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. 37 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. 37 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 -
(since January 16, 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 September 29, 2023 |
576.64 Net AUM (₹ Cr.) |
575.84 Monthly Total Expense Ratio |
(Including Statutory Levies) as on September 29, 2023 Regular Plan: 0.92% Direct Plan: 0.32% **For experience of Fund Managers Click Here |
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| NAV: | Direct | Regular Savings |
| Growth | ₹ 2,145.8090 | ₹ 1,992.8529 |
| Daily IDCW | ₹ 1,208.9337 | ₹ 1,005.1646 |
| Weekly IDCW | ₹ 1,454.8689 | ₹ 1,106.9979 |
| Monthly IDCW | ₹ 1,160.3385 | ₹ 1,087.7999 |
| Quarterly IDCW | ₹ 1,029.6349 | ₹ 1,016.7940 |
| Average Maturity | 356.27 Days |
| Modified Duration | 0.87 Years |
| Macaulay Duration | 0.91 Years |
| Annualized Portfolio YTM* | 7.61% |
*In case of semi annual YTM, it will be annualized.
| Portfolio Holdings | % Allocation |
| Certificate of Deposit | |
| Bank of Baroda (20/12/2023) ** # | 4.28% |
| HDFC Bank Ltd (05/02/2024) # | 4.23% |
| Indian Bank (05/02/2024) ** # | 4.23% |
| NABARD (13/03/2024) ** # | 4.21% |
| Axis Bank Ltd (20/03/2024) ** # | 4.20% |
| Small Industries Dev Bank of India (06/06/2024) ** # | 4.13% |
| Union Bank of India (09/02/2024) ** # | 3.38% |
| NABARD (23/01/2024) # | 2.89% |
| Kotak Mahindra Bank Ltd (06/09/2024) ** # | 2.43% |
| AU Small Finance Bank Ltd (04/09/2024) ** # | 2.43% |
| Canara Bank (14/12/2023) ** # | 1.71% |
| Axis Bank Ltd (14/03/2024) ** # | 1.68% |
| Kotak Mahindra Bank Ltd (26/06/2024) ** # | 1.65% |
| State Bank of India (15/03/2024) # | 1.35% |
| Certificate of Deposit Total | 42.80% |
| Corporate Bond | |
| 7.1% Muthoot Finance Ltd (20/06/2024) ** | 4.31% |
| 7.9237% Bajaj Housing Finance Ltd (16/03/2026) ** | 2.61% |
| 8% Mahindra & Mahindra Financial Services Ltd (26/06/2025) | 2.60% |
| 7.42% Bajaj Housing Finance Ltd (12/07/2024) ** | 2.60% |
| 7.38% Cholamandalam Investment and Finance Company Ltd (31/07/2024) | 2.59% |
| 7.13% Power Finance Corporation Ltd (08/08/2025) | 2.58% |
| 6.25% Embassy Office Parks REIT (18/10/2024) ** | 2.56% |
| 5.776% LIC Housing Finance Ltd (11/09/2025) ** | 2.51% |
| 9.5% Motilal Oswal Finvest Ltd (12/09/2025) ** | 1.74% |
| 7.6% REC Ltd (27/02/2026) ** | 1.73% |
| 7.15% Small Industries Dev Bank of India (21/07/2025) ** | 1.72% |
| 7.9% Bajaj Finance Ltd (17/11/2025) ** | 0.87% |
| 7.59% Small Industries Dev Bank of India (10/02/2026) ** | 0.87% |
| 4.64% Oil & Natural Gas Corporation Ltd (21/11/2023) ** | 0.87% |
| 7.11% Small Industries Dev Bank of India (27/02/2026) ** | 0.86% |
| 7.32% REC Ltd (27/02/2026) ** | 0.26% |
| Corporate Bond Total | 31.27% |
| Commercial Paper | |
| Motilal Oswal Finvest Ltd (09/11/2023) ** | 4.30% |
| HDFC Bank Ltd (11/12/2023) ** | 2.57% |
| Godrej Properties Ltd (27/12/2023) ** | 2.56% |
| Shriram Housing Finance Ltd (28/08/2024) ** | 2.42% |
| Commercial Paper Total | 11.85% |
| Government Bond | |
| 4.7% GOI FRB (22/09/2033) | 3.54% |
| 7.06% GOI (10/04/2028) | 1.73% |
| 7.26% GOI (06/02/2033) | 0.87% |
| 7.38% GOI (20/06/2027) | 0.17% |
| Government Bond Total | 6.31% |
| Treasury Bill | |
| 364 Days Tbill (08/02/2024) | 2.54% |
| 182 Days Tbill (08/02/2024) | 0.85% |
| Treasury Bill Total | 3.39% |
| State Government Bond | |
| 7.89% GUJARAT SDL (15/05/2025) | 1.75% |
| 7.75% Karnatak SDL (01/03/2027) | 0.44% |
| State Government Bond Total | 2.19% |
| Cash & Other Receivables Total | 2.20% |
| Total | 100.00% |
** Thinly Traded / Non Traded Security # Unlisted Security
| Returns (in%) | ||||
| 1 Yr | 3 Yrs | 5 Yrs | SI | |
| MASF | 6.44% | 4.43% | 5.33% | 6.31% |
| Scheme Benchmark* | 7.65% | 5.44% | 6.49% | 7.53% |
| Additional Benchmark** | 8.07% | 3.27% | 6.66% | 6.43% |
| NAV as on 29th September, 2023 | ₹ 1,992.8529 | |||
| Index Value (29th September, 2023) | Index Value of benchmark is 4,950.54 and CRISIL 10 Year Gilt Index is 4,353.19 |
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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
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. 51/2023 riskometer of the scheme has changed. Please visit the website for more details https://www.miraeassetmf.co.in/downloads/statutory-disclosure/addendum
Monthly |
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| Quantum (₹ per unit) | |||
| Record Date | Individual | Corporate | NAV (₹ per unit) |
26-Jun-23 |
5.6381 |
5.6381 |
1,092.7744 |
24-Jul-23 |
5.6795 |
5.6795 |
1,092.8158 |
24-Aug-23 |
5.2512 |
5.2512 |
1,092.3875 |
25-Sep-23 |
6.0255 |
6.0255 |
1,093.1618 |
Regular Plan - Quarterly |
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| Quantum (₹ per unit) | |||
| Record Date | Individual | Corporate | NAV (₹ per unit) |
17-Oct-22 |
12.00 |
1000.00 |
1013.0400 |
20-Jan-23 |
16.00 |
1000.00 |
1016.8200 |
13-Apr-23 |
14.75 |
1000.00 |
1016.3800 |
11-Jul-23 |
16.50 |
1000.00 |
1017.0554 |
Direct Plan - Quarterly |
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| Quantum (₹ per unit) | |||
| Record Date | Individual | Corporate | NAV (₹ per unit) |
17-Oct-22 |
13.00 |
1000.00 |
1014.5800 |
20-Jan-23 |
18.00 |
1000.00 |
1019.0400 |
13-Apr-23 |
16.00 |
1000.00 |
1017.8300 |
11-Jul-23 |
18.00 |
1000.00 |
1018.6632 |
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 & Direct Savings Plan - Monthly IDCW Option and Quarterly IDCW Option