The Mirae Asset Mid Cap Fund is a diversified equity mutual fund launched on July 29, 2019. It is an established fund with an AUM of Rs 15353.87 Cr.
Table of Contents
Fund Objective
Mirae Asset Mid Cap Fund aims to invest in high-quality mid-cap companies, that have the potential to be tomorrow’s large caps.
The fund aims to identify emerging companies that could benefit from strong earnings growth and P/E rerating.
Investment Strategy
The fund invests predominantly (>65%) in midcap equity and equity related instruments (101st -250th company in terms of full market capitalization).
The fund may also participate in other Indian equities based on factors like relative valuations, liquidity, and market sentiments.
Overall portfolio strategy is based on a bottom-up approach while identifying relative risk-reward on individual stocks. The fund managers have considered a two-prong approach to investing in the midcap space. First is to consider high-quality businesses and second is to participate in “deep in value” businesses
Diversified portfolio with participation across sectors.
Fund Manager – ANKIT JAIN (Since Inception) B. Tech (ICT), MBA (FINANCE)
Mr. Ankit Jain has professional experience of more than 10 years, and his primary responsibility includes Investment Analysis & Fund Management. He had joined the AMC as a Research Analyst since September 7, 2015. He was previously associated with Equirus Securities Pvt Ltd. and Infosys Ltd.
Mirae Asset Midcap Fund – Details
The fund has 97.7% investment in domestic equities of which 16.54% is in Large Cap stocks, 42.77% is in Mid Cap stocks, 12.71% in Small Cap stocks.
Index -NIFTY Midcap 150 (TRI)
Scheme Inception date – July 29, 2019
Type : Open Ended Fund. You can invest any time in this fund.
Minimum Investment – (one time- first time) – ₹5000
Minimum SIP -₹1000
Min investment amount (addtional purchase) – ₹1000
Exit Load-1.00%: If units are Redeemed or Switched Out within 1 year (365 days) from the date of allotment.
Nil after 1 year (365 Days).
Expense Ratio– 1.68%
Should you consider buying?
The fund has given 21.64% in last 3 years, a 27.93% return since inception. If we look at the risk ratios, the standard deviation and beta are in the range. But other risk ratios are negative as per moneycontrol stats. The other funds in midcap segment are giving better returns as compared to the Mirae Asset Midcap fund. Additionally, as of June 2024, the fund could not beat the index.
In my opinion, one should choose some other fund in the midcap segment. If you are keen to invest in Mirae funds, you can consider Mirae Asset Nifty MidSmall cap 400 momentum quality 100 ETF FOF – Review ( Detailed). ( Disclaimer: It is not an investment advice. Please consult with your Financial Advisor before taking any investment decision.
