Mirae Asset Low Duration Fund-IDCW Monthly
(Scheme Rating)
NAV as of Aug 29, 2024
1,087.790.02%
- IDCW Monthly - Regular
(Earn upto 0.60% Extra Returns with Direct Plan)
Fund Category:
Debt: Low Duration
Expense Ratio:
0.86%(0.76% Category
average)Fund Size:
Rs. 1,021.27 Cr(0.85% of Investment in Category)
- Invest in MFADD TO PORTFOLIO
Mirae Asset Low Duration Fund-IDCW Monthly
(Scheme Rating)
NAV as of Aug 29, 2024
1,087.790.02%
Expense Ratio:
0.86%
Fund Size:
Rs. 1,021.27 Cr
Fund Category:
Debt: Low Duration
1. Current NAV: The Current Net Asset Value of the Mirae Asset Low Duration Fund - Regular Plan as of Aug 29, 2024 is Rs 1,087.79 for IDCW Monthly option of its Regular plan.
2. Returns: Its trailing returns over different time periods are: 7.13% (1yr), 5.43% (3yr), 5.34% (5yr) and 6.38% (since launch). Whereas, Category returns for the same time duration are: 7.12% (1yr), 5.8% (3yr) and 5.98% (5yr).
3. Fund Size: The Mirae Asset Low Duration Fund - Regular Plan currently holds Assets under Management worth of Rs 1021.27 crore as on Jul 31, 2024.
4. Expense ratio: The expense ratio of the fund is 0.86% for Regular 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 Low Duration Fund-IDCW Monthly Returns
Trailing Returns
Rolling Returns
Discrete Period
SIP Returns
1M 3M 6M 1Y 3Y 5Y Annualized Returns 0.59 1.87 3.73 7.13 5.44 5.34 Category Avg 0.57 1.82 3.67 7.12 5.80 5.98 Rank within Category 5 4 6 11 17 20 No. of funds within Category 20 20 20 20 20 20 - Loading...
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Return Comparison
- This Fund
- BenchmarkUTI Low Duration Reg-IDCWM
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- Nifty 50
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- 3M
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Mirae Asset Low Duration Fund-IDCW Monthly Fund Details
Investment Objective - The scheme aims to enhance income consistent with a high level of liquidity, through a judicious portfolio mix of money market and debt instruments.
Fund House | Mirae Asset Mutual Fund |
Launch Date | Mar 05, 2008 |
Benchmark | NIFTY Low Duration Debt Index B-I |
Return Since Launch | 6.38% |
Riskometer | Moderate |
Type | Open-ended |
Risk Grade | Average |
Return Grade | Below Average |
Mirae Asset Low Duration Fund-IDCW Monthly Investment Details
Minimum Investment (Rs.) | 5,000.00 |
Minimum Additional Investment (Rs.) | 1,000.00 |
Minimum SIP Investment (Rs.) | 500.00 |
Minimum Withdrawal (Rs.) | 1,000.00 |
Exit Load | 0% |
Portfolio Allocation
Portfolio Aggregates
Fund | 1Y High | 1Y Low | Category | |
---|---|---|---|---|
Modified Duration(Yrs) | 1.05 | 1.08 | 0.5 | 0.8884 |
Average Maturity(Yrs) | 1.19 | 2.69 | 0.59 | 1.234 |
Yield to Maturity(%) | 7.8 | 8.2019 | 7.38 | 7.6603 |
Avg Credit Rating | Average | - | - | - |
Style Box
Investment / Portfolio Grades
Security Type | Weight(%) | Category Avg(%) |
---|---|---|
Government Backed | 17.65 | 12.31 |
Low Risk | 93.73 | 82.87 |
Moderate Risk | - | - |
High Risk | - | - |
Very High Risk | - | - |
Others | -11.38 | 4.83 |
Type of Holdings
Security Type | Weight(%) | Category Avg(%) |
---|---|---|
GOI | 4.62 | 5.92 |
CD | 28.92 | 25.07 |
T-Bills | 11.80 | 5.54 |
CP | 9.60 | 4.72 |
NCD & Bonds | 55.24 | 51.24 |
PTC | - | 0.97 |
Cash & Others | -10.14 | 6.34 |
Debt Holding In Portfolio
Instrument | Type | Sector | Rating | Value(Mn) | Total Holding(%) | Quantity |
---|---|---|---|---|---|---|
Canara Bank | Short-term Debt | Financial | A1+ | 585.08 | 5.73 | 60,00,000 |
Reserve Bank of India | Short-term Debt | Financial | SOV | 538.22 | 5.27 | - |
REC Ltd | Long-term Debt | Financial | AAA | 439.03 | 4.30 | - |
ICICI Bank Ltd | Short-term Debt | Financial | A1+ | 341.34 | 3.34 | 35,00,000 |
7.68% Small Industries Devp Bank of India Ltd 10/09/2027 | Long-term Debt | Financial | AAA | 330.64 | 3.24 | 33,00,000 |
Small Industries Devp Bank of India Ltd | Long-term Debt | Financial | AAA | 317.36 | 3.11 | - |
GOI | Long-term Debt | Sovereign | SOV | 308.22 | 3.02 | 30,00,000 |
National Bank For Agriculture & Rural Development | Long-term Debt | Financial | AAA | 299.60 | 2.93 | - |
7.38% Kotak Mahindra Prime Ltd 20/08/2025 | Long-term Debt | Financial | AAA | 298.18 | 2.92 | 30,00,000 |
Angel One Ltd | Short-term Debt | Financial | A1+ | 297.00 | 2.91 | - |
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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 Low Duration Fund-IDCW Monthly 1,087.79 1,021.27 0.56 7.10 5.44 5.34 Sundaram Low Duration Fund-IDCW Monthly 1,087.80 379.61 0.53 6.81 7.99 6.82 UTI Low Duration Fund Regular Plan-IDCW Monthly 1,306.37 2,849.09 0.58 7.30 7.57 7.04 Axis Treasury Advantage Fund Regular-IDCW Monthly 1,010.08 4,961.63 0.57 7.31 5.85 5.99 HSBC Low Duration Fund-IDCW Monthly 10.35 427.18 0.54 7.27 5.65 5.64
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
0.64VS0.95Fund 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
1.36VS1.13Fund 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
-0.45VS-0.16Fund 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.
