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Mirae Asset Investment Managers (India) Pvt. Ltd. has announced the launch of the Mirae Asset Nifty200 Alpha 30 ETF Fund of Fund. This new open-ended fund of fund scheme will invest in units of the Mirae Asset Nifty200 Alpha 30 ETF.
The New Fund Offer (NFO) for this scheme opens on Monday, July 8, 2024, and will close on Monday, July 22, 2024. The fund managers for this scheme are Ms. Ekta Gala and Mr. Vishal Singh. The minimum investment required is Rs 5,000, with additional investments in multiples of Re 1. For those interested in a Systematic Investment Plan (SIP), investments can be started with Rs 500 and in multiples of Re 1 thereafter.
Mr. Siddharth Srivastava, Head-ETF Products at Mirae Asset Investment Managers (India) Pvt. Ltd., highlighted the strategic importance of this new fund. He stated, “Mirae Asset Nifty200 Alpha 30 ETF Fund of Fund is a valuable addition to our existing product portfolio. It offers investors the opportunity to invest in the Mirae Asset Nifty200 Alpha 30 ETF without needing a demat account. This product is designed to capture the alpha and momentum strategy, focusing on 30 large and mid-cap stocks selected and weighted based on their ‘alpha score’ rather than free float market cap. The portfolio is reviewed quarterly, allowing for dynamic rotation between sectors and stocks to capture the latest market trends.”
Alpha, in this context, refers to a ‘persistence’ factor that benefits from continued market trends. By selecting and weighing stocks purely based on their “Alpha score,” the index remains unbiased towards large or mid-cap stocks and aims to capture alpha and momentum strategies effectively. This index seeks to generate returns by capturing the latest market trends, historically exhibiting higher portfolio churns to stay aligned with in-favor segments and stocks.
Investors should note the higher drawdowns and increased volatility associated with this index. It is recommended to consider this product from a long-term investment perspective. Those looking to capitalize on the momentum and alpha strategy should carefully evaluate their risk profile before investing.
The scheme will re-open for continuous sale and repurchase from July 29, 2024.
Established in 2008, Mirae Asset Mutual Fund is one of India’s fastest-growing fund houses. As the Asset Management Company (AMC) of Mirae Asset Mutual Fund, Mirae Asset Investment Managers (India) Pvt. Ltd. plays a crucial role within Mirae Asset Global Investments, operating across 19 countries. The AMC offers a fully diversified investment platform with 58 schemes spread across Equity, Debt, Hybrid, and ETF funds. Leveraging expertise from global professionals, Mirae Asset Mutual Fund caters to clients’ evolving needs with innovative solutions across various asset classes, aiming to align portfolios with investment objectives for sustainable growth and success.
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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.
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