Mirae Asset Mutual Fund launches ETF scheme replicating/tracking Hang Seng TECH Index

– MIRAE ASSET HANG SENG TECH ETF (An open-ended scheme replicating/tracking Hang Seng TECH Total Return Index)

– MIRAE ASSET HANG SENG TECH ETF FUND OF FUND (An open-ended fund of fund scheme predominantly investing in units of Mirae Asset Hang Seng TECH ETF)

MUMBAI, India, Nov. 22, 2021 /PRNewswire/ — Mirae Asset Mutual Fund, one of the fastest growing fund houses in India which invests in the equities and debt segments, today announced the launch of ‘Mirae Asset Hang Seng TECH ETF’, an open-ended scheme replicating/tracking Hang Seng TECH Total Return Index and the ‘Mirae Asset Hang Seng TECH ETF Fund of Funds’, an open-ended fund of fund scheme predominantly investing in units of Mirae Asset Hang Seng TECH ETF.

The NFO for both the funds will open for subscription on November 17, 2021. While the Mirae Asset Hang Seng TECH ETF will close on November 29, 2021 & the Mirae Asset Hang Seng TECH ETF Fund of Fund will close on December 1, 2021.

The Mirae Asset Hang Seng TECH ETF will be managed by Mr. Siddharth Srivastava, while the Mirae Asset Hang Seng TECH ETF Fund of Fund will be managed by Ms. Ekta Gala. The Mirae Asset Hang Seng TECH ETF Fund of Fund will also offer investors the options for a Regular Plan and Direct Plan with Growth Option.

The minimum initial investment in both the schemes will be Rs 5,000 and multiples of Re 1 thereafter.

Key Highlights:

  • Provides exposure to 30 largest Tech-centric Chinese companies listed on Hong Kong Stock Exchange
  • Market Cap of US$1.8 Tn, exceeding Market Cap of all BSE Sensex Index companies by 15%, and Revenue of US$463 Bn, exceeding Combined Revenue of all BSE Sensex 30 Companies by 15%
  • Portfolio aims to provide exposure to multiple tech themes including Cloud, AI, IOT etc. Hang Seng TECH Index has outperformed Nifty50 Index in 5 out of 7 calendar years with significant outperformance in 2019 and 2020 but underperformance in 2018 and 2021 YTD. With recent corrections, the China market may provide an attractive investment opportunity at lower valuations. Hang Seng TECH Index is currently trading at 38% discount to its historical average
  • Tech and Digital Economy has paved its way toward contributing to the China’s overall GDP exponentially. It is expected to contribute significantly in the coming years to the country’s GDP.
  • China is now ranked 2nd in terms of facilitating number of unicorn companies across the globe with major focus on consumer driven technology companies
  • The Hang Seng TECH Index may provide Indian investors with the opportunity to get exposure in innovation leaders from a wide range of sectors such as Semiconductors, Software, IoT, Gaming, Industrial Automation, Autonomous Vehicles, Healthcare, IT, E-commerce, FinTech, Online Travel etc.

“This is the Asian century with China being one of the dominant economies, with a focus on achieving major breakthroughs in core technologies such as AI, semiconductors, cloud computing, and other key areas for its future growth. The recent correction in Hang Seng TECH Index may provide Indian investors an attractive opportunity to diversify and get exposure in the growing digital economy of China,” said Mr.Swarup Mohanty, Director & CEO, Mirae Asset Investment Managers (India) Pvt. Ltd.

About Mirae Asset Group

Mirae Asset Global Investments (India) Private Limited (“MAGI India”) has transferred its asset management business to its wholly owned subsidiary, Mirae Asset Investment Managers (India) Private Limited (“Mirae AMC”), as part of internal restructuring of its business with effect from January 1, 2020. Over the last 2 decades Mirae Asset Global Investments Ltd. (the sponsor) has become one of the world’s largest investors in emerging market equities, managing total assets of over USD 217.9 billion as on 30th September 2021. Headquartered in South Korea, Mirae Asset Global Investments Ltd also has investment management operations in Hong Kong, United Kingdom, India, Vietnam, USA, Canada, Taiwan and Brazil. Apart from Asset Management, Mirae Asset Financial Group has business interest in Life Insurance, Securities and Investment & Venture Capital.

Disclaimers & product label: https://www.miraeassetmf.co.in/docs/default-source/marketing/disclaimerscbcadf5c766e46b88fd27d8755cc4e5a.pdf?sfvrsn=6df1df47_2 

 MIRAE ASSET HANG SENG TECH ETF

(An open-ended scheme replicating/tracking Hang Seng TECH Total Return Index)

New Fund Offer opens on: November 17, 2021 | New Fund Offer closes on: November 29, 2021

Scheme reopens for continuous Sale and Repurchase: December 8, 2021

ETF Listing on exchange: Within 5 working days from the date of allotment

Product Labelling 

Mirae Asset Hang Seng TECH ETF is suitable for investors who are seeking* 

  • Returns that are commensurate with the performance of Hang Seng TECH Total Return Index, subject to tracking error and foreign exchange movement 
  • Investments in quity securities covered by Hang Seng TECH Total Return Index

*Investors should consult their financial advisers, if they are not clear about the suitability of the product.

MIRAE ASSET HANG SENG TECH ETF FUND OF FUND

(An open-ended fund of fund scheme predominantly investing in units of Mirae Asset Hang Seng TECH ETF)

New Fund Offer opens on: November 17, 2021 | New Fund Offer closes on: December 01, 2021

Scheme reopens for continuous Sale and Repurchase: December 9, 2021

Product Labelling

Mirae Asset Hang Seng TECH ETF Fund of Fund is suitable for investors who are seeking* 

  • To generate long term capital appreciation/income 
  • Investments predomiantly in units of Mirae Asset Hang Seng TECH ETF

*Investors should consult their financial advisers, if they are not clear about the suitability of the product.

Mutual fund investments are subject to market risks, read all scheme related documents carefully.

^Source: Bloomberg data as on Sep 30, 2021; Exchange rate of Bloomberg are used for conversion of index value from HKD to INR. Past performance may or may not sustain in future. The index return is in Total Return Variant. The data shown above pertains to the Index and does not in manner indicate performance of any scheme of the Fund. Risk is nothing but computed as annualized standard deviation of daily return observation for specific investment horizon for all the indices using their INR total return variant.

For further information, contact:

Rajesh Joshi

The Good Edge

[email protected]  

M: +91-9833171525

Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Business Upturn takes no editorial responsibility for the same.

Subscribe to our newsletter
Subscribe to our newsletter
Sign up here to get the latest news delivered directly to your inbox.
You can unsubscribe at any time