Mutual fund reviews at freefincal primarily serve as an advertisement for RIY (review it yourself) with available risk-return analysis tools.
This time, let us look at Mirae Asset India Opportunities Fund (MAIOF) – large and mid-cap fund
Mirae asset has only two equity funds. The other fund is a mid and small-cap fund (emerging blue chip)
Although MAIOF has the flexibility to invest across “across sectors, themes, styles and market caps”, I think it is primarily a large cap fund with decent mid-cap exposure. However, it can invest up to 50% in derivatives to hedge risk.
Its investment strategy is a mix of
- core-approach – good stocks held for a long time
- tactical approach – stocks held for short-term depending on market conditions.
The following results are auto-generated from:
Return analysis (click to enlarge)
obviously that is pretty good outperformance.
A consistently high risk-return score is impressive.
Capture ratio = Upside capture/Downside capure
Upside capture is the geometric average of daily fund returns when the index returns are positive. Higher the better.
Downside capture is the geometric average of daily fund returns when the index returns are negative. Lower the better.
Higher the capture ratio, better the returns on risk adjusted basis.
The funds capture ratio is more volatile, but higher than its benchmark.
Verdict: Mirae Asset India Opportunities Fund has impressed since inception. Decent choice for new comers and can be used a lone portfolio fund (assuming the large cap orientation does not change). Older investors must evaluate the nature of their existing funds before considering this one.
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