Description

MIRAE ASSET MUTUAL FUND launches MIRAE ASSET NIFTY METAL ETF FOF NFO with SIP facility from February 10-23, 2026 on BSE StAR MF Platform.

Summary

MIRAE ASSET MUTUAL FUND is launching MIRAE ASSET NIFTY METAL ETF FOF (Fund of Funds) as a New Fund Offering (NFO) with SIP facility on BSE StAR MF Platform. The NFO period runs from February 10, 2026 to February 23, 2026, with six plan variants covering Regular and Direct plans with Growth, IDCW Payout, and IDCW Reinvestment options. Tentative allotment date is February 26, 2026.

Key Points

  • Six scheme variants available: Regular Plan (Growth, IDCW Payout, IDCW Reinvestment) and Direct Plan (Growth, IDCW Payout, IDCW Reinvestment)
  • Unique ISINs assigned: INF769K01QJ7, INF769K01QL3, INF769K01QK5, INF769K01QM1, INF769K01QO7, INF769K01QN9
  • NFO extended till midnight on February 23, 2026 for lumpsum purchases only
  • Transactions without client-initiated funds by 9:00 AM on T+1 will be cancelled with CC and N flag reported to RTA/AMC
  • Cheques and OTM payments accepted subject to clear funds receipt by deadline
  • SIP/XSIP registration authentication must be completed by 3:00 PM on NFO closure date

Regulatory Changes

No regulatory changes introduced. This is a standard NFO launch announcement.

Compliance Requirements

  • Members must ensure clients initiate funds by 9:00 AM on T+1 day to avoid transaction cancellation
  • Clear funds must be available in ICCL Account by 6:00 PM on February 25, 2026 for allotment
  • Pending transactions will remain in system until 3:00 PM on last day of funds payout to AMC or T+5, whichever is earlier
  • Switch transactions accepted only if funds received on or before allotment date (February 26, 2026)
  • SIP/XSIP authentication required before 3:00 PM on February 23, 2026

Important Dates

  • February 10, 2026: NFO opening date
  • February 23, 2026: NFO closure date (extended till midnight for lumpsum purchases)
  • February 23, 2026, 3:00 PM: Deadline for SIP/XSIP registration authentication
  • February 25, 2026, 6:00 PM: Deadline for clear funds in ICCL Account
  • February 26, 2026: Tentative allotment date

Impact Assessment

Market Impact: Low - This is a routine mutual fund NFO launch with no broader market implications.

Operational Impact: Medium for BSE StAR MF platform members and distributors who need to process NFO transactions and ensure compliance with fund collection timelines. Members must coordinate client fund transfers and authenticate SIP registrations within specified deadlines.

Investor Impact: Low - Provides new investment option for investors seeking exposure to Nifty Metal index through fund of funds structure. Suitable for investors interested in metal sector allocation through systematic investment plans or lumpsum investments.

Impact Justification

Routine NFO launch announcement for mutual fund scheme with standard operational procedures; impacts only mutual fund distributors and investors interested in metal sector exposure