Mirae Asset Mutual Fund First to File for Nifty EV and New Age Automotive ETF

Mirae Asset Mutual Fund has filed draft papers with the market regulator for the Mirae Asset Nifty EV and New Age Automotive ETF.

About the Mirae Asset Nifty EV and New Age Automotive ETF

This is an open-ended scheme that replicates or tracks the Nifty EV and New Age Automotive Total Return Index. It is designed for investors seeking returns that match the performance of the Nifty EV and New Age Automotive Total Return Index, subject to tracking error over the long term. The ETF invests in equity securities covered by the Nifty EV and New Age Automotive Total Return Index.

Key Details of the Scheme

• Category: Exchange Traded Fund (ETF)
• Investment Objective: The scheme aims to generate returns, before expenses, that match the performance of the Nifty EV and New Age Automotive Total Return Index, subject to tracking error. There is no guarantee that the investment objective will be achieved.
• Benchmark Index: Nifty EV and New Age Automotive TRI (Total Return Index)

Application Details

Minimum Application Amount & Minimum Additional Application Amount During NFO Period: Rs. 5,000 per application, with subsequent investments in multiples of Re. 1. Units will be allotted in whole figures, with any balance amount refunded.

On an Ongoing Basis

• Market Maker: Applications for subscription of units directly with the fund in Creation Unit Size at NAV-based prices in exchange for Portfolio Deposit and Cash Component.
• Large Investors: Minimum amount of Rs. 25 crores for transactions directly with the AMC.
• Other Investors: Units of the scheme can be subscribed in lots of 1 unit during trading hours on the NSE and BSE where the units are listed.

Asset Allocation

Fund Managers

1. Ms. Ekta Gala
2. Mr. Vishal Singh

Recent Developments

NSE’s index services subsidiary, NSE Indices Limited, recently launched a new thematic index called the Nifty EV & New Age Automotive Index. This index tracks the performance of companies that are part of the EV ecosystem or are involved in the development of new-age automotive vehicles or related technology.

Mirae Asset Mutual Fund is the first to file a draft for an ETF based on the Nifty EV and New Age Automotive Index.

Ready to watch your savings grow? Try our SIP Calculator today and unlock the potential of disciplined investing. Perfect for planning your financial future. Start now!

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.