Mirae Asset India-China Consumption Fund An open ended equity oriented scheme NFO Opens on : 9 th March, 2011 NFO Closes on: 23 rd March, 2011 Scheme re-opens for continuous sale & repurchase on or before 5 th April, 2011. The case for India-China consumer theme & sectors.
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An open ended equity oriented scheme
NFO Opens on : 9th March, 2011
NFO Closes on: 23rd March, 2011
Scheme re-opens for continuous sale & repurchase on
or before 5th April, 2011.
By 2020 China GDP is forecast to be over US$12tn
and India at US$3.4tn
China & Indian population – Below 25 years as % of total
Source: CLSA Asia-Pacific Markets., 2010
Source: CLSA Asia-Pacific Markets, 2010
Rise of Asian Middle Class
Middle-class population and spending CAGR,
Source:CLSA, 2010, CAGR – Compounded Annualised Growth rate
Large Populations & Rising Incomes
Population, disposable income growth versus
Disposable income per capita versus population growth, 2009
Population (1000 Million)
China’s demographic profile - 2010
India’s demographic profile – 2010
Source: Statistical Outline of India; China Statistical Yearbook., 2010
Source: Asian Demographics, 2010
Under-Urbanization n China and India
Urbanization rates in China and India
Source: United Nations and CLSA, Oct 10
Source: Morgan Stanley, Oct 10
Consumer Non Durables
Rising Middle Class
India & China
GDP Per Capita Income Growth
Consumption J Curve
Declining Dependency Ratio
Source: Factset as on 31st Dec 10
India & China: Direct relationship between
Car sales and PCI
Source: Enam Research, Dec 10
The Tipping Point for Accelerated Car Sales
India & China Head Global Passenger Car Sales
Car Sales Growth %
Per Capita Income
Source: Enam Research, Dec 10
Source: Enam Research & Bloomberg, Dec 10.
India 1995 & 2010 Penetration
China 1995 & 2010 Penetration
Source: Enam Research, Crisil, NBSC, 2010
Consumer Non Durables
How big will India’s FMCG market be in 2020?
How big will China’s FMCG market be in 2020?
Source: CLSA Asia Pacific Markets, 2010.
Source: CLSA Asia Pacific Markets., 2010
Mirae Asset India – China Consumption Fund
Amount Invested (Rs)
Source: Factset & ACEMF as on 31st Jan 11.
Derived through our bottom-up approach to stock picking
Atrractive relative valuation with the consideration of liquidity and volatility
Capable and accountable management who care for shareholders’ values
Corporate Goverance Norms
Managements with good corporate governance track recordFund Investment Strategy
Quality over Quantity
Mr. Neelesh Surana – Senior Fund Manager (Equity)
Mr. Surana has professional experience of more than 10 years and is responsible for Portfolio construction & monitoring. Prior to this assignment, Neelesh was associated with ASK Investment Managers Pvt Ltd where he was responsible for tracking sectors like Metals, FMCG and Pharma. Schemes being co-managed by Mr Surana are Mirae Asset India Opportunities Fund, Mirae Asset Global Commodity Stocks Fund, Mirae Asset China Advantage Fund and Mirae Asset Emerging Bluechip Fund. Aged 40, Mr. Surana is a Mechanical Engineer by qualification and has done his Masters in Business Administration (Finance).
Mr. Basavraj Shetty – Fund Manager (Overseas Investments)
Mr. Shetty has 7.5 years experience in Equity Research Analysis role and is responsible for Investment Analysis, Advisory & Fund Management. His last assignment was with Centrum Broking Pvt. Ltd., as an Equity Research Analyst. Prior to that, he was with J P Morgan India Pvt. Ltd as an Investment Banking – Associate. Mr. Shetty has also worked with Middle East Brokerage Company, Oman & First Global Stock Broking Pvt. Ltd. as an equity research analyst. Aged 36, Mr. Shetty is a B. Tech by qualification and has done his Masters in Business Administration (Finance).
Statutory Details:Trustee: Mirae Asset Trustee Company Private Limited; Investment Manager: Mirae Asset Global Investments (India) Private Limited (AMC); Sponsor: Mirae Asset Global Investments Company Limited.
Mirae Asset India-China Consumption Fund (An Open ended Equity Oriented Scheme) - Investment Objective: The investment objective of the scheme is to generate long term capital appreciation through an actively managed portfolio investing in equity and equity related securities of companies that are likely to benefit either directly or indirectly from consumption led demand in India/China. The Scheme does not guarantee or assure any returns. Load Structure: Entry Load: Nil. In terms of SEBI circular no. SEBI/IMD/CIR No.4/ 168230/09 dated June 30, 2009, no entry load will be charged by the Scheme to the investor effective August 1, 2009. Upfront commission shall be paid directly by the investor to the AMFI registered Distributors based on the investors' assessment of various factors including the service rendered by the distributor. Exit Load: Redemption within 1 year (365 days) from the date of allotment (Including SIP/STP/SWP) - 1.00%. Redemption after 1 year (365 days) from the date of allotment - NIL. Asset Allocation: (1) Indian Equities and Equity Related Securities of companies that are likely to benefit either directly or indirectly from consumption led demand: 65%-90% (2) Chinese Equities and Equity Related Securities of companies that are likely to benefit either directly or indirectly from consumption led demand: 0%-35%; Money market instruments / debt securities Instruments and/or units of debt/liquid schemes of domestic Mutual Funds : 0%-25%.Terms of Issue: The units are available at the face value of Rs.10/- per unit during the New Fund Offer Period. The AMC will calculate and disclose the first NAV not later than 10 days from the closure of New Fund Offer Period. Subsequently, the NAV will be calculated at the close of every working day and shall be published in two daily newspapers and on the AMC/AMFI website. Risk Factors:Mutual fund investments are subject to market risks and there is no assurance or guarantee that the objectives of the scheme will be achieved. As with any investment in securities, the Net Asset Value (NAV) of the units issued under the Schemes can go up or down depending on the factors and forces affecting the capital markets. Investments in mutual funds are prone to risks of fluctuation in NAVs, uncertainty of dividend distributions etc. Past performance of the Sponsor / AMC / Mutual Fund / Trustee does not guarantee the future performance of the Schemes of Mirae Asset Mutual Fund. The sponsors are not liable or responsible for any loss resulting from the operation of the fund beyond the initial contribution made by them of an aggregate amount of Rupees One Lakh towards setting up of the fund. The Scheme should have a minimum of 20 investors and no single investor should account for more than 25% of the corpus of such scheme/plan(s). In case of non-fulfillment with either of the above two conditions in a three months time period or the end of succeeding calendar quarter, whichever is earlier, from the close of the New Fund Offer (NFO) or on an ongoing basis for each calendar quarter, the schemes /plans shall follow the necessary guidelines as prescribed by SEBI in this regard. Mirae Asset India-China Consumption Fund is only the name of the scheme and does not in any manner indicate either the quality of the scheme or its future prospects or returns. Investors in the scheme are not being offered any guaranteed / indicative/ assured returns. Please see "Risk Factors", "Scheme Specific Risk Factors and Special Consideration" and "Right to limit redemptions" in the Scheme Information Document (SID). Please read the Scheme Information Document (SID) & Statement of Additional Information (SAI) carefully before investing. A copy of SAI / SID/ Key Information Memorandum cum Application form will be available at AMC offices/AMC web-site www.miraeassetmf.co.in / Investor Service Centre / Distributors on request.