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Mirae Asset Savings Fund - Regular Savings Plan


1 Lakh

Investment Grown to
₹ 1.06 Lakh

₹ 10000

Monthly SIP Grown to
₹ 1.23 Lakh

Analyst's Choice?

Suitability:

Low Duration debt funds invest in bonds maturing in 6 months to 1 year time. They aim to earn slightly better returns than what you can get from a bank account or a short duration fixed deposit. The risk of incurring a loss in these funds is negligible but they do not guarantee returns or safety of capital.

Retail investors can avoid these funds altogether. Here's why. Debt funds are very finely classified depending upon the maturity of the bonds they invest in. For instance, there's a different category of funds that invests in bonds of up to 3 months maturity, from the one that invests in bonds maturing in 3-6 months, and so on. We believe that such a nuanced classification adds little value to retail investors. They can avoid this complexity and simply invest the money they don't need for up to the next one year in a Liquid fund.

Taxability of earnings:

Capital gains

  • If the mutual fund units are sold after 3 years from the date of investment, gains are taxed at the rate of 20% after providing the benefit of inflation indexation.
  • If the mutual fund units are sold within 3 years from the date of investment, entire amount of gain is added to the investors' income and taxed according to the applicable slab rate.
  • No tax is to be paid as long as you continue to hold the units.

Dividends

  • Dividends paid by the mutual fund scheme are taxed at the rate of 25% (effectively 29.12%, including surcharge and cess). This is known as Dividend Distribution Tax (DDT).Though the investor does not pay this tax directly, it is deducted from the dividend income before passing on to the investor.

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(₹)
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Trailing Returns (%)

YTD 1-Day 1-W 1-M 3-M 6-M 1-Y 3-Y 5-Y 7-Y 10-Y
Fund 1.17 0.04 0.11 0.70 1.11 2.73 5.78 6.10 6.42 6.85 --
CCIL T Bill Liquidity Weight 0.55 0.02 0.05 0.31 0.85 1.81 4.08 4.11 4.45 4.77 --
Debt: Low Duration 0.91 0.02 0.10 0.63 1.16 2.59 2.09 5.23 6.30 7.03 --
Rank within category 14 4 11 13 24 23 14 15 16 15 --
Number of funds in category 26 26 26 26 26 26 26 26 24 23 16

As on 26-Feb-2020

Best & Worst Performance

Best (Period) Worst (Period)
Week 0.42 (17-Nov-2016 - 24-Nov-2016) -4.98 (08-Oct-2008 - 16-Oct-2008)
Month 1.06 (01-Mar-2019 - 02-Apr-2019) -4.86 (16-Sep-2008 - 16-Oct-2008)
Quarter 2.28 (31-Oct-2018 - 30-Jan-2019) -3.46 (17-Jul-2008 - 16-Oct-2008)
Year 8.35 (06-Jul-2012 - 08-Jul-2013) 5.25 (25-Sep-2017 - 25-Sep-2018)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 5.86 1.11 0.18 0.18 2.21 3.75
CCIL T Bill Liquidity Weight 4.06 0.27 -6.06 -10.48 -- --
Debt: Low Duration 5.08 3.25 0.69 1.45 1.93 2.52
Rank within category 14 12 14 14 22 14
Number of funds in category 25 25 25 25 25 25

The Risk Measures have been calculated using calendar month returns for the last three years.

As on 31-Jan-2020

Portfolio Aggregates

Fund 1Y High 1Y Low Category
Number of Securities 44 44 34 52
Modified Duration (yrs) 0.71 0.81 0.58 0.74
Average Maturity (yrs) 0.79 0.98 0.72 0.92
Yield to Maturity (%) 6.20 8.33 6.19 6.93

