Fund Speak October 2015
The New Formula for Smart Investing
Mirae Asset Variable Transfer Plan (VTP) Mirae Asset Variable Transfer Plan (VTP) is a facility wherein unit holders of designated open-ended Scheme of Mirae Asset Mutual Fund can opt to transfer variable amounts linked to value of investment.VTP helps investors to buy more units when the market falls and hence reduces average cost of purchase. It is a superior product than SIP/STP.
Mon-Fri: 9.30am to 5.30pm
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
MARKET UPDATE - SEPTEMBER 2015
Indian Equity Markets After a rocky path through August, September ended with further falls for Indian equities. S&P BSE Sensex ended marginally lower by 0.5% for the month and -5.4% for the quarter. The month of September was marked by significant volatility due to two important macroeconomic events. The first was the FOMC meet, expected to signal start of normalized interest rates in the US, and the 2nd being the RBI policy meeting.
Value
MTD
YTD
DJIA
16,284.70
-1.50%
-8.70%
S&P BSE Sensex
26,154.80
-0.50%
-4.90%
Nikkei
17,388.20
-8.00%
-0.10%
Shanghai
3,052.80
-4.80%
-8.90%
KOSPI
1,962.80
1.10%
1.90%
Hang Seng
20,846.30
-3.80%
-12.60%
Bovespa
45,059.30
-3.40%
-7.10%
Value
MTD
YTD
Global
India's relatively stable performance, including that of its currency, continues to draw admiring glances from international investors facing drawdowns of over 10% in developed equities and 20% in emerging equities this quarter. The Feb didn't hike interest rates citing concerns on global slowdown. In fact the language of Fed suggests, that may be in an accommodative mode for a some more time despite improving US macroeconomic data. Any hike in interest rate will be measured and gradual. RBI on the other hand surprised everyone with a larger than expected 50 bps Repo rate cut (expectations was for 25 bps). The tone suggested continued accommodation. Both the events highlight that Central bankers around the world are far more worried about slowing growth and deflation than resurgence of inflation
Source: Bloomberg, 30th September, 2015
Global
BSE Realty Index was the largest gainer this month on back of rate cut by RBI. Banks and Utilities rallied late in the month on the back of the rate cut.
S&P BSE 200
3,352.00
-0.50%
-2.40%
S&P BSE Mid – Cap
10,799.20
0.60%
6.30%
Cyclicals like Metals continued to underperform, driven by global factors.
S&P BSE Small – Cap
11,020.80
0.50%
-2.00%
Mid-caps have outperformed large caps.
CNX Mid – Cap
12,984.50
-0.60%
2.90%
FIIs sold Indian equities aggregating US$877 mn over September. However FII's CYYTD net buying aggregates to US$3.4bn.
S&P BSE Metal
6,833.70
-8.20%
-37.10%
S&P BSE FMCG
7,751.70
-0.50%
0.80%
Mutual funds and insurance companies bought equities worth US$1.3 bn and US$271 mn, respectively, over the month.
S&P BSE Auto
17,391.10
-2.70%
-7.00%
S&P BSE BANKEX
19,681.60
0.20%
-8.30%
S&P BSE Health Care
17,779.20
-1.00%
21.20%
S&P BSE Consumer Durables 10,809.60
-2.20%
11.50%
Key Events for Coming Months
Indian companies to report 2Q FY quarterly earnings. Infosys is the first large cap to report on October 12.
Bihar state elections scheduled to start on October 12. The five phase election ends on November 05. Results scheduled for November 08.
th
Source: Bloomberg, 30 September, 2015
Market Outlook With transformation in macros driven by stable government, and low commodity prices, India is a multi-year theme – investors should take a long term view while investing in equities. Equity long term investors can increase their allocation with a 3 year+ perspective. We feel Investing systematically (or stagger in tranches) is the best approach (subject to asset allocation) With the recent market correction, and S&P Sensex trading around 26,000, valuations are quite reasonable.
India's market cap / GDP is ~68%. During the peak of 2008, it was over 100% (Source: MOSL)
Based on cyclical low past earnings and expectation of high growth, markets are reasonable at ~18.5x trailing PE
We expect Earnings to pick up in the near term.
Domestic flows in equities will help support the markets
We are positive on both domestic themes as well as export oriented businesses like Pharma. Within domestic sectors, we like businesses which may benefit from the likely reduction in interest rates, margin expansion owing to fall in commodity prices, and reforms like GST, etc. Among the key overweight position in our portfolios are Consumer discretionary (like Autos, Auto ancillaries, Building materials, Private sector banks etc.), and businesses which may benefit from the revival in the Manufacturing sector.
Fund Speak | 2015.09.30
3
Mirae Asset Global Investments
MARKET UPDATE - SEPTEMBER 2015
RBI Monetary Policy
Economic News
In the recent policy release on 28-Sept-2015 the RBI did following measures:
WPI declined 4.95% and has been negative for ten months now. The consistent driver of this deflation has been global-commodity-linked non food primary goods and fuel prices. Consumer price index (CPI) for the month of August slowed down to 3.66%, marginally lower than the July's reading of 3.78% and providing a degree of headroom for the RBI's actions to stimulate the economy. CPI inflation forecast for January 2016 has also been lowered by 20 bps to 5.8% July IP at 4.2% was higher than consensus expectations of 3.6%. The surprise was led by strong growth in the Capital goods category. In contrast, consumer goods production disappointed for a second month. PMIs indicate some improvement in services vs manufacturing. August PMI Manufacturing reduced from 52.7 to 52.3; Services increased from 50.8 to 51.8 month-on-month. However GDP growth expectation for the current fiscal has been lowered by 20 bps to 7.4%.
August trade deficit was higher than consensus expectations at US$ 12.5 bn. The bulk of the surprise was owing to a surprisingly sharp increase in Gold imports. Monthly imports and exports declined 10% and 21% respectively.
Fiscal deficit over the first four months fiscal year (April to August) reached to 67% of annual target. There has been a notable increase in plan expenditure compared to the last year, reflecting Government's urgency towards investment led growth revival.
INR appreciated 1.3% vs. US$ over the month. Post the FOMC meeting, INR appreciated sharply.
India's FX reserves remained largely unchanged at US$ 329 bn over the month.
reduce the policy repo rate under the liquidity adjustment facility (LAF) by 50 basis points from 7.25 per cent to 6.75 per cent with immediate effect;
keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 per cent of net demand and time liability (NDTL);
continue to provide liquidity under overnight repos at 0.25 per cent of bank-wise NDTL at the LAF repo rate and liquidity under 14-day term repos as well as longer term repos of up to 0.75 per cent of NDTLof the banking system through auctions; and Continue with daily variable rate repos and reverse repos to smooth liquidity.
Consequently, the reverse repo rate under the LAF stands adjusted to 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 7.75 percent.
Indian Debt Markets: The global risk off sentiment and the meltdown of commodities particularly post yuan evaluation has seen emerging markets realign their focus on growth amid weakness in global economic activity and shrinking trade volumes. In this backdrop we expect RBI to ease policy rates further with following enabling conditions being supportive;
Government's active food supply management along with continued weakness in global commodity prices given China's growth concerns would continue to keep commodity price inflation benign
Slowdown in global economic activity led by China would weigh on world growth prospects delaying a strong recovery. OECD has already cut its 2015 growth forecast by 0.1% to 3.0% and 2016 forecast by 0.2% to 3.6%
Cumulative 125 bps rate cut amid weak demand for credit is expected to quicken the pace of policy transmission
Continued measures by government to revive investment cycle amid de-bottlenecking of impediments would improve the growth-inflation balance encouraging RBI to ease rates.
Subdued global commodity prices, slowdown in global economic activity, quickened pace of policy transmission led by aggressive deposit rate cuts amid continued measures by government to remove structural bottlenecks are likely to remain enabling factors encouraging additional rate cuts. There are many good announcements from foreign investors prospective. RBI has set out new limits for FII investments in government bonds, which will now be denominated in INR. Tenure
Outlook:
30-Sep-15
1 Year Bank CD
7.84%
7.35%
5 Year G SEC
7.91%
7.63%
10 Year G SEC
7.79%
7.54%
3 Years PSU Corporate Bond
8.25%
8.10%
5 Year PSU Corporate Bond
8.32%
8.22%
10 Year Corporate Bond
8.31%
8.12%
Source: Bloomberg, 30th September, 2015
The Reserve Bank of India cut the rates by 50 bps, along with rate cut and RBI also sounded accommodative in the policy statement. RBI has kept its accommodative stance guidance and that is even more positive for the bonds. The central bank is targeting a CPI inflation of 5% by January 2017 and is confident of inflation coming in below its6%target by January 2016.
Fund Speak | 2015.09.30
31-Aug-15
4
Mirae Asset Global Investments
FUND FACTS
Key Features
Mirae Asset India Opportunities Fund
Mirae Asset Emerging Bluechip Fund
Mirae Asset Prudence Fund
Mirae Asset Short Term Bond Fund
Mirae Asset Ultra Short Term Bond Fund
Type of Scheme
An open ended equity oriented scheme
An open ended equity fund
An Open Ended Equity Oriented Asset Allocation Scheme
An open ended debt scheme
An open ended debt scheme
Investment Objective
The investment objective of the scheme is to generate long term capital appreciation by capitalizing on potential investment opportunities through predominantly investing in equities, equity related securities. There is no assurance or guarantee of returns
To generate income and capital appreciation from a diversified portfolio predominantly investing in Indian equities and equity related securities of companies which are not part of the top 100 stocks by market capitalization and have market capitalization of atleast `100 Crores at the time of investment. The Scheme does not guarantee or assure any returns
The investment objective of the Scheme is to generate capital appreciation along with current income from a combined portfolio of equity & equity related instruments and debt and money market instruments. The Scheme does not guarantee or assure any returns.
