Mirae Asset Mutual Fund's AUM crosses Rs 1-trillion mark

The fund house, launched in 2008, has seen its assets grow over 10 times in over 5 years

Mirae Asset Mutual Fund (MF) has become the latest fund house to join the Rs 1- trillion of assets under management (AUM) club. The asset manager, which started its operation during the global financial crisis of 2008, has seen its assets grow more than 10 times in the last five and half years.  

The fund house, known for its equity offerings, plans to strengthen its debt portfolio going ahead.

Swarup Mohanty, CEO, Mirae Asset Investment Managers (India) said, “I think it is time to strengthen the debt investment team as the bulk of the money is still on the debt side. On the equity side we had an approach of launching a product, building a track record and then having a graded asset growth. This is something we would like to unfold on the debt side too.”  

Mirae Asset MFs AUM has crossed the important threshold of Rs 1 trillion as on October 14, 2021. Currently, the fund house manages eight equity funds with AUM of Rs 84,281 crore, three hybrid funds having an AUM of Rs 7,211 crore and nine debt funds with AUM of Rs 7,146 crore. It also manages Rs 2,568 crore AUM under six exchange traded funds (ETFs) & four fund of fund schemes.

The Rs 37-trillion MF industry has a higher share of debt assets at Rs 14.2 trillion followed by equity at Rs 12.8 trillion as on September end. While equity funds help fund houses to make money, debt funds increase the asset size of the company.

Mirae Asset MF has witnessed a significant surge in the number of new clients with the investor folios crossing 4.37 million investor folios (with close to 1.54 million Systematic Investor Plan (SIP) investors). The SIP flows have also grown significantly and have grown to Rs 796 crore in September 2021.

The fund house had an AUM of just Rs 6,495 crore in 2016 which increased to Rs 42,635 crore in 2019 and Rs 64,031 crore in 2020. 

The data from Value Research shows that two of the top equity funds—Mirae Asset Large Cap and Mirae Asset Emerging Bluechip fund have an AUM of Rs 30,456 crore and Rs 21,263 crore respectively.