This is an open ended fund of fund (FoF) scheme which predominantly invests in Mirae Asset S&P 500 Top 50 ETF.
| Good to know S&P 500 Top 50 Index The index comprises 50 largest companies from S&P 500 universe. It reflects the performance of the US mega-caps. |
Investment objective
The fund of fund (FoF) scheme, which will invest in units of Mirae Assets S&P 500 Top 50 ETF, aims to generate long-term capital appreciation. The FoF’s underlying ETF replicates or tracks S&P 500 Top 50 Index. This index consists of top 50 blue chip companies from the US S&P 500 universe. These 50 companies have a combined market capitalization of $23.2 trillion.
Through this FoF, investors can get exposure to some of the most innovative companies globally including Apple, Microsoft Corp and Amazon. More importantly, this S&P 500 Top 50 Index has outperformed India’s Nifty50 Index in the last five years.
Besides providing exposure to global players, this FoF also offers geographical diversification and the advantage of benefiting from depreciation of Indian rupee.
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Asset allocation
| Instrument | Allocation (% of total assets) | Risk profile | |
| Minimum | Maximum | ||
| Securities included in the S&P 500 Top 50 Index | 95 | 100 | High |
| Money market instruments / debt securities, instruments and/or units of schemes of domestic mutual funds | 0 | 5 | Low to medium |
Scheme details
| Name | Mirae Asset S&P 500 Top 50 ETF Fund of Fund |
| Type | An open ended fund of fund (FoF) scheme which predominantly invests in Mirae Asset S&P 500 Top 50 ETF |
| Category | Equity-fund of fund |
| Expense ratio | 1% |
| Benchmark | S&P 500 Top 50 Index |
| Load structure | Entry: Nil Exit: Within 3 months: 0.5% After 3 months: Nil |
| Fund managers | Ekta Gala |
| Options | Growth |
| Minimum application amount (during NFO) | ₹5,000 and in multiples of ₹1 thereafter |
| Additional application amount | ₹1,000 and in multiples of ₹1 thereafter |
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| This product is suitable for investors who are seeking*: | Riskometer |
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*Investors should consult their financial advisors if in doubt about whether the product is suitable for them.
Note: The above information has been sourced from the Scheme Information Document provided by Mirae Asset Management Limited. To read the entire document, click here.
Disclaimer
RKSV Securities India Private Limited (ARN/Distributor - 107930; brand name Upstox) is the distributor of the mutual fund. Please consult your investment advisor before investing.
Mutual fund investments are subject to market risks, read all scheme related documents carefully.