November 12, 2025
RA Jainee
Mirae Asset CRISIL-IBX Financial Services 3-6 Months Debt Index Fund Direct-Growth
Mirae Asset CRISIL-IBX Financial Services 3-6 Months Debt Index Fund Direct – Growth snapshot
| NFO opens on | 12 November 2025 |
| NFO Closes on | 18 November 2025 |
| Min. Investment | Rs. 5000 |
| Plans | Growth, IDCW |
| Sahifund Verdict | A high-quality ultra-short duration NFO investing only in AAA financial-sector CPs, CDs and bonds maturing within 3–6 months. Low credit risk, low volatility, and a strong fund manager make it suitable for short-term surplus. Good for investors seeking safer passive returns slightly above liquid funds. |
⏱️ Last Update: 18 November 2025, 10.00 AM
Table of Contents:
1. NFO Open date, Close date
2. NFO Investment Strategy
3. Basic Details NFO
4. Benchmark Index NFO
5. Fund Manager | Performance Review of Fund Manager
6. Should You Invest in this NFO?
7. Invest Online
What is the Mirae Asset CRISIL-IBX Financial Services 3-6 Months Debt Index Fund Direct-Growth Open Date, Close Date?
NFO opens on November 12, 2025
NFO will close on November 18, 2025
Investment Strategy for this NFO?
The scheme seeks to track the CRISIL-IBX Financial Services 3-6 Months Debt Index by investing in Commercial Papers (CPs), Certificates of Deposit (CDs) and Corporate Bond Securities, maturing in 3-6 months and seeks to generate returns that are commensurate (before fees and expenses) with the performance of the underlying Index, subject to tracking error.
Basic Details
| Fund House | Mirae Asset Mutual Fund |
| Issue Open | 12 November 2025 |
| Issue Close | 18 November 2025 |
| Type | Open-ended |
| Category | Debt: Ultra Short Duration |
| Min. Investment(Rs) | 5,000 |
| Plans | Growth, IDCW |
| Lock-in Period | NA |
| Exit Load | 0 |
| Riskometer | Low to Moderate |
| Benchmark | CRISIL-IBX Financial Services 3 to 6 Months Debt |
About Benchmark Index for this NFO?
“CRISIL-IBX Financial Services 3-6 Months Debt Index” is a constant maturity index that seeks to track the performance of Commercial Papers (CPs), Certificates of Deposit (CDs) & corporate bond securities maturing within 3 to 6 months from the date of inclusion in the index.
Inception date: 10th December 2024
Asset Allocation: 100% CPs, CDs & Bonds.
• The weights between asset classes (CPs, CDs and Bonds) are not fixed and could be different during various review periods based on the availability of securities in the market and may also drift due to price movements in the securities.
Index Duration: The index will have securities maturing in the 3 to 6 months maturity at inception and securities will be reviewed on a set frequency to maintain the steady maturity profile of the index.
Index Construction:
| Parameter | Asset class 1 – CPs, CDs & Bonds |
| Eligibility criteria | • • Issuers in the financial services sector with long term conservative rating of AAA with a minimum amount outstanding of Rs. 1500 crores and having securities (CPs, CDs & Bonds) with residual maturity of 3 to 6 months. |
| • • Minimum security level amount outstanding of Rs. 100 crores. | |
| • Only listed issuers shall be included in the index. An issuer will be considered to be listed if at least one security (CPs or Bonds) of such issuer is listed as evaluated at the inception date of the index. CDs are not listed on the exchanges, and hence all CDs are considered eligible if they meet the remaining criteria. |
Fund Managers of Mirae Asset CRISIL-IBX Financial Services 3-6 Months Debt Index Fund Direct-Growth
1) Basant Bafna
Education: Mr. Bafna has done B.Com, MBA, CS, CA, FRM and CFA
Experience: Prior to joining Mirae Asset Mutual Fund, he has worked with India Exim Bank and Union Bank of India
AMC
Mirae Asset Investment Managers (India) Pvt. Ltd.
Address: Unit No.606 – 6th Floor, Windsor Building – Off. CST Road, Kalina, Santacruz (East), Mumbai – 400098
Website: http://www.miraeassetmf.co.in
Registrar & Transfer Agent
KFin Technologies Ltd.
