How did Mirae manage to get to Rs.100,000 crore AUM so quickly?

At a time when big global names in the mutual fund industry like Fidelity, JPM, Deutsche, Morgan Stanley and Goldman have already exited India, Templeton was the last man standing. Now even Templeton is in trouble and losing AUM in the last 18 months. A surprise foreign player dominating the mutual funds space today is Mirae. However, the Mirae story is much beyond just scaling the Rs.1 trillion mark.

Mirae did not enter 25 years ago, they just came in 2008. However, between 2016 and 2021, the AUM of Mirae Fund has jumped six-fold from Rs.16,400 core to Rs.100,000 crore. It has grown well above 50% in each of these five years. The AUM surge is not just about index appreciation but about flows. Too. It has 84% of overall AUM in equities, which is unique. Its funds are there in most top ranked equity funds. But the biggest story is here.

Mirae has a strong focus on retail SIPs. Out of 43.7 lakh folios with Mirae, nearly 15.5 lakh folios are SIP folios. In Sep-21, when Indian mutual funds received record SIP flows of Rs.10,350 crore, Mirae alone was contributed 8% of that. Above all, Mirae gives hope that it is possible to build scale with a pure equity / SIP / Retail approach. It also shows that growing AUM at record speeds is not just about having a bancassurance support or the support of a large industrial group. Consistent performance can be a magnet for invstors and that is what Mirae proves here.