Rating: ★ ★ ★ ★ ★

Mirae Asset Tax Saver Fund -Direct Plan-Dividend Payout

Equity

  

ELSS Fund

NAV

12.744 -0.112

as on (22 May, 2020)

RETURNS

1.87 %

Fund Type

Open Ended

Investment Plan

Dividend Payout

Expense Ratio

0.25 %

Benchmark

S&P BSE 200 India TR INR

Asset Size

3184.25 Cr.

(As of 30 Apr, 2019)

Risk

Moderately High

Objective

The investment objective of the scheme is to generate long term capital appreciation from a diversified portfolio of predominantly equity and equity related instruments. The Scheme does not guarantee or assure any returns.

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Fund manager

Neelesh Surana

(since 28 Dec, 2015)

Exit load

N / A

Minimum sip

₹ 500

minimum investment

₹ 500

Top Holdings

This fund is been allocated in various sectors including some of the prominent ones that are widely accepted and are creating a value of trust.

Company

Assets

HDFC Bank Ltd

8.62 %

Reliance Industries Ltd

5 %

ICICI Bank Ltd

4.76 %

Axis Bank Ltd

4.08 %

Sector Allocation

About the Scheme Type

ELSS Fund

ELSS or Equity Linked Saving Schemes can help you with a two-fold benefit of saving your taxes and growing your money. ELSSare open-ended Equity Mutual Funds, investments in which qualify for tax exemptions under section 80C of the Income Tax Act of 1961. The scheme invests at least 80% of its total assets in equity and equity-linked instruments and comes with a mandatory lock-in period of 3 years. Returns from ELSS investments over and above 1 lac rupees are subject to LTCG (Long-Term Capital Gains) Tax at 10%.

Given that these funds are passively managed, it also reduces the expense ratio and other fees making them cost efficient.

Ratings

This fund is rated 5 stars by Morning Star Ratings.

★ ★ ★ ★ ★

Overview of Mirae Asset Global Inv (India) Pvt. Ltd

Mirae Asset was founded in 1997 in the wake of the Asian financial crisis with a vision of and dedication to serving clients in a way to help them build wealth for life with proven investment strategies. As on 12th March 2019, Mirae Asset Management’s AUM (Assets under Management) had crossed the important threshold of Rs 25,000 Cr (Rs 22,000 in equity and Rs 3,100 in debt), witnessing a growth of over 50% in calendar year 2018.

  • Mirae Asset Global Investments (India) Pvt. Ltd. was established in India, in November 2007, with a seed capital of US$ 50 million

  • Mirae Asset Mutual Fund is sponsored by Mirae Asset Global Investments Co. Limited, South Korea

  • Mirae Asset present in India as a Foreign Institutional Investor (FII) since 2004

  • Mirae Asset Global Investments India provides advisory services to Hong Kong & Korean offices

  • Mix of domestic and international businesses providing stable growth for Mirae Asser India business