Summary: Mirae Asset Emerging Bluechip Fund is no longer the current scheme name. The continuing underlying scheme is Mirae Asset Large & Midcap Fund, an open-ended equity scheme investing in both large-cap and mid-cap companies. Official September 2026 materials show a Nifty Large Midcap 250 TRI benchmark, a minimum 35% allocation to each of the large-cap and mid-cap buckets, monthly average AUM of ₹44,484.245 crore, base expense ratios excluding statutory levies of 1.27% for the regular plan and 0.50% for the direct plan, and a Very High riskometer. The standard exit load is 1% for units redeemed within 365 days and nil after that period, with a stated SWP-related free-unit mechanism described in the current factsheet. The scheme is an equity-oriented mutual fund for tax purposes when the statutory conditions are met, so holding period and the prevailing equity capital-gains rates matter. This article resolves the historical name, explains the portfolio mandate, costs, transactions, tax and documentation, and avoids performance predictions or suitability claims.
- The Candidate Name Has Changed but the Underlying Scheme Continues
- Large-and-Mid-Cap Mandate and Portfolio Construction
- Fund management and portfolio evidence
- Minimum Investment, SIP and Transaction Choices
- Expense Ratio and the Direct-versus-Regular Distinction
- Exit Load, FIFO and Systematic Withdrawal Treatment
- Equity-Oriented Mutual Fund Tax for Indian Investors
- Riskometer, Liquidity and Suitability Limits
- Frequently Asked Questions
- Is Mirae Asset Emerging Bluechip Fund still the current name?
- What is the minimum large-cap and mid-cap allocation?
- What benchmark does the scheme use?
- What were the September 2026 base expense ratios?
- What is the usual exit load?
- Does switching avoid tax?
- Is IDCW tax-free for the investor?
- Does the Very High riskometer predict a loss?
- Key Takeaways
The Candidate Name Has Changed but the Underlying Scheme Continues
The dated queue identified Mirae Asset Emerging Bluechip Fund. The official AMC now presents the same underlying scheme as Mirae Asset Large & Midcap Fund and labels the earlier name as the erstwhile name. This is a name resolution, not a second fund and not a reason to repeat coverage under both names. Investors should use the current name on forms and records while retaining old statements because historical folio and tax evidence may still show the former name.
The scheme is managed by Mirae Asset Investment Managers (India) Private Limited under Mirae Asset Mutual Fund. The official factsheet records an allotment date of 9 July 2010. The scheme offers regular and direct plans with growth and income-distribution-cum-capital-withdrawal options. Direct and regular plans share the portfolio but have different expense structures because the direct plan excludes distribution commission.
| Current scheme fact | Verified position as of 30 September 2026 |
|---|---|
| Current name | Mirae Asset Large & Midcap Fund |
| Former name | Mirae Asset Emerging Bluechip Fund |
| Category | Open-ended equity scheme investing in large-cap and mid-cap stocks |
| Allotment date | 9 July 2010 |
| Benchmark | Nifty Large Midcap 250 TRI |
| Monthly average AUM | ₹44,484.245 crore |
| Base expense ratio, regular | 1.27%, excluding statutory levies |
| Base expense ratio, direct | 0.50%, excluding statutory levies |
| Riskometer | Very High |
Large-and-Mid-Cap Mandate and Portfolio Construction
The official scheme page describes a 35% to 65% range in large-cap companies and a 35% to 65% range in mid-cap companies. Large-cap companies are the first 100 companies by full market capitalisation, while mid-cap companies are those ranked 101 to 250 under the applicable SEBI/AMFI classification. The regulatory category requires at least 35% in large-cap equity and at least 35% in mid-cap equity. The remaining allocation can be managed within the SID and regulatory limits.
This split creates a different risk mix from a pure large-cap fund or a flexi-cap fund. Large companies may have more established businesses and liquidity, but they still face valuation, earnings, governance and sector risks. Mid-cap holdings can offer a wider growth opportunity set but may experience sharper price moves, lower liquidity and larger drawdowns. The benchmark combines both market-cap segments; it is a comparison index, not a guaranteed return or portfolio replication target.
Fund management and portfolio evidence
The September 2026 factsheet names Neelesh Surana and Ankit Jain as fund managers. The AMC’s current scheme page reports 69 holdings, with the top five representing 24% and the top 20 representing 55% at the displayed date. Those concentration figures are snapshots and can change with trades and market movement. An investor should use the latest portfolio disclosure rather than assuming that a past holding or sector weight remains current.
