Publish Date:
Mirae Asset Mutual Fund has launched Mirae Asset Ultra Short Duration Fund.
It is an open-ended ultra-short term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 3 months to 6 months.
Accordingly, the investment objective of the scheme is to generate regular income and provide liquidity by investing primarily in a portfolio comprising of debt & money market instruments. There is no assurance or guarantee that the investment objective of the scheme will be realized.
Mirae Asset Ultra Short Duration Fund is mandated to invest 0% to 100% of its assets in Debt & Money market instruments including government securities. The Macaulay Duration of the portfolio shall be between 3 months and 6 months. It can also invest upto 10% of its assets in Units issued by REITs & InvITs.
The scheme’s performance will be benchmarked against its performance to NIFTY Ultra Short Duration Debt Index.
It will be managed by Mr Mahendra Kumar Jajoo.
The NFO opens for subscription on September 28, 2020 and closes on October 06, 2020. The scheme will reopen for continuous Sale and Repurchase from October 08, 2020.
The fund’s NAV is priced at Rs 1000/- per unit during the NFO period. 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).