Mirae Asset India Equity Fund with effect from 1st May 2019, is going through major changes like –
The fund will now be called as “Mirae Asset Large Cap Fund”. Previous Name – Mirae Asset India Equity Fund
2. Equity Fund Category
As can be judged from its name, the fund is shifting its category from Multicap Fund to Large Cap Fund. That is, previously the fund by mandate had to compulsorily invest at least 65% of its assets in equity securities (with no compulsory minimum allocation to large/ mid/ small cap stocks). But now, by mandate, the fund will have to compulsorily invest at least 80% of its assets in Large cap stocks.
The fund previously followed the S&P BSE 200 TRI . But now, it will follow NIFTY 100 TRI