The FANG+ companies have a total market cap of US$7.7 trillion
Mumbai’s Mirae Asset Investment Managers India, one of the fastest growing fund houses in the country in the equities and debt segments, has launched India’s first FANG+ based products, ‘Mirae Asset NYSE FANG+ ETF’, an open-ended scheme replicating/tracking NYSE FANG+ Total Return Index, and ‘Mirae Asset NYSE FANG+ ETF Fund of Fund’, an open-ended fund of fund scheme predominantly investing in Mirae Asset NYSE FANG+ ETF.
The New Fund Offer (NFO) for both the funds opened for subscription on 19 April 2021. While the FANG+ETF will close on 30 April 2021, the FANG+ETF Fund of Fund will close on 3 May 2021.
The Mirae Asset NYSE FANG+ ETF will be managed by Siddharth Srivastava, while the Mirae Asset NYSE FANG+ ETF Fund of Fund will be managed by Ekta Gala.
The ‘Mirae Asset NYSE FANG+ ETF Fund of Fund’ will also offer investors the options for a Regular Plan and Direct Plan with Growth Option.
Key Highlights:
• The NYSE FANG+ Index is an equal weighted Index designed to represent a segment of the technology and consumer discretionary sectors consisting of highly-traded growth stocks.
• The NYSE FANG+ Index will provide Indian investors with the opportunity to get exposure in global innovation leaders, such as Facebook, Amazon, Apple, Netflix, Alphabet (Google), Tesla, Twitter among others.
• These sectors and companies reflect long-term mega-trends that have the power to transform economies, business and society.
Seven out of the 10 companies in the NYSE FANG+ Index have made it to the list of top 50 innovative companies for the year 2020 as per Boston Consultancy Group. Four of these companies are serial innovators (been part of the Top 50 list over 10 times)
• The FANG+ companies have a total market cap of US$7.7 Trillion, their revenues would amount to 3x of the Indian government’s total receipt for FY 2019-20, their cash holdings of US$500 billion are equivalent to 85% of India’s forex reserves, and Net Income of US$179 billion would exceed the combined net income of all Indian equities.
• Investing in the FANG+ Index will also allow Indian investors to benefit from rupee depreciation.
“There are a few global companies that do not just follow future mega-trends but rather drive the change with their constant innovations. They have not just shaped our society; they have provided good returns to investors for years together. Through the Mirae Asset NYSE FANG+ ETF’, and the ‘Mirae Asset NYSE FANG + ETF Fund of Fund’ they can participate in this global growth story, and consequently feel like they too are part of the change driving our world today,” said Swarup Mohanty, CEO, Mirae Asset Investment Managers (India) Pvt Ltd.
Siddharth Srivastava, Fund Manager for Mirae Asset NYSE FANG+ ETF, said, “Mirae Asset NYSE FANG+ ETF and Fund of Fund will provide investors the option to take focused and equal weighted exposure in the 10 high growth innovative technology companies which are at the forefront of several mega-trends.
“These companies are leader in their respective domain and are changing the world we live in through constant innovation and have become part of our daily lives. Through these offerings, investor can take low cost exposure in global markets and participate in the growth story of these companies.
“In last 5 years, NYSE FANG+ index has significantly outperformed both NASDAQ 100 index and NIFTY 50 index with better return to risk profile.”
The minimum initial investment in both the schemes will be Rs.5,000 and multiples of Rs.1 thereafter during the NFO. #investment #bankings fund /fiinews.com
