Mirae Asset Tax Saver Fund Growth, Price, Investment and History In 2024

Mirae Asset Tax Saver Fund has been growing steadily since its launch in 2015. It remains a popular choice among discretionary ELSS funds for its tax benefits, replicable returns and long-term growth eligibility. With a minimum investment of ₹500 and flexible SIP choices, it is accessible to many investors. In 2024, the fund continues to benefit from its multiple equity portfolio and adequate fund administration, making it a solid pick for those seeking tax savings and equity market exposure.

What is the Mirae Asset Tax Saver Fund?

Mirae Asset Tax Saver Fund is an equity-linked savings scheme (ELSS) offered by Mirae Asset Mutual Fund. ELSS funds are a popular investment choice in India as they provide dual benefits: strong capital growth through equity market exposure and tax savings under section 80C of the Income Tax Act.

What is the Mirae Asset Tax Saver Fund Nav History?

The NAV (Net Asset Value) of the Mirae Asset Tax Saver Fund represents the market value of the fund’s assets after accounting for expenses. The NAV is updated regularly based on the retirement value of the assets in the fund’s portfolio.

To view the NAV History of Mirae Asset Tax Saver Fund, you can accept the following status.

1. Official Website of Mirae Asset

• Visit the official website of Mirae Asset Mutual Fund.

• See explanation of funds under “Equity Funds” or “Tax Saving Funds”.

• The NAV History section will usually display past NAVs for different time frames like 1 week, 1 month, 1 year or more.

2. Third-Party Platforms: Websites like:

Moneycontrol

Value Research

Morningstar

AMFI (Association of Mutual Funds in India)

These platforms maintain historic NAV data for mutual funds.

3. Mutual Fund Statement: If you are an investor, your recurring mutual fund statement will also show the period NAV of the purchase or any other corresponding transaction.

What are the Key Features of the Mirae Asset Tax Saver Fund?

Mirae Asset Tax Saver Fund is designed to provide tax savings and strong wealth growth by investing in equity and equity-related assets. Its special features are as follows:

1. Tax Benefits:

• Section 80C Deduction: Inputs up to ₹1.5 lakh in a year are eligible for tax deduction under Section 80C of the Income Tax Act, 1961.

• Tax-free growth: Long-term capital gains (LTCG) are tax-free up to ₹1 lakh per financial year, and any gain above ₹1 lakh is taxed at 10%.

2. Lock-in Period:

• 3-Year Lock-in: All investments in this fund are subject to an enforced lock-in condition of 3 years, which means they cannot be redeemed during this period.

3. Equity-Focused:

• The fund invests exclusively in equity and equity-related securities for long-term money growth.

• Its portfolio is diversified across different arenas and market capitalizations, providing exposure to large-cap, mid-cap and small-cap companies.

4. Risk-Return Profile:

• Higher risk: As an equity fund, it comes with a higher risk than debt-oriented or fixed-income investments, but the potential returns can be higher over the long term.

5. Open-Ended Scheme:

• After the lock-in period of 3 years, the project becomes open-ended, giving investors the flexibility to redeem their investments or remain invested.

6. Fund Management:

• Active Fund Management: The fund manager manages the portfolio to achieve long-term fund growth.

• The fund uses a bottom-up stock-picking approach to pursue quality portfolios with good expandability.

7. No Entry or Exit Load:

• No Entry Load: There is no load on investing in this project.

• No Exit Load: There is no exit burden as the fund has an enforced lock-in term of 3 years, and withdrawal is allowed only after this period.

8. SIP (Systematic Investment Plan) Option:

• Investors can choose to invest simply through SIPs, starting with as little as Rs 500, making it easier for those looking for disciplined long-term savings.

9. Long-Term Investment Horizon:

• This fund is suitable for long term investors, particularly those who wish to create wealth throughout 5 to 7 years or more, in addition to saving taxes.

10. Benchmark:

• The fund’s performance is generally matched against the Nifty 500 Total Return Index (TRI), representing the broad Indian equity market.

11. Growth and Dividend Options:

Investors can choose between spread or factorial selection depending on their investment preference.

• Growth Option: No payout; all profits are reinvested.

• Dividend Option: Periodic dividend payout as and when declared.

What are the Benefits of the Mirae Asset Tax Saver Fund?

Mirae Asset Tax Saver Fund offers multiple benefits to investors, especially those who want both fee savings and exposure to the equity markets. Here are the key benefits.

1. Tax savings: Deduction up to ₹1.5 lakh under Section 80C.

2. Wealth Creation: Long-term growth potential through equity investments.

3. Short lock-in: 3-year lock-in, lower than other tax-saving options You Can Contact Our Expert Legal Adviser.

4. SIP option: Invest regularly with as little as ₹500.

5. No entry/exit load: No charges for investment or redemption after lock-in.

6. Diversification: Investing in different sectors and market capitalizations.

7. Growth/Dividend Options: Choose between reinvestment or periodic payouts.

Mirae Asset Tax Saver Fund Growth?

