Mirae Asset Mutual Fund changes names of 7 schemes

Mirae Asset Mutual Fund has changed the names of seven schemes. Names of four debt schemes and three equity schemes will change from December 15. The fund house informed the changes to the investors through a notice-cum-addendum dated November 2.

The fund house said the move is to align the scheme name with the respective scheme category. Sebi Master Circular dated May 19, 2023 on categorization of schemes stated that the scheme name should be the same as the scheme category for easy identification for investors.

Changes in scheme names

Old name	New name
Mirae Asset Banking and PSU Debt Fund	Mirae Asset Banking and PSU Fund
Mirae Asset Cash Management Fund	Mirae Asset Liquid Fund
Mirae Asset Savings Fund	Mirae Asset Low Duration Fund
Mirae Asset Short Term Fund	Mirae Asset Short Duration Fund
Mirae Asset Emerging Bluechip Fund	Mirae Asset Large & Midcap Fund
Mirae Asset Tax Saver Fund	Mirae Asset ELSS Tax Saver Fund
Mirae Asset Hybrid-Equity Fund	Mirae Asset Aggressive Hybrid Fund

The fund house informed that this notice-cum-addendum forms an integral part of the SID and KIM of the aforementioned schemes by the fund house, as amended from time to time. All other terms and conditions of SID and KIM of the aforementioned schemes will remain unchanged.

Mirae Asset Emerging Bluechip Fund is the largest scheme in the large & mid cap category based on assets managed. The scheme manages assets of Rs 29,024 crore. According to the scheme information document, the scheme manages 1,534,810 folios. The new name of the schemes will be Mirae Asset Large & Midcap Fund.

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Mirae Asset Tax Saver Fund will be named Mirae Asset ELSS Tax Saver Fund. It is the second largest scheme in the ELSS category based on assets managed. The scheme manages assets of Rs 17,985.38 crore. The scheme manages 1,705,556 folios.Mirae Asset Hybrid-Equity Fund will be named Mirae Asset Aggressive Hybrid Fund.

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