Mirae Asset Large & Midcap Fund

Diversified

Equity

India Growth

Large Cap

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 Large & Midcap Fund Growth invests in large, stable Indian companies for steady long-term growth.

What This Strategy Does

Mirae Asset Large & Midcap Fund Growth is an equity flexi-cap fund which captures India's ₹100 trillion consumption and private capex opportunity through a disciplined growth-at-a-reasonable-price approach, deploying capital across financials, consumer cyclicals, and industrials to achieve broad-based earnings growth.

CW Expert Research Notes

Resilient Outcome Delivery

The fund has demonstrated resilience across market cycles, delivering top-quartile returns over the past decade through a disciplined blend of value and growth investing.

Differentiated Portfolio Construction

The fund follows a disciplined investment philosophy centered on identifying high-quality businesses with strong growth potential, robust financials, and reasonable valuations, resulting in a well-diversified portfolio balancing stability and growth across large- and mid-cap stocks.

Structural Growth Catalysts

The fund is well-positioned to benefit from structural growth trends in sectors such as financials, consumer cyclicals, and industrials, driven by the Indian economy's favorable demographics and rising consumption.

Performance and Risk Analysis

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

Fund Performance

0.6% AnnuallyAlpha

+13.4% vs +9.9% benchmarkSince Inception

+11.1% vs +6.3% benchmark3Y Annualized

+10.1% vs +6.5% benchmark5Y Annualized

Mirae Asset Large & Midcap Fund

Benchmark Index

Benchmark Performance Comparison

Mirae Asset Emerging Bluechip Fund

NIFTY 50

Risk Profile

Standard Deviation18.5%

Maximum Drawdown-19.2% | Oct 2024

Sharpe Ratio-0.03

Beta1.00

Upside Capture97%

Detailed Risks

Market Risk

Potential recession in India driven by high inflation could dampen consumer demand, impacting mid-cap earnings.

Liquidity Risk

Volatility spikes could strain liquidity for mid-cap holdings, hindering rebalancing or exits.

Concentration Risk

Concentrated exposure to Indian IT sector faces margin pressures from rising wages and attrition.

Specific Strategy Risk

Regulatory changes to data localization norms could disrupt cloud strategies of technology holdings.

Strategy Details

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

Core Investment Theme

Delivers the growth potential of India's emerging leaders through a disciplined blend of large- and mid-cap stocks. This strategy captures the stability of established market giants while participating in the upside of tomorrow's blue chips. The impact is a balanced portfolio that can compound wealth steadily across cycles while mitigating concentration risks. Suitable for investors seeking long-term growth with a moderate risk appetite.

Broader Market View

Market Outlook

Equity markets appear poised for a recovery phase, with consumption and earnings normalization supporting an attractive entry point. Sectors like consumer, financials and industrials stand to benefit from domestic demand revival and capex growth, though risks like competition and cyclicality persist.

Why This Strategy is Attractive Now

This strategy seems well-positioned with exposure across consumer, financial services and technology leaders. Its balanced ~70 holding portfolio could benefit from growth opportunities while providing stability. A moderate beta and diversification suggest risk-adjusted participation in the anticipated market upswing.

Investment Style & Process

Investment Style

The portfolio exhibits characteristics of a Quality Growth approach, emphasizing companies with durable competitive advantages, consistent earnings growth, and reasonable valuations across large and mid-cap market segments.

Why it Makes Sense

In the current environment of moderating economic growth and elevated uncertainty, a Quality Growth strategy focused on market-leading franchises with pricing power and resilient business models could offer a compelling risk-return profile.

High-Level Investment Process

Sourcing: The strategy appears to source investment candidates from a broad universe of established companies across sectors, favoring those with sustainable competitive advantages, strong balance sheets, and attractive growth runways. Selection: The selection process suggests a preference for companies with durable pricing power, efficient capital allocation, and the ability to compound earnings through cycles, balanced against reasonable valuation metrics. Construction: Portfolio construction is consistent with a diversified, conviction-weighted approach emphasizing risk management through position sizing, sector constraints, and a focus on high-quality businesses.

Portfolio Holdings Overview

SectoralAllocation

Services14.54%

Consumers16.82%

Technology6.23%

Financial Services32.03%

Energy & Infra6.31%

Utilities3.96%

Capital Goods20.11%

Geographic Allocation

Domestic100%

Top Stock Holdings

CompanySectorAllocation

HDFC Bank LtdFinancial Services6.53%

ICICI Bank LtdFinancial Services3.67%

Axis Bank LtdFinancial Services3.04%

State Bank of IndiaFinancial Services2.96%

Reliance Industries LtdEnergy & Infra2.83%

IndusInd Bank LtdFinancial Services2.56%

Laurus Labs LtdServices2.43%

Delhivery LtdCapital Goods2.21%

Tata Consultancy Services LtdTechnology2.17%

Bharat Forge LtdConsumers2.04%

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 26 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.

38 years

Combined Team Experience

₹ 1,32,736 Cr

Assets Under Management

Ankit Jain

Co-Portfolio Manager

Mr. Ankit Jain has experience of 11 years. Manages 18 funds at Mirae Asset Investment Managers (India) Private Limited with an AUM of approximately ₹61,922 Cr Holds a B.Tech degree.

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 investment philosophy centered on identifying high-quality businesses.

Fundamental Research

The fund employs fundamental bottom-up analysis combined with quantitative screening techniques.

Long-Term Focus

The fund adopts a long-term buy-and-hold approach, avoiding momentum-driven plays.

Operational & Regulatory Details

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

Costs and Fees

Total Expense Ratio (TER)1.28%

Exit Load1

Regulatory & Tax Information

INF769K01101

ISIN

DailyDealing Frequency

Nifty LargeMidcap 250 TR INRBenchmark

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

STCG | <1Year 20%%

Tax Implications (India)