NFO or New Fund Offer launched by Mirae – Mirae Asset Focused fund is now open for subscription. Below are some of the details of the fund –
- Open-ended equity mutual fund
Focused approach on the investments.
Investments will be limited to a maximum of 30 stocks.
Flexibility to invest across market capitalization. (Large, Mid and Small Cap)
Nifty 200 Index (TRI)
About the fund Manager
Mr. Gaurav Misra – has a rich experience of over 23 years in fund management and research. Prior to joining Mirae Asset Mutual Fund, he was associated with ASK Investment Managers Pvt. Ltd. for 13 years. Mr Gaurav is an MBA from IIM Lucknow and BA Economics (Hons) from St. Stephen’s College, Delhi.
Other fund co-managed by Mr Gaurav Misra along with Mr Neelesh Surana & Mr Harshad Borawake – Mirae Asset India Equity Fund (Multi-Cap Fund – An open-ended equity scheme investing across large cap, mid cap, small cap stocks). w.e.f. 31st January 2019.
Should you include it in your client’s portfolio
Shilpa Wagh, founder of Wagh Financials, believes the focused category to be a good option for investors who are willing to take the risk of a concentrated portfolio but not in the core allocation.
“There are funds in this category that have done well and as a category, I recommend it for investors who understand the risks from such a portfolio,” she said. “But I don’t recommend NFOs as a rule since there is no portfolio or performance to evaluate.”
This is a view that is echoed by Vikram Krishnamoorthy of Insightful. “When markets are high, as they are now, any equity exposure a person should have should ideally be into large-cap and multi-cap funds. As a category, focused funds in the multi-cap space is fine even in these conditions as long as the investor has a long term to invest,” said Krishnamoorthy.
“NFOs are something that I don’t generally ask my investors to put in their money into” he added.