Mirae Asset plans to launch Mirae Asset Asia Pacific Opportunities Fund and has filed an offer document with the market regulator SEBI.
Mirae Asset Asia Pacific Opportunities Fund is an open ended diversified equity fund, which aims at generating long term capital appreciation by investing in equity and equity related securities in Asia Pacific markets with atleast 65% of the corpus investing into Indian markets.
The scheme will offer two plans that are regular and institutional plan. The minimum application amount under the regular plan is Rs 5,000 and in multiples of Rs 1 thereafter. Under institutional plan this figure is Rs 50 million and in multiples of Rs 1 thereafter.
Each plan will offer two investment options to the investors- growth option and dividend option.
The scheme will charge an entry load of 2.25%, if the amount invested is less than Rs 50 million under the regular plan. There will not be any entry load on investment made through institutional plan, SIP and Fund Of Fund.
On the other hand, if the amount invested is less than Rs 50 million and the units are redeemed within six months from the date of allotment, then there will be an exit load of 1% and if redeemed within one year than there will be an exit load of 0.5%.
The scheme will measure the performance of the scheme against BSE 100 (65%) and MSCI-AC Asia Pacific ex Japan Index (35%).