Mirae Asset MF has launched Mirae Asset Ultra Short Duration Fund, a debt scheme suitable for investors looking at making investments for a short period of 3 to 6 months.
The NFO opened for subscription on September 28 and will close on October 6.
In a press release, the fund house said that Mirae Asset Ultra Short Duration Fund will aim to generate returns through investment in debt and money market instruments such that the Macaulay duration of the portfolio is between 3-6 months. The scheme will carry a low to medium amount of risk with a focus of investments in highly rated instruments (AAA/A1+ rated papers).
The fund will be managed by Mahendra Jajoo (CIO – Debt). The scheme will be benchmarked against the Nifty Ultra Short Duration Debt Index. The fund has no exit load.
Swarup Mohanty, CEO, Mirae Asset MF said, "The decision to launch Mirae Asset Ultra Short Duration Fund is in line with our objective to complete the debt product offering over a period of time and providing more investment options for our investors."
