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Mirae Asset Mutual Fund launches Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF Fund of Fund

18 September 20246 mins read by Angel One
In the following article we shed light on the NFO's objectives, fund allocation, fund managers, and peer performance.
Mirae Asset Mutual Fund launches Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF Fund of Fund
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Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF Fund of Fund is a Mutual Fund offered by Mirae Asset Mutual Fund. The investment objective of the scheme is to provide long-term capital appreciation by investing in units of Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF. It is an Open-Ended Scheme categorized as a Scheme – FoF Domestic. The New Fund Launch Date is 10-May-2024, with the New Fund Offer Closure Date being 24-May-2024. There is no entry load and exit load, and the minimum subscription amount is Rs. 5,000.

Investment Objective

The investment objective of the Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF Fund of Fund is to provide long-term capital appreciation from a portfolio investing in units of Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF. There is no assurance that the investment objective of the Scheme will be realized.

his NFO of Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF Fund of Fund is suitable for investors who are seeking returns that are commensurate with the performance of the Nifty MidSmallcap400 Momentum Quality 100 Total Return Index, subject to tracking error over the long term and Investments in equity securities covered by Nifty MidSmallcap400 Momentum Quality 100 Total Return Index.

Risk-o-meter:

Funds Allocation

Types of Instruments Risk Profile Minimum Allocation (% of Net Assets) Maximum Allocation (% of Net Assets)
Units of Mirae Asset Nifty MidSmallcap400 Momentum

Quality 100 ETF

Very High 95 100
Money market instruments/debt securities, Instruments and/or units of debt/liquid schemes of domestic Mutual Funds. Low to

Moderate

0 5

Benchmark

The performance of the Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF Fund of Fund is benchmarked against the Nifty MidSmallcap400 Momentum Quality 100 TRI (Total Return Index).

Fund Managers

The Mirae Asset Nifty Midsmallcap400 Momentum Quality 100 ETF fund managers are Ms. Ekta Gala and Mr. Vishal Singh.

Ms. Ekta Gala has over 6 years of experience as a dealer. Prior to this assignment, Ms. Ekta Gala was associated with ICICI Prudential Asset Management Company Ltd. Her qualifications include B.Com & Inter CA (IPCC).

Mr. Vishal Singh has over 5 years of experience in the field of financial services. Prior to this assignment, Mr. Singh was associated with NSE Indices Limited. His qualifications include C.A.; C.F.A; F.R.M; B.Com.

Peer Mutual Fund Schemes (Annual Returns)

Scheme Name Launch Date AUM (Crore) Expense Ratio (%) Returns as on – 09-05-2024 in %
2024 2023
Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF FOF 01-03-2024 72.62 0.73
Fund of Funds-Domestic-Equity 7.25 25.11
Motilal Oswal Nifty 200 Momentum 30 ETF 10-02-2022 42.47 0.36 17.09 41.19
ABSL Nifty 200 Momentum 30 ETF 12-08-2022 50.38 0.32 17.1 41.25
HDFC NIFTY200 MOMENTUM 30 ETF 11-10-2022 24.53 0.3 17.1 40.85
ICICI Prudential Nifty 200 Momentum 30 ETF 05-08-2022 64.88 0.3 17.13 40.84
ETFs 6.2 24.46

Data as of May 09, 2024

Characteristics of Momentum Quality Fund of Fund

  • Invests in underlying funds that hold stocks with strong recent price performance.
  • Aims to capture trends by buying into “hot” sectors and companies.
  • May be actively managed or passively track a momentum index.
  • Offers potential for higher returns but also carries increased volatility.
  • Lacks diversification compared to a broader fund due to its focused nature.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.

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