Mirae Asset Corporate Bond Fund Direct-IDCW
(Scheme Rating)
NAV as of Aug 29, 2024
12.110.00%
(Earn upto 0.45% Extra Returns with Direct Plan)
Fund Category:
Debt: Corporate Bond
Expense Ratio:
0.22%(0.32% Category
average)Fund Size:
Rs. 49.41 Cr(0.03% of Investment in Category)
- Invest in MFADD TO PORTFOLIO
Mirae Asset Corporate Bond Fund Direct-IDCW
(Scheme Rating)
NAV as of Aug 29, 2024
12.110.00%
Expense Ratio:
0.22%
Fund Size:
Rs. 49.41 Cr
Fund Category:
Debt: Corporate Bond
1. Current NAV: The Current Net Asset Value of the Mirae Asset Corporate Bond Fund - Direct Plan as of Aug 29, 2024 is Rs 12.11 for IDCW option of its Direct plan.
2. Returns: Its trailing returns over different time periods are: 7.75% (1yr), 5.54% (3yr) and 5.7% (since launch). Whereas, Category returns for the same time duration are: 7.5% (1yr), 5.32% (3yr) and 6.22% (5yr).
3. Fund Size: The Mirae Asset Corporate Bond Fund - Direct Plan currently holds Assets under Management worth of Rs 49.41 crore as on Jul 31, 2024.
4. Expense ratio: The expense ratio of the fund is 0.22% for Direct plan as on Aug 01, 2024.
5. Exit Load: The given fund doesn't attract any Exit Load.
6. Minimum Investment: Minimum investment required is Rs 5000 and minimum additional investment is Rs 1000. Minimum SIP investment is Rs 500.
Mirae Asset Corporate Bond Fund Direct-IDCW Returns
Trailing Returns
Rolling Returns
Discrete Period
SIP Returns
1M 3M 6M 1Y 3Y 5Y Annualized Returns 0.71 2.27 4.29 7.74 5.53 - Category Avg 0.69 2.17 3.95 7.48 5.32 6.23 Rank within Category 15 12 6 16 15 - No. of funds within Category 22 22 22 22 20 19 - Loading...
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Return Comparison
- This Fund
- BenchmarkNippon India Corporate Bond Direct-IDCW
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Mirae Asset Corporate Bond Fund Direct-IDCW Fund Details
Investment Objective - The scheme seeks to provide income and capital appreciation by investing predominantly in AA+ and above rated corporate bonds.
Fund House | Mirae Asset Mutual Fund |
Launch Date | Mar 17, 2021 |
Benchmark | CRISIL Corporate Debt A-II Index |
Return Since Launch | 5.69% |
Riskometer | Moderate |
Type | Open-ended |
Risk Grade | Above Average |
Return Grade | Average |
Mirae Asset Corporate Bond Fund Direct-IDCW Investment Details
Minimum Investment (Rs.) | 5,000.00 |
Minimum Additional Investment (Rs.) | 1,000.00 |
Minimum SIP Investment (Rs.) | 500.00 |
Minimum Withdrawal (Rs.) | - |
Exit Load | 0% |
Portfolio Allocation
Portfolio Aggregates
Fund | 1Y High | 1Y Low | Category | |
---|---|---|---|---|
Modified Duration(Yrs) | 3.88 | 4.1358 | 0.09 | 3.4015 |
Average Maturity(Yrs) | 5.2 | 7.5222 | 0.1 | 4.743 |
Yield to Maturity(%) | 7.51 | 8.04 | 7.09 | 7.4821 |
Avg Credit Rating | High | - | - | - |
Style Box
Investment / Portfolio Grades
Security Type | Weight(%) | Category Avg(%) |
---|---|---|
Government Backed | 18.49 | 27.58 |
Low Risk | 77.91 | 68.10 |
Moderate Risk | - | - |
High Risk | - | - |
Very High Risk | - | - |
