InvestorQ : I read about Mirae Fund crossing AUM of Rs.100,000 crore. Why is there so much hype about it?
Chandralekha Desai made post

I read about Mirae Fund crossing AUM of Rs.100,000 crore. Why is there so much hype about it?

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Neelam Naik answered.
2 months ago
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Last week, Mirae announced that it had crossed Rs.100,000 crore in overall AUM. I will not call it hype, but there is surely something special about it. Here is why.

· Mirae is one of the few rare foreign origin funds that have seen success in the Indian mutual fund segment. It is not a typical bulge bracket Western Investment House, but Mirae has succeeded in a business where other formidable names like Fidelity, Morgan Stanley, Deutsche, JPM and Goldman Sachs saw little success.

· Mirae got to Rs.1 trillion AUM purely on the basis of past performance of its two benchmark funds. Also, this was achieved with 84% contribution from equity-oriented funds, something unheard off since debt is what is normally used to drive AUM.

· Mirae story proves that it is entirely possible to attract investors on the strength of performance as long as it is credible and consistent. So, traditional pull works and it is not just about push.

· Mirae has been extremely strong in the SIP approach to expand its AUM and accounted for 9% of all SIPs collected during the month of September 2021. That worked with small investors and regular savers.

In a way Mirae has shown that it is possible to survive and thrive in the Indian market for a mutual fund by focusing on equities, focusing on small investor SIPs and on micro level performance.

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