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. 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** |
Mr. Basant Bafna #
(since February 1, 2024) 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 / 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 29, 2024 |
481.52 Net AUM (₹ Cr.) |
463.30 Monthly Total Expense Ratio |
(Including Statutory Levies) as on February 29, 2024 Regular Plan: 0.89% Direct Plan: 0.27% **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 | ₹ 2,209.8913 | ₹ 2,047.4508 |
| Daily IDCW | ₹ 1,208.9337 | ₹ 1,005.1646 |
| Weekly IDCW | ₹ 1,454.7777 | ₹ 1,106.9635 |
| Monthly IDCW | ₹ 1,160.3450 | ₹ 1,087.8169 |
| Quarterly IDCW | ₹ 1,010.8245 | ₹ 1,010.0762 |
| Average Maturity | 346.75 Days |
| Modified Duration | 0.85 Years |
| Macaulay Duration | 0.90 Years |
| Annualized Portfolio YTM* | 8.01% |
*In case of semi annual YTM, it will be annualized.
| Portfolio Holdings | % Allocation | Debt Instruments |
|
8.57% ONGC Petro Additions Limited (11/09/2024) |
3.25% |
7.42% Bajaj Housing Finance Limited (12/07/2024) ** |
3.22% |
7.13% Power Finance Corporation Limited (08/08/2025) ** |
3.21% |
6.25% Embassy Office Parks REIT (18/10/2024) ** |
3.20% |
5.776% LIC Housing Finance Limited (11/09/2025) ** |
3.14% |
7.25% National Bank For Agriculture and Rural Development (01/08/2025) ** |
2.78% |
7.16% Power Finance Corporation Limited (24/04/2025) ** |
2.68% |
4.7% Government of India (22/09/2033) |
2.18% |
7.89% GUJARAT SDL (15/05/2025) |
2.17% |
7.8% National Bank For Agriculture and Rural Development (15/03/2027) ** |
2.16% |
7.68% Indian Railway Finance Corporation Limited (24/11/2026) ** |
2.16% |
7.06% Government of India (10/04/2028) |
2.16% |
9.5% Motilal Oswal Finvest Limited (12/09/2025) ** |
2.16% |
7.6% REC Limited (27/02/2026) ** |
2.15% |
7.1% Muthoot Finance Limited (20/06/2024) ** |
2.15% |
5.27% National Bank For Agriculture and Rural Development (29/04/2024) |
2.15% |
7.38% Cholamandalam Investment and Finance Company Ltd (31/07/2024) ** |
2.14% |
7.15% Small Industries Dev Bank of India (21/07/2025) ** |
2.14% |
7.86% Nexus Select Trust - REIT (16/06/2026) ** |
1.61% |
8.8% Bharti Telecom Limited (21/11/2025) ** |
1.51% |
8.9% Bharti Telecom Limited (04/12/2025) ** |
1.30% |
7.59% Small Industries Dev Bank of India (10/02/2026) ** |
1.07% |
8% Mahindra & Mahindra Financial Services Limited (26/06/2025) ** |
1.07% |
7.9% Bajaj Finance Limited (17/11/2025) ** |
1.07% |
7.11% Small Industries Dev Bank of India (27/02/2026) ** |
1.07% |
7.75% Karnatak SDL (01/03/2027) |
0.55% |
7.32% REC Limited (27/02/2026) ** |
0.32% |
7.38% Government of India (20/06/2027) |
0.22% |
Debt Instruments Total |
55.00% |
Certificate of Deposit |
|
Punjab National Bank (02/04/2024) ** # |
5.36% |
Small Industries Dev Bank of India (06/06/2024) ** # |
5.29% |
Kotak Mahindra Bank Limited (06/09/2024) ** # |
3.11% |
AU Small Finance Bank Limited (04/09/2024) ** # |
3.11% |
Bank of Baroda (27/05/2024) ** # |
2.76% |
Kotak Mahindra Bank Limited (26/06/2024) ** # |
2.11% |
Union Bank of India (21/02/2025) ** # |
2.01% |
HDFC Bank Limited (20/02/2025) ** # |
2.01% |
ICICI Bank Limited (12/06/2024) ** # |
1.90% |
Axis Bank Limited (17/05/2024) # |
1.06% |
Certificate of Deposit Total |
28.70% |
Commercial Paper |
|
Shriram Housing Finance Limited (28/08/2024) ** |
3.11% |
Angel One Limited (15/05/2024) ** |
2.54% |
Motilal Oswal Finvest Limited (07/03/2024) ** |
2.16% |
IIFL Samasta Finance Limited (24/04/2024) ** |
1.70% |
Birla Group Holdings Private Limited (14/02/2025) ** |
1.19% |
Commercial Paper Total |
10.70% |
Treasury Bill |
|
364 Days Tbill (13/06/2024) |
2.12% |
Treasury Bill Total |
2.12% |
Corporate Debt Market Development Fund^ |
|
Class A2 units of Corporate Debt Market Development Fund # |
0.33% |
Corporate Debt Market Development Fund Total |
0.33% |
Cash & Other Receivables Total |
3.15% |
Total |
100.00% |
** Thinly Traded / Non Traded Security # Unlisted Security
^Please refer to notice-cum-addendum no. 58/2023 https://www.miraeassetmf.co.in/downloads/statutory-disclosure/addendum
| Returns (in%) | |||||
| 1 Year | 3 Years | 5 Years | Since inception | Value of 10000 invested Since Inception (in Rs.) | |
| Mirae Asset Low Duration Fund | 6.90% |
4.87% |
5.20% |
6.32% |
20,475 |
| Scheme Benchmark* | 8.01% |
5.84% |
6.36% |
7.52% |
23,335 |
| Additional Benchmark** | 9.42% |
4.36% |
6.21% |
6.54% |
20,976 |
| NAV as on 29th February, 2024 | ₹ 2,047.4508 | ||||
| Index Value (29th February, 2024) | Index Value of benchmark is 5,101.78 and CRISIL 10 Year Gilt Index is 4,523.48 |
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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 : 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.
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) |
25-Sep-23 |
6.0255 |
6.0255 |
1,093.1618 |
25-Oct-23 |
4.6514 |
4.6514 |
1,091.7877 |
24-Nov-23 |
5.2837 |
5.2837 |
1,092.4200 |
26-Dec-23 |
6.7671 |
6.7671 |
1,093.9034 |
Regular Plan - Quarterly |
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| Quantum (₹ per unit) | |||
| Record Date | Individual | Corporate | NAV (₹ per unit) |
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 |
12-Oct-23 |
17.00 |
1000.00 |
1017.4186 |
Direct Plan - Quarterly |
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| Quantum (₹ per unit) | |||
| Record Date | Individual | Corporate | NAV (₹ per unit) |
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 |
12-Oct-23 |
30.00 |
1000.00 |
1030.3847 |
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
*Pursuant to notice cum addendum no. 62/2023, the name of schemes of Mirae Asset Mutual Fund has been changed with effect from December 15, 2023.