Mutual Fund News : Mirae Asset Mutual Fund introduces Mirae Asset Overnight Fund

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Mirae Asset Mutual Fund has launched an open ended debt scheme under the overnight funds category. The scheme is known as Mirae Asset Overnight Fund.

The investment objective of the scheme is to generate returns commensurate with low risk and providing high level of liquidity, through investments made primarily in overnight securities having maturity of 1 business day. However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The scheme does not assure or guarantee any returns.

The scheme’s performance will be benchmarked against CRISIL Overnight Index and its fund manager is Mahendra Kumar Jajoo.

The NFO opens and closes for subscription on October 15, 2019.

No Entry load and Exit load will be applicable for the scheme.

The minimum subscription amount is Rs 5000 and in multiples of Re 1 thereafter.