Mirae Asset Mutual Fund launches Mirae Asset Balanced Advantage Fund

Mirae Asset Mutual Fund has launched the Mirae Asset Balanced Advantage Fund, an open-ended dynamic asset allocation fund. The NFO of the fund opens for subscription on July 21 and closes on August 3. The fund will be jointly managed by Harshad Borawake and Mahendra Jajoo. The benchmark Index for the fund will be the Nifty 50 Hybrid Composite Debt 50:50 Index. The minimum initial investment in the fund will be Rs 5,000 and multiples of Re 1 thereafter.

“Investors fear falling markets. But in a country like India, not participating in the equities markets could be a matter of regret in the long run. Mirae Asset Balanced Advantage Fund seeks to preserve investor participation throughout the market cycles and aims to generate reasonable performance over the long run.” said Swarup Mohanty, CEO, Mirae Asset Investment Managers (India).

The Mirae Asset Balanced Advantage Fund will be available to investors in both, Regular Plan and Direct Plan. Post NFO, the Minimum Additional Purchase Amount will be Rs 1000 and in multiples of Re 1 thereafter. According to the press release, the fund aims to capture the upside during a bull market and limit the downside during bear phases. The fund managers will follow an internal model based on adjusted PE (Price to Earnings) and PBV (Price to Book Value) ratio in equities, and a Buy and Hold strategy in debt allocation.