Mirae Asset Mutual Fund

Annual Report 2017-18 (Abridged)

Board of Directors Asset Management Company:
Mirae Asset Trustee Company Private Limited Mirae Asset Global Investments (India) Private Limited
Registered & Corporate Office:
Mr. V. B. Haribhakti Chairman Unit No.606, Windsor Building,
Off. C.S.T. Road, Kalina, Santacruz (East),
Mr. S. T. Gerela Director (Independent) Mumbai - 400 098
Mr. K. Ramasubramanian Director (Independent) CIN: U65993MH2006FTC165663

Mr. M. L. Soneji Director (Independent)

Custodian:
Mirae Asset Global Investments (India)
M/s. Deutsche Bank AG
Private Limited
Block 1, Nirlon Knowledge Park,
Mr. Yogesh Chadha Director (Independent) Off Western Express Highway,
Goregaon (East) , Mumbai - 400 063, India.
Mr. Ananth Narayan Additional Director (Independent)
Gopalakrishnan w.e.f May 29, 2018
Statutory Auditor:
Mr. Swarup Mohanty Director & CEO (Associate)
M/s. Chokshi & Chokshi LLP
Mr. Junyoung Hong Director (Associate) 15/17, Raghavji ‘B’ Bldg.,
Gowalia Tank, Off. Kemps Corner,
*Mr. B. N. Chakraborty ceased to be an Independent Director Mumbai - 400 036.
w.e.f February 21, 2018.

Registrar & Transfer Agent:

Sponsor: Karvy Computershare Private Limited
Mirae Asset Global Investments Company Limited Karvy Selenium, Tower-B, Plot No. 31 & 32,
Financial District, Nankramguda,
Registered office:
Serilingampally Mandal, Ranga Reddy District,
13F, Tower 1, 33, Jong-ro, Hyderabad - 500 032, India.
Jongno-gu, Seoul - 03159
Republic of Korea

Trustee:
Mirae Asset Trustee Company Private Limited
Registered Office: Unit No.606, Windsor Building, Off. C.S.T. Road, Kalina, Santacruz (East) , Mumbai - 400 098
CIN: U65191MH2007FTC170231

THE AMC BRANCH OFFICES:

OFFICIAL POINT OF Acceptance OF TRANSACTIONS (OPAT): l Ahmedabad - 201, 2nd Floor, Abhijeet-I, Mithakhali Circle, Near HDFC Bank,
Ahmedabad - 380 009. Tel-079-44227777. l Bangalore - Unit Nos. 308, 2nd Floor, Prestige Meridian-II, No.30, M.G. Road, Bangalore - 560 001. Tel-080-44227777.
l Chandigarh - SCO 333-334, F. F. Sector 35-B, Chandigarh - 160 031. Tel. 98780 03820 / 0172-5030688. l Chennai - Premises No. 206, Challa Mall, 11-
11A, Sir Theyagaraya Road, T. Nagar, Chennai - 600 017. Tel-044-44227777. l Jaipur-322, Ganpati Plaza, M I Road, Jaipur - 302 001.Tel: 9828866622.
l Kanpur - 1st Floor, Shop No.111, KAN Chambers, 14/113, Civil Lines, Kanpur, Uttar Pradesh - 208001. Tel-0512-6510007.l Kolkata-Krishna Building, Room
No.510, 5th Floor, 224 A J C Bose Road, Beck Bagan Junction, Kolkata - 700017. Tel-033-44227777. l Mumbai (Corporate Office) - Unit No. 606, 6th Floor,
Windsor Bldg., Off. CST Road, Kalina, Santacruz (E), Mumbai - 400 098. Tel-022-67800300. l New Delhi-Office No.1010, 10th Floor, Indraprakash Building,
21 Barakhamaba Road, Connaught Place, New Delhi - 110001. Tel-011-44227777. l Pune-74, 4th Floor, Sreenath Plaza, Dnyaneshwar Paduka Chowk,
F C Road, Shivaji Nagar, Pune - 411005. Tel-020-40177300. l Secunderabad - No. 208, Legend Crystal Building, 2nd Floor, P.G. Road, Secunderabad - 500 003.
NON OPAT BRANCHES: l Lucknow - Office No. 308, 3rd Floor, Saran Chamber-II, 5, Park Road, Lucknow - 226 001. l Bhubaneswar - Office No. 202,
2nd Floor, Janpath Tower, Ashok Nagar, Bhubaneswar - 751 009. Tel-9778673901
Dear Investor,

Mirae Asset Mutual Fund completed a very important milestone this year, as it completed 10 years of fund management in India.
The AMC has now established a stronger foothold in the Indian Mutual Fund Industry and is one of the fastest growing AMCs
in India based on the rate of AUM growth and the Industry participants are recognizing the same. I am happy to share that your
AMC’s AUM has crossed the important threshold of INR 20,000 crores (on 9th July 2018) – a growth of close to 100% (AUM was
Rs.10,769.40 crores July’2017). The journey over the last 5 years has been even more impressive with 40 times growth in AUM
(AUM was ~Rs. 500 crores on 31st July, 2013).

In the financial year 2017-2018, your AMC launched 1 debt fund Mirae Asset Short Term Fund and collected Rs. 100 crores in the
NFO. This will help enhance the fixed income offering and provide investors a suitable product to ride the interest rate volatility. Your
AMC also launched Mirae Asset Healthcare Fund in June 2018, and collected Rs.182 crores in the NFO with more than 15,000
investor folios. We will keep enhancing the product offering with more products this financial year. Your AMC had also changed the
fundamental attributes of Mirae Asset Great Consumer Fund, Mirae Asset Emerging Bluechip Fund, Mirae Asset Prudence Fund
(currently known as Mirae Asset Hybrid Equity Fund) and Mirae Asset Savings Fund, based on the latest SEBI categorization. In
an important decision your AMC stopped further SIP subscription for Mirae Asset Emerging Bluechip Fund to only 1 day (10th of
every month) and capped at Rs. 25,000 per investor, to protect the interest of existing investors.

We are happy to share that your AMC has witnessed a significant surge in the number of new clients with the investor folios crossing
10,00,000 (with close to 5,00,000 SIP investors). The SIP flows have also grown significantly. Thus have grown from Rs. 29 crores
in March 2016 to Rs. 115 crores in May 2017 and now stands at a monthly inflows in excess of Rs. 250 crores in May 2018. This
shows our growing trust amongst our investors. We are committed to follow the Core Value of “Client First”. The fund house continues
its endeavor to generate risk adjusted performance for its investors and also declare dividends under its various equity schemes.

We have enhanced our online transaction through the website to make it user friendly and provide ease of navigation. We are
now offering Online SIP registration (through Mirae Asset I-SIP), E-KYC from which first time investors can also transact in Mutual
Funds. First time Investors can also transact online on our website. Investors can update their contact details, check unclaimed
dividend and redemption status. We continue to update our investors on our funds, markets and important events through the
website and emails and also share insightful articles on investor education through our Mirae Asset Knowledge Academy. We also
started Mirae Asset DIT, through which distributors can initiate transactions on behalf of the investors. This we believe will help us
expand our distributor and investor base across the country.

We have also expanded our overseas business and the AUM of funds advised by Mirae Asset is now in excess of USD 1 billion. The
offshore business provides an alternate source of business for the AMC. Mirae Asset has also set up a Category II AIF (Alternate
Investment Fund) which will provide credit to residential real estate sector. Our goal in the long term is to become one of the major
players in the Indian Mutual Fund Industry with a complete product basket across asset classes and deliver risk adjusted returns
to our investors.

We would like to thank you for investing in our funds and wish you very happy investing in the future.

Thanking you,

Swarup Mohanty
CEO - Mirae Asset Global Investments (India) Pvt. Ltd.
 TRUSTEE REPORT OF
MIRAE ASSET MUTUAL FUND FOR THE YEAR ENDED MARCH 31, 2018

Dear Unit holder,

The Trustee Company presents its Eleventh report and the audited financial statements of the Schemes of Mirae Asset Mutual Fund (the “Fund”), for the year
ended March 31, 2018.

MIRAE ASSET MUTUAL FUND

Mirae Asset Mutual Fund completed a very important milestone this year, as it completed 10 years of fund management in India. The AMC has now established
a stronger foothold in the Indian Mutual Fund Industry and is one of the fastest growing AMCs in India based on the rate of AUM growth. The AMC’s AUM
has crossed the important threshold of INR 20,000 crores (on 9th July 2018) – a growth of close to 100% (since last July’2017). The journey over the last 5
years has been even more impressive with 40 times growth in AUM (AUM was ~Rs. 500 crores on 31st July, 2013). We are happy to share that your AMC
has witnessed a significant surge in the number of new clients with the investor folios crossing 10,00,000 (with close to 5,00,000 SIP investors). The SIP
flows have also grown significantly and have been growing from Rs. 29 crores in March 2016 to monthly inflows in excess of Rs. 250 crores in May 2018.
This shows we are getting trust of our investors.
In the financial year 2017-2018, your AMC launched 1 debt fund: Mirae Asset Short Term Fund and also launched Mirae Asset Healthcare Fund, an open
ended equity scheme investing in healthcare and allied sectors in June 2018. As on date, the AMC managed 10 schemes of Mirae Asset Mutual Fund. The
break-up of the schemes are 6 open-ended equity schemes including 1 ELSS & 4 open-ended liquid/ debt schemes.
We have enhanced our online transaction through the website to make it user friendly and provide ease of navigation. We are now offering Online SIP
registration (through Mirae Asset I-SIP), E-KYC from which first time investors can also transact in Mutual Funds. Investors can update their contact details,
check unclaimed dividend and redemption status. We continue to update our investors on our funds, markets and important events through the website and
emails and also share insightful articles on investor education through our Mirae Asset Knowledge Academy. We also started Mirae Asset DIT, through which
distributors can initiate transactions on behalf of the investors. This we believe will help us expand our distributor and investor base across the country.
Our goal in the long term is to become one of major players in the Indian Mutual Fund Industry with a complete product basket across asset classes and
deliver risk adjusted returns to our investors.
Scheme Performance, Future Outlook and Operations of the Schemes

1. PERFORMANCE AND OPERATIONS OF THE SCHEMES.

(I) Mirae Asset India Equity Fund (MAIEF), Multi Cap Fund - An open-ended equity scheme investing across large cap, mid cap, small
cap stocks
The performance of Mirae Asset India Equity Fund (erstwhile known as Mirae Asset India Opportunities Fund as on March 31, 2018 is as follows:-
Particulars Regular Plan – Growth option Direct Plan – Growth option

Compounded Annualised Growth Returns (CAGR) Scheme returns (%) S&P BSE 200 Scheme returns (%) S&P BSE 200

Since Inception 16.21% 10.41% 18.83% 13.43%

Last 1 year 12.34% 12.49% 13.13% 12.49%
Last 3 years 11.39% 9.29% 12.24% 9.29%
Last 5 years 20.66% 15.78% 21.68% 15.78%
NAV as on 31/03/2018 44.82 - 46.86
Since Inception date of the Scheme: April 04, 2008; Direct Plan was introduce on January 01, 2013

Past performance may or may not be sustained in future. The calculations of returns shall assume reinvestment of all payouts at the then prevailing
NAV. The returns shown above are compounded annualised growth returns (CAGR) and are calculated on Rs.10/- invested at inception.
For Regular Plan – Growth Option and Direct Plan – Growth Option, the Scheme has outperformed the benchmark returns over 1 year, 3 years, 5
years and since inception returns (except for Last 1 year for Regular Plan). The Scheme had slightly underperformed its benchmark on 1 year basis
majorly due to underperformance in select stocks of the portfolio in Textiles and Construction sectors. Also, the performance over 5 years and since
inception continues to be healthy.
The details of the NAV and dividend declared by the fund during the financial year 2017-18 are as follows:
Dividend Per Unit (Rs.)
NAV per unit (Rs.)
Scheme Description
March 31, 2018
INDIVIDUAL NON INDIVIDUAL

Mirae Asset India Equity Fund - Regular - Dividend Plan 17.431 3.7 3.7
Mirae Asset India Equity Fund - Regular - Growth Plan 44.815 NA NA
Mirae Asset India Equity Fund - Direct - Dividend Plan 32.957 NIL NIL
Mirae Asset India Equity Fund - Direct - Growth Plan 46.858 NA NA

NA – Not Applicable
The Scheme aims to maximize the long term capital appreciation by finding investment opportunities resulting from Indian economic growth and its
structural shifts through investing in equities, equities related securities with risk mitigating and controlling measures.
The net assets of Mirae Asset India Equity Fund stood at Rs. 6,775.38 Crores as at March 31, 2018 as against Rs. 3,409.78 Crores as at March 31,
2017 and out of the total net assets as on March 31, 2018, 97.02 % was invested in equity shares and balance in CBLO and Others.
The Scheme has flexibility to invest between 65% to 100% of its net asset in Indian Equities and Equity Related Securities and upto 35% of its net
assets in Money market instruments/debt securities Instruments (Including upto 25% of corpus in securitized debt). The exact mix of equity and debt
is a function of equity market valuation and outlook, interest rates and the outlook for the same. The scheme can invest upto 50% of Net Assets of
Scheme into equity derivatives instruments.

3
 (iI) Mirae Asset EMERGING BLUECHIP Fund (MAEBF), Large & Mid Cap Fund - An open ended equity scheme investing in both large cap
and mid cap stocks
The performance of Mirae Asset Emerging Bluechip Fund as on March 31, 2018 is as follows:-
Particulars Regular Plan – Growth option Direct Plan – Growth option

Scheme returns Nifty Free Float Scheme returns Nifty Free Float
Compounded Annualised Growth Returns (CAGR)
(%) Midcap 100 (%) Midcap 100
Since Inception 22.36% 12.53% 27.24% 16.58%
Last 1 year 11.69% 14.61% 12.50% 14.61%
Last 3 years 17.57% 12.52% 18.53% 12.52%
Last 5 years 30.24% 19.78% 31.42% 19.78%
NAV as on 31/03/2018 47.52 49.85
Since Inception date of the Scheme: July 09, 2010; Direct Plan was introduce on January 01, 2013

Past performance may or may not be sustained in future. The calculations of returns shall assume reinvestment of all payouts at the then prevailing
NAV. The returns shown above are compounded annualised growth returns (CAGR) and are calculated on Rs.10/- invested at inception.
For Regular Plan – Growth Option and Direct Plan – Growth Option, the Scheme has always outperformed the benchmark returns over 3 years, 5
years and since inception returns. The Scheme had underperformed its benchmark on 1 year basis majorly due to underperformance in select stocks
of the portfolio in Chemicals, Services, Auto and Pharmaceuticals Sector. However, the performance since inception continues to be healthy.
The details of the NAV and dividend declared by the fund during the financial year 2017-18 are as follows:
Dividend Per Unit(Rs.)
NAV per unit (Rs.)
Scheme Description
March 31, 2018
INDIVIDUAL NON INDIVIDUAL
Mirae Asset Emerging Bluechip Fund - Regular - Dividend Option 28.52 2.5 2.5
Mirae Asset Emerging Bluechip Fund - Regular - Growth Option 47.52 NA NA
Mirae Asset Emerging Bluechip Fund - Direct - Dividend Option 45.46 NIL NIL
Mirae Asset Emerging Bluechip Fund - Direct - Growth Option 49.85 NA NA

NA – Not Applicable
The investment objective of the scheme is to generate income and capital appreciation from a portfolio primarily investing in Indian equities and equity
related securities of large cap and mid cap companies at the time of investment. From time to time, the fund manager may also seek participation in
other Indian equity and equity related securities to achieve optimal Portfolio construction. The Scheme does not guarantee or assure any returns.
The net assets of Mirae Asset Emerging Bluechip Fund stood at Rs. 5,006.07 Crores as at March 31, 2018 as against Rs. 3,531.76 Crores as at
March 31, 2017 and out of the total net assets as on March 31, 2018, 98.11% of the net assets were invested in equity shares, 0.09% in MF Units
and balance in CBLO and others.
The Scheme has flexibility to invest between 35% to 65% of its net asset in Indian Equities and Equity Related Securities of companies which are
part of the top 100 stocks by market capitalization and 35% to 65% of its net assets into Indian Equities and Equity Related Securities of Mid cap
companies which are not part of the Top100 stocks but fall within Top 250 stocks by market capitalization at the time of investment and rest upto 30%
into Other Indian Equities and Equity Related Securities/ Money market instruments (including CBLO)/debt securities Instruments. The exact mix of
equity and debt is a function of equity market valuation and outlook, interest rates and the outlook for the same.

