Mirae Asset launches Interval Fund - quarterly plan
Mirae Asset Mutual Fund on Wednesday launched Mirae Asset Interval Fund - Quarterly plan.
By ET Online |
MUMBAI: Mirae Asset Mutual Fund on Wednesday launched Mirae Asset Interval Fund ��� Quarterly plan.
The debt oriented interval scheme will seek to generate returns through a portfolio of debt and money market instruments with a provision to offer liquidity at periodic intervals. The fund will have a tenure of 90 days and will be open for subscription from August 7 - 12.
Mirae Asset Interval Fund will primarily invest in commercial papers and deposits of large companies/ banks with rating of P1+ & equivalent thus ensuring stability of the assets. It will not invest in real estate papers, unrated papers, pass through certificates, which are considered risky in nature.
The new fund offers two options ��� Regular & Institutional, with the minimum application amount for Regular option being Rs 5000/- and in multiples of Re 1/- thereafter, while for the Institutional plan, the minimum investment amount would be Rs 25 lakhs and in multiples of Re 1/- thereafter.
The debt oriented interval scheme will seek to generate returns through a portfolio of debt and money market instruments with a provision to offer liquidity at periodic intervals. The fund will have a tenure of 90 days and will be open for subscription from August 7 - 12.
Mirae Asset Interval Fund will primarily invest in commercial papers and deposits of large companies/ banks with rating of P1+ & equivalent thus ensuring stability of the assets. It will not invest in real estate papers, unrated papers, pass through certificates, which are considered risky in nature.
The new fund offers two options ��� Regular & Institutional, with the minimum application amount for Regular option being Rs 5000/- and in multiples of Re 1/- thereafter, while for the Institutional plan, the minimum investment amount would be Rs 25 lakhs and in multiples of Re 1/- thereafter.
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