Mirae Asset Mutual Fund has introduced their new fund Mirae Asset Balanced Advantage Fund via NFO.
The key highlights of the Mirae Asset Balanced Advantage Fund- New Fund Offer (NFO) are below :
The NFO is open for submission of applications from investors between 21-July-2022 to 3-Aug-2022.
Fund will re-open on 12th August 2022 after NFO for further applications.
This new fund is an open-ended dynamic asset allocation scheme (also known as hybrid funds). As per the NFO disclosure, the benchmark index for the Fund are going to be the Nifty 50 Hybrid Composite Debt 50:50 Index.
Fund aims to capture the market upside bull phase and limit the downside during bear phases. Because of its dynamic asset allocation between equity, arbitrage and debt instruments, this fund will help maximise return during volatile times.
As per prospectus, the fund managers of this fund will follow an indoor model based on adjusted PE (Price to Earnings) and PBV (Price to Book Value) ratio in equities, and a Buy and Hold strategy in debt allocation.
Minimum Investment during NFO – Rs 5,000 and multiples of Re 1 thereafter.
Minimum Additional Purchase Amount – Rs. 1000/- and in multiples of Re. 1/- thereafter.
Minimum (monthly/quarterly) SIP Amount – Rs. 1000/- and in multiples of Re. 1/- thereafter.
Plans – Scheme is available to investors in both, Regular Plan and Direct Plan.
Options – Growth Option & Income Distribution cum Capital Withdrawal option (IDCW)– Payout & Reinvestment option.
Applicable Loads – Entry Load is Nil. Exit Load is 1% of the applicable NAV if redeemed within 1 year from the date of allotment and NIL if redeemed after 1 year from the date of allotment:
Investors should have 3-5 years of investment horizon for investing in this fund.
Redemption – T+3 business days.
Taxation – Equity.
Risk-o-meter – High.
Disclaimer : Mutual Fund investments are subject to market risks, read all scheme related documents carefully.