Mirae Tax Saver Fund Summary
Established on 28 Dec, 2015, this is Equity Linked saving scheme (ELSS) with an aim to invest in equity instrument having major exposure to financial and software sectors to save tax and attain benefit under Section 80C of the Income Tax Act, 1961. It is open ended scheme with 3 years lock-in period. It is suitable for long-term capital appreciation.
Mirae Asset Mutual Fund Tax Saver Objectives
This scheme is to generate long term capital appreciation from a diversified portfolio of predominantly equity and equity related instruments. The scheme does not guarantee or assure any returns.
Mirae Assets Tax Saver Funds Benefits
- Lower Expense ratio
- Consistent performer
- Moderately High
|Cash & Cash equivalent||1.39%|
Top 10 Holding (as on 30th April 2020)
|HDFC Bank Ltd.||9.82%|
|Reliance Industries Ltd.||7.76%|
|ICICI Bank Ltd.||5.06%|
|Axis Bank Ltd.||4.58%|
|Tata Consultancy Services Ltd.||3.64%|
|Larsen & Toubro Ltd.||3.2%|
|Housing Development Finance Corporation Ltd.||3.14%|
|State Bank Of India||2.9%|
|Tata Consumer Products Ltd.||2.53%|
Mirae Asset Tax Saver Fund Performance
Despite not having a long track history, this scheme has beaten its benchmark since inception (Dec, 2015).
Returns since inception (Compounded Annualized)
Benchmark: S&P BSE 200 (TRI) : 5.29%
Additional Benchmark: S&P BSE Sensex (TRI): 7.47%
Performance (As on 30th April, 2020)
|Period||Fund Return||Benchmark Return|
According to the respective fund house, the scheme is unbiased to particular theme/style which gives diversified approach. It has flexibility to invest across market capitalization, them and investment style. The investment approach is bottoms up driven by value investing, in growth-oriented businesses. The fact sheet reveals that the portfolio will comprise of companies having a robust business model and enjoying sustainable competitive advantage with high return ratios.
It provides flexibility to invest across market capitalization, theme and investment styles. It has a diversified portfolio of strong growth companies at reasonable price. The investment approach is bottoms up approach: driven by value investing, in growth-oriented businesses.
Minimum Investment Lumpsum – 500
Minimum Lumpsum – 500
Asset Size -2670 Cr
Exit Load – NA
Category – ELSS (Multi-Cap)
Fund Type – Open Ended
Since inception, the fund is managed by Neelesh Surana. He is B.E (Mechanical) & MBA in finance. He also manages other funds like Mirae Asset India Equity Fund (since May 2008) & Mirae Asset Emerging Bluechip Fund (since Inception in July, 2010).
Risk Measures (As on 30th April, 2020)
Benchmark Index: S&P BSE 200 (TRI)
Net AUM: ₹ 3,184 Cr
Expense Ratio: Regular Plan- 1.80% & Direct Plan- 0.25%
Entry Load: NA
Exit Load: NA
Portfolio Turnover: 81%
NAV (in Rs)*As per fund fact sheet 30th April, 2020
Growth Option: Direct Plan- 16.823 & Regular Plan- 15.805
Dividend Option: Direct Plan- 14.044 & Regular Plan- 12.670
Investment Risk: Moderately High
Minimum Investment Lumpsum: 500
Minimum Lumpsum: 500
Mirae Assets Tax Saver Fund has large-cap & mid-cap orientation with diversified portfolio. Banking and financials, consumer durable’s and information technology are the top themes the fund operates on. This scheme has shown consistently good performance without taking undue risks. This is a good fund to invest in the tax-saving category as it a good performer in both benchmarks and peer category.
Mirae Asset Mutual Fund Tax Saver has AUM of Rs 34477 Crores and is currently holding 19 Lakh folios. It has a monthly SIP book of Rs 417 Crores. Mirae Assets Tax Saver Funds is an open ended ELSS Fund with a 3-year lock in period. The fund aims to invest in equity and equity related instruments across market capitalization, themes and investment styles with an aim to generate long term appreciation and provide tax savings under section 80C of the Income Tax Act.
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