Mirae Asset Mutual Fund NFO 2024 :If you want a strong portfolio with the stocks of public sector banks, then you have a good opportunity. Mirae Asset Mutual Fund has launched its New Fund Offer (NFO). This new scheme has been launched in the name of Mirae Asset Nifty PSU Bank ETF, which is an open-ended equity scheme and its benchmark is NIFTY PSU Bank TRI. This new fund offer is opening on 24 September 2024 and will close on 30 September 2024.
Issue Open: September 24, 2024
Issue close: September 30, 2024
Category : Equity Sectoral Banking
Minimum investment: Rs 5,000 and thereafter in multiples of Rs 1
Lock-in period: Nil
Exit Load : None
Benchmark : NIFTY PSU Bank TRI
Mutual Fund Return: 2 crores made with 1000 rupees monthly SIP, HDFC Mutual Fund scheme did this amazing job
Objective of launching the fund
Public sector banks have performed strongly in the last few years. Due to the great rise in the shares of PSU banks, the Nifty PSU Bank Index has also strengthened. There is a possibility of further rise in them. To take advantage of this return, Mirae Asset Mutual Fund has announced the launch of this new ETF. Talking about this year, the Nifty PSU Bank Index has increased by about 35 percent. In the last one year, the PSU Bank Index has increased by more than 55 percent.
Return: 10 most economical mutual funds, top the return chart, money is growing 24 to 30% annually in SIP
Why PSU banks are a hot topic
The asset quality in the PSU bank segment has improved over the last few years. Banks are well prepared to handle any risk and profitability has improved. The PSU Bank ETF aims to provide focused exposure to this segment, which has the potential to continue its current track of growth and profitability.
The PSU Bank index has outperformed many sectoral indices in the last 3 years due to improving profitability and asset quality. PSU banks provide wide access to rural and semi-urban India and play a key role in driving the economy’s growth, potentially paving the way for the next phase of growth. The Nifty Bank index has a lower allocation towards PSU banks, hence the PSU Bank ETF will provide investors focused exposure to this segment at a relatively low cost.
SIP in Index funds: Top 5 index funds, track record of high returns in every phase, SBI and HDFC mutual fund schemes also in the list
Stocks included in the Nifty PSU Bank Index
State Bank of India (SBI), Bank of Baroda, Canara Bank, Punjab National Bank (PNB), Union Bank of India, Indian Bank, Bank of India, Bank of Maharashtra, Indian Overseas Bank, Central Bank of India, UCO Bank and Punjab & Sind Bank.
(Source: ACE MF, NSE; Data as on August 31, 2024)
