Mirae Asset Mutual Fund nav and scheme details
Mirae Asset Financial Group is an important player in the Asian financial market and has its headquarters in Seoul, South Korea. It is the parent company of Mirae Asset Global Investments. Mirae Asset Global investments handle Mirae Asset Mutual Fund.
Mirae Asset Mutual Fund is currently present in over 14 countries across 5 continents. Mirae Asset Mutual Fund started its overseas operations in 2005 in South Korea. And within 2 years they expanded their base to India (November 2007) and the UK.
Mirae Asset Mutual Fund also happens to be one of the fastest-growing mutual funds in the country. From managing only 51,304 portfolios in 2013, they went on to manage more than 11 lakh portfolios by 2018, in a span of just 5 years. The fund house offers 38 different schemes for investors to choose from.
Mirae Asset Mutual Fund Schemes
Here are some of the more popular funds and their scheme details.
Mirae Asset Large Cap Funds
Mirae Asset Large Cap Fund predominantly invests in large-sized companies. The presence of large-cap companies ensures that the fund value does not erode during market fluctuations. On the other hand, they might not be able to offer returns like a small-cap or medium cap fund might.
More than 80% of the investments in Mirae Asset Large Cap Funds are towards large-cap stocks, along with some in the medium cap. The fund is ideal for someone who is looking at a minimum of a three-year time frame and wants to build wealth.
You can either invest in Mirae asset large-cap fund direct growth or regular growth fund. If you invest in Mirae asset large-cap fund direct growth fund, you stand to benefit from lower expense ratio and lower overall costs.
The expense ratio of the fund is 1.59% for regular funds and 0.53% for direct funds. You will end up paying an exit load of 1% should you redeem any units within a year of investing in the fund.
Mirae Asset Emerging Bluechip
Mirae Asset Emerging Bluechip fund invests in both large-cap stocks and mid-cap stocks. The fund managers invest between 35-65% in large-cap stocks, essentially the top 100 companies based on their market capitalisation.
The fund invests the remaining 35-65% in medium cap stocks. Companies that are in the top 250 based on their market capitalisation, baring the top 100 ones. The strategy of the fund is to identify stocks that might become blue-chip companies of the future. They use a bottom-up approach for deciding the stocks.
The expense ratio of the fund is 1.66% for the regular funds and 0.68% for the direct funds. The Mirae asset emerging bluechip fund follows the Nifty Large Midcap 250 benchmark. The fund aims at creating wealth for you if held for a minimum duration of 3 years.
You will end up paying 1% as the exit load if you choose to redeem any units within a year of investing in the fund.
Mirae Asset Tax Saver
Mirae asset tax saver invests in a diversified portfolio of stocks. The fund falls under the category of ELSS or Equity Linked Savings Scheme. This means that the fund has a statutory lock in period of 3 years. If you are planning to withdraw your funds within 3 years, this fund might not be the best option.
Since it is an ELSS fund, Mirae asset tax saver helps you save taxes as well. Any amount that you invest in the fund up to INR 1.5 lakhs per year helps you reduce your net taxable income under Section 80C.
The plan has the flexibility to invest in different themes, market capitalisation and investment styles. Thereby helping you make the most of the market conditions.
The expense ratio of the fund is 1.69% for the regular funds and 0.43% for the direct funds. And the fund has had an impressive return of 20.74% since its inception.
Mirae Asset Short Term Fund
Mirae Asset Short Term Fund invests in instruments that have a maturity period between 1 to 3 years. This Mirae mutual fund follows an accrual strategy in debt instruments. The fund aims at generating better returns than fixed deposits and government bonds.
The expense ratio of this Mirae mutual fund is 1.15% for the regular funds and 0.33% for the direct funds. The fund has returned 6.9% over a three year period. You can either opt for a growth plan or an IDCW plan. In a growth plan, the fund reinvests any capital generated back in the fund. You can also opt for regular payouts.
Mirae asset mutual fund nav changes daily at the end of the market closure. Tracking Mirae asset mutual fund nav and investing can be a bit cumbersome. Investing via SIP or a systematic investment plan will help you make the most of rupee value averaging. It also helps you get better nav value in a fluctuating market.