It has been 5 years with Mirae Asset Mutual Fund (India) for me, across multiple roles heading Business Development as well as heading Sales and there has hardly been an interaction with partners in Distribution without discussing our flagship fund Mirae Asset Large and Midcap Fund( Earlier called Mirae Asset Emerging Bluechip Fund). A feedback received constantly was to completely open this fund for subscription. The decision had to be a function of the underlying opportunities broadening. Today, the surge in Indian equities reflects the resilience and potential of the country’s economy. With strengthening macro environment, we have also witnessed significant growth in capital markets. There has been significant increase in investment opportunities (no. of stocks) particularly in the mid and small cap space over the past five years through new listings, profit pool and thus, increase in market capitalization of these companies. There has also been significant increase in market depth and liquidity over the years.
Aggregate market cap of Nifty Midcap 150 index has increased by more than 2 times to Rs. 82.5 lakh crores from Nov 2020 to Jun 2024.
Aggregate profit (Profit After Tax) of Nifty Midcap150 index has grown by ~142% to Rs 2.1 lakh crores from Nov 2020 to Jun 2024.
There are more than 500 companies with a Market Capitalisation higher than June 2019 cut off for Midcap.
We have therefore decided to withdraw the existing suspension on subscription and completely open the Fund with effect from today, 1st August, 2024.
Happy Investing!
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The wait is over! Mirae Asset Large & Midcap Fund is now open for subscription across all investment modes subject to provisions of minimum application amount as mentioned in the SID effective from August 1, 2024.
Start investing today!
Know more: https://bit.ly/3WWko9b
Invest Now: https://bit.ly/3A7Ms06
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