Publish Date:
Mirae Asset Mutual Fund has launched ‘Mirae Asset Arbitrage Fund’, an open ended equity scheme investing in arbitrage opportunities.
The investment objective of the scheme is to generate capital appreciation and income by predominantly investing in arbitrage opportunities in the cash and derivative segments of the equity markets and the arbitrage opportunities available within the derivative segment and by investing the balance in debt and money market instruments. There is no assurance or guarantee that the investment objective of the scheme will be realized.
The NFO opens for subscription on June 03, 2020 and closes on June 12, 2020.
While there is no Entry load applicable for the scheme, an Exit load of 0.25% will be applicable if units are Redeemed or Switched out within 30 days from the date of allotment.
For units Redeemed or Switched out after 30 Days the exit load will be nil.
The scheme’s performance will be benchmarked against NIFTY 50 Arbitrage Index.
The Equity investments of the fund will be managed by Mr Jignesh Rao and Mr Jigar Shethia, whereas Mr Mahendra Kumar Jajoo will look after the Debt investments.
Mirae Asset Arbitrage Fund will offer Regular and Direct Plan with growth and dividend option (payout & re-investment).
The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter.