Mirae Asset Equity Savings Fund Direct - Growth
(Scheme Rating)
NAV as of Aug 29, 2024
20.46-0.01%
- Growth - Direct
(Earn upto 0.98% Extra Returns with Direct Plan)
Fund Category:
Hybrid: Equity Savings
Expense Ratio:
0.34%(0.66% Category
average)Fund Size:
Rs. 1,188.86 Cr(3.25% of Investment in Category)
- Invest in MFADD TO PORTFOLIO
Mirae Asset Equity Savings Fund Direct - Growth
(Scheme Rating)
NAV as of Aug 29, 2024
20.46-0.01%
Expense Ratio:
0.34%
Fund Size:
Rs. 1,188.86 Cr
Fund Category:
Hybrid: Equity Savings
1. Current NAV: The Current Net Asset Value of the Mirae Asset Equity Savings Fund - Direct Plan as of Aug 29, 2024 is Rs 20.46 for Growth option of its Direct plan.
2. Returns: Its trailing returns over different time periods are: 19.42% (1yr), 11.75% (3yr), 14.21% (5yr) and 13.38% (since launch). Whereas, Category returns for the same time duration are: 16.41% (1yr), 9.59% (3yr) and 10.42% (5yr).
3. Fund Size: The Mirae Asset Equity Savings Fund - Direct Plan currently holds Assets under Management worth of Rs 1188.86 crore as on Jul 31, 2024.
4. Expense ratio: The expense ratio of the fund is 0.34% for Direct plan as on Aug 01, 2024.
5. Exit Load: Mirae Asset Equity Savings Fund - Direct Plan shall attract an Exit Load, "Exit load of 1% if redeemed within 1 year for units above 15% of the investment."
6. Minimum Investment: Minimum investment required is Rs 5000 and minimum additional investment is Rs 1000. Minimum SIP investment is Rs 500.
Mirae Asset Equity Savings Fund Direct - Growth Returns
Trailing Returns
Rolling Returns
Discrete Period
SIP Returns
1M 3M 6M 1Y 3Y 5Y Annualized Returns 1.17 6.70 9.77 19.39 11.74 14.28 Category Avg 0.83 4.98 7.91 16.25 9.56 10.49 Rank within Category 7 3 6 6 8 3 No. of funds within Category 22 22 22 22 22 22 - Loading...
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Return Comparison
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- BenchmarkKotak Equity Savings Direct-G
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Mirae Asset Equity Savings Fund Direct - Growth Fund Details
Investment Objective - The scheme seeks to provide capital appreciation and income distribution to the investors by using equity and equity related instruments, arbitrage opportunities, and investments in debt and money market instruments.
Fund House | Mirae Asset Mutual Fund |
Launch Date | Dec 17, 2018 |
Benchmark | NIFTY Equity Savings Total Return Index |
Return Since Launch | 13.37% |
Riskometer | Moderately High |
Type | Open-ended |
Risk Grade | Average |
Return Grade | Above Average |
Mirae Asset Equity Savings Fund Direct - Growth 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 Exit load of 1% if redeemed within 1 year for units above 15% of the investment. |
Portfolio Allocation
Equity
Debt
Asset Allocation
Loading...Asset Allocation History
Loading...EquityDebtCashSector Allocation
Loading...Market Cap Allocation
Loading...Concentration & Valuation Analysis
JUL 2024 JUN 2024 MAY 2024 APR 2024 MAR 2024 FEB 2024 Number of Holdings 176 180 176 171 162 156 Top 5 Company Holdings 14.78% 13.71% 13.13% 14.07% 15.15% 15.16% Top 10 Company Holdings 25.03% 25.11% 24.47% 24.56% 26.69% 26.59% Company with Highest Exposure Tata Consultancy (4.67%) HDFC Bank (3.75%) HDFC Bank (3.53%) HDFC Bank (3.74%) HDFC Bank (3.9%) HDFC Bank (3.42%) Number of Sectors 16 15 15 15 15 15 Top 3 Sector Holdings 18.76% 19.34% 18.04% 19.01% 20.48% 20.16% Top 5 Sector Holdings 23.76% 24.37% 23.07% 24.11% 26.41% 25.93% Sector with Highest Exposure Financial (11.31%) Financial (12.62%) Financial (12.02%) Financial (12.7%) Financial (13.59%) Financial (13.42%)
