Mirae Asset Global Investments (India) Pvt Ltd, the Indian arm of the South Korea headquartered company, has launched the Mirae Asset Healthcare Fund, an open-ended equity scheme that will invest in equities and equity-related company securities in India.
The company’s New Fund Offer (NFO) will open between June 11 and June 25, 2018. The fund will reopen for fresh purchases on July 3, after a week.
The Mirae Asset Healthcare Fund will maintain a portfolio of 30-40 stocks, with the flexibility to invest across markets, according to a company release.
“Mirae Asset is enhancing its product basket to provide varied investment solutions for its investors and partners. The launch of Mirae Asset Healthcare Fund is a step in the same direction. We are confident of the long-term prospects for investors in this fund,” Swarup Mohanty, CEO, Mirae Asset Global Investments (India) Pvt Ltd said.
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The fund will be managed by Vrijesh Kasera, the company’s fund manager, along with Neelesh Surana, CIO-Equities, Mirae Asset Global Investments (India) Pvt Ltd.
“The healthcare opportunity is secular and large, and the valuations are reasonable owing to consolidation in the recent past,” Neelesh Surana, CIO - Equities, Mirae Asset Global Investments (India) Pvt Ltd said.
“Mirae Asset Healthcare Fund could help investors build an exposure which is complementary to their existing allocation, and may have an attractive potential over the long-term,” Surana added.
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