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Mirae Asset Mutual Fund has launched a new fund named as Mirae Asset NIFTY 50 ETF, an open ended scheme replicating/tracking Nifty 50 Index. The New Fund Offer (NFO) price for the scheme is Rs 100 per unit. The new issue will be open for subscription from 19 November to 19 November 2018.

The investment objective of the scheme is to generate returns, before expenses, that are commensurate with the performance of the Nifty 50 Index, subject to tracking error.

The Scheme does not offer any Plans/Options for investment.

The scheme would allocate 95%-100% of assets in securities included in the Nifty 50 Index with high risk profile, upto 5% of assets in Money market instruments / debt securities, Instruments and/or units of debt/liquid schemes of domestic Mutual Funds with low to medium risk profile.

The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter.

The minimum additional application amount is Rs 5000 and in multiples of Re 1 thereafter.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period.

Entry load: Nil

Exit Load: Nil

The performance of the scheme will be benchmarked to the performance of the Nifty 50 TRI index.

The fund manager for the scheme is Bharti Sawant.

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