Mirae Asset Mutual Fund files offer document for Contra Fund
Mirae Asset Mutual Fund has filed offer document with SEBI to launch an open-ended equity scheme named ‘Mirae Asset Contra Fund‘. The New Fund Offer price will be Rs 10 during the NFO. Entry load will be nil. If redeemed within 30 days from the day of allotment exit load will be 1%; If redeemed after 30 days from the date of allotment exit load will be Nil. The Scheme offers growth and IDCW options for investment and seeks to collect a Minimum Target Amount of Rs 10 crore.
The performance will be benchmarked against NIFTY 500 Index (TRI). The minimum application amount will be Rs 5000 and in multiples of Re.1 thereafter.
The investment objective of the scheme is to generate long term capital appreciation by investing in equity and equity related instruments by following a contrarian investment strategy.
