Mirae Asset Mutual Fund has launched the Mirae Asset BSE Information Technology Index Fund, a new open ended index fund from Mirae Asset Investment Managers (India) Private Limited. The NFO opens on 08-09-2026 and closes on 22-09-2026.
The fund aims to track the BSE Information Technology Total Return Index, or TRI, which adds back dividends so it better reflects an investor’s actual return. It invests almost entirely in the shares that make up this index, in roughly the same proportion.
Investors who want a rules based way to add exposure to India’s listed information technology sector, without picking individual technology stocks, may find this launch worth understanding before the NFO closes.
Mirae Asset BSE Information Technology Index Fund NFO Details
Fund name | |
Fund type | Open ended |
Category | Equity, Sectoral or Thematic (Information Technology) Index Fund |
Nature of scheme | Passively managed, index replicating scheme |
Benchmark | BSE Information Technology Total Return Index (TRI) |
Fund managers | Ritesh Patel, Akshay Udeshi |
NFO opens | 08-09-2026 |
NFO closes | 22-09-2026 |
Allotment or reopening date | Not available |
Minimum investment | Rs 5,000 |
Additional investment | Not available |
SIP amount | Not available |
NAV | Rs 10 per unit during the NFO |
Stamp duty | 0.005% of transaction value, as per the applicable government notification |
Entry load | Nil |
Exit load | Nil |
AMC Details
AMC name | Mirae Asset Investment Managers (India) Private Limited |
Assets under management | ₹2,27,268 crore |
Website | |
customercare@miraeasset.com | |
Registered office | Unit No. 606, 6th Floor, Windsor Building, Off CST Road, Kalina, Santacruz (East), Mumbai 400098 |
Contact number | 1800 2090 777 |
Source: AMFI India — New fund offer: Mirae Asset BSE Information Technology Index Fund
What Has Mirae Asset Launched?
Mirae Asset Mutual Fund has rolled out an open ended equity scheme built around one theme: India’s listed information technology sector.
The fund tracks the BSE Information Technology Total Return Index, a benchmark of BSE listed companies classified under the information technology sector using the common India Industry Classification Structure.
This is a passive fund. The fund manager does not choose which technology company might do better. Instead, the scheme buys the index’s constituents in close to the same proportion as the index itself, a method known as full replication, keeping at least 95% of assets in these shares.
A small allocation, up to 5%, sits in money market instruments for day to day subscriptions and redemptions.
The gap between the fund’s return and the index’s return is called tracking error, generally not expected to exceed 2% a year under normal conditions.
As on 30 June 2026, the underlying index held 78 constituents, with the top four names, Infosys, Tata Consultancy Services, HCL Technologies and Tech Mahindra, together making up close to two thirds of the index by weight.
Returns are therefore closely tied to a handful of large IT companies, more than a typical diversified equity index.
How Does the Strategy Work?
The fund follows a repeatable, rules based process rather than a manager’s personal judgement. The index is reconstituted each September, with quarterly reviews in December, March and June, and the fund adjusts holdings to match.
Step | What happens? |
1 | Investor applies during the NFO; units are allotted at Rs 10 each |
2 | Fund manager invests at least 95% of assets across the index’s constituents |
3 | Shares are held in close to the same weight as the index |
4 | Index provider reviews constituents quarterly, with a full reconstitution each September |
5 | Fund rebalances to match any change in constituents or weights |
6 | A small cash buffer, up to 5%, sits in money market instruments for redemptions |
7 | NAV is published daily, reflecting the underlying portfolio’s value |
Let’s Understand Through an Example
Say an investor puts Rs 10,000 into the fund during the NFO, at the Rs 10 offer price. That buys 1,000 units. This money, pooled with other investors’ money, buys shares of the index’s 78 companies in roughly the same weight each holds in the index.
If Infosys makes up around 29.8% of the index, roughly 29.8% of the pooled money goes toward Infosys shares, and so on down the list. As the index value moves, the fund’s NAV moves with it, minus fees and any tracking error. This illustration only shows the process, not a likely return.
Portfolio Allocation
Instrument type | Minimum | Maximum |
Equity securities (BSE Information Technology TRI constituents) | 95% | 100% |
Money market instruments, debt, or units of debt or liquid schemes | 0% | 5% |
This fund invests almost entirely in equity shares that make up the index, with a small buffer for money market instruments. There is no separate debt, cash or overseas allocation beyond this buffer.
Investment Strategy
As a passive scheme, the fund manager does not pick stocks based on views about which technology company will do better. It buys the full basket of index constituents, weighted the same way the index weights them.
Risk control here is structural rather than active. The scheme mitigates stock specific concentration by holding a large number of companies, keeping a portion in money market instruments so redemptions do not force a disruptive sale of index shares.
It may also use index derivatives for a short period, capped at seven days, to help reduce tracking error when a change to the index cannot immediately be matched with a physical share purchase.
