Mirae Final 260324

(Title of Book-with golden Amboise)
TITLE OF THE PROJECT
A Project Submitted to
University of Mumbai for partial completion of the degree of
Bachelor of Accounting & Finance
Under the Faculty of Commerce
By
_______student name_________
Under the Guidance of

Prof. ……….
Shri Chinai College of Commerce and Economics

Andheri- East, Mumbai – 400 069
April, 2024
(1st Page inside the book)
TITLE OF THE PROJECT (TITLE)
A Project Submitted to
University of Mumbai for partial completion of the degree of
Bachelor of Accounting & Finance

Under the Faculty of Commerce
By
____(STUDENT NAME)____________
T.Y.B.A.F (SEM VI)
Under the Guidance of
Prof……..
Shri Chinai College of Commerce and Economics
April, 2024
SHRI CHINAI COLLEGE OF COMMERCE AND ECONOMICS
Certificate
This is to certify that Ms/Mr. _____________________________ has worked and duly

completed her/his Project Work for the degree of Bachelor of Accounting & Finance under
the Faculty of Commerce in the subject of Finance and her /his project is entitled,
“_________________________________” under my supervision.
I further certify that the entire work has been done by learner under my guidance and that no
part of it has been submitted previously for any Degree or Diploma of any University.
It is her/ his own work and facts reported by her/his personal findings and investigations.
Date of Submission:
________________ _________________
Project Guide External Examiner
________________ _________________
BAF Co-Ordinator I/C Principal

Declaration by learner
I the undersigned Miss. / Mr. ___________________________ here by, declare that the work
embodied in this project work titled “ ______________________
_______________________________________________________________”
Forms my own contribution to the research work carried out under the guidance of
Prof……… .is a result of my own research work and had not been previously submitted to any
other University for any other Degree / Diploma to this or any other University.
Wherever reference has been made to previous works of others, it has been clearly indicated as
such and included in the bibliography.
I, here by further declare that all information of this document has been obtained and presented
in accordance with academic rules and ethical conduct.
Name and Signature of the learner
Certified by
Prof. Name & Sign of Guide

Acknowledgment
To List who all have helped me is difficult because they are so numerous and the depth is so
enormous.
I would like to acknowledge the following as being idealistic channels and fresh dimensions in
the completion of this project.
I take this opportunity to thank the University of Mumbai for giving me chance to do this
Project.
I would like to thank my I/C Principal, Dr. B.B.Kamble sir for providing the necessary
facilities required for completion of this project.
I take this opportunity to thank our Coordinator Prof. Prasika Gaikwad, for her moral
support and guidance.
I would also like to express my sincere gratitude towards my project guide

________ whose guidance and care made the project successful.
I would like to thank my College Library, for having provided various reference books and
magazines related to my project.
Lastly, I would like to thank each and every person who directly or indirectly helped me in the
completion of the project especially my Parents and Peers who supported me throughout my
project.
INTRODUCTION OF MIRAE ASSET MUTUAL FUND
INDEX
Chapter No. Particular Page
No.
1 1. Introduction 01
1.1 Definition 01
1.2 NAV 04
 1.3 SIP-Systematic Investment Plan 05
 1.4 Fund Manager 06
 1.5 Role of a Fund Manager 06
 1.6 Duties of a Fund Manager 06
 1.7 Steps to invest in any Mutual Fund 07
 1.8 MIRAE Asset Mutual Fund : Detailed Overview 07
 1.8.1 Background 07
 1.8.2 Company Overview 07
 1.8.3 Investment Philosophy 08
 1.8.4 Key Offerings 08
 1.8.5 Performance 08
 1.8.6 Investor Service 08
 1.8.7 Regulatory Compliance 08
 1.8.8Innovation and trends 08
 1.9 Educational Resource 08
 1.10 Features of MIRAE Mutual Fund 09
 1.11 Importance of MIRAE Mutual Fund 10-11
 1.12 Significance of MIRAE Mutual Fund 12-13
 1.13 Benefits of MIRAE Mutual Fund 14
 1.14 Global Expansion and Presence of Mirae Asset Financial 15
Group
 1.15 Key Affliates 15
 1.16 Top 15 Mutual Fund Schemes 16
 1.17 Diverse Investment Functions 16
 1.18 Step by Step process of Investing in Mirae Asset Mutual 20
Fund Online
 1.19 SIP and Lumpsum
 1.20 Awards and Recognition of Mirae Assets Mutual Funds
 1.21 Professional Management: Unleash the Power of Expertise
 1.22 Loans against Mutual Funds
 1.23 The Benefits of Mutual Funds are multiple, making them an
attractive investment choice for achieving financial goals
effectively
2 RESEARCH AND METHODOLOGY 01
2.1 Investing in Mirae Mutual Funds 01
2.2 KYC required to invest in Mirae Mutual Funds 02
2.3 Advance Portfolio Management 04
2.4 Dividend Reinvestment 05
2.5 Risk Reduction (SAFETY) 06
2.6 Convenience and Fair Pricing 06
2.7 Certain Advantages of Mutual Funds 06
2.8 Disadvantages of Mutual Funds 07
2.9 Mirae Asset Asia Pacific Research 07
2.10 Tax Benefits of Investing in Mirae Asset Mutual Funds 07
2.11 Awards and Recognition of Mirae Asset Mutual Funds
2.12 Reasons to invest in Mirae Asset Mutual Funds
2.13 Invest in Mirae Asset Mutual Funds
2.14 Growth and Development of Mutual Funds Industry: The case
of Indian Market
2.15 Portfolio Strategy
3 LITERATURE REVIEW 07
3.1 The First Mutual Funds 08
3.2 Growing Mutual Funds Industry Statistics 08
3.3 Future of the Mutual Fund Industry 08
4 DATA ANALYSIS 08
4.1 Questionnaire 08
5 CONCLUSION 10-
11
6 BIBLIOGRAPHY 16
Chapter 1: INTRODUCTION
1.1 MUTUAL FUNDS DEFINITION:

Mutual Fund is an investment programme funded by shareholders that trades in diversified holdings and is
professionally managed.
A mutual fund is a company that pools money from many investors and invests the money in securities such as
stocks, bonds, and short-term debt. A mutual fund is an investment vehicle where many investors pool their
money to earn returns on their capital over a period. The combined holdings of the mutual fund are known as its
portfolio. Investors buy shares in mutual funds.
Mutual funds are an easy, convenient way to invest, without having to worry about choosing individual stocks. A
mutual fund can be defined as a single portfolio of stocks, bonds, and/or cash managed by an investment company
on behalf of many investors. The investment company manages the fund, and sells shares in the fund to individual
investors. When one invests in a mutual fund, they become a part-owner of a large investment portfolio, along
with all the other shareholders of the fund. The fund manager invests the contributions when shares are purchased,
along with money from the other shareholders. Every day, the fund manager counts up the value of all the fund's
holdings, figures out how many shares have been purchased by the Investor.
These funds can also specialize in bonds, stocks, or some mix of the two. An international fund can also specialize
in a particular country or region of the world, such as the Pacific Rim, Latin America, or Germany.
Investors have a basic choice: they can invest directly in individual securities, or they can invest indirectly
through a financial intermediary. Financial intermediaries gather savings from investors and invest these monies
in a portfolio of financial assets.
A mutual fund is a type of financial intermediary that pools the funds of investors who seek the same general
investment objective and invests there in a number of different types of financial claims (e.g., equity shares,
bonds, money market instruments).
These pooled funds provide thousands of investors with proportional ownership of diversified portfolios
managed by professional investment managers. The term ‘mutual’ is used in the sense that all its returns, minus
its expenses, are shared by the fund’s unit holders.
A Mutual Fund is one of the most viable investment options for the common man as it offers an opportunity to
invest in a diversified, professionally managed basket of securities at a relatively low cost.
Investors in mutual funds buy shares or units of the fund, and their returns depend on the fund's overall
performance. The success of a mutual fund is often measured by factors such as total returns, risk-adjusted
returns, and consistency in achieving its investment objectives over time.
Mutual funds play a significant role in the financial markets and are widely considered an essential component
of the investment landscape. Here are several key aspects that highlight the significance of mutual funds in the
financial market.
The significance of mutual funds in the financial markets lies in their ability to democratize investing, provide
professional management, offer diversification, and serve as accessible vehicles for a wide range of investors
with varying financial goals and risk tolerances.
1.2 NAV: This corpus of funds is managed by an investment professional known as a fund manager or portfolio
manager. It is his/her job to invest the corpus in different securities such as bonds, stocks, gold and other assets
and seek to provide potential returns. The gains (or losses) on the investment are shared collectively by the
investors in proportion to their contribution to the fund. Each investor owns units, which represent a portion of
the holdings of the fund. The income/gains generated from this collective investment is distributed
proportionately amongst the investors after deducting certain expenses, by calculating a scheme’s Net Asset
Value or NAV.
1.3 SIP - Systematic Investment Plan
Systematic Investment Plan or SIP is a method of investing in mutual funds wherein an investor chooses a
mutual fund scheme and invests the fixed amount of his choice at fixed intervals.
SIP investment plan is about investing a small amount over time rather than investing one-time huge amount
resulting in a higher return.
Once you apply for one or more SIP plans, the amount is automatically debited from your bank account and
invested in the mutual funds you have purchased at the predetermined time interval.
At the end of the day, you will be allocated the units of mutual funds depending on the NAV of the mutual fund.
With every investment in an SIP plan in India, the additional units are added to your account depending on the
market rate. With every investment, the amount being reinvested is larger and so is the return on those
investments.
It is at the discretion of the investor to receive the returns at the end of the SIP’s tenure or at a periodic interval
One of the best features about investing in mutual funds is that you don’t need a large amount of money to start
investing. Most fund houses in the country allow investors to begin investing with as little as Rs. 500 (some start
at Rs. 100) per month through Systematic Investment Plans (SIPs). Now, this might seem like a tiny amount to
begin your investment journey, but when you invest consistently over a considerable period, you can achieve a
substantial sum.
SIP is a method of investing in mutual funds where you invest a specific amount at fixed intervals. This way,
you can avoid timing the market and increase your wealth steadily.
Here’s an example to illustrate the SIP point:

Let’s imagine you invest Rs. 5,000 per month in an equity fund for 15 years. The fund offers an annual return of
12%. At the end of the investment period, you would have amassed a corpus of over Rs. 25 lakh. Now, if you
continue investing the same amount for another ten years (total 25 years), you would get a total sum of almost
Rs.95 lakh! This is roughly four times the amount in an additional ten years.
This is the power of compounding. The returns you earn in turn begin to make profits for you. So, when you
invest for a longer time frame, your gains also rise higher. But to gain the maximum benefit of compounding,
you should start investing as early as possible and invest for as long as possible. This can give you an extended
investment window to increase your returns.
1.4 Fund Manager
One of the most important aspects of investing in mutual funds is the management of the portfolio of the stocks
and bonds and any other asset class. The fund is managed either actively or passively by a fund manager. This
has a considerable impact on the performance of the fund and your portfolio over time. It will be fair to say that
the role of a fund manager is pivotal in either making or breaking your investment.
A mutual fund manager is a financial professional entrusted with the task of overseeing the investment
portfolio of a mutual fund. These skilled individuals are responsible for making investment decisions that
align with the fund's objectives and generating returns for investors.
1.5 Role of a Fund Manager

 Meeting the reporting requirements.
 Complying with Regulatory Authorities
 The Protection of Wealth
 Monitor the growth and performance of the fund
 Oversight and Hiring
1.6 Duties of a Fund Manager
Apart from the comprehensive knowledge on the subject and far-reaching insights, fund managers gather
invaluable insights from their research team. Some other considerations include:
 They check for the shifts in the stock market to analyse the volume of the shifts
 An analysis of the competition in the industry plays an equally vital role to gauge the macroeconomic
outlook
 A thorough review of the annual results of the companies that the fund manager intends to invest in
 Finally, all the information mentioned above is weighed along with the experience of the top managers
and directors before making investing decisions Investing in mutual funds is subject to market risk.
1.7 Steps to invest in any Mutual fund
Investing in mutual funds has become effortless. You can even do it right from your home. Here are the steps
you can follow to begin your investment journey:
1. Sign up for a mutual fund account on visit Mutual Fund's official website
2. Complete your KYC formalities
3. Enter the necessary details as required
4. Identify the funds you wish to invest based on your financial goals
5. Select the fund and transfer the required amount
6. You can also create a standing instruction with your bank in case you invest in a SIP each month.
1.8 Mirae Asset Mutual Fund: Detailed Overview

1.8.1 Background:
Parent Company:
Mirae Asset Financial Group is a South Korean multinational financial services company headquartered in
Seoul, South Korea. Mirae Asset provides comprehensive financial services including asset management,
wealth management, investment banking, and life insurance. Mirae Asset was founded by Hyeon Joo Park in
1997 and introduced the very first mutual funds to Korean retail investors in 1998. Hyeon Joo Park is the
founder and Global Strategy Officer (GSO) of the Mirae Asset Financial Group. His leadership and
entrepreneurial spirit has been the driving force behind the global rise of Mirae Asset, where he has spearheaded
continuous change as a permanent innovator. He has focused on the role of GSO since 2018 embarking on a
mission to grow and evolve Mirae Asset’s global platform. His transition to GSO ushered in an institutionalized
management model, the engine of the group’s success worldwide.
1.8.2 Company Overview: Mirae Asset Mutual Fund is part of the Mirae Asset Financial Group, a global
financial services organization based in South Korea. The mutual fund arm operates in various countries,
offering a range of investment products.
1.8.3 Investment Philosophy:

a. Global Presence: Mirae Asset has a global perspective on investments, leveraging insights and
opportunities across different markets.
b. Research-Driven: The fund management approach is often research-driven, focusing on in-depth
analysis and market intelligence.
1.8.4 Key Offerings:

