Mirae Asset Nifty 200 Alpha 30 ETF · NSE:ALPHAETF
Mirae Asset Nifty 200 Alpha 30 ETF — Mirae Asset Mutual Fund — Debt Investor Presentation (December 2021)
25 slides from Mirae Asset Nifty 200 Alpha 30 ETF's debt investor presentation, December 2021
Slide 1: Debt Market Review and Outlook
Debt Market Review and Outlook (Short Duration Fund) December 2021
Slide 2: Highlights of the Month
Highlights of the Month TREPS 3.90 Farm Law repealed Union Government repealed the three farm laws 3.80 it passed in the Parliament in September 2020 3.70 WPI increased number Inflation rises but momentum softens Fed Meeting • Oct WPI inflation came in at 12.5% CPI inflation picked up further 3.60 F
Slide 3: Domestic Outlook
Domestic Outlook Underlying factors provide optimism for continued recovery GDP Growth RBI retained growth projection @ 9.5% Investment and consumption led the drive in 2QFY22 GDP growth to 8.4% YoY Strong fiscal recovery led by revenue collections Fiscal Air India & LIC divestment provides optimism
Slide 4: Outlook
Outlook RISKS TO THE OUTLOOK SUPPORTED BY WHAT TO EXPECT Flattening of the Yield Curve Supportive domestic fundamentals - Global inflationary theme playing out - Policy normalization the only way - Inflation for now Prompting Central Banks to change ahead stance - Fiscal Prudence - Improved macro va
Slide 5: RBI's liquidity normalization measures in place
RBI’s liquidity normalization measures in place Repo (LHS) 10Y (RHS) (a) Changed its guidance from time to state based 5.3 (b) GSAP 6.8 MPC revises up its inflation & growth 5.1 RBI opens up its arsenal to rescue projections 6.6 bond markets (OTs, LTRO & HTM Limits) 4.9 6.4 MPC status quo on rates;
Slide 6: Liquidity in surplus
Liquidity in surplus 12000 Liquidty 10000 8000 6000 4000 2000 0 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21 • Increase quantum of variable rate reverse repo (VRRR) of 14-day tenor to Rs6.5 tn by December 17, 2021 from the current Rs. 6 tn to Rs. 7.5 tn by December 31, 2021. Consequently,
Slide 7: Market Update
Market Update 6 Months - Money Market Yields 3 Months - Money Market Yields 6M CD 6M CP 6 Months T-bills 3MCD 3M CP 3 Months T-bills 3.95 4.15 3.90 4.10 3.85 4.05 3.80 4.00 3.75 3.95 3.70 3.90 3.65 3.85 3.60 3.80 3.55 3.75 3.50 3.70 29-Oct-21 05-Nov-21 12-Nov-21 19-Nov-21 26-Nov-21 03-Dec-21 29-Oct-
Slide 8: Debt Funds strategy
Debt Funds strategy
Slide 9: Fund Positioning
Fund Positioning Mirae Asset Dynamic Bond Fund* Rolldown strategy Mirae Asset Corporate Bond Fund Mirae Asset Banking & PSU Debt Fund Flexible Duration strategy Mirae Asset Short Term Fund Mirae Asset Money Market Fund Rolldown strategy Mirae Asset Savings Fund Active Management strategy Mirae Asset
Slide 10: Investment Approach – Debt Process
Investment Approach –Debt Process
Slide 11: Investment Approach – Interest Rate outlook
Investment Approach – Interest Rate outlook
Slide 12: Investment Approach – Internal Credit Rating Model
Investment Approach – Internal Credit Rating Model
Slide 13: Mirae Asset Cash Management Fund
Mirae Asset Cash Management Fund (Liquid Fund - An open ended liquid scheme. A relatively low interest rate risk and moderate credit risk.)
