Mirae Asset Liquid Fund-IDCW Monthly
(Scheme Rating)
NAV as of Aug 30, 2024
1,153.130.02%
- IDCW Monthly - Regular
(Earn upto 0.10% Extra Returns with Direct Plan)
Fund Category:
Debt: Liquid
Expense Ratio:
0.20%(0.27% Category
average)Fund Size:
Rs. 11,964.74 Cr(1.73% of Investment in Category)
- Invest in MFADD TO PORTFOLIO
Mirae Asset Liquid Fund-IDCW Monthly
(Scheme Rating)
NAV as of Aug 30, 2024
1,153.130.02%
Expense Ratio:
0.20%
Fund Size:
Rs. 11,964.74 Cr
Fund Category:
Debt: Liquid
1. Current NAV: The Current Net Asset Value of the Mirae Asset Liquid Fund as of Aug 30, 2024 is Rs 1,153.13 for IDCW Monthly option of its Regular plan.
2. Returns: Its trailing returns over different time periods are: 7.33% (1yr), 5.94% (3yr), 5.21% (5yr) and 6.26% (since launch). Whereas, Category returns for the same time duration are: 7.12% (1yr), 5.81% (3yr) and 5.05% (5yr).
3. Fund Size: The Mirae Asset Liquid Fund currently holds Assets under Management worth of Rs 11964.74 crore as on Jul 31, 2024.
4. Expense ratio: The expense ratio of the fund is 0.2% for Regular plan as on Aug 01, 2024.
5. Exit Load: Mirae Asset Liquid Fund shall attract an Exit Load, "Exit load of 0.0070% if redeemed within 1 day, 0.0065% if redeemed within 2 days, 0.0060% if redeemed within 3 days, 0.0055% if redeemed within 4 days, 0.0050% if redeemed within 5 days, 0.0045% if redeemed within 6 days."
6. Minimum Investment: Minimum investment required is Rs 5000 and minimum additional investment is Rs 1000. Minimum SIP investment is Rs 500.
Mirae Asset Liquid Fund-IDCW Monthly Returns
Trailing Returns
Rolling Returns
Discrete Period
SIP Returns
1M 3M 6M 1Y 3Y 5Y Annualized Returns 0.58 1.76 3.64 7.33 5.95 5.21 Category Avg 0.56 1.70 3.51 7.12 5.82 5.05 Rank within Category 11 7 9 11 11 10 No. of funds within Category 46 44 43 42 38 37 - Loading...
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Return Comparison
- This Fund
- BenchmarkAxis Liquid Reg-IDCWM
Choose from Benchmarks
- S&P BSE Sensex
- Nifty 50
- 1M
- 3M
- 6M
- 1Y
- 5Y
Mirae Asset Liquid Fund-IDCW Monthly Fund Details
Investment Objective - The investment objective of the scheme is to seek to generate returns linked to short end rates like MIBOR and CBLO etc. and provide higher liquidity by investing in a portfolio of debt and money market instruments.
Fund House | Mirae Asset Mutual Fund |
Launch Date | Jan 12, 2009 |
Benchmark | NIFTY Liquid Index B-I |
Return Since Launch | 6.26% |
Riskometer | Low to Moderate |
Type | Open-ended |
Risk Grade | - |
Return Grade | Above Average |
Mirae Asset Liquid 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 Exit load of 0.0070% if redeemed within 1 day, 0.0065% if redeemed within 2 days, 0.0060% if redeemed within 3 days, 0.0055% if redeemed within 4 days, 0.0050% if redeemed within 5 days, 0.0045% if redeemed within 6 days. |
Portfolio Allocation
Portfolio Aggregates
Fund | 1Y High | 1Y Low | Category | |
---|---|---|---|---|
Modified Duration(Yrs) | 0.13 | 0.1908 | 0.0002 | 0.1142 |
Average Maturity(Yrs) | 0.13 | 0.205 | 0.03 | 0.1189 |
Yield to Maturity(%) | 7.07 | 8.21 | 5.25 | 7.0378 |
Avg Credit Rating | Low | - | - | - |
Style Box
Investment / Portfolio Grades
Security Type | Weight(%) | Category Avg(%) |
---|---|---|
Government Backed | 17.99 | 21.17 |
Low Risk | 84.94 | 78.38 |
Moderate Risk | - | - |
High Risk | - | - |
Very High Risk | - | - |
Others | -2.94 | 0.45 |
Type of Holdings
Security Type | Weight(%) | Category Avg(%) |
---|---|---|
GOI | - | 0.01 |
CD | 31.06 | 28.84 |
T-Bills | 18.00 | 21.20 |
CP | 53.49 | 45.90 |
NCD & Bonds | 0.42 | 3.50 |
PTC | - | - |
Cash & Others | -2.93 | 0.56 |
Debt Holding In Portfolio
Instrument | Type | Sector | Rating | Value(Mn) | Total Holding(%) | Quantity |
---|---|---|---|---|---|---|
