Mirae Asset Mutual Fund Announces Revision Of Exit Load And Fund Manager Changes

Mirae Asset Mutual Fund has implemented significant updates regarding its Fund of Funds (FoFs) and changes in fund management. The changes to the exit load structure will go into effect on October 30, 2024, while the fund management will change on November 1, 2024.

Changes to Exit Load Structure

Mirae Asset has revised the exit load for five of its FoFs. The exit load period for four funds has been reduced from three months to 15 days, while one fund will see its exit load period increased from 5 calendar days to 15 days.

• Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF FoF: The exit load will be 0.05 per cent if redeemed within 15 days of allotment, with no exit load applicable afterwards.

• Mirae Asset Nifty Midsmallcap 400 Momentum Quality 100 ETF FoF: Investors will face an exit load of 0.05 per cent if they redeem within 15 days of allotment, which was previously non-existent after three months.

• Mirae Asset Nifty India Manufacturing ETF FoF: The exit load will now be 0.05% for redemptions within the first 15 days of allotment, in contrast to its previous structure where there was no exit load after that period.

• Mirae Asset Nifty 200 Alpha 30 ETF FoF: This fund will have an exit load of 0.05 per cent for redemptions within 15 days, changing from a prior structure that allowed for redemptions within 5 days at the same rate.

• Mirae Asset Nifty 100 ESG Sector Leaders FoF: This fund will maintain an exit load of 0.05 per cent for redemptions made within both 5 days and 15 days of allotment.

According to Mirae Asset, these changes in exit load structure will apply to all prospective investments, including systematic transactions where registrations or enrollments have been made on or after the effective date.