Mirae Asset Investment Managers (India) has announced the launch of the Mirae Asset Nifty India Internet ETF, an open-ended exchange-traded fund (ETF). This new ETF is designed to track the Nifty India Internet Total Return Index, providing investors with a platform to invest in the expanding digital economy of India. The ETF will be open for subscription with a New Fund Offer (NFO) starting from June 18, 2025, until June 25, 2025, after which it will be available for continuous sale and repurchase beginning July 2, 2025.
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The fund is managed by Ekta Gala and Akshay Udeshi, and investors can participate with a minimum investment of ₹5,000 during the NFO period, with subsequent investments in multiples of ₹1. This flexibility allows investors to easily adjust their holdings according to market conditions and personal financial goals.
The underlying index, Nifty India Internet Index, comprises 21 stocks selected from the broader Nifty Total Market Index. It represents a diverse set of companies that predominantly operate through online or digital business models. The index includes companies across various market capitalisations, such as large-, mid-, and small-cap firms, ensuring a broad exposure to the internet sector. The index is subject to quarterly rebalancing and semi-annual reconstitution, with each stock capped at a 20% weight during rebalancing to maintain diversified exposure. This structured approach helps in mitigating risks associated with market volatility while capturing growth in the digital domain.
The launch of this ETF aligns with a growing trend among investors seeking opportunities within India’s rapidly growing digital economy, which encompasses sectors such as e-commerce, fintech, online media, travel, and food delivery. This move by Mirae Asset positions the company alongside other industry players who are capitalising on the digital shift.
Major competitors in the ETF space include BlackRock and Vanguard, both of which have substantial market shares and offer a range of ETFs covering various sectors, including technology and emerging markets. By entering this competitive market, Mirae Asset aims to leverage its expertise and provide investors with innovative solutions tailored to modern economic trends.