Mirae Asset ELSS Tax Saver Reg Gr

All Cap

Equity

India Tax Saver

Others

Tax Saver

Emotionally driven Investor Profile

Investor Profile

1–7 yearsInvestment Horizon

HNI, UHNI, Retail Investor, Mass AffluentTarget Segments

SEBI registered equity mutual fund suitable for all investor categoriesRegulatory Fit

Mirae Asset Elss Tax Saver Fund Growth invests mainly in stocks for long-term wealth growth.

What This Strategy Does

Mirae Asset ELSS Tax Saver Fund is an equity fund which captures India's ₹2.5 trillion tax-saving opportunity through a disciplined growth-at-a-reasonable-price approach, deploying capital across financials, consumer cyclicals, and healthcare to achieve broad-based earnings growth.

CW Expert Research Notes

Consistent Outperformance

The fund has demonstrated strong benchmark-relative returns and consistency across market cycles, outperforming 91% of peers and its benchmark over its lifetime, underpinned by disciplined stock selection and downside protection.

Differentiated Process

The fund follows a differentiated growth-at-a-reasonable-price approach, combining quantitative screens with rigorous fundamental research to identify quality businesses with stable earnings, credible management, and attractive valuations across market caps.

Valuation-Conscious Positioning

The fund maintains a well-diversified portfolio with a large-cap bias, selectively allocating to mid-caps, while avoiding overexposure to sectors with weaker fundamentals or elevated valuations, reflecting its focus on risk management.

Performance and Risk Analysis

Historical returns, volatility patterns, and how this fund has performed relative to its benchmark.

Fund Performance

2.2% AnnuallyAlpha

+12.7% vs +9.3% benchmarkSince Inception

+10.2% vs +5.1% benchmark3Y Annualized

+9.0% vs +5.2% benchmark5Y Annualized

Mirae Asset ELSS Tax Saver Reg Gr

Benchmark Index

Benchmark Performance Comparison

Mirae Asset Tax Saver Fund

NIFTY 50

Risk Profile

Standard Deviation18.2%

Maximum Drawdown-16.5% | Oct 2024

Sharpe Ratio0.15

Beta1.04

Upside Capture101%

Detailed Risks

Market Risk

Potential recession and consumer demand contraction could undermine earnings growth, mitigated by defensive sector tilts.

Liquidity Risk

Elevated mid-cap exposure risks liquidity stress during volatility spikes, mitigated by large-cap buffer.

Concentration Risk

Concentrated sector bets amplify downside from regulatory headwinds or competitive disruption, mitigated by diversification.

Specific Strategy Risk

Tax policy changes could impair ELSS strategy's after-tax returns, mitigated by rigorous policy monitoring.

Strategy Details

A closer look at the investment thesis, portfolio construction, and current holdings.

Core Investment Theme

Provides tax-efficient wealth creation through exposure to India's most resilient businesses across market cycles. These market leaders typically reinvest cash flows into sustainable competitive moats, translating into steady compounding with lower downside risk. The impact is predictable long-term growth with reduced volatility.

Broader Market View

Market Outlook

The equity markets appear to be in a post-correction recovery phase, offering an attractive entry point as consumption and earnings normalize. Sectors like consumer, financials, and industrials stand to benefit from this revival in domestic demand and capex cycle, though risks like competition and margin pressures persist.

Why This Strategy is Attractive Now

This strategy seems well-positioned for the current environment with exposure across consumer cyclicals/defensives, financials, and technology. The portfolio's ~70 holdings provide diversification, including market leaders, while a moderate beta and flexibility allow for risk-adjusted participation in the ongoing recovery.

Investment Style & Process

Investment Style

The portfolio exhibits characteristics of a Quality Growth strategy, emphasizing companies with durable competitive advantages, consistent earnings growth, and reasonable valuations relative to their growth prospects.

Why it Makes Sense

In the current market environment characterized by economic normalization and moderating growth, a Quality Growth approach focused on resilient business models and prudent valuations could offer an attractive risk-return profile.

High-Level Investment Process

Sourcing: The strategy appears to source investment ideas from across the market capitalization spectrum, with a tilt towards large and mid-cap companies exhibiting sustainable competitive advantages and growth runways. Selection: The selection process suggests a preference for companies with strong fundamentals, including consistent profitability, healthy balance sheets, and capable management teams, trading at reasonable valuations relative to their long-term growth prospects. Construction: Portfolio construction is consistent with a diversified, conviction-weighted approach, balancing risk management with the ability to capitalize on high-conviction opportunities.

Portfolio Holdings Overview

SectoralAllocation

Capital Goods18.58%

Services17.31%

Consumers16.38%

Financial Services33.8%

Utilities2.03%

Energy & Infra7.22%

Technology4.68%

Geographic Allocation

Domestic100%

Top Stock Holdings

CompanySectorAllocation

HDFC Bank LtdFinancial Services8.43%

ICICI Bank LtdFinancial Services5.32%

Reliance Industries LtdEnergy & Infra4.35%

Laurus Labs LtdServices4.31%

State Bank of IndiaFinancial Services4.03%

Axis Bank LtdFinancial Services3.62%

PB Fintech LtdFinancial Services3.27%

Bharti Airtel LtdServices2.74%

Sun Pharmaceuticals Industries LtdServices2.38%

Delhivery LtdCapital Goods2.29%

Fund House Management

The asset management company’s track record, AUM scale, and fund manager credentials.

Fund Manager Track Record

Neelesh Surana

Mr. Neelesh Surana has experience of 27 years. Manages 10 funds at Mirae Asset Investment Managers (India) Private Limited with an AUM of approximately ₹70,814 Cr Holds a M.B.A. degree.

27 years

Combined Team Experience

₹ 70,814 Cr

Assets Under Management

CW Expert Take

Mirae Asset brings global investment expertise to Indian markets. Their strength lies in thematic research and identifying structural growth trends early. The fund house combines quantitative frameworks with fundamental analysis, creating disciplined yet opportunistic strategies across market caps and asset classes.

Firm Overview

Total AUM₹2,17,680.38 Cr

Investment Philosophy & Approach

Disciplined Approach

Mirae Asset follows a disciplined growth-at-reasonable-price (GARP) investment philosophy.

Quality Focus

The fund house emphasizes investing in quality businesses with stable earnings.

Long-Term Orientation

Mirae Asset maintains a long-term capital allocation mindset and conviction.

Operational & Regulatory Details

What it costs to invest, transaction mechanics, and regulatory disclosures you should know.

Costs and Fees

Total Expense Ratio (TER)1.98%

Regulatory & Tax Information

INF769K01DK3

ISIN

DailyDealing Frequency

BSE 500 India TR INRBenchmark

LTCG | >1Year 12.5%% on gain above 1.25 Lakh

STCG | <1Year 20%%

Tax Implications (India)