Mirae Asset Equity Savings Fund
The fund remains heavily tilted toward financial stability, with banks commanding over 14% of the portfolio and a substantial sovereign debt buffer—positioning it defensively for moderate equity returns with downside protection. The manager's recent preference for rated corporate bonds over equities, evidenced by the sharp increase in TREPS weighting and new additions in power and metals, signals cautious conviction that credit quality beats growth in the current environment. The pruning of defensive plays like Coal India suggests a tactical rotation toward stability-focused financials and infrastructure rather than a sustained risk appetite.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Direct Growth | ₹22.3020 | — | — | — | — | — | — |
| Regular Growth | ₹20.6620 | +0.08% | -1.41% | -0.59% | +4.07% | +10.13% | +9.26% |
| Direct IDCW | ₹13.3370 | — | — | — | — | — | — |
| Regular IDCW | ₹12.2300 | — | — | — | — | — | — |
Portfolio Metrics(latest month)
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| Supreme Industries Ltd. | 0.18% |
| Talwandi Sabo Power Ltd. A** | 0.09% |
| Malco Energy Ltd. A** | 0.09% |
| Vedanta Iron and Steel Ltd. A** | 0.09% |
| Vedanta Aluminium Metal Ltd. A** | 0.09% |
| Britannia Industries Ltd. | 0.05% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | TREPS | 4.19% |
| 2 | HDFC Bank Ltd. INE040A01034 | 4.19% |
| 3 | ICICI Bank Ltd. INE090A01021 | 2.84% |
| 4 | 7.88% Muthoot Finance Ltd. (MD 22/11/2028)** INE414G07JS2 | 2.57% |
| 5 | Reliance Industries Ltd. INE002A01018 | 2.31% |
| 6 | Bharti Airtel Ltd. INE397D01024 | 2.25% |
| 7 | State Bank of India INE062A01020 | 2.12% |
| 8 | 7.45% Torrent Pharmaceuticals Ltd. (MD 19/01/2028)** INE685A07132 | 2.07% |
| 9 | 7.60% Torrent Pharmaceuticals Ltd. (MD 19/01/2029) INE685A07157 | 2.06% |
| 10 | Net Receivables / (Payables) | 1.98% |
| 11 | Axis Bank Ltd. INE238A01034 | 1.73% |
| 12 | Larsen & Toubro Ltd. INE018A01030 | 1.66% |
| 13 | Mahindra & Mahindra Ltd. INE101A01026 | 1.46% |
| 14 | Tata Steel Ltd. INE081A01020 | 1.46% |
| 15 | 6.79% Government of India (MD 07/10/2034) IN0020240126 | 1.38% |
| 16 | 7.32% Government of India (MD 13/11/2030) IN0020230135 | 1.33% |
| 17 | 7.18% Government of India (MD 14/08/2033) IN0020230085 | 1.32% |
| 18 | 8.95% Bharti Telecom Ltd. (MD 04/12/2026)** INE403D08207 | 1.31% |
| 19 | 8.75% Piramal Finance Ltd. (MD 29/10/2027)** INE202B07JW4 | 1.31% |
| 20 | 7.45% Power Finance Corporation Ltd. (MD 15/07/2028) INE134E08NP7 | 1.30% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.