Mirae Asset Files for New LargeMid ETF & Debt Fund

Mirae Asset Mutual Fund has filed offer documents with SEBI for the launch of two distinct new schemes. These include an open-ended Exchange Traded Fund (ETF) and an interval investment strategy debt fund, expanding its investment product offerings.

Introducing the Stable Dividend ETF

The first offering is an open-ended ETF, specifically titled ‘Mirae Asset BSE LargeMid (60:40) Stable Dividend 50 ETF’. This fund intends to invest in companies identified for their stable dividend payouts within both the large and mid-capitalization market segments. Its New Fund Offer (NFO) price is directly linked to a fraction of the underlying index’s value.

• NFO Price: 1/100th value of the BSE LargeMid (60:40) Stable Dividend 50 Index as on the date of allotment.
• Loads: Nil for both entry and exit.
• Minimum Target Amount: Rs 5 crore.
• Benchmark: BSE LargeMid (60:40) Stable Dividend 50TRI (Total Return Index).

Exploring the Interval Debt Fund

The second scheme, an interval investment strategy fund, is named ‘Platinum Sectoral Debt Long-Short Fund’. This particular fund is structured to operate with a distinct NFO price per unit. Furthermore, it implements a tiered exit load mechanism, which varies based on the duration of the investment.

• NFO Price: Rs 10 per unit.
• Entry Load: Nil.
• Exit Load Structure:
  • 3% if redeemed within 1 year.
  • 2% after 1 year but before 2 years.
  • 1% after 2 years but before 3 years.
  • Nil after 3 years from the date of allotment.
• Option: Features a Growth option.

These filings with SEBI signify Mirae Asset Mutual Fund’s strategic move to broaden its product portfolio, offering investors more diversified options in both equity and debt segments. This expansion provides new avenues for capital deployment.