(III) Mirae Asset Hybrid equity Fund (MAhef), Aggressive Hybrid Fund - An open-ended hybrid scheme investing predominantly in equity
and equity related instruments
The performance of Mirae Asset Hybrid Equity Fund (erstwhile known as Mirae Asset Prudence Fund) as on March 31, 2018 is as follows:-
Particulars Regular Plan – Growth option Direct Plan – Growth option
Scheme returns CRISIL Balanced Scheme returns CRISIL Balanced
Compounded Annualised Growth Returns (CAGR)
(%) Fund Index (%) Fund Index
Since Inception 10.75% 9.90% 12.77% 9.90%
Last 1 year 9.15% 9.96% 11.08% 9.96%
NAV as on 31/03/2018 13.13 13.79
Since Inception date of the Scheme: July 29, 2015
Past performance may or may not be sustained in future. The calculations of returns shall assume reinvestment of all payouts at the then
prevailing NAV. The returns shown above are compounded annualised growth returns (CAGR) and are calculated on Rs.10/- invested at inception.
For Regular Plan – Growth Option and Direct Plan – Growth Option, the Scheme has outperformed the benchmark since inception. The Scheme
has underperformed its benchmark in 1 year period (Regular option) majorly due to underperformance in select stocks of the portfolio in the sectors
of Petroleum Products, Pharmaceuticals and Services.
The details of the NAV and dividend declared by the fund during the financial year 2017-18 are as follows:
Scheme Description NAV per unit (Rs.) Dividend Per Unit (Rs.)
March 31, 2018
INDIVIDUAL NON INDIVIDUAL
Mirae Asset Hybrid Equity Fund - Regular - Dividend Option 12.169 0.66 0.66
Mirae Asset Hybrid Equity Fund - Regular - Growth Option 13.128 NA NA
Mirae Asset Hybrid Equity Fund - Direct - Dividend Option 12.763 0.70 0.70
Mirae Asset Hybrid Equity Fund - Direct - Growth Option 13.788 NA NA
NA – Not Applicable.

4
 The investment objective of the Scheme is to generate capital appreciation along with current income from a combined portfolio of predominantly investing
in equity & equity related instruments and balance in debt and money market instruments. The Scheme does not guarantee or assure any returns.
The net assets of Mirae Asset Hybrid Equity Fund stood at Rs. 1,109.50 Crores as at March 31, 2018 as against Rs. 459.58 Crores as at March 31,
2017 and out of the total net assets as on March 31, 2018, 72.72 % was invested in equity shares, 26.01% in Debt and Money market instruments
and balance in CBLO.
The Scheme has flexibility to invest between 65% to 80% of its net asset in Equities and Equity Related Securities and 20%-35% shall be invested
in Debt & Money Market Instruments. The exact mix of equity and debt is a function of equity market valuation and outlook, interest rates and the
outlook for the same.
(IV) Mirae Asset TAX SAVER Fund (MATSF), ELSS - An open ended equity linked saving scheme with a statutory lock in of 3 years and tax
benefit.
The performance of Mirae Asset Tax Saver Fund as on March 31, 2018 is as follows:-
Particulars Regular Plan – Growth option Direct Plan – Growth option
Scheme returns Scheme returns
Compounded Annualised Growth Returns (CAGR) S&PBSE 200 S&PBSE 200
(%) (%)
Since Inception 21.90% 14.57% 23.40% 14.45%
Last 1 year 16.14% 12.49% 17.53% 12.49%
NAV as on 31/03/2018 15.61 16.11
Since Inception date of the Scheme: December 28, 2015
Past performance may or may not be sustained in future. The calculations of returns shall assume reinvestment of all payouts at the then prevailing
NAV. The returns shown above are compounded annualised growth returns (CAGR) and are calculated on Rs.10/- invested at inception.
For Regular Plan – Growth Option and Direct Plan – Growth Option, the Scheme has outperformed the benchmark returns since inception as well
as in the last one year. The Scheme had outperformed its benchmark on majorly due to better Stock picking in Cement, Auto and Consumer Non
Durables sectors.
The details of the NAV and dividend declared by the fund during the financial year 2017-18 are as follows:

NAV per unit (Rs.) Dividend Per Unit (Rs.)

Scheme Description
March 31, 2018 INDIVIDUAL NON INDIVIDUAL
Mirae Asset Tax Saver Fund - Regular Plan - Growth Option 13.621 NA NA
Mirae Asset Tax Saver Fund - Regular Plan - Dividend Option 13.055 1.25 1.25
Mirae Asset Tax Saver Fund - Direct Plan - Dividend Option 13.314 1.25 1.25
Mirae Asset Tax Saver Fund - Direct Plan - Growth Option 13.891 NA NA
NA – Not Applicable
The investment objective of the scheme is to generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity
related instruments. The Scheme does not guarantee or assure any returns.
The net assets of Mirae Asset Tax Saver Fund stood at Rs. 904.75 Crores as on March 31, 2018 as against Rs. 322.12 Crores as at March 31, 2017
and out of the total net assets as on March 31, 2018, 95.71 % was invested in equity shares and balance in CBLO and others.
The Scheme has flexibility to invest between 80% to 100% of its net asset in Equities and Equity Related Securities and upto 20% of its net assets
in Debt Instruments, Money Market Instruments, G-Secs, Cash, CBLO, Reverse Repo, etc. The exact mix of equity and debt is a function of equity
market valuation and outlook, interest rates and the outlook for the same.
(V) Mirae Asset Great Consumer Fund (MAGCF), Sectoral/Thematic Fund - An open ended equity scheme following consumption theme
The performance of Mirae Asset Great Consumer Fund as on March 31, 2018 is as follows:-
Particulars Regular Plan – Growth option Direct Plan – Growth option
Compounded Annualised Growth Returns (CAGR) Scheme returns S&P BSE 200 Scheme returns S&P BSE 200
(%) (%)
Since Inception 17.91% 11.16% 18.97% 13.43%
Last 1 year 23.77% 12.49% 25.39% 12.49%
Last 3 years 12.34% 9.29% 13.83% 9.29%
Last 5 years 20.76% 15.78% 22.26% 15.78%
NAV as on 31/03/2018 31.72 33.82
Inception date of the Scheme: March 29, 2011; Direct Plan was introduce on January 01, 2013
Past performance may or may not be sustained in future. The calculations of returns shall assume reinvestment of all payouts at the then prevailing
NAV. The returns shown above are compounded annualised growth returns (CAGR) and are calculated on Rs.10/- invested at inception.
For Regular Plan – Growth Option and Direct Plan – Growth Option, the Scheme has outperformed the benchmark returns over 1 year, 3 years, 5
years and since inception returns. The out-performance is majorly due to Stock Selection in non durables.
The details of the NAV and dividend declared by the fund during the financial year 2017-18 are as follows:

NAV per unit (Rs.) Dividend Per Unit (Rs.)

Scheme Description
March 31, 2018 INDIVIDUAL NON INDIVIDUAL
Mirae Asset Great Consumer Fund- Regular - Dividend Option 16.183 1.70 1.70
Mirae Asset Great Consumer Fund- Regular - Growth Option 31.715 NA NA
Mirae Asset Great Consumer Fund- Direct - Dividend Option 31.894 2.00 2.00
Mirae Asset Great Consumer Fund- Direct - Growth Option 33.818 NA NA

NA – Not Applicable

5
 The investment objective of the scheme is to generate long term capital appreciation by investing in a portfolio of companies/funds that are likely to
benefit either directly or indirectly from consumption led demand in India. The Scheme does not guarantee or assure any returns.
The net assets of Mirae Asset Great Consumer Fund stood at Rs. 286.38 Crores as at March 31, 2018 as against Rs. 62.45 Crores as at March 31,
2017 and out of the total net assets as on March 31, 2018, 92.81% of the net assets were invested in equity shares and balance in CBLO and others.
The Scheme has flexibility to invest between 80% to 100% of its net asset in Indian Equities and Equity Related Securities of companies that are likely
to benefit either directly or indirectly from consumption led demand and upto 20% of its net asset in Money market instruments (including CBLO)/
debt securities Instruments and/or units of debt/liquid schemes of domestic Mutual Funds. The exact mix of equity and debt is a function of equity
market valuation and outlook, interest rates and the outlook for the same.

(VI) MIRAE ASSET CASH MANAGEMENT FUND (MACMF), Liquid Fund - An open ended liquid scheme
The performance of Mirae Asset Cash Management Fund as on March 31, 2018 is as follows:-
Particulars Regular Plan – Growth option Direct Plan – Growth option

Compounded Annualised Growth Returns (CAGR) Scheme returns CRISIL Liquid Fund Scheme returns CRISIL Liquid Fund
(%) Index (%) Index
Since Inception 6.68% 7.45% 7.85% 8.09%
Last 1 year 6.68% 6.84% 6.78% 6.84%
Last 3 years 7.07% 7.34% 7.29% 7.34%
Last 5 years 7.67% 8.09% 7.88% 8.09%
NAV as on 31/03/2018 1813.70 1832.32
Since Inception date of the Scheme: January 12, 2009; Direct Plan was introduce on January 01, 2013

Past performance may or may not be sustained in future. The calculations of returns shall assume reinvestment of all payouts at the then prevailing
NAV. The returns shown above are compounded annualised growth returns (CAGR) and are calculated on Rs.1000/- invested at inception.
For Regular Plan – Growth Option and Direct Plan – Growth Option, the Scheme has marginally underperformed the benchmark over 1 year, 3
years, 5 years and since inception returns. The Scheme underperformed its benchmark due to Underweight on high yielding Commercial Papers
and Overweight on Certificate of Deposits, however the fund’s credit quality is better than the benchmark.
The scheme is meant for investors to deploy their funds for a short period of time. The intention is to offer superior returns at lower level of risk while
maintaining the liquidity profile.
The details of the NAV and dividend declared by the fund during the financial year 2017-18 are as follows:
Dividend Per Unit (Rs.)
NAV per unit (Rs.)
Scheme Description
March 31, 2018
INDIVIDUAL NON INDIVIDUAL
Mirae Asset Cash Management Fund - Regular - Daily Dividend Plan 1066.4347 48.28 44.73
Mirae Asset Cash Management Fund - Regular - Weekly Dividend Plan 1152.5501 52.76 48.88
Mirae Asset Cash Management Fund - Regular - Monthly Dividend 1153.1888 52.90 49.01
Mirae Asset Cash Management Fund - Regular - Growth 1813.6955 NA NA
Mirae Asset Cash Management Fund - Direct - Daily Dividend 1075.8332 49.30 50.12139289
Mirae Asset Cash Management Fund - Direct - Growth 1832.3174 NA NA
Mirae Asset Cash Management Fund - Direct - Weekly Dividend 1216.2089 54.53 50.52
Mirae Asset Cash Management Fund - Direct - Direct Monthly Dividend 1135.5376 22.89 21.21

The investment objective of the scheme is to generate consistent returns with a high level of liquidity in a judicious portfolio mix comprising of money
market and debt instruments. The Scheme does not guarantee any returns.
The net assets of Mirae Asset Cash Management Fund stood at Rs. 2,733.27 Crores as at March 31, 2018 as against Rs. 245.65 Crores as at March
31, 2017 and out of the total net assets as on March 31, 2018, 99.37 % of the net assets were invested in money market instruments and balance
in CBLO and others.
The Scheme has flexibility to invest of its net asset in Money Market Instruments and Debt Instruments with residual maturity up to 91 days.
(VII) MIRAE ASSET SAVINGS FUND (MASF), Low Duration Fund - An Open ended low duration Debt Scheme investing in instruments with Macaulay
duration of the portfolio between 6 months and 12 months (please refer to page no. 20 of SID)
The performance of Mirae Asset Savings Fund as on March 31, 2018 is as follows:-
Particulars Regular Plan – Growth option Direct Plan – Growth option

Scheme returns CRISIL Liquid Fund Scheme returns CRISIL Liquid Fund
Compounded Annualised Growth Returns (CAGR)
(%) Index (%) Index
Since Inception 7.26% 8.08% 7.90% 8.09%
Last 1 year 5.81% 6.79% 6.59% 6.79%
Last 3 years 6.48% 7.32% 7.32% 7.32%
NAV as on 31/03/2018 1496.98 1556.93
Since Inception date of the Scheme: March 05, 2008; Direct Plan was introduce on January 01, 2013

Past performance may or may not be sustained in future. The calculations of returns shall assume reinvestment of all payouts at the then prevailing
NAV. The returns shown above are compounded annualised growth returns (CAGR) and are calculated on Rs.1000/- invested at inception.
For Regular Plan – Growth Option and Direct Plan – Growth Option, the Scheme has marginally underperformed the benchmark over 1 year, 3 years,
5 years and since inception returns. The Scheme underperformed its benchmark in the 1 year period as it had lower average maturity and due to
Underweight on high yielding debt papers, however the fund’s credit quality is better than the benchmark.

6
 The investment objective of the scheme is to seek to generate returns with a portfolio comprising of debt and money market instruments, such that
Macaulay duration of the portfolio is between 6 months – 12 months. The Scheme does not guarantee any returns.
The details of the NAV and dividend declared by the fund during the financial year 2017-18 are as follows:
Dividend Per Unit(Rs.)
NAV per unit (Rs.)
Scheme Description
March 31, 2018
INDIVIDUAL NON INDIVIDUAL
Mirae Asset Savings Fund - Regular Savings - Growth Option 1496.9789 NA NA
Mirae Asset Savings Fund - Regular Savings - Dividend Plan (Quarterly) 1034.2456 55.96 51.85
Mirae Asset Savings Fund - Regular Savings - Monthly Dividend 1099.698 41.59 38.54
Mirae Asset Savings Fund - Regular Savings - Weekly Dividend 1118.5252 43.41 40.22
Mirae Asset Savings Fund - Regular Savings - Daily Dividend 1017.7214 40.78 37.78
Mirae Asset Savings Fund - Direct - Growth 1556.9346 NA NA
Mirae Asset Savings Fund - Direct - Quarterly Dividend 1056.4201 63.11 58.47
Mirae Asset Savings Fund - Direct - Daily Dividend 1224.0164 53.93 49.96
Mirae Asset Savings Fund - Direct - Weekly Dividend 1469.877 25.28 23.42
Mirae Asset Savings Fund - Direct - Monthly Dividend 1172.808 19.23 17.81

The net assets of Mirae Asset Savings Fund stood at Rs. 370.04 Crores as at March 31, 2018 as against Rs. 242.45 Crores as at March 31, 2017
and out of the total net assets as on March 31, 2018, 68.39% of the net assets were invested in Debt Securities and balance in CBLO and others.
The Scheme has flexibility to invest upto 100% of its net asset in Money Market Instruments and Debt Instruments such that the Macaulay duration
of the portfolio is between 6 months and 12m months.
(VIII) MIRAE ASSET DYNAMIC BOND FUND (MADBF), Dynamic Bond Fund - An Open-ended dynamic debt scheme investing across duration
Mirae Asset Dynamic Bond Fund (MADBF), an open-ended income scheme, was launched by the AMC on March 24, 2017.
Particulars Regular Plan – Growth option Direct Plan – Growth option

Compounded Annualised Growth Returns (CAGR) Scheme returns CRISIL Composite Scheme returns CRISIL Composite
(%) Bond Fund Index (%) Bond Fund Index
Since Inception 3.38% 5.60% 4.35% 5.60%
Last 1 year 2.78% 5.06% 4.34% 5.06%
NAV as on 31/03/2018 10.34 10.49

The objective of the Scheme is to generate optimal returns through active management of a portfolio of debt and money market instruments. However,
there is no assurance that the investment objective of the Scheme will be realized and the Scheme does not assure or guarantee any returns. The
Scheme has underperformed the benchmark for the past 1 year and since inception primarily due to unfavorable yield curve change movement.
The details of the NAV and dividend declared by the fund during the financial year 2017-18 are as follows:
Dividend Per Unit (Rs.)
NAV per unit (Rs.)
Scheme Description
March 31, 2018
INDIVIDUAL NON INDIVIDUAL
Mirae Asset Dynamic Bond Fund - Regular Plan - Growth Option 10.3412 NIL NIL
Mirae Asset Dynamic Bond Fund - Regular Plan - Dividend Option 10.3412 NIL NIL
Mirae Asset Dynamic Bond Fund - Direct Plan - Dividend Option 10.4943 NIL NIL
Mirae Asset Dynamic Bond Fund - Direct Plan - Growth Option 10.4943 NIL NIL

The net assets of Mirae Asset Dynamic Bond Fund stood at Rs. 54.67 Crores as at March 31, 2018 as against Rs. 51.91 Crores as at March 31,
2017 and out of the total net assets as on March 31, 2018, 100.00% of the net assets were invested in money market instruments, Bond and CBLO.
The Scheme has flexibility to invest between 0% to 100% of its net asset in Money Market Instruments and Debt Instruments.
(IX) MIRAE ASSET SHORT TERM FUND (MASTF)*, Short Duration Fund - An open ended short term debt scheme investing in instruments such that
the Macaulay duration of the portfolio is between 1 year to 3 years (please refer to page no. 24 of SID)
Mirae Asset Short Term Fund (MASTF), Short Duration Fund - An open ended short term debt scheme investing in instruments such that the Macaulay
duration of the portfolio is between 1 year to 3 years (please refer to page no. 24 of SID) was re-opened for sale & re-purchase by the AMC on March
19, 2018.
(X) MIRAE ASSET HEALTHCARE FUND (MAHF)*, an open ended equity scheme investing in healthcare and allied sectors.
Mirae Asset Healthcare Fund, An open ended equity scheme investing in healthcare and allied sectors was re-opened for sale & re-purchase by the
AMC on July 03, 2018.
*Since the Schemes have not completed one year, performance of the Schemes are not given.