Mirae Asset Tax Saver Fund – Growth Choice is designed for investors who want long-term wealth appreciation. In this choice, any gains or profits from the fund are reinvested instead of liquidated as shares. This allows for compounding returns over time, significantly enhancing the overall investment value.

1. Reinvestment of Profits: No recurring redemptions; all profits are reinvested to maximize long-term growth.

2. Standard for Long-Term Investors: This is appropriate for those who wish to create wealth over the long term (5-7 years or more).

3. Compounding effect: Continuous reinvestment leads to a compounding effect, which can result in higher returns over time.

4. Taxation: Long-term capital gains (LTCG) on equity funds are tax-free, up to ₹1 lakh per financial year. Gains above ₹1 lakh are taxed at 10%.

5. No Dividends: Investors do not earn recurring dividends, making it more suitable for those focusing on capital appreciation rather than regular income.

Mirae Asset Tax Saver Fund Regular Growth?

Mirae Asset Tax Saver Fund Regular Growth is a fund type designed for investors who seek long-term wealth appreciation and are dealing with a portfolio without the involvement of a salesperson or agent (hence the “Regular” tag).

1. Regular Plan: Distributor Commission: In the regular plan, there is a commission or salary for the dealer or consultant, which reduces the returns somewhat compared to a fair project.

2. Growth Option:

• Reinvestment of Profits: No dividend is given. All profits earned from the fund are reinvested to grow the investment further.

• Compounding Benefits: Consistent reinvestment provides strong compounding benefits, leading to greater growth over the long term.

3. Tax Benefits:

• Section 80C deduction: Investments up to ₹1.5 lakh per year are eligible for tax deduction under Section 80C.

• Tax on profits: Long-term capital gains (LTCG) up to ₹1 lakh per year are tax-free. Earnings above this limit are taxed at 10%.

4. Lock-in Period: This fund has an enforced lock-in period of 3 years, after which the Sharpen Wisdom cannot be redeemed.

5. Ideal for long-term growth: Ideal for investors with a broad investment horizon looking for tax benefits and wealth accumulation.

6. Higher Expense Symmetry: Normal projects usually have higher expense symmetry due to vendor commissions, which may slightly reduce the overall returns compared to an off-site project.

Mirae Asset Tax Saver Fund Direct Growth?

Mirae Asset Tax Saver Fund – Direct-Growth is an option designed for investors who wish to invest directly with a mutual fund company without going through an intermediary or dealer. This option generally offers higher returns in sync with a normal plan with low consumption purposes.

1. Direct Plan: No Vendor Salary: Since the vendor commission is eliminated in this project, the expenses are comparatively lower, resulting in slightly better returns than a normal project.

2. Growth Option

Reinvestment of Profits: All profits generated by the fund are reinvested rather than distributed as dividends.

Compounding Results: Reinvestment of returns helps compound, leading to spectacular growth over time.

3. Tax Benefits

Section 80C deduction: Investments up to ₹1.5 lakh per financial year are eligible for tax deduction under Section 80C of the Income Tax Act.

Tax on profits: Consolidated profits (LTCG) are tax-free up to ₹1 lakh per year. Any earnings above this amount are taxed at 10%.

4. Lock-in Period: A mandatory 3-year lock-in period applies, during which the investment cannot be withdrawn.

5. Lower Expense Ratio: The expense ratio in direct projects is lower and hence there is no commission to be paid to the intermediary, resulting in substantially higher returns.

6. Ideal for self-directed investors: This is best for investors who are comfortable managing their investments on their own, without the need for a financial advisor or salesperson.

7. Long-term wealth creation: This is for investors who want long-term capital appreciation and tax savings. The growth option ensures that all profits are reinvested for future growth.

What Is the Mirae Asset Tax Saver Fund NAV?

The NAV (Net Asset Value) of Mirae Asset Tax Saver Fund changes daily based on the market value of the underlying assets. The NAV represents the nominal unit value of the fund.

To know the latest NAV, you can check the following:

1. Official website of Mirae Asset.

2. Financial portals like Moneycontrol, Value Research or Morningstar.

3. AMFI (Association of Mutual Funds in India) website.

Alternatively, I can help you find the latest NAV if necessary.

What Is the Mirae Asset Tax Saver Fund Direct-Growth NAV?

Mirae Asset Tax Saver Fund Direct-Growth Plan currently has a net asset value (NAV) of ₹54.46. This equity-linked savings scheme (ELSS) is designed for long-term wealth growth and offers tax benefits under subsection 80C of the Income Tax Act. It focuses specifically on equity and equity-related assets, with a fund size of ₹25,617 crore as of July 2024.
This fund has no exit load and has an expense ratio of 0.58%, making it affordable. It is managed by Nilesh Surana and follows the Nifty 500 TR INR benchmark.

What Is the Mirae Asset ELSS Tax Saver Fund?

Mirae Asset Tax Saver Fund (ELSS) is an equity-linked liquidity scheme offering long-term wealth appreciation and tax benefits. Here is a brief description of its key features.

