Mirae Asset MF introduces Nifty 1D Rate Liquid ETF
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Mirae Asset Mutual Fund (MF) has launched Mirae Asset Nifty 1D Rate Liquid ETF, an open-ended listed liquid scheme in the form of an Exchange Traded Fund tracking Nifty 1D Rate Index, with daily Income Distribution cum capital withdrawal (IDCW) and compulsory Reinvestment of IDCW option. A relatively low interest rate risk and relatively low credit risk. The NFO opens for subscription on July 24, 2023 and closes on July 26, 2023. The Entry load and Exit load is not applicable for the scheme. The minimum subscription amount is Rs 5,000 per application and in multiples of Re 1 thereafter.
The performance of the Scheme would be benchmarked against Nifty 1D Rate Index and its fund manager is Amit Modani.
The investment objective of the scheme is to provide current income, commensurate with low risk while providing a high level of liquidity through a portfolio of TriParty Repo on Government Securities or T-bills / Repo & Reverse Repo and to provide returns that before expenses, closely correspond to the returns of Nifty 1D Rate Index subject to tracking errors.