2. FUTURE OUTLOOK
The Mutual Fund Industry has seen robust AUM growth over the last 3 years. Average Assets Under Management (AAUM) of Indian Mutual Fund Industry
for the month of June 2018 stood at Rs. 22.86 lakh crores from 18.96 lakh crore in June 2017. In the last decade, the AUM of the Indian MF Industry has
grown 7 times. The growth over the last 2 years has been great due to robust SIP inflows. The Indian Mutual Funds have currently about 2.23 crore (22.3
million) SIP accounts through which investors regularly invest in Indian Mutual Fund schemes. AMFI data shows that the MF industry had added about
9.58 lacs SIP accounts each month on an average during the FY 2018-19, with an average SIP size of about Rs. 3,275 per SIP account. The monthly SIP
inflows are currently standing at Rs. 7,300 crores (as on May’ 2018). The corresponding numbers were 1.40 crore (14 million) SIP accounts with monthly
inflows of Rs. 4,584 crores in May’2017. AMFI has been carrying out a massive investor education campaign called “Mutual Fund Sahi Hai”, which has
caused huge visibility for Mutual Fund as a preferred investment product.

7
 The AMC has witnessed a significant surge in the number of new clients with the investor folios crossing 10,00,000 (with close to 5,00,000 SIP investors).
The SIP flows have also grown significantly and have been growing from Rs. 29 crores in March 2016 to in excess of Rs. 250 crores in May 2018. A
large no of investors have been invested with the AMC, through various digital platforms, including the AMC website. The AMC will be enhancing online
transaction website to make it user friendly and provide ease of navigation for both investors and partners.
Mirae Asset Mutual Fund is working on leveraging its global presence to raise funds from foreign investors in Mirae Asset Schemes and for providing
advisory services. With our domestic funds exhibiting robust performance track record, Mirae Asset Mutual Fund is trying to get institutional mandates as
well. AUM of funds advised by Mirae Asset is now in excess of USD 1 billion and provides, an alternate source of business for the AMC. Mirae Asset has
also set up an AIF (Alternate Investment Fund) which will provide credit to residential real estate sector. Our goal in the long term is to become one of
major players in the Indian Mutual Fund Industry with a complete product basket across asset classes and deliver risk adjusted returns to our investors.
On the distribution front too, Mirae Asset India has taken steps and has tied-up with some of the best names in the distribution domain. The fund house
has ensured a prudent mix of distribution partners from IFAs (currently around 10,000 + IFA distributors empaneled), Banks and National distributors.
This has ensured that the distribution model is de-risked as well as equipped to take advantages of market opportunities. Both the flagship funds have
achieved important AUM milestones, which will make them qualified to be sold by many leading banks and wealth outfits, which may help in faster AUM
growth in the next financial year.

OPERATIONS AND INVESTOR SERVICES

Mirae Asset Mutual Fund (MAMF) as at March 31, 2018 offered 9 Schemes. These include 5 Equity Schemes (including 1 Equity Linked Savings Schemes),
1 Liquid Scheme and 3 Debt Schemes across 49 NAVs. The total assets under management across all these Schemes as on March 31, 2018 was
Rs. 17,329.65 Crores. The AMC operates out of 14 branches, including Mumbai as the Head office. Increased use of technology coupled with optimum
allocation and simplicity has helped us to enhance operational efficiency at MAMF. During the year, SEBI has introduced significant changes to the MF
regulations which had an impact on the industry as a whole, where MAMF aligned its processes, wherever required, to remain compliant with the said
regulations at all times.
In our continuous effort and endeavor to strengthen services and to increase the overall seamless experience of both our Investor and Distributor fraternity,
we have in this financial year engaged with a competitive service provider outsourcing the toll free service, which was earlier hosted in-house. This we
believe will aid quality timely responses and increase the efficiency of the turnaround times for query resolution.
While we have always been innovating things on our website, in terms of navigation and ease of content fetching, we have also started the Distributor
Initiated Transactions (DIT) services, which we understand will help increase the overall transaction experience of our Investors and Distributors. On the
other hand, we have also roped in MF Utilities transaction platform for the convenience of our Investor fraternity.
We have also started Goal Based SIPs for our Investor fraternity, helping them to sync their objective with their tenure and convenience. At the same
time, we are also working on numerous initiatives which will increase our communication with investors and provide them a conducive environment on
the ease of accessibility.
In terms of knowledge sharing we have been arranging Investor Awareness Programs through our partners in all our cities or presence. As part of the
program, we release investor booklets, contribute articles in financial websites and national publications to explain financial terms in a simple language
and also share related newsletters and mailers to our investors on key financial terms, every week.

3. BRIEF BACKGROUND OF THE TRUST, SPONSORS, TRUSTEE AND ASSET MANAGEMENT COMPANY
i. Sponsors:
Mirae Asset Mutual Fund is sponsored by Mirae Asset Global Investments Co. Limited, a company incorporated in South Korea. Mirae Asset Global
Investments Company Limited (MAGICL) is a part of Mirae Asset Financial Group (Mirae Asset). Mirae Asset was established in 1997 and is South
Korea’s leading independent financial services provider. With Asset Management as its core activity, Mirae Asset is engaged in a broad range of
financial services including Investment Banking, Wealth Management and Life Insurance. Other significant activities of the group include Alternate
Investment including Private Equity, Venture Capital and Real Estate.
Mirae Asset introduced the concept of mutual funds to Korea. It is the largest asset manager in Korea and is the pioneer of Systematic Investment
Plan (known as Regular Savings Plan) in Korea and over the years has emerged as the undisputed leader in Korea.
Korea’s largest equity fund manager, Mirae Asset, is now a leading investor in Asian equities, with offices in USA, UK, Canada, China, Columbia,
Korea, Taiwan, Hong Kong, Australia, Vietnam, India, Brazil and rapidly expanding to other parts of the globe. With its strong foundation in Asia and
presence in major financial markets in this region, Mirae Asset has established a leadership position in the Asia Pacific region.
The Sponsor has entrusted a sum of Rs. 1,00,000/- (Rupees one lakh) to the Trustee as the initial contribution towards the corpus of the Mutual Fund.
The Sponsor holds 100% of the paid up equity capital of the AMC.
ii. Mirae Asset Mutual Fund (MAMF):
Mirae Asset Mutual Fund (MAMF) was set up as a Trust by the Sponsor, Mirae Asset Global Investments Company Limited (MAGIC) on 11th October,
2007 with Mirae Asset Trustee Company Private Limited (“the Trustee”) as a Trustee in accordance with the provisions of the Indian Trust Act, 1882 (2
of 1882) and is duly registered under the Indian Registration Act, 1908. The Trustee has entered into an Investment Management Agreement dated
October 11, 2007 with Mirae Asset Global Investments (India) Private Limited (the AMC) to function as the Investment Manager for all the Schemes
of MAMF. MAMF was registered with SEBI on 30th November, 2007 vide Registration No. MF/055/07/03.
iii. Mirae Asset Trustee Company Private Limited:
Mirae Asset Trustee Company Private Limited (the Trustee) is the exclusive owner of the Trust Fund and holds the same in trust for the benefit of
the unitholders. The Trustee through its Board of Directors shall discharge its obligations as trustee of Mirae Asset Mutual Fund as provided in the
Regulations and the Trust Deed. The Trustees shall ensure that the transactions entered into by the AMC are in accordance with the SEBI Regulations
and will also review the activities carried on by the AMC.
Mirae Asset Trustee Company Private Limited is registered under the Companies Act, 1956 and was incorporated on April 23, 2007. The Sponsors
have executed a Trust Deed on October 11, 2007 appointing Mirae Asset Trustee Company Private Limited as Trustee of Mirae Asset Mutual Fund.
The Trustee seeks to ensure that MAMF and the Schemes floated thereunder are managed by the Mirae Asset Global Investments (India) Private
Limited in accordance with the Trust Deed, the Regulations, directions and guidelines issued by the SEBI, the Stock Exchanges, the Association of
Mutual Funds in India and other regulatory agencies.

8
 Share Capital:
During the year under review, there has been no change in the equity shareholding pattern of Mirae Asset Trustee Company Private Limited. The
shareholding pattern of Mirae Asset Trustee Company Private Limited:
Sr. Shareholder’s Name Paid-up capital in Number of shares % of
No. Rs. (Equity Shares (Equity Shares of Shareholding
of Rs.10/- each) Rs.10/- each)

i. Mirae Asset Global Investments Co. Ltd. (MAGI), Korea. (Sponsor) 99980 9998 99.98

ii. Mr. Jisang Yoo (Nominee shareholder of MAGI) 10 1 0.01

iii. Mr. Mi Seob Kim 10 1 0.01

TOTAL 100,000 10,000 100.00

Change in Composition of Board Members:

During the year under review, there has been no change in the composition of the Board of Directors of the Trustee. Securities and Exchange
Board of India (Mutual Funds) Regulations, 1996 requires that the Board of Trustee Company shall comprise of two-thirds of the Directors who are
not associated in any manner with the Sponsors. Further, none of the Directors on the Board of Mirae Asset Trustee Company Private Limited are
associated with the Sponsors of Mirae Asset Mutual Fund.
iv. Mirae Asset Global Investments (India) Private Limited:
Mirae Asset Global Investments (India) Private Limited, a company registered under the Companies Act, 1956 and having its registered office at
Unit 606, 6th Floor, Windsor, off CST Road, Kalina, Santacruz (E), Mumbai – 400 098. Mirae Asset Global Investments (India) Private Limited has
been appointed as the Asset Management Company (AMC) of Mirae Asset Mutual Fund by the Trustee vide Investment Management Agreement
(“IMA”) dated October 11, 2007 entered into between Mirae Asset Trustee Company Private Limited and Mirae Asset Global Investments (India)
Private Limited. The Investment Manager was approved by SEBI to act as the AMC for the Fund vide letter no. IMD/HSV/OTW/109716/2007 dated
30th November, 2007. The AMC also provide non-binding Advisory services to group companies operating offshore funds domiciled in Korea and
Hongkong.
Share Capital:
During the year under review, there has been no change in the equity shareholding pattern of Mirae Asset Global Investments (India) Private Limited.
The shareholding pattern of the Mirae Asset Global Investments (India) Private Limited as on 31st March, 2018 is as follows:
Sr. Shareholder’s Name Paid-up capital in Number of shares % of
No. Rs. (Equity Shares (Equity Shares of Shareholding
of Rs.10/- each) Rs.10/- each)

1 Mirae Asset Global Investments Co. Ltd. (MAGI), Korea. (Sponsor) 2,031,885,390 203,188,539 100.00

2 Mr. Jisang Yoo (Nominee shareholder of MAGI) 10 1 0.00#

TOTAL 2,031,885,400 203,188,540 100.00

#
less than 0.00%
Change in Composition of Board Members:
During the year under review, Mr. B. N. Chakraborty ceased to be an Independent Director w.e.f February 21, 2018 and Mr. Ananth Narayan
Gopalakrishnan was appointed as an Additional Director (Independent) w.e.f May 29, 2018 on the Board of the AMC.
As required under the provisions of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, 50% of the Directors on the
Board of the AMC are Independent Directors who are not an associate of or associated in any manner with the sponsor or any of its subsidiaries or
the Trustee Company.

4. INVESTMENT OBJECTIVE OF THE SCHEMES:

i. Mirae Asset India Equity Fund:
The investment objective of the scheme is to generate long term capital appreciation by capitalizing on potential investment opportunities through
predominantly investing in equities, equity related securities. The Scheme does not guarantee or assure any returns.
ii. Mirae Asset Emerging Bluechip Fund:
The investment objective of the scheme is to generate income and capital appreciation from a portfolio primarily investing in Indian equities and equity
related securities of large cap and mid cap companies at the time of investment. From time to time, the fund manager may also seek participation in
other Indian equity and equity related securities to achieve optimal Portfolio construction. The Scheme does not guarantee or assure any returns.
iii. Mirae Asset Hybrid Equity Fund:
The investment objective of the Scheme is to generate capital appreciation along with current income from a combined portfolio of predominantly
investing in equity & equity related instruments and balance in debt and money market instruments. The Scheme does not guarantee or assure any
returns.
iv. Mirae Asset Tax Saver Fund:
The investment objective of the scheme is to generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity
related instruments. The Scheme does not guarantee or assure any returns.
v. Mirae Asset Great Consumer Fund:
The investment objective of the scheme is to generate long term capital appreciation by investing in a portfolio of companies/funds that are likely to
benefit either directly or indirectly from consumption led demand in India. The Scheme does not guarantee or assure any returns.

9
 vi. Mirae Asset Cash Management Fund:
The investment objective of the scheme is to generate consistent returns with a high level of liquidity in a judicious portfolio mix comprising of money
market and debt instruments. The Scheme does not guarantee any returns.
vii. Mirae Asset Savings Fund:
Low Duration Fund - An Open ended low duration Debt Scheme investing in instruments with Macaulay duration of the portfolio between 6 months
and 12 months (please refer to page no. 20 of SID)
viii. Mirae Asset Dynamic Bond Fund:
Dynamic Bond Fund - An Open-ended dynamic debt scheme investing across duration
ix. Mirae Asset Short term Fund:
Short Duration Fund - An open ended short term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 1
year to 3 years (please refer to page no. 24 of SID)
x. Mirae Asset Healthcare Fund:
The investment objective of the scheme is to seek to generate long term capital appreciation through investing in equity and equity related securities
of companies benefitting directly or indirectly in Healthcare and allied sectors in India. The Scheme does not guarantee or assure any returns.

5. SIGNIFICANT ACCOUNTING POLICIES:

The significant accounting policies form part of the notes to the Accounts annexed to the Balance Sheet of the Schemes. The Accounting Policies are in
accordance with Securities Exchange Board of India (Mutual Funds) Regulations, 1996.

6. Unclaimed Redemptions & Dividends:

The Summary of number of investors and Corresponding amount of unclaimed redemption and dividend as at March 31, 2018 is as follows:
Unclaimed Redemptions Unclaimed Dividends
Name of the Scheme
Amount (Rs.) No. of Investors Amount (Rs.) No. of Investors

Mirae Asset India Equity Fund 4,132,787.48 115 2,556,874.78 525

Mirae Asset Emerging Bluechip Fund 1,798,902.61 47 205,410.47 32

Mirae Asset Great Consumer Fund ** 917,689.08 51 31,401.89 40

Mirae Asset Savings Fund 68,259.59 6 0.00 0

Mirae Asset Cash Management Fund ** 155,267.88 22 3,897.23 2

Mirae Asset Hybrid Equity Fund 42,730.62 2 11,155.98 12

Mirae Asset Tax Saver Fund 0.00 0 3,417.54 2

** Including Merged Schemes

Details of Investor Complaints: The Fund is also prompt in redressing the complaints/requests received from the investors. The Statement on Status of
Redressal of Complaints received against Mirae Asset Mutual Fund during the financial year 2017-18 is annexed and forms part of the Trustee Report as
Annexure I. In the said statement, details of complaints on data corrections in Investor details have also been mentioned as per the AMFI Best Practice
Circular No. 135/BP/25/11-12 dated March 07, 2012.

7. ROLE OF MUTUAL FUNDS IN CORPORATE GOVERNANCE OF PUBLIC LISTED COMPANIES

In terms of the Securities and Exchange Board of India (“SEBI”) circular no. SEBI/ IMD/ CIR No. 18/198647/ 2010 dated March 15, 2010 and clarificatory
email received from SEBI on June 23, 2011, the MAMF has framed a general voting policy and procedures for exercising the voting rights in respect of
shares held by its Schemes (“Voting Policy”). The Board of Directors of Mirae Asset Trustee Company Private Limited has adopted the Voting Policy. The
Voting Policy and the auditor’s certification on the voting report for financial year 2017-18 is annexed as Annexure II and Annexure III respectively.
Further, in terms of aforementioned circular, the AMC has disclosed the details of actual exercise of proxy votes in the AGMs/ EGMs/Postal Ballot
of the investee companies (based on equity holdings as on the record date across all Schemes of the Fund) for the financial year 2017-18 in the
detailed Annual Report 2017-18 of the Schemes, displayed on website of the Fund. Also, the Voting Policy is also displayed on the website of the Fund
viz. www.miraeassetmf.co.in.

8. LIABILITY AND RESPONSIBILITY OF TRUSTEE AND SPONSORS

The main responsibility of the Trustee is to safeguard the interest of the Unitholders and inter-alia ensure that Mirae Asset Global Investments (India) Private
Limited (the AMC) functions in the interest of investors and in accordance with the Securities and Exchange Board of India (Mutual Funds) Regulations,
1996, the provisions of the Trust Deed and the Statement of Additional Information, Scheme Information Document/Offer Document of the respective
Schemes. From the information provided to the Trustee and the reviews the Trustee has undertaken, the Trustee believes the AMC has operated in the
interests of the Unitholders.
The Sponsors are not responsible or liable for any loss or shortfall resulting from the operation of the Schemes beyond the initial contribution of Rs. 1 lakh
made by them towards setting up of Mirae Asset Mutual Fund.

10
9. STATUTORY INFORMATION:
(a) The Sponsors are not responsible or liable for any loss resulting from the operation of the Schemes of the Fund beyond their initial contribution (to
the extent contributed) of Rs.1 Lakh for setting up the Fund, and such other accretions / additions to the same.
(b) The price and redemption value of the units, and income from them, can go up as well as down with fluctuations in the market value of its underlying
investments.
(c) Full Annual Report is available on the website (www.miraeassetmf.co.in) and shall be available for inspection at the Head Office of the mutual fund.
Present and prospective unit holder can obtain copy of the trust deed, the full Annual Report of the Fund / AMC at a price.

