Mirae Asset Mutual Fund files offer document for Life Cycle Fund 2056
Mirae Asset Mutual Fund has filed offer document with SEBI to launch an open-ended fund named ‘Mirae Asset Life Cycle Fund 2056’. The New Fund Offer price for units would be Rs 10 per unit during the NFO. Entry load will be nil. If redeemed within 1 Year from the date of allotment/within one year of investment: Exit load will be 3%; If redeemed after 1Year from the date of allotment/investment but before completion of 2 years Exit load will be 2%; If redeemed after 2 Year from the date of allotment/investment but before completion of 3 years Exit load will be 1%; If redeemed after 3 Year from the date of allotment/investment Exit load will be NiI. 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 65% Nifty 500 TRI + 25% NIFTY Short Duration Debt Index + 7.5% Domestic prices of Gold + 2.5% Domestic prices of Silver. The minimum application amount during NFO 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 a diversified portfolio of equity and equity related instruments, debt and money market instruments, InvITs, Gold and silver ETFs, and Exchange-Traded Commodity Derivatives (ETCDs), in accordance with a predefined glide path with maturity by the year 2056.
