Mirae Asset introduces Life Cycle Fund 2056 NFO, SIP ₹99
Mirae Asset Mutual Fund just rolled out the Life Cycle Fund 2056, an open-ended scheme that matures in, you guessed it, 2056.
If you're curious about long-term investing, the NFO is open from September 28 to October 12.
You can start with a one-time ₹5,000 or set up a SIP for as little as ₹99 per month.
Subscriptions kick off again from October 21.
Mirae Asset fund uses glide path
This fund spreads your money across equities, debt, gold, silver, InvITs, and arbitrage for some serious diversification.
It tracks mostly the Nifty 500 TRI and Nifty Short Duration Debt Index.
The equity portion starts high (65% to 95%) but gradually drops to as low as 5% before maturity, a "glide path" approach to reduce risk over time.
Managed by Harshad Borawake (equities), Basant Bafna (debt), and Ritesh Patel (commodities), there's an exit load if you withdraw in the first three years, starting at 3% in year one.