 Diverse Fund Categories: Mirae Asset Mutual Fund typically offers a diverse range of mutual fund schemes
across asset classes such as equity, debt, and hybrid funds.
 Equity Funds: They may have equity funds investing in various market segments, including large-cap, mid-
cap, and thematic funds.
 Debt Funds: Offerings may include debt funds with varying risk profiles based on the type of fixed-income
securities.
1.8.5 Performance:
 Track Record: Mirae Asset Mutual Fund's performance can be evaluated by looking at the historical returns
and risk metrics of their various funds.
 Fund Manager Expertise: The performance of mutual funds is often influenced by the expertise and decisions
of the fund managers.
1.8.6 Investor Services:

 Online Platforms: Mirae Asset Mutual Fund likely provides online platforms for investors to manage their
investments, including features such as online account access, statements, and transaction capabilities.
 Customer Support: Access to customer support for inquiries, assistance, and guidance on fund selection and
portfolio management.
1.8.7 Regulatory Compliance:

 Regulatory Adherence: Like all mutual fund companies, Mirae Asset Mutual Fund adheres to the regulatory
guidelines set by the respective financial authorities in the countries where they operate.
1.8.8 Innovation and Trends:

 Adaptation to Market Trends: The company may adapt to market trends, incorporating innovative fund
offerings or sustainable investment options based on investor preferences.
1.9 Educational Resources:

 Investor Education: Mirae Asset Mutual Fund may provide educational resources, market insights, and
research reports to help investors make informed decisions.
1.10 Features of Mirae Mutual fund :
 Diversification: Mutual funds spread investments across a variety of assets, reducing the impact of poor
performance in any single security and promoting risk mitigation.
 Professional Management: Fund managers, equipped with expertise and market knowledge, actively
manage the fund's portfolio to optimize returns within the defined investment strategy.
 Liquidity: Investors can buy or sell mutual fund shares at the net asset value (NAV) on any business
day. This liquidity provides flexibility for investors to enter or exit the fund.
 Accessibility: Mutual funds are accessible to a wide range of investors, offering an entry point for
individuals with different risk tolerances and investment goals.
 Variety of Funds: There are various types of mutual funds, each with its own investment objectives.
Common categories include equity funds, bond funds, money market funds, and hybrid funds.
 Net Asset Value (NAV): The NAV represents the per-share value of a mutual fund and is calculated by
dividing the total value of the fund's assets minus liabilities by the number of outstanding shares.
 Distribution of Profits: Mutual funds may distribute profits to investors in the form of capital gains,
dividends, or interest income. The frequency and method of distribution depend on the fund's structure
and strategy.
 Regulation: Mutual funds are subject to regulatory oversight to protect investors' interests. Regulatory
bodies set guidelines and standards to ensure transparency and fair practices within the mutual fund
industry.
1.11 Importance of MIRAE Mutual Fund
a. Diversification of Investments:
Mutual funds provide investors with access to a diversified portfolio of securities. This diversification helps
spread risk across different asset classes, industries, and geographic regions, reducing the impact of poor
performance in any single investment.
b.Accessibility to Small Investors :
Mutual funds offer a low-cost entry point for small investors to participate in the financial markets.
Individuals with limited capital can invest in a professionally managed portfolio, gaining exposure to a
broad range of assets that might be challenging to achieve individually.
c.Professional Management :
Fund managers, who are typically experienced financial professionals, actively manage mutual fund
portfolios. Their expertise in market analysis and investment decision-making aims to optimize returns
within the fund's defined objectives, providing investors with the benefits of professional management.
d.Liquidity and Flexibility :

Mutual funds are generally liquid investments. Investors can buy or sell fund shares on any business day at
the net asset value (NAV). This liquidity provides flexibility, allowing investors to adjust their portfolios
based on changing market conditions or personal financial goals.
e. Risk Mitigation :
The concept of risk mitigation is integral to mutual funds. Through diversification and professional
management, mutual funds aim to balance risk and return. This is particularly beneficial for investors who
may lack the time, knowledge, or resources to actively manage their own investment portfolios.
f. Variety of Investment Options :

Mutual funds come in various types, such as equity funds, bond funds, money market funds, index funds,
and sector-specific funds. This variety allows investors to choose funds that align with their investment
objectives, risk tolerance, and time horizon.
g. Regulatory Oversight and Investor Protection :

Mutual funds operate within a regulated framework, subject to oversight by regulatory authorities.
Regulatory measures aim to ensure transparency, fair practices, and investor protection. This regulatory
environment contributes to the credibility and trustworthiness of mutual funds.
h. Income Generation and Dividend Distributions :

Many mutual funds generate income through dividends and interest from their underlying securities. This
income is often distributed to investors in the form of dividends, providing a potential income stream for
those seeking regular payouts.
i. Retirement Planning :
Mutual funds are commonly used as investment vehicles for retirement planning, offering long-term growth
potential and diversification. Retirement-focused funds, such as target-date funds, help investors manage
risk based on their anticipated retirement date.
j.Market Indicator and Benchmarking :

Mutual funds, especially index funds and ETFs, serve as indicators of market performance. Index funds are
designed to replicate the performance of a specific market index, providing investors with a benchmark for
evaluating their own investment returns.
1.12 Significance of MIRAE Mutual Fund
Based on Asset Class:
1. Equity Funds:
 Objective: Primarily invest in stocks or equities.
 Risk/Reward Profile: Higher risk and potential for higher returns.
 Investor Profile: Suited for investors seeking long-term capital appreciation.
2. Bond Funds:
 Objective: Invest in fixed-income securities like government or corporate bonds.
 Risk/Reward Profile: Generally lower risk than equity funds, with potential for income through interest
payments.
 Investor Profile: Suited for those seeking income generation and lower volatility.
3. Money Market Funds:

 Objective: Invest in short-term, low-risk, highly liquid securities like Treasury bills and commercial
paper.
 Risk/Reward Profile: Low risk, with lower potential returns compared to equity and bond funds.
 Investor Profile: Ideal for investors seeking capital preservation and short-term liquidity.
4. Hybrid Funds:
 Objective: Combine both equity and debt instruments to achieve a balanced portfolio.
 Risk/Reward Profile: Moderate risk, providing a balance between potential growth and income.
 Investor Profile: Suited for investors looking for a diversified approach with a blend of risk and return.

B. Based on Structure:
Open-End Funds:
 Characteristics: Investors can buy or sell shares directly from the fund at the net asset value (NAV).
The fund continuously issues and redeems shares based on investor demand.
 Flexibility: Can vary the size of the fund based on investor interest.
2. Closed-End Funds:
 Characteristics: Issue a fixed number of shares through an initial public offering (IPO). Afterward,
shares are traded on secondary markets like stocks.

 Limited Redemptions: Investors buy and sell shares among themselves; the fund doesn't issue or
redeem shares based on demand.
 Discount/Premium: Shares may trade at a discount or premium to the NAV.
3. Exchange-Traded Funds (ETFs):

 Characteristics: Trade on stock exchanges like individual stocks.
 Creation/Redemption: Similar to open-end funds but with a mechanism that allows for in-kind creation
and redemption of shares.
 Intraday Trading: Can be bought or sold throughout the trading day at market prices.
Understanding the different types of mutual funds based on asset class and structure helps investors choose
funds that align with their investment objectives, risk tolerance, and preferences for liquidity and trading. Each
type serves distinct purposes and caters to various investor needs within the broader investment landscape.
MIRAE Mutual Fund is one of the most viable investment options for the common man as it offers an
opportunity to invest in a diversified, professionally managed basket of securities at a relatively low cost.
It is managed by Asset Management ies (AMC)
Most mutual funds fall into one of four main categories – money market funds, bond funds, stock funds, and
target date funds. Each type has different features, risks, and rewards.
 Money market funds have relatively low risks. By law, they can invest only in certain high-quality,
short-term investments issued by U.S. corporations, and federal, state and local governments.
 Bond funds have higher risks than money market funds because they typically aim to produce higher
returns. Because there are many different types of bonds, the risks and rewards of bond funds can vary
dramatically.
 Stock funds invest in corporate stocks. Not all stock funds are the same. Some examples are:
o Growth funds focus on stocks that may not pay a regular dividend but have potential for above-
average financial gains.
o Income funds invest in stocks that pay regular dividends.
o Index funds track a particular market index such as the Standard & Poor’s 500 Index.
o Sector funds specialize in a particular industry segment.
 Target date funds hold a mix of stocks, bonds, and other investments. Over time, the mix gradually
shifts according to the fund’s strategy. Target date funds, sometimes known as lifecycle funds, are
designed for individuals with particular retirement dates in mind.
1.13 BENEFITS OF MIRAE MUTUAL FUND:

There are many benefits of investing in mutual funds. Here are some important ones :
1. Professional expertise
Investing in financial markets requires a certain amount of skill. You need to research the market and
analyse the best options available. You need knowledge on matters such as macro economy, sectors,
company financials, from an asset class perspective. This requires a significant amount of time and
commitment from you.
But if you don’t have the skill or the time to delve deep into the market, investing in mutual funds can be
an excellent alternative. Here, a professional fund manager takes care of your investments and strives
hard to provide reasonable returns. And just as you would pay the driver for his chauffeuring services,
you have to pay specific fees for the professional management of your mutual fund investments.
2. Returns
One of the biggest mutual fund benefits is that you have the opportunity to earn potentially higher
returns than traditional investment options offering assured returns. This is because the returns on mutual
funds are linked to the market’s performance. So, if the market is on a bull run and it does exceedingly
well, the impact would be reflected in the value of your fund. However, a poor performance in the
market could negatively impact your investments. Unlike traditional investments ,mutual funds do not
assure capital protection. So do your research and invest in funds that can help you meet your financial
goals at the right time in life.
3. Diversification
When you invest only in a single asset, you could risk a loss if the market crashes. However, you can
avoid this problem by investing in different asset classes and diversifying your portfolio.
If you were investing in stocks and had to diversify, you would have to select at least ten stocks carefully
from different sectors. This can be a lengthy, time-consuming process. But when you invest in mutual
funds, you achieve diversification instantly. For instance, if you invest in a mutual fund that tracks the
BSE Sensex, you would get access to as many as 30 stocks across sectors in a single fund. This could
reduce your risk to a large extent.
4. Tax benefits
Mutual fund investors can claim a tax deduction of up to Rs. 1.5 lakh by investing in Equity Linked
Savings Schemes (ELSS). This tax benefit is eligible under Section 80C of the Income Tax Act. ELSS
funds come with a lock-in period of 3 years. Hence, if you invest in ELSS funds, you can only withdraw
your money after the lock-in period ends.
Another tax benefit is indexation benefit available on debt funds. In case of traditional products, all
interest earned is subject to tax. However, in case of debt mutual funds, only the returns earned over and
above the inflation rate (embedded in cost inflation index {CII}) are subject to tax. This could also help
investors earn higher post tax returns.
5. Higher Return on Investment (RoI)

All investors aim to achieve a higher RoI by investing in financial instruments such as mutual funds to
beat inflation and increase their wealth of the long-term. Mutual funds have greater prospects of
potentially providing highreturns over time as one can invest in a diverse range of sectors and industries.
6. Well-regulated
All mutual funds are regulated by the capital markets watchdog Securities and Exchange Board of India
(SEBI). This means that all mutual fund houses are required to follow the various mandates as laid down
by SEBI. This, in turn, protects the interests of the investors. Moreover, SEBI makes it mandatory for all
mutual funds to disclose their portfolios every month.
7. Easy Investment
It is very easy to invest in mutual funds, i.e. you can do this either online or offline. You simply need to
visit your Asset Management Company’s (AMC) website and submit the necessary documents to start
on your investment journey. Moreover, you can also visit your AMC in person and sign the physical
documents to get started. This ease of investment makes mutual funds are preferable avenue.
FEATURES :
It is often said that mutual fund investments can help you achieve your financial goals effectively. Mutual funds
have gained immense popularity as a preferred investment choice for numerous investors owing to the multiple
benefits of mutual funds.
While the benefits of mutual funds investments are multiple, it is crucial to know what mutual funds are, the
various types of mutual funds in India, and how mutual funds actually work.
The most important reason for the popularity of mutual funds in India is that Investing in mutual funds brings
numerous benefits, making it an attractive choice for investors.
Mutual fund benefits include diversification across various securities like stocks, equities, and bonds, expert
money management by professionals, cost advantages due to pooling resources, clear transparency in
operations, and much more.
Tax Benefits: Save More as You Invest

Mutual funds in India often offer tax benefits that help you save money while your investments grow.
According to the Union Budget 2023, there has been a significant change in the taxation rules for debt funds
effective from April 1, 2023.
• Only ELSS mutual funds offer tax benefits under Section 80C of the Income Tax Act, 1961. Other mutual
funds are taxed as capital gains.
• Specified mutual funds, which invest less than 35% in equity, will lose the indexation benefit for gains from
April 1, 2023. Other debt funds will still have the indexation benefit for LTCG if held for more than 36 months.
• ELSS mutual funds have a lock-in period of three years and are subject to LTCG tax at 10% if the gains
exceed Rs 1 lakh in a financial year.
• Dividend income from mutual funds is taxable to investors at their applicable slab rates. There is no DDT on
mutual funds.
Transparency: Know What You’re Investing In

