Mirae Asset Large Cap mutual fund has underperformed peers, benchmark since 2022; what should investors do?
Synopsis
We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.
By ET Bureau
ET Wealth collaborates with Value Research to analyse top mutual funds. We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.
DATE OF LAUNCH
4 APRIL 2008
CATEGORY
EQUITY
TYPE
LARGE CAP
AUM*
BENCHMARK
RETURN INDEX
WHAT IT COSTS
NAV**
GROWTH OPTION
IDCW
Rs.29.27
MINIMUM INVESTMENT
MINIMUM SIP AMOUNT
Rs.500
1.53
EXIT LOAD
1% for redemption within 365 days
*AS ON 31 MAY 2024
**AS ON 25 JUNE 2024
#AS ON 31 MAY 2024
FUND MANAGER
GAURAV MISRA
5 YEARS, 4 MONTHS
Recent portfolio changes
New entrants
Bharti Hexacom, Oil & Natural Gas Corporation, Tata Motors, Vedanta (April). Cipla, Macrotech Developers, R R Kabel (May).
Complete exits
Britannia Industries, ICICI Lombard General Insurance Comapny, Krishna Institute of Medical Sciences, Mphasis, Polycab India, The Federal Bank, Titan Company (April).
Should You Buy
This once high-flying fund has faltered in recent years with its growth-focused investment style getting routed amid the market’s shift towards value stocks. The fund has sharply underperformed both its index and peers since 2022. This has punctured its impressive longer-term track record of consistent outperformance. While the fund’s preference for high quality remains, it continues to have representation of ideas from the value and cyclicals segment. The latter is being reinforced selectively. The fund needs to find its feet quickly to arrest the drag on its return profile. Investors may want to monitor the fund for a turnaround before putting incremental money in it.
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BASIC FACTSDATE OF LAUNCH
4 APRIL 2008
CATEGORY
TYPE
LARGE CAP
AUM*
Invest and Earn on ET Money - Get up to 9.5% p.a. returns
Rs.37,631 croreBENCHMARK
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NIFTY 100 TOTALRETURN INDEX
WHAT IT COSTS
NAV**
GROWTH OPTION
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Rs.105.38IDCW
Rs.29.27
MINIMUM INVESTMENT
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Rs.5,000MINIMUM SIP AMOUNT
Rs.500
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EXPENSE RATIO# (%)1.53
EXIT LOAD
1% for redemption within 365 days
*AS ON 31 MAY 2024
**AS ON 25 JUNE 2024
#AS ON 31 MAY 2024
FUND MANAGER
GAURAV MISRA
5 YEARS, 4 MONTHS
Recent portfolio changes
New entrants
Bharti Hexacom, Oil & Natural Gas Corporation, Tata Motors, Vedanta (April). Cipla, Macrotech Developers, R R Kabel (May).
Complete exits
Britannia Industries, ICICI Lombard General Insurance Comapny, Krishna Institute of Medical Sciences, Mphasis, Polycab India, The Federal Bank, Titan Company (April).
Should You Buy
This once high-flying fund has faltered in recent years with its growth-focused investment style getting routed amid the market’s shift towards value stocks. The fund has sharply underperformed both its index and peers since 2022. This has punctured its impressive longer-term track record of consistent outperformance. While the fund’s preference for high quality remains, it continues to have representation of ideas from the value and cyclicals segment. The latter is being reinforced selectively. The fund needs to find its feet quickly to arrest the drag on its return profile. Investors may want to monitor the fund for a turnaround before putting incremental money in it.