Fund Positioning
At Mirae Asset, Consumer Investment Theme responds to lasting changes in the emerging markets. Our strong conviction in long-term opportunities of the consumer theme in Asia especially led by India and China has led us to develop Mirae Asset India-China Consumption Fund.
What makes Mirae Asset China Consumption fund unique is that changing demographics of both these countries affects many sectors – beyond the consumer staples and discretionary sectors. The fund considers companies whose business model is positioned to benefit from greater consumption in India & China.
India and China act as a gateway to humongous opportunities on the consumption front. A combination of factors like Rising Urbanization, Burgeoning Middle Class, Large population, Rising Incomes, Huge demographics, Declining Dependency Ratio and Higher Saving rates will boost the GDP per capita income growth in India and China thereby providing a fillip to Consumption J-Curve. India has entered the window of opportunity recently while China is present since last two decades.
The fund invests atleast 65% in Indian Equity and Equity related securities and hence it is taxed as Equity fund, unlike other International Funds (whose Indian equity portion is less than 65%) which have debt taxation norms.
The investment strategy of the fund in general has been:
•India portion is 65%+ and China portion is < 35%- generally 70:30
•India Representation is across the sectors– FMCG, Retail, Media, Telecom, Financials, Autos, Building Materials, etc.
•China portion has conviction based ideas, preferably in complementary sectors
Fund Performance
Our focus is to invest in high quality businesses with strong cash flows which are available at reasonable valuations.
Mirae Asset India China Consumption Fund has been a consistent performing fund since its inception. The fund has delivered (as on 30th March, 2015) 22.24% returns compared to 19.69% returns delivered by its benchmark.
The fund has exposure to FMCG, Consumer Discretionary, Financials, Auto, and Building materials.
•long-term capital appreciation
•Investment in equity and equity related securities of companies benefiting directly or indirectly from consumption led demand in India/ China
•Risk – High
Performance AnalysisLast Updated On : 19/01/16
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016(YTD) | |
| Fund Return % | NA | NA | NA | NA | NA | 35.61 | 9.92 | 42.69 | 3.80 | -9.08 |
| Benchmark Return % | 60.44 | -56.46 | 88.51 | 16.22 | -26.95 | 30.98 | 4.38 | 35.47 | -1.48 | -8.17 |
| Sensex Return % | 47.15 | -52.45 | 81.03 | 17.43 | -24.64 | 25.70 | 8.98 | 29.89 | -5.03 | -7.39 |
| Fund rank in category | NA | NA | NA | NA | 134/86 | 18/78 | 9/72 | 47/69 | 27/68 | 44/67 |
| Percentile | NA | NA | NA | NA | -55 | 78 | 89 | 33 | 62 | 36 |
| Alpha over benchmark | NA | NA | NA | NA | NA | 4.63 | 5.54 | 7.22 | 5.28 | -0.91 |
| Key Facts | ||||||||||
| Fund Size - (Rs.Crs) | NA | NA | NA | NA | 15 | 18 | 19 | 27 | 34 | NA |
| Expense ratio | NA | NA | NA | NA | 2.50 | 2.50 | 2.67 | 2.85 | 3.01 | NA |
Recent Performance
| Last 3 months | Last 4 quarters | ||||||
| Oct-2015 | Nov-2015 | Dec-2015 | Jan-Mar 2015 | Apr-Jun 2015 | Jul-Sep 2015 | Oct-Dec 2015 | |
| Fund Performance | 3.17 | 1.30 | -1.44 | 6.36 | -1.15 | -4.15 | 3.01 |
| Benchmark Performance | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sensex Performance | 1.92 | -1.92 | -0.11 | 1.67 | -0.63 | -5.85 | -0.14 |
| Fund rank in category | 8/67 | 18/67 | 58/67 | 18/73 | 42/68 | 51/67 | 22/67 |
| Percentile | 90 | 75 | 15 | 77 | 40 | 25 | 69 |
| Alpha over benchmark | 3.17 | 1.30 | -1.44 | 6.36 | -1.15 | -4.15 | 3.01 |
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