The investment objective of the scheme is to seek to generate returns through an actively managed diversified portfolio of debt and money market instruments. There is no assurance or guarantee of any returns
The investment objective of the scheme is to seek to generate returns with low volatility and higher liquidity through a portfolio of debt and money market instruments. The Scheme does not guarantee any returns.
Fund Manager**
Neelesh Surana & Sumit Agrawal; both are managing this fund since May 2008 & Aug 2014 respectively.
Neelesh Surana, managing the fund since inception of the fund.
Mr. Neelesh Surana for Equity portion and Mr. Yadnesh Chavan for Debt portion. Both of them have been managing this fund since Inception.
Mr. Yadnesh Chavan, managing this fund since December 2010.
Mr. Yadnesh Chavan, managing this fund since December 2010.
Allotment Date
04th April, 2008
09th July, 2010
29th July, 2015
3 August, 2009
5 March, 2008
Benchmark Index
S&P BSE 200
CNX Midcap
CRISIL Balanced Fund Index
CRISIL Short Term Bond Fund Index
CRISIL Liquid Fund Index
Minimum Investment Amount
`5,000/- and in multiples of `1/-thereafter. Minimum Additional Application Amount: `1,000/- per application and in multiples of `1/- thereafter.
th
`10,000/- and in multiples of `1/-there after Minimum Additional Amount `1,000/per application and in multiples of `1/- thereafter.
Monthly: `1,000/- (multiples of `1/- thereafter), minimum 6 installments Quarterly: `1,500/- (multiples of `1/- thereafter), minimum 4 installments
Systematic Investment Plan (SIP) Load Structure
rd
Entry load: NA Exit load: If redeemed within 6 months (182 days) from the date of allotment: 2.00%. If redeemed after 6 months (182 days) but within 1 year (365 days) from the date of allotment: 1.00%. If redeemed after 1 year (365 days) from the date of allotment: NIL.
Plans Available
Entry Load: NA Exit Load: If redemption within 6 months (180 days) from the date of allotment 0.5%; If redemption after 6 months (180 days) from the date of allotment: Nil
Regular Plan and Direct Plan
Options Available
Entry Load: NA Exit Load: Nil
Institutional Plan and Direct Plan
Growth Option and Dividend Option (Payout & Re-investment)
Monthly Average AUM (` Cr.) as on Sep 30th, 2015
1,281.94
908.91
151.31
4.46
41.29
Monthly Avg. Expense Ratio (Including Services Tax) as on 30th September, 2015
Regular Plan: 2.41% Direct Plan: 1.58%
Regular Plan: 2.51% Direct Plan: 1.58%
Regular Plan: 2.84% Direct Plan: 1.16%
Regular Plan: 1.39% Direct Plan: 0.57%
Institutional Plan: 1.11% Direct Plan: 0.30%
Product Labelling
This product is suitable for investors who are seeking*: • Long - term capital appreciation • investments in equities, equity related securities
This product is suitable for investors who are seeking*: • Long - term capital appreciation • predominantly investments in Indian equities and equity related securities of companies which are not part of the top 100 stocks by market capitalization
This product is suitable for investors who are seeking*: • Capital appreciation along with current income over long term • Investment predominantly in equities an equity related instruments with balance exposure to debt and money market investments
This product is suitable for investors who are seeking*: • optimal returns over short to medium term • Investment in an actively managed diversified portfolio of debt and money market instruments
This product is suitable for investors who are seeking*: • optimal returns over medium term • Investment in a portfolio of debt and money market instruments
Mo
M od
de Hi rate gh
Low
Low
LOW
de Hi rate gh
h
HIGH
Investors understand that their principal will be at moderately high risk
Mo
Hig
h
Hig
LOW
t ely er a w o L
ly
t ely er a w o L
ly
M od
Riskometer
HIGH
Investors understand that their principal will be at moderately low risk
*Investors should consult their financial advisers if they are not clear about the suitability of the product.
**For experience of Fund Managers refer page no. 18
Fund Speak | 2015.09.30
5
Mirae Asset Global Investments
FUND FACTS
Mirae Asset Cash Management Fund
Key Features
Mirae Asset India-China Mirae Asset Global Consumption Fund Commodity Stocks Fund
Type of Scheme
An open ended equity oriented scheme The investment objective of the scheme is to generate long term capital appreciation through an actively managed portfolio investing in equity and equity related securities of companies that are likely to benefit either directly or indirectly from consumption led demand in India / China. The Scheme does not guarantee or assure any returns
An open ended equity fund
An open ended fund of funds scheme
The investment objective of the scheme is to generate long term capital appreciation through an actively managed portfolio investing in equity and equity related securities of companies that are engaged in commodity and commodities related sectors/sub sectors/ industries, with at least 65% of the corpus invested overseas in Asia Pacific and Emerging Markets.There is no assurance or guarantee of returns.
The investment objective of the scheme is to generate long-term capital appreciation by investing predominantly in units of Mirae Asset China Sector Leader Equity Fund and/or units of other mutual fund schemes, units of exchange traded schemes that focus on investing in equities and equity related securities of companies domiciled in or having their area of primary activity in China and Hong Kong. The Scheme may also invest a certain portion of its corpus in debt and money market securities and/or units of debt/liquid schemes of Domestic Mutual Funds, in order to meet liquidity requirements from time to time. The Scheme does not guarantee or assure any returns. China and Hong Kong. The Scheme may also invest a certain portion of its corpus in debt and money market securities and/or units of debt/liquid schemes of Domestic Mutual Funds, in order to meet liquidity requirements from time to time. The Scheme does not guarantee or assure any returns.
Fund Manager**
Neelesh Surana managing this fund since inception, Sumit Agrawal (Domestic Investments) managing this fund since August 2014 and Bharti Sawant (Overseas Investments) managing this fund since August 2014.
Gopal Agrawal is managing Bharti Sawant managing this fund since August 2014 this fund since inception & Bharti Sawant (Overseas Investments) managing this fund since August 2014.
Allotment Date
29th March, 2011
20th August, 2008
Benchmark Index
S&P India & China Weighted S&P Pan Asia Large Midcap MSCI China (in INR Terms) CRISIL Liquid Fund Index Commodity & Resources Index. Capped Index `5,000/- and in multiples of `1/-thereafter. Minimum Additional Application Amount: `1,000/- per application and in multiples of `1/- thereafter.
Investment Objective
Minimum Investment Amount Systematic Investment Plan (SIP) Load Structure
Mirae Asset China Advantage Fund
05th November, 2009
Mr. Yadnesh Chavan, managing this fund since December 2010.
12th January, 2009
NA
Entry load: NA Exit load: If redeemed within 6 months (182 days) from the date of allotment: 2.00%. If redeemed after 6 months (182 days) but within 1 year (365 days) from the date of allotment: 1.00%. If redeemed after 1 year (365 days) from the date of allotment: NIL.
Entry Load: NA Exit Load: Nil
Regular Plan and Direct Plan
Options Available
Growth Option and Dividend Option (Payout & Re-investment) 34.27
MonthlyAvg. Expense Ratio Regular Plan: 2.95% Direct Plan: 1.47% (Including ServicesTax) as on 30th September, 2015 Product Labelling
The investment objective of the scheme is to generate consistent returns with a high level of liquidity in a judicious portfolio mix comprising of money market and debt instruments. The Scheme does not guarantee any returns.
Monthly: `1,000/- (multiples of `1/- thereafter), minimum 6 installments Quarterly: `1,500/- (multiples of `1/- thereafter), minimum 4 installments
Plans Available
Monthly Average AUM (` Cr.) as on Sep 30th, 2015
An open ended debt scheme
6.86
14.87
70.15
Regular Plan: 2.88% Direct Plan: 1.75%
Regular Plan: 2.50% Direct Plan: 1.85%
Regular Plan: 1.02% Direct Plan: 0.02%
This product is suitable for investors who are seeking*: • Long - term capital appreciation • Investment predominantly in units of MACSLEF (Mirae Asset China Sector Leader Equity Fund) and / or units of other mutual fund schemes, ETFs, that focus on investing in equities and equity related securities of companies domiciled in or having there area of primary activity in China and Hong Kong.
This product is suitable for investors who are seeking*: • optimal returns over short term • Investment in portfolio of short duration money market and debt instruments
This product is suitable for This product is suitable for investors who are seeking*: investors who are seeking*: • Long-term capital appreciation • Long-term capital appreciation • Investment in equity and, equity related securities of • Investment in equity and, companies that are equity related securities of engaged in commodity and companies benefiting commodities related directly or indirectly from sectors / sub sectors / consumption led demand industries, with at least 65% in india / china. of the corpus invested overseas in Asia Pacific and Emerging Markets.
Mo
M od
de Hi rate gh
Low
Low
LOW
e Hi rate gh
h
h
HIGH
Investors understand that their principal will be at high risk
PRODUCT LABEL Mo d
Hig
Hig
LOW
t ely er a w Lo
ly
t ely er a w Lo
ly
M od
Riskometer
HIGH
Investors understand that their principal will be at low risk
*Investors should consult their financial advisers if they are not clear about the suitability of the product.
**For experience of Fund Managers refer page no. 18
Fund Speak | 2015.09.30
6
Mirae Asset Global Investments
MIRAE ASSET INDIA OPPORTUNITIES FUND - (MAIOF) (An open ended equity oriented scheme) Monthly Factsheet as on September 2015
Fund Information Fund Manager
Fund Performance
Neelesh Surana and Sumit Agrawal
120%
Allotment Date
4th April, 2008
100%
Benchmark Index
S&P BSE 200
80%
Net AUM (` Cr.)
