NFO Alert: Mirae Asset Mutual Fund Launches BSE India Defence ETF

Mirae Asset Mutual Fund has announced a new exchange-traded fund linked to the defence sector. The new fund offer (NFO) for the Mirae Asset BSE India Defence ETF will open on February 2, 2026 and close on February 10, 2026.  

The scheme is scheduled to reopen for continuous buying and selling on February 16, 2026, subject to exchange listing. 

Scheme Overview 

The ETF is an open-ended scheme is to track the BSE India Defence Total Return Index. It follows a passive structure, meaning the fund will mirror the index rather than select stocks independently.  

Units of the ETF will be listed on stock exchanges and can be traded during market hours, similar to other listed ETFs. 

Investment Objective 

According to the scheme document, the objective is to generate returns, before expenses, that broadly match the performance of the BSE India Defence Index, subject to tracking error.  

The fund does not offer any return assurance. There is no certainty that the stated objective will be achieved. 

Equity Investments 

The scheme plans to invest mainly in equity shares of companies that are part of the BSE India Defence Index.  

Stocks are expected to be held in proportions that are broadly in line with their weightage in the index. This method is intended to reduce deviations between the fund’s returns and the benchmark. 

Debt and Money Market Exposure 

Apart from equities, the ETF may invest in debt and money market instruments for liquidity purposes. These may include treasury bills, government securities with a remaining maturity of up to 1 year, commercial papers, certificates of deposit, call or notice money, commercial bills, usance bills, and tri-party repos. All such investments will be within regulatory limits. 

Minimum Investment and Management 

The minimum investment during the NFO period is ₹5,000, with additional investments permitted in multiples of ₹1 thereafter.  

The scheme will be managed by Ekta Gala and Akshay Udeshi. Performance will be benchmarked against the BSE India Defence Total Return Index. 

Read More: Wealth Company Launches Balanced Advantage Fund: NFO Opened on January 27! 

Conclusion  

The Mirae Asset BSE India Defence ETF adds another index-linked option for investors seeking exposure to defence-related companies. Returns from the scheme will depend on movements in the underlying index and how closely the fund tracks it after expenses. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.   
 
Mutual Fund Investments are subject to market risks, read all the related documents carefully before investing.