Mirae MF launches passive ESG funds, NFOs open between Oct 27-Nov 10

 Mirae Mutual Fund has launched two passive funds around the ESG (environmental, social and corporate governance) theme.

Mirae Asset ESG Sector Leaders ETF (exchange traded fund) will be an open-ended scheme tracking Nifty 100 ESG Sector Leaders Total Return Index. The second will be a fund-of-funds that will invest predominantly in this ETF.

The new fund offers (NFOs) for both these funds will remain open from October 27 and November 10. The Nifty 100 ESG index consists of companies which score well on the ESG factors.

“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, CEO, MiraeMF.