Mirae Asset MF launches two FOFs on EVs and AI theme

Mirae Asset Mutual Fund has launched two FOFs - Mirae Asset Global Electric & Autonomous Vehicles ETFs Fund of Fund and Mirae Asset Global X Artificial Intelligence and Technology ETF Fund of Fund.

While the former FOF will invest in overseas equity ETFs which are based on companies involved in development of electric & autonomous vehicles and related technology, components and materials, the latter will invest in units of Global X Artificial Intelligence & Technology ETF. GlobalX is an ETF provider headquartered in New York, presently manages more than US$40bn AUM in thematic ETFs. 

In a press release, Swarup Mohanty, CEO, Mirae Asset MF said, “We are at a nascent stage of the evolution of these themes in India but globally these themes are taking centre stage. We believe introducing these funds to investors would offer them a chance to participate in these global themes.”