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Home>Mutual Funds>AMC>Mirae Asset Mutual Fund

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 its relatively short but decorated history, Mirae Asset Mutual Funds has reached several landmarks, previously unheard of from Korean AMCs. 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. 161740.88 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.

List of Mirae Asset Mutual Fund in India

Fund NameCategoryRisk1Y ReturnsRatingFund Size(in Cr)
Mirae Asset Overnight Fund
DebtLow6.8%5₹636
Mirae Asset Emerging Bluechip Fund
EquityVery High22.5%4₹30,284
Mirae Asset Tax Saver Fund
EquityVery High19.9%4₹18,842
Mirae Asset Great Consumer Fund
EquityVery High25.2%4₹4,496
Mirae Asset Equity Savings Fund
HybridModerately High15.6%4₹1,324
Mirae Asset Ultra Short Duration Fund
DebtLow to Moderate7.9%4₹1,261
Mirae Asset Liquid Fund
DebtLow to Moderate7.5%4₹10,348
Mirae Asset Cash Management Fund
DebtLow to Moderate7.2%4₹8,303
Mirae Asset Midcap Fund
EquityModerately High30.9%3₹17,787
Mirae Asset Healthcare Fund
EquityVery High43.3%3₹2,793
Mirae Asset Banking and Financial Services Fund
EquityVery High19.9%3₹1,882
Mirae Asset ELSS Tax Saver Fund
EquityVery High28.4%3₹26,417
Mirae Asset Hybrid Equity Fund
HybridVery High15.2%3₹7,936
Mirae Asset Equity Allocator FoF Fund
EquityVery High24.7%3₹896
Mirae Asset Aggressive Hybrid Fund
HybridVery High22.3%3₹9,481
View All

Key information

Mutual fund nameMirae Asset Mutual Fund
AMC Setup Date30 November 2007
AMC Incorporation Date20 November 2006
Sponsor nameMirae Asset Global Investments Co. Ltd.
Trustee organisationMirae Asset Trustee Company Pvt. Ltd.
CIONeelesh Surana
Compliance OfficerRitesh Patel
MD and CEOSwarup Mohanty
Investor Service OfficerGirish Dhanani

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How can you invest in Mirae Asset Mutual Funds?

The investment procedure at Mirae Asset Mutual Funds is entirely online. You can invest in one or more of their schemes at any time and place of your convenience. The online process also makes it completely transparent, a business principle Mirae Asset strictly adheres to.

Given below is the step-by-step process of investing in Mirae Asset Mutual Funds online. Follow this simple procedure and invest according to your convenience.

Step 1: Visit the Groww website and log in to your account. If you are a new user, you need to register first.

Step 2: Upload your KYC documents to act as proof of identity. Any government issued identity card such as Voter ID, PAN, Aadhaar, Driving License, Passport, etc. shall suffice.

Step 3: Upload documents supporting your proof of address. Along with the documents mentioned above (except PAN), you can also use your Ration card or utility bills (electric bill, water bill, house rent documents, etc.) for the purpose.

Step 4: Choose a period you would be willing to invest for. It can be short term, mid-term or long term investment.

Step 5: Choose a level of risk you are willing to take on your investment. The available options are low, medium and high risks.

Step 6: From a list of available funds that match your intent, choose the Mirae Asset Mutual Fund you’d like to invest in.

Step 7: You can either choose ‘Invest One Time’ for a substantial one-time investment or ‘Start SIP’ for SIP investment.

By following these simple steps, you can easily invest in Mirae Asset Mutual Funds online from the convenience of your home. The entire process shouldn’t take any more than a few minutes. Once you are through with all the steps, your investment is registered. It shall reflect shortly on your Groww account.

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. back in 1996 before moving over to Kotak Mahindra AMC as their Head of North and Eastern Indian operations. 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

Mr. Mahendra Kumar Jajoo is the Head of Fixed Income at Mirae Asset Global Investments (India) Pvt. Ltd., a post he has held for the last 3 years. 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.

At Mirae Asset Mutual Funds, Mr. Jajoo manages 21 schemes with a net AuM of Rs. 6,113 Crore. Some of the top performing funds under his management include Mirae Asset Cash Management Fund, Mirae Asset Savings Fund, and Mirae Asset Hybrid Equity Fund.

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.

Explore Other AMC's Schemes

  1. HDFC Balanced Advantage Fund
  2. Nippon India Small Cap Fund
  3. Canara Robeco Small Cap Fund
  4. Mirae Asset Emerging Bluechip Fund
  5. Axis Long Term Equity Fund
  6. Axis Small Cap Fund
  7. SBI Contra Fund
  8. SBI Equity Hybrid Fund Regular Growth
  9. Axis Midcap Fund
  10. Kotak Emerging Equity Fund

Let's have a closer look

Now let us jump and check about these top 15 mutual fund schemes.