1,329.95
60%
Net Asset Value (NAV): Regular Plan
Growth Option Dividend Option
Direct Plan
Growth Option Dividend Option
0.91
R Squared
0.92
Sharpe Ratio #
0.61
27-Jan-14
1.20 per unit
10
CY2009
CY 2010
CY 2011
CY 2012
% Allocation
3%
8%
3%
CY 2013
CY 2015 (YTD)
CY 2014
Allocation - Top 10 Sectors^
Equity Shares
Dividend History
13-Feb-15
8%
-20% -25% -27%
Portfolio Top 10 holdings
0.59 times
Face Value (`) 10
17% 15%
35% 30%
25%
Past Performance may or may not be sustained in future. * Since inception of the fund.
1.78
Dividend (`) 1.60 per unit
31%
-2% -5%
-40% -33% -37% -39% -60% CY 2008*
@ Please refer last page for details.
Record Date
22%
-20%
15.58%
Beta
Portfolio Turnover Ratio^
52% 33%
0%
Ratios@ (Annualised)
Information Ratio
76%
20%
` 24.532
Volatility
S&P BSE SENSEX
84%
40% ` 32.097 ` 17.898 ` 32.940
S&P BSE 200
MAIOF
104%
Banks
HDFC Bank Ltd
7.30%
ICICI Bank Ltd
5.32%
Infosys Ltd
Cum NAV (`) 19.709 13.196
5.09%
Software
11.50%
Cons. N-Durables
9.54% 9.44%
Maruti Suzuki India Ltd
4.63%
Pharmaceuticals
Indusind Bank Ltd
3.85%
Auto
3.59%
Petrol Products
3.37%
Auto Ancillaries
4.33%
Const Project
4.17%
14-Mar-13
1.40 per unit
10
13.559
Tata Consultancy Services Ltd
22-Mar-12
1.50 per Unit
10
13.376
Sun Pharmaceuticals Industries Ltd
10-Dec-10
1.50 per Unit
10
13.978
Hindustan Petroleum Corporation Ltd
3.13%
09-Sep-09
0.90 per Unit
10
12.039
ITC Ltd
3.07%
Reliance Industries Ltd
2.96%
Past Performance may or may not sustained in future. Pursuant to payment of dividend the NAV of the dividend option of the scheme will fall to the extent of payout and statutory levy (if applicable). Dividend history is for MAIOF - Regular Plan Dividend Option
24.65%
Other Equities
56.22%
Equity Holding Total
98.55%
Cash & Other Receivables
100.00%
6.22%
Finance
3.58%
Cement
2.84%
Other Sectors
1.45%
Total
6.42%
15.85% 0%
10%
20%
30%
^Industrywise classification as recommended by AMFI
Performance Report Period 30th September 2014 - 30th September 2015 30th September 2013 - 30th September 2014 30th September 2012 - 30th September 2013 Since Inception (CAGR) - 30th September 15 Since Inception - 30th September 15 (Value INR)~ Index Value (30th September, 2015) Date of allotment Scheme Benchmark
NAV (` per unit)
Returns S&P BSE 200 3.08% 42.50% -1.11% 7.88% 17,655
MAIOF 10.75% 64.63% -0.42% 16.84% 32,097
32.097 28.981 17.604 32.097 32.097
S&P BSE Sensex** -1.79% 37.41% 3.29% 7.38% 17,047
Index Value of S&P BSE 200 is 3352.02 and Index value of S&P BSE SENSEX is 26154.83 4th April, 2008 S&P BSE 200
SIP Performance SIP Investment Total Amount Invested Mkt Value as of 30th September, 2015 Fund Return (CAGR)*(%) Benchmark Return (CAGR)*(%) (S&P BSE 200) Add. Benchmark Return (CAGR)*(%) (S&P BSE Sensex)
Since Inception 89,000 193,171 20.44% 11.56% 10.32%
5 Years 60,000 99,074 20.18% 11.56% 9.76%
3 Years 36,000 51,046 24.09% 13.03% 9.65%
1 Year 12,000 12,076 1.19% -7.29% -11.11%
Past Performance may or may not sustained in future. Note : For computation of since inception returns (%) the allotment NAV has been taken as `10.00. The performance of other funds managed by the same fund managers are given in the respective page of the schemes and on page No.16 & 17 ~Value of Investment of ` 10,000/- Invested in the Scheme.**Additional Alternate Benchmark. *The SIP returns are calculated by XIRR approach assuming investment of `1000/- on the 1st working day of every month. All the performances shown on this page are for MAIOF - Regular Plan - Growth Option
Fund Speak | 2015.09.30
7
Mirae Asset Global Investments
MIRAE ASSET EMERGING BLUECHIP FUND - (MAEBF) (An open ended equity fund) Monthly Factsheet as on September 2015
Fund Information
Fund Performance
Fund Manager
Neelesh Surana
Allotment Date
9th July, 2010
Benchmark Index
CNX Midcap
Net AUM (` Cr.)
952.01
Growth Option Dividend Option
Direct Plan
Growth Option Dividend Option
80% 60% 40% 20%
` 28.675
0%
0.76
R Squared
0.85
Sharpe Ratio #
1.57
Information Ratio
1.86
08-Dec-14 18-Mar-14
1.20 per Unit
10
14.959
29-Oct-12
1.10 per Unit
10
12.912
-5%
-31%
-25%
CY 2011
CY 2012
CY 2013
CY 2014
CY 2015 (YTD)
Past Performance may or may not be sustained in future. * Since inception of the fund.
Portfolio Top 10 holdings
Dividend History Cum NAV (`) 22.991
3%
-6%
% Allocation
Allocation - Top 10 Sectors^
Equity Shares
Face Value (`) 10
9%
-16%
CY 2010*
0.71 times
Dividend (`) 1.80 per Unit
8%
8%
7%
-40%
@ Please refer last page for details.
Record Date
13%
15%
-20%
Beta
30%
25%
` 30.513 ` 23.619 ` 31.387
14.75%
Portfolio Turnover Ratio^
55%
46% 40%
Ratios@ (Annualised) Volatility
BSE S&P SENSEX
84%
Net Asset Value (NAV): Regular Plan
CNX MIDCAP
MAEBF
100%
Banks
Kotak Mahindra Bank Ltd
4.00%
Hindustan Petroleum Corporation Ltd
3.46%
Natco Pharma Ltd
Past Performance may or may not sustained infuture. Pursuant to payment of dividend the NAV of the dividend option of the scheme will fall to the extent of payout and statutory levy (if applicable). Dividend history is for MAEBF - Regular Plan Dividend Option
Cons. N-Durables
3.07%
9.51% 9.12%
Torrent Pharmaceuticals Ltd
3.05%
Amara Raja Batteries Ltd
2.95%
Auto Ancillaries
Gateway Distriparks Ltd
2.70%
Software
Sundaram Finance Ltd
2.65%
Finance
Indusind Bank Ltd
2.45%
Voltas Ltd
2.37%
Britannia Industries Ltd
2.33%
Other Equities
69.75% 98.77%
Cash & Other Receivables
Chemicals Petrol Products Transportation
100.00%
8.52% 7.27% 6.52% 5.48% 4.75% 3.74%
Other Sectors
1.23%
Total
10.23%
Ind Products Pharmaceuticals
Total Equities
13.92%
0%
19.70% 5% 10% 15% 20% 25%
^Industrywise classification as recommended by AMFI
Performance Report Period 30th September 2014 - 30th September 2015 30th September 2013 - 30th September 2014 30th September 2012 - 30th September 2013 Since Inception (CAGR) - 30th September 15 Since Inception - 30th September 15 (Value INR)~ Index Value (30th September, 2015) Date of allotment Scheme Benchmark
NAV (` per unit)
Returns CNX Midcap 13.72% 63.17% -10.75% 8.93% 15,642
MAEBF 22.66% 100.48% -3.48% 23.78% 30,513
30.513 24.876 12.408 30.513 30.513
S&P BSE Sensex** -1.79% 37.41% 3.29% 7.60% 14,666
Index Value of CNX Midcap Index is 12984.5 and Index value of S&P BSE SENSEX is 26154.83 9th July, 2010 CNX Midcap
SIP Performance SIP Investment Total Amount Invested Mkt Value as of 30th September, 2015 Fund Return (CAGR)*(%) Benchmark Return (CAGR)*(%) (CNX Midcap) Add. Benchmark Return (CAGR)*(%) (S&P BSE Sensex)
Since Inception 62,000 134,977 30.60% 16.19% 9.60%
5 Years 60,000 129,236 31.29% 16.78% 9.76%
3 Years 36,000 62,860 39.85% 23.20% 9.65%
1 Year 12,000 12,784 12.38% 2.76% -11.11%
Past Performance may or may not sustained in future. Note : For computation of since inception returns (%) the allotment NAV has been taken as `10.00. The performance of other funds managed by the same fund managers are given in the respective page of the schemes and on page No.16 & 17 ~Value of Investment of ` 10,000/- Invested in the Scheme.**Additional Alternate Benchmark. *The SIP returns are calculated by XIRR approach assuming investment of `1000/- on the 1st working day of every month. All the performances shown on this page are for MAEBF - Regular Plan - Growth Option
Fund Speak | 2015.09.30
8
Mirae Asset Global Investments
MIRAE ASSET PRUDENCE FUND - (MAPF) (An open ended equity oriented scheme) Monthly Factsheet as on September 2015
Portfolio Top 10 holdings
Fund Information Fund Manager
Mr. Neelesh Surana (Equity Portion) & Mr. Yadnesh Chavan (Debt Portion)
Allotment Date
29th July, 2015
Benchmark Index
CRISIL Balanced Fund Index
Net AUM (` Cr.)
157.40
Net Asset Value (NAV): Growth Option Dividend Option
Regular Plan
Growth Option Dividend Option
Direct Plan
` 9.770 ` 9.770 ` 9.789 ` 9.789
*
Ratios (Debt Portion) @ (Annualised) Weighted Average Maturity Modified Duration Yield to Maturity
6.49 Years 4.73 7.95%
@ Please refer last page for details.
