A New Fund Offer By Mirae Asset Mutual Fund
Mirae Asset Mutual Fund came up with another new fund offer named as Mirae Asset Overnight Fund. The NFO opened for subscription on 15th October 2019. The scheme investing in overnight securities. It is an open-ended debt scheme. It will re-open from 16th October for continuous subscription and re-purchase.
Mirae asset financial group is providing financial services along with asset management, wealth management, investment banking, and life insurance. The vision of this global financial group is to help the clients to achieve their long- term goals. Mirae NFO offers units of Rs 1000 per unit and a continuous offer of units at net asset value (NAV) base.
The scheme is available in regular and direct plans along with dividend and growth options. Investors can invest a minimum of Rs 5000 and in multiples of Re 1 thereafter. For an additional purchase, invest a minimum of Rs 1000 and in multiples of Re 1 thereafter. As of the scheme information documents, the minimum redemption amount shall be required at the time for redemption.
Objects of the issue
The primary objective of the scheme is to provide return equivalent to low-risk and providing a high level of liquidity, through investments made primarily in overnight securities having a maturity of one business day.
Mirae Asset Overnight Fund Asset Allocation Pattern
|Instruments|| Indicative allocation (% of total assets)
Minimum – Maximum
| Risk Profile
|Overnight Securities or Debt Securities and Money Market instruments||0%||100%||Low|
The scheme is suitable for investors who are seeking regular incomes in the short term that in line with the overnight call rate. It invests in overnight securities.
The performance of the scheme will be the benchmark to CRISIL Overnight Index. It will manage by Mr. Mahendra Kumar Jajoo.
Disclaimer: This post is just about the scheme information. It does not offer any advice or investment tips to investors. MF investments are set to market risk. Please consult your financial adviser before invest.