New Fund Offer for Mirae Asset Nifty Total Market Index Fund – Key Details Inside
Launch of New Fund Offer: Mirae Asset Nifty Total Market Index Fund
New Fund Offer (NFO) by Mirae Asset Investment Managers (India) Pvt Ltd has been launched for the Mirae Asset Nifty Total Market Index Fund, an open-ended scheme replicating and tracking the Nifty Total Market Total Return Index. It offers exposure to 750 companies across diverse market cap segments, including large, mid, small, and micro-cap.
Diversified Exposure to Indian Equity Market
This fund provides a comprehensive representation of the Indian equity market, which is expected to become the world’s third-largest economy by 2028. As market dynamics evolve, this new fund aims to capitalize on the opportunities across various sectors and market capitalizations.
- Key sectors included:
- Banking
- IT
- Pharmaceuticals
- Manufacturing
- Infrastructure
- Fintech
- Digital Entertainment
Siddharth Srivastava, Head-ETF Product, emphasized that this fund allows investors to engage in the ongoing growth journey in India’s stock market and participate in sectoral diversification with a single diversified fund.
NFO Details
The New Fund Offer will be open for subscription from October 08, 2024, to October 22, 2024, with the scheme reopening for continuous sale and repurchase on October 29, 2024. The minimum initial investment is set at Rs 5,000, with subsequent investments in multiples of Re 1.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.