Mirae Asset Mutual Fund launches ETF scheme replicating/tracking Hang Seng TECH Index

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Mumbai (Maharashtra) [India], November 22 (ANI/PRNewswire):The NFO for both the funds will open for subscription on November 17, 2021. While theThe Mirae Asset Hang Seng TECH ETF will be managed by Siddharth Srivastava, while theThe minimum initial investment in both the schemes will be Rs 5,000 and multiples of Re 1 thereafter.

Key Highlights:Provides exposure to 30 largest Tech-centric Chinese companies listed on Hong Kong Stock ExchangeMarket Cap of US$1.8 Tn, exceeding Market Cap of all BSE Sensex Index companies by 15%, and Revenue of US$463 Bn, exceeding Combined Revenue of all BSE Sensex 30 Companies by 15%Portfolio aims to provide exposure to multiple tech themes including Cloud, AI, IOT etc. Hang Seng TECH Index has outperformed Nifty50 Index in 5 out of 7 calendar years with significant outperformance in 2019 and 2020 but underperformance in 2018 and 2021 YTD. With recent corrections, the China market may provide an attractive investment opportunity at lower valuations. Hang Seng TECH Index is currently trading at 38% discount to its historical averageTech and Digital Economy has paved its way toward contributing to the China’s overall GDP exponentially. It is expected to contribute significantly in the coming years to the country’s GDP.

China is now ranked 2nd in terms of facilitating number of unicorn companies across the globe with major focus on consumer driven technology companiesThe Hang Seng TECH Index may provide Indian investors with the opportunity to get exposure in innovation leaders from a wide range of sectors such as Semiconductors, Software, IoT, Gaming, Industrial Automation, Autonomous Vehicles, Healthcare, IT, E-commerce, FinTech, Online Travel etc.

“This is the Asian century with China being one of the dominant economies, with a focus on achieving major breakthroughs in core technologies such as AI, semiconductors, cloud computing, and other key areas for its future growth. The recent correction in Hang Seng TECH Index may provide Indian investors an attractive opportunity to diversify and get exposure in the growing digital economy of China,” said Swarup Mohanty, DirectorCEO, Mirae Asset Investment Managers (India) Pvt. Ltd.

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