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Tuesday, February 11, 2014

Mirae Asset Fixed Maturity Plan – Series I (368 Days) Floats On

NFO period is from 13 February to 20 February 2014 

Mirae Asset Mutual Fund has launched a new fund named as Mirae Asset Fixed Maturity Plan – Series I (368 Days), a close ended income scheme. The duration of the scheme is 368 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue which is open for subscription from 13 February will close on 20 February 2014. 

The investment objective of the plan under the scheme is to generate income through investments in debt and money market instruments maturing on or before the date of maturity date of the plan. 

The scheme offers growth option, dividend option with payout facility, dividend sub-option with payout facility and quarterly dividend sub-option with payout facility. 

The scheme will allocate 70%-100% of assets in money market instruments with medium risk profile and upto 30% of assets would be allocated to debt instruments with low risk profile. 

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

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. 

Entry and exit load charge will be nil. 

Benchmark Index for the scheme is CRISIL Composite Bond Fund Index. 

The fund manager of the scheme will be Yadnesh Chavan (Debt Portion).
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