Union Bank of India | Short-term Debt | Financial | A1+ | 4,205.48 | 3.51 | - |
Reserve Bank of India | Short-term Debt | Financial | SOV | 3,861.14 | 3.23 | - |
HDFC Bank Ltd | Short-term Debt | Financial | A1+ | 2,976.53 | 2.49 | - |
Reserve Bank of India | Short-term Debt | Financial | SOV | 2,981.19 | 2.49 | - |
National Housing Bank | Short-term Debt | Financial | A1+ | 2,984.60 | 2.49 | - |
Reserve Bank of India | Short-term Debt | Financial | SOV | 2,793.44 | 2.33 | - |
Reserve Bank of India | Short-term Debt | Financial | SOV | 2,490.61 | 2.08 | 2,50,00,000 |
Reserve Bank of India | Short-term Debt | Financial | SOV | 2,487.50 | 2.08 | 2,50,00,000 |
HDFC Bank Ltd | Short-term Debt | Financial | A1+ | 2,474.30 | 2.07 | - |
Punjab National Bank | Short-term Debt | Financial | A1+ | 2,473.43 | 2.07 | - |
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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 Liquid Fund-IDCW Monthly 1,153.13 11,964.74 0.58 7.33 5.95 5.21 Axis Liquid Fund Regular-IDCW Monthly 1,002.01 27,339.16 0.58 7.37 5.99 5.25 Canara Robeco Liquid Regular Plan-IDCW Monthly 1,000.41 3,779.35 0.58 7.35 5.97 5.09 UTI Liquid Regular Plan-IDCW Monthly 1,050.11 26,266.30 0.58 7.32 5.96 5.20 Union Liquid Fund-IDCW Monthly 1,001.40 4,309.48 0.58 7.34 5.97 5.23
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
0.47VS0.46Fund 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
0.91VS0.92Fund 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.
Better risk-adjusted returns
0.37VS0.08Fund 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.
Better risk-adjusted returns
0.19VS0.04Fund 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
2.03VS1.91Fund Vs Category Avg
Mean Return
Mean Return
Average return generated by the fund during a specified period.
Better average monthly returns
5.71VS5.57Fund Vs Category Avg
Risk Ratio Chart
- Risk Ratio
- Category Average
Mirae Asset Mutual Fund News
Fund Manager
- A.I.Abhishek IyerSince Dec 20201 schemes
Mr. Iyer is a B. Com, Master in Finance management, Master of Arts (MA) Economics Prior to joining Mirae Asset Mutual Fund, he has worked with IDBI Mutual Fund, IIFL Mutual Fund, L&T Mutual Fund and Sahara Mutual Fund.
Scheme Name Category Nav(Rs./Unit) Scheme Rating Asset(Rs. Cr) 1Y Mirae Asset Overnight Fund Regular-IDCW Monthly Overnight 1,000.70 1,214.67 6.75
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 Liquid Fund is Open-ended Liquid Debt scheme which belongs to Mirae Asset Mutual Fund House.
2. The fund was launched on Jan 12, 2009.
Investment objective & Benchmark
1. The investment objective of the fund is that " The investment objective of the scheme is to seek to generate returns linked to short end rates like MIBOR and CBLO etc. and provide higher liquidity by investing in a portfolio of debt and money market instruments. "
2. It is benchmarked against NIFTY Liquid 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 Liquid Fund is 0.13 years and Duration is 0.13 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 Liquid 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 Liquid Fund-IDCW Monthly
- Is it safe to invest in Mirae Asset Liquid Fund?As per SEBI’s latest guidelines to calculate risk grades, investment in the Mirae Asset Liquid Fund comes under Low to Moderate risk category.
- What is the category of Mirae Asset Liquid Fund?Mirae Asset Liquid Fund belongs to the Debt : Liquid category of funds.
- How Long should I Invest in Mirae Asset Liquid Fund?The suggested investment horizon of investing into Mirae Asset Liquid Fund is <3 month. 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 Liquid Fund?The Mirae Asset Liquid Fund is managed by Abhishek Iyer (Since Dec 28, 2020).
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