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Mirae Asset Mutual Fund Launches New Fund Offers

Mirae Asset Mutual Fund announces the launch of ‘Mirae Asset Nifty Metal ETF’ and ‘Mirae Asset Nifty PSU Bank ETF’
Mirae Asset Nifty Metal ETF
(An open-ended scheme replicating/tracking Nifty Metal Total Return Index)
Mirae Asset Nifty PSU Bank ETF
(An open-ended scheme replicating/tracking Nifty PSU Bank Total Return Index)

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Mumbai, September 19, 2024:

Mirae Asset Investment Managers (India) Pvt. Ltd. announces the launch of two new funds -- Mirae Asset Nifty Metal ETF (an open-ended scheme replicating/tracking Nifty Metal Total Return Index) and Mirae Asset Nifty PSU Bank ETF (An open-ended scheme replicating/tracking Nifty PSU Bank Total Return Index).

Mirae Asset Nifty Metal ETF aims to generate returns, before expenses, that are commensurate with the performance of the Nifty Metal Total Return Index, subject to tracking error. Nifty Metal Index provides exposure to 15 stocks from Indian metals and mining sector, listed on the National Stock Exchange (NSE). The index consists of companies involved in the extraction, processing, and distribution of metals including iron ore, steel, aluminium, zinc, copper, etc.

Mirae Asset PSU Bank ETF aims to generate returns, before expenses, that are commensurate with the performance of the Nifty PSU Bank Total Return Index, subject to tracking error. The Nifty PSU Bank Index comprises of Indian Public Sector Undertaking Bank stocks listed on National Stock Exchange (NSE).

The New Fund Offer (NFO) for Mirae Asset Nifty Metal ETF opens on September 20, 2024, and closes on September 30, 2024. The scheme will re-open for continuous sale and repurchase on October 04, 2024.

The NFO for Mirae Asset PSU Bank ETF opens on September 24, 2024, and closes on September 30, 2024. The scheme will re-open for continuous sale and repurchase on October 03, 2024.

Both funds will be managed by Ms. Ekta Gala & Mr. Akshay Udeshi. 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 Products and Fund Manager, Mirae Asset Investment Managers (India) Pvt. Ltd., said, “The Nifty Metal ETF will allow investors to take either tactical exposure based on short-term view on metal and commodity cycle or a long-term exposure due to India’s focus on infrastructure and manufacturing. The PSU Bank segment in the last few years has witnessed a significant improvement in asset quality, risk preparedness, and strong turnaround in profitability. The PSU Bank ETF aims to provide focussed exposure to this segment which has the potential to continue on its current track of growth and profitability”.

Growth in Indian infrastructure and manufacturing sector has caused an increase in demand for metals. Capital inflow due to Steel Production Linked Incentive (PLI) Schemes are expected to generate an investment of ~INR 30,000 Cr. Source: Data as on Dec 31, 2023; Trading Economics; Ministry of Mines, Care Ratings. Data as per Latest forecast. Increased infrastructure spend is expected to contribute 25-30% of metal demand in the next decade. Nifty Metal ETF aims to provide focussed exposure to companies participating in this segment.

The PSU banks have outperformed private sector banks and several other sectoral indices in the past three years driven by a strong turnaround in profitability and asset quality improvement. PSU banks provide wider access to rural and semi-urban India and play a key role in promoting economic growth and financial inclusion, potentially unlocking the next phase of growth. The Nifty Bank Index has a lower allocation toward PSU banks, hence PSU Bank ETF will provide investors a focussed exposure to this segment at a relatively low-cost.

Source 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 61 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 Metal ETF
Mirae Asset Nifty PSU Bank ETF

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 Ltd Disclaimer: NSE INDICES LIMITED do not guarantee the accuracy and/or the completeness of the Nifty Metal Index 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 Nifty Metal Index or any data included therein. NSE INDICES LIMITED makes no express or implied warranties, and expressly disclaims all warranties of merchant ability 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

NSE INDICES LIMITED do not guarantee the accuracy and/or the completeness of the Nifty PSU Bank Index 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 Nifty PSU Bank Index or any data included therein. NSE INDICES LIMITED makes no express or implied warranties, and expressly disclaims all warranties of merchant ability 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 publicly available sources and is included for general information purposes only. There can be no assurance and guarantee on the yields. 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 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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