Mirae Asset Emerging Bluechip Fund, the flagship equity fund from fund house Mirae Asset, has put in more restrictions on fresh purchases. From December 15, 2017, new SIPs or systematic investment plans in Mirae Asset Emerging Bluechip Fund will be allowed only for the cycle date 10th of every month. The maximum limit per PAN for the SIP investment (instalment amount) is Rs 25,000. However, the existing STPs and SIPs registered under Mirae Asset Emerging Bluechip Fund before December 15, 2017 will continue as per the current process.
SIPs are investment options offered by mutual fund houses wherein one could invest a fixed amount in a mutual fund scheme at fixed intervals. Under Systematic Transfer Plan (STP) method of investing an investor transfers a fixed amount of money from one category of fund to another in a fixed interval- usually from a debt fund to an equity fund.
Mirae Asset Emerging Bluechip Fund, which has been one of the best-performing funds in the midcap space, has been gradually tightening inflows. In October 2016, Mirae Asset Emerging Bluechip Fund stopped accepting lump-sum investments into the scheme and capped SIPs at Rs 25,000 at PAN level for each investor.
Mirae Asset Emerging Bluechip Fund - Purchase restrictions from 15/12/2017
Lump-sum investment and switch-in are not allowed under this scheme as per the addendum during October 2016.
The existing STPs and SIPs registered before 15/12/2017 will be continued as per the current process.
As per the new process, SIP will be allowed only for the cycle date 10th of every month.
The maximum limit per PAN for the SIP investment (installment amount) is Rs 25,000
STP In will not be allowed from 15/12/2017.
Outflow will be allowed as per existing process
The investment objective of Mirae Asset Emerging Bluechip Fund is to generate income and capital appreciation from a diversified portfolio predominantly investing in equities and equity related securities of companies which are not part of the top 100 stocks by market capitalisation and have market capitalisation of at least Rs.100 crore at the time of investment.
As of November 2017, Mirae Asset Emerging Bluechip Fund had assets under management of over Rs 5,000 crore. According to the November fact-sheet of the fund, Mirae Asset Emerging Bluechip Fund has given a return of 38.67 in past one year. Over three years, it has given a CAGR (compound annual growth rate) return of 23.5 per cent and over five years at a CAGR of 30.73. And since inception in July 2010, it has given a return of CAGR return of 24.62 per cent. If you had invested Rs 10,000 in the scheme in July 2010, it would have turned Rs 50,000 - or your money grew five times in over seven years.