Mirae Asset launches Midcap Momentum ETF and FoF, NFOs open
Business
Mirae Asset just rolled out two new ways to invest in midcap stocks: its Midcap Momentum ETF and a fund of funds (FoF) that both track the BSE Midcap 150 Momentum 30 Index.
If you're interested, the NFOs open July 6: you've got until July 13 for the ETF and July 20 for the FoF.
ETF holds 30 midcap momentum stocks
The ETF invests directly in a mix of 30 midcap stocks picked for their strong momentum over the past year, with no single stock making up more than 5% of the fund.
The FoF is basically a way to invest in the same ETF without needing a trading account (just note that it comes with extra costs since you're paying fees for both layers).
Both options require at least ₹5,000 to start, and Mirae says these launches are part of its push into factor-based investing.