Mumbai (Maharashtra) [India], August 5 (ANI/BusinessWire India): Mirae Asset Investment Managers (India) Pvt. Ltd., one of the fastest-growing fund houses in the country today announced the launch of 'Mirae Asset Money Market Fund', an open ended debt scheme investing in money market instruments.
The New Fund Offer (NFO) will open for subscription on August 4, 2021 and will close on August 10, 2021. Scheme re-opens for continuous Sale and Repurchase from 12/08/2021
The fund will be benchmarked with the Nifty Money Market Index and will be managed by Mahendra Jajoo.
Ideal for investors with an investment horizon of upto 1 year.
Aimed at offering Better risk adjusted returns.
Investment will primarily be made in money market instruments with up to 1-year maturity.
The duration of the portfolio will be between 6 Months - 1 year.
Fund will predominantly follow rolldown strategy, wherein it will maintain duration of 6 Months - 1 Year.
The fund will have options of Regular Plan and Direct Plan with Growth Option and Income Distribution and Capital Withdrawal (IDCW) Option (Payout & Re-investment).
Average Returns of Money Market category
Source: ACE MF, as on 19th July 2021.
Notes: Above absolute Returns are of Money Market category - Direct Growth. Past performance may or may not sustain in future.
The returns shown are the average returns of the Mutual Fund category and does not in any way indicate the returns of a particular scheme of mutual fund. The category is considered as per the SEBI Circular on categorization. 18 funds are considered under the category.
"At a time when fixed income markets are dealing with possibility of sustained higher inflation across the globe, Money Market Funds may be well suited with exposure in very liquid and high-quality money market instruments, providing attractive yield pick-up due to steep money market curve while still providing reasonable downside protection due to relatively shorter maturity of the portfolio," said Mahendra Jajoo, CIO - Fixed Income, Mirae Asset Investment Managers (India) Pvt. Ltd.
The minimum initial investment in the scheme will be Rs. 5,000/- and in multiples of Rs. 1/- thereafter. The goal of investment is savings with low to moderate risk.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
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