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Monday, April 13, 2009

Mirae Asset MF files offer document with Sebi

Plans to launch Short Term Bond Fund

Name of Fund: Mirae Asset Short Term Bond Fund

Scheme: An open-ended debt scheme.

NFO price: Rs 10 per unit

Investment Objective: The investment objective of the scheme is to seek to generate returns through an actively managed diversified portfolio of debt and money market instruments.

Investment Options: The scheme offers two plans viz. regular and institutional with growth and dividend option. The dividend option will offer dividend payout, dividend reinvestment and dividend transfer option.

Asset Allocation: The fund will invest upto 20%-100% in money market instruments and debt instruments with residual maturity and repricing tenor not exceeding 182 days. And it invest upto 80% in debt instrument with residual maturity and repricing tenor exceeding 182 days, that includes securitised debt upto 50% of net assets.

The scheme does not propose to invest in equity and equity related securities.

The Scheme may propose to invest in securitized debt upto the limit of 50% of net assets and does not propose to underwrite issuances of securities of other issuers.

Entry Load: Nil

Exit Load: The scheme will charge 0.25% for regular plan, if redeemed within 90 days from the date of allotment and 0.15% for institutional plan, if redeemed within 15 days from the date of allotment.

Minimum Investment Amount: The minimum application amount under the regular plan is Rs 5000 and in multiples of Re 1 thereafter and the minimum investment amount under institutional plan is Rs 10 lakhs and in multiples of Re 1 thereafter.

Minimum Target amount: The Fund seeks to collect a minimum subscription amount of Rs10 lakh.

Benchmark Index: Crisil Short Term Bond Index

Fund Managers: Murthy Nagarajan is the fund manager for the scheme.

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