This tax saver mutual fund managed by Neelesh Surana has tripled money in 7 years

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Mirae Asset Tax Saver Fund is an open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit. The fund invests minimum 80% of its total assets in equity and equity related securities of companies across industry sectors and market cap segments. The fund can also invest 0-20% of its total assets in money market instruments, debt securities and G-Secs etc.

Mirae Asset launched the tax saver fund on 28th December, 2015 with the fund being operational for around seven years. Both Value Research and Morningstar have a 5-star rating on this tax saver mutual fund. Neelesh Surana is the fund manager of the fund since its inception. As per the details by the fund house, the risk profile of Mirae Asset Tax Saver Fund is ‘Moderately High’.

The fund has given a 3-year return of about 22% and 5-year return of over 15%, and since its inception, the fund has generated over 18% as of August 26, 2022. It has an assets under management (AUM) or fund size of 12,600 crore. The fund’s net asset value or NAV has grown from 10 to 31 as on August 26.

A monthly SIP of 5,000 started in the Mirae Asset Tax Saver fund since it was introduced seven years ago would have now be worth about 7.22 lakh. Meanwhile, the investment, if initiated three years ago in the fund, would now be worth about 2.54 lakh as the fund generated nearly 22% over the last three years.

Systematic investment plan (SIPs) are popular and an easy way for investors with limited liquidity to invest systematically from their savings accounts into mutual funds. Equity Linked Savings Schemes (ELSS) have lock-in period of 3 years. 

The fund has an expense ratio of 0.56%. Total Expense ratio or TER represents the annual fund operating expenses of a scheme, expressed as a percentage of the fund’s daily net assets.

HDFC Bank, ICICI Bank, Reliance Industries (RIL), Infosys, Axis Bank, State Bank of India (SBI), Tata Consultancy Services (TCS), Bharti Airtel, Sun Pharma, Larsen and Toubro (L&T), SBI Cards, Gland Pharma are some of the top holdings of the fund.

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