With mutual funds, transparency is a guiding principle. Fund houses provide detailed information about their
investment strategies, portfolio holdings, and past performance.
It’s like having a clear window into your mutual fund investments, empowering you to make well-thought-of
decisions as when you trade in mutual funds in India.
Rupee Cost Averaging: Tame the Market Volatility
Market ups and downs can be nerve-wracking for beginners. This serves as a crucial benefit of investing in
mutual funds. With systematic investment plans (SIPs), you benefit from rupee cost averaging.
When the markets are down, your SIP buys more units at lower prices, and when they rise, you buy fewer units
at higher prices. Over time, this balances the impact of market fluctuations, helping you achieve a favourable
average purchase price.
Flexibility: Tailor Your Investment Journey
Mutual funds cater to various investment goals. Whether you’re aiming for short-term gains, long-term growth,
or specific financial objectives like retirement or education, there’s a mutual fund in India suited to your needs.
Choose funds after analysing each category and analysing the benefits of mutual funds aligned with your risk
tolerance and objectives, giving you a personalised investment journey.
Wealth Creation: Let Your Money Grow with Time
With mutual funds investment, the power of compounding works its magic. As your investments generate
returns, these gains are reinvested. One of the interesting benefits of mutual funds is that they allow your money
to grow exponentially over time.
It’s like planting a tree and watching it grow into a magnificent forest. The earlier you start investing, the longer
your money has to grow, creating wealth for your future.
In essence, the benefits of mutual funds in India are multi-faced. They offer a straightforward way to invest in a
mix of assets and enjoy the advantages they bring to your overall financial experience in the stock market.
Mutual funds, a popular investment vehicle in India, bring many investors together to create a diversified
portfolio of stocks, commodities, bonds, and other securities. Here’s how it works:
 Investors purchase shares in a mutual fund, representing a portion of the fund’s holdings.
 Professional money managers handle the fund, making investment decisions on behalf of shareholders.
 The fund’s assets are invested in a diverse range of securities, aligning with its objective and strategy.
 The fund’s value is determined by the net asset value (NAV) calculated from its total assets divided by
the shares outstanding.
 Investing in mutual funds can be open-ended or closed-ended, offering flexibility for buying and selling
shares.
 Fees like management fees and expense ratios may apply, impacting overall returns.
Beginners can enjoy the benefits of mutual funds, like diversification, professional management, and liquidity,
as they take steps toward financial growth via mutual funds investment in India. However, research is a must
task that you need to perform at every point.
1.14 Global expansion and presence of Mirae Asset Financial Group

Founder Park always has in mind to expand the business globally since the early stage, and is regarded as a
global forerunner in South Korean financial industry
1.15 Key affiliates

Mirae Asset Global Investments
Mirae Asset Global Investments is the leading asset management company in South Korea.
Subsidiaries:
 Global X ETFs
 Horizons ETFs
Mirae Asset Securities

Mirae Asset Securities offers services including brokerage service, wealth management, investment banking,
and sales & trading. It is listed on KOSPI.[21]
Mirae Asset Life Insurance

Mirae Asset Life Insurance offers life insurance, investment-linked insurance, financial consulting and
retirement planning services. It is listed on KOSPI since July 2015.[22]
Mirae Asset Venture Investment
Mirae Asset Venture Investment Co., Ltd. is a venture capital and private equity company specializing in
investment of venture businesses with potential for growth, incubation, buyouts, and cross-border investments.
It has been listed on KOSDAQ since March 2019.[23]
1.16 Top 15 mutual fund schemes.

Mirae Asset Overnight Fund Direct Growth
Fund Performance: The Mirae Asset Overnight Fund comes under the Debt category of Mirae Asset Mutual
Funds.
Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Overnight Fund is ₹5,000 and for
SIP, it is ₹1,000.
Mirae Asset Emerging Bluechip Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 22.04% &
21.19%. The Mirae Asset Emerging Bluechip Fund comes under the Equity category of Mirae Asset Mutual
Funds.
Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Emerging Bluechip Fund is ₹1
and for SIP, it is ₹1,000.
Mirae Asset Tax Saver Fund Direct Growth

20.36%. The Mirae Asset Tax Saver Fund comes under the Equity category of Mirae Asset Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Tax Saver Fund is ₹500 and for
SIP, it is ₹500.
Mirae Asset Large & Midcap Fund Direct Growth

22.09%. The Mirae Asset Large & Midcap Fund comes under the Equity category of Mirae Asset Mutual
Funds.
Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Large & Midcap Fund is ₹1 and
for SIP, it is ₹500.
Mirae Asset ELSS Tax Saver Fund Direct Growth

20.99%. The Mirae Asset ELSS Tax Saver Fund comes under the Equity category of Mirae Asset Mutual
Funds.
Minimum Investment Amount: Lump sum minimum amount for Mirae Asset ELSS Tax Saver Fund is ₹500
and for SIP, it is ₹500.
Mirae Asset Equity Allocator FoF Direct Growth

Fund Performance: The Mirae Asset Equity Allocator FoF Fund comes under the Other category of Mirae Asset
Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Equity Allocator FoF Fund is
₹5,000 and for SIP, it is ₹500.
Mirae Asset Banking and Financial Services Fund Direct Growth

Fund Performance: The Mirae Asset Banking and Financial Services Fund comes under the Equity category of
Mirae Asset Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Banking and Financial Services
Fund is ₹5,000 and for SIP, it is ₹500.
Mirae Asset Large Cap Fund Direct Growth

15.6%. The Mirae Asset Large Cap Fund comes under the Equity category of Mirae Asset Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Large Cap Fund is ₹5,000 and for
SIP, it is ₹500.
Mirae Asset Equity Savings Fund Direct Growth

12.87%. The Mirae Asset Equity Savings Fund comes under the Hybrid category of Mirae Asset Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Equity Savings Fund is ₹5,000
Mirae Asset Ultra Short Duration Fund Direct Growth
Fund Performance: The Mirae Asset Ultra Short Duration Fund comes under the Debt category of Mirae Asset
Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Ultra Short Duration Fund is
₹5,000 and for SIP, it is ₹1,000.
Mirae Asset Liquid Fund Direct Growth

5.27%. The Mirae Asset Liquid Fund comes under the Debt category of Mirae Asset Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Liquid Fund is ₹5,000 and for
SIP, it is ₹1,000.
Mirae Asset Cash Management Fund Direct Growth

Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 5.2% & 5.27%.
The Mirae Asset Cash Management Fund comes under the Debt category of Mirae Asset Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Cash Management Fund is ₹5,000
and for SIP, it is ₹1,000.
Mirae Asset Midcap Fund Direct Growth

Fund Performance: The Mirae Asset Midcap Fund comes under the Equity category of Mirae Asset Mutual
Funds.
Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Midcap Fund is ₹5,000 and for
SIP, it is ₹500.
Mirae Asset Great Consumer Fund Direct Growth

19.85%. The Mirae Asset Great Consumer Fund comes under the Equity category of Mirae Asset Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Great Consumer Fund is ₹5,000
Mirae Asset Healthcare Fund Direct Growth

26.07%. The Mirae Asset Healthcare Fund comes under the Equity category of Mirae Asset Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Mirae Asset Healthcare Fund is 5,000 and for
SIP, it is ₹500.
The investment procedure at Mirae Asset Mutual Funds is entirely online. You can invest in one or more of
their schemes at any time and place of your convenience. The online process also makes it completely
transparent, a business principle Mirae Asset strictly adheres to.
By following these simple steps, you can easily invest in Mirae Asset Mutual Funds online from the
convenience of your home. The entire process shouldn’t take any more than a few minutes. Once you are
through with all the steps, your investment is registered. It shall reflect shortly on your Groww account.\
The significance of Mirae Asset Mutual Fund in the financial market lies in its role as a key player in the
investment landscape. Mirae Asset Mutual Fund, being part of the broader Mirae Asset Financial Group,
contributes to the financial markets in several ways:
1.17 Diverse Investment Options:

 Mirae Asset Mutual Fund likely provides a range of investment options across asset classes, including equity,
debt, and hybrid funds. This diversity allows investors to tailor their portfolios to their risk preferences, financial
goals, and investment horizons.
2. Professional Management:
 The fund management team at Mirae Asset brings professional expertise to the financial market. Their
experience in research, analysis, and decision-making is crucial for optimizing returns and managing risks
within the funds.
3. Investor Access and Inclusivity:
 Mirae Asset Mutual Fund provides an accessible platform for a wide range of investors. Small and large
investors alike can participate in the financial markets through the mutual funds offered by Mirae Asset,
promoting financial inclusivity.
4. Global Investment Perspective:
 Mirae Asset's global presence contributes to a broader investment perspective. This global outlook allows the
fund to tap into opportunities across international markets, providing investors with exposure to a diverse set of
assets.
5. Contribution to Market Liquidity:
 Through the buying and selling of securities in the financial markets, Mirae Asset Mutual Fund contributes to
market liquidity. This liquidity is important for the smooth functioning of financial markets, allowing investors
to enter or exit positions efficiently.
6. Innovation and Adaptation:
 The fund's ability to adapt to market trends and investor preferences is significant. Mirae Asset Mutual Fund
may introduce innovative fund offerings or investment strategies, aligning with evolving market dynamics.
7. Investor Education:
 Mutual fund companies often contribute to investor education by providing resources, insights, and educational
materials. This helps investors make informed decisions and understand the dynamics of the financial markets.
8. Regulatory Compliance:
 Mirae Asset Mutual Fund adheres to regulatory guidelines, ensuring compliance with relevant financial
regulations. This adherence contributes to the integrity and trustworthiness of the financial system.
9. Competitive Landscape:
 As a significant player in the financial market, Mirae Asset Mutual Fund adds to the competitive landscape.
Healthy competition among fund houses can lead to improved services, better investment options, and favorable
conditions for investors.
10. Economic Impact:
 The performance of Mirae Asset Mutual Fund and its funds can have a broader economic impact. Successful
fund management may contribute positively to overall economic growth, affecting factors like capital formation
and wealth creation.
It's important to note that the significance of Mirae Asset Mutual Fund is dynamic and subject to changes in the
financial markets, regulatory environment, and global economic conditions. Investors should stay informed
about the specific offerings, performance, and any updates from Mirae Asset Mutual Fund for accurate decision-
making. Always consider consulting with financial professionals for personalized investment advice.
1.18 Step-by-step process of investing in Mirae Asset Mutual Funds online :

Step 1: Visit the Groww website and log in to your account. If you are a new user, you need to register first.
Step 2: Upload your KYC documents to act as proof of identity. Any government issued identity card such as
Voter ID, PAN, Aadhaar, Driving License, Passport, etc. shall suffice.
Step 3: Upload documents supporting your proof of address. Along with the documents mentioned above
(except PAN), you can also use your Ration card or utility bills (electric bill, water bill, house rent documents,
etc.) for the purpose.
Step 4: Choose a period you would be willing to invest for. It can be short term, mid-term or long term
investment.
Step 5: Choose a level of risk you are willing to take on your investment. The available options are low,
medium and high risks.
Step 6: From a list of available funds that match your intent, choose the Mirae Asset Mutual Fund you’d like
to invest in.
Step 7: You can either choose ‘Invest One Time’ for a substantial one-time investment or ‘Start SIP’ for SIP
investment.
It is often said that mutual fund investments can help you achieve your financial goals effectively. Mutual funds
have gained immense popularity as a preferred investment choice for numerous investors owing to the multiple
benefits of mutual funds.
While the benefits of mutual funds investments are multiple, it is crucial to know what mutual funds are, the
various types of mutual funds in India, and how mutual funds actually work.
1.19 SIP and Lumpsum
Most importantly, investing in mutual funds is very affordable. For those who cannot earmark a significant
portion of their earnings towards mutual funds, they can start investing with amounts as low as Rs500 at
predefined intervals. This is known as a Systematic Investment Plan or SIP. On the contrary, if you have a
significant chunk of money to invest, you can even make a lumpsum investment in a mutual fund. Many
investors are confused which is better between to above two investment methods. Here is an article on SIP vs
Lumpsum which will help you understand which is a better of the two.
Mutual funds aid you in realizing your life’s superior goals quite easily. In this video, we go through the
different benefits of mutual funds that investors can capitalize on to grow their corpus and meet their financial
goals.
# The information given here is neither a complete disclosure of every material fact of Income-tax Act 1961 nor
does it constitute tax or legal advice. Investors are requested to review the prospectus carefully and obtain
expert professional advice with regard to specific legal, tax and financial implications of the
investment/participation in the scheme
Mirae Asset Investment Managers (India), and one of its flagship fund, Mirae Asset Large Cap Fund, have
completed 15 years. Mirae Asset Investment Managers has emerged as one of the fastest growing fund houses
in India, and has earned a place among the Top 10 Fund houses in the country in terms of AUM, signifying its
strong foothold in the mutual fund Industry.
The AMC is managing AUM (Assets Under Management) of Rs. 1,16,311 crores, across 5.69 million folios as
on March 31,2023
The most important reason for the popularity of mutual funds in India is that Investing in mutual funds brings
numerous benefits, making it an attractive choice for investors.
Mutual fund benefits include diversification across various securities like stocks, equities, and bonds, expert
money management by professionals, cost advantages due to pooling resources, clear transparency in
operations, and much more.
1.20 Awards and Recognitions of Mirae Asset Mutual Funds
 Best Fund Over 3 Years award for the Mirae Asset India Sector Leader Equity A USD fund at the
Refinitiv Lipper Fund Awards.
 ‘Gold Award’ under the category CSR COVID Protection Project by IHW Council in its
6th CSR Health Impact Award 2022.
1.21 Professional Management: Unleash the Power of Expertise

