Mirae Asset launches Short Term Bond Fund

The new fund offer (NFO) open for subscription from June 23 to July 22 2009.  The fund will re-open for continuous sale and re-purchase on August 12, 2009.  The NFO price is Rs 10 per unit.

The scheme offers two plans viz. Regular Plan and Institutional Plan with growth and dividend option. The dividend option will offer dividend payout, dividend reinvestment and dividend transfer option.

Minimum investment amount in Regular Plan is Rs 5,000 and in multiples of Re 1 thereafter. The Minimum investment amount in Institutional Plan Rs 10 lakhs and in multiples of Re 1 thereafter.

Entry Load Nil, for both Regular & Institutional Plan. Exit Load 0.25% for regular plan, if redeemed within 90 days from the date of allotment and 0.15% for institutional plan, if redeemed within 15 days from the date of allotment.

The scheme will invest up to 20-100% in money market instruments and debt instruments with residual maturity and repricing tenor not exceeding 182 days. The scheme may invest upto 80% in debt instruments with residual maturity and repricing tenor exceeding 182 days (including Securitized Debt upto 50% of net assets).

The scheme will be benchmarked against CRISIL Short Term Bond Fund Index.

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