Mirae Assets MF To Launch Mirae Asset Nifty Total Market Index Fund

Mirae Asset Investment Managers is to launch a new fund, the Mirae Asset Nifty Total Market Index Fund, aimed at providing a comprehensive picture of the Indian equity market. This open-ended scheme will track the Nifty Total Market Total Return Index, offering exposure to 750 companies across large, mid, small, and micro-cap segments.

New Fund Offer Details

The New Fund Offer (NFO) will open for subscription on October 8, 2024, and will be available until October 22, 2024. Following this period, the fund will reopen for continuous sale and repurchase on October 29, 2024. Investors can start with a minimum investment of Rs.5,000, with additional investments allowed in multiples of Rs.1. The fund will be managed by Ekta Gala and Vishal Singh.

Broad Picture of the Indian Market

The Nifty Total Market Index provides an extensive view of the Indian stock market, including sectors like banking, IT, and pharmaceuticals, as well as emerging industries such as fintech, digital entertainment, and infrastructure. By diversifying across various market capitalizations and sectors, the fund aims to give investors a balanced exposure, mitigating risk while tapping into growth opportunities across the evolving Indian market.

Projected Growth & Potential

India is projected to become the third-largest economy globally by 2028, and its attractiveness as an investment destination is set to grow. The Mirae Asset Nifty Total Market Index Fund is expected to leverage these opportunities by offering diversified exposure across sectors and market caps as this diversification allows investors to benefit from the country’s growth trajectory while managing sectoral risks.

Conclusion: Siddharth Srivastava, Head of ETF Product at Mirae Asset Investment Managers, talked about the fund’s role in providing a diversified approach to wealth creation. By including companies across market cap segments, from well-established sectors to emerging industries, the Mirae Asset Nifty Total Market Index Fund offers a way for investors to participate in India’s economic growth and evolving equity market. 

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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.