Mirae Asset Mutual Fund Crosses Rs.1 Trillion AUM
Mirae Mutual Fund, part of the Mirae group of South Korea, may not have been around as many of the bigger names. But the growth in AUM of this fund has been phenomenal. The fund started operations in India in 2008 and by 2016, the fund had AUM of just about Rs.6,495 crore. Most of the humongous growth in AUM has come after that.
The growth since 2016 has been virtually explosive. For example, between 2016 and 2021, the AUM of the Mirae AMC has grown from Rs.6,495 crore to Rs.100,841 crore. In the last 6 years, the AUM has grown at above 100% in 2 years and above 80% in 1 year. In the remaining 3 years, AUM grew at above 50%.
The overall AUM has grown almost 15-fold in the last 6 years and positions Mirae among the top 10 in terms of overall AUM and top 6 in terms of pure equity AUM. We will come to the equity story in greater detail.
Out of the total AUM of Rs.100,841 crore, equity AUM accounts for a whopping 84% while hybrid funds and debt funds account for 7% each. The balance is accounted for by ETFs. In terms of share of equity as a percentage of AUM, Mirae has the highest ratio and this growth in equity AUM has been driven by performance and consistency over the years.
The growth in AUM of Mirae has not just come from the equity market rally. Some of the folio numbers are impressive. Its investor folios have crossed 43.7 lakhs and it has a whopping 15.4 lakh SIP folios. Out of the Rs.10,300 crore of SIP flows in the month of September, Mirae alone attracted Rs.796 crore.
In a way, good performance of Mirae equity funds has pulled in a lot of long-term SIP-based funds. For example, just two of their extremely popular funds viz. Mirae Asset Large Cap and Mirae Emerging Market Blue Chip Fund have a combined AUM of around Rs.52,000 crore accounting for over half the overall AUM of Mirae.
If you look at the top-12 fund houses by AUM, most of them are either bancassurance plays or affiliated to large industrial conglomerates. The only examples of pure fund house driven AUM is of DSP and Mirae. That is what makes this milestone unique for Mirae.
Start Investing in 5 mins*
Rs. 20 Flat Per Order | 0% Brokerage
Open Free Demat Account
By proceeding, you agree to the T&C.
Our markets started the day on a positive and continued the positivity in the first hour of the trade. Nifty rallied towards 18800 but fell short to reach the level and it witnessed selling in the later part of the day. The index finally ended the day below 18650 with a loss of about half a percent.
- Jun 08, 2023
Post consolidating in a range for the last few days, Nifty resumed its uptrend and rallied higher led by broader market participation. The index surpassed the 18700 mark and ended well above that with gains of around seven-tenths of a percent.
- Jun 07, 2023
Introduction A bearer cheque is an efficient and adaptable financial tool. It is a method of payment where the cheque is made out to the owner or bearer of the document. Bearer cheques enable the holder to cash or deposit the cheque without any requirement for identification or endorsement, in contrast to other cheques payable to a specific person or business.
- Jun 06, 2023
Fill in your details below: