Press Release

Mirae Asset Launches 1st-in-India Passive NYSE FANG+ Funds

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Business Wire India
Mirae Asset Investment Managers India, one of the fastest growing fund houses in the country in the equities and debt segments, today announced the launch of India’s first FANG+ based products, ‘Mirae Asset NYSE FANG+ ETF’, an open-ended scheme replicating/tracking NYSE FANG+ Total Return Index and ‘Mirae Asset NYSE FANG+ ETF Fund of Fund’, an open-ended fund of fund scheme predominantly investing in Mirae Asset NYSE FANG+ ETF.
 
The NFO for both the funds will open for subscription on April 19, 2021. While the FANG+ETF will close on April 30, 2021, the FANG+ETF Fund of Fund will close on May 3, 2021.
 
The Mirae Asset NYSE FANG+ ETF will be managed by Mr Siddharth Srivastava, while the Mirae Asset NYSE FANG+ ETF Fund of Fund will be managed by Ms Ekta Gala. The ‘Mirae Asset NYSE FANG+ ETF Fund of Fund’ will also offer investors the options for a Regular Plan and Direct Plan with Growth Option.
 
Key Highlights:
 

  • The NYSE FANG+ Index is an equal weighted Index designed to represent a segment of the technology and consumer discretionary sectors consisting of highly-traded growth stocks.
  • The NYSE FANG+ Index will provide Indian investors with the opportunity to get exposure in global innovation leaders, such as Facebook, Amazon, Apple, Netflix, Alphabet (Google), Tesla, Twitter among others.
  • These sectors and companies reflect long-term megatrends that have the power to transform economies, business and society.
7 out of the 10 companies in the NYSE FANG+ Index have made it to the list of top 50 innovative companies for the year 2020 as per Boston Consultancy Group.4 of these companies are serial innovators (been part of the Top 50 list over 10 times)

 

  • The FANG+ companies have a total market cap of USD 7.7 Trillion, their revenues would amount to 3x of the Indian government’s total receipt for FY 2019-20, their cash holdings of USD 500 BN are equivalent to 85% of India’s forex reserves, and Net Income of USD 179 Bn would exceed the combined net income of all Indian equities.
  • Investing in the FANG+ Index will also allow Indian investors to benefit from rupee depreciation.

 
“There are a few global companies that do not just follow future megatrends but rather drive the change with their constant innovations. They have not just shaped our society; they have provided good returns to investors for years together. Through the Mirae Asset NYSE FANG+ ETF’, and the ‘Mirae Asset NYSE FANG + ETF Fund of Fund’ they can participate in this global growth story, and consequently feel like they too are part of the change driving our world today,” said Mr. Swarup Mohanty, CEO, Mirae Asset Investment Managers (India) Pvt. Ltd.

Mr. Siddharth Srivastava, Fund Manager for Mirae Asset NYSE FANG+ ETF said, "Mirae Asset NYSE FANG+ ETF and Fund of Fund will provide investors the option to take focused and equal weighted exposure in the 10 high growth innovative technology companies which are at the forefront of several megatrends. These companies are leader in their respective domain and are changing the world we live in through constant innovation and have become part of our daily lives. Through these offerings, investor can take low cost exposure in global markets and participate in the growth story of these companies. In last 5 years, NYSE FANG+ index has significantly outperformed both NASDAQ 100 index and NIFTY 50 index with better return to risk profile."
 
The minimum initial investment in both the schemes will be Rs 5,000 and multiples of Re 1 thereafter during the NFO.
 
Disclaimers & product label:
 
Product Labelling
 
Mirae Asset NYSE FANG+ ETF is suitable for investors who are seeing*

  • Returns that are commensurate with the performance of NYSE FANG+
Total Return Index, subject to tracking error and foreign exchange movement

 

  • Investments in equity securities covered by NYSE FANG+ Total Return Index

 
* Investors should consults their financial advisors if they are not clear about the suitability of the product

Investors understand that their principal will be at Very High Risk
 
 
Product Labelling
 
Mirae Asset NYSE FANG+ ETF Fund of Fund is suitable for investors who are seeking*
 

  • To generate long term capital appreciation/income

 

  • Investments predominantly in units of Mirae Asset NYSE FANG+ ETF

 
* Investors should consult their financial advisors if they are not clear about the suitability of the product
Investors understand that their principal will be at Very High Risk
 
Source: Bloomberg, March 2021
 
For more information on the product, product labelling and risk-o-meter, Visit Website
Source: Internal 
 
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Click here to read about index & other disclaimers.
 

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