Mirae Asset Tax Saver Fund -Direct Plan-Growth
Equity
Direct
Elss (Tax Savings)
NAV: ₹ 41.4 as on 01-12-2023
Fund Performance
48825 people have invested ₹ 18.9Cr in Mirae Asset Tax Saver Fund -Direct Plan-Growth in the last three months
Mutual Fund Insights
This fund has one of the lowest expense ratio in the category (elss (tax savings)). Its expense ratio is 0.66% which is lower than the category average expense ratio of 1.32%.
In the last 3 years, Quant Tax Plan Growth Option Direct Plan has given 35.73% return, outperforming this fund by 14.94% per annum.
In the last 5 years, Quant Tax Plan Growth Option Direct Plan has given 28.36% return, outperforming this fund by 9.38% per annum.
Over the last 6 months, this fund has experienced a 15.2% growth in AUM moving from 15.21K Cr to 17.53K Cr.
In the last 1 year, Motilal Oswal ELSS Tax Saver Fund Direct Plan Growth has given 27.77% return, outperforming this fund by 12.57%.
Over the last 3 months, this fund has increased expense ratio by 17.9% moving from 0.56 to 0.66.
INDmoney Rank of Mirae Asset Tax Saver Fund -Direct Plan-Growth
Powered by IND quant engine
6
/23
71% Performance
45% Risk Management
79% Cost
6 out of 23 among elss (tax savings)
Pros
Generated Consistent Returns
Larger AUM within category
5Y returns in the top 25% of the category
Cons
No bad points found for this fund.
About the Mirae Asset Tax Saver Fund -Direct Plan-Growth
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
- Mirae Asset Tax Saver Fund -Direct Plan-Growth has ₹17532 Cr worth of assets under management (AUM) as on Oct 2023 and is more than category average.
- The fund has an expense ratio 0.7.
Mirae Asset Tax Saver Fund -Direct Plan-Growth Overview
 | 0.66% |
 Benchmark | S&P BSE 200 India TR INR |
 | ₹17532 Cr |
 | 28 December, 2015 |
 | ₹500/₹500 |
 | 0% |
 | 3 Years |
 TurnOver | 84.11% |
Mirae Asset Tax Saver Fund -Direct Plan-Growth Distribution as on (31-Oct-23)
Size breakup
Large cap
66.9%
Mid cap
21.1%
Small cap
11.7%
Sector Allocation
Financial Services
35%
Consumer Cyclical
13.2%
Basic Materials
10%
Industrial
9.4%
Tech
8.8%
Health
7.9%
Utilities
4.7%
Energy
4.4%
Consumer Defensive
3%
Communication
2.5%
Real Estate
1.2%
Top Holdings of Mirae Asset Tax Saver Fund -Direct Plan-Growth as on (30-Nov-23)
Equity Holdings70
Debt Holdings1
Holdings | Weight% | 1M Change | |
|---|---|---|---|
 HDFC Bank Ltd | 9.63% | 0% | |
 ICICI Bank Ltd | 6.56% | -5.3% | |
 State Bank of India | 5.04% | 4% | |
 Reliance Industries Ltd | 3.92% | 12.6% | |
 Infosys Ltd | 3.43% | 0% |
See all
Mirae Asset Tax Saver Fund -Direct Plan-Growth: Monthly Changes Updates
All changes are between Aug'23 and Oct'23
Fund Performance
- This fund’s returns stands at -3.36% whereas the fund’s underlying benchmark Nifty 500 returns stands at -2.63% as on Oct'23
- This fund underperformed Nifty 500 by 0.73% in Oct'23
AUM Change
- AUM of the fund stands at 17.5K Cr as of Oct'23
- AUM decreased by 453.9 Cr between Oct'23 and Sep'23
Fund Portfolio Changes
Gainers & Losers in Mirae Asset Tax Saver Fund -Direct Plan-Growth portfolio Returns for the month of Oct
Top Growth Drivers | 1M Return |
|---|---|
 Prestige Estates Projects Ltd | 23.9% |
 SBI Life Insurance Company Ltd | 5.8% |
 HCL Technologies Ltd | 3% |
Top Losers | 1M Return |
|---|---|
 State Bank of India | -6.2% |
 Axis Bank Ltd | -5.7% |
 HDFC Bank Ltd | -2.1% |
Peer Analysis
Mirae Asset Tax Saver Fund -Direct Plan-Growth Fund Manager
Neelesh Surana
Fund Manager of Mirae Asset Tax Saver Fund -Direct Plan-Growth, since 28 December 2015
Top funds managed
Mirae Asset Tax Saver Fund -Direct Plan-Growth Highlights
Very High Risk
Investors understand that their principal will be at Very High Risk
About the fund
This fund has delivered an average annual returns of 19.54% since inception which is more than its category average return of 14.69%
Fund Allocations
This fund has an allocation of 99.73% in Equity, 0% in Debt and 0.27% in Cash related instruments
AUM size ₹17532 Cr
This fund has AUM of ₹17532 Cr which is more than its category average of ₹ 2929 Cr
Expense Ratio 0.66%
This fund has an expense ratio of 0.66% which is less than its category average expense ratio of 1.5%
Frequently Asked Questions
The current NAV of Mirae Asset Tax Saver Fund -Direct Plan-Growth is ₹41.44 as on 01-Dec-2023.
