Mirae Asset Mutual Fund has launched Mirae Asset Corporate Bond Fund, an open ended debt scheme predominantly investing in AA+ and above rated corporate bonds.
The fund will have some exposure to government securities and T-bills. Also, the fund will invest across the yield curve but target modified duration within a range of 2-5 years based on interest rate outlook.
In a press release, Swarup Mohanty, CEO, Mirae Asset MF said, “In the present environment, investors are looking for both returns and liquidity in their portfolios. The fund aims to generate income with moderate risk while remaining focused on high quality and liquidity. Since investments will be in corporate papers, the focus will be on our risk management process. This fund is suitable for investors looking for an investment horizon of over three years.”
Mahendra Jajoo, CIO – Fixed Income will manage this fund.