Value Research Fund Style

Credit Rating vis-à-vis Category

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Top Holdings

Company Instrument Credit Rating 1Y Range % Assets
equal AU Small Finance Bank 2020 Certificate of Deposit A1+ 0.00 - 5.71 5.30
equal 7.15% HDFC 16/09/2021 Debenture AAA 0.00 - 4.76 4.01
equal Reliance Jio Infocomm 96-D 09/03/2020 Commercial Paper A1+ 0.00 - 4.06 3.97
equal Reliance Retail Ltd. 97-D 09/03/2020 Commercial Paper A1+ 0.00 - 4.06 3.97
equal Punjab National Bank 19/03/2020 Certificate of Deposit A1+ 0.00 - 4.65 3.96
equal SIDBI 15/05/2020 Securitised Debt A1+ 0.00 - 4.59 3.93
equal Bank of Baroda 2020 Certificate of Deposit A1+ 0.00 - 4.58 3.92
equal National Bank Agr. Rur. Devp 2020 Certificate of Deposit A1+ 0.00 - 4.57 3.91
equal ICICI Bank 14/09/2020 Certificate of Deposit A1+ 0.00 - 4.50 3.85
equal Axis Bank 30/10/2020 Certificate of Deposit A1+ 0.00 - 4.13 3.82
equal 8.71% HDB Financial Services 17/05/2021 Bonds/NCDs AAA 0.00 - 3.89 3.25
equal 7.70% REC 15/03/2021 Bonds/NCDs AAA 0.00 - 2.87 2.42
new 8.75% Vedanta 30/06/2022 Non Convertible Debenture AA 0.00 - 2.39 2.39
equal HUDCO 13/10/2022 Debenture AAA 0.00 - 1.91 1.61
equal 8.51% HDFC 15/07/2020 Non Convertible Debenture AAA 0.00 - 1.93 1.61
equal 8.75% M&M Financial Services 20/07/2020 Debenture AAA 1.61 - 2.17 1.61
equal 8.45% L&T Finance 23/12/2022 Debenture AAA 0.00 - 1.64 1.61
new 7.00% Reliance Industries 31/08/2022 Non Convertible Debenture AAA 0.00 - 1.60 1.60
equal 6.78% Reliance Industries 16/09/2020 Non Convertible Debenture AAA 0.00 - 2.07 1.60
equal 9.50% Muthoot Finance 14/06/2021 Debenture AA 0.00 - 1.88 1.60
equal 7.60% Aditya Birla Housing Finance 30/07/2021 Bonds AAA 1.58 - 2.10 1.58
new 8.75% Muthoot Finance 19/06/2021 Bonds/NCDs AA 0.00 - 1.58 1.58
equal 8.50% LIC Housing Fin. 2021 Debenture AAA 0.71 - 1.74 1.46
equal Axis Finance 2022 Debenture AAA 0.00 - 1.36 1.18
equal 8.50% SIDBI 21/06/2021 Debenture AAA 0.00 - 0.98 0.82

up down equal Indicates an increase or decrease or no change in holding since last portfolio
new Indicates a new holding since last portfolio

As on 31-Jan-2020

Fund Manager

— Mahendra Kumar Jajoo since 08-Sep-2016

Education: Mr. Jajoo is a B.Com (H), CS, Chartered Accountant and CFA.

Experience: Prior to joining Mirae Asset Mutual Fund he was Director with AUM Capital Markets Ltd. and also been associated with organisations like PGIM India Mutual Fund, Tata Asset Management Company, BNP Paribas Asset Management India Pvt. Ltd., ABN Amro Securities India Pvt. Ltd. and ICICI Group.

Funds Managed:


0.04%

Change from previous, NAV as on 26-Feb-2020

Growth: ₹ 1,680.5379

Dividend Weekly: ₹ 1,106.6348

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Dividend Quarterly: ₹ 1,013.7758

Dividend Monthly: ₹ 1,087.5308

Dividend Daily: ₹ 1,005.6500


Investment Strategy

The scheme aims to enhance income consistent with a high level of liquidity, through a judicious portfolio mix of money market and debt instruments.

