Mirae Asset Mutual Fund Launches Mirae Asset Gold ETF Fund of Fund

Mirae Asset Investment Managers (India) Pvt. Ltd. announces the launch of, ‘Mirae Asset Gold ETF Fund of Fund’, an open-ended fund of fund scheme investing in units of Mirae Asset Gold ETF. The scheme aims to provide long-term capital appreciation from a portfolio investing in units of Mirae Asset Gold ETF. There is no assurance that the investment objective of the Scheme will be achieved.

The New Fund Offer (NFO) for Mirae Asset Gold ETF Fund of Fund will open for subscription on October 16, 2024 and closes on October 22, 2024. The scheme re-opens for continuous sale and repurchase from October 28, 2024. The scheme will be managed by Mr. Ritesh Patel and Mr. Akshay Udeshi (Co- Fund Manager).

The minimum initial investment during NFO in the scheme will be Rs 5,000 and multiples of Re 1 thereafter.

Mirae Asset Gold ETF Fund of Fund provides investors with an avenue for exposure to domestic gold prices by investing in Mirae Asset Gold ETF. The underlying ETF is backed by physical gold, certified by the London Bullion Market Association (LBMA), ensuring a purity of 99.5% or higher. Lower cost, no storage and purity risk are an added advantage to invest in this scheme rather than owing gold directly for investment purposes

Gold is often viewed as a safe-haven asset, offering potential diversification benefits due to its lower correlation with other asset classes and relatively better performance during the times of heightened geo-political & market risk and Inflation. By investing in the Mirae Asset Gold ETF Fund of Fund, investors may enhance their portfolio’s resilience during such periods of economic uncertainty.

Speaking on the NFO Launch, Siddharth Srivastava, Head – ETF Product and Fund Manager, Mirae Asset Investment Managers (India) Pvt. Ltd., said, “Mirae Asset Gold ETF Fund of Fund offers investors a simple yet effective way to diversify their portfolios and gain exposure to gold. With gold’s historic role in preserving value during inflationary periods and economic downturns and acting as wealth creator over the long run, this fund aims to provide an opportunity for investors to strengthen their portfolios and navigate challenging times.”

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.

For further information about other schemes (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.