Mirae Asset Mutual Fund launches the Mirae Asset Balanced Advantage Fund; essential things to know

Asset management firm Mirae Asset Mutual Fund on Wednesday launched an open-ended dynamic asset allocation fund Mirae Asset Balanced Advantage Fund. The new fund offering (NFO) will be open for subscription from July 21 to August 3. The fund will be jointly managed by Harshad Bowake, fund manager and head of research, equity side and Mahendra Jajoo, CIO Fixed income, debt side. side. The fund’s benchmark will be the Nifty50 Hybrid Composite Debt 50:50 Index.

The minimum initial investment in the fund will be Rs 5,000 and multiples of Re 1 thereafter. The fund will be offered to regular plan and direct plan investors. After NFO, the minimum additional purchase amount will be Rs 1,000 and in multiples of Re 1 thereafter.

During a webinar, Swarup Mohanty, CEO of Mirae Asset Investment Managers (India), said: “Investors fear falling markets. But in a country like India, not participating in equity markets could be a long-term regret. Mirae Asset Balanced Advantage Fund seeks to preserve investor participation throughout market cycles and aims to generate reasonable returns over the long term.

Neelesh Surana, CIO, Mirae Asset Investment Managers (India), said: “We are building in the domestic stock market. However, the shift in global interest rate regimes and rising crude oil prices are among the main headwinds for the market. He further added that the growing economy and earnings will support the markets going forward.

With a monthly SIP book amount of Rs 859 crore, Mirae Asset Management said it has assets under management of Rs 1 lakh crore. The fund manager has seen a 59% CAGR growth over the past five years.

Given the current market conditions, Mirae Asset Investment Managers sees recovery in many sectors, including housing, banking, telecommunications, information technology, manufacturing, automotive and rural. He further added that the corporate debt ratio currently hovers around 0.6 times. He was last seen in FY05.

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Dolores W. Simon