Slide 14: Portfolio Attributes
Portfolio Attributes Asset type Allocation Debt ratio Commercial Paper Treasury Bill Government Bond Certificate of Deposit Nov-21 Oct-21 Corporate Bond Cash & Other Receivables YTM 3.53% 3.63% 5.5% 13.1% Average Maturity 27.75 Days 23.44 Days 4.0% Modified Duration 0.08 0.06 54.6% Macaulay Duration
Slide 15: Mirae Asset Ultra Short Duration Fund
Mirae Asset Ultra Short Duration Fund (An Open ended ultra-short term debt scheme investing in instruments such that the Macaulay duration* of the portfolio is between 3 months to 6 months (*please refer to page no.33 of the SID). A relatively low interest rate risk and moderate credit risk.)
Slide 16: Portfolio Attributes
Portfolio Attributes Asset Allocation Commercial Paper Treasury Bill Debt ratio Corporate Bond Certificate of Deposit Government Bond Cash & Other Receivables Nov-21 Oct-21 YTM 3.82% 3.92% 18.9% 9.5% 6.4% Average Maturity 95.77 Days 88.18 Days 1.0% Modified Duration 0.26 Years 0.24 Years 24.8% Macau
Slide 17: Mirae Asset Savings Fund (MASF)
Mirae Asset Savings Fund (MASF) (An open-ended low duration debt scheme investing in instruments with Macaulay duration* of the portfolio between 6 months and 12 months (*Refer page no. 33 of the SID). A moderate interest rate risk and moderate credit risk.
Slide 18: Portfolio Attributes
Portfolio Attributes Rating Allocation Asset type Allocation AAA A1+ SOV AA AA- Cash & Other Receivables Corporate Bond Commercial Paper Government Bond Certificate of Deposit State Government Bond Treasury Bill Zero Coupon Bond Cash & Other Receivables 1.2% 1.5% 13.4% 2.4% 13.4% 5.3% 33.5% 2.5% 39.
Slide 19: Portfolio Attributes
Portfolio Attributes Maturity spreads Debt ratio Nov-21 Oct-21 Change (bps) Nov-21 Oct-21 0-6 M 60.6 66.3 -566 Modified Duration 0.53 0.51 6M- 1 Y 18.2 13.4 480 Macaulay Duration 0.55 0.53 1Y - 2Y 13.6 15.9 -234 YTM 4.08% 4.12% 2Y – 3Y 2.5 2.4 6 Avg Maturity 209.16 201.94 3+ Years 2.2 1.9 25 Total 1
Slide 20: Why Invest now in MASF?
Why Invest now in MASF? • Yield curve is expected to flatten further, and with increase in quantum of VRRR , money market yield may remain volatile with upward basis. • With a view of Short term rates which may to go up, investing in short end with a combination of medium term papers to boost yield
Slide 21: Mirae Asset Money Market Fund
Mirae Asset Money Market Fund (An Open ended debt scheme investing in money market instruments. A relatively low interest rate risk and moderate credit risk.)
Slide 22: Portfolio Attributes
Portfolio Attributes Asset Allocation Debt ratio Commercial Paper Treasury Bill Certificate of Deposit Government Bond Nov-21 Oct-21 YTM 3.81% 3.98% 15.0% Average Maturity 92.78 Days 105.32 Days 8.5% 49.7% Modified Duration 0.25 0.29 10.0% Macaulay Duration 0.25 0.29 16.8% • Fund has increased its a
Slide 23: Product Labelling
PRODUCT LABELLING ‘Scheme Banchmark: CRISTL Overnight Index Mirae Asset Overnight Funds suitable for investors who are seeking” ‘Shame Rickometor Benchmark Riskoretar + Regularincome over a short term that may be in line with the overnight call rates + Investment in overnight securities “investors s
Slide 24: Product Labelling
PRODUCT LABELLING ‘eh Banca RSI Low Duration Debt Index Mirae Asset Savings Fund is suitable for investors who are seeking” Scheme Riskometer Aenchmark Rikonetr + An open ended low duration debt scheme ‘eal + Investment in debt and money market instruments such that the Macaulay duration of the port
Slide 25: Disclaimer
Disclaimer Statutory Details: Trustee: Mirae Asset Trustee Company Private Limited; Investment Manager: Mirae Asset Investment Managers (India) Private Limited (AMC); Sponsor: Mirae Asset Global Investments Company Limited. The information contained in this document is compiled from third party and
Mirae Asset Mutual Fund — Debt Investor Presentation (December 2021) on 6ix