Mirae Asset Mutual Fund has launched its open-end liquid scheme, Mirae Asset Cash Management Fund.
The fund will primarily invest in CBLO/ Reverse Repo, Debt Instruments linked to short end rates such as MIBOR, etc. It can also invest in debt and money market instruments up to 35 per cent of the asset (including securitized debts up to 30 per cent of the net assets).
The fund is meant for investors to deploy their funds for a short period of time. The fund will keep low risk profile and maintain high liquidity.
Mr. Murthy Nagarajan will be the designated fund manager of the scheme. He also manages all the existing debt schemes of the fund house. He has over 17 years of experience in the field of financial services.
This fund, being a cash fund, will provide ample liquidity and low risk. It will serve the investors who are looking to park their short term surpluses.
NFO Opens: January 5, 2009
NFO Closes: January 6, 2009
Scheme Re-opens: January 13, 2009
Type: Open-end Liquid Scheme
Benchmark: CCIL Mibor
Options: Dividend, growth & Bonus
Entry load: Nil
Exit load: Nil
Minimum Application Amount: Rs 5000