Mirae Asset Korea Discovery Fund Files offer document with Sebi

Mirae Asset Mutual Fund has filed an offer document with Securities and Exchange Board of India (SEBI) to launch Mirae Asset Korea Discovery Fund, an open ended fund of funds scheme. The new fund offer (NFO) price for the scheme will be Rs. 10 per unit.

The investment objective of the scheme is to generate long-term capital appreciation by investing predominantly in units of Mirae Asset Korea 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 Korea. 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 shall offer growth and dividend option.

The scheme may invest 80% to 100% of assets in units of Mirae Asset Korea Equity Fund and/or units of other mutual fund schemes, units of ETFs investing in equities and equity related securities of companies domiciled in or having their area of primary activity in Korea with high risk profile. It would invest up-to 20% of assets in money market instruments / debt securities Instruments and/or units of debt/liquid schemes of domestic mutual funds with low to medium risk profile.