Mirae Asset Emerging Bluechip Fund

Mirae Asset Emerging Bluechip Fund aims To generate income and capital appreciation from a diversified portfolio predominantly investing in Indian equities and equity related securities of companies which are not part of the top 100 stocks by market capitalization and have market capitalization of atleast Rs.100 Crores at the time of investment.

Mirae Asset Emerging Bluechip Fund is unusual for a mid-cap fund to use the ‘bluechip’ moniker in its label. But this fund lives up to its name by scouting for quality names alone in the mid-cap space.

Mirae Asset Emerging Bluechip Fund has outpaced both its benchmark and peers in every year since launch, though it has a limited track record, from 2011. Strong returns have helped this fund hold onto a five-star rating since it entered the rating chart in 2013. The fund has never fallen below the first quartile in the five years since launch.

Mirae Asset Emerging Bluechip Fund prefers larger mid-cap companies. It consciously avoids tiny-sized companies, those with operating profits below Rs 100 crore.

Though the Mirae Asset Emerging Bluechip Fund is quality-oriented, it is value conscious. It hunts for businesses with decent growth prospects and a good ROCE. Buying good companies at reasonable prices is the key philosophy. The portfolio allocation shows a consistent 40-60 per cent allocation to mid caps (higher than that of the category) and a 20-40 per cent to large caps.

With a 35.3 per cent CAGR over three years and 29.7 per cent over five years, the fund is ahead of its benchmark by comfortable 9-13 percentage points. It has beaten peers by 7-9 percentage points in the same period. Bull or bear phases have gone equally well for the fund during its short tenure. The one shortcoming is that due to its recent vintage it hasn’t faced a severe bear market of the 2008 magnitude. While quality stocks have faced a rough time in the last one year, the fund has managed to handle this shift well with a convincing outperformance of both its benchmark and category.

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