Mirae Asset Hang Seng TECH ETF Overview
Mirae Asset Hang Seng TECH ETF, an exchange-traded fund (ETF) incorporated in India, aims to generate returns that align with the performance of the Hang Seng TECH Total Return Index. The fund’s strategy involves tracking the index, while accounting for potential tracking errors and foreign exchange movements. This ETF is listed on the Bombay Stock Exchange Ltd and operates with the Indian Rupee (INR) as its currency.
Market Position
With a market capitalization of approximately 4.8 billion INR, Mirae Asset Hang Seng TECH ETF holds a significant position in the Indian ETF market. The fund’s focus on technology stocks within the Hang Seng TECH Index allows investors to gain exposure to the dynamic and rapidly evolving tech sector in Hong Kong.
Investment Objective
The primary objective of Mirae Asset Hang Seng TECH ETF is to mirror the performance of the Hang Seng TECH Total Return Index. This involves replicating the index’s composition and performance, while managing the inherent risks associated with tracking errors and currency fluctuations. The fund seeks to provide investors with a cost-effective way to invest in a diversified portfolio of technology companies.
Conclusion
Mirae Asset Hang Seng TECH ETF offers Indian investors an opportunity to participate in the growth of the technology sector in Hong Kong. By tracking the Hang Seng TECH Total Return Index, the fund aims to deliver returns that are in line with the index’s performance, subject to tracking and forex considerations. With its listing on the Bombay Stock Exchange Ltd and a market cap of 4.8 billion INR, the ETF is positioned as a key player in the Indian ETF landscape.