Mirae Asset Mutual Fund lifts restrictions from large and midcap fund

Mirae Asset Mutual Fund (MF) will lift the restrictions on the amount investors can put into its large and midcap fund from August. The scheme, which was previously known as Mirae Asset Emerging Bluechip Fund, accepts investments only through the systematic investment plan (SIP) route at present with a maximum investment per month capped at Rs 25,000.

The fund house cited a surge in investment opportunities as the reason behind the decision.

"The Indian market's resilience and potential are evident in the surge of investment opportunities, especially within the mid and small-cap sectors. Over the past five years, new listings have significantly increased the number of stocks, expanding the market capitalisation and profit pool of these companies. Notably, the aggregate market cap of the Nifty Midcap 150 index has increased more than two-fold to Rs 82.5 trillion from November 2020 to June 2024, with aggregate profits growing by approximately 142 per cent to Rs 2.1 trillion during the same period," Mirae Asset MF said.