Mirae Asset Mutual Fund has launched a new fund named as Mirae Asset Focused Fund, An open ended equity scheme investing in a maximum of 30 stocks intending to focus in large cap, mid cap and small cap category (i.e., Multi-cap). The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 23 April to 07 May 2019.
The investment objective of the scheme is To generate long term capital appreciation/income by investing in equity & equity related instruments of up to 30 companies.
The Scheme will have Regular Plan and Direct Plan Each of the above Regular and Direct Plan under the scheme will have the following Options/Sub-options: (1) Growth Option and (2) Dividend Option. The Dividend Option shall have only Dividend Reinvestment and Payout option.
The scheme would allocate 65%-100% of assets in Indian equities and equity related instruments with high risk profile and invest upto 35% of assets in money market instruments / debt securities, instruments and / or units of debt / liquid schemes of domestic mutual funds with low to medium risk profile.
The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter.
The minimum additional application amount is Rs 1000 and in multiples of Re. 1 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period.
Entry load: Nil
Exit Load: If redeemed within 1 year (365 days) from the date of allotment: 1%
If redeemed after 1 year (365 days) from the date of allotment: NIL
Benchmark Index for the scheme is Nifty 200 Index (TRI).
The fund manager for the scheme is Gaurav Misra.
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