Mirae Asset Equity Savings Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 16, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Mirae Asset Equity Savings Fund Direct Growth Plan is a hybrid scheme with a current NAV of ₹22.847 as of 15 September 2026 and an AUM of ₹2,040 Cr. Its 1-year, 3-year and 5-year returns are 4.53%, 9.43% and 8.79%, and the fund sits in the Medium Risk category.
Our view is that the fund suits investors who want a steadier hybrid allocation rather than a pure equity profile. The return pattern is modest in the recent year, stronger over 3 years, and broadly steady over 5 years, while the portfolio includes both bank equity exposure and corporate debt holdings.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹22.847 as of 15 Sep 2026 |
| AUM | ₹2,040 Cr |
| Expense Ratio | 0.36% |
| Launch Date | 17 Dec 2018 |
| Min SIP | ₹99 |
| Risk Category | Medium Risk |
| Benchmark | Nifty 50 |
| Fund Category | Hybrid |
| Exit Load | 1% on or before 90D, Nil after 90D |
| Fund Managers | Harshad Borawake, Vrijesh Kasera, Bharti Sawant, Basant Bafna |
The fund is managed by Harshad Borawake, Vrijesh Kasera, Bharti Sawant and Basant Bafna.
Source data date: as of 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -1.27% | -4.81% |
| 3M | 0.83% | -3.63% |
| 1Y | 4.53% | -8.27% |
| 3Y | 9.43% | 5.59% |
| 5Y | 8.79% | 5.58% |
The recent numbers show a softer short-term phase, but the fund still held up better than the benchmark over 1 month, 3 months and 1 year. That tells us the hybrid structure has helped cushion the drawdown that the benchmark faced in the same windows.
Over 3 years, the picture improves meaningfully. The fund’s 9.43% return is above the benchmark’s 5.59%, which suggests the strategy has compounded better through a fuller market cycle than the index it is compared with here.
Over 5 years, the fund remains ahead of the benchmark as well, with 8.79% versus 5.58%. The longer-term path looks more stable than the benchmark’s recent behaviour, so the fund appears to have delivered steadier compounding rather than sharp bursts of upside.
Recent movement is still important. The 1-month and 3-month pattern is not as strong as the 3-year trend, so our read is that the fund has not been uniformly strong in every window, but it has continued to compare favourably with the benchmark across all available periods.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD Mirae Asset Equity Savings?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding Mirae Asset Equity Savings? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Mirae Asset Equity Savings Fund Direct Growth Plan | 4.53% | 9.43% | 8.79% |
| Edelweiss Equity Savings Fund Direct Growth Plan | 8.26% | 11.32% | 9.71% |
| HSBC Equity Savings Fund Direct Growth Plan | 6.84% | 12.61% | 10.76% |
| WOC Equity Savings Fund Direct Growth Plan | 6.63% | Data not available | Data not available |
| Mahindra Manulife Equity Savings Fund Direct Growth Plan | 5.58% | 9.02% | 8.63% |
| Axis Equity Savings Fund Direct Growth Plan | 5.15% | 9.4% | 7.84% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On a 1-year view, the fund trails several peers that have delivered stronger recent returns, which suggests the recent phase has been less competitive than the better-performing names in the set. The 3-year and 5-year figures are more balanced: the fund is ahead of some peers, but behind the strongest long-term numbers in the table. That split points to a story of decent longer-term stability without standout recent momentum.
Source data date: as of 15 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| TREPS | Cash & Cash Equivalents and Net Assets | 4.5% |
| ICICI Bank Ltd. | Bank | 3.52% |
| HDFC Bank Ltd. | Bank | 2.94% |
| 8.65% Muthoot Finance Ltd. (MD 31/01/2028)** | Corporate Debt | 2.45% |
| 7.88% Muthoot Finance Ltd. (MD 22/11/2028)** | Corporate Debt | 2.41% |
| Reliance Industries Ltd. | Crude Oil | 2.33% |
| Bharti Airtel Ltd. | Telecom | 2.26% |
| State Bank of India | Bank | 2.23% |
| Net Receivables / (Payables) | Cash & Cash Equivalents and Net Assets | 2.19% |
| Axis Bank Ltd. | Bank | 2.04% |
The largest disclosed holding is TREPS at 4.5%, which is not especially dominant on its own. That matters because the next few positions are also fairly close in size, with the tenth holding still at 2.04%, so the visible book does not look dependent on one oversized line item.
The weight drop from first to tenth is gradual rather than steep. That pattern may reduce the chance that one or two names drive most of the short-term movement, while still leaving the fund with enough active positions to reflect stock selection and credit allocation across different sleeves.
The top 10 holdings together account for 26.87% of the portfolio, and the fund discloses 64 holdings in total. That combination suggests a fairly long tail beyond the largest positions, so the portfolio could be spread across many smaller exposures rather than concentrated only in the headline names.
To see all holdings, visit the Mirae Asset Equity Savings Fund Direct Growth Plan page
Source data date: as of 15 Sep 2026
Who should invest
This fund fits investors who can live with medium risk and want a hybrid allocation that is less dependent on one asset class. The 1-year return is modest, but the 3-year and 5-year numbers are stronger, so a longer holding period matters more than short-term timing.
The main trade-off is that the fund may lag strong equity-only phases, but it can also be better behaved than a pure stock fund when markets are unsettled. It is more suitable for an investor who wants balanced growth potential and can stay invested through periods when short-term returns look uneven.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load: 1% if units are sold on or before 90 days; nil after 90 days.
Source data date: as of 15 Sep 2026
Frequently asked questions
What is the current NAV of Mirae Asset Equity Savings Fund Direct Growth Plan?
The current NAV is ₹22.847 as of 15 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 4.53% for 1 year, 9.43% for 3 years and 8.79% for 5 years.
How has the fund performed against its benchmark?
It has beaten the benchmark across all the listed periods. The benchmark return is -8.27% for 1 year, 5.59% for 3 years and 5.58% for 5 years.
How does it compare with peer equity savings funds?
Its 1-year return is lower than several peers in the table, while its 3-year and 5-year numbers are more mixed and sit above some peers but below the strongest long-term figures.
What is the minimum SIP amount?
The minimum SIP amount is ₹99.
Who manages the fund and what is the exit load?
The fund is managed by Harshad Borawake, Vrijesh Kasera, Bharti Sawant and Basant Bafna. The exit load is 1% if units are sold on or before 90 days and nil after 90 days.
Bottom line
Mirae Asset Equity Savings Fund Direct Growth Plan has been steadier over longer windows than in the latest year, and its benchmark comparison is clearly supportive across the periods shown. Against peers, the recent-year return looks softer, while the 3-year and 5-year figures are more middle-ground than standout. The Medium Risk profile and a portfolio that mixes bank equity exposure with corporate debt may appeal to investors who want balance rather than pure equity intensity.
Published on 16 September 2026 at 9:34 AM IST
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RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.