You would like to read
- Stilt launches remittance product for immigrants
- TerraPay forays into Bank Account payments in the USA and Canada to facilitate same day international money transfers and cross border remittances
- Stilt launches instant USD to INR remittance with best exchange rates in industry
- Mirae Asset launches India's First ETF Tracking Nifty Financial Services Index Mirae Asset Nifty Financial Services ETF
- Losing your hard-earned money in the stock market? 'Incomet' gives an insight into converting your losses to profits
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 '(https://www.miraeassetmf.co.in/mutual-fund-scheme/fixed-income/mirae-asset-money-market-fund) 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.
Key features:
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.
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)
DISCLAIMER
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
