Mirae Asset Investment Managers India has launched what it claims is the country’s first ETFs to be focused on ESG factors.
The Mirae Asset ESG Sector Leaders ETF is an open-ended scheme that will track the Nifty 100 ESG Sector Leaders Total Return Index while the Mirae Asset ESG Sector Leaders Fund of Fund is an open-ended fund of fund scheme predominantly investing in Mirae Asset ESG Sector Leaders ETF.
Both funds will be managed by investment analyst Bharti Sawant and will be benchmarked against the Nifty ESG Sector Leaders index.
“Companies that integrate the focus on planet, people and profit into its core corporate structure tend to have a positive impact on all stake holders and have competitive advantage over others, which in turn could translate to sustainable profit in the long run,” said Swarup Mohanty, chief executive of Mirae Asset Investment Managers India.
Sustainable funds have proved popular in India this year. According to a report issued by Morningstar in May, sustainable and ESG funds attracted more than US$500 million between January and March.
© 2020 funds europe
