Mirae Asset Tax Saver Fund (Growth)

Mirae Asset Tax Saver Fund- Growth is an open-ended equity-linked savings scheme with a mandatory lock-in period of 3 years and a tax deduction. An equity-linked savings scheme provides long-term capital appreciation and growth along with tax saving under Direct Taxes. The fund maintains a diversified portfolio of strong companies at reasonable prices across different industries and sectors. The fund follows an investment strategy of investing across market capitalization, theme, and investment styles. The scheme follows a bottom-up investment approach which is driven by value investing in growth and appreciation-focused business models. 

As of 1st July 2021, the fund has invested 98.26% of its assets in equity securities and 1.74% of its assets in other instruments. Moreover, of its 98.26% of equity holdings the fund has an investment of 71.30% in large-cap companies. Due to the nature of the fund, the lock-in period is 3 years. Hence, an investor seeking long-term growth and tax saving may consider investing in this fund. The fund is managed by Mr. Neelesh Surana

Mirae Asset Tax Saver Fund- Growth Investment 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 Mirae Asset Tax Saver Fund- Growth provides a dual benefit of long-term growth and tax savings. The fund predominantly invests its corpus in equity and equity-linked securities to ensure the growth of capital. An investor can claim a tax deduction of up to Rs 1.5 lakh under section 80C of the Income Tax Act, 1961 by investing in ELSS. 

The fund focuses on investing in companies that have delivered visible and sustainable earning growth in the long term. The AMC follows selection criteria which are based on a company’s large market opportunity, sustainable competitive advantages, ROI, and corporate governance & thought leadership.

Mirae Asset Tax Saver Fund- Growth Scheme Details

On 28th December 2015, Mirae Asset Mutual Fund had launched Mirae Asset Tax saver Fund-Growth. With an existence of over 6 years, the fund continues to provide growth opportunities as well as capital appreciation.

NAV and Returns – The NAV of the fund as of 1st July 2021 is Rs 103.91. The risk-o-meter of the fund is very high risk. Hence, an investor must understand that their principal amount of investment will be at very high risk. Since its inception, Mirae Asset Taxsaver Fund-Growth has delivered a return of 20.60%.

Minimum Investment – For a SIP investment, the fund mandates a minimum SIP investment of Rs 500. To make a lump sum investment an investor must invest a minimum amount of Rs 500.

Expense Ratio and Exit Load – The fund charges an expense ratio of 2.14% on the units of the mutual funds at the NAV. The fund does not charge an exit load.

Fund Manager – Since its inception, the fund is managed by Mr. Neelesh Surana. Mr. Neelesh Surana comes with a wide experience of 26 years in equity research and portfolio management. Currently, Mr. Surana is the Chief Investment Officer at Mirae Asset Investment Managers (India) Private Limited. Being the Chief Investment Officer, Mr. Surana leads the research and fund management function

Other Details – Being an ELSS fund, the fund has a mandatory 3 year lock-in period from the date on which investment is made. Any redemption of any units of the fund is not allowed during this 3 year lock-in period. As of 1st July 2021, the AUM of Mirae Asset Taxsaver Fund- Growth is Rs 7,940 cr. The fund benchmarks to IISL Nifty 200 TR INR and aims to beat the benchmark through a bottom-up investment approach and selection of large-cap companies.

Mirae Asset Taxsaver Fund- Growth Top Stock Holdings

The Mirae Asset Taxsaver Fund-Growth has invested its assets majorly in the stocks of the following companies:

Asset Allocation of Mirae Asset Taxsaver Fund- Growth

The Mirae Asset Taxsaver Fund-Growth has invested in the following sectors:

Mirae Asset Taxsaver Fund- Growth Review

Mirae Asset Taxsaver Fund-Growth is recommended by Scripbox within the equity-linked tax saving mutual fund category. Equity-Linked Tax saving mutual funds are designed to help you save taxes while offering the opportunity for growth and appreciation in line with equity returns.  

1. With an existence of over 8 years, the fund has a relatively moderate history for analysis of the fund. 
2. With an AUM or relative size of Rs 7,940 cr, the fund is a leader w.r.t. size within the tax-saving mutual fund’s category.
3. Over a period of time, the funds performed well by providing benchmark beating returns. 

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