NFO Alert: Mirae Asset Mutual Fund launches Nifty Total Market Index Fund

Mirae Asset Mutual Fund has launched the Mirae Asset Nifty Total Market Index Fund, an open-ended scheme replicating/tracking the Nifty Total Market Total Return Index, which offers exposure to 750 companies across various market cap segments. The new fund offer (NFO) is open for subscription and will close on October 22. The scheme will reopen for continuous sale and repurchase on October 29.

The Nifty Total Market Index provides a comprehensive representation of the Indian equity market, offering exposure to large, mid, small, and micro-cap segments. This diversified approach may help investors capture growth opportunities across the evolving landscape of the Indian equity market, according to a release from the fund house.

The scheme will be benchmarked against the Nifty Total Market Total Return Index and will be managed by Ekta Gala and Vishal Singh. The minimum initial investment is Rs 5,000, with subsequent investments in multiples of Re 1.


The scheme will allocate 95-100% of its assets in equity securities covered by the Nifty Total Market Total Return Index, and 0-5% in money market instruments, debt securities, and/or units of debt or liquid schemes of domestic mutual funds.

"The Indian economy and stock market’s growth trajectory has led to the evolution of stock and sectoral composition of market cap segments with numerous opportunities existing across the board, and the Mirae Asset Nifty Total Market Index Fund seeks to allow investors to participate in this dynamic journey across large, mid, small and micro-cap segments, in a single diversified fund. The new fund aims to capture opportunities across sectors, from established to emerging, present across market cap segments, providing a comprehensive approach to wealth creation over the long term," said Siddharth Srivastava, Head-ETF Product, Mirae Asset Investment Managers (India).

The scheme is suitable for investors seeking returns that align with the performance of the Nifty Total Market Total Return Index, subject to tracking error over the long term and investment in securities constituting the Nifty Total Market Total Return Index.