When you invest in mutual funds, you get access to experienced fund managers who act like skilled captains
guiding your mutual fund investment journey. These experts closely analyse market trends, handpick the best-
performing stocks and bonds, and adjust your portfolio to ensure maximum returns and experience the benefits
of mutual funds in the best way possible. It’s like having a captain steering your ship, helping you work on your
chosen best mutual funds. Professional management is the most important benefit of mutual funds in India.
Diversification: Embrace Steady Growth through Variety
Imagine you have a basket of fruits, each with its unique flavour and taste. In mutual funds, your money is
spread across various assets like stocks, gold, cash equivalents, bonds, and other money market instruments. If
one investment underperforms, others can balance it out, reducing the overall risk. This is another important
benefit of mutual funds, as diversification ensures that all your investments are not in one basket, safeguarding
you from sudden market swings.
Accessibility: Your Gateway to Financial Markets
Entering the stock market solo might seem overwhelming, but mutual funds in India offer an accessible
gateway. With a small investment, you become part of a diversified portfolio managed by mutual fund experts.
It’s like having a key to the financial market without needing to be a trading expert for investing in mutual
funds.
To experience the benefits of mutual funds, your mutual fund investment journey should flow smoothly, with
professionals handling the complexities for you.
Liquidity: Quick and Convenient Access to Your Funds
Unlike investing in real estate or other traditional avenues, mutual funds investment provides quick and
convenient access to your money. One of the key benefits of mutual funds is the fact that whether you need
funds for an emergency or a great opportunity, you can easily redeem your mutual fund units and receive your
money promptly.
Mutual funds investment provides quick and convenient access to your money, but the liquidity of mutual
funds may vary depending on the type of fund and the market conditions. Withdrawing the funds for liquidity
may also be subject to exit load fees.
Affordability: Grow Your Wealth without Breaking the Bank
Do you think building wealth demands massive amounts of money? Not with mutual funds! You can start
investing with even a small amount. This is another attractive benefit of mutual funds investment.
Through systematic investment plans (SIPs), you invest a little regularly, and over time, you watch your fund
grow steadily.
It’s an affordable way to participate in the financial market’s growth.
Transparency: Know What You’re Investing In
With mutual funds, transparency is a guiding principle. Fund houses provide detailed information about their
investment strategies, portfolio holdings, and past performance.
It’s like having a clear window into your mutual fund investments, empowering you to make well-thought-of
decisions as when you trade in mutual funds in India.
Rupee Cost Averaging: Tame the Market Volatility
Market ups and downs can be nerve-wracking for beginners. This serves as a crucial benefit of investing in
mutual funds. With systematic investment plans (SIPs), you benefit from rupee cost averaging.
When the markets are down, your SIP buys more units at lower prices, and when they rise, you buy fewer units
at higher prices. Over time, this balances the impact of market fluctuations, helping you achieve a favourable
average purchase price.
Flexibility: Tailor Your Investment Journey
Mutual funds cater to various investment goals. Whether you’re aiming for short-term gains, long-term growth,
or specific financial objectives like retirement or education, there’s a mutual fund in India suited to your needs.
Choose funds after analysing each category and analysing the benefits of mutual funds aligned with your risk
tolerance and objectives, giving you a personalised investment journey.
Types of Mutual Funds: Ways to Investing in India
Mutual funds in India come in various types, catering to different investment goals and risk appetites, with each
offering unique benefits of mutual funds, allowing investors to capitalise on the advantages they provide. Let’s
explore them:
1.22 Loan Against Mutual Funds
Loan Against Mutual Funds (LAMF) is a financial solution that allows you to create an overdraft facility against
your mutual fund units. With Mirae Asset Financial Services, you can easily lien mark your funds digitally and
raise the funds you need.
The loan is available as an overdraft facility, allowing you to access the funds you need and repay them at any
time without additional charges Interest is charged only on the utilized amount and for the duration, the funds
are utilized.
You can choose from a variety of approved mutual funds from various asset management companies (AMCs) in
India and use them as collateral. To lien mark, you can use mutual funds registered with CAMS and KFintech
(previously known as KARVY), Registrars & Transfer Agents (RTAs) as collateral. We suggest using a secured
loan against mutual funds as a suitable option for short or medium-term financial needs.
Mutual funds in India come in various types, catering to different investment goals and risk appetites, with each
offering unique benefits of mutual funds, allowing investors to capitalise on the advantages they provide. Let’s
explore them:
Equity Funds
These funds invest primarily in Indian company stocks. They offer the potential for higher returns over the long
term but may be subject to market fluctuations. Mutual fund investment made in these is perfect for growth-
oriented investors seeking to ride the stock market’s ups and downs.
Debt Funds
Ideal for conservative investors, debt funds invest in fixed-income securities like government and corporate
bonds. They provide stable returns and lower risk compared to equity funds, making them suitable mutual fund
investment choices for steady income seekers.
Balanced Funds
As the name suggests, these funds strike a balance by investing in both stocks and bonds. These mutual funds in
India offer moderate risk and return potential, making them a balanced choice for investors seeking a mix of
growth and stability.
Index Funds
These types of mutual funds in India replicate the performance of a specific stock market index, like NIFTY 50
or SENSEX. They offer broad market exposure and generally have lower expense ratios, making them cost-
effective choices for mutual fund investment in India.
Tax-Saving Funds (ELSS)
Equity Linked Savings Schemes (ELSS) come with a dual benefit. They offer tax deductions under Section 80C
of the Income Tax Act and the potential for capital appreciation. Ideal for investors looking to save on taxes
while aiming for long-term growth.
Sector-Specific Funds
These mutual funds in India focus on specific industries or sectors, like technology or healthcare. They offer
opportunities to invest in sectors with potential for growth.
However, sector-specific mutual funds also carry higher risk as they are dependent on the performance of a
single sector, which may be affected by various factors such as market cycles, government policies,
competition, innovation, etc.
Money Market Funds

A safer choice for short-term investments, money market funds invest in highly liquid, low-risk securities like
treasury bills. These mutual fund investments provide stable returns and easy access to funds, suitable for those
seeking liquidity and capital preservation.
Each type has its unique advantages, and choosing the right one can be a stepping stone to a successful
investment journey.
Investing in mutual funds is a smart way to grow your wealth in the stock market, and getting started is easier
than you might think. Here’s a beginner-friendly step-by-step guide:
 Set Your Financial Goals: Determine your investment objectives, whether it’s saving for a dream
vacation, retirement, or buying a house.
 Understand Risk and Return: Assess your risk tolerance to choose mutual funds that align with your
comfort level. Remember, when investing in mutual funds, higher returns often come with higher risk.
 Research Mutual Funds: Explore different types of mutual funds in India and also thoroughly check the
benefits of investing in mutual funds for all types, like equity, debt, or balanced funds. Look for past
performance, expense ratios, and fund managers’ track records.
 Choose the Right Mutual Fund(s): Select mutual funds that rightly match your goals and risk tolerance.
Portfolio Diversification is the ultimate key, so consider investing in a mix of funds.
 Complete KYC Process: Get your KYC (Know Your Customer) documents in order to comply with the
regulatory requirements involved in mutual fund investments.
 Pick an Investment Method: Merely looking at the benefits of mutual funds is not the only way to
choose your mutual fund in India. It is a must that you decide whether to invest through lump-sum
payments or SIPs (Systematic Investment Plans) for regular mutual fund investments.
 Register with a Fund House: Open an account with a mutual fund company to start investing. You can
also open a free DEMAT account with an online broker and start investing in mutual funds.
 Monitor and Review: Monitor your funds’ performance and review your portfolio regularly. Make
adjustments as needed to stay on track with your goals.\
1.23 The benefits of Mutual funds are multiple, making them an attractive investment choice for
achieving financial goals effectively.
1. Mutual funds work like financial clubs, where people pool money to invest in diverse assets
professionally managed by experts.
2. The benefits of investing in mutual funds include diversification, professional management,
accessibility, liquidity, affordability, and tax advantages.
3. Professional management allows experienced fund managers to guide your investment journey,
analysing trends and maximising returns.
4. Diversification spreads investments across various assets, reducing overall risk and providing steady
growth.
5. Mutual funds in India offer an accessible gateway to the financial market, making investing easier for
beginners.
6. Quick liquidity is one of the pivot benefits of mutual funds that allows easy access, unlike traditional
avenues like real estate.
7. Another benefit of mutual funds is their affordability, as it enables you to start investing in mutual funds
with small amounts through SIPs, witnessing steady growth over time.
8. Tax benefits in mutual funds can save money while your investments grow, with options like ELSS for
tax deductions.
9. Mutual funds cater to various investment goals, offering a personalised investment journey based on
risk tolerance and objectives.
10. Compounding in mutual funds lets your money grow exponentially over time, creating long-term wealth.
11. Types of mutual funds in India include equity, debt, balanced, index, tax-saving, sector-specific, and
money market funds, each catering to different risk preferences and goals.
12. Starting to invest in mutual funds is easy by setting financial goals, researching funds, choosing the right
ones, completing KYC, and monitoring your portfolio regularly.
There are multiple benefits of investing in Mutual funds, such as diversification, professional management, and
liquidity, making them an attractive and effective option for long-term wealth growth in India.
Mutual funds pool money from investors to create a diversified portfolio of stocks, commodities and bonds.
Skilled fund managers handle the investments on behalf of shareholders.
Yes, there are various types of mutual funds in India, like equity, debt, balanced, index funds, and more, each
catering to different risk preferences and financial goals.
Yes, certain mutual funds like ELSS (Equity Linked Savings Schemes) provide tax benefits under Section 80C
of the Income Tax Act, helping you save while you invest.
When investing in mutual funds in India, remember these key points: Avoid chasing quick gains, set clear
investment goals, and don’t overlook expense ratios. Instead, focus on diversification and adopt a long-term
approach for better results.
Begin by setting financial goals, researching funds, completing KYC, comparing the best mutual funds in India,
and investing through SIPs or lump-sum payments through an online trading platform.
Chapter 2: RESEARCH AND METHODOLOGY
Mutual Fund star rating methodology is a measure of its performance with respect to the returns, risk, and
the fund's capacity to generate returns at a particular level of risk. This rating system primarily focuses on
comparing the performance of the fund within its category.2 Feb 2023
2.1 Investing in Mirae Mutual Funds
Scripbox has made mutual funds investment extremely easy. To invest in mutual funds with Scripbox, you can
follow the following steps.
1. Visit Scripbox and Begin the Investment Journey: On the homepage of the Scripbox website, click on
the “Let’s get started” button. It will display a list of investment options based on life goals. For
investing in mutual funds, choose any of the options close to one’s financial goals. Further, click on the
“Continue” button to proceed with the mutual fund scheme investment.
2. Signup and Create an Account: Upon logging in, the investment details will be displayed. Here,
Scripbox allows to choose the payment option. You can select “Every month SIP” or “One-time”
payment options for SIP investment and lumpsum investment respectively. Moreover, to determine the
potential returns, you can use the online Scripbox SIP calculator. Thus, the SIP calculator is available for
free. Furthermore, click on the “See Recommended Funds” button to advance for investment.
3. Check the Plan and Fund Allocation: Here the Scripbox web page will display a list of mutual funds
and investment amounts allocated to each fund. Also, check all the details before further proceeding
ahead. Further, you can change the investment amount and the fund by clicking the “I want to change
Funds/ Amount” button. Finally, click on “Next” for payment and verification.
4. Bank Details and Money Transfer: The last step requires the bank account and PAN details of the
investor. Also, Scripbox provides a secure environment. Moreover, all the details provided are kept
secure. However, the bank account will only be used for investing and crediting the redemption proceeds
only.
2.2 KYC Required to Invest in Mirae Mutual Fund
KYC stands for “Know Your Customer” A client can be easily identified with KYC. SEBI has prescribed
requirements for KYC. To invest in a SEBI registered mutual fund, you need to be KYC compliant. Thus, a
KYC form will include investor information like identity, address, financial status, occupation, and
demographic information.
Scripbox does KYC for the investors who don’t have one. The following are the KYC documents required by
Resident Indians and PIO residing in India:
 Pan Card
 Address proof (Aadhar Card (Both Front & Back)/Driving License/Passport/Voter ID Card)
 Photograph
 Video Selfie: Record a video by facing the camera for 5 seconds.
 KYC Authorisation Letter. (Please write on a while plain sheet of paper that “I authorize Scripbox to do
my mutual fund KYC” & sign below it)
You can upload clear colour scanned copies of your KYC documents during the registration itself
Mirae Asset offers more than 25+ funds in all mutual fund categories It is not necessary that all the funds may
perform well. Hence investors have to align their investment objectives with the fund’s investment objective to
pick up the best Mirae Asset mutual fund that suits them.
You can invest in Mirae Asset Mutual Fund online directly through Scripbox. Furthermore, you can invest in
Mirae Asset Mutual Fund through the fund houses’ website. Moreover, you can also invest in Mirae Asset
Mutual Fund through any other online platform or mobile application.
You can stop your SIP in Mirae Asset Mutual Fund online by directly visiting the Mirae Asset Mutual Fund
website, logging in with the folio number, and stopping the SIP. Alternatively, you can also log in to the
platform where you started the Mirae Asset Mutual Fund investment and stop the SIP.
To withdraw money from Mirae Asset Mutual Fund, you can visit the nearest Mirae Mutual Fund office and
submit a form. Furthermore, you can visit the Mirae Mutual Fund website and redeem the investment by
logging in with your folio number. You can also withdraw your Mirae Asset Mutual Fund investments from any
online portal where you first invested.
5.28%. The Mirae Asset Liquid Fund comes under the Debt category of Mirae Asset Mutual Funds. Minimum
Investment Amount: Lump sum minimum amount for Mirae Asset Liquid Fund is ₹5,000 and for SIP, it is
₹1,000.
2.3 Advanced Portfolio Management
When you buy a mutual fund, you pay a management fee as part of your expense ratio, which is used to hire a
professional portfolio manager who buys and sells stocks, bonds, etc. This is a relatively small price to pay for
getting professional help in the management of an investment portfolio.1
2.4 Dividend Reinvestment
As dividends and other interest income sources are declared for the fund, they can be used to purchase
additional shares in the mutual fund, therefore helping your investment grow.
2.5 Risk Reduction (Safety)
Reduced portfolio risk is achieved through the use of diversification, as most mutual funds will invest in
anywhere from 50 to 200 different securities—depending on the focus. Numerous stock index mutual funds
own 1,000 or more individual stock positions.
2.6 Convenience and Fair Pricing
Mutual funds are easy to buy and easy to understand. They typically have low minimum investments and they
are traded only once per day at the closing net asset value (NAV). This eliminates price fluctuation throughout
the day and various arbitrage opportunities that day traders practice
As with any type of investment, the specifics of your budget, timeline, and profit goals will dictate what the best
mutual fund options are for you.
2.7 Certain Advantages of Mutual Funds
Mutual funds have plenty of advantages, including diversification, professional management, low costs, and
convenience.
2.8 Disadvantages of Mutual Funds

