Mirae Asset CRISIL-IBX Financial Services 9-12 Months Debt Index Fund - NFO Details

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Last Updated: 17th June 2025 - 02:17 pm

4 min read

The Mirae Asset CRISIL-IBX Financial Services 9-12 Months Debt Index Fund is a new fund offer (NFO) launched by Mirae Asset Investment Managers (India) Private Limited. It is an open-ended debt index fund that aims to track the CRISIL-IBX Financial Services 9-12 Months Debt Index. The fund will invest in Commercial Papers (CPs), Certificates of Deposit (CDs), and Corporate Bond Securities with maturities between 9 and 12 months. It is categorised as a low-to-moderate risk investment.

Key Features of Mirae Asset CRISIL-IBX Financial Services 9-12 Months Debt Index Fund

  • Opening Date: June 17, 2025
  • Closing Date: June 23, 2025
  • Exit Load: -Nil-
  • Minimum Investment: ₹5,000
  • Benchmark Index: CRISIL-IBX Financial Services 9-12 Months Debt Index

Objective of Mirae Asset CRISIL-IBX Financial Services 9-12 Months Debt Index Fund

The investment objective of Mirae Asset CRISIL-IBX Financial Services 9-12 Months Debt Index Fund-Dir(G) is to track the CRISIL-IBX Financial Services 9-12 Months Debt Index by investing in Commercial Papers (CPs), Certificates of Deposit (CDs) and Corporate Bond Securities, maturing in 9-12 months and seeks to generate commensurate returns (before fees and expenses) with the performance of the underlying Index, subject to tracking error.  There is no assurance that the investment objective of the Scheme will be achieved.

Investment Strategy of Mirae Asset CRISIL-IBX Financial Services 9-12 Months Debt Index Fund

The Scheme follows a passive investment strategy. The Scheme seeks to track the CRISIL-IBX Financial Services 9-12 Months Debt Index, subject to tracking error. Accordingly, the Scheme will invest in Commercial Papers (CPs), Certificates of Deposit (CDs) and Corporate Bond Securities, maturing in 9-12 months.

The portfolio of eligible securities invested by the Scheme is expected to have, in aggregate, fundamental characteristics such as modified duration, weighted average maturity, aggregate credit ratings, aggregate Yield to Maturity (YTM) etc., along with other liquidity parameters in line with CRISIL-IBX Financial Services 9-12 Months Debt Index.

The Macaulay Duration of Scheme shall replicate the duration of the index, in line with SEBI Master Circular, subject to a maximum permissible deviation of +/- 10%.

The AMC uses a ‘‘passive’’ approach to try and achieve the Scheme’s investment objective. Unlike other Fund, the Scheme does not try to ‘‘beat’’ the markets. The AMC does not make any judgments about the investment merit of a particular instrument or a particular industry segment nor will it attempt to apply any economic, financial or market analysis.

Subject to the Regulations and the applicable guidelines, the Scheme may invest in the schemes of Mutual Funds. The investment strategy shall be in line with the asset allocation mentioned under “Section II (c): How will the Scheme allocate its assets”.

Though every endeavour will be made to achieve the objective of the Scheme, the AMC/Sponsors/Trustee does not guarantee that the investment objective of the Scheme will be achieved. No guaranteed returns are being offered under the Scheme.

Risks Associated with Mirae Asset CRISIL-IBX Financial Services 9-12 Months Debt Index Fund

Some of the specific risk factors related to the Scheme include, but are not limited to, the following:

  • Passive Investments: As the scheme proposes to invest not less than 95% of the net assets in the securities of the benchmark Index, the Scheme will not be actively managed. The Scheme may be affected by a general decline in the Indian markets relating to its Underlying Index. The Scheme invests in the securities included in its underlying index regardless of their investment merit. The AMC does not attempt to individually select securities or to take defensive positions in declining markets.
  • Tracking Difference Risk: Tracking difference is the annualised difference of daily returns between the Index and the NAV of the Index Fund. The annualised tracking difference averaged over one year shall not exceed 1.25%. In case the average annualised tracking difference over one year for Debt ETFs/ Index Funds is higher than 1.25%, the same shall be brought to the notice of the trustees with corrective actions taken by the AMC, if any.   

Other factors involved:  

  • Risk Factors associated with the Scheme 
  • Risks Associated with Debt & Money Market Instruments 
  • Risk associated with investing in Mutual Fund units 
  • Risks Associated with Government Securities 
  • Risks associated with a segregated portfolio 
  • Risks associated with investing in Tri-Party Repo through CCIL (TREPS), Risk associated with transacting through email.

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Risk Mitigation Strategy by Mirae Asset CRISIL-IBX Financial Services 9-12 Months Debt Index Fund

  • The Scheme, being a Target Duration structure, is expected to replicate the index in a passive manner. Based on that, we expect to mitigate intermittent price volatility in the underlying assets.
  • The Scheme intends to invest in G-Sec securities which carry sovereign guarantee and hence no credit risk.
  • The Scheme being passively managed and a Target Duration structure, is expected to replicate the index in a passive manner. However, this will continue to expose investor to relatively higher interest rate risk because the scheme intends to invest in on the run 10 Year G-Sec security as identified by the index provider.
  • The index intends to invest in a single paper representing the highest outstanding and liquidity in the Indian debt market.
  • The Scheme intends to invest in G-Sec. These bonds are perceived to be relatively safe.
  • The scheme is passively managed.

What Type of Investor Should Invest in Mirae Asset CRISIL-IBX Financial Services 9-12 Months Debt Index Fund?

The Mirae Asset CRISIL-IBX Financial Services 9-12 Months Debt Index Fund is best suited for:

Conservative or short-term investors who seek:

  • Low-risk exposure to debt securities from the financial sector
  • Better returns than liquid funds with slightly higher risk
  • Investment horizon of 9–12 months
  • Predictable returns with minimal interest rate volatility

Ideal for parking funds temporarily or as part of a debt allocation strategy within a diversified portfolio.

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