Mirae Asset Great Consumer MF completes 10 years. ₹100 invested becomes ₹4401 min read . Updated: 29 Mar 2021, 01:52 PM IST
- Mirae Asset Great Consumer Fund is an open ended equity fund scheme following consumption theme.
Mirae Asset Investment Managers India announced the completion of ten years of the 'Mirae Asset Great Consumer Fund' on March 29th, 2021, an open-ended equity fund scheme following consumption theme. The fund aims to capture growth from a broad range of sectors to benefit increased consumption led demand in India.
The fund's asset under management (AUM) has increased to ₹1,140.20 crore as on 28th February 2021 with the scheme having 47,747 folios. ITC, Bharti Airtel, Hindustan Unilever, Maruti Suzuki, Britannia Industries, TVS Motor, Dabur India, Tata Consumer Products, HDFC Bank are some of the funds' holdings. This consumer fundhas given around 16% returns since inception as of 26th March 2021.
"India consumption theme continues to be a fascinating theme with multi-decade opportunity driven by favorable demographic dividend. With India crossing $2000 per capita income, is at an inflection point which should result in significant growth in private final consumption expenditure growth over next decade’’, said Ankit Jain, Fund Manager, Mirae Asset Investment Managers (India).
''Last 10-year track record for the fund is a testament to our investment philosophy which is to invest in quality growth businesses at a reasonable price through bottom up stock selection.", Jain added.
As per the fund details, it is suitable for investors seeking for long-term capital appreciation. The portfolio will comprise of growth companies which has strong return ratio (ROE) and possess sustainable competitive advantage with comprising of 35-40 stocks.
''We are committed to continue our endeavor to provide optimum returns for our investors in this fund by staying focused on our core values of investing in quality, growth-oriented businesses, team-based approach to investing that seeks to execute the best ideas and last but not the least, discipline," said Swarup Mohanty, CEO, Mirae Asset Investment Managers India, while speaking about this milestone.