Mirae Asset Mutual Fund, one of the fastest growing fund houses in India, has announced the launch of Mirae Asset Balanced Advantage Fund (“Fund/Scheme”), an open-ended dynamic asset allocation fund.
The NFO for the fund opens for subscription on July 21, 2022 and closes on August 3, 2022. The fund will be jointly managed by Mr Harshad Borawake, fund Manager and Head of Research, on the Equities side and Mr. Mahendra Jajoo, CIO Fixed Income, on the Debt side. The benchmark Index for the Fund will be the Nifty 50 Hybrid Composite Debt 50:50 Index.
The minimum initial investment in the fund will be Rs 5,000 and multiples of Re 1 thereafter.
"Investors fear falling markets. But in a country like India, not participating in the equities markets could be a matter of regret in long run. Mirae Asset Balanced Advantage Fund seeks to preserve investor participation throughout the market cycles and aims to generate reasonable performance over the long run."said Mr. Swarup Mohanty, CEO, Mirae Asset Investment Managers (India) Pvt. Ltd ("AMC").
The AMC has been offering product suites designed to address the needs of investors keeping in mind the risk reward factor and Mirae Asset Balanced Advantage Fund is a continuation of this process aimed at offering right kind of investment solutions, Mr Mohanty added.
The Mirae Asset Balanced Advantage Fund will be available to investors in both, Regular Plan and Direct Plan. Post NFO, the Minimum Additional Purchase Amount will be Rs 1000 and in multiples of Re 1 thereafter.
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