Mirae Asset Mutual Fund introduced India’s first rule-based Multicap ETF on August 12, 2024, named Mirae Asset Nifty500 Multicap 50:25:25 ETF. It targets the performance of the Nifty500 Multicap 50:25:25 Total Return Index and requires a minimum investment of ₹5,000. The New Fund Offer (NFO) period closes on August 26, 2024.
This open-ended ETF aims to achieve returns that mirror the Nifty500 Multicap 50:25:25 Total Return Index, subject to tracking error. While the fund does not guarantee specific returns, it seeks to offer investors exposure to a diversified portfolio across the cap spectrum.
The ETF’s strategic focus is on investors seeking long-term performance aligned with the Nifty500 Multicap 50:25:25 Total Return Index. It encompasses equity securities covered by the index, offering a broad market approach within the Nifty500 universe.
Performance tracking will adhere closely to the Nifty500 Multicap 50:25:25 Total Return Index. The fund management team is led by Ekta Gala and Vishal Singh, who bring significant expertise from their previous roles in the financial sector.
Ekta Gala, co-fund manager, has over six years of experience as a dealer in the financial industry, with prior associations with ICICI Prudential Asset Management. Vishal Singh, also a co-fund manager, has a background in commerce and holds CA, CFA, and FRM certifications, bringing over five years of financial services experience from his time at NSE Indices Limited.