Investment Philosophy: The portfolio will comprise of Equity & Equity related instruments and Debt and Money market instruments. The portfolio will be mix of Equity for growth and Debt for stability, the asset allocation between Equity and Debt will be function of Valuation, Earnings Growth and Interest Rate Outlook. The portfolio will be a large cap biased. We will follow bottom-up Stock selection process and there will be no bias towards any sector/themes.
% Allocation
Equity Shares (Domestic & International Equities)
Allocation - Top 10 Sectors^ Banks
HDFC Bank Ltd
5.59%
Cons. N-Durables
Infosys Ltd
4.72%
Software
ICICI Bank Ltd
4.18%
Pharmaceuticals
ITC Ltd
4.08%
Reliance Industries Ltd
3.92%
Maruti Suzuki India Ltd
3.71%
Tata Consultancy Services Ltd
2.96%
Sun Pharmaceuticals Industries Ltd
2.79%
18.50% 10.48% 8.62% 6.79%
Petrol Products
5.83%
Auto
5.22%
Media & Ent.
2.31%
Finance
2.31%
State Bank of India
2.64%
Ind Products
Indusind Bank Ltd
2.38%
Const Project
Other Equities
34.13%
Other Sectors
Total Equity Allocation
71.10%
2.22% 1.97% 6.86% 0%
5% 10% 15% 20% 25%
Corporate Bond NABARD (22/06/2020)
6.41%
Power Grid Corporation of India Ltd (27/05/2020)
3.21%
Power Finance Corporation Ltd (07/08/2019)
3.21%
Corporate Bond Total
^Industrywise classification as recommended by AMFI
12.82%
Government Bond 8.40% GOI (MD 28/07/2024)
6.62%
7.72% GOI (MD 25/05/2025)
3.22%
Government Bond Total
9.83%
Total Debt Holdings
22.66%
Cash & Other Receivables
6.24%
Total
100.00%
Investment Strategy For the equity portion • We will invest in larger companies which may provide stability to the fund • Diversified portfolio of strong growth companies at reasonable price • May not have bias towards any theme or style For the debt portion • Portfolio will be actively managed • Top down approach for taking interest rate view and sector allocation view • Bottom up approach for security/instrument selection • Majorly to invest in Certificate of Deposits, Commercial Papers, Corporate and Government Securities of varying maturities
Overall Asset Allocation
6.24%
22.66%
71.10%
Equity Holdings
Debt Holdings
Cash & Other Receivables
Fund Speak | 2015.09.30
9
Mirae Asset Global Investments
MIRAE ASSET INDIA CHINA CONSUMPTION FUND - (MAICCF) (An open ended equity oriented scheme) Monthly Factsheet as on September 2015
Portfolio Top 10 holdings
Fund Information Fund Manager
Neelesh Surana, Sumit Agrawal and Bharti Sawant
Allotment Date
29th March, 2011
Benchmark Index
S&P India & China Weighted Index
Net AUM (` Cr.)
34.82
Net Asset Value (NAV): Regular Plan
Growth Option Dividend Option
Direct Plan
Growth Option Dividend Option
` 21.192 ` 15.476 ` 21.884 ` 21.836
@
Ratios (Annualised) Volatility
12.78%
HDFC Bank Ltd
8.59%
Maruti Suzuki India Ltd
5.29%
ICICI Bank Ltd
5.07%
Indusind Bank Ltd
4.20%
ITC Ltd
3.79%
Asian Paints Ltd
3.69%
Tencent Holdings
3.39%
Amara Raja Batteries Ltd
3.31%
Britannia Industries Ltd
3.14%
Hindustan Petroleum Corporation Ltd
3.13%
Other Equities
55.57%
Total Equity Allocation
99.16%
0.83
R Squared
0.75
Cash & Other Receivables
Sharpe Ratio
1.10
Total
Allocation - Top Holdings Domestic Equities Sectoral Allocation^ (Top 5 holdings)
Equity Shares (Domestic & International Equities)
Beta
Portfolio Turnover Ratio^
% Allocation
Cons. N-Durables
Banks
20.58%
Auto
7.87%
Transportation
4.27%
Auto Ancillaries
3.31%
Other Sectors
17.12%
0%
0.84% 100.00%
24.56%
10%
20%
30%
^Industrywise classification as recommended by AMFI
0.64 times
@ Please refer last page for details.
Country Allocation Dividend History
18-Mar-15
Dividend (`) 2.00 per Unit
Face Value (`) 10
Cum NAV (`) 18.302
20-Mar-13
1.30 per Unit
10
12.287
11-Dec-13
1.10per Unit
10
13.026
Record Date
0.84% Internet & Services 21.43%
6.04%
Life & Health Ins.
Past Performance may or may not sustained infuture. Pursuant to payment of dividend the NAV of the dividend option of the scheme will fall to the extent of payout and statutory levy (if applicable). Dividend history is for MAICCF - Regular Plan Dividend Option
5.21%
Pharmaceuticals
3.83%
Luxury Goods 77.72%
Investment Philosophy: The fund gives investors a chance to invest in two of the world’s fastest growing countries in one go, with India portion being more than 65% of the total portfolio. The fund invests in sectors which may benefit directly or indirectly from consumption led demand in India and China. The investment is focused on businesses which have sustainable competitive advantages as is reflected in the return on investment, growth profile, etc.
Allocation - Top Holdings International Equities Sectoral Allocation^ (Top 5 holdings)
Computer Hardware
2.50%
0.98%
Other Sectors India
China
0%
Cash & Other Receivables
2.87% 2%
4%
6%
8%
^Industrywise classification as recommended by AMFI
Performance Report Period th
th
30 September 2014 - 30 September 2015 30th September 2013 - 30th September 2014 30th September 2012 - 30th September 2013 Since Inception(CAGR)- 30th September 15 Since Inception - 30th September 15 (Value INR)~ Index Value ( 30th September, 2015) Date of allotment Scheme Benchmark#
NAV at the end of the period (` per unit)
Returns
21.192 19.255 13.527 21.192 21.192
MAICCF
Scheme Benchmark#
S&P BSE Sensex**
10.06% 42.34% 9.72% 18.12% 21,192
0.66% 26.00% 19.11% 15.19% 18,921
-1.79% 37.41% 3.29% 7.19% 13,679
Index Value of benchmark is 197.06 and Index value of S&P BSE Sensex is 26,154.83 29th March, 2011 S&P India & China Weighted Index
Past Performance may or may not sustained in future. Note : For computation of since inception returns (%) the allotment NAV has been taken as `10.00. The performance of other funds managed by the same fund managers are given in the respective page of the schemes and on page No.16 & 17 ~ Value of Investment of ` 10,000/- Invested in the Scheme.**Additional Alternate Benchmark. All the performances shown on this page are for MAICCF - Regular Plan - Growth Option
Fund Speak | 2015.09.30
10
Mirae Asset Global Investments
MIRAE ASSET GLOBAL COMMODITY STOCKS FUND - (MAGCSF) (An open ended equity fund) Monthly Factsheet as on September 2015
Portfolio Top 10 holdings
Fund Information
% Allocation
Fund Manager
Gopal Agrawal and Bharti Sawant
Equity Shares (Domestic & International Equities
Allotment Date
20th August, 2008
Reliance Industries Ltd
Benchmark Index
S&P Pan Asia Large Midcap Commodity & Resource Capped Index
BHP Billiton Ltd
8.87%
Oil & Natural Gas Corporation Ltd
8.36%
Cnooc Ltd
6.42%
China Petroleum -H-
6.05%
Petrochina Company Ltd
5.80%
Rio Tinto Ltd
5.07%
Coal India Ltd
4.73%
Woodside Petroleum Ltd
4.66%
Net AUM (` Cr.)
6.58
Net Asset Value (NAV): Regular Plan
Growth Option Dividend Option Growth Option Dividend Option
Direct Plan
` 8.373 ` 8.373 ` 8.564 ` 8.505
12.18%
AMCOR LIMITED
Ratios @ (Annualised) Volatility
18.10%
4.47%
Other Equities
32.74%
Equity Total
99.35%
Beta
0.89
Cash & Cash Equivalents
R Squared
0.78
Total
Sharpe Ratio#
Petroleum Products
100.00%
15.28%
Oil
10.48%
Minerals/Mining
4.73%
Non - Ferrous Metals
0%
0.65%
-0.65
Portfolio Turnover Ratio^
Domestic Equities Sectoral Allocation ^
3.73%
5%
10%
15%
20%
^Industrywise classification as recommended by AMFI
0.02 Times
@ Please refer last page for details.
Country Allocation
International Equities Sectoral Allocation ^
Investment Philosophy: Oil & Gas 5.
46
2.80% % 2.53 7% 2.9
The Fund offers investors access to commodity as an asset class by way of investments into commodity stocks of leading global companies involved directly or indirectly with the commodities business. The fund primarily invests in stocks in Asia Pacific markets and emerging markets thus offering investors an avenue to diversify beyond local boundaries.
16.67%
Metals & Mining
%
15.39%
34.23%
Integrated Oil & Gas
13.86%
21.82%
Paper Packaging
5.23%
Construction Materials
4.78%
29.53%
Others Hong Kong
India
Australia
China
Papua New Guinea
0%
Korea Others
9.18% 5%
10%
15%
20%
^Industrywise classification as recommended by GICS.
