Mirae Asset Mutual Fund, one of the fastest-growing fund houses in India, on January 10 announced the launch of Mirae Asset Nifty India Manufacturing ETF, an open-ended scheme replicating/tracking Nifty India Manufacturing Total Return Index, and the Mirae Asset Nifty India Manufacturing ETF FOF, an open-ended fund of fund scheme predominantly investing in Mirae Asset Nifty India Manufacturing ETF.

The NFO for both the funds has opened for subscription on January 10, 2022. While the Mirae Asset Nifty India Manufacturing ETF will close on January 20, 2022, the Mirae Asset Nifty India Manufacturing ETF FOF will close on January 24, 2022.

The minimum initial investment in both the schemes will be Rs 5,000 and multiples of Re 1 thereafter. These funds allow investors the opportunity to participate in potential emerging segments like electric vehicles, electronics, battery tech and defence, among others.