Mirae Asset India launches mutual fund in Kerala

Kochi, Feb 16: Mirae Asset Financial Group, Asia's leading asset management company, has announced the launch of its first equity fund offering 'Mirae Asset India Opportunities Fund' here.

Speaking to reporters last evening, Company National Head of Retail Sales Manesh Thakur said it was an open-ended diversified equity fund with an objective to generate long-term capital appreciation by capitalising on potential opportunities through investing in equities and equity-related securities.

The new fund offer (NFO) priced at Rs 10 per unit (plus applicable entry load) would be open from February 11 to March 10 and offers SIP facility even during the NFO.

Mr Thakur said the fund would invest between 65 to 100 per cent in Indian securities and equity-related securities and up to 30 per cent in money market instruments and debt securities investments.

''The fund delivers returns focusing on select high performing sectors or industries and offers complete flexibility to diversify across sectors, market caps &investment styles and thus seeks to minimise the risks during market volatility,'' he noted.

Mirae Asset, established in South Korea, manages an AUM of 132 billion dollars, which is highly diversified by asset class and client group. In India, the group as a FII since 2005 has investments of over Rs 12,000 crore through offshore funds.

UNI