🧵 1. Mirae Asset Mutual Fund's new fund offer, MN1D, is an ETF for short-term investors, allowing them to park funds for a day to a fortnight. #finance
🧵 1. Mirae Asset Mutual Fund's new fund offer, MN1D, is an ETF for short-term investors, allowing them to park funds for a day to a fortnight. #finance
🧵 2. MN1D invests in safe tri-party repos on govt securities, minimizing credit and interest rate risk. Expect money market returns similar to an overnight fund.
🧵 3. Open-ended liquid funds have yielded returns of 6.42% while overnight funds have yielded 6.11% for the year. MN1D has given 6% returns.
🧵 4. Investors can transact ETF units on stock exchanges using demat accounts, while open-ended schemes require distributors or AMC websites for investment.
🧵 5. MN1D and other liquid ETFs differ from open-ended funds in terms of operational level and usage. Consider your investment goals and preferences before choosing.
🧵 Read more at: https://www.moneycontrol.com/news/business/personal-finance/mirae-asset-mfs-new-etf-designed-for-stock-market-traders-11037221.html