Overview of Mirae Asset Mutual Fund
Mirae Asset Mutual Fund, which has originating roots from Asia, commenced its operations in 1997 in the wake of the Asian currency crises. Today, Mirae Asset spans its global reach in delivering out the best ideas to investors around the globe, having a foothold in 12 countries across 5 continents. The objective of Mirae is to offer its clients with a deep insight on the financial strategies and continual performance through their diversified products offering.
Mirae Asset Global Investments Co. Ltd acts as the sponsor of the company whereas Mirae Asset Trustee Company Pvt. Ltd. Acts as the trustee of the company.
Mirae has its presence in India as well, let's take a quick snapshot of its details :
- Mirae Asset Mutual Fund instituted its operations in November 2007 with a seed capital of US$ 50 million
- Mirae Asset Global Investments Co. Limited, South Korea is the sponsor of Mirae Asset Mutual Fund
- Mirae is existing in India as an FII since 2004
- Offers Advisory Services to Hong Kong and Korea offices
- Combination of domestic and International businesses offering the stable growth for Mirae Asset India business.
Board of Directors for Mirae Asset Global Investments
The list of board of directors are as under:
1. AMC Directors
- Mr. B. N. Chakraborty - Chairman - Independent Director
- Mr. Yogesh Chadha - Independent Director
- Mr. Swarup Anand Mohanty - Director (Associate)
- Mr. Junyoung Hong - Director (Associate)
2. Trustee Directors
- Mr. V.B.Haribhakti - Chairman - Independent Director
- Mr. S.T. Gerela - Independent Director
- Mr. K. Ramasubramanian - Independent Director
- Mr. M. L. Soneji - Independent Director
The registrar of Mirae Asset Global Investments (India) Pvt. Ltd. Is Karvy Computershare Pvt. Ltd.
The fund managers are classified as follows
- Mr.Neelesh Surana
- Mr. Harshad Borawake
- Mr. Ankit Jain
- Ms. Bharti Sawant
- Mr. Sudhir Kedia
- Mr. Mahendra Jajoo
Products offered by Mirae Asset Mutual Fund
The products of Mirae Asset Mutual Fund are classified as under:
I. Mirae Asset Equity Fund
Equities are a preferable investment avenue amongst retail investors. Although it carries a high-risk in the short-term but investors can focus towards capital appreciation in the long-run. Equity funds provide investors massive growth only if they remain invested for a longer-term.
Equity funds are classified by Mirae Asset Mutual Fund as follows :
- Mirae Asset India Opportunities Fund (MAIOF)
- Mirae Asset Emerging Bluechip Fund (MAEBF)
II. Thematic Funds
Thematic funds are those mutual funds which invest across the sectors relating to a common theme. These funds are more diversified as the investments are channelized in various sectors and not in a particular sector. Both the sector funds are volatile and prove to be much riskier as compared to the broad market as their performance is dependent on the performance of the sector or sectors in which they are investing. The prime objective of thematic funds is to provide the investor an avenue to invest in the theme related sectors that command strong growth potential due to the boom in the industry.
Mirae Asset Mutual Fund classifies thematic funds under following categories:
- Mirae Asset Great Consumer Fund (MAGCF)
- Mirae Asset China Advantage Fund (MACAF)
III. Hybrid Funds
Hybrid funds allows the investors to enjoy growth and income at periodic intervals. These funds invest in a combination of both equities and fixed-income securities; the proportion is determined in advance and prescribed in the scheme related offer document of Mirae Asset Mutual Fund.
Only one scheme is classified under Hybrid Fund :
- Mirae Asset Prudence Fund (MAPF)
IV. Fixed Income Funds
Fixed income funds are those mutual funds which primarily invest in debt market instruments such as bonds, debentures, government securities and much more. These are secured form of investments which provide fixed returns. These funds are opted by those investors who don't prefer to invest in high volatile equity environment as it consists of high-risk exposure. Mirae Mutual Fund offers the following types of mutual funds under fixed income category as:
- Mirae Asset Dynamic Bond Fund (MADBF)
- Mirae Asset Cash Management Fund (MACMF)
- Mirae Asset Savings Fund (MAUSTBF)
V. Tax Saving Mutual Funds
Get tax benefit by choosing Tax Saving Mutual Funds as one of your investment options. These funds are eligible for income tax deductions under Section-80C of the Income Tax Act, 1961 with a 3-year lock-in period. Tax savings are done under Equity Linked Savings Scheme(ELSS) which provide long-term growth opportunities.
Only one scheme is classified under Tax Saving by Mirae Asset Mutual Fund :
- Mirae Asset Tax Saver Fund (MATSF)
Disclaimer :Mutual Funds are subject to market risks. Please read the scheme related documents carefully before investing.