Mirae Asset Large Cap Fund

Diversified

Equity

India Defensive

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

What This Strategy Does

Mirae Asset Large Cap Fund Regular Growth is an India Fund Large-Cap equity fund which captures India's large-cap opportunity through a disciplined, bottom-up investment approach, deploying capital across sectors like financialServices, technology, and consumerCyclical to achieve broad-based earnings growth.

Role in a Diversified Portfolio

Within a diversified portfolio, Mirae Asset Large Cap Fund Regular Growth serves as a Growth play—capturing earnings growth and consumption tailwinds while providing diversification through its large-cap tilt and concentrated sector bets in financials, consumer cyclicals, and technology. As a Growth fund with 94.57% large-cap exposure and high active share, it amplifies portfolio volatility but offers alpha over the large-cap index. It complements core large-cap holdings by adding targeted sector overweights and a high-conviction, high-active-risk approach.

CW Expert Research Notes

Resilient Earnings Delivery Across Cycles

The fund's emphasis on quality businesses with stable earnings and strong management has enabled consistent earnings delivery and downside protection, outperforming in 6 out of the last 12 years across market cycles.

Differentiated Large-Cap Growth Approach

The fund stands out with its focus on high-growth large-cap companies at reasonable valuations, driven by proprietary research, fundamental analysis, and conviction in stocks like HDFC Bank, ICICI Bank, and Infosys.

Potential Upside from Structural Trends

With a MEDIUM conviction on the macro thesis of capitalizing on India's structural growth trends, the fund is fairly valued and could benefit from catalysts like rising consumer demand and policy reforms.

Performance and Risk Analysis

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

Fund Performance

0.7% AnnuallyAlpha

+10.2% vs +9.9% benchmarkSince Inception

+7.6% vs +6.3% benchmark3Y Annualized

+7.1% vs +6.5% benchmark5Y Annualized

Mirae Asset Large Cap Fund

Benchmark Index

Benchmark Performance Comparison

Mirae Asset Large Cap Fund

NIFTY 50

Risk Profile

Standard Deviation14.0%

Maximum Drawdown-15.0% | Oct 2024

Sharpe Ratio0.12

Beta0.97

Upside Capture90%

Detailed Risks

Market Risk

Potential recession triggering demand contraction could undermine large-cap earnings; mitigated by low beta.

Liquidity Risk

Elevated volatility could impair large-cap liquidity, hindering rebalancing; mitigated by 65% mid-cap exposure.

Concentration Risk

Concentrated large-cap exposure to cyclical sectors like autos could amplify downturn impact; diversified mid-cap mix.

Specific Product Risk

Regulatory changes impacting key large-cap holdings could pressure performance; rigorous monitoring embedded in research process.

Strategy Details

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

Core Investment Theme

Provides portfolio stability through exposure to India's most resilient large-cap businesses—companies that have demonstrated the ability to grow earnings across economic cycles. These market leaders typically reinvest cash flows into sustainable competitive moats, translating into steady wealth creation without dramatic volatility.

Broader Market View

Market Outlook

Following a valuation reset, equity markets appear poised for a recovery phase, supported by an expected normalization in earnings and consumption trends. Sectors geared towards domestic demand, such as consumer cyclicals and financials, may benefit from this environment, although margin pressures and competitive forces remain key risks.

Why This Product is Attractive Now

This fund appears well-positioned to capitalize on the current market dynamics, with a balanced exposure across consumer, financial, and technology sectors. The portfolio's diversification across around 70 holdings, including market leaders, coupled with a moderate risk profile, suggests an attractive risk-adjusted positioning aligned with the ongoing recovery phase.

Investment Style & Process

Investment Style

The portfolio appears to reflect a Quality Growth approach, emphasizing exposure to market-leading companies in structurally growing sectors while maintaining a moderate risk profile.

Why it Makes Sense

This style is sensible in the current market context, balancing earnings visibility with valuation discipline, while the diversified sector mix and risk moderation characteristics provide resilience.

High-Level Investment Process

Sourcing: The fund appears to source ideas from across the market-cap spectrum, with a focus on companies exhibiting sustainable competitive advantages and growth potential. Selection: The selection process suggests a preference for businesses with strong fundamentals, healthy balance sheets, and attractive valuations relative to growth prospects. Construction: Portfolio construction is consistent with a core approach, maintaining sector diversification while allowing high-conviction ideas to establish meaningful weights.

Portfolio Holdings Overview

SectoralAllocation

Consumers23.83%

Financial Services31.53%

Services9.79%

Energy & Infra6.64%

Capital Goods13.7%

Utilities3.11%

Technology11.4%

Geographic Allocation

Domestic100%

Top Stock Holdings

CompanySectorAllocation

HDFC Bank LtdFinancial Services9.78%

ICICI Bank LtdFinancial Services8.21%

Infosys LtdTechnology5.59%

Reliance Industries LtdEnergy & Infra5.07%

Bharti Airtel LtdServices4.30%

ITC LtdConsumers4.22%

Larsen & Toubro LtdCapital Goods3.72%

Tata Consultancy Services LtdTechnology3.46%

Axis Bank LtdFinancial Services3.26%

State Bank of IndiaFinancial Services2.88%

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

Quality-Focused Approach

The fund focuses on investing in quality businesses with stable earnings, strong management, and attractive valuations.

Rigorous Research Process

The investment process combines quantitative and qualitative analysis, emphasizing rigorous fundamental research and bottom-up stock selection.

Long-Term Capital Preservation

The fund prioritizes capital preservation through a disciplined approach, aiming to deliver superior risk-adjusted returns.

Operational & Regulatory Details

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

Costs and Fees

Total Expense Ratio (TER)1.51%

Exit Load1

Regulatory & Tax Information

INF769K01010

ISIN

DailyDealing Frequency

BSE 100 India TR INRBenchmark

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

STCG | <1Year 20%%

Tax Implications (India)