Mirae Asset announced the launch of the Mirae Asset Emerging Bluechip Fund, an open-ended equity fund, today.
The fund is primarily a mid-cap fund that invests in Indian equities and equity-related securities of companies that are not a part of the top 100 stocks by market capitalisation, but have a market cap of at least Rs 100 crore at the time of investment, a release said.
Though the fund does not have any theme bias, it will invest in securities with the objective of generating income and long-term capital appreciation.
Mirae Asset Emerging Bluechip Fund's NFO will run from May 24 to June 22, the release said, adding that the units will be available at Rs 10 each during the period.
Mirae Asset Global Investments (India) CEO Arindam Ghosh said, "With the launch of Mirae Asset Emerging Bluechip Fund, we're expanding our portfolio by offering a mid-cap equity fund. We believe that today's mid-cap stocks have the potential to be tomorrow's large-caps and a right amount of mid-caps in the portfolio can help investors optimise their risk-adjusted returns."
Source: http://economictimes.indiatimes.com/personal-finance/mutual-funds/mf-news/Mirae-Asset-launches-emerging-bluechip-fund/articleshow/5969234.cms
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