Mirae Asset Nifty Midcap 150 ETF is an open-ended scheme that will track the Nifty Midcap 150 Total Return Index.
New NFO: Veteran fund house Mirae Asset Mutual Fund has launched a new fund. The fund house has announced the launch of ‘Mirae Asset Nifty Midcap 150 ETF’. It is an open-ended scheme tracking the Nifty Midcap 150 Total Return Index. This NFO (New Fund Offer) has opened for subscription on 24 February 2022 and you will be able to invest money in this NFO till 4 March 2022.
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Mirae Asset Nifty Midcap 150 ETF Details
- It is an open-ended scheme that will track the Nifty Midcap 150 Total Return Index. Nifty Midcap 150 Index tracks companies comprising 150 midcaps. Nifty Midcap 150 Total Return Index has given better returns than Nifty50 and Nifty100 in the last 1, 3, 5, 7, 10 and 15 years.
- You will be able to invest in this NFO till March 4. After this, a week later, on March 11, 2022, it will re-open for purchase and sale again.
- Under this scheme, investors will have to invest at least Rs 5000 and after that they can invest in multiples of Rs.
The group of emerging companies is the midcap segment
The midcap segment is a group of emerging companies in the Indian industry. In the midcap segment, there are those companies whose market cap is more than Rs 5 thousand crores but less than Rs 20 thousand crores. Nifty Midcap 150 comprises 150 companies including IDFC First Bank, BHEL, IRCTC, Ashok Leyland, Fortis, Prestige, Bata India, IRFC, RBL Bank and LIC Housing Finance. Nifty Midcap 150 Index has given better returns than Nifty50 and Nifty100 in the last 15 years which can be seen in the table below-
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