Mirae Asset Mutual Fund has announced the launch of its new fund offer 'Mirae Asset S&P 500 Top 50 Fund of Fund'. This fund is an open-ended equity scheme, which will invest in America's top 50 companies.
The NFO is open from 1 Sep 2021, and will close on 15 Sep 2021 and will re-open for purchase and redemption from 23 Sep 2021.
The investment objective of the scheme is to generate returns, before expenses, that are commensurate with the performance of the S&P 500 Top 50 Total Return Index, subject to tracking error and forex movement. The Scheme does not guarantee or assure any returns.
The Mirae Asset S&P 500 Top 50 ETF will be managed passively with investments in stocks in a proportion that match as close as possible to the weights of these stocks in S&P 500 TOP 50 Index.
The S&P 500 Top 50 consists of 50 of the largest companies from the S&P 500, reflecting U.S. megacap performance. Index constituents are weighted by float-adjusted market capitalization. The index is back-tested since June 2005 and the launch date for the index is November 2015.
The investment strategy of the Scheme will be to invest in a basket of securities forming part of S&P 500 TOP 50 Index in similar weight proportion.
The investment strategy would revolve around reducing the tracking error to the least possible through regular rebalancing of the portfolio, considering the change in weights of stocks in the Index as well as the incremental collections/redemptions in the Scheme. A part of the funds may be invested in debt and money market instruments, to meet the liquidity requirements.
Subject to the Regulations and the applicable guidelines the Scheme may invest in the schemes of Mutual Funds. The investment strategy shall be in line with the asset allocation mentioned under “Section II (c): How will the Scheme allocate its assets”.
The performance of the scheme will be benchmarked to the performance of the S&P 500 TOP 50 TRI index converted in Indian Rupee terms.
Types of Instruments
Indicative allocation (% of total assets)
Securities included in the S&P 500 TOP 50 Index
95% - 100%
Money market instruments / debt securities, Instruments and/or units of schemes of domestic Mutual Funds.
0 - 5%
Low to medium
Mirae Asset S&P 500 Top 50 ETF and Mirae Asset S&P 500 Top 50 ETF Fund of Fund
An open ended fund of fund scheme predominantly investing in Mirae Asset S&P 500 Top 50 ETF
NFO opens on
September 01, 2021
NFO closes on
September 15, 2021
Reopens for continuous sales & purchase
September 23rd , 2021
Minimum Investment NFO
Rs 5000 and multiples of Rs 1 thereafter
Minimum Investment after NFO
Rs 5000 and multiples of Rs 1 thereafter Additional Purchase: Rs 1000 (Minimum)
SIP/STP: Rs 5000 and multiples of Rs 1 thereafter
SIP Top up: Rs 500 and multiples of Rs 1 thereafter
If redeemed within 3 months of allotment: 0.50% | If redeemed after 3 months of allotment: NIL
Ms. Ekta Gala
S&P 500 Top 50 Index: Periodic performance
S&P 500 Top 50 Index: Calendar year performance
S&P 500 Top 50 Index: Rolling returns
This product is suitable for investors who are seeking*
Those who want exposure to American companies
Investors whose investment time horizon is five years or more, this scheme may be suitable for them.
If you have any query or wants any assistance please Call 9837346090 or fill your details by clicking below we will call you
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*Investors should consult their financial advisors if in doubt about whether the product is suitable for them
Note: The above information has been sourced from the Scheme Information Document provided by Mirae Asset Management. Read the entire document before investing, Disclaimer: Jaiprakash (ARN/Distributor - 70524; brand name Vasundhra Investment ) is the distributor of the mutual fund. Please consult your investment advisor before investing
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.