September 15, 2022
mayank
Mirae Asset Ultra Short Duration Fund
NAV Growth : Rs 1,078.3658
NAV IDCW : Rs 1,078.4400
Suitable For Which Investors ?
“Ultra-short Duration debt funds predominantly invest in bonds maturing in three to six months. They aim to earn slightly better returns over liquid funds but with a marginally higher degree of volatility.
They are suitable to park the amount you have set aside to meet any emergency needs or any surplus money that you don’t need for the next six months up to 1-1.5 years. Investors who want to avoid the complexity of wading through the very finely classified categories of debt funds can simply give these funds a miss and stick to liquid funds for this investing need. But those, who want slightly better returns and can withstand a little more volatility, can consider ultra-short duration funds.
The risk of incurring a loss in these funds over the said timeframe is low but they do not guarantee returns or safety of capital. Remember, they are geared to earn slightly better returns than what you can get from a bank account or a short duration fixed deposit, but are not suitable to build wealth in the long run.”
Fund’s Investment Strategy :
The scheme seeks to generate regular income and provide liquidity by investing primarily in a portfolio comprising of debt & money market instruments.
Fund Manager :
1) 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) : | — |
| 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 : | 08-Oct-20 |
| Return Since Launch : | 3.98% |
| Benchmark : | NIFTY Ultra Short Duration Debt Index B-I |
| Riskometer : | Low to Moderate |
| Type : | Open-ended |
| Assets : | Rs 229 Cr |
| (As on 31-Aug-2022) | |
| Expense Ratio : | 0.28% |
| (As on 31-Jul-2022) | |
| Risk Grade : | Below Average |
| Return Grade : | Average |
Mirae Asset Ultra Short Duration Fund Trailing Returns (%)
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Mirae Asset Ultra SD Dir | 3.05 | -0.01 | 0.49 | 1.33 | 2.27 | 4.12 | — | — | — | — |
| CCIL T Bill Liquidity Weight | 1.48 | 0 | 0.19 | 0.75 | 1.1 | 2.06 | — | — | — | — |
| Debt: Ultra Short Duration | 2.97 | 0 | 0.49 | 1.37 | 2.2 | 4.14 | — | — | — | — |
| Rank within category | 10 | 22 | 18 | 20 | 9 | 10 | — | — | — | — |
| Number of funds in category | 26 | 26 | 26 | 26 | 26 | 26 | 21 | 13 | 13 | 0 |
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 Ultra SD Dir | 4 star | 4.12 | — | — | 0.28 | 229 | 3.98 | — | 1yrs 11mo |
| ICICI Pru Ultra ST Dir | 5 star | 4.37 | 5.82 | 6.72 | 0.39 | 14,808 | 8.17 | — | 9yrs 8mo |
| ABSL Svngs Dir | 4 star | 4.19 | 5.47 | 6.44 | 0.34 | 14,508 | 7.79 | — | 9yrs 8mo |
| Kotak Svngs Dir | 4 star | 4.12 | 5.03 | 6.15 | 0.36 | 13,862 | 7.45 | — | 9yrs 8mo |
| HDFC Ultra ST Dir | 4 star | 3.99 | 5.16 | — | 0.34 | 13,462 | 6.1 | — | 3yrs 11mo |
Portfolio Breakup
| Fund | Category | |
| Number of Securities | 25 | 43 |
| Modified Duration (yrs) | 0.30 | 0.34 |
| Average Maturity (yrs) | 0.31 | 0.38 |
| Yield to Maturity (%) | 5.99 | 6.08 |
| Avg Credit Rating | AAA | — |
Mirae Asset Ultra Short Duration Fund by Chanakya :
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