Mirae launches ESG ETF and FOF

By Morningstar |  26-10-20 | 

Mirae has launched India’s first ESG ETF, ‘Mirae Asset ESG Sector Leaders ETF’, an open-ended scheme tracking NIFTY 100 ESG Sector Leaders Total Return Index and ESG Fund of Fund, the ‘Mirae Asset ESG Sector Leaders Fund of Fund’, an open-ended fund of fund scheme predominantly investing in Mirae Asset ESG Sector Leaders ETF.

The NFO for both the funds will open for subscription on October 27, 2020 and will close on November 10, 2020.

Both the funds will be managed by Ms Bharti Sawant and will be benchmarked against the Nifty 100 ESG Sector Leaders Index (TRI).

Key Highlights:

  • Both funds will seek to track the performance of NIFTY 100 ESG Sector Leaders Index.
  • This new index by NSE comprises of true to the label ESG focused portfolio with underlying research by Sustainalytics, one of the leading ESG research providers globally.
  • Index consists of companies that have scored well on the management of Environmental, Social and Governance (ESG) Factors.
  • Index excludes companies with significant ongoing controversy and hence reduces price risk associated with it.
  • *NIFTY 100 ESG Sector Leader Index has outperformed NIFTY 100 and NIFTY 50 Indices historically with lower price volatility (i.e. better Return to Risk Profile).
  • NIFTY 100 ESG Sector Leaders Index has outperformed more than 90% of large-cap funds (Regular plan) for an investment horizon of 3 Year.
  • Provides a relatively low-cost option which may provide a chance to grow your wealth by investing in companies with responsible and sustainable business model.

The minimum initial investment in both the schemes is Rs 5,000 and multiples of Re 1 thereafter.

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