Mirae Asset Investment Managers (India) Pvt. Ltd. is excited to announce the launch of India’s first Exchange Traded Fund (ETF) dedicated to the Electric Vehicles (EV) and New Age Automotive sectors. The ‘Mirae Asset Nifty EV and New Age Automotive ETF’ is an open-ended scheme that replicates or tracks the Nifty EV and New Age Automotive Total Return Index, offering investors the potential for long-term capital appreciation by investing in the equity of companies at the forefront of the evolving automotive industry and its entire value chain.
This innovative ETF will focus on companies involved in emerging segments such as Electric Vehicles, Hybrid Vehicles, and Battery Manufacturing, while also targeting future disruptive technologies like Hydrogen-fuel cells and Autonomous Vehicles. The New Fund Offer (NFO) for the Mirae Asset Nifty EV and New Age Automotive ETF will be open for subscription from June 24, 2024, to July 05, 2024. The scheme will be managed by Ms. Ekta Gala and Mr. Akshay Udeshi. The minimum initial investment during the NFO period is Rs 5,000, with subsequent investments allowed in multiples of Re 1.
Mr. Swarup Anand Mohanty, Vice Chairman & CEO of Mirae Asset Investment Managers (India) Pvt. Ltd., commented on the launch: “With India’s first ETF focused on the Electric Vehicles and New Age Automotive segments, we aim to offer investors a unique opportunity to engage with the future of mobility. Our goal is to provide avenues for long-term capital appreciation while supporting sustainable development within the automotive sector. This ETF underscores our commitment to innovation and aligning investment opportunities with evolving market trends.”
Mr. Siddharth Srivastava, Head of ETF Products at Mirae Asset Investment Managers (India) Pvt. Ltd., added: “This product is designed to capture the potential of India’s dynamic automotive industry. By investing in companies leading advancements in EV and new automotive technologies across the value chain, this ETF offers investors exposure to the innovative and rapidly evolving ecosystem in this space. By focusing on both global and domestic themes, this product enriches our lineup of exclusive offerings, providing investors with diversified opportunities in the electric vehicle and new-age automotive segment.”
Key Highlights:
- India’s First ETF Focused on the Electric Vehicles (EV) and New Age Automotive Segment: Aims to offer investors long-term capital appreciation by investing in companies included in the Nifty EV & New Age Automotive Total Return Index.
- Comprehensive Ecosystem Coverage: The ETF’s portfolio will capture the entire ecosystem of companies involved in current and emerging disruptive technologies such as Electric Vehicles, Hybrid Vehicles, Battery Production, and Automation.
- Support for Key Government Initiatives: The ETF will target companies participating in initiatives like the Faster Adoption & Manufacturing of Electric Vehicles (FAME) and Production Linked Incentive (PLI) schemes.
The ETF’s portfolio will also include companies that have received Production Linked Incentives (PLI) in the automobile and battery segments, and those participating in industry initiatives such as the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme.
With this launch, Mirae Asset Investment Managers aims to provide investors with a strategic avenue to capitalize on the rapid advancements in the automotive sector, ensuring alignment with global sustainability trends and innovative market opportunities.
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