Mirae AMC - MAFSETF

About Mirae Asset Nifty Financial Services ETF - MAFSETF

• Mirae Asset Nifty Financial Services ETF is an exchange-traded fund offered by the Mirae Asset Mutual Fund House.
• The ETF features stocks of leading financial services companies operating in India.
• The scheme was launched on July 30, 2021.
• Ekta Gala and Vishal Singh are the fund mangers for the ETF.
• Investment in Mirae Asset Nifty Financial Services ETF can be made via a demat account with a registered broker.
• The ETF units can be fought and sold just like an equity stock listed on the exchange.

Investment Objective & Benchmark

• Mirae Asset Nifty Financial Services ETF aims to offer returns that replicate the performance of equity stocks in the underlying index.
• The ETF is benchmarked against Nifty Financial Services Index, designed to track the performance of the stock market that includes banks, insurance firms and other financial services companies.
• India has seen a surge in income levels across demographics, which has triggered a spike in demand for financial services.
• The scheme largely covers companies with giant market capitalisation, limiting investors' risks.
• Fintech companies, in particular, have seen rapid growth in the last few years.

Asset Allocation & Portfolio Composition

• Mirae Asset Nifty Financial Services ETF has allocated over 99.5% of the funds for investment in equities. The remaining 0.42% is invested in other instruments such as debts and cash.
• The ETF has invested 94.47% of the funds in stocks of companies operating in the financial services sectors. The remaining 5.11% is invested in insurance stocks and 0.42 % is invested in companies from other sectors.
• Following a growth-oriented approach, the scheme invests in companies across market capitalisations. Giant cap companies make up 67.22% of the asset allocation. This is followed by 13.93% investing in large-cap, 14.87% in mid-cap and 3.98% in small-cap companies.
• The top 10 company holdings form 89.82% of the asset allocation.

The top 10 company holdings in holding Mirae Asset Nifty Financial Services ETF:

• HDFC Bank Limited - 17.96%
• ICICI Bank Limited - 16.51%
• State Bank of India - 8.24%
• Axis Bank Limited - 7.55%
• The Federal Bank Limited - 5.47%
• India Shelter Finance Corporation Limited - 4.14%
• LIC Housing Finance Limited - 3.09%
• Bajaj Finance Limited - 2.69%
• Fusion Micro Finance Limited - 2.63%
• Shriram Finance Limited - 2.60%

The ETF has delivered a return of 17.8% in the last year as of June 30, 2024.

Since its inception, Mirae Asset Nifty Financial Services ETF has delivered a CAGR of 13.66%.