Mirae Asset MF introduces Nifty 1D Rate Liquid ETF
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Mirae Asset Mutual Fund has launched Mirae Asset Nifty 1D Rate Liquid ETF - Growth, an open-ended listed liquid scheme in the form of an Exchange Traded Fund tracking Nifty 1D Rate Index, with growth option. A relatively low interest rate risk and relatively low credit risk. The NFO opens for subscription on November 04, 2024 and closes on November 06, 2024. No Entry Load is charged and the Exit Load is nil 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 will be benchmarked at Nifty 1D Rate Index and its fund manager is Amit Modani.
The investment objective is to provide current income, commensurate with low risk while providing a high level of liquidity through a portfolio of Tri-Party Repo on Government Securities or T-bills / Repo & Reverse Repo. The Scheme endeavors to provide returns that before expenses, closely correspond to the returns of Nifty 1D Rate Index subject to tracking errors.
