1 min read.Updated: 05 Nov 2020, 12:32 PM ISTAvneet Kaur
1-year return of Mirae Asset Emerging Bluechip Fund is 8.33% vs the category average of -1% in the same time period.
₹3,000 invested monthly in Mirae Asset Emerging Bluechip Fund has grown to ₹2,56,000 in five years. The fund has doubled investors' money in the last five years, when invested in lumpsum. The best performing scheme in the large & midcap category has delivered 12.84% annualised SIP returns in the last five years and 11% in the last three years. The scheme was launched in July 2010. The scheme has stayed in the top quartile in three out of last six calendar years, in the remaining three years, Mirae Asset Emerging Bluechip Fund stood in the second quartile, shows data from Morningstar.
Sebi defines a large & midcap fund as an open-ended scheme which has to invest minimum 35% of total assets each in equity & equity related instruments of large cap companies mid cap stocks.
Undoubtedly, Mirae Asset Emerging Bluechip has remained a great performer throughout. Year-to-date, the scheme is in the top quartile as well. The scheme has grown by 4%. In the last five years, the scheme is up 15% against the category average of 7.6%. 1-year return of Mirae Asset Emerging Bluechip Fund is 8.33% vs the category average of -1% in the same time period.
The scheme is managed by Neelesh Surana and Ankit Jain. Neelesh Surana has been managing the scheme since May 2010.
"Our investment philosophy is centered around participating in quality businesses, but up to a reasonable valuation. Analysis of all three buckets – Business, Management, and Valuation is important from a risk-reward matrix and outliers are avoided," says Swarup Mohanty. CEO, Mirae Asset Investment Managers (India) on superior performance of Mirae's equity schemes.
"We seek to construct diversified portfolio, which could handle mistakes and deliver decent risk-adjusted returns," Mohanty adds.
In the risk vs return matrix, Morningstar puts the scheme under an average risk and high return scheme.
Top five stocks of the scheme include HDFC Bank (6.76%), ICICI Bank (5.22%), Infosys (5.11%), Axis Bank (3.80%) and Bharti Airtel ( 3.27%). Top 10 stocks constitute 38% of the total assets of the scheme. Mirae Asset Emerging Bluechip Fund is the largest scheme in the large & mid cap category holding an AUM of ₹11,466 crore.