Address: 303, Vamsee Estates, Opp. Big Bazaar, Ameerpet, Hyderabad – 500016
Website: https://mfs.kfintech.com/mfs/
Review for Mirae Asset CRISIL-IBX Financial Services 3-6 Months Debt Index Fund Direct-Growth @ sahifund.com by Paresh Gordhandas, C.A. & Research Analyst
[ A ] Benchmark Performance of CRISIL-IBX Financial Services 3 to 6 Months Debt
Issuer selection at inception
• All issuers qualifying the eligibility criteria mentioned above will form a part of universe.
• Up to 20 traded issuers from the universe will be ranked and selected based on liquidity. If less than 8 issuers are available, then select remaining issuers (to bring the count to 8) based on the highest amount outstanding from the universe of outstanding securities as evaluated at the inception date of the index. If the number of issuers is still below 8, then all such eligible issuers with securities maturing in the 3 to 6 months residual maturity period will be shortlisted. Count of 8 issuers will be ensured by relaxing amount outstanding criteria first and then the residual maturity criteria i.e., highest amount outstanding issuers or highest residual maturity of issuers will be selected respectively from the outstanding data.
Security selection at inception
• For each selected issuer, the security (CPs/CDs/Bonds) with highest residual maturity maturing in the 3 to 6 months period will be selected from the eligible universe. The selected security must have a minimum amount outstanding of Rs. 100 crores.
No. of constituents:
(1) Maximum: 20
(2) Minimum: 8
Weighing approach:
1. Weights to the issuers will be divided equally as on the base date of the index subject to issuer cap and group cap. Since it’s a sectoral index sector caps are not applicable.
2. Issuers weights should not exceed 15% for AAA rated issuers. Group cap of 25% will be ensured.
3. When any issuer is excluded, the weight of that issuer will be redistributed proportionally amongst the rest of the issuers of the index, subject to issuer & group cap.
⇒ Study about Benchmark Index in details (Page 181 to 182)
√ crisil-indices-methodology-document
Past Performance of Basant Bafna
| Fund | Mirae Asset Ultra Short Duration Fund | It’s Benchmark | Mirae Asset Low Duration Fund | It’s Benchmark |
| 1 Year | 7.35 | 4.67 | 7.30 | 4.67 |
| 3 Year | 7.35 | 4.62 | 7.08 | 4.62 |
| 5 Year | 5.93 | 3.63 | 5.58 | 3.63 |
| 7 Year | — | — | 5.87 | 3.71 |
| 10 Year | — | — | 5.98 | 3.87 |
As on 12-11-2025
[B] Review of Fund Managers
Basant Bafna
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Background: Mr. Bafna has done B.Com, MBA, CS, CA, FRM and CFA, Prior to joining Mirae Asset Mutual Fund, he has worked with India Exim Bank and Union Bank of India
Mirae Asset CRISIL-IBX Financial Services 3–6 Months Debt Index Fund – NFO Review
The Mirae Asset CRISIL-IBX Financial Services 3–6 Months Debt Index Fund aims to track a high-quality short-maturity index built exclusively from AAA-rated issuers in the financial services space. The portfolio will consist of CPs, CDs and short-term corporate bonds maturing strictly within 3–6 months, ensuring very low interest-rate sensitivity. The benchmark methodology is robust, with issuer caps, group caps, and liquidity-based selection, ensuring diversification within this narrow maturity bucket.
This NFO suits investors seeking better-than-liquid-fund returns with controlled volatility and very low credit risk. The fund manager, Basant Bafna, has a strong track record in short-duration debt categories, with consistent outperformance vs benchmark. With no exit load and low-to-moderate risk, this fund fits short-term parking, treasury allocation, and conservative investors seeking stability. However, being an index strategy, returns largely depend on prevailing CP/CD yields, which are currently moderate.
Overall: A good option for 3–6 month surplus money if you prefer passive, high-quality, low-risk debt.
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
Is it good to invest in Mirae Asset CRISIL-IBX Financial Services 3-6 Months Debt Index Fund Direct-Growth NFO?
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