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Mirae Asset Mutual Fund

Mirae Asset Mutual fund was established in November 2007 with a seed capital of US$ 50 million and sponsored by Mirae Asset Global Investments Co. Limited, South Korea. The company provides multiline solutions for Wealth management, Asset Management, Investment banking and life insurance. The headquarter is at Seoul, South Korea and it has been able to spread its branches across multiple countries like in Australia, Brazil, Canada, China, Colombia, Hong Kong, India, Korea, the U.K, the U.S and Vietnam. It has the vision to expand its branches across nation as the group has been able to deliver best services and has been very much popular among the investors. With its proper market analysis and smart fiscal strategies, the group is able to maintain a stability in its growth.

Types of Mirae Asset Mutual Fund

There are 3 types of mutual funds offered by Mirae Asset Financial services. Under each category there are multiple schemes. To describe each category, below is the quick guide.

  • Equity Funds: These funds make investment in equity markets. Being dynamic, these markets offer high returns. So this is a golden opportunity for the investors to invest in this type of scheme. Here the risk is high and can change depending upon the market conditions.

  • Fixed Income Funds: Here, the risk involved is comparatively low and it provides fixed income upon the investments done in various debt vehicles. In this scheme, the investors get an option to invest either in short-term or long term plan. Instead of saving money in bank accounts you can go for this scheme. This scheme has the potential to make your investments grow.

  • Thematic Funds: This is a special type of scheme where the investment is done in open ended equity funds of a specific market segment.

Equity Funds by Mirae Asset Mutual Fund

  • Mirae Asset India Equity Fund: This scheme was earlier known as Mirae Asset India Opportunities Fund. This is an open-ended equity scheme which has a benchmark as S&P BSE 200 Index. If the investment is redeemed before a year of allotment, then 1% is charged as an exit load. In this, the minimum investment should be Rs. 5000 and the high risk is involved in this scheme.

    Investment objective: Here the aim is to create capital growth for the investors and to invest in different equity instruments.

    Suitable for: Those who want to invest in Multi cap Fund in different equity markets, they can invest in this scheme.

  • Mirae Asset Emerging Bluechip Fund: This equity scheme is open ended type with Nifty Large Mid Cap 250 Index as a benchmark. If the investment is redeemed before a year of allotment, then 1% is charged as an exit load, otherwise it’s non-chargeable. Here the risk is moderately high.

    Investment objective: Here the aim is to create capital growth by investing in equity of mid cap and large companies.

    Suitable for: Those who want a capital growth and who are willing to invest in large and mid cap companies, they can go for this scheme.

Thematic Funds by Mirae Asset Mutual Fund

  • Mirae Asset Healthcare Fund: This equity scheme is of open ended type. Here, the investments are done in equities of healthcare and allied sectors. The benchmark is set as S&P BSE Healthcare Index. If the investment is redeemed before a year of allotment then 1% is charged as an exit load. In this minimum investment should be Rs 5000, risk associated in this scheme is high.

    Investment objective: the aim is to create capital growth by investing capital in healthcare, pharma, and its allied sectors.

    Suitable for: Those who wish to invest in healthcare sector and gain capital growth, they can invest in this scheme.

  • Mirae Asset Great Consumer Fund: This is a thematic scheme with open end. Here is investment is followed by consumption. The investment yields a high return and is done in Education, autos, realty, and telecom sectors. The benchmark is S&P BSE 200 Index. If the investment is redeemed before a year of allotment, then 1% is charged as an exit load.

    Investment objective: To get capital growth by investing in stock of companies is the main goal.

    Suitable for: Those who can bear the high risk and prefer to have a capital gain by investing in stock of companies can go for the scheme.

Hybrid Funds by Mirae Asset Mutual Fund

  • Mirae Asset Hybrid Equity Fund: This scheme was previously known as Mirae Asset prudence Fund. This is an open ended scheme where investments are done in equity market, debt and money market securities. The benchmark is set as CRISIL Hybrid 35+65 aggressive Index. If the investment is redeemed before a year of allotment, then 1% is charged as an exit load. In this, the minimum investment should be Rs. 5000, and the risk associated in this scheme is high.

    Investment objective: The aim is to create capital growth by investing in equity markets.

    Suitable for: Those who want capital growth over a long-term by taking high risks can go for the scheme.

Fixed Income Funds by Mirae Asset Mutual Fund

  • Mirae Asset Short Term Fund: This is a short termed open ended scheme where investment is done in debt and money market securities. Here, the Macaulay duration is between 1 to 3 years. The benchmark is CRISIL Short term Bond Fund Index. If the investment is redeemed before a month of allotment, then 0.25% is charged as an exit load. In this, the minimum investment should be Rs. 5000, and the risk associated in this scheme is low.

    Investment objective: To gain maximal return over a short term investment in debt securities is the objective of this scheme.

    Suitable for: Those who are willing to cope up with the investment objective, they can go for the scheme.