Minimum Investment, SIP and Transaction Choices
The official factsheet states a minimum initial application of ₹5,000 in multiples of ₹1 and an additional application amount of ₹1,000 in multiples of ₹1. The current factsheet also describes daily, monthly and quarterly SIPs with a minimum of ₹99 in multiples of ₹1, subject to a minimum number of instalments, and notes the scheme-specific treatment of fresh monthly and quarterly SIP registrations. Transaction channels can apply their own operational cut-offs, mandate requirements and permitted dates.
A purchase, switch, SIP, systematic transfer or systematic withdrawal is not merely an instruction label; it creates unit-allotment, NAV, load and tax consequences under the applicable cut-off and realisation rules. Investors should retain the time-stamped request, payment confirmation, account statement and capital-gains report. A direct-plan transaction made through an intermediary remains direct only if the transaction is actually recorded under the direct plan.
Expense Ratio and the Direct-versus-Regular Distinction
As of 30 September 2026, the factsheet shows a base expense ratio excluding statutory levies of 1.27% for the regular plan and 0.50% for the direct plan. These are dated disclosures, not permanent charges. The expense ratio is charged within the scheme’s NAV; it is not normally collected as a separate invoice from the investor. A lower direct-plan expense ratio does not remove market risk, execution errors, taxes or the need for suitability assessment.
The regular plan may include distribution expenses and commission. Whether professional assistance justifies that cost depends on services actually received and the investor’s needs; this article does not decide suitability. Investors should compare the exact plan and option on the statement, because growth and IDCW options also differ in cash-flow and tax consequences. Expense data should be refreshed from the AMC disclosure before publication or a transaction.
Exit Load, FIFO and Systematic Withdrawal Treatment
The current factsheet states a 1% exit load for redemption within one year, or 365 days, from allotment and nil after one year. It also describes a systematic-withdrawal mechanism under which 15% of allotted units can be redeemed without load on or before 365 days, with redemption beyond that limit subject to the 1% load and FIFO. Investors who have not opted for that SWP treatment face the standard 1% within-one-year rule for redemption, switch-out and STP-out.
Exit load is applied to the redemption value under the scheme terms and is separate from income tax. Each purchase or SIP instalment has its own allotment date and cost. FIFO generally identifies the earliest units as redeemed first. A switch between schemes is ordinarily treated as a redemption from one scheme and a purchase into another, even if no cash reaches the bank account.
| Transaction | Scheme-level consequence | Tax-record point |
|---|---|---|
| Fresh purchase | Units allotted at applicable NAV under cut-off rules | Preserve payment date, allotment date, units and cost. |
| SIP instalment | Each instalment is a separate purchase lot | Holding period and cost are computed lot by lot. |
| Redemption within 365 days | Generally 1% exit load, subject to current stated exceptions | Usually short-term holding period for equity-fund tax. |
| Redemption after 365 days | Exit load stated as nil | Usually long-term holding period for equity-fund tax. |
| Switch-out or STP-out | Treated as redemption for load purposes under scheme terms | Can trigger capital gains even without bank receipt. |
| IDCW distribution | Cash distribution reduces scheme value | Generally taxed at investor slab rate; TDS rules may apply. |
Equity-Oriented Mutual Fund Tax for Indian Investors
The scheme’s equity allocation is designed to meet the equity-oriented-fund framework, but tax treatment should always be confirmed for the relevant period. For transfers on or after 23 July 2024, listed equity-oriented mutual fund units held for not more than 12 months are generally short-term capital assets, and qualifying short-term gains are generally taxed at 20% plus applicable surcharge and cess. Units held for more than 12 months are generally long-term; qualifying long-term gains are generally taxed at 12.5% to the extent the aggregate eligible gains exceed the annual ₹1.25 lakh threshold, plus applicable surcharge and cess.
The exact computation depends on acquisition and transfer dates, grandfathering where relevant, capital losses, residence and taxpayer category. Exit load reduces redemption proceeds and can affect the gain computation through the actual net consideration. STT is ordinarily reflected through the mutual fund transaction mechanism for qualifying equity-oriented-fund redemptions. IDCW is not tax-free: it is generally included in the investor’s income at the applicable slab rate, with TDS where the statutory requirements are met.
