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Mirae Asset Mutual Fund Launches 2 new Index Funds


Mirae Asset Nifty 50 Index Fund
(An open-ended scheme replicating/tracking Nifty 50 Total Return Index)
Mirae Asset Nifty LargeMidcap 250 Index Fund
(An open-ended scheme replicating/tracking Nifty LargeMidcap 250 Total Return Index)

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Mumbai, October 10, 2024:

Mirae Asset Investment Managers (India) Pvt. Ltd. announces the launch of two new funds -- Mirae Asset Nifty 50 Index Fund (An open-ended scheme replicating/tracking Nifty 50 Total Return Index) and Mirae Asset Nifty LargeMidcap 250 Index Fund (An open-ended scheme replicating/tracking Nifty LargeMidcap 250 Total Return Index).

Mirae Asset Nifty 50 Index Fund aims to generate returns, before expenses, that are commensurate with the performance of the Nifty 50 Total Return Index, subject to tracking error. There is no assurance or guarantee that the investment objective of the scheme would be achieved.

Nifty 50 Index is considered a barometer of Indian Stock Exchange. The index consists of 50 large bluechip companies, providing diversified exposure across 15 different sectors.

Mirae Asset Nifty LargeMidcap 250 Index aims to generate returns, before expenses, that are commensurate with the performance of Nifty LargeMidcap 250 Total Return Index. There is no assurance or guarantee that the investment objective of the scheme would be achieved. The index aims to reflect the performance of all large cap and all mid cap companies listed at NSE with 50% weight allocated to each segment. The 250 stocks of Nifty LargeMidcap 250 Index are the combination of the universe of stocks forming part of Nifty 100 and Nifty Midcap 150 Indices, offering a broadbased exposure to the Indian equity market.

The New Fund Offer (NFO) for Mirae Asset Nifty 50 Index Fund and Mirae Asset Nifty LargeMidcap 250 Index Fund opens on October 10, 2024, and closes on October 18, 2024. Both the schemes will re-open for continuous sale and repurchase on October 25, 2024.Gala & Mr. Vishal Singh. The minimum initial investment in both funds will be Rs. 5,000/- and multiples of Re. 1/- thereafter during the NFO.

Speaking on the NFO Launch, Siddharth Srivastava, Head – ETF Product and Fund Manager, Mirae Asset Investment Managers (India) Pvt. Ltd., said, “The Nifty 50 Index represents the evolving landscape of India’s large-cap segment. With the Mirae Asset Nifty 50 Index Fund, investors may benefit from a cost-effective avenue to access the top 50 blue-chip companies listed on the NSE. On the other hand, the Mirae Asset Nifty LargeMidcap 250 Index Fund aims to offer investors the opportunity to gain exposure to the stability and growth potential of large and midcap companies with 50% exposure to each market cap segments leading to a diversified and equal participation in both segments”.

Nifty 50 Index fund and Nifty LargeMidcap 250 index funds has potential to form part of investors core portfolio at a relatively lower cost and without the presence of active fund manager risk. While Nifty 50 Index currently captures 29 basic industries through 50 large cap stocks, the Nifty LargeMidcap 250 index currently captures 91 basic industries through 100 large cap and 150 midcap companies. Both indices are reconstituted on a semi-annual basis and hence consistently evolves to capture the evolving landscape of Indian equity market.

Source for all data: ACE MF, NSE; Data as on September 30, 2024Source for all data: ACE MF, NSE; Data as on August 31, 2024

 

About Mirae Asset Investment Managers (India) Pvt. Ltd

Established in 2008, Mirae Asset Mutual Fund is one of India’s fastest-growing fund houses. Mirae Asset Investment Managers (India) Pvt. Ltd. is the Asset Management Company (“AMC”) of Mirae Asset Mutual Fund.

As a pivotal player within Mirae Asset Global Investments, operating across 19 countries, Mirae Asset Investment Managers (India) Pvt. Ltd. is dedicated to collaborative management, offering a fully diversified investment platform. The AMC has 62 schemes available for investors spread across Equity funds, Debt funds, Hybrid Funds, and ETF funds. With expertise drawn from our global professionals, Mirae Asset Mutual Fund caters to clients’ evolving needs with innovative solutions across various asset classes, striving to align portfolios with investment objectives for sustainable growth and success.

RISKOMETER
Mirae Asset Nifty 50 Index Fund
Mirae Asset Nifty LargeMidcap 250 Index Fund

Note: The Product Labelling assigned during the NFO is based on internal assessment of the scheme characteristics or model portfolio and the same may vary post NFO when the actual investments are made.

Disclaimers & Footer

Statutory Details:Trustee: Mirae Asset Trustee Company Private Limited; Investment Manager: Mirae Asset Investment Managers (India) Private Limited (AMC); Sponsor: Mirae Asset Global Investments Company Limited.: NSE Indices Ltd Disclaimer: NSE INDICES LIMITED do not guarantee the accuracy and/or the completeness of the Mirae Asset Nifty 50 Index Fund and Mirae Asset Nifty LargeMidcap 250 Index Fund or any data included therein and NSE INDICES LIMITED shall have not have any responsibility or liability for any errors, omissions, or interruptions therein. NSE INDICES LIMITED does not make any warranty, express or implied, as to results to be obtained by the Issuer, owners of the product(s), or any other person or entity from the use of the Mirae Asset Nifty 50 Index Fund and Mirae Asset Nifty LargeMidcap 250 Index Fund or any data included therein. NSE IND ICES LIMITED makes no express or implied warranties, and expressly disclaims all warranties of merchantability or fitness for a particular purpose or use with respect to the index or any data included therein. Without limiting any of the foregoing, NSE INDICES LIMITED expressly disclaim any and all liability for any claims, damages or losses arising out of or related to the Products, including any and all direct, special, punitive, indirect, or consequential damages (including lost profits), even if notified of the possibility of such damages

The information contained in this document is compiled from third party and publically available sources and is included for general information purposes only. There can be no assurance and guarantee on the yields. Views expressed by the Fund Manager cannot be construed to be a decision to invest. The statements contained herein are based on current views and involve known and unknown risks and uncertainties. Whilst Mirae Asset Investment Managers (India) Private Limited (the AMC) shall have no responsibility/liability whatsoever for the accuracy or any use or reliance thereof of such information

The AMC, its associate or sponsors or group companies, its Directors or employees accepts no liability for any loss or damage of any kind resulting out of the use of this document. The recipient(s) before acting on any information herein should make his/her/their own investigation and seek appropriate professional advice and shall alone be fully responsible / liable for any decision taken on the basis of information contained herein. Any reliance on the accuracy or use of such information shall be done only after consultation to the financial consultant to understand the specific legal, tax or financial implications.

For further information about other schemes (Type of scheme, product labelling and performance of the fund) please visit the website of the AMC: www.miraeassetmf.co.in

Please consult your financial advisor or mutual fund distributor before investing

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

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