Mirae Asset Mutual Fund has launched a new fund called FANG+ Total Return Index ETF.
The NYSE FANG+ Index is an equal-dollar weighted Index designed to represent a segment of the technology and consumer discretionary sectors consisting of 10 highly-traded growth stocks of technology and tech-enabled companies.
NYSE FANG+ Index constitutes of 10 stocks – Alibaba, Facebook, Alphabet, Apple, Baidu, Nvidia, Amazon, Netflix, Twitter and Tesla.
Features:
- Focused and equal weighted exposure in high growth technology, internet and media stocks
- Portfolio of companies that are geared to participate in future technology disruptions
- Provides passive international exposure predominately to the U.S. market
- Provides an avenue to benefit also from rupee depreciation
The fund will be managed by Siddharth Srivastava. The NFO opened on April 19 and closes on April 30. The minimum investment is Rs 5,000. The scheme re-opens from May 7. The ETF will be listed on BSE and NSE.