Fraud Alert
Mirae Asset Global Investments (Hong Kong) Limited (“Mirae HK”) noticed the existence of fraudulent
website intended to impersonate the Mirae group and Mirae HK (collectively, “Mirae”) and implement fraud by
promoting counterfeit investment service/products. Mirae HK hereby reminds the public to stay alert on the
authenticity and reliability of information published on application or internet that claimed to be related to
Mirae in mainland China or Hong Kong.
The Mirae HK official website is https://www.am.miraeasset.com.hk/, any other websites or applications that
claimed to represent Mirae in mainland China or Hong Kong are not authorized by Mirae and the information
mentioned therein may be false and fraudulent. If you have encountered any suspicious incidents or have doubts
about the person, platforms, websites or institutions associated to Mirae in mainland China or Hong Kong,
please contact us via Mirae HK hotline (852) 2295-1500 or provide information to us via Contact Us page.
This website is intended for Hong Kong investors only. Your use of this website means you agree to our Terms
of use and Privacy policy. This document is strictly for information purposes only and does not constitute a
representation that any investment strategy is suitable or appropriate for an investor’s individual circumstances.
Further, this document should not be regarded by investors as a substitute for independent professional advice or
the exercise of their own judgement. The contents of this website is prepared and maintained by Mirae Asset
Global Investments (Hong Kong) Limited and has not been reviewed by the Securities and Futures Commission
of Hong Kong.
Investment involves risks. Investors should not only base on this website alone to make investment decisions.
Investors should refer to the Funds’ prospectus for further details, including the product features and risk
factors.
Investors should carefully consider the risks of investing in the Funds in light of their financial circumstances,
knowledge, experience and other circumstances, and should seek independent professional advice as
appropriate.
2.9 Mirae Asset Asia Pacific Research
Mirae Asset Asia Pacific Research leverages innovative tools and technologies to bring clients industry-leading
analysis and investment researches. From macroeconomic forecasts to individual stock analysis, Mirae Asset
Asia Pacific Research offers comprehensive, in-depth analysis and forward-looking insights, assisting our
investors in making informed investment decisions.
However, there are also disadvantages to being an investor in mutual funds. Here's a more detailed look at some
of those concerns.
High Expense Ratios and Sales Charges
If you're not paying attention to mutual fund expense ratios and sales charges, they can get out of hand. Be very
cautious when investing in funds with expense ratios higher than 1.50%, as they are considered to be on the
higher cost end. Be wary of 12b-1 advertising fees and sales charges in general. There are several good fund
companies out there that have no sales charges. Fees reduce overall investment returns.1
Though similar to mutual funds, exchange-traded funds (ETFs) are a different type of investment vehicle, which
are traded like stocks and generally come with lower costs and are easier to invest in.
Management Abuses
Churning, turnover, and window dressing may happen if your manager is abusing their authority. This includes
unnecessary trading, excessive replacement, and selling the losers prior to quarter-end to fix the books.
Tax Inefficiency
Like it or not, investors do not have a choice when it comes to capital gains payouts in mutual funds. Due to the
turnover, redemptions, gains, and losses in security holdings throughout the year, investors typically receive
distributions from the fund that are an uncontrollable tax event.1
Poor Trade Execution
If you place your mutual fund trade anytime before the cut-off time for same-day NAV, you'll receive the same
closing price NAV for your buy or sell on the mutual fund. For investors looking for faster execution times,
maybe because of short investment horizons, day trading, or timing the market, mutual funds provide a weak
execution strategy.2
Pros
 Advanced portfolio management
 Dividend reinvestment
 Risk reduction
 Convenience and fair pricing
Cons
 High expense ratios and sales charges
 Management abuses
 Tax inefficiencies
 Poor trade execution
Risks of Mutual Funds
No investment is risk-free and while mutual funds are generally low-risk because they invest in low-risk
securities, they are not completely risk-free. The securities held in a mutual fund may lose value either due to
market conditions or to the performance of a specific security, such as the stock of a company if the company
performs poorly. Other risks could be difficult to predict, such as risks from the management team or a change
in policy regarding dividends and fees.
Mutual Funds - Better Than Stocks
Determining what is a better investment depends solely on the specific investor, their investment objectives, and
their risk tolerance. Mutual funds allow for ease of access to a wide array of investments/companies, which
increases diversification. They also carry lower risk because of that fact as opposed to investing in just a few
stocks.
The Bottom Line
Mutual funds are a great way for investors to gain exposure to a wide variety of assets without having to
specifically purchase investment securities one by one. They also allow an investor to leave the investment
decisions up to a professional. While they can be a great and safe investment, they do not come without their
flaws and issues.
Before investing, make sure to take your time researching the right mutual fund for you, being aware of the
types of investments, risks, and costs associated with each particular fund you are considering and how they fit
into your investment objectives.
Equity:
The Rise of the ETF
Mutual funds allow you to benefit from the experience of a team of full-time, professional wealth managers,
without having to monitor the markets and study trading strategies yourself. In exchange for a percentage of the
assets under management, these funds manage client assets according to a predetermined investment strategy.
Index funds are mutual funds that track the performance of a specific benchmark index, rather than evaluating
specific investments. Because they have lower management costs, these funds tend to beat active management
strategies in the long run.
Exchange-traded funds, or ETFs, are similar to mutual funds, but they trade on the market just like a stock.
Mutual funds can only be traded once a day, after market close.
far from over. In fact, the industry is still growing. In the U.S. alone there are more than 10,000 mutual funds,
and if one accounts for all share classes of similar funds, fund holdings are measured in the trillions of dollars.
Despite the launch of separate accounts, exchange-traded funds, and other competing products, the mutual fund
industry remains healthy and fund ownership continues to grow.
Mutual funds are a sort of investment vehicle that pools money from numerous individuals and utilises that
money to invest in a varied portfolio of securities, including stocks, bonds, and other assets. Each mutual fund
owner owns shares, which reflect just a portion of the fund's holdings. Professional fund managers that
specialise in managing mutual funds choose and oversee the investments made through the funds. As a result,
investors can take advantage of the fund managers' expertise and experience without having to decide on their
own investments or do their own research on specific assets. Mutual funds are a popular choice for lots of
investors because they also provide expert management, liquidity, and convenience.
Additionally, they come in a variety of investing strategies and asset classes, are accessible, and are reasonably
simple to acquire and sell. Mutual funds do, however, have significant negatives, such as fees and expenses, and
market risk. Mutual funds come in a wide range of varieties, such as equities funds, bond funds, money market
funds, and balanced funds, among others. Each type of fund has its own investment objective and risk profile, so
it's important for investors to carefully consider their investment goals and risk tolerance when choosing a
mutual fund.
2.10 Tax Benefits of investing in Mirae Asset Mutual Funds
Long term capital gains (LTCG) tax @10% (plus surcharge, if applicable and cess) without indexation if units
held for more than 12 months#
Short term capital gains (STCG) tax @ 15% (plus surcharge, if applicable and cess) if units are held for less
than 12 months.
Investor does not pay any tax on dividends but a Dividend Distribution Tax (DDT) is deducted at source
@11.648% (10% + 12% surcharge + 4% Health & education cess) **
# Capital gain accrued up to January 31st 2018 is exempt from LTCG tax in respect of units acquired before
January 31, 2018 & redeemed on or after April 1, 2018. ** The DDT is to be paid by the mutual fund
Mirae Asset Mutual Fund
Mirae Asset Mutual Funds employs a research-driven approach to investment decisions optimizing returns
while managing risks effectively.
Mirae Asset Mutual Fund is one of the fastest growing mutual funds in the country. The fund has expert fund
managers who design the schemes considering global opportunities to grab the best one for the investors. Mirae
MF online provides excellent customer services to their clients. It is backed by the big fininacial service
provider - Mirae Fund Global, which is headquartered in Seoul. Mirae Mutual Fund house takes pride in
having the network of branches and associated all over the country. The Mirae Asset MF is aimed at fulfilling
your investment goals, and with us, you can achieve them through the online mode.
While there are various categories of Mutual Fund schemes, there are different varieties of facilities as well.
These facilites can be opted by the investor to direct their Mutual Fund investments to make regular
investments, to transfer funds from one scheme to another scheme, to withdraw a fixed amount etc. Read 5 Key
plans offered by Mutual Funds and their benefits here;
A plan that helps you invest systematically
A popular plan offered by all Mutual Fund houses, Systematic Investment Plan or SIP as referred commonly is
an efficient plan for investors to make regular & disciplined investments without needing to time the market.
SIP can help you achieve your financial goals by starting with a small sum of amount (amount as low as Rs.
500/- or Rs. 1000/-) invested periodically. It also prevents you from timing the market with its automatic market
timing mechanism of Rupee-Cost Averaging. Another notable feature of SIP is ‘Power of Compounding’ where
the periodic investments generate returns over the invested period and similarly the returns upon the previous
investment get added to the new investment.
A plan that helps transfer funds from A to B
Systematic Transfer Plan (STP) can help you stagger your investments over a period of time and maintain a
balance of risk and return. Here, funds are transferred from one fund to the other. This facility is mostly
favoured by investors who have invested lumpsum in a liquid or debt fund and want to
systematically/periodically transfer to a balanced or equity fund. Otherwise, fund managers use this feature
internally to rebalance the portfolio across debt and equities during market volatility. Investors who opt for STP
need not bother about cash availability. Alternatively, STP is also known as Systematic Switch Plan
A plan for regular income
Systematic Withdrawal Plan (SWP) is a facility that enables investors to withdraw a fixed amount from the
mutual fund scheme they’ve invested in at a monthly, quarterly or annual frequency. Withdrawals can be made
irrespective of the market value of the investments and would be subject to the availability of account balance of
the investor. If you opt for SWP, you get a tax-advantage where withdrawals under SWP will be the same as
applicable to equity and debt funds. Equity investors will have to pay short-term tax gains if the holding is less
than 12 months. To make SWP extremely efficient, it is better to start withdrawing one year after the initial
investment in case of equity/balanced funds
Transfer dividend from fund A to fund B
Dividend Transfer Plan (DTP) facility offers investors to transfer the dividend declared in a source scheme to a
target scheme. This facility offers the investors a benefit because though dividend is being transferred, the
original investment remains untouched. Hence, if one opts for DTP from a debt scheme to an equity scheme,
only the dividend amount is exposed to the vagaries of the market. This could benefit the equity investor in the
long run as the corpus would grow more with the dividend transfers. DTP limits the downside risk of capital
erosion as well as helps the in building a corpus of equity assets which possesses the potential of offering higher
returns
Appreciate the capital, systematically

While STP refers to a plan where investors invest a lumpsum amount in one scheme and regularly transfer a
fixed amount to another scheme. However, in a Capital Appreciation STP, only profits from source fund in
excess of a predefined amount are transferred to the target scheme while all other STP features remain the same
Mutual funds are a pool of investments comprising different securities such as equities, debt instruments, and
money market instruments, etc. These holdings form a mutual fund and each individual combination is also
referred to as a portfolio. It is quite challenging for most investors to manage their own money and the task of
studying and analyzing various companies simply adds on to their challenges. Mutual fund investments offer
you with a professional fund manager at a nominal fee. This designated fund manager analyzes, tracks, and
transacts various securities on your behalf. This can be a major advantage for those who cannot find the time to
do their research.
2.11 Awards and Recognitions of Mirae Asset Mutual Funds
 Best Fund Over 3 Years award for the Mirae Asset India Sector Leader Equity A USD fund at the
Refinitiv Lipper Fund Awards.
 ‘Gold Award’ under the category CSR COVID Protection Project by IHW Council in its
6th CSR Health Impact Award 2022.
Equity:
3-Year Return
Fund Name (Direct-Growth) 1-Year Return (%) AUM (Cr.)
(%)
Mirae Asset Tax Saver Fund 29.90 28.40 3173.28
Mirae Asset Emerging Bluechip Fund 32.40 31.19 2105.04
Mirae Asset Hybrid Equity Fund 26.26 25.41 3240.00
Mirae Asset Large Cap Fund 29.50 25.10 2349.00
Mirae Asset Small Cap Fund 38.60 30.47 3954.00
Debt:
3-Year
Fund Name (Direct-Growth) 1-Year Return (%) Return AUM (Cr.)
(%)
Mirae Asset Savings Fund 7.20 7.24 5102.41
Mirae Asset Overnight Fund 6.80 6.27 1484.00
Mirae Asset Cash Management Fund 6.50 6.10 495.00
Mirae Asset Short Duration Fund 5.02 5.87 847.52
Mirae Asset Banking & PSU Debt Fund 6.90 6.80 2010.00
Hybrid:
Fund Name (Direct-Growth) 1-Year Return (%) 3-Year Return (%) A

