Mirae Asset MF plans to launch fixed income schemes

Mirae Asset is also focusing to buy real estate asset in India

July 10, 2013 11:17 IST | India Infoline News Service
Mirae Asset Mutual Fund plans to launch new fixed income schemes to expand its reach to more cities.

In April, the company had said that it may launch a balanced fund and an exchange traded fund (ETF) in future to complete its product basket.

The company's Mirae Asset India Opportunities Fund (MAIOF)—an investment fund offered to local investors in India—completed five years recently.

Despite tough market conditions, Mirae Asset Emerging Bluechip Fund, the flagship scheme focusing on mid-cap stocks, has managed to give 8% returns over three years as compared to a negative return of 4% registered by CNX NSE Midcap, Jisang Yoo, Chief Executive Officer, Mirae Asset Global Investments, said.

“We collected just Rs. 230 million through the Bluechip Fund three years back, which has now grown to Rs 1.44 billion,” he said.

“Mirae is also focusing to buy real estate asset in India. However, the company is waiting for regulatory amendments,” Yoo added.

Mirae Asset Global Investments was founded in Korea in 1997. In 2003, it started expanding to overseas countries. One of the world’s largest emerging market equity investment managers, Mirae Asset India was established in November 2007.

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