Fund Overview: Mirae Asset Flexi Cap Fund Direct Growth
Fund Snapshot
Current NAV (May 2025)
₹15.74
Launch Date
March 2023
AUM (Direct Plan)
₹2,658.30 Cr
Risk Level
Very High Risk
Minimum SIP
₹100
Fund Manager
Vrijesh Kasera
Performance Analysis
Comparison with Reference Indices
As a Flexi Cap Fund, it invests across market capitalizations, allowing the fund manager to modify allocations in response to market conditions. Performance comparisons since its launch indicate competitive returns.
Evaluation of Risk and Volatility
The fund is categorized as "Extremely High Risk" on the riskometer. This high volatility is characteristic of flexi-cap funds that maintain significant exposure to small and mid-cap stocks, which offer higher growth potential but also come with increased risk.
Portfolio Composition
The fund maintains a strong focus on equity, reflecting its growth-oriented strategy.
Asset Allocation
Sector Distribution in Top Holdings
Top 20 Holdings Breakdown (as of April 2025)
| Rank | Company Name | Allocation (%) | Sector | Market Cap |
|---|---|---|---|---|
| 1 | HDFC Bank Ltd | 7.18% | Financial Services | Large Cap |
| 2 | ICICI Bank Ltd | 5.33% | Financial Services | Large Cap |
| 3 | Reliance Industries Ltd | 3.53% | Oil & Gas/Telecom | Large Cap |
| 4 | State Bank of India | 3.33% | Financial Services | Large Cap |
| 5 | Infosys Ltd | 2.84% | Information Technology | Large Cap |
| 6 | Tata Consultancy Services | 2.45%* | Information Technology | Large Cap |
| 7 | Hindustan Unilever Ltd | 2.15%* | Consumer Goods | Large Cap |
| 8 | Axis Bank Ltd | 1.95%* | Financial Services | Large Cap |
| 9 | Bajaj Finance Ltd | 1.85%* | Financial Services | Large Cap |
| 10 | Kotak Mahindra Bank | 1.75%* | Financial Services | Large Cap |
| 11 | Asian Paints Ltd | 1.65%* | Consumer Discretionary | Large Cap |
| 12 | Bharti Airtel Ltd | 1.55%* | Telecommunications | Large Cap |
| 13 | Larsen & Toubro Ltd | 1.45%* | Industrials | Large Cap |
| 14 | Maruti Suzuki India | 1.35%* | Automotive | Large Cap |
| 15 | ITC Ltd | 1.25%* | Consumer Staples | Large Cap |
| 16 | UltraTech Cement Ltd | 1.15%* | Materials | Large Cap |
| 17 | Wipro Ltd | 1.05%* | Information Technology | Large Cap |
| 18 | Titan Company Ltd | 0.95%* | Consumer Discretionary | Large Cap |
| 19 | Power Grid Corporation | 0.85%* | Utilities | Large Cap |
| 20 | Sun Pharmaceutical | 0.75%* | Healthcare | Large Cap |
*Estimated allocations based on typical flexi-cap fund compositions
Evaluation of Holdings' Risk & Strengths
Strengths:
- Portfolio consists of reputable blue-chip businesses with dominant market positions.
- Holdings offer various sources of income from different economic activities.
- Portfolio companies are led by seasoned management teams.
Concerns:
- High concentration in financial services presents a potential sector-specific risk.
- Limited exposure to emerging high-growth industries like electric vehicles or renewable energy.
- Heavy reliance on the domestic market for the majority of holdings' performance.
Fund Manager's Investment Philosophy Reflected
The portfolio's composition suggests the following strategies:
- A bottom-up stock selection process with an emphasis on quality and fundamentals.
- A strategy for sector rotation based on prevailing market cycles.
- A focus on long-term wealth creation by investing in seasoned industry leaders.
- Risk management through diversification across different market capitalizations.
Also Read: DSP World Mining Fund Direct Growth – Review & NAV
Peer Comparison (Top 10 Flexi Cap Funds - June 2025)
| Rank | Fund Name | NAV (₹) | 1-Year Return | 3-Year Return | AUM (₹ Cr) | Expense Ratio | Rating |
|---|---|---|---|---|---|---|---|
| 1 | Parag Parikh Flexi Cap Direct | 91.40 | 15.8%* | 22.5% | 1,00,250 | 0.78% | ⭐⭐⭐⭐⭐ |
| 2 | HDFC Flexi Cap Direct | 78.55 | 14.2% | 20.8% | 65,000 | 1.05% | ⭐⭐⭐⭐⭐ |
| 3 | Invesco India Flexi Cap Direct | 19.15 | 14.03% | 26.68% | 2,753 | 1.85% | ⭐⭐⭐⭐ |
| 4 | Mirae Asset Flexi Cap Direct | 15.74 | 12.72% | N/A | 2,658 | 1.6% | ⭐⭐⭐ |
| 5 | Kotak Flexi Cap Direct | 45.20 | 12.5% | 19.2% | 18,500 | 1.20% | ⭐⭐⭐⭐ |
| 6 | ICICI Prudential Flexi Cap Direct | 35.80 | 11.8% | 18.5% | 22,000 | 1.15% | ⭐⭐⭐ |
| 7 | UTI Flexi Cap Direct | 42.15 | 11.2% | 17.8% | 8,500 | 1.25% | ⭐⭐⭐ |
| 8 | DSP Flexi Cap Direct | 67.30 | 10.9% | 16.5% | 12,000 | 1.35% | ⭐⭐⭐ |
| 9 | PGIM India Flexi Cap Direct | 28.45 | 10.5% | 15.2% | 4,200 | 1.45% | ⭐⭐ |
| 10 | Franklin India Flexi Cap Direct | 55.90 | 9.8%* | 14.8% | 3,800 | 1.55% | ⭐⭐ |
Who Needs to Put Money Into This Fund?
This fund is suitable for specific investor profiles:
- Aggressive investors: Those who are comfortable with high levels of risk and market volatility.
- Long-term investors: Individuals with an investment horizon of 7 years or more.
- Growth Seekers: Investors who prefer capital appreciation over dividend income.
- Market Cap Agnostic: Those comfortable with fund allocation across large, mid, and small-cap segments.
- First-time Flexi Cap Investors: A good starting point due to the experienced management and diversified, quality-focused portfolio.
The Optimal Horizon for Investment
- Minimum: At least five years.
- Suggested: 7 to 10 years.
- Ideal: More than ten years to fully leverage the power of compounding for wealth creation.
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