Mirae Asset Overnight Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 6% & 4.97%. The Mirae Asset Overnight Fund comes under the Debt category of Mirae Asset Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Overnight Fund is ₹5,000 and for SIP, it is ₹99.

Min Investment Amt₹5,000
AUM₹636Cr
1Y Returns6.8%

Mirae Asset Emerging Bluechip Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 22.04% & 21.19%. The Mirae Asset Emerging Bluechip Fund comes under the Equity category of Mirae Asset Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Emerging Bluechip Fund is ₹1 and for SIP, it is ₹1,000.

Min Investment Amt₹1
AUM₹30,284Cr
1Y Returns22.5%

Mirae Asset Tax Saver Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 21.16% & 20.36%. The Mirae Asset Tax Saver Fund comes under the Equity category of Mirae Asset Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Tax Saver Fund is ₹500 and for SIP, it is ₹500.

Min Investment Amt₹500
AUM₹18,842Cr
1Y Returns19.9%

Mirae Asset Great Consumer Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 20.59% & 22.58%. The Mirae Asset Great Consumer Fund comes under the Equity category of Mirae Asset Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Great Consumer Fund is ₹5,000 and for SIP, it is ₹99.

Min Investment Amt₹5,000
AUM₹4,496Cr
1Y Returns25.2%

Mirae Asset Equity Savings Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 11.07% & 13.31%. The Mirae Asset Equity Savings Fund comes under the Hybrid category of Mirae Asset Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Equity Savings Fund is ₹5,000 and for SIP, it is ₹99.

Min Investment Amt₹5,000
AUM₹1,324Cr
1Y Returns15.6%

Mirae Asset Ultra Short Duration Fund Direct Growth

Fund Performance: The Mirae Asset Ultra Short Duration Fund comes under the Debt category of Mirae Asset Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Ultra Short Duration Fund is ₹5,000 and for SIP, it is ₹99.

Min Investment Amt₹5,000
AUM₹1,261Cr
1Y Returns7.9%

Mirae Asset Liquid Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 6.42% & 5.4%. The Mirae Asset Liquid Fund comes under the Debt category of Mirae Asset Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Liquid Fund is ₹5,000 and for SIP, it is ₹99.

Min Investment Amt₹5,000
AUM₹10,348Cr
1Y Returns7.5%

Mirae Asset Cash Management Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 5.2% & 5.27%. The Mirae Asset Cash Management Fund comes under the Debt category of Mirae Asset Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Cash Management Fund is ₹5,000 and for SIP, it is ₹1,000.

Min Investment Amt₹5,000
AUM₹8,303Cr
1Y Returns7.2%

Mirae Asset Midcap Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 21.37% & 28.98%. The Mirae Asset Midcap Fund comes under the Equity category of Mirae Asset Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Midcap Fund is ₹5,000 and for SIP, it is ₹99.

Min Investment Amt₹5,000
AUM₹17,787Cr
1Y Returns30.9%

Mirae Asset Healthcare Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 20.39% & 30.86%. The Mirae Asset Healthcare Fund comes under the Equity category of Mirae Asset Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Healthcare Fund is ₹5,000 and for SIP, it is ₹99.

Min Investment Amt₹5,000
AUM₹2,793Cr
1Y Returns43.3%

Mirae Asset Banking and Financial Services Fund Direct Growth

Fund Performance: The Mirae Asset Banking and Financial Services Fund comes under the Equity category of Mirae Asset Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Banking and Financial Services Fund is ₹5,000 and for SIP, it is ₹99.

Min Investment Amt₹5,000
AUM₹1,882Cr
1Y Returns19.9%

Mirae Asset ELSS Tax Saver Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 16.97% & 22.87%. The Mirae Asset ELSS Tax Saver Fund comes under the Equity category of Mirae Asset Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for Mirae Asset ELSS Tax Saver Fund is ₹500 and for SIP, it is ₹500.

Min Investment Amt₹500
AUM₹26,417Cr
1Y Returns28.4%

Mirae Asset Hybrid Equity Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 16.26% & 15.41%. The Mirae Asset Hybrid Equity Fund comes under the Hybrid category of Mirae Asset Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Hybrid Equity Fund is ₹5,000 and for SIP, it is ₹1,000.

Min Investment Amt₹5,000
AUM₹7,936Cr
1Y Returns15.2%

Mirae Asset Equity Allocator FoF Direct Growth

Fund Performance: The Mirae Asset Equity Allocator FoF Fund comes under the Equity category of Mirae Asset Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Equity Allocator FoF Fund is ₹5,000 and for SIP, it is ₹99.

Min Investment Amt₹5,000
AUM₹896Cr
1Y Returns24.7%

Mirae Asset Aggressive Hybrid Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 14.05% & 17.18%. The Mirae Asset Aggressive Hybrid Fund comes under the Hybrid category of Mirae Asset Mutual Funds.

Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Aggressive Hybrid Fund is ₹5,000 and for SIP, it is ₹99.

Min Investment Amt₹5,000
AUM₹9,481Cr
1Y Returns22.3%

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