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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 PSU Bank 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 PSU Bank 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 PSU Bank Index.