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

Thematic mutual fund scheme Mirae Asset NYSE FANG+ETF FoF-Reg(G) delivered nearly 20% returns in the January-March quarter outperforming its peers in this category in the said period. The returns were higher not just against those domestic funds which invest in Indian equities but also those which invest in overseas stocks.

As per the data available with Amfi, the number of thematic funds at the end of March stood at 160 which includes global, MNC and overseas fund-of-funds. The average returns delivered by this category in the January-March quarter stood at 5.10%.

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 MF 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.

Also Read: What HDFC Mid Cap Opportunities mutual fund bought & sold in Jan-Mar quarter

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)