Mirae Asset Mutual Fund, a leading asset management cum financial services Provider Company has rolled out 'Mirae Asset Gilt Fund', an open-ended Gilt scheme in the domestic market.

Through the launch, the company is offering investors the opportunity to participate in a portfolio comprising of Government Securities issued/guaranteed by Central and State Governments with varied maturity through Savings and Investment plans.

The investment objective of the fund is to generate returns commensurate with low credit risk by predominantly investing in a portfolio comprising of sovereign securities issued and guaranteed by Central and State Governments.

In addition, the Scheme may also invest in money market instruments including but not restricted to treasury bills, CBLO, repo/reverse repo and other like instruments.

The Scheme has two plans, Investment Plan and Savings Plan.

Under the first plan i. e. Investment option, the fund would invest 65 - 100% in sovereign securities issued and guaranteed by State and Central Govt., with an average portfolio maturity duration of the plan exceeding 4 years and 0 - 35% in money market instruments.

While under the Savings Plan, the asset allocation remains similar to the Investment Plan, the average portfolio maturity duration would not exceed 5 years.

Further, the fund offers various sub-plans within the two main plans which include Regular, Institutional, Bonus and Provident Fund sub-plan.

The minimum subscription amount under these sub-plans is Rs. 5,000/- (Regular & Bonus sub-plan), Rs. 10,000/- (Provident Fund sub-plan) and Rs. 10,00,000/- (Institutional sub-plan).

In addition, there will be no entry load charged to investors and the fund offers Growth and Dividend options in Regular & Institutional sub-plans.

The fund would be benchmarked against I-Sec Libex (Investment Plan) and I-Sec Sibex (Savings Plan). The NFO will be open from January 22 to February 2, 2009.