Mutual Fund News : Mirae Asset Mutual Fund Introduces Mirae Equity Allocator Fund of Fund

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Mirae Asset Mutual Fund (MF) has launched an open ended fund of fund scheme - Mirae Equity Allocator Fund of Fund, that will be investing in units of domestic equity ETFs.

The investment objective of the scheme is to provide long-term capital appreciation from a portfolio investing predominantl in units of domestic equity ETFs. There is no assurance that the investment objective of the Scheme will be realized.

The scheme will predominantly invest in the units of domestic equity ETFs, the portfolio of which shall mostly be based on stocks from large cap and/or midcap equity segment. The selection of stocks for the portfolio of underlying ETFs may be based on market cap range, sector, theme, strategy etc. or a combination of one or more of these styles

The Scheme may also invest a part of corpus (upto 5%) in debt, money market instruments and/or units of debt / liquid schemes of domestic mutual funds.

The scheme’s performance will be benchmarked against NIFTY 200 Index (TRI).

It will be managed by Ms Bharti Sawant.

The NFO opens for subscription on September 08, 2020 and closes on September 15, 2020. The scheme will reopen for continuous sale & re-purchase on and from September 22, 2020.

The minimum subscription amount is Rs 5,000 and in multiples of Rs 1 thereafter.

The fund offers Regular Plan and Direct Plan having Growth Option and Dividend Option (Dividend Re-investment and Dividend Pay-out facilities).