Yet another new fund on offer with a Global exposure is the Mirae Asset Global Commodity Stock Fund. The fund has a mandate of investing in equities of companies engaged in commodity and commodity related sectors and industries globally. This is the first Indian Fund investing in Global Commodity market.
The fund intends investing at least 65 per cent of its corpus in the overseas countries of Asia Pacific and Emerging Markets. The rest 35 per cent will be invested in Indian Equities and Equity related securities or in the money market, debt securities instruments including securitized debt (limited to 25 per cent).
The scheme investment is broadly focused on Energy Commodities, Metal and Materials Commodities and Food and Agro Based Commodities. The commodity market is growing and the demand for commodities is rising and hence, the time seems to be perfect for the launch of a commodity fund to encash the benefits underlying.
However the current scenario divides the world in two parts where the commodity consumer countries are getting wounded by the global economy slowdown, increasing commodity prices especially the oil prices, currency fluctuations, etc, whereas the commodity producer countries are still on the safer side. The fund investment set includes both Asia Pacific as well as emerging markets and hence the fund manager's right choice will help the fund benefit the investors from the underlying opportunities.
NFO Opens: June 24, 2008
NFO Closes: July 23, 2008
Type : Open Ended Equity Fund
Entry Load: For Investment less than Rs5 crore, 2.25 % entry load will be charged For Investment more than Rs5 crore, no entry load will be charged
Exit Load: For investment less than Rs5 crore:
a. If redeemed before six months, a load of 1% will be charged
b. If redeemed after six months but before 12months, 0.5% load will be charged
For investment more than Rs5 crore no exit load will be charged.
For Systematic Withdrawal Plan/ Systematic Investment Plan/Systematic Transfer Plan, if redeemed within 12 months of allotment, an exit load of 1% will be charged
Benchmark: MSCI Asia Pacific ex Japan And India Energy & Material Index(55%)+ MSCI Brazil Energy & Material Index (10%)+ BSE 200(35%)
Minimum Application: Rs 5000