Performance Report Period th
th
30 September 2014 - 30 September 2015 30th September 2013 - 30th September 2014 30th September 2012 - 30th September 2013 Since Inception (CAGR) - 30th September 15 Since Inception - 30th September 15 (Value INR)~ Index Value ( 30th September, 2015) Date of allotment Scheme Benchmark#
NAV at the end of the period (` per unit)
Returns MAGCSF
8.373 12.686 12.111 8.373 8.373
-34.00% 4.75% 2.19% -2.46% 8,373
Scheme Benchmark#
S&P BSE Sensex**
-29.61% 9.67% -15.46% -2.21% 8,528
-1.79% 37.41% 3.29% 8.46% 17,819
Index Value of benchmark is 79.29 and Index value of S&P BSE Sensex is 26,154.83 20th August, 2008 S&P Pan Asia Large Midcap Commodity & Resource Capped Index
Past Performance may or may not sustained in future. Note : For computation of since inception returns (%) the allotment NAV has been taken as `10.00. The performance of other funds managed by the same fund managers are given in the respective page of the schemes and on page No.16 & 17 ~ Value of Investment of ` 10,000/- Invested in the Scheme.**Additional Alternate Benchmark. All the performances shown on this page are for MAGCSF - Regular Plan - Growth Option
Fund Speak | 2015.09.30
11
Mirae Asset Global Investments
MIRAE ASSET CHINA ADVANTAGE FUND - (MACAF) (An open ended fund of fund scheme) Monthly Factsheet as on September 2015
Portfolio Top 10 holdings
Fund Information
% Allocation
(Underlying Fund)
Fund Manager
Bharti Sawant
Mutual Fund Units & ETF
Allotment Date
05th November, 2009
Benchmark Index
MSCI China (in INR Terms)
Mirae Asset China Sector Leader Equity Fund
99.13%
Net AUM (` Cr.)
14.60
Total Allocation to International Mutual Fund Units
99.13%
Regular Plan
Growth Option Dividend Option
Direct Plan
Growth Option Dividend Option
Total ` 13.031 ` 13.031 ` 13.293 ` 13.257
Financial
26.50%
0.87%
Cons. Discretionery
100.00%
Healthcare
9.00%
Utilities
8.70%
Portfolio Holdings of Underlying Fund as on 31st July, 2015 *Equity Shares
11.30%
Industrial
Tencent
9.30%
Ping An Insurance
8.80%
Energy
China Life Insurance Co. Ltd. Class H
6.80%
Cash
Xinyi Solar Holdings Ltd.
6.10%
ICBC
5.10%
Baidu, Inc. Sponsored ADR Class A
4.50%
Investment Philosophy:
Alibaba Group Holding Ltd. Sponsored ADR
4.50%
The Fund invests in an underlying fund, which invests in equities of sector leading companies domiciled in, or exercising a large portion, of their economic activity in China and Hong Kong. The fund gives investors an opportunity to invest in China companies with high investment potential. The emphasis on market leaders gives the fund a bias towards large/mid-cap names. Fund is positioned to take advantages of the growth opportunities related to the secular and structural changes in China.
Great Wall Motor Co., Ltd.
4.30%
China Resources Gas Group Limited
3.90%
Sands China
3.60%
Ratios@ (Annualised) Volatility
20.09%
Beta
0.75
R Squared
0.75
Sharpe Ratio#
0.29
@ Please refer last page for details.
31.90%
IT
Cash & Other Receivables
Net Asset Value (NAV):
Allocation - Top 10 Sectors^
5.00% 2.50%
0%
5.00% 10%
20%
30%
40%
^Industrywise classification as recommended by GICS.
Market Capitalization Allocation
Others
(Figures in USD Billion)
50.70
Large Cap: (USD > 10B)
43.10%
Total
100.00%
The underlying Fund Holdings are given with a 2 month lag as per the internal portfolio holding release guidelines for SICAV Funds
39.20
Mid Cap: (USD 2 - 10B)
Small Cap: (USD < 2B)
5.10
Cash
5.00
Performance Report Period 30th September 2014 - 30th September 2015 30th September 2013 - 30th September 2014 30th September 2012 - 30th September 2013 Since Inception (CAGR) - 30th September 15 Since Inception - 30th September 15 (Value INR)~ Index Value ( 30th September, 2015) Date of allotment Scheme Benchmark
NAV at the end of the period (` per unit)
Returns MACAF
13.031 13.383 13.129 13.031 13.031
-2.63% 1.93% 27.08% 4.59% 13,031
MSCI China(INR) -1.80% -1.95% 32.00% 3.99% 12,596
S&P BSE Sensex** -1.79% 37.41% 3.29% 8.61% 16,282
Index value for benchmark is 483.21 and Index value of S&P BSE Sensex is 26,154.83 05th November, 2009 MSCI China(INR)
Past Performance may or may not sustained in future. Note : For computation of since inception returns (%) the allotment NAV has been taken as `10.00. The performance of other funds managed by the same fund managers are given in the respective page of the schemes and on page No.16 & 17 ~ Value of Investment of ` 10,000/- Invested in the Scheme.**Additional Alternate Benchmark. All the performances shown on this page are for MACAF - Regular Plan - Growth Option
Fund Speak | 2015.09.30
12
Mirae Asset Global Investments
MIRAE ASSET CASH MANAGEMENT FUND - (MACMF) (An open ended liquid scheme) CRISIL AAAmfs Rated ~ Monthly Factsheet as on September 2015
Portfolio Top 10 holdings
Fund Information
% Allocation
Fund Manager
Mr. Yadnesh Chavan
Certificate of Deposit
Allotment Date
12th January, 2009
Corporation Bank (03/11/2015)
30.58%
Benchmark Index
Crisil Liquid Fund Index
Oriental Bank of Commerce (27/11/2015)
13.77%
Net AUM (` Cr.)
71.79
South Indian Bank Ltd (15/10/2015)
6.94%
IDBI Bank Ltd (27/10/2015)
6.93%
IDBI Bank Ltd (09/11/2015)
6.91%
Net Asset Value (NAV): Regular Plan Direct Plan
Growth Option Growth Option
` 1535.2767 ` 1544.1653
ING Vysya Bank Ltd (01/10/2015)
Rating Profile
7.10%
6.96%
Certificate of Deposit Total
72.09%
Commercial Paper
Ratios@ (Annualised) Weighted Average Maturity
28.23 Days
Modified Duration
0.08 Years
Yield to Maturity
7.53%
@ Please refer last page for details.
Dividend History
6.95%
HDFC Ltd Ltd (16/10/2015)
6.94%
HDFC Ltd (02/11/2015)
6.92%
Commercial Paper Total
20.81%
CBLO / Repo
14.07%
Net Receivables / (Payables)
-6.97%
Cash & Other Receivables Total
24-Jul-15
Dividend Face Cum (`) Value (`) NAV (`) 5.0998 Per Unit 1000 1,150.6497
24-Aug-15
4.8194 Per Unit
1000
1,150.6126
24-Sep-15
4.3911 Per Unit
1000
1,150.3396
Record Date
HDFC Ltd (12/10/2015)
92.90%
A1+
Cash & Other Receivables
7.10%
Total
100.00%
Allocation
Past Performance may or may not sustained infuture. Pursuant to payment of dividend the NAV of the dividend option of the scheme will fall to the extent of payout and statutory levy (if applicable). Dividend history is for MACMF - Regular Plan Dividend Option
7.10%
20.81%
Investment Strategy The fund is positioned at the low end of the risk return scale • Product offering with minimal interest rate risk • Maintaining High Liquidity: Since the underlying investments will be in Bank CDs, Overnight instruments / CBLO and other debt instruments linked to short end rates, the fund manager can redeem instruments at a short notice • We will try to maintain average maturity of around 20 - 60 days. *This scheme is not an assured returns scheme.
72.09%
Certificate of Deposits
Commercial Paper
Cash & Other Receivables
Performance Report Period th
Last 7 Days till 30 September 2015 th Last 15 Days till 30 September 2015 th Last 30 Days till 30 September 2015 th th 30 September 2014 - 30 September 2015 th th 30 September 2013 - 30 September 2014 th th 30 September 2012 - 30 September 2013 th Since Inception (CAGR) - 30 September 15 th Since Inception - 30 September 15 (Value INR)~ Index Value (30th September, 2015) Date of allotment Scheme Benchmark
NAV at the end of the period (` per unit)
Returns MACMF
CRISIL Liquid Fund Index
1535.2767 0.11% 0.19% 1535.2767 0.25% 0.37% 1535.2767 0.52% 0.66% 1535.2767 8.11% 8.56% 1420.1079 8.86% 9.49% 1304.5385 7.92% 8.54% 1535.2767 6.59% 7.56% 1535.2767 15,352.77 16,319.46 Index Value of benchmark is 2,414.65 and Index value of Crisil 1 Year T-Bill is 4,305.26 12th January, 2009 CRISIL Liquid Fund Index
Crisil 1 Year T-Bill** 0.37% 0.56% 0.87% 8.86% 8.35% 5.65% 6.05% 14,839.28
Past Performance may or may not sustained in future. $ For computation of since inception returns (%) the allotment NAV has been taken as ` 1000.00. Returns (%) for less than 1 year calculated on simple annualized basis . The performance of other funds managed by the same fund managers are given in the respective page of the schemes and on page No. 18. ** Additional Alternate Benchmark.* Value of Investment of ` 10,000/- Invested in the Scheme. All the performances shown on this page are for MACMF - Regular Plan - Growth Option
Fund Speak | 2015.09.30
13
Mirae Asset Global Investments
MIRAE ASSET ULTRA SHORT TERM BOND FUND - (MAUSTBF) (An open ended debt scheme) Monthly Factsheet as on September 2015
Portfolio Top 10 holdings
Fund Information
% Allocation
Fund Manager
Mr. Yadnesh Chavan
Certificate of Deposit
Allotment Date
5th March, 2008
UCO Bank (05/10/2015)
13.23%
Benchmark Index
Crisil Liquid Fund Index
Andhra Bank (09/08/2016)
12.46%
Andhra Bank (04/03/2016)
11.56%
Net AUM (` Cr.)
37.75
IDBI Bank Ltd (05/11/2015)
9.99%
Bank of India (09/06/2016)
9.08%
Corporation Bank (03/11/2015)
7.63%
Certificate of Deposit - Total
63.95%
Net Asset Value (NAV): Institutional Plan Direct Plan
Growth Option Growth Option
` 1283.9983 ` 1310.2215
Weighted Average Maturity
HDFC Ltd (07/04/2016) 110 Days
Modified Duration
0.30 Years
Yield to Maturity
7.38%
@ Please refer last page for details.
