MIRAE ASSET Nifty India Manufacturing ETF & FOF
The country’s manufacturing sector has the potential to grow rapidly. In such a situation, exchange traded fund (ETF) can give better returns.
The manufacturing sector in India is expected to grow rapidly due to economic reforms and the central government’s ambitious plan ‘Make in India’ and Production Linked Incentive (PLI) scheme.
In such a situation, investors can also get better returns from the growth of manufacturing sector. Mirae Asset Mutual Fund, Mirae Asset Investment Managers (India) Private Limited (“Mirae AMC”) has launched ‘MIRAE ASSET Nifty India Manufacturing ETF’. This ETF will track the Nifty India Manufacturing Total Return Index.
The index has consistently outperformed the Nifty 50 for the last six calendar years (January-December), including the current financial year.
Along with this, the Mirae Asset Mutual Fund Company has also launched a fund of fund ‘Mirae Asset Nifty India Manufacturing ETF FOF’ for the manufacturing sector.
About ‘MIRAE ASSET Nifty India Manufacturing ETF
This is open-ended fund of fund scheme. Mirae Asset Mutual Fund manages the fund. ‘MIRAE ASSET Nifty India Manufacturing ETF will invest in the units of Mirae Asset Nifty India Manufacturing ETF.
The cumulative gross exposure through Money market instruments / debt securities, Instruments and/or units of debt/liquid schemes shall not exceed 100% of the net assets of the Scheme.
Participate in potential emerging segments like Electronics, Electric vehicles, Battery Tech, Defense etc.
- An open-ended fund of fund scheme
- Fund Manager: Ms. Ekta Gala
- Benchmark: Nifty India Manufacturing TRI
- Minimum Investment Amount: Rs.5000/- and in multiples of Re.1/- thereafter.
- Plan & Options: Regular Plan & Direct Plan with Growth and IDCW Option.
- Systematic Investment Plan Amount: (SIP): Monthly and Quarterly: Rs. 1000/-(and in multiples of Re. 1/-)
- Minimum Additional Purchase Amount: Rs. 1000/-
- If redeemed after 3 months from the date of allotment: NIL
- If redeemed within 3 months from the date of allotment: 0.50%
Recommended Investment Horizon: 3+ Years
Details of both the schemes
Both the schemes offered by Mirae Asset Mutual Fund are open ended schemes. NFO (New Fund Offer) has opened for both the schemes today but their subscription period is different.
Mirae Asset Nifty India Manufacturing ETF will be open for subscription till January 2022 and Mirae Asset Nifty India Manufacturing ETF FOF till January 24 2022.
In both the schemes, you will be able to invest at least Rs 5000 and thereafter in multiples of Rs. 1
Key Features of ‘MIRAE ASSET Nifty India Manufacturing ETF
In the coming time, there is a lot of growth potential in electric vehicle, battery, defense etc. Through both these investment schemes of Mirae Asset Mutual Fund, investors will get an opportunity to invest in manufacturing sectors.
The Nifty India Manufacturing Index tracks the stocks of the manufacturing giant and has outperformed the Nifty 500 Index during the economic recovery and Make in India campaign.
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The Nifty India Manufacturing Index has outperformed the Nifty 50 Index in the last 6 years including the current FY 2021 out of the last 8 calendar years (January to December). Stay updated with our latest investment, insurance, saving, mutual fund articles at sugermint.