Mirae Asset Global X Artificial Intelligence & Technology ETF FoF Direct - Growth is an international mutual fund offering from Mirae Asset Mutual Fund, launched on August 16, 2022. After 1 year and 9 months of operation, its assets under management (AUM) stand at ₹320 Crores as of March 31, 2024, categorizing it as a medium-sized fund. Its expense ratio is noted at 0.24%, lower than the average for international funds.

The fund boasts average annual returns of 36.44% since inception, with a return of 25.72% recorded over the past year. As of June 13, 2024, the current net asset value (NAV) is ₹17.345.

Predominantly investing in the financial sector, it maintains a high global exposure via holdings in the Global X Artificial Intelligence & Technology ETF, comprising 99.86% of its portfolio.

This fund carries a high-risk profile, appealing to investors ready to embrace volatility. There are no lock-in periods; however, an exit load of 1% applies if investments are redeemed within a year.

Investment options include a monthly SIP with a minimum of ₹10,000 or a lump-sum starting at ₹1 lakh. It holds 99.86% in equity, 0.0% in debt, and 0.14% in other assets, with its top sector allocation in financials.

Compared to its counterparts, it has displayed remarkable performance, outpacing other international funds over the previous year, although falling short of the category average.

Investors should remember that past performance does not guarantee future results. All investments carry market risks, necessitating a thorough review of scheme documents.

Disclaimer: This information is for informational purposes and not investment advice. Consult a professional advisor before decision-making.