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Mirae Asset Investment Managers (India) has launched four new fund offers (NFOs) for two new ETFs and two new Fund of Funds based on these ETFs. These are aimed at providing a structured and diversified way to participate in the IPO segment and new spin-offs, as well as an equal-weight strategy based on the top 200 stocks.
The NFOs include Mirae Asset BSE Select IPO ETF, Mirae Asset BSE Select IPO ETF Fund of Fund, Mirae Asset BSE 200 Equal Weight ETF, and Mirae Asset BSE 200 Equal Weight ETF Fund of Fund.
Among them, Mirae Asset BSE Select IPO ETF tracks the BSE Select IPO Total Return Index, and the Mirae Asset BSE Select IPO ETF Fund of Fund invests in units of the BSE Select IPO ETF.
Meanwhile, the Mirae Asset BSE 200 Equal Weight ETF tracks the BSE 200 Equal Weight Total Return Index, and the Mirae Asset BSE 200 Equal Weight ETF Fund of Fund invests in units of the BSE 200 Equal Weight ETF.
Mirae Asset BSE Select IPO ETF, and Mirae Asset BSE 200 Equal Weight ETF open for subscription today, February 24, 2025 and close on March 05, 2025. These schemes will re-open for continuous sale and repurchase on March 11, 2025.
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Concurrently, the Mirae Asset BSE Select IPO ETF Fund of Fund and Mirae Asset BSE 200 Equal Weight ETF Fund of Fund will open for subscription on February 25, 2025, and close on March 11, 2025, and will re-open for continuous sale and repurchase on March 19, 2025.
For all four schemes, the minimum initial investment during the New Fund Offer will be Rs 5,000, with subsequent investments being in multiples of Re 1.
The risk levels for all these schemes, as well as for the benchmarks, are 'very high'.
Mirae Asset BSE Select IPO ETF, Mirae Asset BSE 200 Equal Weight ETF
The schemes aim to provide investors with a structured approach for gaining exposure to recently listed Initial Public Offerings (IPOs) and spin-off companies, which fall within the top 500 companies by market capitalization.
"IPOs and spin-offs provide opportunities for investors to participate in companies that may have significant growth potential or in companies with relatively established business lines. Investments in such new listings may or may not deliver expected returns and carry reasonable risks. With Mirae Asset BSE Select IPO ETF & Fund of Fund, we aim to provide a more structured, disciplined, and diversified approach to take exposure in new companies post-listing," said Siddharth Srivastava, Head of ETF Product & Fund Manager, Mirae Asset Investment Managers (India).
Mirae Asset BSE 200 Equal Weight ETF & Fund of Fund
The Mirae Asset BSE 200 Equal Weight ETF and Fund of Fund will provide equal weightage, and hence equal exposure, to all 200 constituents forming part of the BSE 200 Index, covering the top 100 large-cap companies and top 100 mid-cap companies, essentially capturing major industries and industry leaders of the Indian stock market.
“Mirae Asset BSE 200 Equal Weight ETF & Fund of Fund is an equal-weighted strategy where each stock is assigned equal weight in a portfolio consisting of 100 large-cap and 100 mid-cap companies. Due to equal distribution, the fund will have equal exposure to both large- and mid-cap segments, thus providing diversified and equal exposure to the top 200 stocks. This strategy seeks to reduce stock-specific risk and typically works if there is broad-based diversified performance in the market,” Srivastava said.
These schemes of Mirae Asset Investment Managers (India), will be managed by Ekta Gala, and Vishal Singh.
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