The Mirae Asset Bluechip Fund is classified under the Large & Mid Cap category, which requires it to allocate at least 35% of its assets to large-cap stocks and another 35% to mid-cap stocks. The fund focuses on high-growth companies with the potential to evolve into blue-chip stocks. Here we will compare this fund with its peers to see how it performs.
Mirae Asset Bluechip Fund’s Peer Comparison
Over the last five years, the Mirae Asset Emerging Bluechip Fund has delivered returns of 26.06%. While the one-year return was impressive at around 40%, the scheme currently manages assets worth Rs 39,706.00 with approximately 25% concentration in financial services, followed by 15.53% in consumer goods.
Here is how Mirae Bluechip equity mutual funds stand against its competition.
ICICI Prudential Bluechip Fund
Launched in 2013, this scheme oversees assets totaling Rs 62,717.10 crores. It has achieved an impressive average return of 22.42% over the past five years and a one-year return of 40.98%. Key companies in its portfolio include Larsen & Toubro, HDFC Bank, ICICI Bank, and Reliance Industries.
The ICICI Prudential Bluechip Fund mirrors the performance of the Nifty 100 TRI and has an expense ratio of 0.87%.
As of September 4, 2024, the scheme’s NAV was Rs 120.1800.
Kotak Bluechip Fund Direct
Kotak’s Bluechip scheme was launched in January 2013. It currently manages assets worth Rs 9,292.36 crores. With significant investments in financial services, consumer cyclical, and technology sectors, the scheme tracks the performance of the Nifty 100 TRI.
The fund has delivered an average return of 21.74% over the last five years, and its one-year return of 37.14% is also notable. The expense ratio of Kotak Bluechip fund is 0.59%.
The top five stocks by weight in the Kotak Bluechip Fund are nearly identical to those in the previously discussed scheme.
As of September 4, 2024, the scheme’s NAV was Rs 654.6730.
SBI Bluechip Fund
Launched in February 2006, SBI Bluechip has delivered an average return of 20.06% over the last five years and 30.16% over the past year. The scheme tracks the performance of the BSE 100 TRI and holds approximately 28% of financial services.
As of July 31, 2024, the scheme manages assets worth Rs 51,243 crores and charges an expense ratio of 0.80% to manage the scheme.
As of September 4, 2024, the NAV of the SBI Bluechip Scheme is ₹101.1045.
Canara Robeco Bluechip Equity
Launched in January 2013, the Canara Robeco Bluechip scheme manages assets worth Rs 14,528 crores as of July 2023. The scheme has an expense ratio of 0.46%.
In terms of performance, the scheme delivered an average return of 22.27% over the last five years and 36.26% in the past year alone. It aims to outperform the BSE 100 TRI. Approximately 28.77% of the scheme’s composition is allocated to financial services.
You can invest a minimum of Rs 100 via SIP or Rs 5,000 as a lump sum. As of September 4, 2024, this scheme’s NAV was Rs 69.89.
Axis Bluechip Fund Direct Plan
Launched in January 2023, this scheme currently manages assets worth Rs 35,013.30 crore. Tracking the performance of BSE 100 TRI over the previous five years, the scheme garnered an average return of 17.34%, while the one-year return stood at 32.92%. The expense ratio associated with this scheme is 0.67%.
Regarding asset allocation, Axis Bluechip invests around 29% in stocks from the financial services sector and a mere 0.32% in the real estate sector.
You can invest in it with Rs 100 through lump sum and SIP. As of September 4, 2024, the NAV of this scheme was Rs 69.9800.
Conclusion
Investing in mutual funds requires careful analysis and understanding of the market trends. The Mirae Asset Bluechip Fund has shown promising results over the years, making it a potential choice for investors. However, like any investment, it comes with its own set of risks and rewards. Therefore, it’s crucial to do thorough research and consult with a financial advisor before making any investment decisions.
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