Existing (Absolute + CAGR) as on 01-Dec-2023.
Mirae Asset Tax Saver Fund -Direct Plan-Growth | Absolute Returns | CAGR Returns |
1 Month Returns | 6.69% | 6.69% |
6 Month Returns | 14.44% | 14.44% |
1 Year Returns | 15.2% | 15.2% |
3 Years Returns | 76.26% | 20.8% |
5 Years Returns | 138.41% | 18.98% |
With INDmoney, the process of investing is very simple and involves zero commission.
- Click Buy on the fund name.
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- Select Lump Sum or SIP (Weekly, Monthly or Quarterly).
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0.66% as on November 2023
₹17532 Cr as on November 2023
HDFC Bank Ltd(9.63%), ICICI Bank Ltd(6.56%), State Bank of India(5.04%), Reliance Industries Ltd(3.92%), Infosys Ltd(3.43%) as on November 2023
Financial Services(34.95%), Consumer Cyclical(13.14%), Basic Materials(10.01%) as on November 2023
The alpha ratio for the Mirae Asset Tax Saver Fund -Direct Plan-Growth for various period is as follows:
Fund Name | Alpha 1 Year | Alpha 3 Years | Alpha 5 Years |
Mirae Asset Tax Saver Fund -Direct Plan-Growth | 1.8 | 1.72 | 2.94 |
As on November 2023
The alpha for Mirae Asset Tax Saver Fund -Direct Plan-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 Tax Saver Fund -Direct Plan-Growth for various period is as follows:
Fund Name | Beta 1 Year | Beta 3 Years | Beta 5 Years |
Mirae Asset Tax Saver Fund -Direct Plan-Growth | 0.9 | 0.91 | 0.98 |
As on November 2023
The Beta for Mirae Asset Tax Saver Fund -Direct Plan-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 Tax Saver Fund -Direct Plan-Growth for various period is as follows:
Fund Name | Sharpe Ratio 1 Year | Sharpe Ratio 3 Years | Sharpe Ratio 5 Years |
Mirae Asset Tax Saver Fund -Direct Plan-Growth | 0.55 | 1.2 | 0.73 |
As on November 2023
The sharpe ratio for Mirae Asset Tax Saver Fund -Direct Plan-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 Tax Saver Fund -Direct Plan-Growth for various period is as follows:
Fund Name | Standard Deviation 1 Year | Standard Deviation 3 Years | Standard Deviation 5 Years |
Mirae Asset Tax Saver Fund -Direct Plan-Growth | 10.55 | 13.76 | 18.71 |
As on November 2023
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 2.57 as on November 2023. Sortino ratio tells the downside risk-adjusted-returns of the mutual fund.
Information ratio is 0.24 as on November 2023. It tells the consistency of the fund in generating superior risk-adjusted performance
Neelesh Surana is the fund manager of Mirae Asset Tax Saver Fund -Direct Plan-Growth
The Exit load of Mirae Asset Tax Saver Fund -Direct Plan-Growth is 0%