Mirae Asset Mutual Fund Launches Gold ETF

Mumbai: Mirae Asset Mutual Fund, one of the fastest-growing fund houses in India, announced the launch of Mirae Asset Gold ETF.

Mirae Asset ETF is a part of Mirae Asset Mutual Fund and is used for Exchange Traded Funds managed by Mirae Asset Investment Managers (India) Private Limited.

The New Fund Offer (NFO) opened on February 9, 2023, and closes on February 15, 2023. The allotment date is February 20, 2023, and the first NAV (Net Asset Value) date is February 21, 2023. ETF Listing will be done on the stock exchanges within five working days from the date of allotment. Investors can buy and sell units of the ETF from February 21, 2023, on stock exchanges where the ETF will get listed. The fund will be managed by the fund manager, Ritesh Patel of Mirae Asset Mutual Fund.

During the NFO, an investor can invest a minimum of Rs 5,000 or any quantum above that in multiples of Re.1.

In 2023, Inflation and central bank intervention through policy rates may be considered as the key Gold Driver in 2023. The launch comes at a time when external global dynamics create challenges for the growth of the domestic and global economy making gold a relatively safe haven for investors. Gold can be assessed by investors as an important component of asset allocation.

Headquartered in South Korea, Mirae Asset Global Investments Ltd has investment management operations in Hong Kong, United Kingdom, India, Vietnam, USA, Canada, Taiwan and Brazil. Apart from Asset Management, Mirae Asset Financial Group has business interest in Life Insurance, Securities and Investment & Venture Capital.