Mirae Asset Focused Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 16, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Mirae Asset Focused Fund Direct Growth Plan had a NAV of ₹27.292 as of 15 September 2026 and managed ₹6,751 Cr of scheme assets. Its 1-year, 3-year and 5-year returns are -4.79%, 6.51% and 5.94%, and the scheme carries a High Risk label.
Our view is that this is a focused equity fund with a concentrated portfolio and uneven near-term outcomes. It may suit investors who can stay patient through short-term swings and who want a portfolio built around a limited set of large convictions rather than broad diversification.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹27.292 as of 15 Sep 2026 |
| AUM | ₹6,751 Cr |
| Expense Ratio | 0.56% |
| Launch Date | 14 May 2019 |
| Min SIP | ₹99 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | 1% on or before 1Y(365D), Nil after 1Y(365D) |
| Fund Managers | Gaurav Misra, Varun Goel |
The fund is managed by Gaurav Misra and Varun Goel.
Source data date: as of 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -2.71% | -4.81% |
| 3M | 4.53% | -3.63% |
| 1Y | -4.79% | -8.27% |
| 3Y | 6.51% | 5.59% |
| 5Y | 5.94% | 5.58% |
The recent pattern is mixed but not directionless. Over 1 month and 1 year, the fund was still under pressure, yet it held up better than the benchmark in both periods. The 3-month figure is the clearest sign of recovery, with a positive return while the benchmark remained negative.
The longer view is steadier. The 3-year return is slightly ahead of the benchmark, and the 5-year return is also ahead, which tells us the fund has created modest excess return over a full market cycle rather than relying only on a short burst of performance. That matters for a focused strategy, because these portfolios can move sharply when a few holdings lead or lag.
The path has not been smooth. The recent drawdown and partial rebound suggest the fund can move around meaningfully in weaker markets, but the trailing 3-year and 5-year figures show that it has still compounded at a pace above the index over time. In our view, the main question is not whether the fund can beat the benchmark in every period, but whether an investor is comfortable with the uneven ride that comes with that style.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD Mirae Asset Focused?
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 Focused? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Mirae Asset Focused Fund Direct Growth Plan | -4.79% | 6.51% | 5.94% |
| Motilal Oswal Focused Fund Direct Growth Plan | 22.84% | 13.21% | 10.13% |
| Old Bridge Focused Fund Direct Growth Plan | 14.09% | Data not available | Data not available |
| SBI Focused Fund Direct Growth Plan | 12.80% | 15.38% | 12.15% |
| Quant Focused Fund Direct Growth Plan | 11.10% | 12.62% | 13.61% |
| ITI Focused Fund Direct Growth Plan | 7.42% | 16.93% | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On the latest 1-year numbers, the fund trails the stronger peer figures by a wide margin, even though it still outpaced the benchmark over the same period. That makes the recent stretch look less compelling than several peer funds.
The 3-year and 5-year figures tell a more balanced story. The fund is behind the stronger peer outcomes in both periods, but it remains ahead of or close to some peer results and it has still stayed above the benchmark on both horizons. The short-term picture therefore looks weaker than the longer-term one, yet the longer-term peer view is not uniformly negative.
For investors, the key distinction is that this fund’s recent recovery has not yet caught up with the sharper gains seen in some other focused funds, but its medium-term record still shows workable compounding relative to the index.
Source data date: as of 15 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| ICICI Bank Ltd. | Bank | 9.05% |
| HDFC Bank Ltd. | Bank | 8.12% |
| One 97 Communications Ltd. | IT | 5.54% |
| TREPS | Cash & Cash Equivalents and Net Assets | 5.42% |
| Bharti Airtel Ltd. | Telecom | 5.34% |
| Reliance Industries Ltd. | Crude Oil | 4.59% |
| Infosys Ltd. | IT | 4.38% |
| Life Insurance Corporation of India | Insurance | 4.31% |
| Maruti Suzuki India Ltd. | Automobile & Ancillaries | 3.83% |
| Eternal Ltd. | Retailing | 3.57% |
The top 10 holdings account for approximately 54.15% of the portfolio.
To see all holdings, visit the Mirae Asset Focused Fund Direct Growth Plan page
The largest position, ICICI Bank Ltd., carries a 9.05% weight, which is meaningful but not dominant on its own. The gap from the first holding to the tenth holding is moderate rather than extreme, as weights ease from 9.05% to 3.57% across the top ten.
That spread suggests the fund is not reliant on a single stock, yet the combined weight of the top 10 holdings is still just over half of the portfolio. With 32 disclosed holdings in total, our view is that the fund may be diversified enough to avoid a pure single-name story, but it still has a clearly focused profile where a handful of positions could have greater influence on outcomes.
Source data date: as of 15 Sep 2026
Who should invest
This fund is better aligned with investors who can handle High Risk exposure and who are comfortable with a focused equity style that can move unevenly over shorter periods. The 1-year setback shows that the path can be rough, while the 3-year and 5-year figures suggest the strategy can still compound above the benchmark over time.
It fits a longer investment horizon more naturally than a short one, because the recent performance dip and partial recovery show that timing risk is real. The main trade-off is straightforward: you accept sharper swings and concentration in exchange for the possibility of benchmark-beating medium-term returns.
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% on or before 1Y(365D), Nil after 1Y(365D).
Source data date: as of 15 Sep 2026
Frequently asked questions
What is the current NAV of Mirae Asset Focused Fund Direct Growth Plan?
The current NAV is ₹27.292 as of 15 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is -4.79%, the 3-year return is 6.51% and the 5-year return is 5.94%.
How does the fund compare with the Nifty 50 benchmark?
It is ahead of the benchmark over 3 years and 5 years, and it also held up better than the benchmark over 1 month and 1 year. The 3-month return is positive while the benchmark stayed negative.
How does it compare with the peer funds listed here?
Its 1-year return is below the stronger peer outcomes shown here, while the 3-year and 5-year figures are more mixed. The longer-term record is not the strongest in the group, but it is still broadly competitive on a medium-term basis.
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 Gaurav Misra and Varun Goel. The exit load is 1% on or before 1 year and nil after 1 year.
Bottom line
Mirae Asset Focused Fund Direct Growth Plan has a mixed recent record, but its 3-year and 5-year returns point to better long-term compounding than the benchmark. Compared with the peer set shown here, the short-term figure looks weaker than several alternatives, while the medium-term picture is more balanced. The portfolio is focused rather than sprawling, with the top 10 holdings making up a little over half of the scheme and the largest holding carrying a meaningful but not overwhelming weight. That combination may appeal to investors who accept High Risk and prefer a concentrated equity approach with a longer horizon.
Published on 16 September 2026 at 12:46 PM 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.