Investments company Mirae Asset has launched Mirae Asset Nifty Financial Services ETF. This is the first such open ended scheme in the country which is based on the Nifty Financial Services Total Return Index. This New Fund Offer (NFO) for subscription will open on July 22 and will be open for investment till July 29. After this, it will open for regular sale and re-purchase on 3 August 2021. For subscription, you can invest at least 5 thousand rupees in it and after that in multiples of 1 rupee.
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Key highlights of Mirae Asset Nifty Financial Services ETF
- Financial services include not only banks but also NBFCs (Non-Banking Financial Companies), insurance, capital markets, etc. and at this time the investment of investors in these sectors is increasing.
- Through this fund, investors are being provided an opportunity to invest in that sector which is the main factor for the growth of the economy.
- The scope of financial services is very diversified which is expanding rapidly due to digitization, new products and services.
- Since it has less reach in all the areas at present, due to which there is a lot of scope for its expansion.
- Investing in this fund is better for those who are looking for investment options for at least five years.
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The fund’s expense ratio is 0.13 per cent.
Through Mirae Asset Nifty Financial Services ETF, investors will get an opportunity to indirectly invest in 20 companies from different segments. The Financial Services Total Return Index has given a return of 18.3 per cent in the last five years, while the Nifty 50 index has delivered 15.1 per cent and the Nifty Bank index has given 14.6 per cent. Its expense ratio is 13 bps i.e. 0.13 percent. It will be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).