Mirae Asset Mutual Fund has approved the following changes in the fundamental attributes of Mirae Asset India China Consumption Fund with effect from March 4, 2016:
Name of the Scheme: The scheme will be renamed as Mirae Asset Great Consumer Fund.
Type of Scheme: The type of scheme will be changed from open ended equity oriented scheme to open ended consumption oriented sector scheme.
Investment objective: The investment objective will be changed to generate long term capital appreciation by investing in a portfolio of companies/funds that are likely to benefit either directly or indirectly from consumption led demand in India and across the Asia Pacific region.
Asset Allocation: The Asset Allocation will be changed to 65-80 percent in Indian Equities and Equity related securities of companies that are likely to benefit either directly or indirectly from consumption led demand, 20-35 percent in units of Mirae Asset Asia Great Consumer Fund, and/or in other mutual funds having similar objectives, strategies and attributes and 0-15 percent in Money market instruments/debt securities Instruments and/or units of debt/liquid schemes of domestic Mutual Funds.
Benchmark Index: S&P BSE 200 (65%) & S&P BSE Asia Pacific Emerging BMI (35%).