Mirae Asset Mutual Fund has launched ‘Mirae Asset Equity Allocator Fund of Fund’, an open-ended scheme that will invest in units of domestic equity ETFs.
The FoF aims to generate market returns with low cost ETFs. The fund will follow active asset allocation in Nifty50 ETF, Nifty Next 50 ETF, and Midcap150 ETFs with exposure to large & midcap segment.
In a press release, Swarup Mohanty, CEO, Mirae Asset MF said, “As the spread of COVID-19 continues, market volatility is expected to exist in the near to medium term. In such a situation, allocation within equities, diversification into different categories and continuously rebalancing the portfolio to maintain the market cap allocation becomes a challenge for investors. The FoF seeks to help investors deal with this concern by making the most of the opportunities available in equities.”
Investors can invest in this FoF without demat account.
