Mirae Asset Mutual Fund has announced the launch of Mirae Asset Balanced Advantage Fund — an open-ended dynamic asset allocation fund.
The NFO for the fund opens for subscription on July 21 and closes on August 3. The fund will be jointly managed by Harshad Borawake, fund Manager and Head of Research, on the Equity side and Mahendra Jajoo, CIO Fixed Income, on the bebt side.
The benchmark Index for the Fund will be the Nifty 50 Hybrid Composite Debt 50:50 Index. The minimum initial investment in the fund will be Rs 5,000 and multiples of Re 1 thereafter.
Mirae Asset Balanced Advantage Fund: Key highlights
A good investment option, especially in times of volatility, thanks to its dynamic asset allocation between equity, arbitrage and debt instruments.
The fund aims to capture the upside during a bull market and limit the downside during bear phases.
The fund managers will follow an internal model based on adjusted PE (Price to Earnings) and PBV (Price to Book Value) ratio in equities, and a Buy and Hold strategy in debt allocation.
A flexible approach to ascertain the asset allocation will be followed.
Exposure to equity and arbitrage instruments will ensure equity taxation for investors.
“Investors fear falling markets. But in a country like India, not participating in the equities markets could be a matter of regret in long run. Mirae Asset Balanced Advantage Fund seeks to preserve investor participation throughout the market cycles and aims to generate reasonable performance over the long run,” Swarup Mohanty, CEO, Mirae Asset Investment Managers (India), said.
Mirae Asset Balanced Advantage Fund is suitable for investors who are seeking to generate long-term capital appreciation/income; investment in equity, equity related securities & debt, money market instruments while managing risk through active allocation.