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Mirae Asset Mutual Fund has filed offer document with SEBI to launch an open-ended scheme investing in allocation fund named ‘Mirae Asset Nifty Metal ETF’. The New Fund Offer price will be units at 1/100th value of the Nifty PSU Bank closing Index. Entry load and exit load will be nil. The Scheme does not offer any Plans/Options for investment and seeks to collect a Minimum Target Amount of Rs 5 crore.

The performance of the scheme will be benchmarked by Nifty Metal Total Return Index. The minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter.

The investment objective of the scheme is to generate returns, before expenses, that are commensurate with the performance of the Nifty Metal Total Return Index, subject to tracking error. The Scheme does not guarantee or assure any returns.