1. Tax benefits: Investment up to ₹1.5 lakh per year is eligible for deduction under Section 80C of the Income Tax Act.

2. Lock-in Period: The lock-in period of this fund is enforced to be 3 years, which is lesser than various other tax-saving instruments.

3. Equity Exposure: It invests primarily in equity and equity-related instruments, with a diversified portfolio across varying spreads and market capitalizations (large-cap, mid-cap, small-cap).

4. Growth and Dividend Options: Investors can choose between a growth option (where returns are reinvested) or a bonus dividend option (where returns are paid periodically).

5. Active Fund Administration: The fund is actively governed, with a focus on matching the growth of the stock market.

6. Performance Benchmark: The fund tracks the Nifty 500 Total Return Index (TRI), which reflects the performance of the broader Indian equity market.

What Is the Mirae Asset Tax Saver Fund Price?

Mirae Asset ELSS Tax Saver Fund Direct-Growth is a progressive equity-linked side investment (ELSS) that offers double the return of tax savings and long-term wealth creation eligibility under section 80C of the Income Tax Act.

Current NAV: ₹55.47 as of September 17, 2024.

1-Year Return: 35.25%.

Expense Ratio: 0.58%, which is lower than the category average.

Fund Manager: Neelesh Surana, managing the fund since 2015.

AUM: ₹26,042 crore as of August 2024.

The fund invests primarily in equities (98.56%) and has a very generous investment in financials (31.37%), making it a highly leveraged investment with a strong growth potential. Over the last 5 years, the fund has delivered a CAGR of 25.08%​

Mirae Asset Tax Saver Fund Calculator?

To estimate the expected returns for the Mirae Asset Tax Saver Fund, you can use the ELSS calculator, which helps you estimate the future value of the fund based on the investment amount, position and assumed return rate. Here’s how to use it.

Step 1: Type of investment: Lumpsum or SIP (Systematic Investment Plan).

Step 2: Investment amount: The total amount you plan to invest.

Step 3: Tenure: Number of years you wish to stay invested (minimum 3 years due to lock-in).

Step 4: Expected Returns: Generally, you can estimate based on past performance. For Mirae Asset Tax Saver Fund, past annual returns have been around 17-25% over different periods.

Popular ELSS Calculators

1. Mirae Asset’s Website often provides its calculator.

2. Financial portals like Moneycontrol, ClearTax, and Groww also have ELSS calculators where you can simulate your returns.

Mirae Asset Tax Saver Fund Invest Online?

You can invest in Mirae Asset Tax Saver Fund online through the following ways.

1. Mirae Asset’s Official Website:

Step 1: Go to the Mirae Asset Mutual Fund website:

Step 2: Register your account or log in.

Step 3: Select Mirae Asset Tax Saver Fund and choose the Direct or Regular plan.

Step 4: Decide between a lump sum or SIP (Systematic Investment Plan).

Step 5: Complete the payment using your preferred bank account.

2. Third-Party Platforms:

• Use apps or websites like Groww, ETMoney, Zerodha Coin, Kuvera, or INDmoney. These platforms allow you to invest directly or through simple investments.

• Simply create an account, complete your KYC, and choose the funds to invest in.

3. Net Banking:

• Many banks offer mutual fund investment services through their net banking portal. You can invest in the Mirae Asset Tax Saver Fund directly through the investment section of your bank.

4. AMFI Mutual Fund Utilities:

• You can also invest through AMFI’s Mutual Fund Utilities (MFU) portal, which integrates several fund houses, including Mirae Asset.

What Is The Mirae Asset Tax Saver Fund Lock-in Period?

The lock-in extension for Mirae Asset Tax Saver Fund is three years. During this period, you cannot redeem your investments. This is the standard to qualify for tax status under Section 80C for equity-linked savings schemes (ELSS) in India.

Mirae Asset Tax Saver Fund Statement?

To get your details for the Mirae Asset Tax Saver Fund, you can follow these steps.

Step 1: Go to the Mirae Asset website: Visit the official Mirae Asset website and go to the Mutual Funds section.

Step 2: Investor Services: Look for the “Investor Services” or “Customer Support” section.

Step 3: Log in or Register: If you have an online account, log in to expand your input details. If you don’t have an account, you may need to register.

Step 4: Download Clarification: Once you have logged in, you will usually get an option to download your input clarification or transaction statement.

Step 5: Contact Customer Service: If you are having trouble getting your clarification online, contact their customer service for help.

Conclusion

Mirae Asset Tax Saver Fund is a tempting choice for investors who want to combine tax freedom with long-term wealth growth. Its responsible track record, diversified portfolio and modest expense symmetry make it a solid candidate in the ELSS range. However, due to its equity exposure, this fund is best suited for those with high-risk tolerance and a long-term investment horizon. Since market volatility can make short-term returns ephemeral, the fund’s potential for wealth creation over time makes it an attractive option for tax-efficient investing.

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