Mirae Mutual Fund (MF) has announced the launch of its Mirae Asset Emerging Bluechip Fund which is an open-ended equity fund.
Primarily a mid-cap fund, it will invest up to 100 per cent in
Indian equities of companies that are not part of the top 100 stocks by
market capitalisation, but have a market capitalisation of at least Rs
100 crore at the time of investment. It will invest up to 35 per cent
in other Indian equities. The fund may also invest up to 35 per cent in
debt.
Arindam Ghosh, CEO, Mirae Asset Global Investments (India), said,:
"With the launch of this fund, we are expanding our portfolio by
offering a mid-cap equity fund. This fund will give investors the
opportunity to participate in the growth story of today's emerging
companies which have the potential to become market leaders in the
future. We believe that today's mid-cap stocks have the potential to be
tomorrow's large-caps. The right amount of mid-caps in the portfolio
can help investors optimise their risk-adjusted returns.”
The fund has been benchmarked to the CNX Midcap Index. The fund offers
both growth and dividend options.
The minimum application amount will
be Rs 5,000. One per cent exit load will be applicable if an investor
exits the fund within one year.
The new fund offer (NFO) will open on
May 24, 2010 and close on June 22, 2010.