Others | 3.60 | 4.32 |
Type of Holdings
Security Type | Weight(%) | Category Avg(%) |
---|---|---|
GOI | 18.48 | 24.98 |
CD | - | 0.10 |
T-Bills | - | 0.18 |
CP | - | - |
NCD & Bonds | 77.92 | 66.95 |
PTC | - | 0.01 |
Cash & Others | 3.59 | 6.74 |
Debt Holding In Portfolio
Instrument | Type | Sector | Rating | Value(Mn) | Total Holding(%) | Quantity |
---|---|---|---|---|---|---|
GOI | Long-term Debt | Sovereign | SOV | 53.14 | 10.75 | - |
7.68% National Bank For Agriculture & Rural Development 30/04/2029 | Long-term Debt | Financial | AAA | 40.20 | 8.14 | 4,00,000 |
7.59% National Housing Bank 08/09/2027 | Long-term Debt | Financial | AAA | 30.09 | 6.09 | 3,00,000 |
7.13% Power Finance Corporation Ltd 15/07/2026 | Long-term Debt | Financial | AAA | 29.76 | 6.02 | 3,00,000 |
6.44% HDFC Bank Ltd 27/09/2028 | Long-term Debt | Financial | AAA | 28.68 | 5.81 | 3,00,000 |
8.04% Bajaj Housing Finance Ltd 18/01/2027 | Long-term Debt | Financial | AAA | 25.05 | 5.07 | 2,50,000 |
5.45% NTPC Ltd 15/10/2025 | Long-term Debt | Energy | AAA | 24.41 | 4.94 | 2,50,000 |
6.85% Mahanagar Telephone Nigam Ltd 20/12/2030 | Long-term Debt | Communication | AAA | 24.13 | 4.88 | 2,50,000 |
7.32% GOI 13/11/2030 | Long-term Debt | Sovereign | SOV | 20.43 | 4.13 | 2,00,000 |
7.9% Jamnagar Utilities and Power Pvt Ltd 10/08/2028 | Long-term Debt | Capital Goods | AAA | 20.10 | 4.07 | 2,00,000 |
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Peer Comparison
Cumulative Returns
SIP returns
Discrete Returns
Quant Measures
Asset Allocation
Scheme Name NAV(Rs./Unit) Scheme Rating AUM(Rs. Cr) 1M 1Y 3Y 5Y Mirae Asset Corporate Bond Fund Direct-IDCW 12.11 49.41 0.75 7.71 5.51 - Nippon India Corporate Bond Fund Direct-IDCW 18.50 3,287.78 0.78 8.23 6.49 7.10 HDFC Corporate Bond Fund Direct Plan-IDCW 18.97 29,726.31 0.77 8.22 6.10 7.09 Axis Corporate Debt Fund Direct-IDCW 13.07 5,511.39 0.77 8.24 6.34 7.45 Tata Corporate Bond Fund Direct - IDCW 11.75 1,669.21 0.76 8.24 - -
Risk Ratios
Ratios are calculated using the calendar month returns for the last 3 years
Standard Deviation
Standard Deviation
Standard deviation is the deviation of the fund's return around mean.
Low Volatality
1.21VS1.24Fund Vs Category Avg
Beta
Beta
Beta shows the portfolio risk in relation to the market. A beta of less than 1 means that the fund returns are less volatile compared to the broader market. A beta of more than 1 means that the fund returns are more volatile than the broader markets. A beta equal to 1 means that fund's volatility is in line with the broader market.
Low Volatality
0.60VS0.62Fund Vs Category Avg
Sharpe Ratio
Sharpe Ratio
Sharpe ratio is a risk adjusted performance measure. A fund with a higher Sharpe ratio is considered better than a fund with a lower Sharpe ratio.
Poor risk-adjusted returns
-0.15VS0.08Fund Vs Category Avg
Treynor's Ratio
Treynor's Ratio
Treynor is a risk adjusted performance measure. A fund with a higher Treynor ratio is considered better than a fund with a lower Treynor ratio.
