Mirae Asset Money Market Fund Direct - IDCW
(Scheme Rating)
NAV as of Jun 28, 2024
1,179.560.05%
(Earn upto 0.34% Extra Returns with Direct Plan)
Fund Category:
Debt: Money Market
Expense Ratio:
0.23%(0.23% Category
average)Fund Size:
Rs. 144.98 Cr(0.08% of Investment in Category)
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Mirae Asset Money Market Fund Direct - IDCW
(Scheme Rating)
NAV as of Jun 28, 2024
1,179.560.05%
Expense Ratio:
0.23%
Fund Size:
Rs. 144.98 Cr
Fund Category:
Debt: Money Market
1. Current NAV: The Current Net Asset Value of the Mirae Asset Money Market Fund - Direct Plan as of Jun 28, 2024 is Rs 1,179.56 for IDCW option of its Direct plan.
2. Returns: Its trailing returns over different time periods are: 7.53% (1yr) and 5.96% (since launch). Whereas, Category returns for the same time duration are: 7.13% (1yr), 5.7% (3yr) and 5.7% (5yr).
3. Fund Size: The Mirae Asset Money Market Fund - Direct Plan currently holds Assets under Management worth of Rs 144.98 crore as on May 31, 2024.
4. Expense ratio: The expense ratio of the fund is 0.23% for Direct plan as on Jun 22, 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 1000.
Mirae Asset Money Market Fund Direct - IDCW Returns
Trailing Returns
Rolling Returns
Discrete Period
SIP Returns
1M 3M 6M 1Y 3Y 5Y Annualized Returns 0.56 1.81 3.85 7.53 - - Category Avg 0.53 1.71 3.66 7.13 5.70 5.70 Rank within Category 8 10 12 10 - - No. of funds within Category 23 23 23 22 18 15 - Loading...
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Return Comparison
- This Fund
- BenchmarkEdelweiss Money Market Direct-IDCW
Choose from Benchmarks
- S&P BSE Sensex
- Nifty 50
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- 3M
- 6M
- 1Y
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Mirae Asset Money Market Fund Direct - IDCW Fund Details
Investment Objective - The scheme seeks to generate reasonable returns with low risk and provide liquidity by investing in money market instruments.
Fund House | Mirae Asset Mutual Fund |
Launch Date | Aug 11, 2021 |
Benchmark | NIFTY Money Market Index B-I |
Return Since Launch | 5.96% |
Riskometer | Moderate |
Type | Open-ended |
Risk Grade | - |
Return Grade | Below Average |
Mirae Asset Money Market Fund Direct - IDCW Investment Details
Minimum Investment (Rs.) | 5,000.00 |
Minimum Additional Investment (Rs.) | 1,000.00 |
Minimum SIP Investment (Rs.) | 1,000.00 |
Minimum Withdrawal (Rs.) | - |
Exit Load | 0% |
Portfolio Allocation
Portfolio Aggregates
Fund | 1Y High | 1Y Low | Category | |
---|---|---|---|---|
Modified Duration(Yrs) | 0.66 | 0.88 | 0.0753 | 0.6082 |
Average Maturity(Yrs) | 0.66 | 0.88 | 0.0753 | 0.627 |
Yield to Maturity(%) | 7.62 | 7.81 | 6.55 | 7.55 |
Avg Credit Rating | Low | - | - | - |
Style Box
Investment / Portfolio Grades
Security Type | Weight(%) | Category Avg(%) |
---|---|---|
Government Backed | 10.98 | 13.38 |
Low Risk | 87.84 | 84.23 |
Moderate Risk | - | - |
High Risk | - | - |
Very High Risk | - | - |
Others | 1.18 | 2.39 |
Type of Holdings
Security Type | Weight(%) | Category Avg(%) |
---|---|---|
GOI | - | - |
CD | 65.46 | 57.81 |
T-Bills | 9.33 | 8.77 |
CP | 16.42 | 24.45 |
NCD & Bonds | - | - |
PTC | - | - |
Cash & Others | 8.78 | 8.98 |
Debt Holding In Portfolio
Instrument | Type | Sector | Rating | Value(Mn) | Total Holding(%) | Quantity |
---|---|---|---|---|---|---|
Axis Bank Ltd | Short-term Debt | Financial | A1+ | 123.24 | 8.50 | 13,00,000 |
Kotak Mahindra Bank Ltd | Short-term Debt | Financial | A1+ | 113.37 | 7.82 | 12,00,000 |
ICICI Bank Ltd | Short-term Debt | Financial | A1+ | 96.33 | 6.64 | 10,00,000 |
Punjab National Bank | Short-term Debt | Financial | A1+ | 95.22 | 6.57 | 10,00,000 |
Union Bank of India | Short-term Debt | Financial | A1+ | 94.71 | 6.53 | 10,00,000 |
HDFC Bank Ltd | Short-term Debt | Financial | A1+ | 94.67 | 6.53 | 10,00,000 |
Infina Finance Pvt Ltd | Short-term Debt | Financial | A1+ | 86.19 | 5.95 | 9,00,000 |
Bank Of Baroda | Short-term Debt | Financial | A1+ | 85.59 | 5.90 | 9,00,000 |
Indian Bank | Short-term Debt | Financial | A1+ | 85.02 | 5.86 | 9,00,000 |
Canara Bank | Short-term Debt | Financial | A1+ | 66.04 | 4.56 | 7,00,000 |
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 Money Market Fund Direct - IDCW 1,179.56 144.98 0.56 7.53 - - Edelweiss Money Market Fund Direct-IDCW 27.06 461.79 0.56 7.35 5.71 6.14 Bajaj Finserv Money Market Fund Direct-IDCW 1,073.91 Unrated 2,145.10 0.55 - - -
Risk Ratios
Ratios are calculated using the calendar month returns for the last 3 years
Risk Ratio data not available for this fund
Mirae Asset Mutual Fund News
Fund Manager
- A.M.Amit ModaniSince Sep 20236 schemes
Mr. Modani is Chartered Accountant Prior to joining Mirae Asset Mutual Fund, he has worked with BOI AXA Mutual Fund, Quantum Asset Management Company Private Limited and Pramerica Asset Managers Pvt. Ltd.
