Mirae Asset Unveils India’s First Multicap ETF

Mirae Asset Investment Managers (India) Pvt. Ltd. has launched India's first Multicap Exchange Traded Fund (ETF), named the ‘Mirae Asset Nifty500 Multicap 50:25:25 ETF’. This open-ended fund aims to mirror the performance of the Nifty500 Multicap 50:25:25 Total Return Index, which allocates 50% to large-cap stocks and 25% each to mid-cap and small-cap stocks, offering a well-rounded view of the Indian market.

The New Fund Offer (NFO) for this ETF will start on August 12, 2024, and will conclude on August 26, 2024. Investors can start with a minimum investment of Rs 5,000, with additional investments in multiples of Rs 1. The fund will be overseen by Ms. Ekta Gala and Mr. Vishal Singh.

Siddharth Srivastava, Head of ETF Products and Fund Manager at Mirae Asset, highlighted that this new ETF is a significant addition to their product range. It aims to provide a balanced investment strategy by blending the stability of large-cap stocks with the growth potential of mid and small caps. This approach is designed to offer a well-rounded investment experience, supported by a disciplined quarterly rebalancing process.

The ETF is positioned as a transparent and cost-effective alternative to actively managed funds, catering to investors who seek both diversification and stability. By offering broad market exposure and a methodical investment strategy, Mirae Asset's new ETF aims to deliver reliable long-term performance.

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