Mirae Asset Management Company is changing the names and category of few of its mutual funds. Mutual funds of many Asset Management Companies are being changed after a recent circular by Securities and Exchange Board of India. This move by the regulator to make investing simpler for investors.

The new rule states that every mutual fund company can only have one mutual fund offering under each category.

Mirae Asset Mutual Fund Name & Category Changes

Few Mirae Asset Mutual Fund names are changing, few are being merged, and few funds are being recategorized.

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Mirae Asset Mutual Fund Name And Category Changes

This table contains the names of the Mirae Asset Mutual Funds whose names have changed:

Old NameNew NameOld CategoryNew Category
Mirae Asset China Advantage Fund
Mirae Asset Dynamic Bond FundMirae Asset Dynamic Bond FundDebt-Income
Mirae Asset Emerging Bluechip FundMirae Asset Emerging Bluechip FundEquity-Mid Cap
Equity-Large & Mid Cap
Mirae Asset Great Consumer FundMirae Asset Great Consumer FundEquity-Global
Mirae Asset Prudence FundMirae Asset Hybrid – Equity FundHybrid-Equity Oriented
Mirae Asset Savings FundMirae Asset Savings FundDebt-Ultra Short Term
Debt-Low Duration
Mirae Asset Tax Saver FundMirae Asset Tax Saver FundEquity-Tax – ELSSEquity-ELSS

Mirae Asset Mutual Funds Whose Names and Categories Did Not Change

Old NameNew NameOld CategoryNew Category
Mirae Asset Cash Management FundMirae Asset Cash Management FundDebt-LiquidDebt-Liquid

Mirae Asset Mutual Fund Names Changed: What should Investors do?

If Mutual Fund Name & Categories Have Changed

If there is a change in category, an investor might have to change his strategy of investment in these funds. These extreme changes are largely in equity mutual funds. Debt funds category names have changed too but there is not much difference in their investment style.

If an investor is confused, he should contact his mutual fund advisor for his advice on this issue.

If Mutual Funds Are Being Merged

If mutual funds are being merged, investors should not worry as the Asset Management company will take care of the merger. Since in the mergers, there is no real change in category, so investors need not make any changes to his investment strategy.

If Only Mutual Fund Name Has Changed

If only the name of the mutual fund scheme has changed, then there is no need to be concerned or do anything. Investors can simply continue investing as they already were.

Why are Mirae Asset India Mutual Fund Names and Categories Changing?

There are many mutual funds offered by different Asset Management Companies. Many of these are in effect duplicates of each other. Further, they also have names that might confuse and intimidate a new investor.

Keeping this in mind, the Securities Exchange Board of India has decided to recategorize mutual fund schemes. It has also made compulsory that each Asset Management Company can only have one mutual fund under each category.

Thus, all Asset Management Companies are renaming, recategorizing, and merging mutual funds to comply with this directives by the regulator.

To see the best mutual funds to invest from every category, see: The 30 Best Mutual Funds to Invest in 2018 – Groww 30.

Happy investing!

Disclaimer: the views expressed here are of the author and do not reflect those of Groww. 

Investment in securities market are subject to market risks, read all the related documents carefully before investing. Please read the Risk Disclosure documents carefully before investing in Equity Shares, Derivatives, Mutual fund, and/or other instruments traded on the Stock Exchanges. As investments are subject to market risks and price fluctuation risk, there is no assurance or guarantee that the investment objectives shall be achieved. NBT do not guarantee any assured returns on any investments. Past performance of securities/instruments is not indicative of their future performance.


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