NFO details: Mirae Asset Mutual Fund has introduced two new schemes: Mirae Asset Nifty India New Age Consumption ETF and Mirae Asset Nifty India New Age Consumption ETF Fund of Fund. These schemes aim to provide investors with an opportunity to capitalise on India’s changing consumption trends, influenced by evolving demographics and growing discretionary spending.
The Mirae Asset Nifty India New Age Consumption ETF and the Mirae Asset Nifty India New Age Consumption ETF Fund of Fund are currently open for subscription, with the NFO period starting today, Dec 12, 2024, and closing on December 20, 2024.
Following the closure of the NFO period, the Mirae Asset Nifty India New Age Consumption ETF will re-open for continuous sale and repurchase on December 27, while the Mirae Asset Nifty India New Age Consumption ETF Fund of Fund will re-open on January 3, 2025.
NFO Details
Mirae Asset Nifty India New Age Consumption ETF
Opens for subscription: December 12, 2024
Closes: December 20, 2024
Re-opens for continuous sale and repurchase: December 27, 2024
Mirae Asset Nifty India New Age Consumption ETF Fund of Fund
Opens for subscription: December 12, 2024
Closes: December 26, 2024
Re-opens for continuous sale and repurchase: January 3, 2025
Investment Details
Both funds require a minimum investment of Rs 5,000 initially, with subsequent investments being multiples of Re 1.
Siddharth Srivastava, Head-ETF Product & Fund Manager at Mirae Asset Investment Managers (India) Pvt Ltd, said: “India’s spending patterns are evolving at a significant pace, fueled by demographic advantages, the rise of new-age companies, digitalization, higher access, increasing penetration, and rising disposable incomes. The Mirae Asset Nifty India New Age Consumption ETF and Fund of Fund are designed to potentially capture this transformation, providing investors with a gateway to participate in the growth of India’s discretionary and aspirational consumption segment.”