A resident individual should reconcile the AMC capital-gains statement, consolidated account statement, bank receipts, AIS/TIS data and return schedules. A non-resident can face withholding, treaty and documentation rules. GST is borne by the scheme on taxable services such as management services and is reflected through scheme expenses; an investor is not charged GST on the purchase amount as though units were ordinary goods.
Riskometer, Liquidity and Suitability Limits
The scheme and its benchmark are shown in the Very High risk category. That label is consistent with substantial equity exposure and a meaningful mid-cap allocation. Risks include market decline, sector concentration, valuation compression, corporate governance events, lower mid-cap liquidity, redemption pressure, tracking divergence from the benchmark and changes in tax or regulation. The historical returns in a factsheet describe past periods and are not a promise.
Open-ended status ordinarily permits purchases and redemptions on business days subject to scheme and operational rules, but it does not guarantee a particular NAV or immediate bank credit. Exceptional market conditions, transaction cut-offs, payment failures, KYC holds, bank holidays or regulatory measures can affect processing. Suitability depends on the investor’s horizon, loss-bearing capacity, existing portfolio, liquidity needs and tax circumstances—not on the scheme’s former “Bluechip” name.
Frequently Asked Questions
Is Mirae Asset Emerging Bluechip Fund still the current name?
No. The continuing underlying scheme is now Mirae Asset Large & Midcap Fund. Official materials identify Emerging Bluechip Fund as the former name.
What is the minimum large-cap and mid-cap allocation?
The category and scheme mandate require at least 35% in large-cap stocks and at least 35% in mid-cap stocks.
What benchmark does the scheme use?
The September 2026 factsheet identifies Nifty Large Midcap 250 TRI as the scheme benchmark.
What were the September 2026 base expense ratios?
The factsheet shows 1.27% for the regular plan and 0.50% for the direct plan, excluding statutory levies. These dated figures can change.
What is the usual exit load?
The stated standard load is 1% for redemption within 365 days and nil after 365 days, subject to the current SWP-related provisions.
Does switching avoid tax?
No. A switch-out is ordinarily a redemption of the old scheme and can trigger capital gains even if the proceeds are reinvested immediately.
Is IDCW tax-free for the investor?
No. IDCW is generally taxable at the investor’s applicable rate, and statutory TDS can apply.
Does the Very High riskometer predict a loss?
No. It is a risk classification, not a forecast. It signals that equity and mid-cap exposure can produce material volatility and loss.
Key Takeaways
- Mirae Asset Emerging Bluechip Fund and Mirae Asset Large & Midcap Fund are the former and current names of the same underlying scheme.
- The mandate combines at least 35% large-cap and at least 35% mid-cap equity and uses Nifty Large Midcap 250 TRI as benchmark.
- September 2026 disclosures show ₹44,484.245 crore monthly average AUM and base expense ratios of 1.27% regular and 0.50% direct.
- The usual exit load is 1% within 365 days and nil thereafter, with current SWP-specific provisions.
- Tax depends on lot-level holding period, capital-gains rules, IDCW treatment and investor-specific facts.
*****
Disclaimer: This article is a general educational review of Mirae Asset Large & Midcap Fund, formerly Mirae Asset Emerging Bluechip Fund, based on official materials checked on 28 October 2026, including data stated as of 30 September 2026. It is not investment, legal, tax, accounting or financial-planning advice and is not an offer, solicitation, ranking, recommendation or prediction. Mutual fund scheme names, portfolios, AUM, expense ratios, fund managers, transaction minimums, loads, riskometers, benchmarks, tax rules and operational procedures can change after the dates stated. Past performance, historical NAV and portfolio information do not assure or indicate future returns. The scheme can suffer loss, including from equity-market movements, mid-cap liquidity, valuation, concentration, governance, operational, regulatory and tax risks. The correct tax and suitability result depends on reader-specific facts including residence, investor category, acquisition date, unit lot, option, plan, holding period, capital losses, other gains, cash-flow needs, risk capacity and existing portfolio. Investors should read the latest SID, KIM, addenda, factsheet, statement and tax law, verify the exact plan and option, and consult SEBI-registered investment, legal and tax professionals where appropriate before transacting. TaxGuru accepts no responsibility for loss, tax, load, processing delay, unsuitable allocation, data change, interpretation error or any other consequence arising from reliance on this article or on a source that is later amended.