  • Mirae Asset Dynamic Bond Fund: The benchmark is CRISIL Composite Bond Fund Index. If the investment is redeemed before 6 months of allotment, then 0.50% is charged as an exit load. In this, the minimum investment should be Rs. 5000, and the risk associated in this scheme is moderate.

    Investment objective: The scheme has the objective to offer adjusted returns by optimizing the risks. Here, the investments are done in Government securities and corporate bonds.

    Suitable for: Those who want to invest in short term and medium term to gain optimal returns can go for the scheme.

  • Mirae Asset Cash Management Fund: this is an open ended scheme where the risk is very minimal. Here the investments are done in debt and money market instruments with a 91 days maturity period. In this, the minimum investment should be Rs. 5000, with zero exit load. The benchmark is CRISIL Liquid Fund Index.

    Investment objective: To gain continuity in returns on investment in money and debt market is the motive in this scheme.

    Suitable for: Those who want to have optimal returns over shorter period can go for this scheme.

  • Mirae Asset Savings Fund: This is an open ended scheme with a short duration. Here, the risk is very low. The investments are done in debt and money market instruments with maturity period between 6-12 months. In this, the minimum investment should be Rs. 5000, with zero exit load. The benchmark is CRISIL Low Duration Debt Index.

    Investment objective: To invest in debt securities for short duration is the aim of this scheme.

    Suitable for: Those who want to invest for low duration can go for the scheme.

Tax Savings Fund by Mirae Asset Mutual Fund

  • Mirae Asset Tax Saver Fund: This is a saving scheme where the lock in period is 3 years. The investments are done in equity instruments. It has a benchmark as S&P BSE 200 Index. In this, the minimum investment should be Rs. 500 and high risk is involved in this scheme.

    Investment objective: To provide capital growth and tax benefits is the objective of this scheme.

    Suitable for: Those who want to see their capital growing over a long period of time in equity related instruments can go for this scheme.

Eligibility criteria for investment in Mirae Asset Mutual Fund

Persons and entities are eligible to invest in the asset mutual fund.

  • Resident and non-resident Indians
  • Minor supported by legal guardians
  • Undivided Hindu family
  • Financial institutions including bank, army, and air force
  • Industrial and scientific research organization
  • Charitable and religious trust
  • Vehicle designed for special purpose.
  • Sponsor associates and trustees

Documents Required for Investing in Mirae Asset Mutual Fund

You must keep the following documents ready before starting to fill the form.

  • PAN
  • KYC documents (It must be noted that the KYC documents would need PAN or address proof)
  • Address proof, which might include electricity bill, house rent bill etc.
  • Filled application form
  • Identification proof indicating the date of birth of the investors.

Investors will have to keep the original documents ready before filing the application form. Once KYC documents are approved and investors want to invest in another fund, they can do it without KYC.

How to Invest in Mirae Asset Mutual Fund

You can choose to invest in the mutual funds online or offline. If you are choosing to invest online, you will have to go to the website and choose the invest online section. Go to new investor tab, start filing the application, and follow the instruction as given on the website.

FAQs on Mirae Asset Mutual Fund

How do I buy Mirae Asset Mutual Fund plan online?

You have to go to the website and start invest online section and follow the instruction mentioned in the website.

How do I contact Mirae Asset Mutual Fund Company?

You can email on customercare@miraeasset.com or call the company on 1800-2090-777 (Toll Free). The details are also mentioned on the website.

How do I login Mirae Asset Mutual Fund Company website?

You can start logging in to the website by using your existing login information or start with a new userID for investment.

What is Mirae Asset Mutual Fund Company's Contact Number?

The contact number of Mirae Mutual Fund Company is 1800-2090-777.

Which Mirae Asset Mutual Fund scheme should I invest?

There are a variety of options available for the investors based on the need. You will find information about all the schemes on the website. Based on the investment objective investors can make a decision.

Why should I invest in Mirae Asset Mutual Fund scheme?

Asset funds offer various benefits for the investment such as returns, reliable to invest in a reputed company, diverse options to invest, regular source of income. Moreover, the investments in mutual fund are the best alternative to savings.

Will any charges apply on my withdrawal transactions?

Based on the redemption policies, the charges will be different. Different schemes will have different exit load applicable.

What is the Net Asset Value of a scheme?

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How do I redeem the units of Mirae Asset Mutual Fund?

Investors just have to submit a redemption request for the mutual funds. Once the request is approved, the amount will be given either through cheque or directly credited to your account.

Do I have to pay any charges for redemption?

You might have to pay charges for redemption based on the terms and conditions of the scheme.

Can I hold the units of Mirae Asset Mutual Fund in Demat form?

Yes, you can hold the mutual funds in demat form.

Who cannot invest in the schemes of Mirae Asset Mutual Fund?

Those who do not have all the required documents or not a resident or non-resident Indian cannot invest in the schemes of mutual fund.

Investment in mutual fund comes with certain amount of risks and return. No investor can expect to have no risk but high returns. However, carefully chosen schemes can result in a high return and low risk. Therefore, it is recommended that investors go through all the schemes offered by Mirae Asset Mutual Fund Company and choose the best policy meeting all the interest.