MIRAE ASSET
LOW DURATION FUND* (formerly known as Mirae Asset Savings Fund)
(Low Duration Fund - An Open ended low duration Debt Scheme investing in instruments with Macaulay duration of the portfolio between 6 months and 12 months (please refer to page no. 15 of SID)
A moderate interest rate risk and moderate credit risk
| Type of Scheme | Low Duration Fund - An Open ended low duration Debt Scheme investing in instruments with Macaulay duration of the portfolio between 6 months and 12 months (please refer to page no. 15 of SID) A moderate interest rate risk and moderate credit risk |
| Investment Objective | The investment objective of the scheme is to seek to generate returns with a portfolio comprising of debt and money market instruments, such that Macaulay duration of the portfolio is between 6 months - 12 months.
The Scheme does not guarantee any returns |
Fund Manager** |
Mr. Basant Bafna #
(since February 1, 2024) |
| Allotment Date | 26th June, 2012 |
| Benchmark Index | Nifty Low Duration Debt Index A-I |
| 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. |
Systematic Investment Plan (SIP) (Any Date SIP is available from 1st July, 2019) |
Monthly and Quarterly: ₹ 1000/- (multiples of ₹ 1/- thereafter), minimum 5 in case of Monthly / Quarterly option. |
| Load Structure | Entry load: NA Exit load:Nil |
| Plans Available | Regular Savings Plan and Direct Plan |
| Options Available | Growth Option and IDCW Option (Payout & Re-investment) |
| Monthly Average AUM (₹ Cr.) as on June 30, 2024 | 680.1263 |
| Net AUM (₹ Cr.) | 1,070.96 |
| Monthly Total Expense Ratio (Including Statutory Levies) as on June 30, 2024 |
Regular Plan: 0.85% Direct Plan: 0.24% |
| **For experience of Fund Managers Click Here | |
#Pursuant to notice cum addendum no. 05/2024, Fund Manager of the scheme has been changed with effect from February 01, 2024. Please visit the website for more details: https://www.miraeassetmf.co.in/downloads/statutory-disclosure/addendum |
|
| NAV: | Direct | Regular Savings |
| Growth | ₹ 2,268.4249 | ₹ 2,097.1996 |
| Daily IDCW | ₹ 1,208.9337 | ₹ 1,005.1646 |
| Weekly IDCW | ₹ 1,455.2462 | ₹ 1,107.2563 |
| Monthly IDCW | ₹ 1,160.6109 | ₹ 1,088.0310 |
| Quarterly IDCW | ₹ 1,018.7288 | ₹ 1,017.3957 |
| Average Maturity | 362.90 Days |
| Modified Duration | 0.88 Yrs |
| Macaulay Duration | 0.93 Yrs |
| Annualized Portfolio YTM* | 7.64% |
*In case of semi annual YTM, it will be annualized.
| Portfolio Holdings | % Allocation |
| Certificate Of Deposit | |
| Axis Bank Limited | 5.83% |
| ICICI Bank Limited | 5.27% |
| Punjab National Bank | 4.48% |
| Kotak Mahindra Bank Limited | 3.53% |
| HDFC Bank Limited | 3.16% |
| Union Bank of India | 3.11% |
| Canara Bank | 2.26% |
| National Bank For Agriculture and Rural Development | 2.21% |
| AU Small Finance Bank Limited | 1.38% |
| Small Industries Dev Bank of India | 1.34% |
| HDFC Bank Limited | 0.89% |
| Indian Bank | 0.44% |
| Certificate Of Deposit Total | 33.91% |
| Commercial Paper | |
| Angel One Limited | 2.27% |
| ICICI Securities Limited | 1.77% |
| IndoStar Capital Finance Limited | 0.93% |
| Shriram Finance Limited | 0.89% |
| Birla Group Holdings Private Limited | 0.53% |
| National Housing Bank | 0.46% |
| Small Industries Dev Bank of India | 0.44% |
| Motilal Oswal Financial Services Limited | 0.44% |
| Commercial Paper Total | 7.74% |
| Corporate Bond | |
| National Bank For Agriculture and Rural Development | 6.04% |
| Power Finance Corporation Limited | 5.56% |
| Small Industries Dev Bank of India | 4.86% |
| LIC Housing Finance Limited | 4.26% |
| REC Limited | 3.69% |
| REC Limited | 2.33% |
| Small Industries Dev Bank of India | 2.33% |
| Bharti Telecom Limited | 2.15% |
| Embassy Office Parks REIT | 2.14% |
| ONGC Petro Additions Limited | 1.40% |
| National Housing Bank | 1.40% |
| Motilal Oswal Finvest Limited | 0.94% |
| Indian Railway Finance Corporation Limited | 0.93% |
| Nexus Select Trust - REIT | 0.70% |
| Bajaj Housing Finance Limited | 0.47% |
| Bajaj Finance Limited | 0.47% |
| Muthoot Finance Limited | 0.46% |
| Hero Fincorp Limited | 0.38% |
