Mirae Asset launches NFOs for BSE Midcap 150 Momentum 30 ETF, FOF

Mirae Asset Investment Managers (India) has launched the New Fund Offers (NFOs) for the Mirae Asset BSE Midcap 150 Momentum 30 ETF and the Mirae Asset BSE Midcap 150 Momentum 30 ETF Fund of Fund (FOF).

The ETF will replicate the BSE Midcap 150 Momentum 30 Total Return Index (TRI) by investing in its constituent stocks, while the FOF will invest predominantly in units of the ETF.

The NFO for the ETF will remain open for subscription from 6 July 2026 to 13 July 2026, while the FOF NFO will close on 20 July 2026. The ETF and FOF will reopen for continuous sale and repurchase on 17 July 2026 and 24 July 2026, respectively.

The underlying index follows a rules-based methodology to select 30 midcap stocks from the BSE Midcap 150 Index based on their 12-month risk-adjusted momentum score. It also applies liquidity filters, caps the weight of each stock at 5%, and is reviewed quarterly.

According to the fund house, the BSE Midcap 150 Momentum 30 Index has delivered annualised returns of 27.70% over 15 years, 28.62% over 10 years, 30.46% over five years, 33.87% over three years, and 13.07% over one year. Over the same periods, the BSE Midcap 150 TRI returned 16.49%, 18.03%, 18.31%, 21.21%, and 5.79%, respectively.

Mirae Asset said the momentum strategy aims to capture stocks exhibiting strong price trends, although it may experience higher volatility and drawdowns during market reversals. The fund house added that the scheme is suitable for investors with a higher risk appetite.

The minimum investment during the NFO period is Rs 5,000, with subsequent investments in multiples of Re 1. Both schemes will be benchmarked against the BSE Midcap 150 Momentum 30 TRI and will be managed by Ekta Gala and Vishal Singh.

Powered by Capital Market - Live News