Daily Financial News: Home > Personal Finance > Fund News > Mirae Asset MF launches Nifty Metal ETF Fund of Fund; NFO to open on Feb 10

Mirae Asset launches Nifty Metal ETF Fund of Fund managed by Ekta Gala and Akshay Udeshi, tracking Nifty Metal Index. NFO runs from February 10 to 23, 2026, minimum investment is ₹5,000.

By Anshul February 9, 2026, 12:41:14 PM IST (Updated)

Mirae Asset Investment Managers (India) has launched the Mirae Asset Nifty Metal ETF Fund of Fund (FOF), an open‑ended scheme that will invest in units of the Mirae Asset Nifty Metal ETF.

According to the fund house, the underlying ETF tracks the Nifty Metal Index, which comprises companies engaged in India’s metals and mining sector, including producers of steel, aluminium, copper and zinc. The index follows a free‑float market capitalisation weighted methodology with defined stock and concentration limits.

The New Fund Offer (NFO) will open on February 10, 2026 and close on February 23, 2026, with the scheme scheduled to reopen for continuous subscription and redemption on February 27, 2026. The minimum investment during the NFO period has been set at ₹5,000, with subsequent investments allowed in multiples of ₹1.

The fund will be managed by Ekta Gala and Akshay Udeshi, Mirae Asset said.

Mirae Asset noted that the metals sector enters 2026 amid shifting global and domestic dynamics. Global prices remain influenced by trade policies, supply constraints in select non‑ferrous metals, and policy actions in major producing economies.

Domestically, demand is linked to infrastructure spending, industrial activity and energy transition investments, while remaining sensitive to commodity price swings and input costs.

The fund house added that ferrous metals in the index are driven largely by domestic infrastructure demand and global supply‑demand balances, while non‑ferrous metals are tied to trends such as electrification, renewable energy expansion and industrial activity.

As this is a fund of fund, investors will bear the recurring expenses of both the FOF and the underlying ETF. Mirae Asset also stated that the product labelling assigned during the NFO is based on an internal assessment and may change after the scheme begins actual investing.

Mirae Asset Mutual Fund, established in 2007, had 87 schemes across equity, debt, hybrid and ETF categories as of December 31, 2025.

First Published: Feb 9, 2026 12:35 PM IST

Tags: ETFs, Mirae Asset, mutual funds, NFO