Mirae Asset Mutual Fund appoints new fund managers for their key schemes

Investors should consider given factors while evaluating the fund's performance and suitability for their investment objectives.

Mirae Asset Mutual Fund has made a significant announcement regarding changes in fund managers for some of its schemes, effective from April 3, 2024. In the Mirae Asset Large Cap Fund, Mr. Gaurav Misra will continue as the sole fund manager, replacing Mr. Gaurav Khandelwal, while in the Mirae Asset Flexi Cap Fund, Mr. Varun Goel will take over the fund management responsibilities from Mr. Vrijesh Kasera. These changes signify the fund's commitment to ensuring effective management and optimizing returns for investors.

Mirae Asset Large Cap Fund - Regular Plan

The Mirae Asset Large Cap Fund, under the category of Large Cap Funds, is managed by Mirae Asset Mutual Fund. As of April 2nd, 2024, its NAV stands at Rs 97.052 However, it ranks relatively weakly among its peers according to CRISIL. As on February 29, 2024, it has a fund size of Rs 37,676.43 crore, constituting 12.3 per cent of the category, its expense ratio is relatively lower at 1.53 per cent, compared to the category average of 2.05 per cent.

In terms of performance, the fund has delivered a return of 26.37 per cent, notably below the benchmark Nifty 100 TRI's return of 35.73 per cent and the category average of 37.18 per cent. Investors should consider these factors while evaluating the fund's performance and suitability for their investment objectives.

Also Read: Samco Mutual Fund appoints new fund managers for Dynamic Asset Allocation Fund and Samco Overnight Fund

Mirae Asset Flexi Cap Fund - Regular Plan

The Mirae Asset Flexi Cap Fund - Regular Plan - Growth, managed by Mirae Asset Mutual Fund, was launched on February 2, 2023. Falling under the Equity: Flexi Cap category, it aims to provide investors with long-term capital growth by investing in a diversified portfolio of equity and equity-related instruments.

As of February 29, 2024, the fund has amassed total assets worth Rs 1,648.72 crore with a turnover of 22 per cent. Its Total Expense Ratio (TER) stands at 2.07 per cent as of February 29, 2024. The fund's NAV as on today is 13.549. Its Compound Annual Growth Rate (CAGR) since inception stands impressively at 31.95 per cent, outperforming its benchmark NIFTY 500 TRI which has a CAGR of 12.6 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.