The Hindu Business Line : Mirae collects Rs 1,435 crore under fixed income funds

Mumbai, March 5 Mirae Asset Global Investment Management (India) Pvt Ltd said on Wednesday that it has collected over Rs 1,435 crore through its maiden fixed income funds.

It garnered Rs 792 crore through the Mirae Asset Liquid Fund and Rs 643 crore through Mirae Asset Liquid Plus Fund. The South Korean firm Mirae Asset Financial Group launched its India operations last month.

Higher Liquidity

“A combination of strong brand equity, aggressive positioning, and pro-active client relationship management has enabled us to garner assets across markets,” said Mr Arindam Ghosh, Chief Executive Officer, Mirae Asset Global Investment Management (India) Pvt Ltd

Objectives

“Both the funds provide investors with a short-term investment avenue along with high liquidity,” said Mr Murthy Nagarajan, Head of Fixed Income, Mirae Asset Global Investment Management (India) Pvt Ltd.

The investment objective of both the funds is to generate returns with low volatility and higher liquidity, through a portfolio of debt and money market instruments.

Both the Schemes have 3 plans — Regular, Institutional, and Super Institutional.

The funds are benchmarked against the CRISIL Liquid Fund Index.

Mirae Asset’s first equity fund, Mirae Asset India Opportunities Fund, was launched last month and will close on March 11.

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