New Fund Offer: Mirae Asset Mutual Fund forays into smallcap space, launches 2 NFOs

financialexpress.com:

Mirae Asset Mutual Fund has announced India’s first Multi factor-based ETF on Nifty Smallcap250 Index, ‘Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF’, an open-ended scheme replicating/tracking Nifty Smallcap 250 Momentum Quality 100 Total Return Index, and the ‘Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF Fund of Fund’, an open-ended fund of fund scheme investing in units of Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF.

Mirae Asset Mutual Fund aims to provide investors with sector-agnostic exposure within the smallcap category by leveraging a combination of factors.

The New Fund Offer (NFO) for Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF opened for subscription on February 12, 2024 and will close on February 21, 2024. The Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF Fund of Fund will open for subscription on February 15, 2024 and close on February 28, 2024. Both are open-ended schemes benchmarking the Nifty Smallcap 250 Momentum Quality 100 Total Return Index. The schemes will be managed by Ekta Gala and Vishal Singh.

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The minimum initial investment during NFO in both the schemes will be Rs 5,000 and multiples of Re 1 thereafter.

Smallcap stocks may be considered to have potential and when further filtered with parameters like Liquidity, Momentum, and Quality (LQM), they may present a unique asset class seeking wealth creation. Mirae Asset Mutual Fund has experience in developing innovative passive products, and this ETF aims to incorporate multiple aspects of factor investing, utilizing systematic rule-based approaches that aims to pursue a desired performance profile.

Speaking on the NFO