  Applying a magnetic field to a ferromagnetic Ni$_{50}$Mn$_{34}$In$_{16}$
alloy in the martensitic state induces a structural phase transition to the
austenitic state. This is accompanied by a strain which recovers on removing
the magnetic field giving the system a magnetically superelastic character. A
further property of this alloy is that it also shows the inverse magnetocaloric
effect. The magnetic superelasticity and the inverse magnetocaloric effect in
Ni-Mn-In and their association with the first order structural transition is
studied by magnetization, strain, and neutron diffraction studies under
magnetic field.
