NFO Alert: Mirae Asset Investment Managers (India) has recently submitted a draft document with capital markets regulator SEBI for regulatory approval to launch India’s first Exchange Traded Fund (ETF) focused on the Electric Vehicles (EV) and New Age Automotive segment.
The ETF will be a first of its kind and is set to offer investors with long-term capital appreciation opportunities by investing in equity of companies that are at the forefront of the dynamic and rapidly evolving automotive sector thereby focusing towards sustainable development.
The ETF will track the newly launched Nifty EV & New Age Automotive Index, providing investors with a benchmark that truly reflects the innovative and forward-thinking nature of India’s electric vehicle and new age automotive industry.
The Nifty EV & New Age Automotive Index provides investors with a benchmark that accurately reflects the innovative and forward-thinking nature of India’s electric vehicle and new age automotive industry.
With this new offering, Mirae will be able to provide two specialized products dedicated to the Electric Vehicle sector—one targeting global companies involved in EV and New Age Automotive, and the other focusing solely on domestic companies within the same industry.Kanpur Stock
The ETF’s portfolio will also include companies that have received Production Linked Incentives (PLI) in the automobile and battery segments, and those participating in key industry initiatives such as the Society of Manufacturers of Electric Vehicles (SMEV) and the government’s Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) initiative. This strategic alignment ensures that the ETF is well positioned in aiming to benefit from government policies and incentives promoting the growth of the EV sector.Hyderabad Wealth Management
“This product will provide exposure to the current and upcoming ecosystem of EV and other new age automotive segments in India by capturing companies which currently have or are developing products and services in this spaceNew Delhi Wealth Management. This product will be a good addition to our existing lineup of exclusive products on global and domestic themes,” said Siddharth Srivastava, Head-ETF Products, Mirae Asset Investment Managers (India).
“We believe that companies that are part of disruptive themes like EV hold significant potential for growth especially if they have the first mover advantage in less penetrated markets like India. The long-term potential and opportunity size for EV and several other disruptions in the auto space is huge. Through this product, we want to provide an option for investors to take exposure in a portfolio of such companies,” said Swarup Anand Mohanty, Vice Chairman & CEO, Mirae Asset Investment Managers (India).
Guoabong Investment