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After 16 years, Mirae Asset Mutual Fund has forayed into small cap space through factor-based ETF route.
The fund house has launched Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF’, an open-ended scheme replicating/tracking Nifty Smallcap 250 Momentum Quality 100 Total Return Index, and the Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF Fund of Fund, an open-ended fund of fund scheme investing in units of Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF.
The NFO of Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF opens on February 12 and closes on February 21, 2024. Further, the NFO of Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF Fund of Fund will open for subscription on February 15 and close on February 28.
In a press release, Siddharth Srivastava, Head – ETF Product and Fund Manager, Mirae Asset MF said, “By focusing on three tried and tested pillars of liquidity, quality, and momentum (LQM), this is a first-of-its-kind multi-factor product in the smallcap segment, which will seek to track a robust portfolio of select 100 smallcap stocks from Nifty Smallcap 250 Index, with an endeavour for potentially lower drawdowns. At current market valuations, the investor may invest in a lumpsum manner or through SIP, but with a long-term investment horizon.”
