Mirae AMC launches Mirae Asset Equity Savings Fund

Mirae Asset Management has launched Mirae Asset Equity Savings Fund. The NFO period of the fund will be from 26th November to 10th December. The fund will reopen for fresh purchases on and from 18th December.

Mirae Asset Equity Savings Fund is an open ended scheme investing in equity, debt and arbitrage. The investment strategy of this scheme endeavors to have an asset allocation comprising of 40 per cent in equity, 30 per cent in arbitrage instruments and 30 per cent in debt and money market instruments. (with a +/- 5 per cent variation). The fund will predominantly invest in largecaps with flexibility to invest in mid- and small-caps.

The fund will invest upto 30 per cent in arbitrage, so the overall equity allocation is greater than 65 per cent, which provides tax efficiency to the fund. The fund will also invest in highly rated debt and money market instruments, with duration between one and three years.


'We believe this fund is apt for conservative to moderate investors who are seeking better return potential than fixed income but with marginally higher risk.' Sudhir Kedia will be managing equity portion for this fund and Mahendra Jajoo will handle the debt portion.

“We do believe that Equity Savings category is a good category for the retail debt Investor to start looking at, wherein they get equity participation in a controlled manner. In the current market environment wherein there is heightened volatility, a blended portfolio of equity, debt and arbitrage, can provide better risk adjusted returns to investors," says Swarup Mohanty, CEO, Mirae Asset Global Investments.

Mirae Asset Management Company currently manages six equity funds and four debt funds and has an AUM in excess of Rs 20,000 crore, as on 31st October 2018.