Mirae Asset Large & Mid cap mutual fund scheme returned 38.79% in one year; should you invest?
investment decision.
BASIC FACTS
DATE OF LAUNCH
7 SEPTEMBER 2010
CATEGORY
EQUITY
TYPE
LARGE & MIDCAP
AUM*
Rs.33,295 crore
BENCHMARK
NIFTY LARGE MIDCAP 250
TOTAL RETURN INDEX
WHAT IT COSTS
NAV**
GROWTH OPTION
Rs.131.08
IDCW**
Rs.47.02
MINIMUM INVESTMENT
Rs.5,000
MINIMUM SIP AMOUNT
Rs.500
EXPENSE RATIO# (%)
1.56
EXIT LOAD
1% for redemption within 365 days
*AS ON 31 JAN 2024
**AS ON 5 MAR 2024
#AS ON 29 FEB 2024
FUND MANAGER
ANKIT JAIN /NEELESH SURANA (PIC)
5 YEARS, 1 MONTH /13 YEARS, 9 MONTHS
Recent portfolio changes
New entrants
Container Corporation of India, Indian Bank, One 97 Communications (Dec). Indus Towers, NHPC (Jan).
Complete exits
Apollo Hospitals Enterprise (Dec). Ipca Labs, Krishna Institute of Medical Sciences, Torrent Pharmaceuticals (Jan).
Should You Buy
This large- and mid-cap fund is currently finely balanced in its allocation towards large caps and the broader segment comprising mid and small caps. The latter’s presence has seen a rise in recent years. The fund portfolio has also grown in size to around 80 stocks. The fund continues to be run with emphasis on quality and growth at a reasonable price approach. After years of consistently clocking outperformance vis-a-vis the index, the fund witnessed a blip in 2022. Although it managed to get back on its feet last year, it continues to lag behind many of its peers. The fund managers have used the recent market upheaval to fine-tune processes internally and bring more resilience to the portfolio.
