Mirae Asset ELSS Tax Saver Fund Direct Growth

Equity
Direct
Elss (Tax Savings)
Mirae Asset ELSS Tax Saver Fund Direct Growth

About the Fund

Mirae Asset Tax Saver Fund is a tax saving mutual fund which also helps in growing your wealth.

Investing in this fund allows you to claim deductions under Section 80C of the Income Tax Act, 1961, which can help you reduce your taxable income by up to Rs. 1.5 lakhs per year.

The fund also acts like a multi-cap, multi-sector fund, which means that it invests in the stocks of various companies across different sectors. This diversification helps reduce the risk of losses and ensures that your investment is spread out across different industries.

Key Parameters

  1. Mirae Asset ELSS Tax Saver Fund Direct Growth has ₹24346 Cr worth of assets under management (AUM) as on Jun 2024 and is more than category average.
  2. The fund has an expense ratio 0.6.

Returns

Mirae Asset ELSS Tax Saver Fund Direct Growth has given a CAGR return of 21.43% since inception. Over the last 1, 3 and 5 years the fund has given a CAGR return of 36.80%, 19.29% and 23.76% respectively.

Holdings

Mirae Asset ELSS Tax Saver Fund Direct Growth has allocated its funds majorly in Cash Equivalent, Financial Services, Consumer Cyclical, Industrial, Tech, Health, Basic Materials, Energy, Communication, Consumer Defensive, Utilities, Real Estate. Its top holdings are HDFC Bank Ltd, Axis Bank Ltd, ICICI Bank Ltd, Reliance Industries Ltd, Infosys Ltd

Taxation

As it is a elss (tax savings) mutual fund the taxation is as follows:
For short term (less than a year) capital gains will be taxed at 15%
For long term (more than 1 year) capital gains will be taxed at 10% without indexation benefit
Dividends will always be taxed at slab rate. Gains upto Rs 1 lakh are exempt in case of long term.

Investment objective of Mirae Asset ELSS Tax Saver Fund Direct Growth

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.

Minimum Investment and lockin period

Minimum investment for lump sum payment is INR 500.00 and for SIP is INR 500.00. There is a lock in period for Mirae Asset ELSS Tax Saver Fund Direct Growth of 3 Years

Fund Performance
zero opening, trading, fund transfer fee
49670 people have invested ₹ 20.9Cr in Mirae Asset ELSS Tax Saver Fund Direct Growth in the last three months

INDmoney Rank

Powered by IND quant engine
9
/23
51% Performance
37% Risk Management
88% Cost
9 out of 23 among elss (tax savings)
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Larger AUM within category
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5Y returns in the top 25% of the category
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Beats FD returns for both 3Y & 5Y
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No bad points found for this fund.

Fund Overview

Expense ratio0.57%
Benchmark
S&P BSE 200 India TR INR
AUM₹24346 Cr
Inception Date28 December, 2015
Min Lumpsum/SIP₹500/₹500
Exit Load0%
Lock In3 Years
TurnOver
84.11%
Risk
Risk meter
pointer
Very High Risk

Fund Distribution
as on (30-Jun-24)

  • Equity 98.8%

  • Debt & Cash 1.2%

Large cap
66.7%
Mid cap
16.7%
Small cap
15.4%
Sector Allocation

Jun'24

May'24

Apr'24

Financial Services
32.3%
Consumer Cyclical
13.7%
Industrial
11.1%
Tech
10.1%
Health
9.1%
Basic Materials
8%
Energy
5.9%
Communication
3.2%
Consumer Defensive
3%
Utilities
2.3%
Real Estate
1.3%
All changes are between Apr'24 and Jun'24

as on (30-Jun-24)

  • Equity

  • Debt & Cash

Holdings
Weight%
1M Change
HDFC Bank Ltd
HDFC Bank Ltd
8.33%
0%
Axis Bank Ltd
Axis Bank Ltd
4.98%
29.6%
ICICI Bank Ltd
ICICI Bank Ltd
4.39%
-5.1%
Reliance Industries Ltd
Reliance Industries Ltd
4.13%
-11%
Infosys Ltd
Infosys Ltd
4.1%
9.9%
See all

  • Returns %

  • Fund Ratios

  • Overview

Funds
1Y Returns
3Y Returns
5Y Returns
Since Inception
Mirae Asset ELSS Tax Saver Fund Direct Growth
Mirae Asset ELSS Tax Saver Fund Direct Growth
36.8%
19.3%
23.8%
21.4%
Motilal Oswal ELSS Tax Saver Fund Direct Plan Growth
Motilal Oswal ELSS Tax Saver Fund Direct Plan Growth
57.3%
25.3%
26%
19.6%
ITI ELSS Tax Saver Fund Direct Growth
ITI ELSS Tax Saver Fund Direct Growth
56.5%
21.4%
-
23%
Quant ELSS Tax Saver Growth Option Direct Plan
Quant ELSS Tax Saver Growth Option Direct Plan
56%
27.1%
37%
23.7%
See all

Returns for the month of Jun

  • Gainers

  • Losers

Top Growth Drivers
1M Return
Infosys Ltd
Infosys Ltd
20.3%
Wipro Ltd
Wipro Ltd
2%

Neelesh Surana
Neelesh Surana
Fund Manager of Mirae Asset ELSS Tax Saver Fund Direct Growth, since 28 December 2015
Top funds managed
Scheme
Annualised Returns(3Y)
Category Returns(3Y)
Mirae Asset ELSS Tax Saver Fund -Direct Plan-Growth
19.29%
19.51%
Mirae Asset Large & Midcap Fund Direct Plan Growth
19.24%
21.68%