Corporate Bond Total
11.99%
CBLO / Repo
23.28%
Net Receivables / (Payables)
0.78%
Total
24-Jul-15
Dividend Face Cum (`) Value (`) NAV (`) 4.1025 per unit 1000 1087.2274
24-Aug-15
4.0274 per unit
1000
1087.7430
24-Sep-15
3.5907 per unit
1000
1087.6907
Record Date
63.95%
11.99%
Cash & Other Receivables - Total
Dividend History
24.06%
11.99%
Corporate Bond
Ratios@ (Annualised)
Allocation
24.06%
Certificate of Deposits
Corporate Bond
Cash & Other Receivables
100.00%
Past Performance may or may not sustained infuture. Pursuant to payment of dividend the NAV of the dividend option of the scheme will fall to the extent of payout and statutory levy (if applicable). Dividend history is for MAUSTBF - Regular Plan Dividend Option
Investment Strategy •
•
•
•
MAUSTBF is positioned between liquid funds and short-term plans with respect to the risk-return matrix. In terms of credit quality, the fund aims to primarily invest in a mix of highest rated instruments(i.e A1+ for money market instruments, AAA for corporate bonds category) The fund will try to position itself in the high quality and medium / low interest rate sensitive debt securities. We will try to maintain average maturity of around 60 - 180 days.
Performance Report Period 30th September 2014 - 30th September 2015 30th September 2013 - 30th September 2014 30th September 2012 - 30th September 2013 Since Inception (CAGR) - 30th September 15 Since Inception - 30th September 15 (Value INR)~ Index Value (30th September, 2015) Date of allotment Scheme Benchmark
NAV at the end of the period (` per unit)
Returns MAUSTBF
1522.3825 1417.7631 1311.9889 1522.3825 1522.3825
7.38% 8.06% 8.25% 5.70% 15,223.83
Crisil Liquid Fund Index 8.56% 9.49% 8.59% 7.73% 17,572.88
Crisil 1 Year T-Bill** 8.86% 8.35% 5.70% 6.41% 16,013.38
Index Value of benchmark is 2,414.66 and Index value of Crisil 1 Year T-Bill is 4,305.26 05th March, 2008 CRISIL Liquid Fund Index
Past Performance may or may not sustained in future. $ For computation of since inception returns (%) the allotment NAV has been taken as `10.00. Returns (%) for less than 1 year calculated on simple annualized basis . The performance of other funds managed by the same fund managers are given in the respective page of the schemes and on page No. 18. ** Additional Alternate Benchmark.* Value of Investment of ` 10,000/- Invested in the Scheme. All the performances shown on this page are for MUSTBF - Institutional Plan - Growth Option
Fund Speak | 2015.09.30
14
Mirae Asset Global Investments
MIRAE ASSET SHORT TERM BOND FUND - (MASTBF) (An open ended debt fund) Monthly Factsheet as on September 2015
Portfolio Top 10 holdings
Fund Information
% Allocation
Fund Manager
Mr. Yadnesh Chavan
Certificate of Deposit
Allotment Date
3rd August, 2009
Bank of India (09/06/2016)
30.13%
Benchmark Index
CRISIL Short Term Debt Index
IDBI Bank Ltd (05/11/2015)
26.93%
Net AUM (` Cr.)
4.42
Andhra Bank (04/03/2016)
10.96%
Certificate of Deposit - Total
68.02%
Net Asset Value (NAV): Regular Plan Direct Plan
Allocation
20.61%
Corporate Bond
Growth Option Growth Option
` 14.7460 ` 14.9473
HDFC Ltd (07/04/2016)
11.37%
Corporate Bond Total
11.37%
CBLO / Repo
19.85%
11.37%
@
Ratios (Annualised) Weighted Average Maturity
124.83 Days
Modified Duration
0.34 Years
Yield to Maturity
7.34%
@ Please refer last page for details.
Net Receivables / (Payables) Cash & Other Receivables - Total Total
20.61% 100.00% Certificate of Deposits
Dividend History
24-Jul-15
Dividend Face (`) Value (`) 0.0436 per unit 10
Cum NAV (`) 10.3310
24-Aug-15
0.0385 per unit
10
10.3267
24-Sep-15
0.0346 per unit
10
10.3268
Record Date
68.02%
0.76%
Corporate Bond
Cash & Other Receivables
Past Performance may or may not sustained infuture. Pursuant to payment of dividend the NAV of the dividend option of the scheme will fall to the extent of payout and statutory levy (if applicable). Dividend history is for MASTBF - Regular Plan Dividend Option
Investment Strategy • • •
• •
•
The fund shall endeavor to capture the debt market returns based on evolving rate and macroeconomic environment The fund aims to benefit from current higher yields and potential trending down in yields in medium term. In terms of credit quality, the fund aims to invest in a mix of highest rated (P1+/A1+) debt/money market instruments at the short end and AAA and AA category at long end. The fund will try to position itself in the high quality and medium interest rate sensitive debt securities. The fund management team will primarily use a top down approach for taking interest rate view, sector allocation along with bottom up approach for security, instrument selection. The bottom up approach will assess the quality of the security/instrument (including the financial health of the issuer) as well as liquidity of the security.
Performance Report Period 30th September 2014 - 30th September 2015 30th September 2013 - 30th September 2014 30th September 2012 - 30th September 2013 Since Inception (CAGR) - 30th September 15 Since Inception - 30th September 15 (Value INR)~ Index Value (30th September, 2015) Date of allotment Scheme Benchmark
NAV at the end of the period (` per unit)
Returns MASTBF
14.7460 13.6158 12.5935 14.7460 14.7460
8.30% 8.12% 7.80% 6.51% 14,746.00
CRISIL Short Term Bond Fund Index 9.90% 10.12% 7.73% 7.96% 16,033.49
Crisil 1 Year T-Bill** 8.86% 8.35% 5.70% 6.23% 14,510.95
Index Value of benchmark is 2,540.49 and Index value of Crisil 1 Year T-Bill is 4,305.26 03rd August, 2009 CRISIL Short Term Bond Fund Index
Past Performance may or may not sustained in future. $ For computation of since inception returns (%) the allotment NAV has been taken as `10.00. Returns (%) for less than 1 year calculated on simple annualized basis . The performance of other funds managed by the same fund managers are given in the respective page of the schemes and on page No. 18. ** Additional Alternate Benchmark.* Value of Investment of ` 10,000/- Invested in the Scheme. All the performances shown on this page are for MASTBF - Regular Plan - Growth Option
Fund Speak | 2015.09.30
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Mirae Asset Global Investments
FUND PERFORMANCE For all Equity Funds Monthly Factsheet as on September 2015
Performance of funds managed by Gopal Agrawal, Neelesh Surana, Sumit Agrawal & Bharti Sawant (Overseas Investments)
Mirae Asset India Opportunities Fund (MAIOF) - Fund Manager - Neelesh Surana & Sumit Agrawal Period th
NAV (` per unit)
th
30 September 2014 - 30 September 2015 th th 30 September 2013 - 30 September 2014 30th September 2012 - 30th September 2013 Since Inception (CAGR) - 30th September 15 Since Inception - 30th September 15 (Value INR)~ Index Value ( 30th September, 2015) Date of allotment Scheme Benchmark
Returns S&P BSE 200 3.08% 42.50% -1.11% 7.88% 17,655
MAIOF 10.75% 64.63% -0.42% 16.84% 32,097
32.097 28.981 17.604 32.097 32.097
S&P BSE Sensex** -1.79% 37.41% 3.29% 7.38% 17,047
Index Value of S&P BSE 200 is 3352.02 and Index value of S&P BSE Sensex is 26,154.83 4th April, 2008 S&P BSE 200
Mirae Asset India Opportunities Fund (MAIOF) - SIP Performance Since Inception 89,000 193,171 20.44% 11.56% 10.32%
SIP Investment Total Amount Invested Mkt Value as of 30th September, 2015 Fund Return (CAGR)*(%) Benchmark Return (CAGR)*(%) (S&P BSE 200) Add. Benchmark Return (CAGR)*(%) (S&P BSE Sensex)
5 Years 60,000 99,074 20.18% 11.56% 9.76%
3 Years 36,000 51,046 24.09% 13.03% 9.65%
1 Year 12,000 12,076 1.19% -7.29% -11.11%
Mirae Asset Emerging Bluechip Fund (MAEBF) - Fund Manager - Neelesh Surana Period
NAV (` per unit)
30th September 2014 - 30th September 2015 30th September 2013 - 30th September 2014 30th September 2012 - 30th September 2013 Since Inception (CAGR) - 30th September 15 Since Inception - 30th September 15 (Value INR)~ Index Value ( 30th September, 2015) Date of allotment Scheme Benchmark
Returns CNX Midcap 13.72% 63.17% -10.75% 8.93% 15,642
MAEBF 22.66% 100.48% -3.48% 23.78% 30,513
30.513 24.876 12.408 30.513 30.513
S&P BSE Sensex** -1.79% 37.41% 3.29% 7.60% 14,666
Index Value of CNX Midcap is 12,984.50 and Index value of S&P BSE Sensex is 26,154.83 9th July, 2010 CNX Midcap
Mirae Asset Emerging Bluechip Fund (MAEBF) - SIP Performance Since Inception 62,000 134,977 30.60% 16.19% 9.60%
SIP Investment Total Amount Invested Mkt Value as of 30th September, 2015 Fund Return (CAGR)*(%) Benchmark Return (CAGR)*(%) (CNX Midcap) Add. Benchmark Return (CAGR)*(%) (S&P BSE Sensex)
5 Years 60,000 129,236 31.29% 16.78% 9.76%
3 Years 36,000 62,860 39.85% 23.20% 9.65%
1 Year 12,000 12,784 12.38% 2.76% -11.11%
Mirae Asset India-China Consumption Fund (MAICCF) - Fund Manager - Neelesh Surana, Sumit Agrawal & Bharti Sawant (Overseas Investments) Period th
th