Mirae Asset Balanced Advantage Fund 33.50 43.75 7
Mirae Asset Equity Savings Fund 22.30 27.52 8
Mirae Asset Multi Asset Fund – Balanced 65 22.30 27.34 4
Mirae Asset Hybrid Equity Fund 26.26 25.41 3
Mirae Asset Multi Asset Fund – Hybrid 75 25.20 29.47 3
Index Funds:
Fund Name (Direct-Growth) 1-Year Return (%) 3-Year Return (%) AUM (Cr.)
Mirae Asset Nifty Next 50 Index Fund 32.53 22.75 4128.00
Mirae Asset Sensex Index Fund 32.45 22.63 2701.00
2.12 REASONS TO INVEST IN MIRAE ASSET Mutual Fund -
 Focus on high-conviction investing: By actively selecting a limited number of stocks based on thorough
research and analysis, Mirae Asset’s portfolios have the potential for concentrated returns.
 Active fund management: Experienced fund managers constantly monitor and adjust portfolios, making
strategic decisions to navigate market fluctuations and maximize returns.
 Technology-driven approach: Mirae Asset leverages cutting-edge technology and data analytics to gain
deeper insights into market trends and identify high-potential investment opportunities.
 Investor-centric philosophy: Mirae Asset prioritizes transparency and open communication, keeping
investors informed and involved in the investment process.
2.13 Invest in Mirae Asset Mutual Fund Online
To invest in an Mirae Asset Mutual Fund from the comfort of your home, just follow these quick and easy steps:
1. Log in to your Fincover account.

2. Complete the KYC verification process by Uploading valid documentation and identity proofs as per
requirements.
3. Click on Mutual Funds under investments, enter a few details
4. Select the best Mirae Asset Mutual Fund scheme as per your investment horizon and risk appetite.
5. If you’re making a lump sum investment, click on the ‘Buy Now’ option.
6. If you are starting an SIP (Systematic Investment Plan), select ‘Start SIP’.
5.28%. The Mirae Asset Liquid Fund comes under the Debt category of Mirae Asset Mutual Funds. Minimum
Investment Amount: Lump sum minimum amount for Mirae Asset Liquid Fund is ₹5,000 and for SIP, it is
₹1,000.
The Bottom Line
Mutual funds are a great way for investors to gain exposure to a wide variety of assets without having to
specifically purchase investment securities one by one. They also allow an investor to leave the investment
decisions up to a professional. While they can be a great and safe investment, they do not come without their
flaws and issues.
Before investing, make sure to take your time researching the right mutual fund for you, being aware of the
types of investments, risks, and costs associated with each particular fund you are considering and how they fit
into your investment objectives.
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The mutual fund research focus has switched from whether average active fund managers have fund
management skill to whether a subset of active fund managers have skills that produce investor benefits. In this
dissertation we participate into the study stream by investigating the relation between managerial skills
possessed by mutual fund managers and fund performance. Essay 1 focuses on whether investor sentiment
affects the performance of skilled mutual fund managers. Stocks during periods of high investor sentiment are
more likely to have noise, while during low investor sentiment periods stocks are more likely to trade close to
their fundamental values. This implies that skilled fund managers are more likely to benefit fund investors the
most during periods of high sentiment when asset prices are noisier and information is costlier. We empirically
examine and confirm this intuition. Our results persist after distinguishing between management “skill” and
“luck”.
Essay 2 addresses the question that whether skilled fund managers’ value added stock picking ability is
associated with investing in firms run by skilled CEOs. We find that the performance of high managerial ability
stocks has a strong explanation power on the performance of mutual funds with skilled managers. Our results
suggest that fund managers’ ability to find and invest in firms with skilled CEOs is an essential element of their
stock picking ability, and it can enhance the fund future performance significantly.
2.14 GROWTH AND DEVELOPMENT OF MUTUAL FUND INDUSTRY : THE CASE OF INDIAN
MARKET
Abstract Mutual funds are major provider to the globalization of financial markets and one of the main sources
of capital flows to emerging economies. Despite their importance in emerging markets, little is known about
their investment allocation and strategies. The Indian capital market has been increasing tremendously during
last few years. With the reforms of economy, reforms of industrial policy, reforms of public sector and reforms
of financial sector, the economy has been opened up and many developments have been taking place in the
Indian money market and capital market. In order to help the small investors, mutual fund industry has come to
occupy an important place. The main objective of this paper is to examine the importance and growth of mutual
funds and suggest some measures to make it a successful scheme in India.
Finally, we find that fund managers’ selectivity ability is more profitable if the country’s mutual fund industry is
young. Since the older the mutual fund industry is, the more competitive it is, it is harder for fund managers to
achieve superior performance by competing with each other. In addition, the mutual fund industry proportion of
the equity market shows no evidence of affecting the relationship between fund selectivity and fund
performance. Briefly, the results provide strong evidence that country-level characteristics work as mediators
between fund selectivity and fund performance and that better economic development and legal protection, a
less developed mutual fund industry, a smaller equity market, and greater equity market liquidity
This study investigates the predictive power of fund selectivity on fund performance (i.e.,fund alpha) within the
European mutual fund industry using a unique sample of actively managed domestic equity mutual funds from
11 European countries. Our study reveals empirical evidence that, as in the US mutual fund industry, selectivity
is a valid skill measure in the European mutual fund industry and mutual fund managers with higher levels of
selectivity ability can generate superior performance for their clients. Even though mutual fund performance can
be influenced by financial market conditions, such as market sentiment and market dispersion, the positive
relationship between fund selectivity and fund performance still holds after controlling for those effects. We
also find that country-level characteristics serve as mediating variables between fund selectivity and fund
performance. Fund selectivity is more valuable and profitable if the fund is from a country with better economic
development, stronger legal protection, a less developed mutual fund industry, a smaller equity market, and
greater equity market liquidity. Finally, we find that fund managers’ selectivity ability is more profitable if the
country’s mutual fund industry is young. Since the older the mutual fund industry is, the more competitive
it is, it is harder for fund managers to achieve superior performance by competing with each other. In addition,
the mutual fund industry proportion of the equity market shows no evidence of affecting the relationship
between fund selectivity and fund performance. Briefly, the results provide strong evidence that country-level
characteristics work as mediators between fund selectivity and fund performance and that better economic
development and legal protection, a less developed mutual fund industry, a smaller equity market, and greater
equity market liquidity will make fund managers’ selectivity ability more profitable. This study investigates the
predictive power of fund selectivity on fund performance (i.e., fund alpha) within the European mutual fund
industry using a unique sample of actively managed domestic equity mutual funds from 11 European countries.
Our study reveals empirical evidence that, as in the US mutual fund industry, selectivity is a valid skill measure
in the European mutual fund industry and mutual fund managers with higher levels of selectivity ability can
generate superior performance for their clients. Even though mutual fund performance can be influenced by
financial market conditions, such as market sentiment and market dispersion, the positive relationship between
fund selectivity and fund performance still holds after controlling for those effects. We also find that country-
level characteristics serve as mediating variables between fund selectivity and fund performance. Fund electivity
is more valuable and profitable if the fund is from a country with better economic development, stronger legal
protection, a less developed mutual fund industry, a smaller equity market, and greater equity market liquidity.
This dissertation participates into the study stream of mutual fund industry by investigating the relation between
managerial skills possessed by mutual fund managers and fund performance, and it contributes to the literature
by investigating the validity and efficiency of fund manager’s skills under different market states, finding the
essential elements of fund manager’s stock picking skills, and exploring the research of mutual fund managerial
skills to other countries. Given the important role of mutual fund industry to the financial markets, the findings
of this dissertation show values for further academic research and industry implications.
Mirae Asset Mutual Fund on January 10, 2023, launched the Mirae Asset Multi Asset Allocation Fund, a hybrid
investment vehicle diversifying across Equities, Debt instruments, Gold ETFs and Silver ETFs. The New Fund
Offer (NFO) is scheduled to run from January 10, 2024, to January 24, 2024.
Investors can invest a minimum investment of Rs 5000 and in multiples of Re 1 thereafter for lump sum
investments. For SIPs, it is Rs 500. If Investors redeem investments within 1 year from the date of allotment,
they face an exit load of 1 per cent. If redeemed after 1 year from the date of allotment, the exit load is nil.
Multi-Asset Allocation Fund

Multi-Asset Allocation Funds are strategically crafted to allocate investments across diverse asset classes.
According to the guidelines set by the Securities and Exchange Board of India (SEBI), these funds fall under the
hybrid category, mandating a minimum allocation of 10 per cent to three distinct categories such as equity, debt,
gold or commodities, or REITs/InvITs units.
These funds provide the flexibility to adapt to market conditions, enabling capitalization on the market uptrends
by investing in profitable asset classes during a bull run or prioritizing stability during market downturns
through less volatile options.
Investments in Fund
 An open-ended equity scheme investing in a maximum of 30 stocks intending to focuson large cap, mid
cap and small cap category.
 Investment Framework*
 Focused approach limited to maximum of 30 stocks.
 Flexibility to invest across market capitalization.
 To generate long term capital appreciation/income.
2.15 Portfolio Strategy
Mirae Asset Mutual Fund outlines its goal of maintaining a diversified portfolio, allocating 65 per cent to
equities, 10 per cent to fixed-income assets, and 10 per cent to domestic gold and silver ETFs. Multi-asset
allocation funds’ portfolio will undergo systematic rebalancing to maintain the targeted allocation.
According to AMFI data, the average return for the top ten funds in this category stands at 22.01 per cent over
the past year and 16.53 per cent over the past three years.
A Few Generic Advantages Of Focused Fund
➢ Focused approach on investments limited to maximum of 30 stocks.
➢ Concentrated portfolio built on high conviction ideas by the fund management.
➢ Flexibility to invest across market capitalization. (Large, Mid and Small Cap)*.
➢ Aims to build a portfolio of strong growth companies, reflecting most attractive investment ideas.
Interest risk in mutual fund investment manifests in the form of varying interest value and haunts investors
throughout the investment horizon. It is mostly rooted in the uncertainties pertaining to the capital an investor is
likely to avail at the end of the investment horizon.
As with any investment in securities, the Net Asset Value (NAV) of the units issued under the Schemes can go
up or down depending on the factors and forces affecting the capital markets. Investments in mutual funds are
prone to risks of fluctuation in NAVs, uncertainty of dividend distributions etc.
Not many investors know whether they have invested in the right funds and if their fund portfolio is on track.
The Portfolio Doctor assesses the health of the fund portfolio, examines the schemes and their suitability with
regard to the goals and, if required, recommends corrective measures. The advice given is based on the
performance of the funds, the risk profile of the investor as well as his financial goals.
PORTFOLIO CHECK-UP
 Started investing in mutual funds about 10 years ago.
 Portfolio has mix of small-, mid- and large-cap funds.
 Early start and consistent investing have helped build massive corpus.
 Except for a few laggards, most equity funds have done well.
 But portfolio is cluttered with too many overlapping schemes.
 Child’s education goal is very near. Invest in debt options to safeguard goal.
Chapter 3: LITERATURE: REVIEW
Mutual funds didn't really capture the attention of American investors until the 1980s and 1990s, when investors
in them hit record highs and realized incredible returns. They are now mainstream investments and form the
core of individual retirement accounts. However, the idea of pooling assets for investment purposes has been
around for centuries.
Here we look at the evolution of this investment vehicle, from its beginnings in the Netherlands in the 19th
century to its status as a global industry, with fund holdings accounting for trillions of dollars in the U.S. alone.
Key Takeaways
 The first modern mutual fund was launched in the U.S. in 1924.
 The oldest mutual fund still in existence is MFS’ Massachusetts Investors Trust (MITTX), also
established in 1924.
 The exchange-traded fund, a modern variation, has taken the market by storm since the Great Recession
of 2007–2009.
3.1 The First Mutual Funds
Historians are uncertain of the origins of investment funds, although many look to the Dutch as the early
innovators who created the first closed-end investment companies.
Subhamoy Das, in his economics textbook "Perspectives on Financial Services," traces an early appearance of
the mutual fund to Dutch merchant Adriaan van Ketwich, who created an investment trust in 1774. "Van
Ketwich probably believed that diversification would appeal to investors with minimal capital. The name of van
Ketwich's fund, Eendragt Maakt Magt, translates into 'unity creates strength,'" the book explains.1
Other examples followed, including an investment trust launched in Switzerland in 1849 and similar vehicles
formed in Scotland in the 1880s.
U.S. Innovations
The idea of pooling resources and spreading risk using closed-end investments found its way to the U.S. by the
1890s. The Boston Personal Property Trust, formed in 1893, was the first closed-end fund in the U.S. The
creation of the Alexander Fund in Philadelphia in 1907 was an important step toward what we know as the
modern mutual fund. The Alexander Fund featured semiannual issues and allowed investors to make
withdrawals on demand.
The Arrival of the Modern Fund
The year 1929 saw the launch of the Wellington Fund, which was the first balanced fund, including both stocks
and bonds. The Vanguard Wellington Fund (VWELX) is still in existence today and claims to be America's
oldest balanced fund.
Regulation and Expansion
By 1929, there were 19 open-ended mutual funds competing with nearly 700 closed-end funds. With the stock
market crash of 1929, the dynamic began to change as highly leveraged closed-end funds were wiped out and
small open-end funds survived.
The mutual fund industry continued to expand. At the beginning of the 1950s, the number of open-end funds
topped 100. In 1954, the financial markets finally overcame their pre-1929 crash peak, and the mutual fund
industry began to grow in earnest, adding some 50 new funds over the course of the decade.
Hundreds of new funds were launched throughout the 1960s although the bear market of 1969 cooled the public
appetite for mutual funds for some time. Money flowed out of mutual funds as quickly as investors could
redeem their shares, but the industry's growth later resumed.
With this broad objective India's first mutual fund was establishment in 1963, namely, Unit Trust of India
(UTI), at the initiative of the Government of India and Reserve Bank of India 'with a view to encouraging
saving and investment and participation in the income, profits and gains accruing to the Corporation
Mutual funds have a long history, dating back to 1963. It happened when the Unit Trust of India (UTI), the
nation's first mutual fund, was introduced by the Indian government. It was a collaborative initiative by the
Government of India and the Reserve Bank of India. UTI was founded to encourage modest investors to
participate in the stock market, which was previously thought to be solely the domain of wealthy individuals
and institutions. It was established in order to promote saving, investing, and participation in the revenue,
profits, and gains generated by the Corporation through the purchase, holding, management, and sale of
securities.
The Mutual Fund Industry has expanded considerably over the past few years. In those days, UTI dominated the
market in the nation, but in recent years, the Mutual Fund Industry has experienced substantial growth. The
development of mutual funds in India can be roughly divided into the following five phases:
In India, the first mutual fund company, UTI, was established in 1963 by a parliamentary act, and it operated
under the administrative and regulatory oversight of the Reserve Bank of India. (RBI). UTI was cut off from the
RBI in 1978, and the Industrial Development Bank of India (IDBI) replaced the RBI as the body in charge of
regulation and administration. UTI had Rs. 6,700 crores in assets under management by the end of 1988.
(AUM).
3.2 Growing Mutual Fund Industry Statistics
 On May 31, 2014, the industry's AUM reached a major milestone of $10 trillion (Rs. 10 lakh crores) for
the first time. In a matter of around three years, the AUM size had expanded more than twofold and had
crossed $20 trillion (Rs. 20 lakh crores) for the first time in August 2017. In November 2020, the AUM
size surpassed 30 trillion (Rs. 30 Lakh crores) for the first time.
 From 8.14 trillion on February 28, 2013, to 39.46 trillion on February 28, 2023, the total size of the
Indian Mutual Fund Industry increased by about 5 fold during the course of ten years.
 The AUM for the Mutual Fund Industry increased over twofold in just 5 years, from 22.20 trillion on
February 28, 2018, to 39.46 trillion on February 28, 2023.
 In just 5 years, there has been a more than 2-fold rise in the number of investor folios, from 6.99 crores
on February 28, 2018, to 14.42 crore on February 28, 2023.
 In the past five years, starting in February 2018, an average of 12.39 lakh new folios have been added
each month.
 The number of SIP accounts surpassed the 1 crore milestone in April 2016, and as of February 28, 2023,
there are 6.28 crore SIP accounts overall.
The regulatory actions made by SEBI to re-energize the Mutual Fund business in September 2012 and the
support from mutual fund distributors in growing the retail base have had a dual effect that has allowed the
business to increase in size. Systematic Investment Plans (SIP) have become increasingly popular over the years
owing in large part to Mutual Fund distributors.
3.3 Future of the Mutual Fund Industry

If Indians start allocating a larger portion of their savings to mutual funds, this sector may expand much more.
Additionally, it is observed that many Indians have begun converting a portion of their wealth from tangible
assets (such as gold and land) to financial instruments like stocks, bonds, ETFs, etc. To reach investors outside
of the major cities, SEBI has developed several initiatives. The mutual fund sector has a promising future due to
rising income, population urbanization, digitalization, and improved connectivity. Furthermore, with additional
support from the Association of Mutual Funds India (AMFI) and the government, the Mutual Fund sector might
expand exponentially.
The Indian wing of the AMC, Mirae Asset Global Investments (India) Pvt. Ltd. was launched in the
November of 2007, becoming only their second overseas branch after Hong Kong.
Mirae Asset Mutual Funds, established in 2007, has carved a remarkable niche in India’s dynamic financial
landscape. Built on a bedrock with insightful investment solutions and a steadfast commitment to innovation,
Mirae Asset has consistently delivered value to its investors. Their dedication to research-driven analysis and a
focus on high-conviction investing has earned them the trust and recognition of millions across the country.
Their AUM is 157615 Crore and they manage more than 59+ Lakh portfolios and have their presence across 22
countries.
With an AUM of Rs 164,403 crores, Mirae Asset Mutual Fund offers 56 schemes across different categories
including 13 equity, 17 debt, and 4 hybrid mutual funds. Know the MIRAE ASSET GLOBAL MF scheme
details, historical returns, compare and invest in Best Mirae Asset Mutual Funds. Invest in mutual fund schemes
that suit your investment objectives, risk level, and fund options.
Mirae Asset Mutual fund has a global presence across the world. It was launched in India in the year 2007. They
believe in following its core values like clients success is first, teamwork, aligning decisions with objectives and
citizenship. Also, it has the top-performing funds across the AMC’s.
Vision
To be the preferred choice for investors worldwide, providing unmatched investment opportunities and
personalized financial solutions
Mission
Providing a diverse range of investment options to cater to Individuals with varied risk appetites and financial
goals
Chapter 4: Data Analysis
4.1 QUESTIONNAIRE
1) Age :
a. 18-25
b. 26-35
c. 36-45
d. 46-55
e. 56 and above
Age Respondents
18-25 58
26-35 1
36-45 5
46-55 4
56 and above 4
Interpretation:
Age
Out of 72 respondents
58 belong to the age group 18-25 years
1 belongs to the age group 26-35 years
5 respondents belong to the age group 36-45 years
4 respondents belong to the age group 46-55 years
4 respondents belong to the age group 56 & above years
Gender Respondents
Male 54
Female 18
Interpretation:
Gender
Out of 72 respondents :
54 are Male
18 are Female
Occupation Respondents
Students 56
Employee 7
Service 5
Other 3
Business 1
Interpretation:
Occupation
56 are Students
7 are Employees
5 are doing Service
3 are in Others category
1 is having Business
Level of Investment Experience Respondents
Beginner 56
Intermediate 15
Advanced 1
Interpretation:
Level of Investment Experience
56 are Beginners
15 are Intermediate
1 is Advanced
Preferred Investment Features
Features while choosing a mutual fund Respondents

Expense Ratio 22
Historical Performance 19
Fund Manager Reputation 17
Other 11
Diversification 3
Interpretation:
Features while choosing a mutual fund
22 respondents consider Expense Ratio
19 respondents consider Historical Performance
17 respondents consider Fund Manager Reputation
11 respondents consider Other factors
3 respondents consider Diversification
Investment Behaviour
Period of Investment in mutual fund Respondents
Less than 1 year 46
1-3 years 14
4-6 years 9
7 years or more 3
Interpretation:
Period of Investment in mutual fund :
46 respondents have invested in less than 1 year
14 respondents have invested between 1-3 years
9 respondents have invested between 4-6 years
3 respondents have invested for more than 7 years
Primary Investment Goal Respondents
Income 34
Capital appreciation 23
Retirement Planning 8
Other 7
Interpretation:
Following is the Primary Investment Goal of 72 respondents :
Income – 34 respondents
Capital appreciation – 23 respondents
Retirement planning – 8 respondents
Other – 7
Awareness and Perception
Awareness of Mutual Funds Respondents

Yes 28
No 32
Maybe 12
Interpretation:
Following is the Awareness of Mutual Funds. Out of 72 respondents :
Yes - 28 respondents
No - 32 respondents
Maybe - 12 respondents
Range of Funds offered by Mirae Respondents
Somewhat familiar 18
Not very familiar 16
Not familiar at all 12
Very familiar 15
Neutral 11
Interpretation:
Following is the Familarity about Range of Funds offered by Mirae. Out of 72 respondents :
Somewhat familiar - 18 respondents
Not very familiar - 16 respondents
Not familiar at all - 12 respondents
Very familiar - 15 respondents
Neutral - 11 respondents
Primary reasons for choosing Mirae MF Respondents
Other 21
Strong historical performance 16
Recommendation from financial advisors 15
Fund Manager reputation 12
Low expense ratio 8
Interpretation:
Following is the Primary reasons for choosing Mirae Mutual Fund. Out of 72 respondents :
Somewhat familiar - 21 respondents
Not very familiar - 16 respondents
Not familiar at all - 15 respondents
Very familiar - 12 respondents
Investment style while considering Mirae MF Respondents
Growth 21
Value 16
Balanced 15
Other 12
Sector-specific 8
Interpretation:
Following is the Investment style while considering Funds offered by Mirae.
Growth - 21 respondents
Value - 16 respondents
Value - 15 respondents
Balanced - 12 respondents
Sector specific - 8 respondents
Market updates and fund related information by Mirae MF Respondents
Neutral 31
Very effective 17
Somewhat effective 16
Not very effective 5
Not effective at all 3
Interpretation:
Following is the Market updates and fund related information by Mirae MF.
Very effective - 17 respondents
Somewhat effective - 16 respondents
Not very effective - 5 respondents
Not effective at all - 3 respondents
Investment in Mirae Mutual Funds Respondents
Yes 23
No 40
Maybe 9
Interpretation:
Following is the Investment in Mirae Mutual Funds. Out of 72 respondents :
Yes - 23 respondents
No - 40 respondents
Maybe - 9 respondents
Historical Peformance of Mirae Mutual Fund Respondents
1 13
2 11
3 32
4 6
5 10
Interpretation:
Following is the Historical Peformance of Mirae Mutual Funds. Out of 72 respondents :
1 - 13 respondents
2 - 11 respondents
3 - 32 respondents
4 - 6 respondents
5 - 10 respondents
Specific Metrics considered while evaluating Respondents
Peformance of Mutual Fund
Returns 29
Risk (volatility) 17
Expense ratio 9
Fund Manager reputation 7
Other 10
Interpretation:
Following is the Specific Metrics considered while evaluating Peformance of Mutual Fund.
Returns - 13 respondents
Risk (volatility) - 11 respondents
Expense ratio - 32 respondents
Fund Manager reputation - 6 respondents
Other - 10 respondents
Risk tolerance Respondents
1 16
2 20
3 22
4 11
5 3
Following is the Risk Tolerance. Out of 72 respondents :
1 - 16 respondents
2 - 20 respondents
3 - 22 respondents
4 - 11 respondents
5 - 3 respondents
Information about Mutual Funds Respondents
Financial news 16
Online forums 16
Friends/Family 19
Financial advisors 16
Other 5
Following is the Information about Mutual Funds. Out of 72 respondents :
Financial news - 16 respondents

Online forums - 16 respondents
Friends/Family - 19 respondents
Financial advisors - 16 respondents
Other - 5 respondents
Confidence about Mirae Mutual Fund Respondents
Very confident 13
Somewhat confident 21
Neutral 29
Not very confident 6
Not confident at all 3
Following is the Confidence about Mutual Funds. Out of 72 respondents :
Very confident - 13 respondents

Somewhat confident - 21 respondents
Not very confident - 6 respondents
Not confident at all - 3 respondents
Mirae Mutual Fund v/s Other Mutual Funds Respondents
Yes 45
No 27
Mirae Mutual Fund v/s Other Mutual Funds. Out of 72 respondents :
Yes – 45 respondents
No - 27 respondents
Chapter 5: Conclusion and Suggestions
Objective 1:
To examine the existing status of mutual fund industry
Objective 2:
To find out the impact of Equity funds in growth of Capital Market
Objective 3:
To study the impact of Debt funds in growth of Capital Market
Objective 4:
To study the factors affecting investor’s behavior on selecting Equity, Debt and Balance Funds.
Objective 5:
To analyze and compare the performance of selected Equity, Balance and Debt Mutual Funds.
Mergers and acquisitions of Mirae Asset Financial Group
Park has grown Mirae Asset Financial Group into an independent financial conglomerate in South Korea by
successfully acquiring a number of financial companies with his contrary investment philosophy and insights.
 2004.02 Acquired SK Investment Trust Company, an affiliate of SK Group

