NFO: Mirae Asset Launches Two New Funds to Tap into India’s Evolving Consumer Landscape

Mirae Asset Mutual Fund has announced the launch of two new investment schemes designed to provide investors with an opportunity to tap into India’s growing discretionary consumption market.

The schemes – Mirae Asset Nifty India New Age Consumption ETF and Mirae Asset Nifty India New Age Consumption ETF Fund of Fund, aim to capitalise on the evolving spending patterns of Indian consumers, driven by demographic shifts and rising disposable incomes.

NFO Details

Mirae Asset Nifty India New Age Consumption ETF: This fund opened for subscription on December 12, 2024 and will close on December 20, 2024. After the new fund offer (NFO) period, it will re-open for subscription and repurchase on December 27, 2024.

Mirae Asset Nifty India New Age Consumption ETF Fund Of Fund: This fund also opened for subscription on December 12, 2024 and will close on December 26, 2024. The fund will re-open for continuous subscription and repurchase on January 3, 2025.

Both schemes allow investors to start with a minimum investment of Rs 5,000, with subsequent investments in multiples of Re 1.

According to press release of Mirae Asset Fund, the Mirae Asset Nifty India New Age Consumption ETF tracks the Nifty India New Age Consumption Index, which comprises 75 stocks from emerging sectors such as eCommerce, fintech, wealth management, tours and travels, real estate, consumer electronics, and entertainment. This index captures India’s non-food spending in the Business-to-Consumer (B2C) discretionary segment, focusing on discretionary and aspirational spending driven by India’s changing consumer landscape.

Elsewhere, the Mirae Asset Nifty India New Age Consumption ETF Fund of Fund will invest directly in units of the Mirae Asset Nifty India New Age Consumption ETF, offering an indirect exposure to the same market dynamics.

Siddharth Srivastava, Head-ETF Product & Fund Manager at Mirae Asset, stated, “India’s evolving spending patterns, driven by demographic advantages, the rise of new-age companies, digitalization, and growing disposable incomes, make the Mirae Asset Nifty India New Age Consumption ETF and Fund of Fund ideal for capturing the growth in India’s discretionary and aspirational consumption segment.”

Who Should Invest?

According to Mirae Asset Mutual Fund, the schemes are intended for investors seeking long-term exposure to India's expanding market for discretionary expenditure, which is being driven by changes in the country's demographics and rising disposable incomes. They are perfect for anyone who are interested in industries like consumer electronics, fintech, and e-commerce.