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Mirae Asset Mutual Fund has filed offer document with SEBI to launch an open-ended scheme traded fund named ‘Mirae Asset Nifty EV and New Age Automotive ETF'. The offer for Sale of Units at 1/1000th value of the Nifty EV and New Age Automotive closing Index. Entry load and Exit load will be nil. The Scheme does not offer any Plans/Options for investment and minimum target subscription amount for the Scheme to be raised is Rs 5 crore.

The performance of the scheme will be benchmarked against Nifty EV and New Age Automotive TRI (Total Return Index). The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter.

The investment objective of the scheme is to generate returns, before expenses that are commensurate with the performance of the Nifty EV and New Age Automotive Total Return Index, subject to tracking error.