Mirae Asset Mutual Fund files offer document for Floating Interest Rates Fund
Mirae Asset Mutual Fund has filed offer document with SEBI to launch an open-ended debt scheme named 'Mirae Asset Floating Interest Rates Fund'. The New Fund Offer price will be Rs 10 during the NFO. Entry load and exit load will be nil. The Scheme offers growth and Income Distribution Cum Capital Withdrawal Option for investment and seeks to collect a Minimum Target Amount of Rs 20 crore.
The performance will be benchmarked against NIFTY Short Duration Debt Index A-II. The minimum application amount is Rs 5000 and in multiples Re 1 thereafter.
The investment objective of the scheme is to generate returns and mitigate interest rate risk through an actively managed diversified portfolio comprising predominantly of floating rate instruments and fixed rate instruments swapped for floating rate returns and money market instruments.
