Mirae India Asset Mutual Fund believes it pays to be smart. India’s ninth largest fund house with assets worth Rs 1,59,242 crore launched a new smart beta fund. Called Mirae Asset Nifty Smallcap250 Momentum Quality 100 ETF, this is the fund house’s first small-cap fund in a segment that already has 40 funds. To differentiate itself and also to lower the risk that appears to have seeped into an already frothy small-cap segment, thanks to a terrific run-up in equity markets in 2023, Mirae Asset India has chosen to launch its first-ever small-cap fund in a smart beta variant.
