(An open-ended scheme replicating/ tracking Nifty Total Market Total Return Index)
The Scheme seeks to provide Comprehensive Market Coverage Across All the Market Caps
Key Highlights:
Broad market exposure: Nifty Total Market Index offers investors access to a wide array of companies across large, mid, small, and micro-cap segments, covering approximately 96% of the total market capitalization of companies listed on the NSE.
Diversification: The Index covers all 22 sectors classified by NSE. Moreover, the index also covers all 100 Large cap, 150 Mid cap and 250 Small cap stocks along with 250 Micro Cap stocks.
(Source: NSE Indices Limited, Latest data available as on September 30, 2024)
MUMBAI, India, Oct. 10, 2024 /PRNewswire/ — Mirae Asset Investment Managers (India) Pvt. Ltd. announces the launch of ‘Mirae Asset Nifty Total Market Index Fund’, an open-ended scheme replicating/tracking Nifty Total Market Total Return Index, offering exposure to 750 companies across various market cap segments.
The Nifty Total Market Index provides a comprehensive representation of the Indian equity market, offering exposure to large, mid, small, and micro-cap segments. This diversified approach may help investors capture growth opportunities across the evolving landscape of the Indian equity market.
India’s market attractiveness may continue to rise as it is expected to become the world’s third-largest economy by 2028. (Source: Data as on FY24, World Bank Group, Trading Economic). As market dynamics evolve, the Mirae Asset Nifty Total Market Index Fund seeks to capture the opportunities presented across various sectors and market caps. Key sectors such as banking, IT, pharmaceuticals, focus sectors like manufacturing, infrastructure and emerging industries like fintech and digital entertainment are captured from different market cap segments in this fund with an aim to provide investors with potential opportunities for market cap and sectoral diversification and risk management.
The New Fund Offer (NFO) for Mirae Asset Nifty Total Market Return Index Fund will open for subscription on October 08, 2024 and close on October 22, 2024. The scheme re-opens for continuous sale and repurchase on October 29, 2024. The scheme will be managed by Ms. Ekta Gala and Mr. Vishal Singh.
In the scheme, the minimum initial investment during NFO will be Rs. 5,000/- (Rupees Five Thousand) with subsequent investments being multiples of Re. 1.
Announcing the NFO, Mr. Siddharth Srivastava, Head-ETF Product, Mirae Asset Investment Managers (India) Pvt. Ltd., added, “The Indian economy’s and stock market’s growth trajectory has led to the evolution of stock and sectoral composition of market cap segments with numerous opportunities existing across the board, and the Mirae Asset Nifty Total Market Index Fund seeks to allow investors to participate in this dynamic journey across large, mid, small and micro-cap segments, in a single diversified fund. The new fund aims to capture opportunities across sectors, from established to emerging, present across market cap segments, providing a comprehensive approach to wealth creation over the long term.”
Source for all data: ACE MF, NSE; Data as on September 30, 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.
Pursuant to Clause 2.7 of Part IV of SEBI Master Circular dated June 27, 2024. the universe of “Large Cap” shall consist of top 100 companies, “Mid Cap” shall consist of 101st to 250th company, “Small Cap” shall consist of 251st to 500th and “Micro Cap” shall consist of 501st onwards companies in terms of full market capitalization
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
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 Nifty Total Market 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 Total Market Index or any data included therein. NSE INDICES 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 (product labelling and performance of the fund) please visit the website of the AMC: http://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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