Mirae Asset Mutual Fund has launched the Mirae Asset Short Term Fund, an open ended income scheme. The NFO opens for subscription on February 23, 2018 and closes on March 09, 2018. Entry load will be nil and exit load will be 0.25% if redeemed within 1 month (30 days) from the date of allotment and nil if redeemed after 1 month (30 days) from the date of allotment applicable for the scheme. The minimum subscription amount is Rs 5000.
The scheme's performance will be benchmarked against CRISIL Short Term Bond Fund Index and its fund manager is Mahendra Kumar Jajoo.
The investment objective of the scheme is to generate returns through an actively managed diversified portfolio of debt and money market instruments with Macaulay duration of the portfolio between 1 year to 3 years.