Mutual Fund News : Mirae Asset Mutual Fund launches Mirae Asset Nifty Next 50 ETF

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Mirae Asset Mutual Fund has launched Mirae Asset Nifty Next 50 ETF. It is an open ended scheme replicating/tracking Nifty Next 50 Total Return Index.

The investment objective of the scheme is to generate returns, before expenses, that are commensurate with the performance of the Nifty Next 50 Total Return Index, subject to tracking error. The Scheme does not guarantee or assure any returns.

The performance of the fund will be benchmarked against Nifty Next 50 TRI (Total Return Index).

The fund will be managed by Ms. Bharti Sawant.

The NFO opens for subscription on January 13, 2020 and closes on January 21, 2020.

The New Fund Offer is priced at 1/100th value of the Nifty Next 50 closing Index as on the date of allotment for applications received during the New Fund Offer (“NFO”) period and at approximately indicative NAV based prices (along with applicable charges and execution variations) during the Ongoing Offer for applications directly received at AMC.

The minimum application amount for initial purchase is Rs 5,000 and in multiples of Re 1 thereafter.