Poor risk-adjusted returns
-0.31VS0.17Fund Vs Category Avg
Jensen's Alpha
Jensen's Alpha
Alpha shows the ability of the fund manager to outperform the market. A higher Alpha is preferred.
Poor risk-adjusted returns
-0.35VS-0.11Fund Vs Category Avg
Mean Return
Mean Return
Average return generated by the fund during a specified period.
Poor average monthly returns
5.35VS5.59Fund Vs Category Avg
Risk Ratio Chart
- Risk Ratio
- Category Average
Mirae Asset Mutual Fund News
Fund Manager
- A.M.Amit ModaniSince Feb 20246 schemes
Mr. Modani is Chartered Accountant Prior to joining Mirae Asset Mutual Fund, he has worked with BOI AXA Mutual Fund, Quantum Asset Management Company Private Limited and Pramerica Asset Managers Pvt. Ltd.
Scheme Name Category Nav(Rs./Unit) Scheme Rating Asset(Rs. Cr) 1Y Mirae Asset Money Market Fund Direct - IDCW Money Market 1,195.06 180.00 7.75 Mirae Asset Dynamic Bond Fund Direct-IDCW Dynamic Bond 16.49 141.97 7.79 Mirae Asset Multi Asset Allocation Fund Direct - IDCW Multi Asset Allocation 11.39 Unrated 1,586.40 - Mirae Asset Nifty AAA PSU Bond Plus SDL Apr 2026 50:50 Index Fund Direct - IDCW Target Maturity 11.44 Unrated 89.04 7.67 Mirae Asset Nifty SDL Jun 2027 Index Fund Direct - IDCW Target Maturity 11.54 Unrated 802.60 8.29 Mirae Asset CRISIL IBX Gilt Index - April 2033 Index Fund Direct - IDCW Target Maturity 11.80 Unrated 239.66 9.00
More Mirae Asset Mutual Fund
Scheme Name | Rating | Asset Size(Cr) | 1M | 3M | 6M | 1Y | 3Y |
---|---|---|---|---|---|---|---|
Mirae Asset Large Cap Fund Direct- Growth | 37,631.07 | 5.71 | 9.84 | 11.50 | 26.08 | 15.16 | |
Mirae Asset Large & Midcap Fund Direct-Growth | 35,272.60 | 5.52 | 14.15 | 16.95 | 41.47 | 19.71 | |
Mirae Asset ELSS Tax Saver Fund Direct-Growth | 22,620.57 | 5.50 | 13.17 | 16.07 | 37.38 | 19.01 | |
Mirae Asset Midcap Fund Direct - Growth | 15,353.87 | 6.08 | 19.03 | 20.87 | 51.46 | 25.67 | |
Mirae Asset Liquid Fund Direct- Growth | 11,570.11 | 0.61 | 1.88 | 3.77 | 7.38 | 5.80 | |
Mirae Asset Aggressive Hybrid Fund Direct-Growth | 8,563.76 | 5.34 | 9.90 | 12.94 | 27.28 | 15.50 | |
Mirae Asset Focused Fund Direct - Growth | 7,920.31 | 5.13 | 8.25 | 8.42 | 19.79 | 12.36 | |
Mirae Asset Great Consumer Fund Direct-Growth | 3,409.20 | 6.12 | 16.82 | 16.97 | 36.26 | 24.29 | |
Mirae Asset Multicap Fund Direct - Growth | 2,778.68 | 5.40 | 15.27 | 16.92 | - | - | |
Mirae Asset Healthcare Fund Direct - Growth | 2,201.96 | 5.20 | 8.38 | 20.17 | 47.94 | 16.69 |
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1. Mirae Asset Corporate Bond Fund - Direct Plan is Open-ended Corporate Bond Debt scheme which belongs to Mirae Asset Mutual Fund House.
