Mutual Fund News : Mirae Asset Mutual Fund Introduces Mirae Asset Money Market Fund

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Mirae Asset Mutual Fund has launched Mirae Asset Money Market Fund.

It is an open-ended debt scheme mandated to invest predominantly in money market instruments.

Accordingly, investment objective of the scheme is to generate reasonable returns with low risk and provide liquidity by investing in money market instruments. However, there is no assurance or guarantee that the investment objective of the scheme will be realized.

Mirae Asset Money Market Fund is mandated to invest 0% to 100% of its assets in Money market instruments (as defined by SEBI / RBI from time to time) having maturity up to 1 Year.

Money Market instruments includes commercial papers, commercial bills, treasury bills, Government securities having an unexpired maturity up to one year, call or notice money, certificate of deposit, usance bills, Non-Convertible Debentures (original maturity up to one year) and any other like instruments as specified by the Reserve Bank of India from time to time.

As per the Scheme Information Document (SID), Mirae Asset Money Market Fund proposes to invest in money market instruments having maturity up to 1 year. The aim of the investment strategy is to generate stable returns both in the short term and the long term with a low risk.

Though every endeavor will be made to achieve the objective of the Scheme, the AMC / Sponsors / Trustee do not guarantee that the investment objective of the Scheme will be achieved. No guaranteed returns are being offered under the Scheme.

Mirae Asset Money Market Fund’s performance will be benchmarked against Nifty Money Market Index.

It will be managed by Mr Mahendra Kumar Jajoo.

The NFO opens for subscription on August 04, 2021 and closes on August 10, 2021. The scheme will reopen for continuous Sale and Repurchase from August 12, 2021.

The fund’s NAV is priced at Rs 1,000/- per unit during the NFO period. The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter.

The fund offers Regular Plan and Direct Plan having Growth Option and Income Distribution Cum Capital Withdrawal option (Payout and Reinvestment facility).