Mirae Asset Corporate Bond Fund Details
Mirae Asset Mutual Fund plans to launch the Mirae Asset Corporate Bond fund on 24th February 2021. The scheme will close for subscription on 9th March 2021. It is an open-ended debt scheme that invests frequently in AA+ and above rated corporate bonds.
This scheme is suitable for investors who seek income over the medium to long term.
As of SID, the Mirae Asset MF’s NFO re-opens for further sale or re-purchase of units from 18th March 2021.
Basic Details of NFO:
| NFO Name | Mirae Asset Corporate Fund |
| Subscription Period | Feb 24, 2021 – March 09, 2021 |
| NFO Type | Open-end debt scheme |
| Benchmark | NIFTY Corporate Bond Index |
| Fund Manager | Mahendra Kumar Jajoo |
Investment Object:
The investment objective of the scheme is to provide income and capital appreciation by investing predominantly in AA+ and above rated corporate bonds.
Further, the NFO is available in Regular and direct plans along with growth and dividend options.
Minimum Investment:
Investors can invest under the Scheme during the New Fund Offer period and ongoing offer period with a minimum investment of Rs.5,000/- and in multiples of Re. 1/- thereafter.
During the ongoing offer period, for subsequent additional purchases, the investor can invest with the minimum amount of Rs. 1,000/- and in multiples of Re. 1/- thereafter.
Investment Pattern:
| Instruments | Indicative Allocation (% of total assets) | Risk Profile | |
| Minimum | Maximum | ||
| Corporate Debt rated AA+ and above | 80 | 100 | Low to Medium |
| Government Securities, other debt and money market instruments | 0 | 20 | Low to Medium |
| Units issued by REITs & InvITs | 0 | 10 | Medium to High |
Further, the entry load and exit load not applicable to the scheme. Even so, the scheme is available in regular and direct along with growth options.
Moreover, the NIFTY Corporate Bond Index will play as a benchmark to the scheme. Besides, Mahendra Kumar Jajoo will manage the performance of the scheme.
Disclaimer: Investors should consult their financial advisers if in doubt about whether the product is suitable for them. Before investment, refer to the SID and statement of additional information available free of cost at any of the Investor Service Centres or distributors.