Mirae Asset Investment Managers India announced the launch of ‘Mirae Asset Banking and PSU Debt Fund’. The NFO will open for subscription on July 8, 2020, and will close on July 20, 2020. The fund is an open-ended debt scheme predominantly investing in debt instruments of Banks, Public Sector Undertakings, Public Financial Institutions, and Municipal Bonds.
The fund will be benchmarked with NIFTY Banking and PSU Debt Index and will be managed by Mahendra Jajoo, Chief Investment Officer, Fixed Income.
Fund Highlights:
- Fund will predominantly invest in high credit quality papers (mainly AAA rated instruments)
- Dynamically manage portfolio duration to take advantage of the interest rate outlook. We will endeavor to maintain a duration of 2-5 years.
- Endeavour to ensure high portfolio liquidity by investing in Banking & PSU papers (>80%) along with some allocation to Government Securities
