In a press release, the fund house has shared the rationale for launching 1 year FMP and said,” RBI raised rates (on 29th January 2014) in precautionary measure sighting the uncertainty among the emerging markets.Recently we have seen spike in short term rates because of the rate hike. In the current scenario debt markets are expected to remain volatile given the FED tapering and pressure on emerging markets currencies. In this view we feel at these attractive short term rates, investors can lock in their funds in 1 year FMP.”
Jisang Yoo, Chief Executive Officer of Mirae Asset Global Investments (India) said, “We are aiming to increase our fixed income product basket and FMP is the most suitable product offering in the current market conditions.”
Mirae Asset Fixed Maturity Plan - Series I - 368 Days is a close ended income scheme which focuses on generating income through investments in Debt and Money Market Instruments maturing on or before the maturity date of the respective plan.
