Comments
Mirae Asset Mutual Fund has filed a draft red herring prospectus with the Securities and Exchange Board of India to launch an open ended equity scheme - Mirae Asset Healthcare Fund.
According to the draft offer, Mirae Asset Healthcare Fund will invest at least 80 per cent of its corpus in equity and equity-related securities of companies that are likely to benefit, either directly or indirectly, from healthcare/allied sectors and other related sub-sectors and businesses, such as chemicals (bulk, specialty, agrochemicals), medical equipment, insurance, wellness and allied services and health IT services.
Up to 20 per cent will be deployed in equity shares of companies other than those in the healthcare sector. It also has the provision to deploy up to 20 per cent in debt and money market instruments. “The universe of stocks will comprise majorly of companies having robust business models, enjoying sustainable competitive advantages as compared to their competitors and have high return ratios,” the Mirae offer document said.
The fund will track S&P BSE Healthcare Index as its benchmark. The minimum application amount is ₹5,000.
The scheme can invest up to 50 per cent of net assets in equity derivative instruments for the purpose of trading, hedging and portfolio rebalancing.
While a transaction charge of ₹150 will be levied for first-time investors for subscription of ₹10,000 and above, others will be charged ₹100.
The fund seeks to raise a minimum subscription amount of ₹10 crore.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.