 2005.06 Acquired SK Life Insurance, an affiliate of SK Group[6][7]
 2011.11 Acquired Horizons ETFs,[8] a major ETF player in Canada
 2011.11 Acquired BetaShares, a major ETF player in Australia
 2016.12 Merge and acquisition of Daewoo Securities and Mirae Asset Securities[9][10][11][12][13]
 2016.12 Acquired KDB asset management company,[14] formerly owned by Korea Development Bank
 2017.07 Invested Vietnamese life insurance company, PRÉVOIR[15]
 2017.12 Acquired Korea-based PCA Life Insurance[16][17]
 2018.07 Acquired Global X,[18] US ETF company
During the analysis, it was found that there are eight factors which can be of utmost importance to the investors
and these are; Scheme/Fund(s) information related attributes, Fund investment strategy, Sponsors’ attributes,
Fund return and grievance handling attributes, Funds load, Fund decision influencing attributes, Fund value
added services and Fund capital appreciation attributes. Hence all the fund managers are required to advise the
investors by considering all these factors so that they can earn loyalty towards investors.
Financial system of India is based on four elements namely, Financial Market, Financial Institutions, Financial
Service and Financial Instruments. All these forms have significant role in smooth transfer and allocation of
funds. It is the right time to exploit the sector by giving effective and adequate saving opportunities to the
investors when they have small funds for investment. In this situation mutual funds might play a significant role
for small investors as well as to Indian capital market. This study analyzes the impact of mutual funds on Indian
capital market, performance of mutual funds and role of investors’ perception towards mutual funds investment.
The result shows that return from equity, balance and debt funds are highly correlated (positive) to NSE and
BSE returns. It shows that return from mutual funds and return from NSE and BSE move in same direction. The
analysis also shows that the risk associated with capital market is high and average return is less. The analysis
related to investors’ perception towards mutual funds came out with eight important factors viz;
Scheme/Fund(s) information related attributes, Fund investment strategy, Sponsors’ attributes, Fund return and
grievance handling attributes, Funds load, Fund decision influencing attributes, Fund value added services and
Fund capital appreciation attributes. So it was found that investors of mutual fund are more concerned with all
these factors and the fund managers need to take care of all these factors while investing or advising to invest
the money to the investors.
M
MIRAE Mutual fund's average 3 & 5 years absolute returns are 88.93 and 93.13 which are much higher than the
benchmark performance. This clearly shows that historically this fund has strong consistency in beating
benchmark returns, also its returns are very high.
Advertising has gotten much easier thanks to people voluntarily opting to carry and spend most of their working
hours with a black mirror, you must have seen lots of content on mutual funds. Even your favorite actor might
have suggested you invest in such funds at some point in time. No matter how you have previously come across
this financial instrument, it’s actually an awesome investment meant for the masses, and there is no doubt about
it.
Just saving prudently from your income source will not get you closer to your goals. You need to invest your
savings wisely to turn those savings into long-term wealth that can help to beat inflation and help you achieve
your long-term goals. Invest in the mutual fund of your choice. Mutual funds offer a gateway to potentially
lucrative investments, all while being tailored to your risk appetite and financial goals. Armed with the wisdom
gained from this guide, you are poised to make investment decisions that align with your aspirations and dreams
Chapter 6: BIBLIOGRAPHY
 Scheme Information Document – MIRAE ASSET FIXED MATURITY PLAN - SERIES III - 1122
DAYS
 NOTICE CUM ADDENDUM TO THE SCHEME INFORMATION DOCUMENT (SID), KEY
INFORMATION MEMORANDUM (KIM) AND STATEMENT OF ADDITIONAL INFORMATION
(SAI) OF ALL THE SCHEMES OF MIRAE ASSET MUTUAL FUND
 http://www.laramyk.com/blog/gandhi-on-customer-service/
 https://timesofindia.indiatimes.com/articles/Conceptand-Evolution-of-Mutual-Funds-in-India/
articleshowhsbc/22187765.cms
 https://www.amfiindia.com/research-information/mf-history
 https://www.sebi.gov.in/about-sebi.html#header-bottom
 https://www.morningstar.in/posts/48818/industry-adds-24143-new-distributors-1-
 year.aspx www.surveysystem.com
 https://www.amfiindia.com/Themes/Theme1/downloads/home/B30vsT30-june2018.pdf
 SEBI circular SEBI/HO/IMD/DF2/CIR/P/2018/16 dated 02.02.2018, the terms and definition of “15
cities”, “T15” and “B15” are substituted with “30 cities”, “T30” and “B30” respectively, with effect
from April 1, 2018
 https://www.investopedia.com/terms/s/sebi.asp
 https://www.sebi.gov.in/powers-and-functions.ht
 https://www.amfiindia.com/know-about-amfi
 https://www.amfiindia.com/Themes/Theme1/downloads/AMFI_Code_of_Ethics.pdf
 "Total AUM". www.am.miraeasset.com. 31 March 2023.

  Kim, Jae-won (2009-12-09). "Harvard Business School to Study Mirae Asset Group". The Korea
Times. Retrieved 2019-09-30.
  Khaire, Mukti; Chen, Michael Shih-ta; Donovan, G. A. (June 2011). "Mirae Asset: Korea's Mutual
Fund Pioneer" (Revised ed.). Harvard Business School. Case No. 810-123. {{cite journal}}: Cite journal
requires |journal= (help)
  Kim, Youngjin; Kim, Soo-Wook (2017-07-24). "Mirae Asset: A Disruptive Innovator in the Korean
Financial Industry". Graduate School of Business, Seoul National University. Reference no. SNU-17-02.
{{cite journal}}: Cite journal requires |journal= (help)
  "Mirae Asset's focus on global emerging markets - Asia Asset Management - The Journal of
Investments & Pensions". www.asiaasset.com. Retrieved 2019-03-26.
  "South Korea: Mirae Asset Buys SK Life". Asia Insurance Review. Retrieved 2019-03-26.
  "Mirae eyes bid to keep SK Life in Korean hands"

As on March 31, 2017
45 mutual funds are registered with SEBI with 2281 mutual funds schemes and out of that 1,675 are related to
income/debt oriented schemes, 484 are growth/equity oriented schemes and 30 are balanced schemes.
There are 63 ETFs and out of that 12 are gold ETFs and 51 are non-gold ETFs.
There are 29 schemes operating as Funds of Fund
In terms of the investment objective, there are 829 open-ended schemes, 1,388 close-ended schemes and 64
interval schemes available in mutual funds industry.
AUM reached to Rs.1760000 crores in as compared to Rs.25 crore in 1964.
It was found that there is high correlation between all equity funds with NIFTY and this positive high
correlation show that return from equity funds and NSE move in same direction.
Returns of all equity funds are high in relation to NIFTY return with highest return from Birla Sun Life MNC
Fund and lowest from SBI Blue Chip Fund.
Three (Franklin Small Company Fund, Franklin India High Growth Companies Funds and DSPBR Micro Cap
Fund) out of nine equity funds have high Standard. Deviation showing high risk in comparison to NIFTY.
Findings and Conclusion
Two equity funds (Birla Sun Life Top 100 and SBI Blue Chip Fund) out of nine equity funds have high impact
on NIFTY return. The other seven predictor variables are having less impact.
It was found that there is high correlation between all equity funds with SENSEX and this positive high
correlation show that return from equity funds and BSE move in same direction.
Mean return of all selected equity funds is higher than BSE return that shows the investors have better chances
to get more return if they invest in equity funds.
Standard Deviation of three equity funds (Franklin Small Company Fund,Franklin India High Growth
Companies Funds and DSPBR Micro Cap Fund) is high in comparison to BSE showing equity funds return are
more volatile than SENSEX.
Two equity funds (SBI Blue chip fund and Birla Sun Life Top 100 Fund) have more impact on SENSEX and
remaining have less impact.
Correlation between debt funds and Broad Index is high indicating that return from all debt funds and return
from Broad Index move in same direction.
Return from two debt funds (IDFC Dynamic Bond Fund and UTI Bond Fund) out of eight is higher than return
from Broad index. So investors have option to invest in both the funds.
Standard Deviation of debt fund is low in comparison to Broad Index meaning thereby investment in debt fund
is less risky and more consistent than Bond return.
HDFC income fund is more predictive and remaining predictor variables are less predictive of Broad index.
High correlation between balance fund and NSE/BSE shows that they move in the same direction.
The mean return of all eight balance funds is high in relation to mean return of NIFTY. This indicates the
balance funds are good option for the investors to invest.
All balance funds are less risky in comparison to NIFTY/SENSEX. The investors who are risk avoider may opt
balance fund as an investment option.
Out of eight two balance fund (UTI Balance Fund and Franklin India Balance Fund) are statistically significant
which gives an option to the investors to invest.
During the analysis, it was found that there are eight factors which can be of utmost importance to the investors
and these are; Scheme/Fund(s) information related attributes, Fund investment strategy, Sponsors’ attributes,
Fund return and grievance handling attributes, Funds load, Fund decision influencing attributes, Fund value
added services and Fund capital appreciation attributes. Hence all the fund managers are required to advice the
investors by considering all these factors so that they can earn loyalty towards investors.
Birla Sun Life MNC Fund ranked number one by Sharpe, Treynor and Jenson Index showing best performer
equity fund in comparison to market return.
HDFC balanced funds ranked one by Sharpe, Treynor and Jenson Index showing best performer balance fund in
comparison to market return.
UTI Bond Fund ranked one by Sharpe Index showing best performer debt fund with Broad index Return.
However, Treynor and Jenson Index ranked IDFC Dynamic Bond Fund as best performer debt fund.
Beta value of all equity balance and debt funds indicates that returns of all funds move along with movement in
NIFTY, SENSEX and Broad Index.
Financial system of India is based on four elements namely, Financial Market, Financial
Institutions, Financial Service and Financial Instruments. All these forms have significant role in smooth
transfer and allocation of funds. It is the right time to exploit the sector by giving effective and adequate saving
opportunities to the investors when they have small funds for investment. In this situation mutual funds might
play a significant role for small investors as well as to Indian capital market. This study analyzes the impact of
mutual funds on Indian capital market, performance of mutual funds and role of investors’ perception towards
mutual funds investment. The result shows that return from equity, balance and debt funds are highly correlated
(positive) to NSE and BSE returns. It shows that return from mutual funds and return from NSE and BSE move
in same direction. The analysis also shows that the risk associated with capital market is high and average return
is less.
The analysis related to investors’ perception towards mutual funds came out with eight important factors viz;
Scheme/Fund(s) information related attributes, Fund investment strategy, Sponsors’ attributes, Fund return and
grievance handling attributes, Funds load, Fund decision influencing attributes, Fund value added services and
Fund capital appreciation attributes. So it was found that investors of mutual fund are more concerned with all
these factors and the fund managers need to take care of all these factors while investing or advising to invest
the money to the investors.
Performance of mutual funds measured by Sharpe, Treynor and Jenson Index with bench mark index NIFTY
and SENSEX showing mutual funds are performing good and its Beta value indicates mutual funds return move
along with NIFTY and SENSEX. The study shows mutual fund industry is rapidly growing and contributing in
development of Indian capital market by investing in equity, debt and bonds. Risk associated in capital market
investment is high as compare to mutual funds investment
How investors earn returns from Mutual Funds. When you invest in mutual funds, you can earn in two different
ways - through dividends and capital gains. The funds that were invested in stocks provide dividends based
on their market earnings. If you choose to receive these dividends, then you earn this amount.
Stay invested for the long term: Mutual fund investments are best suited for long-term growth. Avoid the
temptation to make frequent changes to your portfolio based on short-term market fluctuations. Be patient and
give your investments time to grow.

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(Title of Book-with golden Amboise)

TITLE OF THE PROJECT

Under the Guidance of

Shri Chinai College of Commerce and Economics

TITLE OF THE PROJECT (TITLE)

University of Mumbai for partial completion of the degree of

Bachelor of Accounting & Finance

T.Y.B.A.F (SEM VI)

Under the Guidance of

Shri Chinai College of Commerce and Economics

Andheri- East, Mumbai – 400 069

Andheri- East, Mumbai – 400 069

This is to certify that Ms/Mr. _____________________________ has worked and duly

Project Guide External Examiner

BAF Co-Ordinator I/C Principal

Name and Signature of the learner

Prof. Name & Sign of Guide

I would also like to express my sincere gratitude towards my project guide

1.1 MUTUAL FUNDS DEFINITION:

in a portfolio of financial assets.

its expenses, are shared by the fund’s unit holders.

Here’s an example to illustrate the SIP point:

1.5 Role of a Fund Manager

1.6 Duties of a Fund Manager

1.7 Steps to invest in any Mutual fund

1.8 Mirae Asset Mutual Fund: Detailed Overview

1.8.3 Investment Philosophy:

1.8.4 Key Offerings:

1.8.6 Investor Services:

1.8.7 Regulatory Compliance:

1.8.8 Innovation and Trends:

1.9 Educational Resources:

1.10 Features of Mirae Mutual fund :

1.11 Importance of MIRAE Mutual Fund

b.Accessibility to Small Investors :

d.Liquidity and Flexibility :

f. Variety of Investment Options :

g. Regulatory Oversight and Investor Protection :

h. Income Generation and Dividend Distributions :

j.Market Indicator and Benchmarking :

1.12 Significance of MIRAE Mutual Fund

Based on Asset Class:

 Investor Profile: Suited for investors seeking long-term capital appreciation.

3. Money Market Funds:

shares are traded on secondary markets like stocks.

3. Exchange-Traded Funds (ETFs):

1.13 BENEFITS OF MIRAE MUTUAL FUND:

5. Higher Return on Investment (RoI)

Tax Benefits: Save More as You Invest

Transparency: Know What You’re Investing In

Rupee Cost Averaging: Tame the Market Volatility

Flexibility: Tailor Your Investment Journey

Wealth Creation: Let Your Money Grow with Time

1.14 Global expansion and presence of Mirae Asset Financial Group

1.15 Key affiliates

Mirae Asset Securities

Mirae Asset Life Insurance

1.16 Top 15 mutual fund schemes.

Mirae Asset Emerging Bluechip Fund Direct Growth

Mirae Asset Tax Saver Fund Direct Growth

Mirae Asset Large & Midcap Fund Direct Growth

Mirae Asset ELSS Tax Saver Fund Direct Growth

Mirae Asset Equity Allocator FoF Direct Growth

Mirae Asset Banking and Financial Services Fund Direct Growth