Mirae Asset MF introduces Nifty Next 50 ETF (MANXT50ETF)

Mirae Asset Mutual Fund (MF) has launched the Mirae Asset Nifty Next 50 ETF (MANXT50ETF), an open ended scheme replicating/ tracking Nifty Next 50 Total Return Index. The NFO opens for subscription on January 13, 2020 and closes on January 21, 2020. Entry load is nil and Exit load for Creation Unit Size will be nil levied on redemptions made by Authorized Participants/ Large Investors directly with the Fund in Creation Unit Size; and Exit load for other than Creation Unit Size will be nil for the Units of MANXT50ETF in other than Creation Unit Size cannot ordinarily be directly redeemed with the Fund. These Units can be redeemed (sold) on a continuous basis on the Exchange(s) where it is listed during the trading hours on all trading days. The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter.

The scheme’s performance will be benchmarked against Nifty Next 50 TRI (Total Return Index) and its fund manager is Bharti Sawant.

The investment objective of the scheme is to generate returns, before expenses, that are commensurate with the performance of the Nifty Next 50 Total Return Index, subject to tracking error.