Mirae Asset Mutual fund has unveiled the Mirae Asset Short Term Bond Fund, an open-ended debt scheme on 23 June 2009. The new fund will be opened for fresh subscription till 22 July 2009. The offer price is Rs 10 per unit. The investment objective of the scheme is to seek to generate returns through an actively managed diversified portfolio of debt and money market instruments.
The scheme offers two plans viz. regular and institutional with growth and dividend option. The dividend option will offer dividend payout, dividend reinvestment and dividend transfer option.
No entry load is payable under the scheme. The scheme will charge 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 minimum application amount under the regular plan is Rs 5000 and in multiples of Re 1 thereafter and the minimum investment amount under institutional plan is Rs 10 lakhs and in multiples of Re 1 thereafter.
The scheme offers two plans viz. regular and institutional with growth and dividend option. The dividend option will offer dividend payout, dividend reinvestment and dividend transfer option.
No entry load is payable under the scheme. The scheme will charge 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 minimum application amount under the regular plan is Rs 5000 and in multiples of Re 1 thereafter and the minimum investment amount under institutional plan is Rs 10 lakhs and in multiples of Re 1 thereafter.
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