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Home >> Blog >> Mirae Asset Nifty Total Market Index Fund NFO: Date & NAV

Mirae Asset Nifty Total Market Index Fund NFO: Date & NAV

  


Mirae Asset Nifty Total Market Index Fund: Complete Overview

Mirae Asset Nifty Total Market Index Fund is an open-ended Scheme that will track the Nifty Total Market Total Return Index. The scheme is launched by Mirae Asset Mutual fund under Mirae Asset AMC.

The scheme shall provide exposure to 750 companies across small, mid, large, and micro-cap segments. The Mirae Asset Nifty entire Market Index Fund seeks to gain development opportunities in both established and new industries, including banking, IT, pharmaceuticals, manufacturing, and fintech, by encompassing roughly 96% of the entire market capitalization on the NSE.

The NFO dates are 08 October 2024 to 22 October 2024 and the mutual fund scheme shall reopen for continuous Sales and repurchases from October 29, 2024, and carries a very high risk.

The Scheme’s assets allocation shall be 95 to 100% in Securities covered by the Nifty Total Market TRI and 0 to 5% in debt and money market instruments, instruments, and debt or liquid schemes of domestic mutual funds.

 

Fund Objective

To produce returns, without costs, that correspond to the Nifty Total Market Total Return Index's performance, subject to tracking inaccuracy.

Scheme Plan: 

Mirae Asset Nifty Total Market Index Fund-Direct Plan

Mirae Asset Nifty Total Market Index Fund-Regular Plan

Mirae Asset Mutual Fund Details

  • AUM of over Rs.161740.88 crore.

  • 38 Schemes in India currently.

Why the Nifty Total Market Index?

  • An avenue for exposure to the Indian market is the Nifty Total Market Index, which offers investors exposure to all market cap sectors listed on the NSE and, through its portfolio of 750 stocks, the entire Indian market.

  • Broad coverage: The Index includes about 96% of the total market capitalization of companies that are listed on the NSE.

  • Diversification: All 22 of the NSE's designated sectors are included in the Index. Additionally all 100 Large Cap, 150 Mid Cap, 250 Small Cap, and 250 Micro Cap stocks are included in the index.

  • Improved absolute performance: Throughout all periods, the Index outperformed the Nifty 500, Nifty 200, Nifty 100, and Nifty 50 indices. Additionally, in 12/19 Calendar Years (including YTD 2024), the Index did better than the similar indices.

Index Methodology

Free Float Market Capitalization.

Nifty Total Market TRI Returns 

The index returns for 1 year and 5 years are 42.12% and 22.76 % respectively.

Indian Market Decade Ago vs Now

 

Parameters

Now

Decade Ago

GDP/Capita (USD)

2485 

1438

GDP Growth Rate

7.6%

6.4%

Export (% of GDP)

21.9% 

14.9% 

Forex Reserve (USD Bn)

684

317 

 

Total Market Investment Strategy

  • Huge Segment is passive.

  • The US Total Equity ETF AUM is around 8% of the $660 billion Equity Total Market ETF.

  • With $7.6 trillion of equities ETFs, the US has the largest ETF market.

Nifty Total Market Index: Market coverage

  • 96% comprehensive market coverage for all market caps.

  • Comprises all varieties and sizes: Established MNCs, growing firms, startups, and niche businesses.

Click Here To Stay Updated With The Upcoming NFO.

 

Fund Overview

Start Date

08 October 2024

End Date

22 October 2024

Allotment Date/Subscription Date/Re-open Date

The scheme reopens on 29 October 2024, for continuous sales and repurchases.

VRO Rating

-

Expense Ratio

Nil

Exit Load

Nil

AUM 

Rs.1,61,740.88 crore.

Lock-in

NA

Stamp Duty

0.005% (From July 1st 2020)

Benchmark(s)

Nifty Total Market TRI.

Min. Investment

Rs.5000 and in multiple of Rs.1 thereof.

Risk

Very High Risk

Short-Term Capital Gains (STCG)

For less than a year, as per Tax Slab

Long-Term Capital Gains (LTCG)

For more than 1 year, a 12.50% Tax is applicable.

 

How to apply for the fund after the NFO?

If you have missed participating in the NFO and now want to invest in the same Scheme on a continuous basis, then on 29 October 2024, when the Scheme will reopen; you will have the option to participate and invest directly in the Mutual Fund by spending at NAV based price by logging on to your Demat account and search for “Mirae Asset Nifty Total Market Index Fund” or directly with the AMC or simply click the ‘Banner’ below.

 

Asset Allocation (% of Total Assets) of the Scheme's portfolio will be as follows:

Types of Instruments

Minimum Allocation (% of Total Assets)

Maximum Allocation (% of Total Assets)

Securities covered by the Nifty Total Market Index TRI.

95

100

Debt and money market instruments, instruments, and debt or liquid schemes of domestic mutual funds

0

5

 

Peers of Mirae Asset Nifty Total Market Index Fund

Scheme

1Y Return

AUM (Rs.) / Fund Size (Rs.)

Groww Nifty Total Market Index Fund Direct-Growth

41.40%

219.43 Cr

Bandhan Nifty Total Market Index Fund Direct-Growth

-

34.98 Cr

 

Risk Factors In Such Funds

  • Equities-related securities are volatile because they are subject to daily price fluctuations. The liquidity of investments made in the Scheme may be restricted by trading volumes and settlement delays. Unexpected occurrences could cause settlement times to significantly extend.

  • Investing in stocks and equity-related instruments carries some risk, thus potential buyers should only buy equity schemes if they have the ability to take on the risk of losing their money.

  • Securities that have no listing on exchanges are by definition illiquid and carry a larger liquidity risk than securities that have listings on the markets or offer investors extra exit options, like put options.

 

Past Performance of Nifty Total Market Index Funds

Scheme

NAV (Rs.)

Annualised Return

Risk

Groww Nifty Total Market Index Fund Direct-Growth

14.06

41.40%

Very High

Bandhan Nifty Total Market Index Fund Direct-Growth

10.29

-

Very High

 

Mirae Asset Nifty Total Market Index Fund-Fund Managers

  • Ms. Ekta Gala.

  • Mr. Vishal Singh.

Conclusion

Mirae Asset Nifty Total Market Index Fund provides an investment avenue in diversified portfolios, covering almost 96% of the Indian market. The fund encompasses companies with all market caps, thereby reducing the risk with diversified exposure. With immense growth potential in established as well as emerging sectors, the fund is quite perfect for high-risk investors who are willing to have a long-term return.

Disclaimer: This NFO analysis is provided solely for informative purposes and should not be considered investment advice. Always conduct research and talk with a financial advisor before investing.



Frequently Asked Questions

+

A mutual fund is an established fund that is already open for investment and has a track record of performance, whereas an initial public offering (NFO) is a new fund that invites investors to purchase units.

 

+

22 October 2024.

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You can apply for NFO via online platforms such as AMC’s website, and channel partner website, by filling out an application form, and the mobile apps of Fund House. It's important to research the AMC performance before investing.



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