10. Acknowledgement
The Trustees thanks SEBI, AMFI, the investors, Investors Service Centers, distributors, key partners, service providers, Mirae Asset Global Investments
(India) Private Limited and its employees for their commitment and looks forward to their continued support.
Investors may note that the Full Annual Report shall be disclosed on the website (www.miraeassetmf.co.in) and shall also be available for inspection at
the Head Office of the Mutual Fund. On written request present and prospective unit holders / investors can obtain a copy of the Trust Deed, the Annual
Report at a price and the text of the relevant Scheme.
The Balance Sheet as at March 31, 2018 and the Revenue Account for the year ended March 31, 2018 for the various schemes are annexed to this
Report.

For Mirae Asset Trustee Company Private Limited

sd/- sd/-
V. B. Haribhakti S. T. Gerela
Chairman Director

Place : Mumbai
Date : July 19, 2018

11
 ANNEXURE I
Total Number of Folios: 938894

Action on (a) and (b)

(a) No. of
complaints
(b) No. of Resolved Pending
Complaint pending
Type of Complaint# Complaints
Code at the Non
received Beyond
beginning Within 30-60 60-180 Actionable* 0-3 3-6 6-9 9-12
during the 180
of the year 30 days days days months months months months
year days

Non receipt of Dividend on

IA 0 2 2 0 0 0 0 0 0 0 0
Units

Interest on delayed payment

IB 0 0 0 0 0 0 0 0 0 0 0
of Dividend

Non receipt of Redemption

IC 0 1 0 0 0 0 0 1 0 0 0
Proceeds

Interest on delayed payment

ID 0 0 0 0 0 0 0 0 0 0 0
of Redemption

Non receipt of Statement of

II A 0 8 8 0 0 0 0 1 0 0 0
Account/Unit Certificate

Discrepancy in Statement of
II B 0 3 2 0 0 0 0 0 0 0 0
Account

Data corrections in Investor

II C 0 0 0 0 0 0 0 0 0 0 0
details

Non receipt of Annual

II D 0 0 0 0 0 0 0 0 0 0 0
Report/Abridged Summary

Wrong switch between 0

III A 0 0 0 0 0 0 0 0 0 0
Schemes 00

Unauthorized switch 0
III B 0 0 0 0 0 0 0 0 0 0
between Schemes 00

Deviation from Scheme 0

III C 0 0 0 0 0 0 0 0 0 0
attributes 00

Wrong or excess charges/ 0

III D 0 0 0 0 0 0 0 0 0 0
load 00

Non updation of changes

III E viz. address, PAN, bank 0 2 2 0 0 0 0 0 0 0 0
details, nomination, etc.

IV Others* 0 58 56 0 0 0 0 0 0 0 0

Total 0 74 70 0 0 0 0 4 0 0 0

12
 Annexure II
VOTING RIGHTS POLICY OF MIRAE ASSET MUTUAL FUND
Mirae Asset Global Investments (India) Private Limited (Mirae AMC) is the asset management company for Mirae Asset Mutual Fund. In this role, Mirae AMC
has an obligation to act in the best interests of the Funds. This responsibility includes exercising the voting rights attached to securities held by the Funds. It
is the policy of Mirae AMC to exercise the voting rights of the Funds in accordance with the best interests of the Funds.
This Policy contains the principles that form the basis of all votes. Mirae AMC believes that these principles are essential to ensure the long-term performance
of assets managed by Mirae AMC. Mirae AMC will manage voting rights with the same level of care and skill as it manages the funds. In general, Mirae AMC
does not have the intention to participate directly or indirectly in the management of the companies but it will use its influence as a shareholder amongst others
by exercising its voting rights in accordance with the best interests of its funds unit holders.
The exercise of voting rights requires the ongoing review of the corporate governance and performance of management of an issuer and the consideration of
the potential impact of a vote on the value of the securities of the issuer held by the Funds. In order to discharge its obligations under this policy, Mirae AMC
accesses and utilizes research on management performance and corporate governance issues, drawn from portfolio manager and analyst due diligence,
information provided by leading independent research firms and involvement in organizations. In terms of the Securities and Exchange Board of India (“SEBI”)
Circular No. SEBI/ IMD/CIR No.18 /198647/ 2010 dated March 15, 2010 and clarificatory email received from SEBI on June 23, 2011, we have framed the
general voting policy and procedures for exercising the voting rights (“Voting Policy”). This Voting Policy shall be applicable to all equity holdings across all
our mutual fund schemes.

What Does Voting Right Mean?

Voting Right means, the right of a stockholder to vote on matters of corporate policy. Voting often involves decisions on issuing securities, initiating corporate
actions and making substantial changes in the corporation’s operations such as the election of the company’s directors, merger/amalgamations, appointment
of auditors, etc.
Equity mutual funds, and other mutual funds with an equity component, hold shares of companies. The funds are entitled to exercise the voting rights attached
to those shares. The shareholders do not necessarily need to be physically present at the site of the company’s annual meeting / extra-ordinary general meeting
in order to exercise their right to vote. It is common for shareholders to voice their vote by proxy.

Proxy Voting Guidelines

Issuers’ proxies most frequently contain proposals to elect corporate directors, to appoint external auditors and set their compensation, to adopt or amend
management compensation plans and to amend the capitalization of the company.
The Company shall exercise votes in the direction of improving the economic value of the portfolio and protecting the rights of the unitholders considering
the following factors:
1. Protecting the rights of unitholders
2. Improving operating profits
3. Raising the intrinsic value of the Company
4. Improving the Company’s governance and financial structure.
These guidelines summarize the corporate governance principles which the MAMF will generally support through the exercise of votes on these issues.
1. Boards of Directors - Mirae AMC supports resolutions that promote the effectiveness of boards in acting in the best interests of shareholders. It generally
votes in favour of the election of directors for boards having a majority of independent directors and an independent chair, where the chairs of all board
committees and at least a majority of committee members are independent.
2. Corporate governance matters - Mirae AMC support resolutions that change the state of incorporation, merger and other corporate restructuring which
are in the interest of the unitholders. However, Mirae AMC will vote against resolutions pertaining to takeover by an acquirer, etc. which are against the
interest of the unit holder.
3. Auditors and Auditor Compensation - Where all members of an issuer’s audit committee are independent, Mirae AMC will generally support the election
of directors, the appointment of auditors and the approval of the recommended auditor compensation.
4. Management Compensation - The goal of Mirae AMC is to support compensation arrangements that are tied to long-term corporate performance and
shareholder value. These arrangements should induce management to purchase and hold equity in the company to better align management’s interests
with those of shareholders. Stock option plans that are overly generous or excessively dilutive to other shareholders will not be supported.
5. Changes in Capitalization - Mirae AMC recognize the need for management of an issuer to have flexibility in the issue or buyback of shares to meet
changing financial conditions. Changes in capitalization will generally be supported where a reasonable need for the change is demonstrated; however
changes resulting in excessive dilution of existing shareholder value will not be supported.
6. Social and corporate responsibility issues - Mirae AMC recognizes the need of role of government, demands for greater disclosures, increased investor
education, environmental benefits, benefits to the community and the general public.
Other issues, including those business issues specific to the issuer or those raised by shareholders of the issuer, are addressed on a case-by-case basis
with a focus on the potential impact of the vote on shareholder value. Mirae AMC reserves the right to vote against any resolution that goes against the
interest of its unit holders.

Procedure for use of Proxy Voting Guidelines

A decision to invest in an issuer is based in part on a fund manager’s analysis of the performance of management and the corporate governance of the
issuer. Since a decision to invest is generally an endorsement of management of the issuer, Mirae AMC will generally vote with management on routine
matters. However, since a fund manager must be focused on shareholder value on an ongoing basis, it is the responsibility of the fund manager to be
aware of the potential investment implications of any issue on which security holders are asked to vote.
The Guidelines indicate the principles of corporate governance which the Funds will generally support through the exercise of proxy votes.
While Mirae AMC will generally vote the Funds’ proxies strictly in accordance with the Funds’ Proxy Voting Guidelines, there may be circumstances where
it believes it is in the best interests of a Fund to vote differently than the manner contemplated by the Guidelines. The ultimate decision as to the manner
in which the Funds’ proxies will be voted rests with Mirae AMC. The AMC shall abide by the following procedure for exercising the voting rights:
1. The Investment team shall examine and decide on AGMs/EGMs which have been submitted to its authority. If a consensus cannot be achieved, the
final voting decision will be taken by the Chief Investment Officer.
2. In the interest of the investors of the fund and in order to avoid excessive voting costs and to ensure better efficiency, the Investment team shall
analyze the Cost- Benefit analysis (CBA) between the voting costs involved in exercising voting vis-à-vis the benefit it may accrue to the investors

13
 by exercising the voting rights. Such cases for which the benefit does not outweigh the cost, the AMC shall abstain to vote. Nevertheless, it may
also decide to vote at meetings where it deems its participation important, even if the CBA is not in favour of exercising voting (i.e. in the case of a
contested AGM/EGM, etc.).
3. In most cases, the AMC exercises its funds’ voting rights by appointing an authorized agent (proxy). It may, however, if deemed necessary, be
physically present at a meeting and vote in person.
4. Authorized Officials and/ or authorized representatives of Custodian of the Fund would submit voting instructions for General Meetings where the
AMC chooses to vote i.e. either FOR or AGAINST.
5. The AMC may also abstain from voting for certain proposals of the Investee Companies depending on various criteria and judgment.

Proxy Voting Records

In this section, you can find out how voting rights were exercised on behalf of the Mirae AMC that held voting securities. Disclosure of exercise of proxy
votes in equity holdings across all schemes of the Fund shall be accessible on our website. To view records for the period from 1st April, 2010 and onwards
click here. The same would also be disclosed in the annual report from the financial year 2010-11 onwards.

Conflict of interest provision

Voting is exercised in the exclusive interest of holders. All votes are centralized, which ensures uniformity and adherence to the aforementioned principles.
The strict separation of Mirae AMC’s asset management activities from other activities within the Mirae Asset Financial Group prevents access of the asset
management company to insider and price sensitive information for which use and/or disclosure of such information could generate conflicts of interest.
The parent of the AMC is a global investment manager and has various offices around the world. Hence, the investment manager is an affiliate of many
diversified financial organization across the globe, however the investment manager is a stand-alone entity in India. Any financial transaction, where:
i) The investment is made into group companies of the AMC, or
ii) The investee companies have subscribed to the units of their schemes, may lead to conflict of interest.
Generally, the AMC shall abstain to vote for any matters connected with the above. However, the AMC will make its best efforts to avoid any conflicts and
ensure that any conflicts of interest are resolved in the best interest of the unit-holders.
Additionally, Mirae AMC has implemented an organization, procedures and appropriate controls and monitoring routines in order to prevent conflict of
interest.

Review and control process

1. On analysis of AGM/EGM resolutions, if any conflict of interest is identified with the AMC’s voting policy, then the same shall be alerted to the Chief
Investment Officer.
2. The AMC shall be responsible for maintaining records for votes cast and abstentions, proxy statements and any other relevant record in this regard.
3. All the voting rights exercised/abstentions in the previous month shall be reported to the Investment committee meeting in the next month.
4. Every record, including the voting statements, abstentions shall be retained for audit purpose.
5. The process of exercise of proxy votes as listed above shall be reviewed by the AMC, from time to time.

