Mirae Asset introduces two ETFs focused on the consumption theme: See the details.
Mirae Asset Investment Managers (India) has launched two new exchange-traded funds (ETFs) focused on India's evolving consumption theme: the ‘Mirae Asset Nifty India New Age Consumption ETF’ and the 'Mirae Asset Nifty India New Age Consumption ETF Fund of Fund.'
Mirae Asset Investment Managers (India) has unveiled two exchange-traded funds (ETFs) centered around India's consumption theme: the ‘Mirae Asset Nifty India New Age Consumption ETF’ and the 'Mirae Asset Nifty India New Age Consumption ETF Fund of Fund.' The new fund offer (NFO) for both schemes is currently open for subscription. The NFO for the former closes on December 20, 2024, while the latter's NFO concludes on December 26, 2024.
Both schemes track the Nifty India New Age Consumption Index. The Fund of Fund is an open-ended scheme that invests in units of the Mirae Asset Nifty India New Age Consumption ETF.
The funds aim to provide investors with the opportunity to tap into India's evolving consumption landscape, driven by demographic changes and increased discretionary spending.
The minimum initial investment for both schemes during the NFO period is ₹5,000, with subsequent investments in multiples of ₹1.
Siddharth Srivastava, Head of ETF Product & Fund Manager at Mirae Asset, commented on the launch: "India's spending patterns are evolving rapidly, fueled by demographic advantages, the rise of new-age companies, digitalization, wider access, greater penetration, and rising disposable incomes. The Mirae Asset Nifty India New Age Consumption ETF and Fund of Fund are designed to capture this transformation, offering investors a chance to participate in the growth of India's discretionary and aspirational consumption segment."
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