Mirae launches Nifty Index Fund, Nifty LargeMidcap250 Index Fund

Mirae Asset Investment Managers on Thursday launched two new fund offers — Mirae Asset Nifty 50 Index Fund and Mirae Asset Nifty LargeMidcap 250 Index Fund.

Mirae Asset Nifty 50 Index Fund aims to generate returns, before expenses, that are commensurate with the performance of the Nifty 50 Total Return Index, subject to tracking error. There is no assurance or guarantee that the investment objective of the scheme would be achieved.

Mirae Asset Nifty LargeMidcap 250 Index aims to generate returns, before expenses, that are commensurate with the performance of Nifty LargeMidcap 250 Total Return Index.

“There is no assurance or guarantee that the investment objective of the scheme would be achieved. The index aims to reflect the performance of all large cap and all mid cap companies listed at NSE with 50 per cent weight allocated to each segment. The 250 stocks of Nifty LargeMidcap 250 Index are the combination of the universe of stocks forming part of Nifty 100 and Nifty Midcap 150 Indices, offering a broad-based exposure to the Indian equity market,” it said in a release.

The NFOs of both the schemes, that opened on Thrusday, will close on October 18. Both the schemes will re-open for continuous sale and repurchase on October 25.