New NFO: Mirae Asset Mutual Fund, one of the leading fund houses of the country, has launched a new fund ‘Mire Asset Nifty SDL June 2027 Index Fund’.
New NFO: Mirae Asset Mutual Fund, one of the country’s leading fund houses, has launched a new fund ‘Mirae Asset Nifty SDL June 2027 Index Fund’. This Target Maturity Index Fund will track the Nifty SDL June 2027 Index. This NFO has opened today (March 25) and will be able to invest money in it till March 29, 2022 i.e. Tuesday next week. It is an open-ended target maturity index fund. In this, investors will have to invest at least 5 thousand rupees. Talking about the risk on investment, the interest rate risk is high while the credit risk is low.
According to Mahendra Jaju, CIO (fixed income), Mirae Asset Investment Managers (India), there is uncertainty due to the possibility of a hike in interest rates in the current circumstances. In such a situation, this fund can prove to be a good option for investors with high return potential and good portfolio.
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Fund details
- Mirae Asset Nifty SDL June 2027 Index Fund is an open-ended Target Maturity Index fund.
- This NFO is open today and will be open for subscription till Tuesday next week.
- The minimum initial investment in the scheme during NFO will be Rs 5,000 and thereafter in multiples of Rs.
- The money invested in this fund will track the Nifty SDL June 2027 index, that is, according to this index, the money invested in the fund will increase.
- Talking about the risk on investment, the interest rate risk is high while the credit risk is low.
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Fund highlights
- Target Maturity Index Funds invest passively in debt securities with an objective to move in line with the underlying index and have a specified maturity date. It differs from other open-ended debt mutual funds because of its fixed maturity debt feature.
- There is no lock-in for investing in this fund and investors can subscribe or redeem it anytime throughout the life cycle of the fund.
- In the same maturity, it is offering a higher yield as compared to the schemes of the Central Government.
- It can give higher returns (after deducting tax) as compared to traditional fixed income investment options. The money of this fund will be invested in SDL (State Development Loans) on which there is a sovereign guarantee i.e. the credit risk is negligible.
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