‘There is volatility, but there is also opportunity’
Synopsis
Speaking of the current market, sure there is volatility but with that there is also opportunity. The second wave has led to corrections in sectors like BFSI, that s an opportunity.
Last week, Mirae Asset Mutual Fund surprised the mutual fund industry by cutting the commission paid to distributors in three of its flagship schemes. The move, as expected, met with mixed reactions from the intermediaries. Swarup Mohanty, CEO, Mirae Asset, says the step is aimed to discourage heavy inflows in the mid cap, focused and tax-saving funds. Read the full interview.
Mirae’s equity schemes may not figure in distributors’ recommended list
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Mirae Asset Mutual Fund has slashed the commission it pays distributors to sell its products in an unprecedented move that has miffed these intermediaries.
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Mirae Asset Mutual Fund has slashed the commission it pays distributors to sell its products in an unprecedented move that has miffed these intermediaries. The fund house said the step is aimed at discouraging distributors to sell their products to reduce flows into its schemes mainly Midcap, Focused and Tax-Saving. Distributors claim the asset manager has cut fees only to boost its profitability. The drop in distributor commissions will however not reduce investors’ annual costs in Mirae’s schemes.
What is in the portfolios of the best midcap funds?
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They include names like Federal Bank, Voltas, Bharat Forge, JK Cement and Crompton Greaves Consumer Electricals, publicly available portfolio data of the five top-performing midcap funds showed.
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These schemes delivered 36-55% returns for the last one year against a 23% rise in the BSE Sensex.
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NEW DELHI: A handful of common stocks seems to be driving the performance of some of the top-performing midcap funds in the last one year.
They include names like Federal Bank, Voltas, Bharat Forge, JK Cement, Crompton Greaves Consumer Electricals, SRF and Coromandel International, among others, publicly available portfolio data of the five top-performing midcap funds showed.