Mirae Asset NYSE FANG+ ETF scheme details

Mirae Asset NYSE FANG+ ETF

Mirae Asset Mutual Fund launches an exchange-traded fund scheme. The name of the scheme is Mirae Asset NYSE FANG + ETF. It is an open-ended scheme replicating/tracking NYSE FANG + total return index.

Further, the scheme is suitable for investors who look for returns that are commensurate with the performance of the NYSE FANG+ Total Returns Index.

As of the risk-meter, Investors considered that their investment principal will be at very high risk.

Further, the MF house conducts the subscription process between 19th April 2021 and 30th April 2021. Moreover, the scheme will re-open for continuous sale and repurchase from 7th May 2021.

Basic Details of NFO:

NFO Name Mirae Asset NYSE FANG + ETF
Subscription Period April 19, 2021 – April 30, 2021
NFO Type Open-Ended ETF scheme
Benchmark NYSE FANG + TRI
Fund Manager Siddharth Srivastava

As of the SID, the units of the scheme remains listed on NSE and BSE. However, the scheme does not offer any plans or options for investment.

Investment Objective:

The investment objective of the Mirae Asset MF scheme is to generate returns, before expenses, that are commensurate with the performance of the NYSE FANG+ Total Return Index, subject to tracking error and forex movement.

Besides, NYSE FANG+ TRI will play as a benchmark to the scheme. Moreover, the performance of the scheme will manage by Siddharth Srivastava, head -ETF Products at Mirae Asset.

Further, Investors should know that the units of the scheme remain available only in dematerialized form.

Minimum Investment:

During the NFO period, the minimum application amount should be Rs. 5,000 per application and in multiples of Re. 1 thereafter.

Besides, the entry load and exit load charges do not applicable under the scheme.

Asset Allocation Pattern:

Instruments Indicative Allocation ( % of total assets) Risk Profile
Minimum Maximum
Securities included in the NYSE FANG+ Index 95% 100% High
Money Market Instruments / Debt securities, Instruments and/or units of schemes of domestic MFs 0% 5% Low to Medium

Further, the first time MF investors should pay transaction charges of Rs. 150 for the subscription of Rs. 10,000 and above. Also, the regular investors should by transaction fee of Rs. 100 per subscription of Rs. 10,000 and above.

Disclaimer: This post is just information about the scheme. It does not give any advice or recommendation. Please read the offer document carefully and consult your investment adviser before investing.

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