MFs offer two news schemes

Scheme I

Mirae opportunities fund opens on Feb 11

PFW Bureau / Feb 8

Mirae Asset Global Investment Management has lunched its maiden equity fund - Mirae Asset India Opportunities Fund. The fund is an open-ended diversified equity fund which will open on February 11 to close on March 10. The units can be purchased during the NFO period at a face value of Rs 10  along with applicable load.

The investment objective of the fund is to generate long-term capital appreciation by capitalizing on potential investment opportunities through predominantly investing in equities and equity related securities. The fund would invest between 65% to 100% in Indian equities and equity related securities and 0% to 35% in money market instruments  and debt securities instruments.

Arindam Ghosh, CEO, Mirae Asset Global Investment Management told reporter that the new asset management company is focused on providing the investors with a range of products both on equity as well as fixed income.
Gopal Agrawal, head of equity, Mirae Asset Global Investment Management said that the minimum amount for investments is Rs. 5000/- and thereafter in multiples of Re.1/-. The entry load is 2.25% for each purchase of less than Rs 5 crores. For amounts greater than or equal to Rs. 5 crores the entry load is NIL. The fund offers SIP facility even during the NFO.

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Schemes II .

Morgan Stanley MF offers open ended equity scheme

PFW Bureau /  Feb 8

Morgan Stanley Mutual Fund has launched an open-ended equity scheme ‘Morgan Stanley ACE. (Across Capitalisations Equity) Fund’. The investment objective of the scheme is to generate long-term capital growth from an actively managed portfolio of equity and equity-related securities including equity derivatives. The fund will be benchmarked against the BSE 200 and will be managed by Jayesh Gandhi as the lead portfolio manager.

The New Fund Offer (NFO) has been priced at Rs 10 per unit (plus applicable entry load) will be open for purchase from February 11 to close at March 10. The fund will reopen for ongoing transactions in April.
Commenting on the new fund, Narayan Ramachandran, CEO and country head, Morgan Stanley India said that  the new fund aims at the long-term capital growth.