Top Stock Holdings
Sector Holdings in MF
Debt Holdings in Portfolio
Company Sector Assest(%) P/E EPS-TTM(₹) RETURN 1 YR(%) Tata Consultancy Technology 4.67 35.15 129.55 33.64 HDFC Bank Financial 3.21 18.27 89.60 3.03 Reliance Industries Energy 2.31 29.72 101.60 25.68 State Bank of India Financial 2.29 10.55 77.28 41.69 ICICI Bank Financial 1.98 18.65 65.91 26.26 Coal India Materials 1.93 8.85 59.34 129.42 Infosys Technology 1.83 30.28 64.20 36.38 Kotak Mahindra Bank Financial 1.78 16.46 108.21 -0.33 Larsen & Toubro Construction 1.71 38.15 97.11 35.47 Bharti Airtel Communication 1.68 96.53 16.46 83.10
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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 Equity Savings Fund Direct - Growth 20.46 1,188.86 1.21 19.61 11.50 14.26 HSBC Equity Savings Fund Direct-Growth 35.59 406.54 0.55 26.47 13.78 14.69 Kotak Equity Savings Fund Direct-Growth 27.62 6,540.74 1.51 22.87 14.03 13.47 Edelweiss Equity Savings Fund Direct-Growth 25.97 450.33 1.40 18.77 10.81 12.51 UTI Equity Savings Fund Direct - Growth 18.57 441.64 0.92 18.21 12.12 12.67
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.
High Volatality
5.28VS4.48Fund 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.
High Volatality
0.86VS0.70Fund 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.
Moderate risk-adjusted returns
1.12VS1.12Fund 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
6.87VS7.33Fund 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.
Better risk-adjusted returns
1.63VS1.50Fund Vs Category Avg
Mean Return
Mean Return
Average return generated by the fund during a specified period.
Better average monthly returns
11.46VS10.51Fund Vs Category Avg
Risk Ratio Chart
- Risk Ratio
- Category Average
Mirae Asset Mutual Fund News
Fund Manager
- M.K.Mahendra Kumar JajooSince Nov 20183 schemes
- B.S.Bharti SawantSince Dec 20201 schemes
- H.B.Harshad BorawakeSince Oct 20193 schemes
- V.K.Vrijesh KaseraSince Oct 20192 schemes
Mr. Jajoo is a B.Com (H), CS, Chartered Accountant and CFA. Prior to joining Mirae Asset Mutual Fund he was Director with AUM Capital Markets Ltd. and also been associated with organisations like PGIM India Mutual Fund, Tata Asset Management Company, BNP Paribas Asset Management India Pvt. Ltd., ABN Amro Securities India Pvt. Ltd. and ICICI Group.
Scheme Name Category Nav(Rs./Unit) Scheme Rating Asset(Rs. Cr) 1Y Mirae Asset Aggressive Hybrid Fund Direct-Growth Aggressive Hybrid 36.64 9,294.49 30.36 Mirae Asset Nifty SDL June 2028 Index Fund Direct - Growth Target Maturity 11.19 Unrated 77.93 8.65 Mirae Asset Balanced Advantage Fund Direct - Growth Dynamic Asset Allocation 14.04 Unrated 1,691.93 23.33 Ms. Sawant is an M.S. Finance ( ICFAI Hyderabad ), CFA and B.Com. Prior to joining Mirae Asset Mutual Fund, She was associated with Sushil Finance Securities Pvt. Ltd., Latin Manharlal Securities Pvt. Ltd. and Kabu Shares and Stocking Pvt. Ltd. for Financial Analysis and Research.
Scheme Name Category Nav(Rs./Unit) Scheme Rating Asset(Rs. Cr) 1Y Mirae Asset Equity Allocator FoF Direct - Growth Large Cap 25.42 855.21 39.33 Mr. Borawake is MBA(Finance) & B.E.(Polymers) Prior to joining Mirae Asset Mutual Fund, he has worked with Motilal Oswal Securities Ltd. as Vice President and Capmetrics & Risk Solutions Private Ltd. as Research Analyst - Equity.
