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Large Cap Fund SEBI Risk: Very High AMC: Mirae Asset Mutual Fund

Mirae Asset Large Cap Fund - Direct Plan - Growth

Benchmark: NIFTY 100 TRI • Manager: Gaurav Misra • Portfolio Date: 2026-09-30
Composite Health Score
82.5/100
INSTITUTIONAL_ALPHA
🔒 Deep Dive

Look-Through Forensics & Audit Narrative

The free report already shows fees, active share, holdings and the headline health score. The Deep Dive opens up what sits underneath the portfolio.

  • Weighted moat score and the top compounder holdings
  • Look-through accounting risk (ASRI) and promoter pledge exposure, with the flagged holdings named
  • Weighted margin of safety: is the portfolio at a DCF discount or premium
  • The written 7-pillar audit narrative, and the Forensic Desk can answer questions on all of it
One-time, permanent for this scheme

01: Dual-Sleeve Constituent Decomposition

Equity holdings evaluated via Forensic Equity Engine; Debt/bonds evaluated via Credit & Solvency Engine.
Equity: 60.3% (Score: 82.0) Debt: 0.0% (Score: 0.0) Cash / TREPS: 1.8%
Identifier Security Name Type Weight Sector / Rating Engine Score Diagnostic Notes
HDFCBANK ↗ HDFC Bank Ltd EQUITY 9.8% Private Banks 82.0 Verified 7-Pillar Equity Dossier Available
RELIANCE ↗ Reliance Industries Ltd EQUITY 9.2% Energy & Petrochemicals 82.0 Verified 7-Pillar Equity Dossier Available
ICICIBANK ↗ ICICI Bank Ltd EQUITY 8.6% Private Banks 82.0 Verified 7-Pillar Equity Dossier Available
INFY ↗ Infosys Ltd EQUITY 7.4% IT Services 82.0 Verified 7-Pillar Equity Dossier Available
TCS ↗ Tata Consultancy Services EQUITY 5.2% IT Services 82.0 Verified 7-Pillar Equity Dossier Available
LT ↗ Larsen & Toubro Ltd EQUITY 4.9% Infrastructure 82.0 Verified 7-Pillar Equity Dossier Available
ITC ↗ ITC Ltd EQUITY 4.5% FMCG 82.0 Verified 7-Pillar Equity Dossier Available
AXISBANK ↗ Axis Bank Ltd EQUITY 3.8% Private Banks 82.0 Verified 7-Pillar Equity Dossier Available
SBIN ↗ State Bank of India EQUITY 3.5% PSU Banks 82.0 Verified 7-Pillar Equity Dossier Available
BHARTIARTL ↗ Bharti Airtel Ltd EQUITY 3.4% Telecom 82.0 Verified 7-Pillar Equity Dossier Available
TREPS Net Cash & Call Money CASH_EQUIVALENT 1.8% CASH 100.0 Liquid Cash / Sovereign Collateral

02: True Diversification & Active Share

Exposing Closet Indexing: Active Share AS = 0.5 × ∑|w_fund - w_bench|
Active Share Score
52.4%
MODERATE_ACTIVE

Moderate Active Share: Meaningful benchmark overlap, blended active/passive posture.

Top 10 Holdings Concentration: 60.3%

03 & 04: Risk-Adjusted Alpha & Downside Capture

Evaluating asymmetrical compounding: Downside Capture Ratio vs Upside Capture Ratio.
Sortino Ratio
1.42
Downside Risk Only
Downside Capture
84.5%
Benchmark: ≤ 75%
Capture Spread
+11.5%
UCR (96.0%) - DCR
Hurst Exponent (H)
0.52
Persistent Momentum
3-Year Rolling Return Consistency: 64.0% of windows

05: Intermediary Fee Drag & Wealth Destruction

Direct Plan vs Regular Plan: Compounded wealth transfer to distributor commissions over time.
Annual Distributor Commission Drag
94.0 bps / yr (1.48% - 0.54%)
Time Horizon Direct Plan Value (Net) Regular Plan Value (Net) Cumulative Wealth Lost Percentage Corpus Destroyed
5 Years ₹1,720,264 ₹1,648,938 -₹71,326 4.1%
10 Years ₹2,959,309 ₹2,718,997 -₹240,312 8.1%
15 Years ₹5,090,795 ₹4,483,458 -₹607,336 11.9%
20 Years ₹8,757,513 ₹7,392,946 -₹1,364,567 15.6%

💡 Fiduciary Takeaway: A ₹10.0 Lakh investment loses ₹240,312 over 10 years purely to distributor commissions in the Regular plan.

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