====x====

14
Annexure - III

15
16
 INDEPENDENT AUDITORS’ REPORT
To,
The Board of Directors of
Mirae Asset Trustee Company Private Limited
Report on the Financial Statements
We have audited the accompanying financial statements of MIRAE ASSET
MUTUAL FUND - MIRAE ASSET INDIA EQUITY FUND (ERSTWHILE MIRAE
ASSET MUTUAL FUND - MIRAE ASSET INDIA OPPORTUNITIES FUND),
MIRAE ASSET MUTUAL FUND - MIRAE ASSET EMERGING BLUECHIP FUND
(“the Scheme”), which comprise the Balance Sheet as at March 31, 2018, the
Revenue Account and the Cash Flow Statement for the period then ended, and
a summary of significant accounting policies and other explanatory information.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation of these financial statements that
give a true and fair view of the financial position and financial performance of the
Schemes in accordance with accounting principles generally accepted in India,
including the accounting policies and standards specified in the Ninth Schedule
to the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996
(‘the SEBI Regulations”). This responsibility includes the design, implementation
and maintenance of internal control relevant to the preparation and presentation
of the financial statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these financial statements based
on our audit. We have conducted our audit in accordance with the Standards on
Auditing issued by the Institute of Chartered Accountants of India. Those Standards
require that we comply with ethical requirements and plan and perform the audit
to obtain reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about the
amounts and disclosures in the financial statements. The procedures selected
depend on the auditor’s judgment, including the assessment of the risks of material
misstatement of the financial statements, whether due to fraud or error. In making
those risk assessments, the auditor considers internal control relevant to the
Scheme’s preparation and fair presentation of the financial statements in order to
design audit procedures that are appropriate in the circumstances, but not for the
purpose of expressing an opinion on effectiveness of the entity’s internal control.
An audit also includes evaluating the appropriateness of accounting policies used
and the reasonableness of the accounting estimates made by management, as
well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate
to provide a basis for our audit opinion.
Opinion
In our opinion and to the best of our information and according to the explanations
given to us, the financial statements give the information as required by the SEBI
Regulations in the manner so required and give a true and fair view in conformity
with the accounting principles generally accepted in India:
a) In case of Balance Sheet, of the state of affairs of the Schemes as at March
31, 2018.
b) In case of Revenue Account, of the Surplus of the Scheme for the period
ended on that date.
c) Cash Flow Statements of the respective schemes for the year ended on that date.
Report on Other Legal and Regulatory Requirements
1. We have obtained all the information and explanations, which to the best of
our knowledge and belief were necessary for the purposes of our audit.
2. The balance sheet and revenue account dealt with by this report are in
agreement with the books of account.
3. In our opinion, the balance sheet and revenue account dealt with by this report
have been prepared in conformity with the accounting policies and standards
specified in the Ninth Schedule to the SEBI Regulations.
4. In our opinion and on the basis of information and explanations given to us,
the methods used to value non traded securities as at March 31, 2018 are
in accordance with the SEBI Regulations and other guidelines issued by the
Securities and Exchange Board of India, as applicable, and approved by the
Board of Trustees, and fair and reasonable.
For Chokshi & Chokshi LLP
Chartered Accountants
FRN - 101872W/W100045
Sd/-
Nilesh Joshi
Partner
Membership No. 114749
Place: Mumbai
Date: 19.07.2018
INDEPENDENT AUDITORS’ REPORT
To,
The Board of Directors of
Mirae Asset Trustee Company Private Limited
Report on the Financial Statements
We have audited the accompanying financial statements of MIRAE ASSET
MUTUAL FUND - MIRAE ASSET GREAT CONSUMER FUND, MIRAE ASSET
MUTUAL FUND - MIRAE ASSET TAX SAVER FUND and MIRAE ASSET
MUTUAL FUND - MIRAE ASSET HYBRID EQUITY FUND (ERSTWHILE - MIRAE
ASSET PRUDENCE FUND) (“the Scheme”), which comprise the Balance Sheet
as at March 31, 2018, and the Revenue Account for the period then ended, and
a summary of significant accounting policies and other explanatory information.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation of these financial statements that
give a true and fair view of the financial position and financial performance of the
Schemes in accordance with accounting principles generally accepted in India,
including the accounting policies and standards specified in the Ninth Schedule
to the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996
(‘the SEBI Regulations”). This responsibility includes the design, implementation
and maintenance of internal control relevant to the preparation and presentation
of the financial statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these financial statements based
on our audit. We have conducted our audit in accordance with the Standards on
Auditing issued by the Institute of Chartered Accountants of India. Those Standards
require that we comply with ethical requirements and plan and perform the audit
to obtain reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about the
amounts and disclosures in the financial statements. The procedures selected
depend on the auditor’s judgment, including the assessment of the risks of material
misstatement of the financial statements, whether due to fraud or error. In making
those risk assessments, the auditor considers internal control relevant to the
Scheme’s preparation and fair presentation of the financial statements in order to
design audit procedures that are appropriate in the circumstances, but not for the
purpose of expressing an opinion on effectiveness of the entity’s internal control.
An audit also includes evaluating the appropriateness of accounting policies used
and the reasonableness of the accounting estimates made by management, as
well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate
to provide a basis for our audit opinion.
Opinion
In our opinion and to the best of our information and according to the explanations
given to us, the financial statements give the information as required by the SEBI
Regulations in the manner so required and give a true and fair view in conformity
with the accounting principles generally accepted in India:
a) In case of Balance Sheet, of the state of affairs of the Schemes as at March
31, 2018.
b) In case of Revenue Account, of the Surplus of the Scheme for the period
ended on that date.
Report on Other Legal and Regulatory Requirements
1. We have obtained all the information and explanations, which to the best of
our knowledge and belief were necessary for the purposes of our audit.
2. The balance sheet and revenue account dealt with by this report are in
agreement with the books of account.
3. In our opinion, the balance sheet and revenue account dealt with by this report
have been prepared in conformity with the accounting policies and standards
specified in the Ninth Schedule to the SEBI Regulations.
4. In our opinion and on the basis of information and explanations given to us,
the methods used to value non traded securities as at March 31, 2018 are
in accordance with the SEBI Regulations and other guidelines issued by the
Securities and Exchange Board of India, as applicable, and approved by the
Board of Trustees, and fair and reasonable.
For Chokshi & Chokshi LLP
Chartered Accountants
FRN - 101872W/W100045
Sd/-
Nilesh Joshi
Partner
Membership No. 114749
Place: Mumbai
Date: 19.07.2018
17
 INDEPENDENT AUDITORS’ REPORT
To,
The Board of Directors of
Mirae Asset Trustee Company Private Limited
Report on the Financial Statements
We have audited the accompanying financial statements of MIRAE ASSET
MUTUAL FUND - MIRAE ASSET CASH MANAGEMENT FUND (“the Scheme”),
which comprise the Balance Sheet as at March 31, 2018, and the Revenue Account
for the period then ended, and a summary of significant accounting policies and
other explanatory information.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation of these financial statements that
give a true and fair view of the financial position and financial performance of the
Schemes in accordance with accounting principles generally accepted in India,
including the accounting policies and standards specified in the Ninth Schedule
to the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996
(‘the SEBI Regulations”). This responsibility includes the design, implementation
and maintenance of internal control relevant to the preparation and presentation
of the financial statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these financial statements based
on our audit. We have conducted our audit in accordance with the Standards on
Auditing issued by the Institute of Chartered Accountants of India. Those Standards
require that we comply with ethical requirements and plan and perform the audit
to obtain reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about the
amounts and disclosures in the financial statements. The procedures selected
depend on the auditor’s judgment, including the assessment of the risks of material
misstatement of the financial statements, whether due to fraud or error. In making
those risk assessments, the auditor considers internal control relevant to the
Scheme’s preparation and fair presentation of the financial statements in order to
design audit procedures that are appropriate in the circumstances, but not for the
purpose of expressing an opinion on effectiveness of the entity’s internal control.
An audit also includes evaluating the appropriateness of accounting policies used
and the reasonableness of the accounting estimates made by management, as
well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate
to provide a basis for our audit opinion.
Opinion
In our opinion and to the best of our information and according to the explanations
given to us, the financial statements give the information as required by the SEBI
Regulations in the manner so required and give a true and fair view in conformity
with the accounting principles generally accepted in India:
a) In case of Balance Sheet, of the state of affairs of the Schemes as at March
31, 2018.
b) In case of Revenue Account, of the Surplus of the Scheme for the period
ended on that date.
Report on Other Legal and Regulatory Requirements
1. We have obtained all the information and explanations, which to the best of
our knowledge and belief were necessary for the purposes of our audit.
2. The balance sheet and revenue account dealt with by this report are in
agreement with the books of account.
3. In our opinion, the balance sheet and revenue account dealt with by this report
have been prepared in conformity with the accounting policies and standards
specified in the Ninth Schedule to the SEBI Regulations.
4. In our opinion and on the basis of information and explanations given to us,
the methods used to value non traded securities as at March 31, 2018 are
in accordance with the SEBI Regulations and other guidelines issued by the
Securities and Exchange Board of India, as applicable, and approved by the
Board of Trustees, and fair and reasonable.
For Chokshi & Chokshi LLP
Chartered Accountants
FRN - 101872W/W100045
Sd/-
Nilesh Joshi
Partner
Membership No. 114749
Place: Mumbai
Date: 19.07.2018
18
INDEPENDENT AUDITORS’ REPORT
To,
The Board of Directors of
Mirae Asset Trustee Company Private Limited
Report on the Financial Statements
We have audited the accompanying financial statements of MIRAE ASSET
MUTUAL FUND –MIRAE ASSET SAVINGS FUND and MIRAE ASSET MUTUAL
FUND –MIRAE ASSET DYNAMIC BOND FUND (“the Scheme”), which comprise
the Balance Sheet as at March 31, 2018, and the Revenue Account for the
period then ended, and a summary of significant accounting policies and other
explanatory information.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation of these financial statements that
give a true and fair view of the financial position and financial performance of the
Schemes in accordance with accounting principles generally accepted in India,
including the accounting policies and standards specified in the Ninth Schedule
to the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996
(‘the SEBI Regulations”). This responsibility includes the design, implementation
and maintenance of internal control relevant to the preparation and presentation
of the financial statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these financial statements based
on our audit. We have conducted our audit in accordance with the Standards on
Auditing issued by the Institute of Chartered Accountants of India. Those Standards
require that we comply with ethical requirements and plan and perform the audit
to obtain reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about the
amounts and disclosures in the financial statements. The procedures selected
depend on the auditor’s judgment, including the assessment of the risks of material
misstatement of the financial statements, whether due to fraud or error. In making
those risk assessments, the auditor considers internal control relevant to the
Scheme’s preparation and fair presentation of the financial statements in order to
design audit procedures that are appropriate in the circumstances, but not for the
purpose of expressing an opinion on effectiveness of the entity’s internal control.
An audit also includes evaluating the appropriateness of accounting policies used
and the reasonableness of the accounting estimates made by management, as
well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate
to provide a basis for our audit opinion.
Opinion
In our opinion and to the best of our information and according to the explanations
given to us, the financial statements give the information as required by the SEBI
Regulations in the manner so required and give a true and fair view in conformity
with the accounting principles generally accepted in India:
a) In case of Balance Sheet, of the state of affairs of the Schemes as at March
31, 2018.
b) In case of Revenue Account, of the Surplus of the Scheme for the period
ended on that date.
Report on Other Legal and Regulatory Requirements
1. We have obtained all the information and explanations, which to the best of
our knowledge and belief were necessary for the purposes of our audit.
2. The balance sheet and revenue account dealt with by this report are in
agreement with the books of account.
3. In our opinion, the balance sheet and revenue account dealt with by this report
have been prepared in conformity with the accounting policies and standards
specified in the Ninth Schedule to the SEBI Regulations.
4. In our opinion and on the basis of information and explanations given to us,
the methods used to value non traded securities as at March 31, 2018 are
in accordance with the SEBI Regulations and other guidelines issued by the
Securities and Exchange Board of India, as applicable, and approved by the
Board of Trustees, and fair and reasonable.
For Chokshi & Chokshi LLP
Chartered Accountants
FRN - 101872W/W100045
Sd/-
Nilesh Joshi
Partner
Membership No. 114749
Place: Mumbai
Date: 19.07.2018
 INDEPENDENT AUDITORS’ REPORT
To,
The Board of Directors of
Mirae Asset Trustee Company Private Limited
Report on the Financial Statements
We have audited the accompanying financial statements of MIRAE ASSET
MUTUAL FUND – MIRAE ASSET SHORT TERM FUND (“the Scheme”), which
comprise the Balance Sheet as at March 31, 2018, and the Revenue Account
for the period March 16, 2018 to March 31, 2018, and a summary of significant
accounting policies and other explanatory information.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation of these financial statements that
give a true and fair view of the financial position and financial performance of the
Schemes in accordance with accounting principles generally accepted in India,
including the accounting policies and standards specified in the Ninth Schedule
to the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996
(‘the SEBI Regulations”). This responsibility includes the design, implementation
and maintenance of internal control relevant to the preparation and presentation
of the financial statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these financial statements based
on our audit. We have conducted our audit in accordance with the Standards on
Auditing issued by the Institute of Chartered Accountants of India. Those Standards
require that we comply with ethical requirements and plan and perform the audit
to obtain reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about the
amounts and disclosures in the financial statements. The procedures selected
depend on the auditor’s judgment, including the assessment of the risks of material
misstatement of the financial statements, whether due to fraud or error. In making
those risk assessments, the auditor considers internal control relevant to the
Scheme’s preparation and fair presentation of the financial statements in order to
design audit procedures that are appropriate in the circumstances, but not for the
purpose of expressing an opinion on effectiveness of the entity’s internal control.
An audit also includes evaluating the appropriateness of accounting policies used
and the reasonableness of the accounting estimates made by management, as
well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate
to provide a basis for our audit opinion.
Opinion
In our opinion and to the best of our information and according to the explanations
given to us, the financial statements give the information as required by the SEBI
Regulations in the manner so required and give a true and fair view in conformity
with the accounting principles generally accepted in India:
a) In case of Balance Sheet, of the state of affairs of the Schemes as at March
31, 2018.
b) In case of Revenue Account, of the Surplus of the Scheme for the period
March 16, 2018 to March 31, 2018.
Report on Other Legal and Regulatory Requirements
1. We have obtained all the information and explanations, which to the best of
our knowledge and belief were necessary for the purposes of our audit.
2. The balance sheet and revenue account dealt with by this report are in
agreement with the books of account.
3. In our opinion, the balance sheet and revenue account dealt with by this report
have been prepared in conformity with the accounting policies and standards
specified in the Ninth Schedule to the SEBI Regulations.
4. In our opinion and on the basis of information and explanations given to us,
the methods used to value non traded securities as at March 31, 2018 are
in accordance with the SEBI Regulations and other guidelines issued by the
Securities and Exchange Board of India, as applicable, and approved by the
Board of Trustees, and fair and reasonable.
For Chokshi & Chokshi LLP
Chartered Accountants
FRN - 101872W/W100045
Sd/-
Nilesh Joshi
Partner
Membership No. 114749
Place: Mumbai
Date: 19.07.2018
INDEPENDENT AUDITORS’ REPORT
To,
The Board of Directors of
Mirae Asset Trustee Company Private Limited
Report on the Financial Statements
We have audited the accompanying financial statements of MIRAE ASSET CHINA
ADVANTAGE FUND (“the Scheme”), which comprise the Balance Sheet as at
September 14, 2017, and the Revenue Account for the period April 01, 2017 to
September 14, 2017, and a summary of significant accounting policies and other
explanatory information.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation of these financial statements that
give a true and fair view of the financial position and financial performance of the
Schemes in accordance with accounting principles generally accepted in India,
including the accounting policies and standards specified in the Ninth Schedule
to the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996
(‘the SEBI Regulations”). This responsibility includes the design, implementation
and maintenance of internal control relevant to the preparation and presentation
of the financial statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these financial statements based
on our audit. We have conducted our audit in accordance with the Standards on
Auditing issued by the Institute of Chartered Accountants of India. Those Standards
require that we comply with ethical requirements and plan and perform the audit
to obtain reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about the
amounts and disclosures in the financial statements. The procedures selected
depend on the auditor’s judgment, including the assessment of the risks of material
misstatement of the financial statements, whether due to fraud or error. In making
those risk assessments, the auditor considers internal control relevant to the
Scheme’s preparation and fair presentation of the financial statements in order to
design audit procedures that are appropriate in the circumstances, but not for the
purpose of expressing an opinion on effectiveness of the entity’s internal control.
An audit also includes evaluating the appropriateness of accounting policies used
and the reasonableness of the accounting estimates made by management, as
well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate
to provide a basis for our audit opinion.
Opinion
In our opinion and to the best of our information and according to the explanations
given to us, the financial statements give the information as required by the SEBI
Regulations in the manner so required and give a true and fair view in conformity
with the accounting principles generally accepted in India:
a) In case of Balance Sheet, of the state of affairs of the Schemes as at September
14, 2017.
b) In case of Revenue Account, of the Surplus of the Scheme for the period April
01, 2017 to September 14, 2017
Report on Other Legal and Regulatory Requirements
1. We have obtained all the information and explanations, which to the best of
our knowledge and belief were necessary for the purposes of our audit.
2. The balance sheet and revenue account dealt with by this report are in
agreement with the books of account.
3. In our opinion, the balance sheet and revenue account dealt with by this report
have been prepared in conformity with the accounting policies and standards
specified in the Ninth Schedule to the SEBI Regulations.
4. In our opinion and on the basis of information and explanations given to us,
the methods used to value non traded securities as at September 14, 2017
are in accordance with the SEBI Regulations and other guidelines issued by
the Securities and Exchange Board of India, as applicable, and approved by
the Board of Trustees, and fair and reasonable.
For Chokshi & Chokshi LLP
Chartered Accountants
FRN - 101872W/W100045
Sd/-
Nilesh Joshi
Partner
Membership No. 114749
Place: Mumbai
Date: 19.07.2018
19
 Abridged Balance Sheet
as at March 31, 2018
(Rupees in Lakhs)

MIRAE ASSET MIRAE ASSET MIRAE ASSET

INDIA EQUITY FUND EMERGING BLUECHIP FUND HYBRID EQUITY FUND
As at As at As at As at As at As at
31, March 31, March 31, March 31, March 31, March 31, March
2018 2017 2018 2017 2018 2017
LIABILITIES
1 Unit Capital 171,245.67 103,613.72 110,029.63 87,762.27 85,834.08 38,461.56
2 Reserves & Surplus 506,258.96 237,879.43 390,484.38 265,371.02 25,119.31 7,683.20
2.1 Unit Premium Reserves 248,848.51 81,762.38 182,973.81 117,294.18 12,110.45 1,478.51
2.2 Unrealised Appreciation Reserve 67,840.44 52,067.60 55,503.74 67,413.95 5,588.84 4,423.67
2.3 Other Reserves 189,570.02 104,049.45 152,006.64 80,662.89 7,420.03 1,781.02
3 Loans & Borrowings - - - - - -
4 Current Liabilities & Provisions 5,206.04 1,344.34 3,674.49 1,037.94 3,203.52 1,168.71
4.1 Provision for doubtful Income/Deposits - - - - - -
4.2 Other Current Liabilities & Provisions 5,206.04 1,344.34 3,674.49 1,037.94 3,203.52 1,168.71
TOTAL 682,710.67 342,837.49 504,188.31 354,171.23 114,156.91 47,313.47
ASSETS
1 Investments
1.1. Listed Securities:
1.1.1 Equity Shares 657,339.79 327,988.54 491,169.06 337,302.93 80,683.97 33,678.03
1.1.2 Preference Shares - - - - - -
1.1.3 Equity Linked Debentures - - - - - -
1.1.4 Other Debentures & Bonds - - - - 3,779.55 3,255.55
1.1.5 Securitised Debt securities - - - - - -
1.1.6 Derivatives - - - - - -
1.2 Securities Awaited Listing:
1.2.1 Equity Shares - - - - - -
1.2.2 Preference Shares - - - - - -
1.2.3 Equity Linked Debentures - - - - - -
1.2.4 Other Debentures & Bonds - - - - - -
1.2.5 Securitised Debt securities - - - - - -
1.3 Unlisted Securities
1.3.1 Equity Shares - - - - - -
1.3.2 Preference Shares - - - - - -
1.3.3 Equity Linked Debentures - - - - - -
1.3.4 Other Debentures & Bonds - - - - - -
1.3.5 Securitised Debt securities - - - - - -
1.4 Government Securities - - - - 9,829.67 3,943.59
1.5 Treasury Bills - - - - - -
1.6 Commercial Paper - - - - 4,496.13 -
1.7 Certificate of Deposits - - - - 10,855.20 2,085.99
1.8 Bill Rediscounting - - - - - -
1.9 Units of Domestic Mutual Fund 2,364.06 671.14 428.17 997.98 - -
1.10 Foreign Securities - - - - - -
1.11 Units of Foreign Mutual Fund - - - - - -
Total Investments 659,703.81 328,659.68 491,597.24 338,300.91 109,644.50 42,963.16
2 Deposits
3 Other Current Assets 23,006.86 14,177.81 12,591.07 15,870.32 4,512.41 4,350.31
3.1 Cash & Bank Balance 6.27 363.14 84.38 389.57 4.11 3.84
3.2 CBLO/ Reverse Repo Lending 14,140.51 8,872.17 1,764.25 8,515.38 60.25 3,256.80
3.3 Others 8,860.05 4,942.50 10,742.46 6,965.40 4,448.04 1,089.67
4 Deferred Revenue Expenditure - - - - - -
(to the extent not written off)
TOTAL 682,710.67 342,837.49 504,188.31 354,171.23 114,156.91 47,313.47

