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Mirae Asset Mutual Fund has launched Mirae Asset Nifty500 Multicap 50:25:25 ETF. The fund will have 50% allocation to large cap, 25% to mid cap and 25% to small cap.
The fund will aim to replicate/track the Nifty500 Multicap 50:25:25 TRI as their benchmark.
The Nifty500 Multicap 50:25:25 TRI includes stocks from sectors including financial services, capital goods, IT, automobile, healthcare, oil & gas, fast moving consumer goods, chemicals and consumer services.
In a press release, Siddharth Srivastava, Head – ETF Products and Fund Manager, Mirae Asset said, “This scheme offers a unique investment opportunity by providing balanced exposure to the entire universe of large, mid and small-cap stocks where portfolio weight towards each market segment is predefined in a manner to provide investors the stability of large cap along with growth opportunities with reasonable exposure towards mid and small caps. Hence, the fund is designed to capture the growth potential of a broad market spectrum while aiming to minimize the risk. We believe this ETF could be an excellent addition for investors seeking a well-rounded investment strategy.”
The minimum investment amount for the scheme is Rs. 5000.
