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Mirae Asset Nifty PSU Bank ETF A Complete Overview

Mirae Asset Mutual Fund is launching its Mirae Asset Nifty PSU Bank ETF on September 24, 2024, under the management of Mirae Asset Investment Managers (India) Private Limited. This open-ended ETF aims to replicate the Nifty PSU Bank Total Return Index.<br>

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Mirae Asset Nifty PSU Bank ETF A Complete Overview

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  1. Mirae Asset Nifty PSU Bank ETF: A Complete Overview Mirae Asset Mutual Fund is launching its Mirae Asset Nifty PSU Bank ETF on September 24, 2024, under the management of Mirae Asset Investment Managers (India) Private Limited. This open-ended ETF aims to replicate the Nifty PSU Bank Total Return Index. The minimum subscription for this ETF is Rs. 5000, with increments of Rs. 1 thereafter. The NFO closes on September 30, 2024, and trading begins on October 03, 2024. The fund is categorized as high-risk. The ETF will invest 95-100% in securities within the Nifty PSU Bank Index and 0-5% in money market instruments like debt securities or liquid mutual funds. The ETF’s goal is to generate returns by tracking the Nifty PSU Bank Index, which has shown strong performance, especially within PSU banks, compared to private sector banks. However, no returns are guaranteed. “The PSU Bank ETF provides focused exposure to a sector that shows continued growth and profitability,” says Siddharth, Head of ETF Products & Fund Manager. Indian Banking Sector Overview: Total Deposits: Rs.168.4 lac crore CASA: 42.1% N.I.I (Net Interest Income): Rs.4.9 lac crore

  2. Profit After Tax: Rs.1.7 lac crore Key Facts: Start Date: September 24, 2024 Close Date: September 30, 2024 Benchmark: Nifty PSU Bank TRI Min. Investment: Rs.5000 Risk Level: Very High Benefits of Mirae Asset Nifty PSU Bank ETF: High liquidity with real-time NAV Low trading costs Strong focus on PSU banks Conclusion: Mirae Asset Nifty PSU Bank ETF o?ers an attractive opportunity for investors seeking long- term returns by tracking the performance of PSU banks. However, being a high-risk investment, careful consideration of risk tolerance is essential.

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