Mirae Asset Mutual Fund has marked a significant milestone of crossing Rs 2 lakh crore in assets under management (AUM), thanks to a rapid growth in the past three years.
With this, the fund house Mirae Asset Investment Managers (India) Pvt Ltd has cemented its position among the top 10 asset management companies in India (as per the latest AMFI data).
Mirae Asset Mutual Fund, which started its journey in 2008, has seen its AUM grow by 54% in the last five years. Its folios count has surpassed 68 lakh and monthly SIP book stood at Rs 865 crore (as of November 30, 2024).
“We have come a long way since starting operations in 2008, growing at a rapid pace. I dedicate this success first to our investors who have trusted us over these years, second our distributor’s who have tirelessly worked to take our products to investors and our employees and partners without their efforts we wouldn’t have reached here,” said Swarup Anand Mohanty, Vice Chairman & Chief Executive Officer, Mirae Asset Investment Managers (India) Pvt Ltd.
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“We believe India may be one of the biggest growth stories of this decade, and as an asset manager we aim to be an integral part of this growth journey by providing innovative products,” Mohanty said.
Mirae Asset’s 16-year journey is marked by resilience. Less than a year after commencing operations, the Global Financial Crisis struck, testing its mettle even as many foreign AMCs started leaving India. However, its Korean parents showed unwavering support through challenging times.
Subsequent years saw Mirae Asset launch a variety of products, including hybrid funds, ELSS, and other categories. In last few years, Mirae Asset has introduced innovative theme- and factor-based ETFs, catering to India’s burgeoning investor base of the country.
Mirae Asset Portfolio: 69 schemes – 10 schemes each under equity and debt segments
Mirae Asset currently manages 69 mutual fund schemes – 10 equity-oriented schemes across diverse market caps and themes in India with total AUM of Rs 1.47 lakh crore, 10 debt-oriented schemes with net AUM of Rs 21,995 crore, 5 hybrid schemes with net AUM of 16,725 crore, and 25 exchange traded funds (ETFs) with total AUM of Rs 12,998 crore. The fund house’s offering also includes seven index funds and 2 FoF (Fund of Fund) overseas schemes with a net AUM of Rs 1,676 crore. (Source- Internal -Data is Latest Available)
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“This milestone reflects India’s growth story and wealth creation for investors. We aim to remain constructive about equity markets as the pillars of India’s economic growth are solid. Our team’s goal is to support investors through our process-driven approach,” said Neelesh Surana, Chief Investment Officer, Mirae Asset Investment Managers (India) Pvt Ltd.
“We have built a robust foundation of our debt offerings over the years. Investors across all categories including corporates, family offices, institutions, banks, national distributors, MFD and direct are consistently strengthening their exposure across our debt funds which are now spread across most major categories, said Mahendra Kumar Jajoo, Chief Investment Officer – Fixed Income, Mirae Asset Investment Managers (India) Pvt Ltd.