Publish Date:
Mirae Asset Mutual Fund introduces – Mirae Asset Multicap Fund
It is an open-ended equity scheme investing across large cap, mid cap and small cap stocks
Accordingly, the investment objective of the scheme is to provide long-term capital appreciation from a portfolio investing predominantly in Indian equity and equity related securities of large cap, mid cap and small cap companies. However, there is no assurance that the investment objective of the Scheme will be realized
Under normal circumstances, Mirae Asset Multicap Fund will hold an allocation of 75% to 100% of its assets in Equity and Equity related instruments including equity linked derivatives in the following manner, 25% to 50% in Large Cap Companie, 25% to 50% in Mid Cap Companies, 25% to 50% in Small Cap Companies, 0% to 25% in Debt securities (including securitized debt & debt derivatives) and money market instrument and 0% to 10% in Units issued by REITs and InvITs.
As per the Scheme Information Document, Mirae Asset Multicap Fund will predominantly invest minimum 25% in Equity and Equity related instruments of each market cap category, namely, large cap (1-100th company in terms of full market capitalization), mid cap companies (101st -250th company in terms of full market capitalization) and small cap (251st company onwards in terms of full market capitalization). From time to time, the fund manager may also participate in debt and debt related securities up to 25% of its total assets for optimal portfolio construction.
The Investment Manager will select equity securities on a bottom–up, stock–by–stock basis. The focus would be to build a portfolio of strong growth companies, reflecting our most attractive investment ideas at all points of time. The Fund Managers will monitor the trading volumes in a particular stock before investment to avoid liquidity risk.
Mirae Asset Multicap Fund’s performance will be benchmarked against NIFTY 500 Multicap 50:25:25 TRI
The scheme will be managed by Mr Ankit Jain
The NFO opens for subscription on July 28, 2023 and closes on August 11, 2023. The schemes will reopen for continuous sale and repurchase on August 22, 2023
The fund's face value is Rs 10/- per unit. The minimum subscription amount is Rs 5,000/- and in multiples of Re. 1/- thereof.
The scheme offers Regular Plan and Direct Plan each plan offers Growth and Income Distribution cum capital withdrawal option (IDCW) option.