Upcoming NFO: Mirae Asset Life Cycle Fund 2056; check key details

Basic information Name of the scheme: Mirae Asset Life Cycle Fund 2056 Category: Life Cycle Fund Type: An open ended fund with attributes of pre-determined maturity and glide path for goal based investing. Face value: ₹10 per unit (during NFO)

Objective The scheme seeks to generate long-term capital appreciation by investing in a diversified portfolio of equity and equity-related instruments, debt and money market instruments, InvITs, Gold and Silver ETFs, and Exchange-Traded Commodity Derivatives (ETCDs)

Benchmark The benchmark for the scheme is 65% Nifty 500 TRI + 25%NIFTY Short Duration Debt Index + 7.5% domestic prices of gold + 2.5% domestic prices of silver

Asset allocation Based on the years to maturity, the scheme will invest across equity, debt and other instruments. Money Market instruments includes commercial papers, commercial bills, treasury bills, Government securities having an unexpired maturity up to one year, call or notice money, certificate of deposit, usance bills, and any other like instruments. Also, the exposure in debt instruments shall be limited to AA & above rated instruments with residual maturity less than the target maturity of the scheme.

Investment approach The scheme will follow an 'Active’ investment strategy. It will follow a structured 30-year glide path for asset allocation that gradually reduces directional equity risk exposure while increasing allocation to debt and arbitrage as the scheme approaches maturity

Fund managers Harshad Borawake: Head - Research and Fund Manager · Mirae Asset Investment Managers has over 21 years of professional experience. Basant Bafna: Head - Fixed Income, Mirae Asset Mutual Fund has over 14 years experience in the banking industry. Ritesh Patel: Senior Manager (ETF Investments)- Mirae Asset Mutual Fund (India) has over 13 years experience in the commodities market.

Exit load If redeemed within 1 year from the date of allotment/within one year of investment: 3% of NAV If redeemed after 1 year from the date of allotment but before completion of 2 years: 2% If redeemed after 2 years from the date of allotment but before completion of 3 years: 1% If redeemed after 3 years from the date of allotment: NIL

Minimum Investment During NFO and on a continuous basis: ₹5000 and in multiples of ₹1 thereafter SIP: ₹99 and in multiples of ₹1 thereafter Minimum additional purchase amount: For subsequent purchases, minimum investment amount is ₹1000.

NFO details NFO period: Not announced yet Price during NFO: ₹10 per unit The fund carries a "high" risk according to the scheme’s riskometer.

Disclaimer: This article is written purely for informational purposes and should not be considered investment advice from Upstox. Securities mentioned are illustrative and not recommendations. Investors should do their own research or consult a registered financial advisor before making investment decisions.