| Corporate Bond Total | 40.51% |
| Government Bond | |
| 4.7% GOI FRB (MD 22/09/2033) | 2.86% |
| 7.37% GOI (MD 23/10/2028) | 0.95% |
| 7.1% GOI (MD 08/04/2034) | 0.47% |
| 7.38% GOI (MD 20/06/2027) | 0.09% |
| Government Bond Total | 4.37% |
| State Government Bond | |
| 7.89% GUJARAT SDL (MD 15/05/2025) | 0.94% |
| 7.75% Karnatak SDL (MD 01/03/2027) | 0.24% |
| State Government Bond Total | 1.18% |
| Treasury Bill | |
| 182 Days Tbill (MD 26/09/2024) | 0.92% |
| 91 Days Tbill (MD 26/09/2024) | 0.92% |
| Treasury Bill Total | 1.84% |
| Corporate Debt Market Development Fund^ | |
| Class A2 units of Corporate Debt Market Development Fund # | 0.15% |
| Corporate Debt Market Development Fund Total | 0.15% |
| Cash & Other Receivables Total | 10.30% |
| Grand Total | 100.00% |
^Please refer to notice-cum-addendum no. 58/2023 https://www.miraeassetmf.co.in/downloads/statutory-disclosure/addendum
#Unlisted Security
| Returns (in%) | |||||
| 1 Year | 3 Years | 5 Years | Since inception | Value of 10000 invested Since Inception (in Rs.) | |
| Mirae Asset Low Duration Fund | 6.89% |
5.27% |
5.42% |
6.36% |
20,972 |
| Scheme Benchmark* | 7.35% |
5.69% |
5.83% |
7.25% |
23,186 |
| Additional Benchmark** | 7.32% |
4.16% |
5.51% |
6.59% |
21,527 |
| NAV as on 30th June, 2024 | ₹ 2,097.1996 | ||||
| Index Value (30th June, 2024) | Index Value of benchmark is 4,997.45 and CRISIL 10 Year Gilt Index is 4,642.38 | ||||
| Allotment Date | 26th June, 2012 | ||||
| Scheme Benchmark | *Nifty Low Duration Debt Index A-I | ||||
| Additional Benchmark | **CRISIL 10 Year Gilt Index | ||||
Fund manager : Mr. Basant Bafna managing the scheme since 1st February, 2024.
Inception date of Mirae Asset Low Duration Fund is March 05 2008, however since inception returns are calculated from June 26, 2012 as there were no investors in the interim period in the institutional plan.
Note: Returns (%) for less than 1 year calculated on simple annualized basis, others are CAGR- Compounded Annualized Growth returns
Latest available NAV has been taken for return calculation wherever applicable
Note : For computation of since inception returns (%) the allotment NAV has been taken as ₹1000.The performance of other funds managed by the same fund manager is given in the respective page of the schemes
Different Plans under the scheme has different expense structure. The reference and details provided here in are of Regular Plan - Growth Option
This product is suitable for investors who are seeking*
. An open low duration debt scheme
. Investment in debt and money market instruments such that the macaulay duration of the portfolio is between 6 to 12 months
*Investors should consult their financial advisers if they are not clear about the suitability of the product.
^^As per notice cum addendum no. 30/2024 riskometer of the scheme has changed. Please visit the website for more details https://www.miraeassetmf.co.in/downloads/statutory-disclosure/addendum
Monthly |
|||
| Quantum (₹ per unit) | |||
| Record Date | Individual | Corporate | NAV (₹ per unit) |
26-Dec-23 |
6.7671 |
6.7671 |
1,093.9034 |
26-Mar-24 |
6.2074 |
6.2074 |
1,093.3437 |
24-Apr-24 |
6.8702 |
6.8702 |
1,094.0065 |
24-Jun-24 |
6.4326 |
6.4326 |
1,093.5689 |
Regular Plan - Quarterly |
|||
| Quantum (₹ per unit) | |||
| Record Date | Individual | Corporate | NAV (₹ per unit) |
11-Jul-23 |
16.50 |
1000.00 |
1017.0554 |
12-Oct-23 |
17.00 |
1000.00 |
1017.4186 |
15-Jan-24 |
17.00 |
1000.00 |
1017.5688 |
12-Apr-24 |
17.00 |
1000.00 |
1018.4106 |
Direct Plan - Quarterly |
| Quantum (₹ per unit) | |||
| Record Date | Individual | Corporate | NAV (₹ per unit) |
11-Jul-23 |
18.00 |
1000.00 |
1018.6632 |
12-Oct-23 |
30.00 |
1000.00 |
1030.3847 |
15-Jan-24 |
18.75 |
1000.00 |
1019.2534 |
12-Apr-24 |
18.50 |
1000.00 |
1019.7712 |
Face value ₹1000/-. Past Performance may or may not be sustained in future. Pursuant to payment of IDCW the NAV of the IDCW option of the scheme will fall to the extent of payout and statutory levy (if any). IDCW history is for Mirae Asset Low Duration Fund - Regular & Direct Savings Plan - Monthly IDCW Option and Quarterly IDCW Option