Scheme Name Category Nav(Rs./Unit) Scheme Rating Asset(Rs. Cr) 1Y Mirae Asset Aggressive Hybrid Fund Direct-Growth Aggressive Hybrid 36.64 9,294.49 30.36 Mirae Asset Multi Asset Allocation Fund Direct - Growth Multi Asset Allocation 11.39 Unrated 1,586.40 - Mirae Asset Balanced Advantage Fund Direct - Growth Dynamic Asset Allocation 14.04 Unrated 1,691.93 23.33 Mr. Kasera is a MBA (Finance), CFA (ICFAI). Prior to joining Mirae Asset Mutual Fund, he was associated with Axis Capital Ltd. as an Equity Research Analyst. He has also been associated with Edelweiss Broking Ltd.
Scheme Name Category Nav(Rs./Unit) Scheme Rating Asset(Rs. Cr) 1Y Mirae Asset Aggressive Hybrid Fund Direct-Growth Aggressive Hybrid 36.64 9,294.49 30.36 Mirae Asset Healthcare Fund Direct - Growth Sectoral-Pharma 42.03 2,560.38 52.11
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 Equity Savings Fund - Direct Plan is Open-ended Equity Savings Hybrid scheme which belongs to Mirae Asset Mutual Fund House.
2. The fund was launched on Dec 17, 2018.
Investment objective & Benchmark
1. The investment objective of the fund is that " The scheme seeks to provide capital appreciation and income distribution to the investors by using equity and equity related instruments, arbitrage opportunities, and investments in debt and money market instruments. "
2. It is benchmarked against NIFTY Equity Savings Total Return Index.
Asset Allocation & Portfolio Composition
1. The asset allocation of the fund comprises around 37.84% in equities, 22.66% in debts and 39.5% in cash & cash equivalents.
2. While the top 10 equity holdings constitute around 23.39% of the assets, the top 3 sectors constitute around 18.76% of the assets.
3. The fund largely follows a Growth oriented style of investing and invests across market capitalisations - around 0.0% in giant & large cap companies, 0.0% in mid cap and 0.0% in small cap companies.
4. 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.
Tax Implications on Mirae Asset Equity Savings Fund Direct - Growth
Hybrid funds which usually invest 65% or more in equity & equity-related instruments will be taxed like Equity funds and those which invest up to 35% in equity & equity-related instruments will be taxed like the new taxation structure of debt funds. Also, the hybrid funds which invest between 35-65% in equity & equity-related instruments will be taxed as per the old taxation structure of debt funds. Generally, tax implications are based on the average asset allocation of the last 12 months in which the fund has invested. However, since the market is dynamic, asset allocation towards equity may increase or decrease depending on the prevailing market & economic conditions. So, the tax treatment of the given fund will vary accordingly and will be determined by its asset allocation. Below are the tax implications from the equity as well as debt side:
For Hybrid funds with 65% and above allocation in equity & equity related instruments:
1. Gains are taxed at a rate of 15% (Short-term Capital Gain Tax - STCG) if units are redeemed within 1 year of investment.
2. For units redeemed after 1 year of investment, gains of up to Rs. 1 lakh accruing from those units in a financial year shall be exempted from tax.
3. Gains of more than Rs. 1 lakh will be taxed at a rate of 10% (Long-term Capital Gain Tax - LTCG).
For Hybrid funds with 35-65% allocation in equity & equity related instruments:
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.
For Hybrid funds with 0-35% allocation in equity & equity related instruments:
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.
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FAQs about Mirae Asset Equity Savings Fund Direct - Growth
- Is it safe to invest in Mirae Asset Equity Savings Fund - Direct Plan?As per SEBI’s latest guidelines to calculate risk grades, investment in the Mirae Asset Equity Savings Fund - Direct Plan comes under Moderately High risk category.
- What is the category of Mirae Asset Equity Savings Fund - Direct Plan?Mirae Asset Equity Savings Fund - Direct Plan belongs to the Hybrid : Equity Savings category of funds.
- How Long should I Invest in Mirae Asset Equity Savings Fund - Direct Plan?The suggested investment horizon of investing into Mirae Asset Equity Savings Fund - Direct Plan is 1 – 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 Equity Savings Fund - Direct Plan?The Mirae Asset Equity Savings Fund - Direct Plan is managed by Mahendra Kumar Jajoo (Since Nov 26, 2018) , Bharti Sawant (Since Dec 28, 2020) , Harshad Borawake (Since Oct 12, 2019) and Vrijesh Kasera (Since Oct 12, 2019).
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