MIRAE ASSET
SAVINGS FUND - (MASF)
(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. 35 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. 35 of SID) A moderate interest rate risk and moderate credit risk |
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| 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 |
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Fund Manager** |
Ms. Kruti Chheta#
(w.e.f 16 January, 2023) Allotment Date |
26th June, 2012 Benchmark Index |
NIFTY Low Duration Debt Index B-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 or 3 in case of 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 February 28, 2023 |
621.30 Net AUM (₹ Cr.) |
606.05 Monthly Avg. Expense Ratio |
(Including Statutory Levies) as on February 28, 2023 Regular Plan: 0.94% Direct Plan: 0.43% **For experience of Fund Managers Click Here |
^Pursuant to Notice cum addendum dated March 27, 2021 the nomenclature of dividend option has been changed w.e.f. April 01, 2021. |
# As per notice cum addendum no. 03/2023 fund manager of the scheme has changed. Please visit the website for more details: https://www.miraeassetmf.co.in/downloads/statutory-disclosure/addendum | |||||||||||||
| NAV: | Direct | Regular Savings |
| Growth | ₹ 2,055.4737 | ₹ 1,915.3501 |
| Daily IDCW^ | ₹ 1,208.9337 | ₹ 1,005.1646 |
| Weekly IDCW^ | ₹ 1,455.4869 | ₹ 1,107.3831 |
| Monthly IDCW^ | ₹ 1,160.1184 | ₹ 1,087.5800 |
| Quarterly IDCW^ | ₹ 1,007.1503 | ₹ 1,006.3006 |
| Average Maturity | 237.66 Days |
| Modified Duration | 0.60 Years |
| Macaulay Duration | 0.63 Years |
| Annualized Portfolio YTM* | 7.76% |
*In case of semi annual YTM, it will be annualized.
| Portfolio Holdings | % Allocation |
| Certificate of Deposit | |
| ICICI Bank Ltd (30/06/2023) ** # | 4.83% |
| HDFC Bank Ltd (15/06/2023) ** # | 4.04% |
| Canara Bank (03/07/2023) ** # | 4.02% |
| The Federal Bank Ltd (11/07/2023) ** # | 4.01% |
| Kotak Mahindra Bank Ltd (17/08/2023) ** # | 3.98% |
| Small Industries Dev Bank of India (01/09/2023) # | 3.97% |
| Axis Bank Ltd (07/09/2023) ** # | 3.97% |
| State Bank of India (12/09/2023) # | 3.96% |
| Bank of Baroda (15/11/2023) # | 3.91% |
| Union Bank of India (09/02/2024) # | 3.07% |
| Certificate of Deposit Total | 39.76% |
| Corporate Bond | |
| 6.75% Shriram Finance Ltd (28/04/2023) ** | 4.95% |
| 7.1% Muthoot Finance Ltd (20/06/2024) ** | 4.05% |
| 7.38% Cholamandalam Investment and Finance Company Ltd (31/07/2024) ** | 3.26% |
| 7.45% Mahindra Rural Housing Finance Ltd (14/07/2023) ** | 2.47% |
| 7.42% Bajaj Housing Finance Ltd (12/07/2024) ** | 2.46% |
| 5.32% National Housing Bank (01/09/2023) ** | 2.45% |
| 6.25% Embassy Office Parks REIT (18/10/2024) ** | 2.41% |
| 7.15% Small Industries Dev Bank of India (21/07/2025) ** | 1.62% |
| 7.25% Larsen & Toubro Ltd (24/04/2023) ** | 0.82% |
| 6.26% Cholamandalam Investment and Finance Company Ltd (18/04/2023) ** | 0.82% |
| 4.64% Oil & Natural Gas Corporation Ltd (21/11/2023) ** | 0.81% |
| Corporate Bond Total | 26.12% |
| Commercial Paper | |
| Godrej Industries Ltd (18/04/2023) ** | 4.08% |
| IIFL Wealth Prime Ltd (25/04/2023) ** | 3.26% |
| JSW Energy Ltd (15/05/2023) ** | 2.43% |
| HDFC Ltd (11/12/2023) ** | 2.33% |
| Motilal Oswal Financial Services Ltd (11/05/2023) ** | 2.27% |
| Motilal Oswal Financial Services Ltd (13/03/2023) ** | 1.65% |
| Commercial Paper Total | 16.02% |
| State Government Bond | |
| 7.89% GUJARAT SDL (15/05/2025) | 4.16% |
| 7.75% Karnatak SDL (01/03/2027) | 0.42% |
| State Government Bond Total | 4.57% |
| Treasury Bill | |
| 182 Days Tbill (30/03/2023) | 3.28% |
| Treasury Bill Total | 3.28% |
| Government Bond | |
| 7.38% GOI (20/06/2027) | 1.32% |
| 4.7% GOI FRB (22/09/2033) | 0.82% |
| Government Bond Total | 2.14% |
| Cash & Other Receivables Total | 8.10% |
| Total | 100.00% |
** Thinly Traded / Non Traded Security # Unlisted Security
| Returns (in%) | ||||
| 1 Yr | 3 Yrs | 5 Yrs | SI | |
| MASF | 4.37% |
4.45% |
5.22% |
6.27% |
| Scheme Benchmark* | 5.15% |
5.28% |
6.29% |
7.87% |
| Additional Benchmark** | 2.00% |
2.93% |
6.09% |
6.28% |
| NAV as on 28th February, 2023 | ₹ 1,915.3501 | |||
| Index Value (28th February, 2023) | Index Value of benchmark is 4,723.38 and CRISIL 10 Year Gilt Index is 4,134.12 |
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| Allotment Date | 26th June, 2012 | |||
| Scheme Benchmark | *NIFTY Low Duration Debt Index B-I | |||
| Additional Benchmark | **CRISIL 10 Year Gilt Index | |||
Fund manager : Ms. Kruti Chheta managing the scheme since January 16, 2023.
Inception date of MASF 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
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.
Note : With reference to SEBI Circular no. SEBI/HO/IMD/IMD-11 DOF-3/CIR/2021/573 dated June 07, 2021 disclosure of Potential Risk Class (PRC) Matrix is provided for debt Schemes of Mirae Asset Mutual Fund.
| IDCW (₹) Per Unit | |||
| Record Date | IDCW (₹) | Face Value (₹) | Cum Nav (₹) |
24-Nov-22 |
5.8398 |
5.8398 |
1,092.9761 |
26-Dec-22 |
5.4821 |
5.4821 |
1,092.6184 |
24-Jan-23 |
5.1468 |
5.1468 |
1,092.2831 |
24-Feb-23 |
4.8455 |
4.8455 |
1,091.9818 |
Quarterly Dividend |
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| Record Date | IDCW (₹) | Face Value (₹) | Cum Nav (₹) |
14-Jul-22 |
6.0000 |
6.0000 |
1,007.8770 |
17-Oct-22 |
6.0000 |
6.0000 |
1,007.8770 |
20-Jan-23 |
16.0000 |
16.0000 |
1,016.8249 |
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 MASF- Regular Savings Plan - Monthly IDCW Option and Quarterly IDCW Option