September 15, 2022
mayank
Mirae Asset Savings Fund
NAV Growth : Rs 2,002.9631
NAV IDCW Weekly : Rs 1,454.3849
NAV IDCW Quarterly : Rs 1,011.9394
NAV IDCW Monthly : Rs 1,163.3879
Suitable For Which Investors ?
“Low Duration debt funds invest in bonds maturing in six months to a year. They aim to earn slightly better returns than what you can get from a bank account or a short duration fixed deposit. The risk of incurring a loss in these funds is negligible but they do not guarantee returns or safety of capital. Retail investors can avoid these funds altogether. Here’s why. Debt funds are very finely classified depending upon the maturity of the bonds they invest in. For instance, there’s a different category of funds that invests in bonds of up to three months maturity, from the one that invests in bonds maturing in three to six months, and so on. We believe that such a nuanced classification adds little value to retail investors. They can avoid this complexity and simply invest the money they don’t need for up to a year in a Liquid fund.”
Fund’s Investment Strategy :
The scheme aims to enhance income consistent with a high level of liquidity, through a judicious portfolio mix of money market and debt instruments.
Fund Manager :
1) Kruti Chheta
Education : Ms. Chheta has done BAF (Finance and Accounts) and MBA (Finance).
Experience : Prior to joining Chheta, she has worked with A K Capital Services Ltd., Shriram Wealth Advisors Ltd. and Birla wealth management.
2) Mahendra Kumar Jajoo
Education : Mr. Jajoo is a B.Com (H), CS, Chartered Accountant and CFA.
Experience : Prior to joining Mirae Asset Mutual Fund he was Director with AUM Capital Markets Ltd. and also been associated with organisations like PGIM India Mutual Fund, Tata Asset Management Company, BNP Paribas Asset Management India Pvt. Ltd., ABN Amro Securities India Pvt. Ltd. and ICICI Group.
Investment Details
| Min. Investment (Rs) : | 5,000 |
| Min. Addl Investment (Rs) : | 1,000 |
| Min. SIP Investment (Rs) : | 1,000 |
| Min. Withdrawal (Rs) : | 1,000 |
| Min. No of Cheques : | 5 |
| Min. Balance (Rs) : | — |
| Lock-in Period : | NA |
| Exit Load : | 0 |
Basic Details
| Fund House : | Mirae Asset Mutual Fund |
| Launch Date : | 01-Jan-13 |
| Return Since Launch : | 6.93% |
| Benchmark : | NIFTY Low Duration Debt Index B-I |
| Riskometer : | Low to Moderate |
| Type : | Open-ended |
| Assets : | Rs 697 Cr |
| (As on 31-Aug-2022) | |
| Expense Ratio : | 0.30% |
| (As on 31-Jul-2022) | |
| Risk Grade : | Average |
| Return Grade : | Below Average |
Mirae Asset Savings Fund Trailing Returns (%)
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Mirae Asset Svngs Dir | 2.92 | -0.02 | 0.55 | 1.62 | 2.2 | 3.83 | 5.11 | 5.83 | 6.31 | — |
| CCIL T Bill Liquidity Weight | 1.48 | 0 | 0.19 | 0.75 | 1.1 | 2.06 | 2.56 | 3.25 | 3.6 | — |
| Debt: Low Duration | 2.88 | -0.01 | 0.56 | 1.54 | 2.13 | 4.41 | 5.84 | 5.81 | 6.56 | — |
| Rank within category | 9 | 18 | 8 | 6 | 8 | 11 | 20 | 14 | 15 | — |
| Number of funds in category | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 21 | 0 |
Mirae Asset Savings Fund Peer Comparison
| Fund name | Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age |
| Mirae Asset Svngs Dir | 2 star | 3.83 | 5.11 | 5.83 | 0.30 | 697 | 6.93 | — | 9yrs 8mo |
| ABSL Low Duration Dir | 5 star | 4.37 | 6.16 | 6.99 | 0.39 | 12,456 | 8.09 | — | 9yrs 8mo |
| Nippon Ind Low Duration Dir | 4 star | 4.21 | 6.11 | 6.5 | 0.38 | 7,771 | 7.70 | — | 9yrs 8mo |
| Kotak Low Duration Dir | 4 star | 3.87 | 6.13 | 6.98 | 0.42 | 6,960 | 8.03 | — | 9yrs 8mo |
| Axis Treasury Advtg Dir | 4 star | 3.98 | 5.61 | 6.67 | 0.24 | 5,440 | 7.75 | — | 9yrs 8mo |
Portfolio Breakup
| Fund | Category | |
| Number of Securities | 41 | 56 |
| Modified Duration (yrs) | 0.68 | 0.64 |
| Average Maturity (yrs) | 0.74 | 0.96 |
| Yield to Maturity (%) | 6.48 | 6.45 |
| Avg Credit Rating | AAA | — |
Mirae Asset Savings Fund by Chanakya :
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