Home / Mutual Funds / News /  Mirae Asset MF applies for June 2027 Target Maturity Index Fund
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Mirae Asset Mutual Fund has filed the draft scheme information document (SID) for Mirae Asset Nifty PSU Bond Plus SDL Jun 2027 50:50 Index Fund with market regulator Sebi under the debt index fund category. 

It will be an open-ended passive target maturity index fund predominately investing in constituents of Nifty PSU Bond Plus SDL Jun 2027 50:50 Index. The scheme will be benchmarked against Nifty PSU Bond Plus SDL Jun 2027 50:50 Index and will mature on June 15, 2027.

The investment objective of the scheme is to provide returns that closely correspond to the total returns of the securities as represented by the underlying index, subject to tracking error.

Out of the two components of the index, in case of SDLs, issuers of top 10 states/UTs are selected based on the maturing of their outstanding amount during the twelve-month period ending June 15, 2027. Out of the selected states/UT, SDL with the longest maturity are chosen to be part of the index. Each state/UT that is part of the SDL component is given equal weight as on the base date of the index.

For the PSU Bond component that constitutes the rest of the 50% of the index, issuers having credit rating of “AAA" (Triple A) and eligible bonds maturing during the twelve-month period ending June 15, 2027 at the time of index creation/review are shortlisted. Out of the selected ones, those which have minimum amount of Rs. 1000 crores are further shortlisted.

The index will be reviewed at the end of each calendar quarter.

The tentative portfolio is given after considering the data cut-off date of August 31, 2021. Some of the issuers include state governments of Uttar Pradesh, Tamil Nadu, Maharashtra in case of SDLs, and Power Finance Corporation Limited, REC Limited and Indian Railway Finance Corporation in the PSU bond category. The tentative portfolio consists of 19 securities belonging to 10 states/UTs and nine government-owned entities.

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