Mirae Asset Mutual Fund

Headquartered in Seoul, South Korea, Mirae Asset Financial Group is one of the key players in the Asian financial market. Its asset management wing, the Mirae Asset Global Investments, commenced operation in 1997 and has expanded its business globally in a relatively short span of time. Today, Mirae Asset Mutual Fund has its presence in 14 countries spread across 5 continents. From the USA to Europe and India, Mirae Asset has been helping people invest prudently through their asset management company.

Originating in the backdrop of the Asian currency crisis, Mirae Asset began cautiously, concentrating more on the Korean market initially. Founded by the visionary Hyeon Joo Park, Mirae Asset became the first AMC to present mutual funds to retail investors back in 1998.
After consolidating its presence in the South Korean market, Mirae Asset swiftly moved to capture the global market. The first straw was the establishment of their corporate office in Hong Kong in 2003. Today, Mirae Asset has a strong presence in India, Australia, Canada, Brazil, Indonesia, the USA, the UK and Vietnam, among others.

In 2005, they launched the first overseas investment in South Korea, the Mirae Asset Retirement Pension Fund. Just two years later, they launched their business in India and the UK.
The following year, they expanded to the USA and Brazil while winning accolades for being the largest investor in the emerging Asian markets. They even penetrated the traditionally closed Chinese market as they became the first and only Korean company to set up a joint venture AMC in the country, namely Mirae Asset Huachen Fund Management.

The Indian wing of the AMC, Mirae Asset Global Investments (India) Pvt. Ltd. was launched in the November of 2007, becoming only their second overseas branch after Hong Kong. Note that Mirae Asset has been present in the Indian market since 2004 as a foreign institutional investor, but they commenced domestic business only in 2008. Currently, they handle assets worth over Rs. 30,000 Crore spread across 38 schemes in India.
Mirae Asset is considered one of the fastest growing AMCs in India. From a meagre 51,304 folios in 2013, they ballooned to over 11 Lakh in 2018, in a matter of just 5 years.

Key information

Mutual fund Mirae Asset Mutual Fund
Set up 30 November 2007
Incorporated 20 November 2006
Sponsors Mirae Asset Global Investments Co. Ltd.
Trustee Mirae Asset Trustee Company Pvt. Ltd.
MD and CEO Swarup Mohanty
CIO Neelesh Surana
Investor Service Officer Girish Dhanani
Compliance Officer Ritesh Patel

 

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Top Fund Managers

1. Mr. Swarup Mohanty

Mr. Swarup Mohanty is the incumbent Chief Executive Officer of Mirae Asset Global Investments (India Pvt. Ltd.). He joined the firm in 2011 as the Head of Sales and was elevated to his current post in February 2016.
Mr. Mohanty comes with a treasure trove of experience in investment and equity markets, having worked in various capacities in this segment for over two decades. He started his career as the Head of Fixed Deposits at Tata Finance Ltd.
He has also served brief stints at Birla Sun Life AMC and Franklin Templeton between 2007 and 2008. Immediately before joining Mirae Asset, he was employed with Religare AMC as the National Head of Sales.
Academically, Mr. Mohanty holds a B.Com degree from BJB College as well as PGDBM in Finance from Fore School of Management.

2. Mr. Neelesh Surana

Mr. Neelesh Surana is the Chief Investment Officer at Mirae Asset Global Investments (India) Ltd. He has been associated with the company for over a decade and has played a pivotal role in its ascent to the top. Before he was the Chief Investment Officer, Mr. Surana served as the Head of Equity at the firm.
As the company’s Chief Investment Officer, Mr. Suarana oversees the investment and equity research at the firm. Apart from managing the entire portfolio of funds, he is also responsible for liaising with global partners and providing them with research support for investments.
Mr. Surana has done both engineering and management courses from reputed educational institutions. Before joining Mirae Asset, Mr. Surana held the position of Senior Portfolio Manager at ASK Investment Managers Ltd.
At Mirae Asset, Mr. Surana manages 11 schemes with an estimated AuM of Rs. 24,380 Crore. He has been outperforming his peers for years with returns as high as 29%. Some of the funds that he manages include Mirae Asset Emerging Bluechip, Mirae Asset Tax Saver, Mirae Asset India Opportunities and Mirae Asset Large Cap Fund.

3. Mr. Mahendra Kumar Jajoo

The 25 years of experience that he brings to the table remains indispensable to the growth of the AMC.
Mr. Jajoo is a CA as well as CFA by qualification. He has almost 15 years of experience in the Fixed Income segment, having served as the Head of Fixed Income at multiple companies such as ABN AMRO, TAML, Prameria AMC, and MJ Investment Services.

4. Mr. Krishna Kanhaiya

Mr. Krishna Kanhaiya has been with Mirae Asset Global Investments (India) since Day 1 and has served the company in various capacities. He is currently the Chief Financial Officer at the AMC, a post he has held since January 2019. Prior to this, he was the Deputy CFO for three and a half years and the Head of Accounts, Finance, Admin and IT for over 8 years before that. He is also a permanent Member of Board Directors since October 2017.
Before his long and fulfilling career at Mirae Asset, Mr. Kanhaiya has worked at various managerial posts in companies like DBS Cholamandalam AMC, Ispat Ind. Ltd., and Hindustan Engineering & Industries Ltd., to name a few.
A registered Chartered Accountant from the Institute of Chartered Accountants of India, Mr. Kanhaiya is one of the key decision makers in the AMC and has been instrumental in shaping its growth trajectory.

Mirae Asset Tax Saver Fund Dividend

Minimum lump sum investment amount for this scheme is ₹NaN.

Mirae Asset Tax Saver Fund Growth

Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided -0.39% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹NaN.

Mirae Asset Tax Saver Fund Regular Dividend

Fund Objective: The investment objective of the scheme is to generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity related instruments. The Scheme does not guarantee or assure any returns.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided -0.88% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹NaN.

Mirae Asset Emerging Bluechip Fund Dividend

Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided 1.36% returns in the last 1 year.

Mirae Asset Tax Saver Fund Regular Growth

Fund Objective: The investment objective of the scheme is to generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity related instruments. The Scheme does not guarantee or assure any returns.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided -2.06% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹NaN.

Mirae Asset Emerging Bluechip Fund Growth

atleast Rs. 100 Crores at the time of investment.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided 0.1% returns in the last 1 year.

Mirae Asset Emerging Bluechip Fund Regular Dividend

atleast Rs. 100 Crores at the time of investment.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided 0.32% returns in the last 1 year.

Mirae Asset Large Cap Fund Dividend

Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided -0.86% returns in the last 1 year. Minimum lump sum investment amount for this scheme is ₹NaN.

Mirae Asset Emerging Bluechip Fund Regular Growth

atleast Rs. 100 Crores at the time of investment.
Why to invest: The fund has consistently beaten other funds in same category along with its benchmark and provided -0.93% returns in the last 1 year.

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