The schemes available for purchase & redemption are Mirae Asset India Opportunities Fund (MAIOF); Mirae Asset Global Commodity Stocks Fund (MAGCSF) and Mirae Asset China Advantage Fund (MACAF)
Mirae Asset Global Investments (India) Pvt. Ltd. has tied up with Bombay Stock Exchange (BSE) for providing a facility to its investors to transact in Mirae Asset Mutual Fund units through the new mutual funds platform of the Bombay Stock Exchange (BSE).
The AMC will allow purchase/ redemption of units of its equity/fund of funds schemes through the BSE StAR MF platform. BSE StAR MF is an electronic platform introduced by BSE for transacting in units of mutual funds. The schemes available for transacting on the BSE StAR MF platform are Mirae Asset India Opportunities Fund (MAIOF); Mirae Asset Global Commodity Stocks Fund (MAGCSF) and Mirae Asset China Advantage Fund (MACAF). Trading members of BSE, who are AMFI certified stock exchange brokers and also empanelled with the AMC, can help investors to subscribe and redeem the mutual fund units using their existing network and order collection mechanism provided by BSE. Currently, the window for purchase/redemption of units on BSE will be available between 9 a.m. and 3 p.m.
On the occasion, Mr. Arindam Ghosh, CEO, Mirae Asset Global Investments (India) Pvt. Ltd. said, “Mirae Asset’s arrangement with BSE will facilitate quicker settlement of transactions and provide a single window to investors. The tie up with BSE will be an additional facility provided to investors and will work along with the existing distribution network.”
“This tie up will enable Mirae Asset to reach out to more number of investors across the country.” Mr. Ghosh added.
About Mirae Asset Mutual Fund
Mirae Asset Global Investments (India) is a wholly-owned subsidiary of the Mirae Asset Financial Group.
In less than a decade Mirae Asset Global Investments has become one of the world’s largest investors in emerging market equities managing assets of over USD 54 billion* (approx Rs. 2,50,000 crores) in these markets as on January 2010.
Headquartered in South Korea, Mirae Asset Global Investments also has investment management operations in Hong Kong, India, Vietnam, USA, United Kingdom and Brazil. Apart from Asset management, Mirae Asset Financial Group has business interest in Life Insurance, Securities and Investment & Venture Capital.
*Source: Mirae Asset Global Investments – Data as on January’10
Investment Objective: Mirae Asset India Opportunities Fund (An open-ended equity oriented scheme): To generate long term capital appreciation by capitalizing on potential investment opportunities through predominantly investing in equities, equity related securities. There is no assurance or guarantee of returns. Mirae Asset Global Commodity Stocks Fund (An open-ended equity scheme): 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. There is no assurance or guarantee of returns. Mirae Asset China Advantage Fund (an open-ended fund of funds scheme): The investment objective of the scheme is to generate long-term capital appreciation by investing predominantly in units of Mirae Asset China Sector Leader Equity Fund and/or units of other mutual fund schemes, units of exchange traded schemes that focus on investing in equities and equity related securities of companies domiciled in or having their area of primary activity in China and Hong Kong. The Scheme may also invest a certain portion of its corpus in debt and money market securities and/or units of debt/liquid schemes of Domestic Mutual Funds, in order to meet liquidity requirements from time to time. The Scheme does not guarantee or assure any returns. Transparency: The NAV will be calculated at the close of every working day and shall be published in two daily newspapers. Load Structure: Entry Load: NIL. In terms of SEBI circular no. SEBI/IMD/CIR No.4/ 168230/09 dated June 30, 2009, no entry load will be charged by the Scheme to the investor effective August 1, 2009. Upfront commission shall be paid directly by the investor to the AMFI registered Distributors based on the investors’ assessment of various factors including the service rendered by the distributor. Exit Load: a. Redemption within 1 year (365 days) from the date of allotment (including SIP/STP/SWP): 1.00%, b. Redemption after 1 year (365 days) from the date of allotment: NIL. Exit Load: Any Amount (Including Systematic Withdrawal Plan/ Systematic Investment Plan/ Systematic Transfer Plan applications): Redemption within 1 year (365 days) from the date of allotment-1.00%, Redemption after 1 year (365 days) from the date of allotment- NIL. Statutory Details: Trustee: Mirae Asset Trustee Company Private Limited; Investment Manager: Mirae Asset Global Investments (India) Private Limited (AMC); Sponsor: Mirae Asset Global Investments Company Limited. Risk Factors: Mutual funds investments are subject to market risks and there is no assurance or guarantee that the objectives of the scheme will be achieved. As with any investment in securities, the Net Asset Value (NAV) of the units issued under the Schemes can go up or down depending on the factors and forces affecting the capital markets. Past performance of the Sponsor does not indicate the future performance of the Schemes of Mirae Asset Mutual Fund. The sponsors are not liable or responsible for any loss resulting from the operation of the fund beyond the initial contribution made by them of an aggregate amount of Rupees One Lakh towards setting up of the fund. Mirae Asset India Opportunities Fund, Mirae Asset Global Commodity Stocks Fund and Mirae Asset China Advantage Fund are only the name of the schemes and does not in any manner indicate either the quality of the schemes or its future prospects or returns. Investors in the scheme are not being offered any guaranteed / indicative / assured returns. Please see "Risk Factors", "Scheme Specific Risk Factors and Special Consideration" and "Right to limit redemptions" in the scheme information Document. Please read the Scheme Information Document/ Statement of Additional Information carefully before investing. Scheme Information Document / Key Information Memorandum cum Application form are available at AMC offices/AMC web-site www.miraeassetmf.co.in / Investor Service Centre / Distributors.
