Mirae Asset’s thematic mutual fund outperforms category in January-March quarter

Mirae Asset NYSE FANG+ETF FoF-Reg(G) is an overseas fund-of-funds (FoF) which predominantly invests in units of Mirae Asset NYSE FANG+ETF. The latter has a portfolio of stocks forming part of NYSE FANG + Index. The fund has been in inception since May 2021. It is benchmarked against S&P BSE SENSEX - TRI which has given results of 2.06%.

The other top thematic performers are Quant Momentum Fund-Reg(G), ICICI Pru PSU Equity Fund-Reg(G), Bandhan US Equity FoF-Reg(G), PGIM India Global Equity Opp Fund(G), and Invesco India PSU Equity Fund(G).


Bandhan US Equity FoF-Reg(G) and PGIM India Global Equity Opp Fund(G) are overseas FoFs while Quant Momentum Fund-Reg(G), ICICI Pru PSU Equity Fund-Reg(G), Invesco India PSU Equity Fund(G) is a domestic thematic fund.

The Ace Equities data suggests that there are 62 active overseas FoFs, 8 global funds and 5 MNC funds currently in the category.

While Mirae Asset NYSE FANG+ETF FoF-Reg(G) has outperformed its peers, the average returns by overseas funds stand at 5.03% for the quarter and are lower from average returns of domestic thematic MF schemes in the defined period as the latter has delivered returns of 6.96%.

Among other overseas FoFs, Franklin India Feeder - Franklin U.S. Opportunities Fund(G) and Mirae Asset S&P 500 Top 50 ETF FoF-Reg(G) are top performers with over 13% returns in the January-March period.

The average returns of global funds are at 7.91% and are higher than overseas FOFs and domestic thematic funds. The MNC category has been a top dud with just 0.64% returns.

In the global funds category, Nippon India Taiwan Equity Fund-Reg(G) and Nippon India US Equity Opp Fund(G) have been the top performers with over 11% returns.

Meanwhile in the MNC category, HDFC MNC Fund-Reg(G) and SBI Magnum Global Fund-Reg(G) have yielded negative returns of 1.10% and 2.54%, respectively.

Aditya Birla SL PSU Equity Fund-Reg(G), Aditya Birla SL Transportation and Logistics Fund-Reg(G) and Quant Quantamental Fund-Reg(G) are notable performers in domestic thematic MF schemes.

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