20
 Abridged Balance Sheet
as at september 14, 2017 / as at March 31, 2018
(Rupees in Lakhs)

MIRAE ASSET MIRAE ASSET MIRAE ASSET

TAX SAVER FUND GREAT CONSUMER FUND CHINA ADVANTAGE FUND
As at As at As at As at As at 14, As at
31, March 31, March 31, March 31, March September 31, March
2018 2017 2018 2017 2017 2017
LIABILITIES
1 Unit Capital 58,616.49 24,442.54 10,102.25 2,698.84 428.99 515.92
2 Reserves & Surplus 31,811.14 8,237.65 18,529.60 3,548.21 320.04 242.87
2.1 Unit Premium Reserves 19,671.34 3,867.86 8,428.24 719.09 (131.40) (56.13)
2.2 Unrealised Appreciation Reserve 5,109.08 3,231.68 944.56 850.94 - 185.89
2.3 Other Reserves 7,030.72 1,138.11 9,157.80 1,978.18 451.42 113.11
3 Loans & Borrowings - - - - - -
4 Current Liabilities & Provisions 876.83 1,121.81 239.09 1,835.89 207.38 41.62
4.1 Provision for doubtful Income/Deposits - - - - - -
4.2 Other Current Liabilities & Provisions 876.83 1,121.81 239.09 1,835.89 207.38 41.62
TOTAL 91,304.46 33,802.00 28,871.94 8,082.94 956.41 800.41
ASSETS
1 Investments
1.1. Listed Securities:
1.1.1 Equity Shares 86,594.88 28,702.37 26,577.88 4,713.29 - -
1.1.2 Preference Shares - - - - - -
1.1.3 Equity Linked Debentures - - - - - -
1.1.4 Other Debentures & Bonds - - - - - -
1.1.5 Securitised Debt securities - - - - - -
1.1.6 Derivatives - - - - - -
1.2 Securities Awaited Listing:
1.2.1 Equity Shares - - - - - -
1.2.2 Preference Shares - - - - - -
1.2.3 Equity Linked Debentures - - - - - -
1.2.4 Other Debentures & Bonds - - - - - -
1.2.5 Securitised Debt securities - - - - - -
1.3 Unlisted Securities
1.3.1 Equity Shares - - - - - -
1.3.2 Preference Shares - - - - - -
1.3.3 Equity Linked Debentures - - - - - -
1.3.4 Other Debentures & Bonds - - - - - -
1.3.5 Securitised Debt securities - - - - - -
1.4 Government Securities - - - - - -
1.5 Treasury Bills - - - - - -
1.6 Commercial Paper - - - - - -
1.7 Certificate of Deposits - - - - - -
1.8 Bill Rediscounting - - - - - -
1.9 Units of Domestic Mutual Fund 202.68 - - - - -
1.10 Foreign Securities - - - - - -
1.11 Units of Foreign Mutual Fund - - - 1,631.90 - 653.86
Total Investments 86,797.57 28,702.37 26,577.85 6,345.19 - 653.86
2 Deposits
3 Other Current Assets 4,507.89 5,099.63 2,293.29 1,737.75 956.41 146.55
3.1 Cash & Bank Balance 0.79 210.29 2.78 0.08 4.44 0.06
3.2 CBLO/ Reverse Repo Lending 1,672.91 2,227.05 766.64 1,799.74 948.95 29.51
3.3 Others 2,833.20 2,662.30 1,524.64 (62.09) 3.00 116.98
4 Deferred Revenue Expenditure - - - - - -
(to the extent not written off)
TOTAL 91,304.46 33,802.00 28,871.94 8,082.94 956.41 800.41

21
 Abridged Balance Sheet
as at March 31, 2018
(Rupees in Lakhs)

MIRAE ASSET MIRAE ASSET MIRAE ASSET Mirae Asset

CASH MANAGEMENT SAVINGS FUND DYNAMIC BOND FUND Short Term
FUND Fund#
As at As at As at As at As at As at As at
31, March 31, March 31, March 31, March 31, March 31, March 31, March
2018 2017 2018 2017 2018 2017 2018
LIABILITIES
1 Unit Capital 153,140.61 16,016.92 26,074.08 18,097.75 5,265.31 5,263.19 11,873.01
2 Reserves & Surplus 120,228.75 8,547.20 10,920.11 6,287.06 201.98 29.11 81.58
2.1 Unit Premium Reserves 77.58 2.89 (28,643.48) (19,311.07) 6.68 0.79 2.04
2.2 Unrealised Appreciation Reserve 93.18 1.43 (88.78) 12.81 (14.25) 8.83 34.29
2.3 Other Reserves 120,057.98 8,542.88 39,652.37 25,585.32 209.55 19.49 45.25
3 Loans & Borrowings - - - - - - -
4 Current Liabilities & Provisions 6,987.61 34.25 1,204.48 (33.41) 164.11 12.56 7.00
4.1 Provision for doubtful Income/Deposits - - - - - - -
4.2 Other Current Liabilities & Provisions 6,987.61 34.25 1,204.48 (33.41) 164.11 12.56 7.00
TOTAL 280,356.97 24,598.37 38,198.67 24,351.40 5,631.40 5,304.86 11,961.59
ASSETS
1 Investments
1.1. Listed Securities:
1.1.1 Equity Shares - - - - - - -
1.1.2 Preference Shares - - - - - - -
1.1.3 Equity Linked Debentures - - - - - - -
1.1.4 Other Debentures & Bonds 5,028.65 - 18,196.14 8,391.62 1,400.52 2,007.90 10,379.09
1.1.5 Securitised Debt securities - - - - - - -
1.1.6 Derivatives - - - - - - -
1.2 Securities Awaited Listing:
1.2.1 Equity Shares - - - - - - -
1.2.2 Preference Shares - - - - - - -
1.2.3 Equity Linked Debentures - - - - - - -
1.2.4 Other Debentures & Bonds - - - - - - -
1.2.5 Securitised Debt securities - - - - - - -
1.3 Unlisted Securities
1.3.1 Equity Shares - - - - - - -
1.3.2 Preference Shares - - - - - - -
1.3.3 Equity Linked Debentures - - - - - - -
1.3.4 Other Debentures & Bonds - - - - - - -
1.3.5 Securitised Debt securities - - - - - - -
1.4 Government Securities - - - 209.60 4,082.74 - -
1.5 Treasury Bills 999.34 - - - - - -
1.6 Commercial Paper 169,746.89 14,633.58 11,438.13 10,527.76 - 197.01 -
1.7 Certificate of Deposits 100,855.22 9,019.74 7,111.69 2,893.03 - 395.42 1,264.22
1.8 Bill Rediscounting - - - - - - -
1.9 Units of Domestic Mutual Fund - - - - - - -
1.10 Foreign Securities - - - - - - -
1.11 Units of Foreign Mutual Fund - - - - - - -
Total Investments 276,630.05 23,653.32 36,745.98 22,022.01 5,483.26 2,600.33 11,643.31
2 Deposits
3 Other Current Assets 3,726.92 945.05 1,452.69 2,329.40 148.14 2,704.52 318.28
3.1 Cash & Bank Balance 0.07 453.19 1.99 736.82 0.20 83.32 0.32
3.2 CBLO/ Reverse Repo Lending 13.34 774.07 18.73 1,629.81 45.77 2,573.50 28.06
3.3 Others 3,713.46 (282.22) 1,432.00 (37.23) 102.17 47.71 289.90
4 Deferred Revenue Expenditure - - - - - - -
(to the extent not written off)
TOTAL 280,356.97 24,598.37 38,198.67 24,351.40 5,631.40 5,304.85 11,961.59
# MASTF was launched on 16th March, 2018, hence previous years’ figures are not provided.

22
 Abridged Revenue Account
For The Year/Period Ended March 31, 2018
(Rupees in Lakhs)

MIRAE ASSET MIRAE ASSET MIRAE ASSET

INDIA EQUITY FUND EMERGING BLUECHIP FUND HYBRID EQUITY FUND
As at As at As at As at As at As at
31, March 31, March 31, March 31, March 31, March 31, March
2018 2017 2018 2017 2018 2017
1 INCOME
1.1 Dividend 6,229.79 2,554.22 3,933.14 2,139.07 795.35 244.67
1.2 Interest 512.75 301.75 227.18 362.22 1,366.81 585.08
1.3 Realised Gain / (Loss) on Foreign Exchange
Transactions - - - - - -
1.4 Realised Gains / (Losses) on Interscheme sale of
investments - - - - (1.44) 15.69
1.5 Realised Gains / (Losses) on External sale / redemption
of investments 24,799.32 24,595.63 58,214.13 27,973.34 2,646.56 1,876.76
1.6 Realised Gains / (Losses) on Derivative Transactions - - - - - -
1.7 Other Income 240.75 87.70 93.48 123.09 18.81 8.81
(A) 31,782.61 27,539.30 62,467.93 30,597.72 4,826.09 2,731.01
2 EXPENSES
2.1 Management fee 6,339.51 2,961.29 5,674.18 3,078.81 804.94 293.93
2.2 GST on Management fees 1,094.77 414.58 973.85 431.03 139.81 41.15
2.3 Transfer agents fees and expenses 400.69 204.81 364.47 211.91 63.92 25.99
2.4 Custodian fee 59.22 41.60 53.45 43.44 12.35 6.81
2.5 Trusteeship fee 7.14 7.23 6.58 7.40 1.13 0.91
2.6 Commission to Agents 5,051.91 2,348.35 4,586.23 2,847.06 1,374.98 486.75
2.7 Marketing & Distribution expenses - - - - - -
2.8 Audit fee 6.61 4.59 6.03 4.77 1.05 0.59
2.9 Other operating expenses 640.79 314.24 901.88 440.19 106.11 37.51
2.10 Investor Protection Fund Expense 100.68 47.63 90.92 49.52 16.11 6.07
2.11 Interest on borrowings - - - - - -
2.12 Expenses reimbursed by AMC (2,800.60) (1,035.47) (2,364.62) (1,459.60) (518.95) (96.76)
(B) 10,900.72 5,308.85 10,292.97 5,654.53 2,001.45 802.95
3 NET REALISED GAINS / (LOSSES)
FOR THE YEAR / PERIOD (A - B = C) 20,881.89 22,230.45 52,174.96 24,943.18 2,824.64 1,928.06
4 Change in Unrealised Depreciation in value of
investments (D) - - 11,910.22 - - -
5 NET GAINS / (LOSSES)
FOR THE YEAR / PERIOD (E=(C-D)) 20,881.89 22,230.45 40,264.74 24,943.18 2,824.64 1,928.06
6 Change in unrealised appreciation in the value of
investments (F) 15,772.86 39,186.49 - 58,154.58 1,333.14 4,423.67
7 NET SURPLUS / (DEFICIT)
FOR THE YEAR / PERIOD (E + F = G) 36,654.75 61,416.94 40,264.74 83,097.76 4,157.78 6,351.73
7.1 NET SURPLUS / (DEFICIT) BROUGHT FORWARD
FROM PREVIOUS PERIOD 104,049.45 54,309.88 80,662.89 32,602.04 1,781.02 (444.08)
7.2 Less: Balance transfer to Unrealised Appreciation
Reserve (15,772.86) (39,186.49) 11,910.22 (58,154.58) (1,165.17) (4,423.67)
7.3 Add / (Less): Equalisation 77,757.09 31,348.40 22,716.60 26,325.07 3,565.19 440.25
7.4 Add / (Less):Transfer from Unit Premium Reserve - - - - - -
8 Total 202,688.43 107,888.73 155,554.45 83,870.29 8,338.82 1,924.23
9 Dividend appropriation
9.1 Income Distributed during the year / period 13,118.41 3,839.27 3,547.81 3,207.41 918.80 143.21
9.2 Tax on income distributed during the year / period - - - - - -
10 Retained Surplus / (Deficit) 189,570.01 104,049.45 152,006.64 80,662.89 7,420.02 1,781.02
10.1 Transfer from Unit premium Reserve - - - - - -
11 Retained Surplus / (Deficit) carried forward to
Balance sheet 189,570.01 104,049.45 152,006.64 80,662.89 7,420.02 1,781.02

23
 Abridged Revenue Account
For The Year/Period Ended March 31, 2018 / september 14, 2017
(Rupees in Lakhs)

MIRAE ASSET MIRAE ASSET GREAT MIRAE ASSET CHINA

TAX SAVER FUND CONSUMER FUND ADVANTAGE FUND
As at As at As at As at As at 14, As at
31, March 31, March 31, March 31, March September 31, March
2018 2017 2018 2017 2017 2017
1 INCOME
1.1 Dividend 672.39 107.25 50.09 37.63 - -
1.2 Interest 34.07 19.85 16.82 7.01 4.08 1.07
1.3 Realised Gain / (Loss) on Foreign Exchange
Transactions - - (31.81) 1.44 137.08 125.40
1.4 Realised Gains / (Losses) on Interscheme sale of
investments 0.82 - - - - -
1.5 Realised Gains / (Losses) on External sale / redemption
of investments 4,008.99 1,334.30 1,674.53 715.25 205.04 -
1.6 Realised Gains / (Losses) on Derivative Transactions - - - - - -
1.7 Other Income - - 3.32 3.79 0.13 0.70
(A) 4,716.27 1,461.40 1,712.95 765.12 346.33 127.17
2 EXPENSES
2.1 Management fee 623.86 129.64 187.94 70.92 5.29 10.83
2.2 GST on Management fees 108.43 18.15 32.89 9.93 0.85 1.52
2.3 Transfer agents fees and expenses 48.33 10.81 10.96 4.45 0.18 0.51
2.4 Custodian fee 7.27 2.28 2.52 1.07 0.07 0.15
2.5 Trusteeship fee 0.86 0.36 0.19 0.16 0.01 0.03
2.6 Commission to Agents 992.02 251.51 231.07 58.23 1.50 4.36
2.7 Marketing & Distribution expenses - - - - - -
2.8 Audit fee 0.80 0.27 0.18 0.10 - 0.01
2.9 Other operating expenses 144.68 25.06 20.69 10.19 0.02 0.47
2.10 Investor Protection Fund Expense 12.22 2.60 2.80 1.03 0.08 0.16
2.11 Interest on borrowings - - - - - -
2.12 Expenses reimbursed by AMC (440.34) (101.23) (101.76) (8.77) - (0.90)
(B) 1,498.13 339.46 389.47 147.31 8.00 45.38
3 NET REALISED GAINS / (LOSSES)
FOR THE YEAR / PERIOD (A - B = C) 3,218.14 1,121.94 1,323.48 617.81 338.33 81.79
4 Change in Unrealised Depreciation in value of
investments (D) - - - - - -
5 NET GAINS / (LOSSES)
FOR THE YEAR / PERIOD (E=(C-D)) 3,218.14 1,121.94 1,323.48 617.81 338.33 81.79
6 Change in unrealised appreciation in the value of
investments (F) 1,877.40 3,212.00 93.62 485.35 - 2.45
7 NET SURPLUS / (DEFICIT)
FOR THE YEAR / PERIOD (E + F = G) 5,095.54 4,333.94 1,417.10 1,103.16 338.33 84.24
7.1 NET SURPLUS / (DEFICIT) BROUGHT FORWARD
FROM PREVIOUS PERIOD 1,138.11 (151.56) 1,978.18 1,097.98 113.11 169.83
7.2 Less: Balance transfer to Unrealised Appreciation
Reserve (1,877.40) (3,212.00) (94.00) (485.35) - (2.44)
7.3 Add / (Less): Equalisation 3,537.94 367.19 6,192.41 388.97 - (138.52)
7.4 Add / (Less):Transfer from Unit Premium Reserve - - - - - -
8 Total 7,894.19 1,337.57 9,494.07 2,104.76 451.44 113.11
9 Dividend appropriation - - - -
9.1 Income Distributed during the year / period 863.47 199.49 336.27 126.57 - -
9.2 Tax on income distributed during the year / period - - - - - -
10 Retained Surplus / (Deficit) 7,030.72 1,138.11 9,157.80 1,978.18 451.44 113.11
10.1 Transfer from Unit premium Reserve - - - - - -
11 Retained Surplus / (Deficit) carried forward to
Balance sheet 7,030.72 1,138.11 9,157.80 1,978.18 451.44 113.11

24
 Abridged Revenue Account
For The Year/Period Ended March 31, 2018
(Rupees in Lakhs)

MIRAE ASSET CASH MIRAE ASSET MIRAE ASSET Mirae Asset

MANAGEMENT FUND SAVINGS FUND DYNAMIC BOND FUND Short Term
Fund#
As at As at As at As at As at As at As at
31, March 31, March 31, March 31, March 31, March 31, March 31, March
2018 2017 2018 2017 2018 2017 2018
1 INCOME
1.1 Dividend - - - - - - -
1.2 Interest 5,223.21 1,611.29 2,525.17 1,015.17 486.35 10.79 46.96
1.3 Realised Gain / (Loss) on Foreign Exchange
Transactions - - - - - - -
1.4 Realised Gains / (Losses) on Interscheme
sale of investments 3.06 0.21 (24.94) 3.78 0.06 - -
1.5 Realised Gains / (Losses) on External sale /
redemption of investments 9.25 - 12.93 82.56 (137.49) 8.64 (0.60)
1.6 Realised Gains / (Losses) on Derivative Transactions - - - - -
1.7 Other Income - 0.98 - - 3.60 0.03 0.03
(A) 5,235.52 1,612.48 2,513.16 1,101.51 352.52 19.46 46.39
2 EXPENSES
2.1 Management fee 15.49 - 67.66 29.29 48.31 0.73 1.34
2.2 GST on Management fees 2.67 - 11.65 4.10 8.27 0.10 0.24
2.3 Transfer agents fees and expenses 35.32 11.14 24.15 9.80 4.84 0.01 0.17
2.4 Custodian fee 5.10 3.19 3.61 3.89 4.01 0.02 0.07
2.5 Trusteeship fee 1.04 0.73 0.53 0.42 0.11 - 0.01
2.6 Commission to Agents 15.50 12.46 169.50 60.26 74.94 10.37 4.40
2.7 Marketing & Distribution expenses - - - - - - -
2.8 Audit fee 0.99 0.45 0.49 0.30 0.10 0.08 0.09
2.9 Other operating expenses 40.25 10.21 15.05 6.49 3.00 0.10 0.11
2.10 Investor Protection Fund Expense 15.49 4.76 7.33 3.06 1.46 0.02 0.10
2.11 Interest on borrowings 71.12 - - - - - -
2.12 Expenses reimbursed by AMC (68.63) (21.61) (9.58) (19.13) (6.94) (9.30) (1.08)
(B) 134.34 32.37 290.39 98.48 138.10 2.13 5.45
3 NET REALISED GAINS / (LOSSES)
FOR THE YEAR / PERIOD (A - B = C) 5,101.18 1,580.11 2,222.77 1,003.03 214.42 17.33 40.94
4 Change in Unrealised Depreciation in value of
investments (D) - - 101.59 - 23.08 - -
5 NET GAINS / (LOSSES)
FOR THE YEAR / PERIOD (E=(C-D)) 5,101.18 1,580.11 2,121.18 1,003.03 191.34 17.33 40.94
6 Change in unrealised appreciation in the value
of investments (F) 91.75 1.01 - 8.02 - 8.83 34.29
7 NET SURPLUS / (DEFICIT)
FOR THE YEAR / PERIOD (E + F = G) 5,192.93 1,581.12 2,121.18 1,011.05 191.34 26.16 75.23
7.1 NET SURPLUS / (DEFICIT) BROUGHT
FORWARD FROM PREVIOUS PERIOD 8,542.88 3,043.63 25,585.32 9,139.29 19.49 - -
7.2 Less: Balance transfer to Unrealised
Appreciation Reserve (91.75) (1.01) 101.59 (8.02) 23.08 (8.83) (34.29)
7.3 Add / (Less): Equalisation 106,955.91 4,169.11 12,195.04 15,648.36 (24.36) 2.16 4.31
7.4 Add / (Less):Transfer from Unit Premium Reserve - - - - - - -
8 Total 120,599.97 8,792.85 40,003.13 25,790.68 209.55 19.49 45.25
9 Dividend appropriation
9.1 Income Distributed during the year / period 389.37 179.56 251.88 146.70 - - -
9.2 Tax on income distributed during the year / period 152.61 70.41 98.88 58.66 - - -
10 Retained Surplus / (Deficit) 120,057.99 8,542.88 39,652.37 25,585.32 209.55 19.49 45.25
10.1 Transfer from Unit premium Reserve - - - - - - -
11 Retained Surplus / (Deficit) carried forward
to Balance sheet 120,057.99 8,542.88 39,652.37 25,585.32 209.55 19.49 45.25