Mutual Fund Insights

Insights icon
Over the last 6 months, this fund has experienced a 19.2% growth in AUM moving from 20.43K Cr to 24.34K Cr.
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In the last 3 years, SBI Long Term Equity Fund Direct Growth has given 28.48% return, outperforming this fund by 9.2% per annum.
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In the last 5 years, Quant ELSS Tax Saver Growth Option Direct Plan has given 36.98% return, outperforming this fund by 13.22% per annum.
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This fund has one of the lowest expense ratio in the category (elss (tax savings)). Its expense ratio is 0.57% which is lower than the category average expense ratio of 1.27%.
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Over the last 1 year, this fund has increased expense ratio by 14.0% moving from 0.50 to 0.57.
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In the last 1 year, Motilal Oswal ELSS Tax Saver Fund Direct Plan Growth has given 57.32% return, outperforming this fund by 20.52%.

Mirae Asset ELSS Tax Saver Fund Direct Growth Highlights

Risk meter
pointer

Very High Risk

Investors understand that their principal will be at Very High Risk
About the fund

About the fund

This fund has delivered an average annual returns of 21.43% since inception which is more than its category average return of 16.63%
Fund Allocations

Fund Allocations

This fund has an allocation of 98.79% in Equity, 0% in Debt and 1.21% in Cash related instruments
AUM size ₹24346 Cr

AUM size ₹24346 Cr

This fund has AUM of ₹24346 Cr which is more than its category average of ₹ 3925 Cr
Expense Ratio 0.57%

Expense Ratio 0.57%

This fund has an expense ratio of 0.57% which is less than its category average expense ratio of 1.47%

Frequently Asked Questions

The current NAV of Mirae Asset ELSS Tax Saver Fund Direct Growth is ₹52.79 as on 25-Jul-2024.
Existing (Absolute + CAGR) as on 25-Jul-2024.
Mirae Asset ELSS Tax Saver Fund Direct Growth
Absolute Returns
CAGR Returns
1 Month Returns
3.84%
3.84%
6 Month Returns
18.93%
18.93%
1 Year Returns
36.8%
36.8%
3 Years Returns
69.74%
19.29%
5 Years Returns
190.33%
23.76%
With INDmoney, the process of investing is very simple and involves zero commission.
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  • Select your bank account and proceed with Payment.
0.57% as on June 2024
₹24346 Cr as on June 2024
HDFC Bank Ltd(8.33%), Axis Bank Ltd(4.98%), ICICI Bank Ltd(4.39%), Reliance Industries Ltd(4.13%), Infosys Ltd(4.1%) as on June 2024
Financial Services(31.95%), Consumer Cyclical(13.56%), Industrial(10.94%) as on June 2024
The alpha ratio for the Mirae Asset ELSS Tax Saver Fund Direct Growth for various period is as follows:
Fund Name
Alpha 1 Year
Alpha 3 Years
Alpha 5 Years
Mirae Asset ELSS Tax Saver Fund Direct Growth
-1.76
0.38
2.24
As on June 2024
The alpha for Mirae Asset ELSS Tax Saver Fund Direct Growth is calculated against S&P BSE 200 India TR INR. Higher alpha indicates that this fund has generated extra returns compared to the benchmark index. An alpha of 1.0 means the fund has outperformed its benchmark index by 1%.
The Beta ratio for the Mirae Asset ELSS Tax Saver Fund Direct Growth for various period is as follows:
Fund Name
Beta 1 Year
Beta 3 Years
Beta 5 Years
Mirae Asset ELSS Tax Saver Fund Direct Growth
1.02
0.91
0.98
As on June 2024
The Beta for Mirae Asset ELSS Tax Saver Fund Direct Growth is calculated with S&P BSE 200 India TR INR. Beta tells the volatility of the mutual fund relative to its benchmark. If the beta of a mutual fund is more than 1, then the mutual fund is more volatile than its benchmark. If beta is less than 1, then the mutual fund is less volatile than the benchmark.
The sharpe ratio for the Mirae Asset ELSS Tax Saver Fund Direct Growth for various period is as follows:
Fund Name
Sharpe Ratio 1 Year
Sharpe Ratio 3 Years
Sharpe Ratio 5 Years
Mirae Asset ELSS Tax Saver Fund Direct Growth
2.16
1.05
0.89
As on June 2024
The sharpe ratio for Mirae Asset ELSS Tax Saver Fund Direct Growth is calculated with S&P BSE 200 India TR INR. Sharpe ratio tells risk-adjusted-returns of the mutual fund. The higher a fund's Sharpe ratio, the better a fund's returns have been relative to the risk it has taken on.
The standard deviation for the Mirae Asset ELSS Tax Saver Fund Direct Growth for various period is as follows:
Fund Name
Standard Deviation 1 Year
Standard Deviation 3 Years
Standard Deviation 5 Years
Mirae Asset ELSS Tax Saver Fund Direct Growth
11.92
12.32
18.99
As on June 2024
Standard deviation tells the volatility of the returns of the mutual fund. The higher a fund's Standard deviation, the higher the volatility of the fund's returns.
Sortino ratio is 1.98 as on June 2024. Sortino ratio tells the downside risk-adjusted-returns of the mutual fund.
Neelesh Surana is the fund manager of Mirae Asset ELSS Tax Saver Fund Direct Growth
The Exit load of Mirae Asset ELSS Tax Saver Fund Direct Growth is 0%