2. The fund was launched on Mar 17, 2021.
Investment objective & Benchmark
1. The investment objective of the fund is that " The scheme seeks to provide income and capital appreciation by investing predominantly in AA+ and above rated corporate bonds. "
2. It is benchmarked against CRISIL Corporate Debt A-II Index.
Asset Allocation & Portfolio Composition
1. The portfolio allocation of debt securities primarily have 2 kinds of risks: interest rate risk & credit risk. While the interest rate movements are driven by the fund's duration, credit quality of debt securities are based on the weighted average credit ratings of a fund. Generally, funds with high credit quality will have the weighted average credit rating of AA- and higher rated securities, funds with medium credit quality will hold securities having credit rating lying between A- to BBB- and funds with low credit quality will hold securities having average credit rating of less than BBB-. Credit rating is a qualitative tool that basically assesses the creditworthiness and financial soundness of a company and takes into consideration several factors including the default rate and solvency of the concerned business entity.
2. The portfolio of the fund has securities with varying levels of maturities. Duration takes into consideration the sensitivity of the average maturity of these securities with respect to the interest rate changes. The Average Maturity of Mirae Asset Corporate Bond Fund - Direct Plan is 5.2 years and Duration is 3.88 years. Generally, securities with high maturity are more sensitive to interest rate changes. So, an investor with a low risk appetite may look to invest in a fund with low maturity and duration vis-a-vis category levels.
3. All these parameters - average maturity, duration, interest rate changes, credit quality, credit rating, liquidity etc. need to be looked at in conjunction with each other to determine the quality of portfolio of a fund.
Tax Implications on Mirae Asset Corporate Bond Fund Direct-IDCW
Capital Gains Tax Implications:
If the investment is made after Apr 1, 2023:
1. The entire amount of gain will be added to the investor's income (irrespective of the period of investment) and will be taxed as per his/her applicable slab rate.
If the investment is made before Apr 1, 2023:
1. If units are redeemed within 3 years of investment, the whole gain will be added to the investor's income and taxed as per his/her applicable slab rate.
2. For units redeemed after 3 years of investment, gains will be taxed at a rate of 20% post-indexation benefits. Indexation is a process of recalculating the purchase price after accounting for inflation into it. The benefit of indexation lies in lowering one's capital gains which brings down the taxable income and thereby reduces taxes on it.
Dividend Tax Implications:
1. For Dividend Distribution Tax, the dividend income from this fund will get added to an investor’s income and taxed according to his/her respective tax slabs.
2. Also, for dividend income more than Rs 5,000 in a financial year; the fund house shall deduct a TDS of 10% on such income.
This Might Catch Your Interest
FAQs about Mirae Asset Corporate Bond Fund Direct-IDCW
- Is it safe to invest in Mirae Asset Corporate Bond Fund - Direct Plan?As per SEBI’s latest guidelines to calculate risk grades, investment in the Mirae Asset Corporate Bond Fund - Direct Plan comes under Moderate risk category.
- What is the category of Mirae Asset Corporate Bond Fund - Direct Plan?Mirae Asset Corporate Bond Fund - Direct Plan belongs to the Debt : Corporate Bond category of funds.
- How Long should I Invest in Mirae Asset Corporate Bond Fund - Direct Plan?The suggested investment horizon of investing into Mirae Asset Corporate Bond Fund - Direct Plan is >3 years. The suggested investment horizon is the minimum time required for holding investments in the fund to reduce its downside risk and ensure that the returns become more predictable.
- Who manages the Mirae Asset Corporate Bond Fund - Direct Plan?The Mirae Asset Corporate Bond Fund - Direct Plan is managed by Amit Modani (Since Feb 01, 2024).
Date Sources: Mutual Funds, ETFs, and NPS data are sourced from Value Research. All times stamps are reflecting IST (Indian Standard Time). By using this site, you agree to the Terms of Service and Privacy Policy.