Scheme Name Category Nav(Rs./Unit) Scheme Rating Asset(Rs. Cr) 1Y Mirae Asset Corporate Bond Fund Direct-IDCW Corporate Bond 11.90 47.08 6.95 Mirae Asset Dynamic Bond Fund Direct-IDCW Dynamic Bond 16.23 152.53 6.99 Mirae Asset Multi Asset Allocation Fund Direct - IDCW Multi Asset Allocation 11.01 Unrated 1,447.55 - Mirae Asset Nifty AAA PSU Bond Plus SDL Apr 2026 50:50 Index Fund Direct - IDCW Target Maturity 11.27 Unrated 92.60 7.17 Mirae Asset Nifty SDL Jun 2027 Index Fund Direct - IDCW Target Maturity 11.34 Unrated 798.39 7.30 Mirae Asset CRISIL IBX Gilt Index - April 2033 Index Fund Direct - IDCW Target Maturity 11.55 Unrated 228.24 7.53
More Mirae Asset Mutual Fund
Scheme Name | Rating | Asset Size(Cr) | 1M | 3M | 6M | 1Y | 3Y |
---|---|---|---|---|---|---|---|
Mirae Asset Large Cap Fund Direct- Growth | 37,631.07 | 5.71 | 9.84 | 11.50 | 26.08 | 15.16 | |
Mirae Asset Large & Midcap Fund Direct-Growth | 35,272.60 | 5.52 | 14.15 | 16.95 | 41.47 | 19.71 | |
Mirae Asset ELSS Tax Saver Fund Direct-Growth | 22,620.57 | 5.50 | 13.17 | 16.07 | 37.38 | 19.01 | |
Mirae Asset Midcap Fund Direct - Growth | 15,353.87 | 6.08 | 19.03 | 20.87 | 51.46 | 25.67 | |
Mirae Asset Liquid Fund Direct- Growth | 11,570.11 | 0.61 | 1.88 | 3.77 | 7.38 | 5.80 | |
Mirae Asset Aggressive Hybrid Fund Direct-Growth | 8,563.76 | 5.34 | 9.90 | 12.94 | 27.28 | 15.50 | |
Mirae Asset Focused Fund Direct - Growth | 7,920.31 | 5.13 | 8.25 | 8.42 | 19.79 | 12.36 | |
Mirae Asset Great Consumer Fund Direct-Growth | 3,409.20 | 6.12 | 16.82 | 16.97 | 36.26 | 24.29 | |
Mirae Asset Multicap Fund Direct - Growth | 2,778.68 | 5.40 | 15.27 | 16.92 | - | - | |
Mirae Asset Healthcare Fund Direct - Growth | 2,201.96 | 5.20 | 8.38 | 20.17 | 47.94 | 16.69 |
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1. Mirae Asset Money Market Fund - Direct Plan is Open-ended Money Market Debt scheme which belongs to Mirae Asset Mutual Fund House.
2. The fund was launched on Aug 11, 2021.
Investment objective & Benchmark
1. The investment objective of the fund is that " The scheme seeks to generate reasonable returns with low risk and provide liquidity by investing in money market instruments. "
2. It is benchmarked against NIFTY Money Market 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 Money Market Fund - Direct Plan is 0.66 years and Duration is 0.66 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 Money Market Fund Direct - IDCW
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.
FAQs about Mirae Asset Money Market Fund Direct - IDCW
- Is it safe to invest in Mirae Asset Money Market Fund - Direct Plan?As per SEBI’s latest guidelines to calculate risk grades, investment in the Mirae Asset Money Market Fund - Direct Plan comes under Moderate risk category.
- What is the category of Mirae Asset Money Market Fund - Direct Plan?Mirae Asset Money Market Fund - Direct Plan belongs to the Debt : Money Market category of funds.
- How Long should I Invest in Mirae Asset Money Market Fund - Direct Plan?The suggested investment horizon of investing into Mirae Asset Money Market Fund - Direct Plan is <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 Money Market Fund - Direct Plan?The Mirae Asset Money Market Fund - Direct Plan is managed by Amit Modani (Since Sep 15, 2023).
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