30 September 2014 - 30 September 2015 30th September 2013 - 30th September 2014 30th September 2012 - 30th September 2013 Since Inception (CAGR) - 30th September 15 Since Inception - 30th September 15 (Value INR)~ Index Value ( 30th September, 2015) Date of allotment Scheme Benchmark#
Fund Speak | 2015.09.30
Returns
NAV at the end of the period (` per unit) 21.192 19.255 13.527 21.192 21.192
MAICCF
Scheme Benchmark#
S&P BSE Sensex**
10.06% 42.34% 9.72% 18.12% 21,192
0.66% 26.00% 19.11% 15.19% 18,921
-1.79% 37.41% 3.29% 7.19% 13,679
Index Value of benchmark is 197.06 and Index value of S&P BSE Sensex is 26,154.83 29th March, 2011 S&P India & China Weighted Index
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Mirae Asset Global Investments
FUND PERFORMANCE For all Equity Funds (contd....) Monthly Factsheet as on September 2015
Performance of funds managed by Gopal Agrawal, Neelesh Surana, Sumit Agrawal & Bharti Sawant (Overseas Investments)
Mirae Asset Global Commodity Stocks Fund (MAGCSF) - Fund Manager - Gopal Agrawal & Bharti Sawant (Overseas Investments)
th
Returns
NAV at theend of the period (` per unit)
Period th
30 September 2014 - 30 September 2015 th th 30 September 2013 - 30 September 2014 30th September 2012 - 30th September 2013 Since Inception (CAGR) - 30th September 15 Since Inception - 30th September 15 (Value INR)~ Index Value ( 30th September, 2015) Date of allotment Scheme Benchmark#
8.373 12.686 12.111 8.373 8.373
MAGCSF
Scheme Benchmark#
S&P BSE Sensex**
-34.00% 4.75% 2.19% -2.46% 8,373
-29.61% 9.67% -15.46% -2.21% 8,528
-1.79% 37.41% 3.29% 8.46% 17,819
Index Value of benchmark is 79.29 and Index value of S&P BSE Sensex is 26,154.83 20th August, 2008 S&P Pan Asia Large Midcap Commodity & Resource Capped Index
Mirae Asset China Advantage Fund (MACAF) - Fund Manager - Bharti Sawant Period th
th
30 September 2014 - 30 September 2015 th th 30 September 2013 - 30 September 2014 th 30 September 2012 - 30th September 2013 Since Inception (CAGR) - 30th September 15 Since Inception - 30th September 15 (Value INR)~ Index Value ( 30th September, 2015) Date of allotment # Scheme Benchmark
Returns
NAV at the end of the period (` per unit) 13.031 13.383 13.129 13.031 13.031
MACAF
Scheme Benchmark#
S&P BSE Sensex**
-2.63% 1.93% 27.08% 4.59% 13,031
-1.80% -1.95% 32.00% 3.99% 12,596
-1.79% 37.41% 3.29% 8.61% 16,282
Index value for benchmark is 483.21 and Index value of S&P BSE Sensex is 26,154.83 05th November, 2009 MSCI China(INR)
Past Performance may or may not sustained in future. $ For computation of since inception returns (%) the allotment NAV has been taken as `10.00. In case, the start / end date of the concerned period is a non-business date (NBD), the NAV of the previous date is considered for computation of returns. Load is not considered for computation of return. The calculations of returns shall assume reinvestment of all payouts at the then prevailing NAV. Returns provided are for Regular Plan-Growth Option. Return(%) for less than 1 year are calculated on simple annualized basis. CAGR - Compounded Annualised Growth returns. *As per SEBI standard on performance disclosure, returns in INR terms based on a standard investment of `10,000/- have been shown only for Schemes that have been in existence for more than three years. NAV (per unit) is at the end of the period. **Alternate Scheme - Benchmark. th
SIP Investment Amount per Month = `1,000/-. SIP Valuation Date = 30 September, 2015. The returns are calculated by XIRR approach assuming investment of `1000/- on the st 1 working day of every month S&P Disclaimer: “S&P Pan Asia Large Midcap Commodity & Resource Capped Index and S&P India & China Weighted Index (the “Index”) are the exclusive property of S&P Opco. LLC, a subsidiary of S&P Dow Jones Indices LLC (“S&P Dow Jones Indices”) and / or its affiliates. Mirae Asset Global Investments (India) Pvt. Ltd. has contracted with S&P Down Jones Indices to calculate and maintain the Index. Neither S&P Dow Jones Indices nor any of its affiliates shall be liable to Mirae Asset Global Investments (India) Pvt. Ltd. for any loss or damage, direct, indirect or consequential, arising from (i) any inaccuracy or incompleteness in, or delays, interruptions, errors or omission in the delivery of, the Index or any data related thereto or (ii) any decision made or action taken by Mirae Asset Global Investments (India) Pvt Ltd in reliance upon such Index and / or data. Neither S&P Dow Jones Indices nor its affiliates shall be liable to Mirae Asset Global Investments (India) Pvt. Ltd. for loss of business revenues, lost profits or any punitive, indirect, consequential, special or similar damages whatsoever, whether in contract, tort or otherwise, even if advised of the possibility of such damages. Mirae Asset Global Investments (India) Pvt. Ltd. expressly acknowledges that S&P Dow Jones Indices and its affiliates do not make any warranties, express or implied, with respect to the Index and / or its related data, including, without limitation, (i) any warranties with respect to the timeliness, sequence, accuracy, completeness currentness, merchantability, quality or fitness for a particular purpose of such Index and / or data or (ii) any warranties as to the results to be obtained by the Mirae Asset Global Investments (India) Pvt. Ltd. or any other person or entity in connection with use of such Index and / or data.”
Fund Speak | 2015.09.30
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Mirae Asset Global Investments
FUND PERFORMANCE For all Debt Funds Monthly Factsheet as on September 2015
Performance of funds managed by Mr. Yadnesh Chavan
Mirae Asset Cash Management Fund (MACMF) Period th
Last 7 Days till 30 September 2015 th Last 15 Days till 30 September 2015 th Last 30 Days till 30 September 2015 th th 30 September 2014 - 30 September 2015 th th 30 September 2013 - 30 September 2014 th th 30 September 2012 - 30 September 2013 th Since Inception (CAGR) - 30 September 15 th Since Inception - 30 September 15 (Value INR)~ Index Value ( 30th September, 2015) Date of allotment Scheme Benchmark
NAV at the Returns end of the period MACMF Crisil Liquid Fund Index (` per unit) 1535.2767 0.11% 0.19% 1535.2767 0.25% 0.37% 1535.2767 0.52% 0.66% 1535.2767 8.11% 8.56% 1420.1079 8.86% 9.49% 1304.5385 7.96% 8.59% 1535.2767 6.59% 7.56% 1535.2767 15,352.77 16,319.46 Index Value of benchmark is 2,414.65 and Index value of Crisil 1 Year T-Bill is 4,305.26 12th January, 2009 CRISIL Liquid Fund Index
Crisil 1 Year T-Bill** 0.37% 0.56% 0.87% 8.86% 8.35% 5.70% 6.05% 14,839.28
Mirae Asset Ultra Short Term Bond Fund (MAUSTBF) Period th
th
30 September 2014 - 30 September 2015 30th September 2013 - 30th September 2014 30th September 2012 - 30th September 2013 Since Inception (CAGR) - 30th September 15 Since Inception - 30th September 15 (Value INR)~ Index Value ( 30th September, 2015) Date of allotment Scheme Benchmark
NAV at the end of the period (` per unit)
MAUSTBF
Returns
1522.3825 1417.7631 1311.9889 1522.3825 1522.3825
7.38% 8.06% 8.25% 5.70% 15,223.83
CRISIL Liquid Fund Index 8.56% 9.49% 8.59% 7.73% 17,572.88
Crisil 1 Year T-Bill** 8.86% 8.35% 5.70% 6.41% 16,013.38
Index Value of benchmark is 2,414.66 and Index value of Crisil 1 Year T-Bill is 4,305.26 05th March, 2008 CRISIL Liquid Fund Index
Mirae Asset Short Term Bond Fund (MASTBF) Period 30th September 2014 - 30th September 2015 30th September 2013 - 30th September 2014 30th September 2012 - 30th September 2013 Since Inception (CAGR) - 30th September 15 Since Inception - 30th September 15 (Value INR)~ Index Value ( 30th September, 2015) Date of allotment Scheme Benchmark
NAV at the end of the period (` per unit)
MAUSTBF
14.7460 13.6158 12.5935 14.7460 14.7460
8.30% 8.12% 7.80% 6.51% 14,746.00
Returns Crisil Short Term Bond Fund Index 9.90% 10.12% 7.78% 7.96% 16,033.49
Crisil 1 Year T-Bill** 8.86% 8.35% 5.70% 6.23% 14,510.92
Index Value of benchmark is 2,540.49 and Index value of Crisil 1 Year T-Bill is 4,305.26 03rd August, 2009 CRISIL Short Term Bond Fund Index
Past Performance may or may not sustained in future. $ For computation of since inception returns (%) the allotment NAV has been taken as `10.00 for MASTBF and ` 1000.00 for MACMF & MAUSTBF. In case, the start / end date of the concerned period is a non-business date (NBD), the NAV of the previous date is considered for computation of returns. Returns (%) for less than 1 year calculated on simple annualized basis.
The calculations of returns shall assume reinvestment of all payouts at the then prevailing NAV. Returns provided are for Regular Plan-Growth Option. CAGR Compounded Annualised Growth returns. *As per SEBI standard on performance disclosure, returns in INR terms based on a standard investment of `10,000/- have been shown only for Schemes that have been in existence for more than three years. NAV (per unit) is at the end of the period. **Alternate Scheme - Benchmark. For MAUSTBF the returns are for Institutional Plan - Growth Option.
