Mirae Asset Mutual Fund introduces a new large cap ETF fund in the equity segment, called Mirae Asset S&P BSE Sensex ETF.
The subscription for this fund opened on September 22 and will remain open until September 26, 2023.
This fund falls under the open-ended category, allowing investors to redeem their investments as per their convenience.
If you aim to match the returns of the benchmark index Sensex, this scheme could be a valuable option for you.
Start Investing with Just ₹5,000
Investors can begin investing in the Mirae Asset S&P BSE Sensex ETF with a minimum investment of Rs 5,000, and they can subsequently invest in multiples of Re 1.
The benchmark for this ETF is S&P BSE Sensex TRI, and it comes with no exit load.
The scheme is managed by Ekta Gala and Vishal Singh and will be available for buying and selling starting from October 3, 2023.
The ETF will be listed on both NSE and BSE within five days from the allotment date.
Who Should Consider Investing?
The scheme’s objective, as stated by the fund house, is to generate returns in line with the performance of S&P BSE Sensex TRI, though there may be some tracking error.
It’s important to note that there’s no guarantee of achieving this objective. The scheme will invest in stocks from the S&P BSE Sensex Index with equal weighting.
Additionally, investments will be made in money market instruments, debt securities, or liquid schemes of domestic mutual funds.
Investors will have the opportunity to invest in 30 major companies and earn returns based on their performance.
The index, which is 40 years old, represents 40 percent of the total Indian stock market