Mirae Asset Mutual Fund has launched two passive funds focussing on international markets. In a press release, the company claims that both the funds are India’s first FANG+ based products – Mirae Asset NYSE FANG+ ETF, an open-ended scheme replicating/tracking NYSE FANG+ Total Return Index and Mirae Asset NYSE FANT+ ETF Fund of Fund, an open-ended fund of fund scheme predominantly investing in Mirae Asset NYSE FANG+ ETF.
The NFOs of both the funds will open for subscription on April 19, 2021. While the FANG+ETF will close on April 30, 2021, the FANG+ETF Fund of Fund will close on May 3, 2021.
The NYSE FANG+ Index is an equal weighted index designed to represent a segment of the technology and consumer discretionary sectors. Facebook, Amazon, Apple, Netflix, Alphabet (Google), Tesla and Twitter are listed on this index.
“There are a few global companies that do not just follow future mega trends but rather drive the change with their constant innovations. They have not just shaped our society; they have provided good returns to investors for years together. Through these funds, Indian investors can participate in this global growth story and consequently feel like they too are part of the change driving our world today,” said Swarup Mohanty, CEO, Mirae Asset MF.
