Business Wire IndiaMirae Asset Investment Managers India, one of the fastest-growing mutual fund houses in the country, announced the completion of ten years of the ‘Mirae Asset Great Consumer Fund’ (the Fund), on March 29th, 2021.
- The fund’s AUM has increased to Rs 1,140.20 crore as on 28th February 2021.
- The number of folios in the scheme is 47,747 as on 28th February 2021.
- The fund aims to capture growth from a broad range of sectors that will benefit directly or indirectly from increased consumption led demand in India.
- Consumer is a theme which has tremendous growth potential and includes businesses in FMCG, Autos, Realty, Healthcare, Education, Media & Entertainment, Banks & Financial Services, Telecom, Transportation, Tourism & Hospitality and E-commerce.
- Portfolio will comprise of growth companies which has strong return ratio (ROE) and possess sustainable competitive advantage.
- Portfolio will comprise 35-40 stocks (+/-5 stocks).
Speaking about this milestone, Mr. Swarup Mohanty, CEO, Mirae Asset Investment Managers India said, “The Indian consumption story is as compelling today as it was ten years ago when the “Mirae Asset Great Consumer Fund” was launched. India remains a young country with dreams and aspirations, and that gives the segment, a growth driver for the economy, significant headroom for future growth, as India continues its march to becoming a USD 5-trillion economy. We are committed to continue our endeavor to provide optimum returns for our investors in this fund by staying focused on our core values of investing in quality, growth-oriented businesses, team-based approach to investing that seeks to execute the best ideas and last but not the least, discipline.”
“India consumption theme continues to be a fascinating theme with multi-decade opportunity driven by favorable demographic dividend. With India crossing $2000 per capita income, is at an inflection point which should result in significant growth in private final consumption expenditure growth over next decade. Last 10-year track record for the fund is a testament to our investment philosophy which is to invest in quality growth businesses at a reasonable price through bottom up stock selection,” said Mr. Ankit Jain, Fund Manager, Mirae Asset Investment Managers (India) Pvt. Ltd.
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