Fund Manager Experiences**
Gopal Agrawal has over 14 years of experience in Fund Management Neelesh Surana has over 18 years of experience in Financial Services including Fund Management. Mr. Yadnesh Chavan has Over 9 years of experience in Investment Industry. Sumit Agrawal has over 10 years of experience in investment analysis and research including fund management. Bharti Sawant has 6 years of experience in Equity Research Analysis
Fund Speak | 2015.09.30
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Mirae Asset Global Investments
DISCLAIMERS
For Liquid / Debt Funds: Current Expense Ratio for Growth Option (#) (Effective Date 01st October, 2012) Regular / Institutional Plan On the first 100 crores daily net assets 2.25% On the next 300 crores daily net assets 2.00% On the next 300 crores daily net assets 1.75% On the balance of the net assets 1.50% In addition to the above a charge of 20 bps on the daily net assets; Plus, a proportionate charge in respect ales beyond T-15 cities subject to maximum of 30 bps on daily net assets may also be charged Excluding service tax on Investment Management Fee. st For Direct Plans (Effective Date 01 January, 2013)#: The above expense ratio will also be applicable for Direct Plans except that the Direct Plan shall have a lower expense ratio excluding distribution expenses, commission, etc. and no commission for distribution of Units will be paid / charged under Direct Plan. (#) Any change in the expense ratio will be updated on AMC Website.
For Equity Funds: Current Expense Ratio for Growth Option (#) st (Effective Date 01 October, 2012) Regular Plan: On the first 100 crores daily net assets 2.50% On the next 300 crores daily net assets 2.25% On the next 300 crores daily net assets 2.00% On the balance of the net assets 1.75% In addition to the above a charge of 20 bps on the daily net assets; Plus, a proportionate charge in respect sales beyond T-15 cities subject to maximum of 30 bps on daily net assets may also be charged Excluding service tax on Investment Management Fee. st For Direct Plans (Effective Date 01 January, 2013)#: The above expense ratio will also be applicable for Direct Plans except that the Direct Plan shall have a lower expense ratio excluding distribution expenses, commission, etc. and no commission for distribution of Units will be paid / charged under Direct Plan. (#) Any change in the expense ratio will be updated on AMC Website.
For Fund of Funds: Current Expense Ratio for Growth Option (#) (Effective Date 1st October, 2012 is 2.50%) In addition to the above a charge of 20 bps on the daily net assets; Plus, a proportionate charge in respect sales beyond T-15 cities subject to maximum of 30 bps on daily net assets may also be charged *Excluding Service Tax on Investment Management Fees, if any. ** includes expenses charged by the underlying fund as well. st For Direct Plans (Effective Date 01 January, 2013)#: The above expense ratio will also be applicable for Direct Plans except that the Direct Plan shall have a lower expense ratio excluding distribution expenses, commission, etc. and no commission for distribution of Units will be paid / charged under Direct Plan. **The investors, in addition to the above recurring expense shall also bear the recurring expense of the underlying scheme. However the total recurring expenses (including the recurring expense of the underlying scheme) will not exceed 2.7% p.a. (#) Any change in the expense ratio will be updated on AMC Website.
@The Volatility, Beta, R Squared, Sharpe Ratio, Tracking Error & Information Ratio are calculated on returns from last six years daily data points for MAIOF and MAGCSF and from last four years for MAEBF,MAICCF and MACAF. # Risk free rate: FBIL OVERNIGHT MIBOR as on 30th Sep 2015. ^Basis last rolling 12 month. Dividend is gross dividend. As per current Income Tax Rules, for financial year 2015-16 dividend under equity scheme is tax free in the hands of investors, whereas for Dividend under Debt schemes applicable dividend distribution tax, if any, needs to be adjusted by the AMC. The fiscal rules / tax laws are subject to change. For further details, please refer to the section titled “Taxation” in the Statement of Additional Information of Mirae Asset Mutual Fund. In view of the individual nature of tax consequences, each investor is advised to consult his / her professional tax advisor. For complete dividend history details please refer to our website www.miraeassetmf.co.in Statutory Details: Sponsor: Mirae Asset Global Investments Company Limited. Trustee: Mirae Asset Trustee Company Private Limited; Investment Manager: Mirae Asset Global Investments (India) Private Limited.
Asset Allocation Mirae Asset India Opportunities Fund (MAIOF) Instruments
Indian Equities and Equity Related Securities* Money market instruments/debt securities Instruments** (Including upto 25% of corpus in securitized debt)
Mirae Asset China Advantage Fund (MACAF) Indicative allocations (% of total assets) Minimum Minimum 65% 0%
Units of Mirae Asset China Sector Leader Equity Fund and/or units of other mutual fund schemes, units of ETFs investing in equities and equity related securities of companies domiciled in or having their area of primary activity in China and Hong Kong* Money market instruments/debt securities Instruments** and/or units of debt/liquid schemes of domestic Mutual Funds. Mirae Asset Global Commodity Stocks Fund (MAGCSF)
100% High 35% Low to Medium
Mirae Asset Emerging Bluechip Fund (MAEBF) Instruments
Indian Equities and Equity Related Securities* of companies, which are not part of the top 100 stocks by market capitalization and have market capitalization of atleast Rs.100 Crores at the time of investment Other Indian Equities and Equity Related Securities.* Money market instruments (including CBLO)/debt securities Instruments** (Including upto 20% of corpus in securitized debt)
Indicative allocations (% of total assets) Minimum Minimum
Risk Profile
65%
100%
High
0% 0%
35% 35%
Low Low to Medium
"Asia Pacific and/or Emerging Markets Equities and Equity Related Securities (excluding Indian equities and equities related securities) of companies that are engaged in commodity and commodities related sectors/sub sectors/industries *" Indian Equities and Equity Related Securities, including but not limited to those that are engaged in commodity and commodities related sectors/ sub sectors/industries * “Money market instruments/debt securities Instruments**(Including upto 25% of corpus in securitized debt)"
Equity and Equity Related Instruments* Companies which are amongst the top 100 companies by market capitalization at the time of investment Companies which are not amongst the top 100 companies by market capitalization at the time of investment Debt & Money Market Instruments
Indicative allocations (% of total assets) Minimum Minimum 65% 65%
80% 80%
0%
15%
20%
35%
Risk Profile
High
Indian Equities and Equity Related Securities of companies that are likely to benefit either directly or indirectly from consumption led demand.* Chinese Equities and Equity Related Securities of companies that are likely to benefit either directly or indirectly from consumption led demand* “Money market instruments (including CBLO)/debt securitiesInstruments and/or units of debt/liquid schemes of domestic Mutual Funds " Mirae Asset Short Term Bond Fund (MASTBF) Instruments
"Money Market Instruments and debt instruments withresidual maturity and repricing tenor not exceeding 18 months” “Debt Instruments with residual maturity and repricingtenor exceeding 18 months”
Indicative allocations (% of total assets) Minimum Minimum
High
0%
20%
Low to Medium
Risk Profile
65%
100%
High
0%
35%
High
0%
35%
Low to Medium
Indicative allocations (% of total assets) Minimum Minimum
Instruments Medium "Money Market Instruments and debt instruments withresidual maturity and repricing tenor not exceeding1 year." “Debt Instruments with residual maturity and repricingtenor exceeding 1 year* (including Securitized Debt upto 50% of net assets)." Mirae Asset Cash Management Fund (MACMF)
Risk Profile
65%
90%
High
10%
35%
High
0%
25%
Low to Medium
"Money Market Instruments (including Cash, Reverse Repo,CBLO) MIBOR & MIBOR linked instruments." Debt Instruments with residual maturity upto 91 days only
Risk Profile
50%
100%
Low
0%
50%
Low to Medium
Indicative allocations (% of total assets) Minimum Minimum
Instruments
Indicative allocations (% of total assets) Minimum Minimum
100%
Mirae Asset Ultra Short Term Bond Fund (MAUSTBF)
Mirae Asset India-China Consumption Fund (MAICCF) Instruments
Risk Profile
80%
Indicative allocations (% of total assets) Minimum Minimum
Instruments
Mirae Asset Prudence Fund (MAPF) Instruments
Indicative allocations (% of total assets) Minimum Minimum
Instruments
Risk Profile
Risk Profile
20%
100%
Low
0%
80%
Medium
Risk Profile
20%
100%
Low
0%
80%
Low to Medium
Transparency: The NAVs of all the above funds will be calculated at the close of every working day and shall be published in two daily newspapers and on the AMC / AMFI website. ~ Crisil Disclaimer: A Crisil credit quality rating on a bond fund reflects Crisil’s current opinion on the degree of protection offered by the rated instrument from losses related to credit defaults. It does not constitute an audit by Crisil of the fund house, the scheme, or companies in the scheme’s portfolio. Crisil ratings are based on information provided by the issuer or obtained by Crisil from sources it considers reliable. Crisil does not guarantee the completeness or accuracy of the information on which the rating is based. A Crisil rating is not a recommendation to buy, sell or hold the rated scheme. It does not comment on the market price or suitability for a particular investor. All Crisil ratings are under surveillance. The assigned rating Crisil AAAmfs is valid only for “Mirae Asset Cash Management Fund”. The rating of Crisil is not an opinion on the Asset Management Company’s willingness or ability to make timely payments to the investor. The rating is also not an opinion on the stability of the NAV of the Fund, which could vary with market developments. Crisil reserves the right to suspend, withdraw or revise its rating at any time, on the basis of any new information or unavailability of information or any other circumstances, which Crisilbelieves may have an impact on the rating.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully
(Mon to Fri - 9.00 am to 5.30 pm)
Unit No. 606, 6th Floor, Windsor Building, Off C.S.T. Road, Kalina, Santacruz (East) - Mumbai - 400 098. Fund Speak | 2015.09.30
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Mirae Asset Global Investments
