Mirae Asset Mutual Fund by the numbers: 98 schemes

The house in one number

Mirae Asset Mutual Fund managed an average of ₹2,37,421 crore in July–September 2026. That is 2.72% of the industry's ₹87,21,848 crore and puts it 10th among fund houses on AMFI's quarterly average AUM figures, which leave out domestic fund-of-funds. It was 11th the quarter before and overtook Tata, which averaged ₹2,36,199 crore. Its fund house page shows the same ranking.

It grew 12.8% in a year, from ₹2,10,410 crore, a shade slower than the industry's 13.1%. Its domestic fund-of-funds, which AMFI reports separately, held another ₹7,943 crore.

The house is 45 times its size of ten years ago. Its share of the industry peaked at 2.99% in late 2023 and early 2024, and has slipped to 2.72% since.

98 schemes, and most of them are passive

We counted every Mirae Asset scheme with a NAV in October 2026: each open-ended fund once, by its Direct Growth plan, and each ETF once, since an ETF has no Direct or Regular plan. Average assets are for all plans of each scheme in July–September 2026, fund-of-funds included.

So 71 of the 98 schemes are ETFs, index funds or fund-of-funds, and they hold 14.2% of the money. The other way round, twelve active equity funds hold two-thirds of it, and four of them hold more than half of the house's ex-FoF total:

The ETF and fund-of-funds shelf

The 40 ETFs are a long tail. Eight averaged more than ₹1,000 crore in the quarter and 19 averaged less than ₹100 crore. The largest:

The overseas ETFs are what set the shelf apart. On 30 September the FANG+ ETF held ₹4,449 crore in ten US companies at roughly 10% each, from Micron (11.08%) to Netflix (8.78%), with Nvidia, Meta, Microsoft and Alphabet in between. The S&P 500 Top 50 ETF held ₹1,154 crore and the Hang Seng TECH ETF ₹339 crore. Over three years the FANG+ ETF returned 42.96% a year in rupees, against 6.07% for the house's Nifty 50 ETF; our note on international funds and the rupee explains how much of such a gap is currency.

Most of the 20 domestic fund-of-funds wrap one of the house's own ETFs, such as the NYSE FANG+ ETF Fund of Fund (₹2,707 crore), so that an investor without a demat account can hold it. The guide to fund-of-funds covers the extra layer of cost that brings. FoF assets across the industry have more than doubled since June 2025.

How the active funds rank in their categories

Direct Growth returns to 9 October 2026, annualised; ranks are among the Direct Growth funds in each category with that much history.

The pattern is plain. Of the three funds here with a ten-year record, two are third in their categories. Over three and five years, most of its funds sit in the bottom half, and the Large Cap fund trails its category median of 9.21% a year over three years by 1.55 points. Our scorecard of fund houses against their categories put Mirae Asset 24th of 29 houses, with 2 of its 7 diversified funds above their category median over three years. The exception is the sector shelf: the Healthcare fund returned 21.95% a year over three years.

Costs

On AMFI's expense filings of 8 October 2026, Mirae's direct plans mostly charge less than their category's middle fund:

What the house owns

Adding up every Mirae scheme's 30 September disclosure, its funds held ₹1,87,619 crore in shares. The biggest positions are the usual large banks: HDFC Bank at ₹11,143 crore across 25 schemes, ICICI Bank at ₹8,653 crore, then Reliance Industries, Bharti Airtel, Axis Bank and SBI. The one name that stands out is Laurus Labs, seventh at ₹4,297 crore across 21 schemes.

The managers

Neelesh Surana has run the Large & Midcap fund since July 2010 and the ELSS fund since its launch in December 2015. Ankit Jain co-manages Large & Midcap and runs Midcap and Multicap; Gaurav Misra has run Large Cap since January 2019; Varun Goel took Flexi Cap in April 2024 and Small Cap in January 2025. On the passive side, Siddharth Srivastava has managed the FANG+ ETF since May 2021.

What the numbers do not tell you

Ten-year ranks belong partly to another market. The funds that are third over ten years are in the bottom half over five; which stretch matters is the reader's call, not the table's.

Scheme counts flatter the passive side. Seventy-one passive schemes and fund-of-funds sound like a passive house; by money they are a seventh of it.

Overseas returns are partly the rupee, and new money into overseas ETFs depends on an industry-wide limit that SEBI sets.

None of this is a recommendation to buy or sell any fund. The screener shows current figures for every scheme named here.