Potential Benefits
Potential benefit | Why does it matter? |
Rules based, low judgement risk | Returns track a published index rather than one manager’s stock picks |
Focused IT sector exposure | Lets an investor add or trim exposure to India’s listed technology companies through a single scheme |
Transparent holdings | The index’s constituents and weights are published and reviewed on a set schedule |
No entry or exit load | A nil load structure at launch means no charge to enter or exit the scheme |
Key Risks
Risk | What does it mean? |
Market risk | Scheme value moves with the ups and downs of the broader stock market |
Concentration risk | A large share of the index sits in a handful of large IT companies, so their performance drives most of the fund’s return |
Tracking error | Returns may not perfectly match the index due to expenses, cash held for redemptions, and timing gaps |
Liquidity risk | Some smaller constituent stocks may trade thinly, which can affect the fund’s ability to buy or sell them smoothly |
As a single sector equity scheme, this fund is generally understood to carry high risk in plain terms, more concentrated than a broad market index fund.
Who May Consider This Fund?
Investor type | Why it may fit |
Investors who already hold a diversified core portfolio | Can use this as a smaller, sector specific addition rather than a first holding |
Investors comfortable with single sector swings | The scheme’s return depends heavily on how the IT sector performs as a group |
Investors with a horizon of five years or more | Sector focused equity investments typically need a longer runway to smooth out volatility |
Who May Not Find It Suitable?
Investor type | Why it may not fit |
First time equity investors | A single sector fund carries more concentrated swings than a broad market fund |
Investors needing money within one to two years | Equity investments, especially sector focused ones, can see sharp short term falls |
Investors seeking diversification across sectors | This scheme’s return depends on one sector’s fortunes, not the wider economy |
Comparison With Traditional Investment Options
Feature | Fixed Deposit | Debt Fund | Hybrid Fund | Equity Fund | This New Fund |
Risk | Low | Low to moderate | Moderate | High | High, single sector |
Return potential | Fixed | Moderate | Moderate to high | High | High, tied to IT |
Volatility | Very low | Low | Moderate | High | High |
Liquidity | Limited | High | High | High | High, no exit load |
Horizon | Short to medium | Short to medium | Medium | Long term | 5 years or more |
Suits | Capital protection | Steady income | Balanced growth | Diversified growth | Focused IT exposure |
This comparison is for context, not a ranking. Where any option fits depends on your own goals, horizon and risk comfort.
Mirae Asset BSE Information Technology Index Fund Review by Zenith Finserve
This fund suits an investor who already holds a broad, diversified core portfolio and wants a defined, smaller slice tied to India’s listed IT sector, rather than someone building a first equity holding.
Its swings can be sharper than a broad market index fund, so a horizon of five years or more fits better than a short term goal.
The index’s heavy weighting toward a handful of large IT names ties the fund’s fortunes to a small group of companies.
Weigh this alongside any existing exposure to the technology sector, including direct stock holdings, before adding this fund to a portfolio.
Evaluate suitability against your own goals and time horizon rather than treating this as a core holding. Zenith’s mutual fund advisors can help you weigh where, if at all, this fits your plan.
How Zenith Finserve Can Help
At Zenith Finserve, we follow a process driven investment framework. We assess your goals, cash flows, risk profile, time horizon, existing investments, loans and tax situation before suggesting investments.
We align our investment suggestions with your financial objectives and review them periodically to keep them suitable as your circumstances change.
To discuss whether this or any other fund fits your plan, you can get in touch with Zenith Finserve.
Similar NFOs on Zenith
Axis Nifty Energy Index Fund NFO: another single sector Nifty index fund, built around energy rather than technology.
Invesco India Nifty India Defence Index Fund NFO: a single sector index fund tracking listed defence and aerospace companies.
Navi Nifty REITs & Realty Index Fund NFO: a single sector index fund built around listed REITs and real estate.
Zenith has not yet published a dedicated article on another Mirae Asset or IT sector fund, so these are the closest structural comparisons rather than direct peers.
Frequently Asked Questions
What is the Mirae Asset BSE Information Technology Index Fund?
An open ended index fund tracking the BSE Information Technology TRI, subject to tracking error.
When does the NFO open and close?
It opens 08-09-2026 and closes 22-09-2026.
What is the minimum NFO investment?
Rs 5,000, as a lump sum.
Is this NFO good to invest in?
Depends on your goals, horizon and comfort with sector risk. Not a recommendation.
What does the fund invest in?
Shares in the BSE Information Technology Index, in roughly the index’s own weights.
Is this fund actively managed?
No, it is passive. The fund manager does not pick individual stocks.
What is the exit load?
Nil, per the scheme information document.
How many companies does the index hold?
78, as on 30 June 2026.
Who manages this fund?
Ritesh Patel and Akshay Udeshi of Mirae Asset Investment Managers.
Is it diversified?
No. It is concentrated in one sector, so treat it as a satellite holding, not a core one.
Can I start a SIP?
The SID does not confirm SIP details for this launch. Check the AMC’s site once live.
What happens if I redeem early?
With a nil exit load, you redeem at the prevailing NAV, though market risk still applies.
