Mirae NFO opens today

Mumbai | Updated on April 22, 2019 Published on April 22, 2019

Mirae Asset Mutual Fund has launched its first open-ended equity focussed fund — Mirae Asset Focussed Fund.

The new fund will invest in a maximum of 30 stocks and has the flexibility to invest across large-, mid- and small-cap stocks.

The NFO will be open for subscription between April 23 and May 7. The fund aims to build a portfolio of strong growth companies.

Swarup Mohanty, CEO, Mirae Asset MF, said the fund house is enhancing product basket to provide varied investment solutions and enlarge investor base.

Mirae Asset MF has completed over 10 years in India and emerged to figure among the top-15 MFs based on average assets under management.

As of March-end, its assets under management (AUM) was at ₹27,000 crore and ranked 12th as far as equity assets are concerned.

Mohanty said the growth in SIP flows is one of the most significant achievements as the SIP is a forward call on an organisation by both advisors and investors.

The SIP inflows has grown over ten times to ₹300 crore in March 2019 from ₹29 crore in March 2016 . It is witnessing a significant surge in the number of investor folios with over 13.9 lakh investor folios (including 6.9 lakh SIP investors) as on March-end.

Mirae Asset Group increased its footprint into the alternate product space and had set up an investment banking and broking business through Mirae Asset Capital Markets (India) last year.

It had entered into venture capital, real estate, capital markets and alternative investment funds in 2018. Mirae Asset India also provides advisory services to $545 million in Equity and $140 million in debt assets as on March-end.

Published on April 22, 2019
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