NFO alert: Mirae Asset Mutual Fund launches Mirae Asset Nifty Total Market Index Fund; should you invest?
The new fund offer provides exposure to 750 companies across large, mid, small and micro-cap segments.
In a move set to offer investors broad and diversified exposure to India’s equity market, Mirae Asset Investment Managers (India) Pvt. Ltd. has introduced the Mirae Asset Nifty Total Market Index Fund. This new open-ended scheme replicates the Nifty Total Market Total Return Index, giving investors access to a comprehensive mix of 750 companies spanning large, mid, small, and micro-cap segments.
As India’s economic potential continues to grow, this fund positions investors to benefit from opportunities across various market caps and sectors, ranging from well-established industries to emerging sectors.
Features of Mirae Asset Nifty Total Market Index Fund
Comprehensive Market Coverage
The fund offers exposure to 750 companies from different segments, including large, mid, small, and micro-cap, providing a diverse portfolio across the Indian equity market.
Diversified Sectoral Exposure
The fund taps into key sectors like banking, IT, and pharmaceuticals, as well as focus areas such as manufacturing and infrastructure. Emerging sectors like fintech and digital entertainment also form part of the fund’s sectoral mix.
Long-Term Wealth Creation Potential
Designed to capture growth opportunities in India's fast-evolving economy, the fund aims to offer a diversified approach to wealth creation by leveraging the growth trajectory of various market cap segments.
NFO Details
The New Fund Offer (NFO) opens on October 08, 2024, and closes on October 22, 2024. The scheme will re-open for continuous sale and repurchase on October 29, 2024.
- Minimum Investment: Investors can start with a minimum initial investment of Rs 5,000 during the NFO, with subsequent investments in multiples of Re 1.
- Experienced Fund Managers: The fund will be managed by Ekta Gala and Vishal Singh, bringing their expertise to navigate the evolving Indian equity market.
Management Comments
Siddharth Srivastava, Head-ETF Product, Mirae Asset Investment Managers (India), shared insights about the launch: "India’s stock market continues to evolve as its economy strengthens, presenting new opportunities across all market cap segments. The Mirae Asset Nifty Total Market Index Fund is designed to capture this dynamic journey, offering investors a chance to participate in the growth of sectors ranging from well-established to emerging industries. With a single diversified fund, investors can achieve comprehensive market cap and sectoral diversification for long-term wealth creation."
Should you invest in this fund?
The launch of the Mirae Asset Nifty Total Market Index Fund comes at a crucial time for India’s economy and stock market. With a holistic approach that encompasses companies of all sizes and sectors, this fund is well-suited for investors looking for broad market exposure and a diversified investment portfolio. The inclusion of both established and emerging sectors enhances the fund’s appeal, making it an attractive option for long-term wealth creation in India's rapidly evolving financial landscape.
Disclaimer: The article is for informational purposes only and not investment advice.