The Hindu Business Line : Mirae Asset India launches Opportunities Fund

Mumbai, Feb. 7 Mirae Asset Global Investment Management (India) has launched its first equity fund, which is an open-ended diversified equity fund, the Mirae Asset India Opportunities Fund.

The investment objective of the fund would be to generate long-term capital appreciation by capitalising on potential investment opportunities through predominantly investing in equities and equity-related securities. The new fund offer will open from February 11 to March 10.

Securities

The fund would invest between 65 per cent and 100 per cent in equity and equity related securities and up to 35 per cent in money market instruments or debt securities, which includes up to 25 per cent of corpus in securitised debt.

“The fund would seek to deliver returns by focusing on select high performance sectors or industries. It also offers complete flexibility to diversify across sectors, market caps and investment styles and thus seeks to minimise the risks during market volatility,” said Mr Gopal Agrawal, Head of Equity, Mirae Asset Global Investment Management (India) Ltd.

The units for the fund are priced at a face value of Rs 10 plus the applicable load. The minimum amount for investments is Rs 5,000 and thereafter in multiples of Re 1. The entry load is 2.25 per cent for each purchase of less than Rs 5 crore, whereas there is no entry load for amounts greater than or equal to Rs 5 crore.

SIP facility

The fund is offering SIP facility during the new fund offer.

The fund would be benchmarked against BSE 200. The fund house said that going forward they are also planning to launch a quant-based fund.

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