|Mirae Asset Mutual Fund has launched a new fund named as Mirae Asset Midcap Fund, an open ended equity scheme predominantly investing in mid cap stocks. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 08 July to 22 July 2019.
The investment objective of the scheme is to provide long-term capital appreciation from a portfolio investing predominantly in Indian equity and equity related securities of midcap companies. From time to time, the fund manager may also participate in other Indian equities and equity related securities for optimal portfolio construction.
The scheme offers two plans regular plan and direct plan. Both plans offer growth option and dividend option. The dividend option shall have only reinvestment and payout option.
The scheme would allocate 65% - 100% of assets in equity and equity related securities of midcap companies with high risk profile and invest upto 35% of assets in equities and equity related securities other than above with high risk profile. Invest upto 35% of assets in money market instruments / debt securities, instruments and/or units debt/liquid schemes of domestic mutual funds with low to medium risk profile.
The minimum application amount is Rs 5000 and in multiples of Re. 1/- thereafter.
The minimum additional amount is Rs 1000 and in multiples of Re. 1/- thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period.
Entry load: Not Applicable
Exit load: If redeemed within 1 year (365 days) from the date of allotment: 1%
If redeemed after 1 year (365 days) from the date of allotment: NIL.
Benchmark Index for the scheme is NIFTY Midcap 100 Index (TRI)
The fund manager of the scheme is Ankit Jain
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