Mirae Asset Investment Managers has announced several updates for investors in its schemes, effective from late October and November 2024. These changes impact fund management, exit load structures, and liquidity provisions for exchange-traded funds (ETFs).

Change in fund manager for Mirae Asset Liquid Fund

Starting November 1, 2024, Mirae Asset Liquid Fund, previously known as Mirae Asset Cash Management Fund, will have two fund managers. Abhishek Iyer, the current manager, will be joined by Amit Modani to co-manage the scheme.

Revised exit load structure for Fund of Funds schemes

Effective from October 30, 2024, the exit load structure for several Fund of Fund (FoF) schemes will be revised. Key changes include:

For the Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF FoF, Nifty Midsmallcap400 Momentum Quality 100 ETF FoF, and other select funds: the exit load will be reduced to 0.05% if redeemed within 15 days of allotment, and Nil afterward.

For the Mirae Asset Nifty 100 ESG Sector Leaders FoF: the load remains 0.05% for redemptions within 5 days and 15 days of allotment.

These updates apply to all new investments and systematic transactions registered on or after the effective date.

Addition of market maker for select ETFs

Mirae Asset has added “Vaibhav Stock & Derivatives Broking Private Limited” as a Market Maker to improve liquidity for its ETFs.

This change applies to all ETFs except Mirae Asset Gold ETF, Silver ETF, and Nifty 1D Rate Liquid ETF-IDCW.

The revised Scheme Information Document (SID) and Key Information Memorandum (KIM) will reflect these changes.