Mirae Asset Focused Fund

All Cap

Diversified

Equity

India Super Value

Others

Aggressive growth 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 Focused Fund Growth invests in high-quality Indian companies with strong fundamentals.

What This Strategy Does

Mirae Asset Focused Fund Regular Growth is an India Fund Focused Fund equity strategy which captures India's broad-based earnings growth opportunity through a concentrated portfolio approach, deploying capital across financials, consumer cyclicals, and technology sectors to achieve benchmark-aligned compounding.

CW Expert Research Notes

Underperforming Outcomes

The fund has underperformed its benchmark and category peers across multiple time periods, indicating a lack of consistency in delivering superior risk-adjusted returns.

Concentrated Portfolio

As a focused fund, the strategy expresses high conviction through concentrated sector and stock exposures, deviating significantly from the market-cap weighted benchmark.

Cyclical Tilt

With overweight positions in cyclical sectors like financials and industrials, the fund's performance could be impacted by fluctuations in the economic cycle.

Performance and Risk Analysis

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

Fund Performance

-7.3% AnnuallyAlpha

+13.5% vs +10.8% benchmarkSince Inception

+6.3% vs +6.3% benchmark3Y Annualized

+5.4% vs +6.5% benchmark5Y Annualized

Mirae Asset Focused Fund

Benchmark Index

Benchmark Performance Comparison

Mirae Asset Focused Fund

NIFTY 50

Risk Profile

Standard Deviation16.7%

Maximum Drawdown-21.0% | Oct 2024

Sharpe Ratio-0.93

Beta1.05

Upside Capture74%

Detailed Risks

Market Risk

Potential recession risks amid slowing global growth could trigger earnings downgrades, impacting concentrated cyclical exposures.

Liquidity Risk

High mid-cap allocation raises liquidity risks during volatility spikes, impacting rebalancing and exits.

Concentration Risk

Concentrated sector bets amplify downside from idiosyncratic risks like competitive pressures or regulatory headwinds.

Specific Strategy Risk

Focused strategy vulnerable to earnings misses or competitive disruption impacting core holdings.

Strategy Details

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

Core Investment Theme

Provides concentrated exposure to India's most resilient businesses across market cycles. This focused approach aims to deliver stability by investing in companies with sustainable competitive advantages, strong balance sheets, and the ability to compound earnings steadily.

Broader Market View

Market Outlook

Equity markets appear to be entering a mid-cycle phase, with consumption and earnings recovery gaining traction. This normalization backdrop, supported by trends like reviving capex and credit growth, offers an attractive entry point. However, risks such as margin pressures and cyclicality in sectors like consumer discretionary and industrials warrant a balanced approach.

Why This Strategy is Attractive Now

The strategy seems well-positioned to capitalize on the current environment through its diversified exposure across consumer, financial, and technology sectors. The portfolio's focus on market leaders, coupled with its balanced mix of growth and stability across approximately 70 holdings, appears aligned with a mid-cycle, normalizing market. The moderate beta and diversification could provide risk-adjusted participation.

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 environment of moderating economic growth and elevated uncertainty, a Quality Growth approach can offer a compelling combination of resilient earnings streams and attractive long-term return potential.

High-Level Investment Process

Sourcing: The strategy appears to focus on companies with sustainable competitive advantages, strong balance sheets, and the ability to generate consistent free cash flow growth. Selection: The process suggests a preference for businesses with durable growth runways, attractive returns on invested capital, and reasonable valuations relative to their long-term earnings prospects. Construction: The portfolio construction is consistent with a focus on diversification across sectors and market capitalizations while maintaining a bias towards quality growth characteristics.

Portfolio Holdings Overview

SectoralAllocation

Utilities4.81%

Financial Services23.96%

Consumers28.7%

Capital Goods14.69%

Energy & Infra2.11%

Services11.88%

Technology13.85%

Geographic Allocation

Domestic100%

Top Stock Holdings

CompanySectorAllocation

HDFC Bank LtdFinancial Services9.13%

ICICI Bank LtdFinancial Services8.68%

Bharti Airtel LtdServices5.87%

Infosys LtdTechnology5.39%

One97 Communications LtdTechnology4.29%

Eternal LtdConsumers4.20%

Axis Bank LtdFinancial Services4.09%

Sona BLW Precision Forgings LtdConsumers3.67%

ITC LtdConsumers3.57%

Maruti Suzuki India LtdConsumers3.45%

Fund House Management

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

Fund Manager Track Record

Gaurav Misra

Mr. Gaurav Misra has experience of 17 years. Manages 12 funds at Mirae Asset Investment Managers (India) Private Limited with an AUM of approximately ₹49,768 Cr

17 years

Combined Team Experience

₹ 49,768 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

Focused Approach

The fund employs a concentrated portfolio construction approach.

Disciplined Process

Mirae Asset follows a disciplined investment process and risk management framework.

Long-Term Mindset

The fund house maintains a long-term capital allocation mindset.

Operational & Regulatory Details

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

Costs and Fees

Total Expense Ratio (TER)1.8%

Exit Load1

Regulatory & Tax Information

INF769K01ES4

ISIN

DailyDealing Frequency

BSE 500 India TR INRBenchmark

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

STCG | <1Year 20%%

Tax Implications (India)