Mirae Asset Mutual Fund (AMF) launched Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF, an open-ended scheme replicating and tracking the Nifty MidSmallcap400 Momentum Quality 100 Total Return index.
Banking & Finance
Mirae Asset Mutual Fund (AMF) launched Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF, an open-ended scheme replicating and tracking the Nifty MidSmallcap400 Momentum Quality 100 Total Return index. The product is India's first mutual fund scheme in the ‘mid and smallcap’ category where the underlying portfolio will consist of 50 midcap and smallcap stocks each. The fund house has picked the 100 stocks (50 each from midcap and smallcap segments) from based on a host of factors including quality and momentum. The MF scheme aims to offer investors exposure to high-growth potential companies within the mid and small-cap segments of the market. The new fund offer (NFO) for Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF will open for subscription on 6 May 2024, and close on 17 May 2024.
The Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF fund of funds will open for subscription on 10 May 2024, and close on 24 May 2024.
Both schemes, the Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF and the Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF FOF, will be available at a minimum investment of Rs 5,000 (subsequent investments in multiples of Re 1 thereof).
Mirae Asset Investment Managers (India) Pvt Ltd
HQ- Mumbai
Vice-Chairman and Chief Executive Officer- Swarup Anand Mohanty
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