Better risk-adjusted returns
-0.21VS-0.80Fund 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
2.49VS2.38Fund Vs Category Avg
Mean Return
Mean Return
Average return generated by the fund during a specified period.
Poor average monthly returns
5.25VS5.61Fund Vs Category Avg
Risk Ratio Chart
- Risk Ratio
- Category Average
Mirae Asset Mutual Fund News
Fund Manager
- B.B.Basant BafnaSince Feb 20240 schemes
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
No schemes for the Fund Manager
More Mirae Asset Mutual Fund
Scheme Name | Rating | Asset Size(Cr) | 1M | 3M | 6M | 1Y | 3Y |
---|---|---|---|---|---|---|---|
Mirae Asset Large Cap Fund Regular- Growth | 37,631.07 | 5.61 | 9.56 | 10.95 | 24.84 | 13.99 | |
Mirae Asset Large & Midcap Fund Regular-Growth | 35,272.60 | 5.43 | 13.88 | 16.40 | 40.15 | 18.55 | |
Mirae Asset ELSS Tax Saver Fund Regular-Growth | 22,620.57 | 5.41 | 12.89 | 15.50 | 36.03 | 17.68 | |
Mirae Asset Midcap Fund Regular - Growth | 15,353.87 | 5.98 | 18.70 | 20.20 | 49.81 | 24.17 | |
Mirae Asset Liquid Fund - Growth | 11,570.11 | 0.60 | 1.85 | 3.72 | 7.27 | 5.70 | |
Mirae Asset Aggressive Hybrid Fund Regular-Growth | 8,563.76 | 5.21 | 9.53 | 12.18 | 25.59 | 13.92 | |
Mirae Asset Focused Fund Regular - Growth | 7,920.31 | 5.02 | 7.93 | 7.78 | 18.40 | 10.96 | |
Mirae Asset Great Consumer Fund Regular-Growth | 3,409.20 | 5.99 | 16.39 | 16.13 | 34.29 | 22.42 | |
Mirae Asset Multicap Fund Regular - Growth | 2,778.68 | 5.26 | 14.84 | 16.05 | - | - | |
Mirae Asset Nifty 50 ETF - Growth | 2,388.15 | 5.14 | 7.29 | 10.67 | 26.32 | 15.80 |
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1. Mirae Asset Low Duration Fund - Regular Plan is Open-ended Low Duration Debt scheme which belongs to Mirae Asset Mutual Fund House.
2. The fund was launched on Mar 05, 2008.
Investment objective & Benchmark
1. The investment objective of the fund is that " The scheme aims to enhance income consistent with a high level of liquidity, through a judicious portfolio mix of money market and debt instruments. "
2. It is benchmarked against NIFTY Low Duration Debt Index B-I.
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 Low Duration Fund - Regular Plan is 1.19 years and Duration is 1.05 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 Low Duration Fund-IDCW Monthly
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 Low Duration Fund-IDCW Monthly
- Is it safe to invest in Mirae Asset Low Duration Fund - Regular Plan?As per SEBI’s latest guidelines to calculate risk grades, investment in the Mirae Asset Low Duration Fund - Regular Plan comes under Moderate risk category.
- What is the category of Mirae Asset Low Duration Fund - Regular Plan?Mirae Asset Low Duration Fund - Regular Plan belongs to the Debt : Low Duration category of funds.
- How Long should I Invest in Mirae Asset Low Duration Fund - Regular Plan?The suggested investment horizon of investing into Mirae Asset Low Duration Fund - Regular Plan is 6 months – 1 year. 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 Low Duration Fund - Regular Plan?The Mirae Asset Low Duration Fund - Regular Plan is managed by Basant Bafna (Since Feb 01, 2024).
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