Mirae Asset Banking and PSU Debt Fund NFO Period From 8th July to 20th July 2020:
Mirae Asset Mutual Fund launched a new fund offer. The NFO is a Mirae Asset Banking and PSU Debt Fund. It comes as an open-ended debt fund. The NFO subscription period started on 8th July and it will end on 20th July 2020.
|Fund Name||Mirae Asset Banking and PSU Debt Fund|
|Fund House||Mirae Asset Mutual Fund|
|NFO Period||8th July to 20th July 2020|
|Benchmark||NIFTY Banking and PSU Debt Index|
The Mirae Asset Mutual Fund NFO offered the initial price of Rs. 10 per unit in the subscription period. The benchmark of this NFO is the NIFTY Banking and PSU Debt Index. Moreover, the minimum target amount of the mutual fund is Rs. 20 cr.
Entry Load and Exit Load:
There were nil entry loads for this NFO. Similarly, there were nil exit applicable loads for this fund.
Mirae Asset Banking and PSU Debt Fund Minimum investment amount:
As per the draft prospectus, the minimum amount of investment is Rs. 5,000 and in multiples of ₹ 1 thereafter for growth option. Also, for the additional application with the minimum amount of Rs. 1,000 in multiples of ₹ 1 thereafter.
Objects of the NFO:
The investment objective of the scheme is to generate long term capital appreciation and by investing predominantly in debt and money market instruments issued by banks, PSUs and PFIs, and municipal corporations.
|Instruments||Allocation (% of total assets)||Risk Profile|
|Debt and Money Market Instruments, issued by PSUs, PFIs, and Municipal Bonds||80% to 100%||Low to Medium|
|Debt and Money Market Instruments issued by Banks, PFIs, PSUs, and Municipal Bonds||0% to 20%||Low to Medium|
|Units issued by REITs & InvITs||0% to 10%||Low to Medium|
Disclaimer: This article offers just information regarding the scheme. It does not provide any advice or investment tips to investors. MF investments are fixed to market risk. Please consult your financial advisor before investing.