Publish Date:
Mirae Asset Mutual Fund introduces – Mirae Asset Nifty 200 Alpha 30 ETF
It is an open-ended scheme replicating/tracking Nifty 200 Alpha 30 Total Return Index.
Accordingly, the investment objective of the scheme is to generate returns, before expenses, that are commensurate with the performance of the Nifty 200 Alpha 30 Total Return Index, subject to tracking error. There is no assurance or guarantee that the investment objective of the scheme would be achieved.
Under normal circumstances, Mirae Asset Nifty 200 Alpha 30 ETF will hold an allocation of 95% to 100% in Securities included in the Nifty 200 Alpha 30 Index, and 0% to 5% in Money market instruments / debt securities, Instruments and/or units of debt/liquid schemes of domestic Mutual Funds.
As per the Scheme Information Document, Mirae Asset Nifty 200 Alpha 30 ETF will be managed passively with investments in stocks in the same proportion as in the Nifty 200 Alpha 30 Index. The endeavour is to invest in a basket of securities forming part of Nifty 200 Alpha 30 Index in similar weight proportion.
The investment strategy would revolve around reducing the tracking error to the least possible through regular rebalancing of the portfolio, considering the change in weights of stocks in the Index as well as the incremental collections/redemptions in the Scheme. A part of the funds may be invested in debt and money market instruments, to meet the liquidity requirements.
Mirae Asset Nifty 200 Alpha 30 ETF performance will be benchmarked against Nifty 200 Alpha 30 TRI (Total Return Index)
The scheme will be managed by Ms Ekta Gala and Mr Vishal Singh.
The NFO opens for subscription on October 09, 2023 and closes on October 18, 2023. The schemes will reopen for continuous sale and repurchase on October 23, 2023.
The minimum subscription amount is Rs 5,000/- and in multiples of Re.1/- thereof.
The Scheme does not offer any Plans/Options for investment.