Mirae Asset Large Cap mutual fund has underperformed peers, benchmark since 2022; what should investors do?

ET Wealth collaborates with Value Research to analyse top mutual funds. We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.

BASIC FACTS
DATE OF LAUNCH
4 APRIL 2008
CATEGORY

EQUITY
TYPE
LARGE CAP
AUM*
Rs.37,631 crore
BENCHMARK
NIFTY 100 TOTAL
RETURN INDEX

WHAT IT COSTS
NAV**
GROWTH OPTION
Rs.105.38
IDCW
Rs.29.27
MINIMUM INVESTMENT
Rs.5,000

MINIMUM SIP AMOUNT
Rs.500

EXPENSE RATIO# (%)
1.53
EXIT LOAD
1% for redemption within 365 days

*AS ON 31 MAY 2024
**AS ON 25 JUNE 2024
#AS ON 31 MAY 2024

FUND MANAGER
GAURAV MISRA
5 YEARS, 4 MONTHS

Recent portfolio changes
New entrants
Bharti Hexacom, Oil & Natural Gas Corporation, Tata Motors, Vedanta (April). Cipla, Macrotech Developers, R R Kabel (May).
Complete exits
Britannia Industries, ICICI Lombard General Insurance Comapny, Krishna Institute of Medical Sciences, Mphasis, Polycab India, The Federal Bank, Titan Company (April).

Should You Buy
This once high-flying fund has faltered in recent years with its growth-focused investment style getting routed amid the market’s shift towards value stocks. The fund has sharply underperformed both its index and peers since 2022. This has punctured its impressive longer-term track record of consistent outperformance. While the fund’s preference for high quality remains, it continues to have representation of ideas from the value and cyclicals segment. The latter is being reinforced selectively. The fund needs to find its feet quickly to arrest the drag on its return profile. Investors may want to monitor the fund for a turnaround before putting incremental money in it.