Performance Update

Mirae Asset Focused: Catching up

After a striking underperformance in 2022, the fund has narrowed the gap

After a striking underperformance in 2022, the fund has narrowed the gap

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Mirae Asset Focused Fund runs a focused portfolio, i.e., it does not have more than 30 stocks in its portfolio at any given time. It maintains a sizable exposure to mid-cap names compared to its peers and has a blend of value and growth-oriented stocks. In 2019, the fund had a steamy start, but it is facing headwinds since 2022. This year, the fund has delivered similar to the benchmark but lags an average peer by 2-3 per cent. However, the magnitude of underperformance is significantly less than last year. Reasons for performance Majority of its top holdings - the likes of HDFC Bank, Axis Bank, Infosys, ICICI Bank - have posted a weak or muted show of late leading to the fund's underperformance in the category. Since it is a focused fund,

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