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Mirae Asset Mutual Fund has launched ‘Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF’ and ‘Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF Fund of Fund’.
The underlying index has 50 Midcap and 50 Smallcap stocks selected based on quality, momentum and liquidity parameters.
The New Fund Offer (NFO) for Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF will open for subscription on May 06, 2024 and close on May 17, 2024. Also, the Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF Fund of Fund will open for subscription on May 10, 2024 and close on May 24, 2024.
In a press release, Siddharth Srivastava, Head – ETF Product and Fund Manager, said, "We are excited to introduce a first-of-its-kind ETF and Fund of Fund for investors that focuses on both mid & smallcap companies, selected based on smart beta factors. The underlying portfolio targets highly profitable companies with low leverage and stable earnings growth which have given relatively higher risk adjusted returns in the last 6 month and 1-year period. By investing in these funds, investors will get exposure to both mid and smallcap companies, but with a risk profile which has been historically more aligned to midcap segment. At current market valuations, investors may invest in a lumpsum manner in ETF and FOF or through a Systematic Investment Plan (SIP) in FOF, but with a long-term investment horizon.”
This fund will invest equally in midcap and smallcap segment.
