Mirae Asset Investment Managers launched ‘Mirae Asset Ultra Short Duration Fund’, a debt fund support reasonably suitable for investors taking a gander at making investments for a brief time of 3 to 6 months a year. Mirae Asset Ultra Short Duration Fund is an open-ended ultra-short debt scheme putting investment resources into instruments with the end goal that the Macaulay duration of the portfolio is between 3 months to 6 months a year. The NFO opens for subscription on September 28 and will close on October 6. The scheme will transcendently invest resources into profoundly highly rated instruments of AAA/A+ rated papers.
The scheme has a superior better return potential compared with customary traditional products in a short and brief period time, says the reserve house release. The fund will likewise showcase decent portfolio liquidity. The fund will be overseen by Mahendra Jajoo, CIO Debt. The scheme plan will be benchmarked against the Nifty Ultra Short Duration Debt Index.
The fund has no exit load. Swarup Mohanty, CEO, Mirae Asset Investment Managers (India) mentioned that the choice to launch Mirae Asset Ultra Short Duration Fund is under the goal to finish the debt product offering over some time and giving greater venture choices to our speculators. The reserve will follow severe stringent debt investment measure and invest dominatingly in profoundly high rated instruments with a mean to offer better risk-adjusted returns of financial specialists who are looking for opportunities for a brief period extending from 3 months to 6 months in a year.
The minimal beginning initial interest in the scheme plan will be ₹5,000 and multiples of Re 1 from that point. Units will be distributed in entire figures and the equalization sum will be discounted. The scheme plan will re-open for constant continuous deal and repurchase from October 8.