Mirae Asset MF launches Global Commodity Stocks Fund

Mirae Asset Global Investment Management (India) Pvt. Ltd. has launched Mirae Asset Global Commodity Stocks Fund. The fund is an open-ended equity scheme with an objective to generate long term capital appreciation through an actively managed portfolio investing in equity and equity related securities of companies that are engaged in commodity and commodities related sectors/sub sectors/industries, with at least 65% of the corpus invested overseas in Asia Pacific and Emerging Markets. (View - New Fund Offers open NOW)

The new fund offer opens for subscription on June 24, 2008 and will close for subscription on July 23, 2008.

The fund offers Regular Plan with Dividend and Growth options. The minimum application amount is Rs 5000 in multiples of Re 1 under the plan.The scheme will charge entry load of 2.25% for investment of less than Rs 5 crore during the initial offer. Exit load of 1% will be charged if the investment is redeemed within 6 months (180 Days) from the date of allotment, and 0.50% if the investment is redeemed on or after 6 months (180 Days) and up to 12 months (365 Days) from the date of allotment.

The scheme's benchmark index will be MSCI Asia Pacific ex Japan and India Energy & Materials Index (55%)+ MSCI Brazil Energy & Materials Index (10%) + BSE 200 (35%)

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