Tax saving funds provides tax saving with inflation beating growth over the long term and is suitable for investment objectives with duration of 10-15 years or longer (minimum 5 years).
₹ 13,148 Cr
The fund has been a Category Leader on the Fund Size metric
The fund has been a Category Leader on the Outperformance Consistency metric
View all 7 analysis
Save tax combined with inflation beating long term growth. Invest in Scripbox Recommended Tax Saver Funds to unlock the best of both worlds - tax saving and long term wealth creation.?
NAV (Oct 4)
6 Month CAGR
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.
Launched (7y ago)
Dec 28, 2015
AUM in Crores
IISL Nifty 500 TR INR
with step up of
|Instrument||Returns||Total Corpus||Gains||Annualised %|
Disclaimer: Products compared like fixed deposits may provide fixed guaranteed returns. Mutual Funds investments are subject to market risk, read all scheme related documents carefully before investing. Past performance is not an indicator of future returns.
hdfc bank ltd7.8%
icici bank ltd7.1%
reliance industries ltd5.9%
axis bank ltd4.6%
|Fund Name||Fund Size||Outperformance Consistency|
₹ 4,638 cr
₹ 10,218 cr
₹ 14,940 cr
₹ 10,218 cr
₹ 14,940 cr
Mirae Asset Global Inv (India) Pvt. Ltd
Mirae Asset Investment Managers (India) Private Limited manages assets worth 111,352 crores and was set up on 20 November 2006. It's current offering of mutual fund schemes includes 29 equity,36 debt and 9 hybrid funds.
|Fund Name||Scripbox Opinion||Till Date CAGR|
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 capitalisation, 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 3rd April 2022, the fund has invested 99.6% of its assets in equity securities and 0.4% of its assets in other instruments. Moreover, of its 99.6% of equity holdings the fund has a major investment 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.
The scheme aims to provide long-term capital appreciation from a diversified portfolio. The dynamic diversification is maintained through equity and equity-related instruments across different sectors, market capitalization, and companies.
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.
On 28th December 2015, Mirae Asset Mutual Fund had launched Mirae Asset Tax saver Fund-Growth. With an existence of over 7 years, the fund continues to provide growth opportunities as well as capital appreciation.
Mirae Asset Tax Saver 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.
The fund holds a good rank on the basis of average 1 year rolling return – 23.69% and average 3 years rolling return – 20.91%. Returns were calculated based on 1 year and 3 years rolling returns rolled monthly for the last 4 years. Trailing returns have a recency bias and point to point returns are specific to the period in consideration. Rolling returns, on the other hand, measures the fund’s absolute and relative performance across all timescales, without bias. The fund is ranked 2 based on the quarterly outperformance count in the category. Out of 16 quarters the fund has outperformed the category average 12 times.
The fund has the highest information ratio in the category. The information ratio is used to evaluate the skill of a portfolio manager at generating returns more than a given benchmark. With the AUM value of 10802.01 Cr. The fund is in the top 5 in the category.
|Asset Allocation as per Asset Type (Equity vs Debt)||Weightage|
|Debt & Cash||0.40%|
|Sector||Percentage of Holding|
Mirae Asset Tax Saver Fund (Growth) is a better investment option for an investor whose aim is to create wealth and appreciation. The fund is best suited for an investment period of minimum 5 years. Moreover, due to the lock-in period of 3 years the investor cannot withdraw before the maturity of the scheme. Hence, the fund is not suitable for a short term goal. Additionally, ELSS provides a tax benefit up to Rs 1.5 lakhs in a financial year. However, the tax benefit must not be sole criteria while evaluating the suitability of the scheme.
Mirae Asset Tax Saver Fund (Growth) has a risk meter of very high risk. Hence, before investing an investor must understand that the principal amount will be at a very high risk.
The expense ratio on Mirae Asset Tax Saver Fund (Growth) for a regular plan is 1.80%. The expense ratio for the direct plan is 0.55%.