Mirae Asset India Opportunities Fund has outperformed its category since inception in 2008.
>> Inception: April 2008
>> Category: Equity Large and Mid Cap
>> Type: Open-ended
>> AUM: Rs 169.50 crore
>> Benchmark index: BSE 200
WHAT IT COSTS
>> NAV: Rs 15.13 (G) | Rs 12.67 (Div)
>> Minimum investment: Rs 5,000
>> Minimum SIP amount: Rs 1,000
>> Expense ratio: 2.41%
>> Exit load: 1% if redeemed within one year
WHO SHOULD INVEST IN IT?
Profile: Mirae Mutual Fund
Despite the name, Mirae Asset India Opportunities Fund is not aggressive. Fund manager Neelesh Surana maintains a core portfolio of 20-22 stocks with an average allocation of 54%, the balance being opportunistic bets.
This definetely makes it a safe bet for those who want to avoid too much risk and bank on a fund to deliver at least moderately. The fund was a top quartile performer in 2009.
A prime reason being that it was fully invested at the start of the rally in March. The fund outperformed the category average and the benchmark in 2010 and has been able to curtail its fall better than its peers.MEET THE FUND MANAGER
Fund manager Neelesh Surana rarely goes overboard with strong bets and says the fund is a flexicap with a large-cap bias. He hopes to gain from Indian economic growth by investing in equity and related securities.Data and analysis of the fund have been sourced from Value Research.