Mirae Asset Tax Saver Fund -Direct Plan-Growth

About Mirae Asset Tax Saver Fund

Mirae Asset Tax Saver Fund is an open-ended equity-linked saving scheme (ELSS). This tax-saving mutual fund gives an opportunity for taxpayers to save up to Rs.46,800 on taxes per year. Besides saving on income tax payments, you can also get growth and dividend payout option.

Pros and Cons of Mirae Asset Tax Saver Fund

The expense ratio of Mirae Asset Tax Saver Fund is as low as 0.64%, and it comes with nil exit load. The one-year and three-year returns are higher than that of the category average returns. However, the risk-adjusted returns are lower than the category.

Fund Information and Statistics

i) Inception/Launch date Mirae Asset Tax Saver Fund was launched on 28 December 2015.

ii) Risk level Since Mirae Asset Tax Saver Fund invests in equity stocks, they include a moderately high risk on the investment.

iii) Redemption Since Mirae Asset Tax Saver Fund comes under ELSS, a mandatory lock-in period of three years is applicable. If you happen to redeem within the completion of the lock-in period, you will lose out on the tax benefits reaped.

iv) Fund Manager Mr Neelesh Surana is working as the fund manager for Mirae Asset Tax Saver Fund since the inception of the fund.

v) Entry/Exit load As per the mandate made by SEBI, the entry load is not applicable any more. In addition, Mirae Asset Tax Saver Fund comes with nil exit load.

About Mirae Asset Mutual Fund

Mirae Asset Mutual Fund registered with SEBI on 30 November 2007. While the trustee of the Mirae Asset Mutual Fund is Mirae Asset Trustee Company Private Limited, the sponsor of the fund house is Mirae Asset Global Investments Company Limited-Seoul, Korea. The Asset Under Management (AUM) of Mirae Asset Mutual Fund is Rs.41,252 crore as on 31 May 2020.