# MASTF was launched on 16th March, 2018, hence previous years’ figures are not provided.

25
 Cash Flow Statement
for the year/period ended March 31, 2018
(Rupees in ‘000)

Mirae Asset Mirae Asset

India Equity Fund Emerging Bluechip Fund
01 April 2017 to 01 April 2016 to 01 April 2017 to 01 April 2016 to
31 March 2018 31 March 2017 31 March 2018 31 March 2017
Cashflow from Operating Activity
Net Surplus/(Deficit) for the year 3,665,475 6,141,695 4,026,474 8,309,777
Add / (Less) : Changes in Unrealised loss provided / (written back) (1,577,286) (3,918,649) 1,191,022 (5,815,458)
Add / (Less) : Transferred to / (From) Equalisation reserves - - - -
Add / (Less) : Transferred to / (From) Retained surplus - - - -

Operating Profit/(Loss) before Working Capital Changes 2,088,189 2,223,046 5,217,496 2,494,320

Adjustments for:-
(Increase)/Decrease in Other current assets (255,804) (138,684) (391,429) (386,864)
(Increase)/Decrease in Investments at cost (31,527,130) (12,785,770) (16,520,654) (15,267,655)
Increase/(Decrease) in Current liabilities and Provisions 339,787 28,577 160,625 (3,770)
(Increase)/Decrease in Deposits (4,203) - 594 -

Net cash generated from/(used in) operating Activities (A) (29,359,161) (10,672,831) (11,533,367) (13,163,969)

Cashflow from Financing Activities

Increase/(Decrease) in Unit Capital 6,763,195 3,967,480 2,226,736 3,952,801
Increase/(Decrease) in Unit Premium reserve/Equalisation Reserve 24,484,322 7,891,253 8,839,623 10,141,298
Increase/(Decrease) in Redemption Payable for units redeemed by 46,383 7,885 103,030 5,283
investors
(Increase)/Decrease in Subscription Receivable for units issued to (131,747) (180,431) 13,128 (64,301)
investors
Increase / (Decrease) in Borrowing - - - -
Dividend Paid during the year/period (including dividend tax paid) (1,311,841) (383,927) (354,781) (320,741)

Net cash generated from/(used) in financing activities (B) 29,850,311 11,302,260 10,827,736 13,714,340

Net Increase/(Decrease) in Cash & cash equivalents (A+B) 491,151 629,429 (705,631) 550,371

Cash and Cash Equivalents as at the beginning of the year / period 923,527.61 294,100 890,494 340,123
Cash and Cash Equivalents as at the close of the year / period 1,414,678.23 923,528 184,863.00 890,494

Net Increase /(Decrease) in Cash & Cash Equivalaents 491,151 629,427 (705,631) 550,371

Components of cash and cash equivalents

With Banks - in current account 627 36,311 8,438 38,957
Deposits with companies/financial institutions - - - -
Deposits with scheduled banks - - - -
Collaterlized Borrowing and Lending obligations (CBLO) / 1,414,051 887,217 176,425 851,538

1,414,678 923,528 184,863 890,495

26
 Key Statistics
for the year/period ended March 31, 2018
MIRAE ASSET MIRAE ASSET MIRAE ASSET
INDIA EQUITY FUND EMERGING BLUECHIP FUND HYBRID EQUITY FUND
As at As at As at As at As at As at
31, March 31, March 31, March 31, March 31, March 31, March
2018 2017 2018 2017 2018 2017
1. NAV per unit (Rs.):
Regular - Dividend Plan (Daily)
Open 18.7690 15.9320 27.7870 21.1610 11.8110 9.7790
High 21.7430 18.7690 32.6080 27.7870 13.2250 11.8110
Low 17.2640 15.5940 27.0880 20.9920 11.5310 9.6270
End 17.4310 18.7690 28.5200 27.7870 12.1690 11.8110
Regular - Growth Plan
Open 39.8910 31.0860 42.5490 29.7700 12.0270 9.7790
High 50.3080 39.8910 54.3320 42.5490 14.2660 12.0270
Low 39.8810 30.4270 42.7230 29.5320 11.9960 9.6270
End 44.8150 39.8910 47.5210 42.5490 13.1280 12.0270
Direct Daily
Open 30.8440 23.8560 40.4090 28.0570 12.1670 9.8800
High 39.1270 30.8440 51.9110 40.4090 13.8420 12.1670
Low 30.8470 23.3540 40.5800 27.8370 11.8940 9.7320
End 32.9570 30.8440 45.4560 40.4090 12.7630 12.1670
Direct Growth
Open 41.4210 32.0340 44.3110 30.7610 12.4130 9.8800
High 52.5420 41.4210 56.9350 44.3110 14.9420 12.4130
Low 41.4260 31.3600 44.5000 30.5190 12.3930 9.7320
End 46.8580 41.4210 49.8500 44.3110 13.7880 12.4130
2. Closing Assets Under Management (Rs. in Lakhs)
End 677,504.63 341,493.15 500,513.82 353,133.29 110,953.39 46,144.76
Average (AAuM) 503,333.41 238,108.05 454,567.86 247,551.31 80,551.05 30,338.31
3. Gross income as % of AAuM1 6.31% 11.57% 13.74% 12.36% 5.99% 9.00%
4. Expense Ratio:
a. Total Expense as % of AAuM 2.17% 2.23% 2.26% 2.28% 2.48% 2.65%
b. Management Fee as % of AAuM. 1.26% 1.24% 1.25% 1.24% 1.00% 0.97%
5. Net Income as a percentage of AAuM2 4.15% 9.34% 11.48% 10.08% 3.51% 6.36%
6. Portfolio turnover ratio 0.52 0.86 0.79 1.01 3.24 3.49
7. Total Dividend per unit distributed during
the year/period (plan wise)
Regular - Dividend Plan (Individual) 3.70 1.50 2.50 2.00 0.70 0.20
Regular - Dividend Plan (Others) 3.70 1.50 2.50 2.00 0.70 0.20
Regular - Dividend Plan (Daily) (Individual) - - - - - -
Regular - Dividend Plan (Daily) (Others) - - - - - -
Regular - Dividend Plan (Weekly) (Individual) - - - - - -
Regular - Dividend Plan (Weekly) (Others) - - - - - -
Regular - Dividend Plan (Monthly) (Individual) - - - - - -
Regular - Dividend Plan (Monthly) (Others) - - - - - -
Regular - Dividend Plan (Quarterly) (Individual) - - - - - -
Regular - Dividend Plan (Quarterly) (Others) - - - - - -
Direct - Dividend Plan (Individual) 2.00 - - - 0.66 0.20
Direct - Dividend Plan (Others) 2.00 - - - 0.66 0.20
8. Returns:
1 Year
Scheme
Direct - Growth Option 13.11% 29.30% 12.48% 44.05% 11.08% 25.64%
Regular - Growth Option 12.32% 28.32% 11.66% 42.93% 9.15% 22.99%
Benchmark 12.49% 22.47% 14.61% 34.85% 9.96% 16.10%
Since Inception
Scheme
Direct - Growth Option 19.00% 20.42% 27.35% 31.13% 12.76% 13.78%
Regular - Growth Option 16.19% 16.63% 22.33% 24.00% 10.71% 11.66%
Benchmark
Direct - Growth Option 10.41% 12.22% 16.73% 17.72% 12.05% 7.54%
Regular - Growth Option 13.59% 8.61% 12.54% 11.43% 9.93% 7.54%
1. Gross income = amount against (A) in the Revenue account i.e. Income.
2. Net income = amount against (C) in the Revenue account i.e. NET REALISED GAINS / (LOSSES) FOR THE YEAR / PERIOD
3. Portfolio Turnover = Lower of sales or purchase divided by the Average AuM for the year/period.
4. AAuM=Average daily net assets

27
 Key Statistics
for the year/period ended september 14, 1017 / March 31, 2018
MIRAE ASSET MIRAE ASSET MIRAE ASSET CHINA
TAX SAVER FUND GREAT CONSUMER FUND ADVANTAGE FUND ##
As at As at As at As at As at 14, As at
31, March 31, March 31, March 31, March September 31, March
2018 2017 2018 2017 2017 2017
1. NAV per unit (Rs.):
Regular - Dividend Plan (Daily)
Open 12.8840 9.7210 14.7560 13.4050 14.5580 13.0280
High 16.9080 13.2750 18.7510 16.5700 17.3270 14.8670
Low 12.9520 9.5600 14.8180 13.2040 14.4890 12.3970
End 13.7490 12.8840 16.1830 14.7560 17.2960 14.5580
Regular - Growth Plan
Open 13.4430 9.7210 25.6240 20.4590 14.5580 13.0280
High 17.6460 13.4430 34.6390 25.6240 17.3270 14.8670
Low 13.5150 9.5600 25.7300 20.1510 14.4890 12.3970
End 15.6130 13.4430 31.7150 25.6240 17.2960 14.5580
Direct Daily
Open 13.1380 9.7630 26.8140 21.1760 14.6520 13.2820
High 17.4470 13.5180 36.5990 26.8140 17.4850 15.1990
Low 13.2080 9.6040 26.9280 20.8590 14.5880 12.6440
End 14.2750 13.1380 31.8940 26.8140 17.4570 14.6520
Direct Growth
Open 13.7060 9.7630 26.9700 21.2480 15.0330 13.3400
High 18.1750 13.7060 36.8610 26.9700 17.9470 15.3180
Low 13.7810 9.6040 27.0850 20.9320 14.9690 12.7080
End 16.1090 13.7060 33.8180 26.9700 17.9190 15.0330
2. Closing Assets Under Management (Rs. in Lakhs)
End 90,427.63 32,680.19 28,632.85 6,247.05 749.03 758.79
Average (AAuM) 61,087.88 12,991.84 14,005.94 5,135.49 855.82 775.31
3. Gross income as % of AAuM1 7.72% 11.25% 12.23% 14.90% 88.45% 16.40%
4. Expense Ratio:
a. Total Expense as % of AAuM 2.45% 2.61% 2.78% 2.87% 2.04% 2.21%
b. Management Fee as % of AAuM. 1.02% 1.00% 1.34% 1.38% 1.35% 1.40%
5. Net Income as a percentage of AAuM2 5.27% 8.64% 9.45% 12.03% 86.40% 10.55%
6. Portfolio turnover ratio 0.69 1.14 0.65 0.70 0.14 0.57
7. Total Dividend per unit distributed during
the year/period (plan wise)
Regular - Dividend Plan (Individual) 1.25 0.55 2.00 2.00 - -
Regular - Dividend Plan (Others) 1.25 0.55 2.00 2.00 - -
Direct - Dividend Plan (Individual) 1.25 0.55 1.70 - - -
Direct - Dividend Plan (Others) 1.25 0.55 1.70 - - -
8. Returns:
1 Year
Scheme
Direct - Growth Option 17.52% 40.39% 25.38% 26.93% N.A 12.69%
Regular - Growth Option 16.12% 38.29% 23.74% 25.25% N.A 11.74%
Benchmark 12.49% 22.47% 12.49% 21.02% N.A 14.35%
Since Inception
Scheme
Direct - Growth Option 23.51% 28.49% 19.18% 17.76% N.A 5.50%
Regular - Growth Option 21.81% 26.53% 17.89% 16.95% N.A 5.20%
Benchmark
Direct - Growth Option 14.52% 14.60% 13.59% 13.07% N.A 5.29%
Regular - Growth Option 14.57% 14.60% 11.16% 14.64% N.A 5.05%

1. Gross income = amount against (A) in the Revenue account i.e. Income.
2. Net income = amount against (C) in the Revenue account i.e. NET REALISED GAINS / (LOSSES) FOR THE YEAR / PERIOD
3. Portfolio Turnover = Lower of sales or purchase divided by the Average AuM for the year/period.
4. AAuM=Average daily net assets
## Scheme merged with MIRAE ASSET GREAT CONSUMER FUND effective 15th September 2017 and hence returns are not computed.

28
 Key Statistics
for the year/period ended March 31, 2018
MIRAE ASSET CASH MIRAE ASSET MIRAE ASSET MIRAE ASSET
MANAGEMENT FUND SAVINGS FUND DYNAMIC BOND FUND SHORT TERM
FUND#
As at As at As at As at As at As at As at
31, March 31, March 31, March 31, March 31, March 31, March 31, March 2018
2018 2017 2018 2017 2018 2017
1. NAV per unit (Rs.):
Savings - Dividend Plan (Daily)
Open - - 1,016.6402 1,017.0342 - - -
High - - 1,018.2585 1,019.1760 - - -
Low - - 1,016.4576 1,016.2740 - - -
End - - 1,017.7214 1,016.6402 - - -
Savings - Dividend Plan (Weekly)
Open - - 1,115.3393 1,109.4316 - - -
High - - 1,120.6371 1,116.3119 - - -
Low - - 1,114.4529 1,108.2633 - - -
End - - 1,118.5252 1,115.3393 - - -
Savings - Growth Plan
Open - - 1,414.7143 1,325.1880 - - -
High - - 1,497.7681 1,414.7143 - - -
Low - - 1,415.4515 1,326.2594 - - -
End - - 1,496.9789 1,414.7143 - - -
Savings - Dividend Plan (Monthly)
Open - - 1,095.2115 1,088.6002 - - -
High - - 1,103.7492 1,101.7707 - - -
Low - - 1,094.1623 1,087.0539 - - -
End - - 1,099.6980 1,095.2115 - - -
Savings - Dividend Plan Quarterly)
Open - - 1,053.3825 1,037.0070 - - -
High - - 1,055.2522 1,053.3825 - - -
Low - - 1,019.5869 1,021.6469 - - -
End - - 1,034.2456 1,053.3825 - - -
Regular - Dividend Plan (Daily)
Open 1,064.3792 1,060.8145 1,599.1996 1,497.5843 10.0551 - -
High 1,067.0372 1,064.3792 1,693.0433 1,599.1996 10.3884 10.0551 10.0680
Low 1,064.3975 1,060.8499 1,600.0323 1,498.7945 10.0456 10.0000 10.0000
End 1,066.4347 1,064.3792 1,692.1509 1,599.1996 10.3412 10.0551 10.0627
Regular - Dividend Plan (Weekly)
Open 1,150.8026 1,146.7994 1,599.3204 1,497.4951 - - -
High 1,153.9899 1,151.6696 1,693.8865 1,599.3204 - - -
Low 1,150.6128 1,146.8324 1,600.1553 1,498.7136 - - -
End 1,152.5501 1,150.8026 1,692.8384 1,599.3204 - - -
Regular - Dividend Plan (Monthly)
Open 1,151.5920 1,147.1115 1,602.7589 1,501.1863 - - -
High 1,158.8819 1,156.2583 1,662.6368 1,602.7589 - - -
Low 1,150.6274 1,146.8866 1,603.5933 1,502.3997 - - -
End 1,153.1888 1,151.5920 1,662.2469 1,602.7589 - - -
Regular - Growth Plan
Open 1,700.1943 1,589.9463 1,677.4834 1,571.1398 10.0551 - -
High 1,814.7202 1,700.1943 1,775.8374 1,677.4834 10.3884 10.0551 10.0680
Low 1,700.7782 1,591.0067 1,678.3569 1,572.4094 10.0456 10.0000 10.0000
End 1,813.6955 1,700.1943 1,774.9013 1,677.4834 10.3412 10.0551 10.0627
Direct Daily
Open 1,073.7396 1,070.0934 1,222.4399 1,222.5556 10.0578 - -
High 1,076.4544 1,073.7396 1,224.7160 1,225.1573 10.5296 10.0578 10.0713
Low 1,073.7581 1,070.1293 1,222.2450 1,221.9068 10.0507 10.0000 10.0000
End 1,075.8332 1,073.7396 1,224.0164 1,222.4399 10.4943 10.0578 10.0654
Direct Growth
Open 1,715.9762 1,602.9522 1,460.6978 1,357.5331 10.0578 - -
High 1,833.3754 1,715.9762 1,557.8452 1,460.6978 10.5296 10.0578 10.0714
Low 1,716.5674 1,604.0280 1,461.5505 1,358.7135 10.0507 10.0000 10.0000
End 1,832.3174 1,715.9762 1,556.9346 1,460.6978 10.4943 10.0578 10.0655
Direct Monthly
Open 1,093.5821 1,021.7848 1,127.3938 1,051.6797 - - -
High 1,141.2825 1,093.5821 1,177.5320 1,127.3938 - - -
Low 1,093.9588 1,022.4704 1,128.0272 1,052.5815 - - -
End 1,135.5376 1,093.5821 1,172.8080 1,127.3938 - - -
# MASTF was launched on 16th March, 2018, hence previous years’ figures are not provided.