Investment Details

Minimum Investment (₹) 5,000
Minimum Addl Investment (₹) 1,000
Minimum SIP Investment (₹) 1,000
Minimum No of Cheques 5
Minimum Withdrawal (₹) 1,000
Minimum Balance (₹) --
Exit Load 0

Basic Details

Fund House: Mirae Asset Mutual Fund
Launch Date: 05-Mar-2008
Return Since Launch: 7.00%
Benchmark: CRISIL Low Duration Debt
Riskometer: Moderately Low
Type: Open-ended
Assets: ₹ 627 Cr (As on 31-Jan-2020)
Expense: 0.86% (As on 31-Jan-2020)
Risk Grade: Average
Return Grade: Average

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Daily26-Feb-20200.1442

 25-Feb-20200.1473
 24-Feb-20200.5211
 20-Feb-20200.2219
 18-Feb-20200.1344
 17-Feb-20200.3493
 14-Feb-20200.1523
 13-Feb-20200.2222
 12-Feb-20200.1155
 11-Feb-20200.1381
 10-Feb-20200.3722
 07-Feb-20200.1510
 06-Feb-20200.4625
 05-Feb-20200.1577
 04-Feb-20200.0836
 03-Feb-20200.4684
 31-Jan-20200.1050
 30-Jan-20200.1171
 29-Jan-20200.0528
 28-Jan-20200.1259
 27-Jan-20200.4502
 24-Jan-20200.2216
 23-Jan-20200.2345
 22-Jan-20200.2366
 21-Jan-20200.0766
Dividend Weekly26-Feb-20200.7625

 20-Feb-20200.8527
 12-Feb-20202.2191
 05-Feb-20201.0259
 29-Jan-20201.1952
 22-Jan-20201.1316
 15-Jan-20200.4562
 04-Dec-20190.9915
 27-Nov-20190.9734
 20-Nov-20191.2800
 13-Nov-20190.7949
 06-Nov-20190.7638
 30-Oct-20191.3834
 23-Oct-20190.8907
 16-Oct-20191.6276
 09-Oct-20190.8665
 03-Oct-20191.1665
 18-Sep-20190.5436
 11-Sep-20190.8704
 04-Sep-20191.1857
 28-Aug-20191.5663
 21-Aug-20191.1899
 14-Aug-20190.9023
 07-Aug-20191.7408
 31-Jul-20191.4606
Dividend Monthly24-Feb-20205.1785

 24-Jan-20203.3337
 25-Nov-20194.6313
 24-Oct-20195.0039
 24-Sep-20192.7252
 26-Aug-20196.2602
 24-Jul-20196.2116
 24-Jun-20192.4567
 24-May-20195.3779
 24-Apr-20194.5381
 25-Mar-20195.6782
 25-Feb-20194.3748
 24-Jan-20196.2255
 24-Dec-20185.6553
 26-Nov-20185.6697
 24-Oct-20185.1724
 24-Sep-20180.8788
 24-Aug-20184.7858
 24-Jul-20184.4999
 25-Jun-20185.7127
 24-May-20181.6784
 24-Apr-20184.1829
 26-Mar-20184.8669
 26-Feb-20183.7408
 24-Jan-20182.7428
Dividend Quarterly15-Jan-202010.8048

 15-Oct-201910.8048
 15-Jul-20193.6016
 15-Apr-201918.5051
 15-Jan-201920.4932
 19-Oct-201811.1650
 16-Jul-201811.2730
 10-Apr-201813.1099
 10-Jan-201811.5562
 11-Oct-201711.1951
 10-Jul-201710.9634
 12-Apr-201722.2487
 13-Oct-201612.3002
 07-Jul-201612.3580
 11-Apr-201612.5241
 07-Jan-201610.9279
 07-Oct-201513.2897
 09-Jul-201512.6107
 07-Apr-201513.2391
 08-Jan-201513.9293
 07-Oct-201413.9439
 09-Jul-201415.4763
 09-Apr-201415.9361
 09-Jan-201415.4685
 07-Oct-201316.3647

Contact Information

AMC: Mirae Asset Investment Managers (India) Pvt. Ltd.

Address: Unit No.606 - 6th Floor, Windsor Building - Off. CST Road, Kalina, Santacruz (East), Mumbai - 400098

Phone: 022-67800301 / 1800-2090-777

Email: [email protected]

Website: www.miraeassetmf.co.in

Registrar & Transfer Agent: KFin Technologies Pvt Ltd.

Address: 303, Vamsee Estates, Opp. Big Bazaar, Ameerpet, Hyderabad - 500016

Phone: 040-44857874

Email: [email protected]

Website: www.karvymfs.com

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