Mirae Asset Mutual Fund is launching a new exchange-traded fund, Mirae Asset Nifty Bank ETF, that seeks to track the Nifty Bank Index closely and aims to achieve returns of the index, subject to tracking errors. The New Fund Offer (NFO) period for the Mirae Asset Nifty Bank ETF is from 12th July 2023 to 18th July 2023. The scheme re-opens for continuous repurchase and sale on 21st July 2023.
Investment Objective: The investment objective of the scheme is to generate returns, before expenses, that are commensurate with the performance of the Nifty Bank Total Return Index, subject to tracking error. There is no assurance or guarantee that the investment objective of the scheme will be achieved.
Mirae Asset Nifty Bank ETF
|Mirae Asset Nifty Bank ETF
|NFO Opening Date
|12th July 2023
|NFO Closing Date
|18th July 2023
|21st July 2023
|Type of Fund
|Exchange Traded Fund
|Ms Ekta Gala
|Minimum Investment Amount
|Minimum Additional Purchase Amount
|Very High Risk
|Nifty Bank TRI
|Plans and Options
|Currently, there are no plan / options available under the Scheme
- All additional investment amounts should be multiple of INR 1/-
Who Can Invest in Mirae Asset Nifty Bank ETF NFO?
Mirae Asset Nifty Bank ETF is a theme-based exchange-traded fund that invests in the companies that form part of the Nifty Bank index. The Nifty Bank Index comprises of the most liquid and large Indian Banking stocks. The Index comprises of maximum 12 companies listed on the National Stock Exchange of India (NSE).
Investors seeking exposure to the banking sector and having very high-risk tolerance levels can consider investing in the scheme. Also, since it is a thematic fund, investors must be aware of the industry-specific risks. This exchange-traded fund requires a minimum investment horizon of 5 years or more.
Ms Ekta Gala
Ms Gala has been associated with Mirae Asset mutual fund since December 2020. Prior to joining Mirae Asset mutual fund, she was associated with ICICI Prudential Asset Management Company. She is Chartered Accountant (CA) and holds a B.Com degree.
|Types of Instruments
|Securities included in the Nifty Bank Index
|Money market instruments/debt securities, Instruments and/or units of debt/liquid schemes of domestic Mutual Funds
|Low to Medium
Similar Mutual Funds
- UTI Nifty Bank ETF
- DSP Nifty Bank ETF
- Nippon India ETF Nifty Bank BeES
- Edelweiss ETF Nifty Bank
- Aditya Birla Sun Life Nifty Bank ETF
Frequently Asked Questions
You can invest in the Mirae Asset Nifty Bank ETF through any of the following methods:
Offline: By filling out the Mirae Asset NFO application and submitting it along with all documents and cheques to the nearest Investor Service Centre of CAMS or Mirae Asset mutual fund office.
Mirae Asset Mutual Fund Website
Online FinTech platforms and mutual fund platforms
Through Demat account
Through a mutual fund distributor or agent
Yes, it is a very high-risk investment based on the riskometer. Mirae Asset Nifty Bank ETF is a theme-based exchange-traded fund closely tracking the Nifty Bank Index. The bank index comprises the top 12 banking companies listed on the National Stock Exchange by market capitalisation.
No, the Mirae Asset Nifty Bank ETF has no lock-in period. The units of the fund trade on the stock exchange, and thus, investors can easily buy and sell them.
The Mirae Asset Nifty Bank ETF scheme re-opens for ongoing subscriptions, switches and redemptions from 21st July 2023.