29
 Key Statistics
for the year/period ended March 31, 2018 (contd...)
MIRAE ASSET CASH MIRAE ASSET MIRAE ASSET MIRAE ASSET
MANAGEMENT FUND SAVINGS FUND DYNAMIC BOND FUND SHORT TERM
FUND#
As at As at As at As at As at As at As at
31, March 31, March 31, March 31, March 31, March 31, March 31, March 2018
2018 2017 2018 2017 2018 2017
Direct Quarterly
Open - - 1,078.3652 1,059.1950 - - -
High - - 1,080.4822 1,078.3652 - - -
Low - - 1,040.3746 1,041.9426 - - -
End - - 1,056.4201 1,078.3652 - - -
Direct Weekly
Open 1,211.9824 1,203.4707 1,414.4750 1,319.2452 - - -
High 1,217.7581 1,212.8362 1,472.7822 1,414.4750 - - -
Low 1,211.8957 1,203.7421 1,415.2696 1,320.3764 - - -
End 1,216.2089 1,211.9824 1,469.8770 1,414.4750 - - -
2. Closing Assets Under Management
(Rs. in Lakhs)
End 273,369.36 24,564.12 36,994.19 24,384.81 5,467.29 5,292.29 11,954.59
Average (AAuM) 77,434.04 23,756.43 36,641.03 15,296.34 7,315.25 4,787.34 10,975.23
3. Gross income as % of AAuM1 6.76% 6.79% 6.86% 7.20% 4.82% 0.41% 9.64%
4. Expense Ratio:
a. Total Expense as % of AAuM 0.08% 0.09% 0.79% 0.64% 1.89% 2.04% 1.13%
b. Management Fee as % of AAuM. 0.02% 0.00% 0.18% 0.19% 0.66% 0.70% 0.28%
5. Net Income as a percentage of AAuM2 6.59% 6.65% 6.07% 6.56% 2.93% 16.50% 8.51%
6. Portfolio turnover ratio 14.07 11.18 6.22 9.49 28.20 0.76 0.09
7. Total Dividend per unit distributed during
the year/period (plan wise)
Savings - Dividend Plan (Daily) (Individual) - - 40.7782 48.2606 - - -
Savings - Dividend Plan (Daily) (Others) - - 37.7802 44.7125 - - -
Savings - Dividend Plan (Weekly) (Individual) - - 43.4139 48.2967 - - -
Savings - Dividend Plan (Weekly) (Others) - - 40.2221 44.7460 - - -
Savings - Dividend Plan (Monthly) (Individual) - - 41.5932 46.9249 - - -
Savings - Dividend Plan (Monthly) (Others) - - 38.5353 43.4750 - - -
Savings - Dividend Plan (Quarterly) (Individual) - - 55.9635 37.1822 - - -
Savings - Dividend Plan (Quarterly) (Others) - - 51.8491 34.4486 - - -
Regular - Dividend Plan (Daily) (Individual) 48.2818 48.8931 - - - - -
Regular - Dividend Plan (Daily) (Others) 44.7322 45.2985 - - - - -
Regular - Dividend Plan (Weekly) (Individual) 52.7571 52.6923 - - - - -
Regular - Dividend Plan (Weekly) (Others) 48.8784 48.8184 - - - - -
Regular - Dividend Plan (Monthly) (Individual) 52.8967 52.4411 - - - - -
Regular - Dividend Plan (Monthly) (Others) 49.0078 48.5857 - - - - -
Direct Daily Dividend (Individual) 49.3039 50.1214 53.9299 61.5500 - - -
Direct Daily Dividend (Others) 45.6791 46.4365 49.9650 57.0300 - - -
Direct Weekly Dividend (Individual) 54.5264 53.3039 25.2764 - - - -
Direct Weekly Dividend (Others) 50.5177 49.3850 23.4181 - - - -
Direct Monthly Dividend (Individual) 22.8941 - 19.2262 - - - -
Direct Monthly Dividend (Others) 21.2109 - 17.8127 - - - -
Direct Quarterly Dividend (Individual) - - 63.1107 40.5046 - - -
Direct Quarterly Dividend (Others) - - 58.4709 37.5268 - - -
8. Returns:
1 Year
Scheme
Direct - Growth Option 6.84% 7.05% 6.65% 7.60% 4.39% NA N.A
Regular - Growth Option 6.74% 6.93% 5.87% 6.77% 2.88% NA N.A
Benchmark 6.79% 7.11% 6.79% 7.11% 5.06% NA N.A
Since Inception
Scheme
Direct - Growth Option 7.87% 8.12% 7.91% 8.21% 4.89% 0.58% 17.93%
Regular - Growth Option 6.68% 6.67% 7.26% 7.55% 3.38% 0.55% 18.90%
Benchmark
Direct - Growth Option 8.09% 8.38% 8.09% 8.38% 5.60% 0.59% 7.23%
Regular - Growth Option 7.45% 7.52% 8.08% 8.33% 5.60% 0.59% 7.23%
1. Gross income = amount against (A) in the Revenue account i.e. Income.
2. Net income = amount against (C) in the Revenue account i.e. NET REALISED GAINS / (LOSSES) FOR THE YEAR / PERIOD
3. Portfolio Turnover = Lower of sales or purchase divided by the Average AuM for the year/period.
4. AAuM=Average daily net assets
# MASTF was launched on 16th March, 2018. Since the scheme has not completed one year only since inception return is disclosed.

30
 Notes to Accounts
Annexure - I : to the Abridged Balance Sheet and Revenue Account
for the Year/Period ended september 14, 2017 / March 31, 2018
1 Investments:-
1.1. All the investments are held in the name of the Scheme, as per clause 7 of Seventh Schedule under Regulations 44(1) of SEBI (Mutual Funds)
Regulations, 1996.
1.2. Open position of derivatives as on March 31, 2018 is NIL (Previous year: NIL)
1.3. There are no investments in Associates and Group Companies of the sponsor during the period ended March 31, 2018(Previous year: NIL)
1.4. There are no open positions of Securities Borrowed and / or Lent by the schemes. (Previous year: NIL)
1.5. NPA’s as on March 31, 2018 are NIL (Previous year: NIL)
1.6. Aggregate Unrealised Gain / Loss as at the end of the Financial Year / Period and percentage to net assets.

Scheme Name 2017-2018 2016-2017

Unrealised Gain / % to Net Unrealised Gain / % to Net

(Loss) (Rs. In lakhs.) Assets (Loss) (Rs. In lakhs.) Assets
Mirae Asset India Equity Fund 67,840.44 10.01% 52,067.60 15.27%
Mirae Asset Emerging BlueChip Fund 55,503.75 11.09% 67,413.95 19.09%
Mirae Asset Hybrid Equity Fund 5,588.84 5.04% 4,423.67 9.63%
Mirae Asset Tax Saver Fund 5,109.08 5.65% 3,231.68 10.03%
Mirae Asset Great Consumer Fund 944.56 3.30% 850.94 13.63%
Mirae Asset China Advantage Fund - - 185.89 24.51%
Mirae Asset Cash Management Fund 93.18 0.03% 1.43 0.01%
Mirae Asset Savings Fund (88.77) -0.24% 12.81 0.05%
Mirae Asset Dynamic Bond Fund (14.25) -0.26% 8.83 0.17%
Mirae Asset Short Term Fund 34.29 0.29% - -

1.7. Aggregate Value of Purchase and Sale with Percentage to average assets.

Scheme Name 2017-2018 2016-2017

Purchases % to Net Sales % to Net Purchases % to Net Sales % to Net

(Rs. In lakhs.) Assets (Rs. In lakhs.) Assets (Rs. In lakhs.) Assets (Rs. In lakhs.) Assets
Mirae Asset
India Equity Fund 551,240.19 109.52% 260,736.75 51.80% 307,418.60 129.11% 204,156.54 85.74%
Mirae Asset
Emerging BlueChip Fund 464,412.88 102.17% 357,420.47 78.63% 373,854.47 151.02% 249,151.26 100.65%
Mirae Asset
Hybrid Equity Fund 322,913.21 400.88% 260,668.32 323.61% 123,530.80 407.18% 105,923.90 349.14%
Mirae Asset
Tax Saver Fund 94,175.21 154.16% 41,953.66 68.68% 34,779.96 267.71% 14,811.72 114.01%
Mirae Asset
Great Consumer Fund 27,656.95 197.47% 9,151.44 65.34% 4,875.56 94.94% 3,619.32 70.48%
Mirae Asset
China Advantage Fund 120.49 14.08% 933.13 109.03% - 0.00% 442.64 57.09%
Mirae Asset
Cash Management Fund 1,337,299.99 1727.02% 1,089,139.55 1406.54% 279,408.72 1176.14% 265,549.71 1117.80%
Mirae Asset
Savings Fund 241,795.22 659.90% 227,925.95 622.05% 160,365.35 1048.39% 145,139.31 948.85%
Mirae Asset
Dynamic Bond Fund 209,333.60 2861.61% 206,317.54 2820.38% 6,255.21 130.66% 3,634.79 75.93%
Mirae Asset
Short Term Fund 12,772.27 116.37% 956.79 8.72% - - - -

1.8. Non-Traded securities in the portfolio is NIL (Previous year: NIL)

2 Details of Transaction with Associates under regulation 25(8) are as follows:
(a) Brokerage paid to associates/related parties/group companies of Sponsor/AMC
Name of associate/related Nature of Period Value of transaction* Brokerage
parties/group companies of Association/ covered (in Rs Cr & % of total value (Rs Cr & % of total
Sponsor/AMC Nature of relation of transaction of fund) brokerage paid by the fund)
Mirae Asset Capital Markets (India) Pvt. Ltd. Associate 2016-17 Nil Nil Nil Nil
Mirae Asset Capital Markets (India) Pvt. Ltd. Associate 2017-18 0.33 $0.00 $0.00 0.00%

*Transactions done for purchase/sale of mutual funds units are not considerd while computing total value of transaction

31
 Notes to Accounts
Annexure - I : to the Abridged Balance Sheet and Revenue Account
for the Year/Period ended March 31, 2018 (contd...)
(b) Commission paid to associates/related parties/group companies of sponsor/AMC

Name of associate/related Nature of Association/ Period Business given Brokerage

parties/group companies of Nature of relation covered (Rs. Cr. & % of total business (Rs. Cr. & % of total
Sponsor/AMC received by the fund) brokerage paid by the fund)
SATCO Securities & Financial Commission paid for
2016-17 0.23 0.01% 0.01 1.17%
Services Ltd. procuring unit capital
Chanchal Gopikisan Biyani Commission paid for
2016-17 Nil 0.00% Nil 0.00%
procuring unit capital
SATCO Capital Markets Limited Associate Broker 2017-18 1.92 0.01% 0.03 0.03%
Chanchal Gopikisan Biyani Associate Broker 2017-18 0.17 0.00% 0.00 0.00%

$ indicates less than Rs 50,000 /-

3 Large Holdings in the Scheme (i.e. in excess of 25% of the net assets). Provide details of No. of Investors and total holdings by them in percentage terms.

Name of the Scheme March 31, 2018 March 31, 2017

No. of Investors % Holding No. of Investors % Holding

Mirae Asset India Equity Fund Nil 0.00% Nil 0.00%
Mirae Asset Emerging BlueChip Fund Nil 0.00% Nil 0.00%
Mirae Asset Hybrid Equity Fund Nil 0.00% Nil 0.00%
Mirae Asset Tax Saver Fund Nil 0.00% Nil 0.00%
Mirae Asset Great Consumer Fund Nil 0.00% Nil 0.00%
Mirae Asset China Advantage Fund Nil 0.00% Nil 0.00%
Mirae Asset Cash Management Fund 1 69.05% Nil 0.00%
Mirae Asset Savings Fund Nil 0.00% Nil 0.00%
Mirae Asset Dynamic Bond Fund Nil 0.00% Nil 0.00%
Mirae Asset Short Term Fund Nil 0.00% Nil 0.00%

4 Details of Unit Capital are provided in Annexure 2 to Annexure 4

5 Prior Year Comparatives: The figures of the previous period have been regrouped / rearranged, wherever applicable, to conform to current year’s
presentation
6 Expenses other than management fee is inclusive of GST where applicable.
Guidance Note: Provide corresponding previous year/period figures for all the above disclosures.

32
 SCHEDULE - 1 : Unit Capital
TO THE FINANCIAL STATEMENTS FOR THE YEAR/PERIOD ENDED MARCH 31, 2018
Mirae Asset Cash Management Fund**
March 31, 2018 March 31, 2017
Quantity Amount (Rs. in 000's) Quantity Amount (Rs. in 000's)
Regular - Growth
Outstanding, beginning of year 627,602.879 627,603 239,098.203 239,098
Issued
-new fund offer - - - -
-during the year 16,350,196.532 16,350,197 1,946,474.700 1,946,475
Redeemed during the year (14,462,776.905) (14,462,777) (1,557,970.024) (1,557,970)
Outstanding, end of year 2,515,022.506 2,515,023 627,602.879 627,603
Regular - Daily Dividend
Outstanding, beginning of year 246,790.378 246789 73,252.569 73,252
Issued
-new fund offer - - - -
-during the year 1,254,679.579 1,254,680 667,812.338 667,812
Redeemed during the year (1,036,106.785) (1,036,107) (494,274.529) (494,275)
Outstanding, end of year 465,363.172 465,362 246,790.378 246,789
Regular - Weekly Dividend
Outstanding, beginning of year 122,944.159 122944 65,754.992 65,755
Issued
-new fund offer - - - -
-during the year 808,340.580 808,341 416,305.266 416,305
Redeemed during the year (720,453.697) (720,454) (359,116.099) (359,116)
Outstanding, end of year 210,831.042 210,831 122,944.159 122,944
Regular - Monthly Dividend
Outstanding, beginning of year 33,934.576 33935 29,897.140 29,898
Issued
-new fund offer - - - -
-during the year 81,342.448 81,342 84,981.076 84,981
Redeemed during the year (76,686.582) (76,687) (80,943.640) (80,944)
Outstanding, end of year 38,590.442 38,590 33,934.576 33,935
Direct Plan - Growth option
Outstanding, beginning of year 517,290.717 517290 236,710.369 236,710
Issued
-new fund offer - - - -
-during the year 111,897,939.927 111,897,940 36,280,090.870 36,280,091
Redeemed during the year (100,561,163.180) (100,561,163) (35,999,510.522) (35,999,511)
Outstanding, end of year 11,854,067.464 11,854,067 517,290.717 517,290
Direct Plan - Daily Dividend option
Outstanding, beginning of year 40,549.073 40548 28,478.888 28,478
Issued
-new fund offer - - - -
-during the year 1,851,490.397 1,851,490 128,358.132 128,358
Redeemed during the year (1,724,727.163) (1,724,727) (116,287.947) (116,288)
Outstanding, end of year 167,312.307 167,311 40,549.073 40,548
Direct Plan - Weekly Dividend option
Outstanding, beginning of year 9,007.829 9008 1,146.874 1,147
Issued
-new fund offer - - - -
-during the year 145,557.636 145,558 24,713.714 24,714
Redeemed during the year (107,280.299) (107,280) (16,852.759) (16,853)
Outstanding, end of year 47,285.166 47,286 9,007.829 9,008
Direct Plan - Monthly Dividend option
Outstanding, beginning of year 3,571.866 3,572.00 153.500 154
Issued
-new fund offer - - - -
Issued during the year 23,087.213 23,087 8,451.298 8,451
Redeemed during the year (11,070.386) (11,070) (5,032.932) (5,033)
Outstanding, end of year 15,588.693 15,589 3,571.866 3,572
Total
Outstanding, beginning of year 1,601,691.477 1601692 674,492.535 674,493
Issued
-new fund offer - - - -
-during the year 132,412,634.312 132,412,634 39,557,187.394 39,557,187
Redeemed during the year (118,700,264.997) (118,700,265) (38,629,988.452) (38,629,988)
Outstanding, end of year 15,314,060.792 15,314,061 1,601,691.477 1,601,692
**Note: Details of large holdings (over 25% of the NAV of the Scheme):
Name of the Scheme March 31, 2018 March 31, 2017
No. of Investors % Holding No. of Investors % Holding
Mirae Asset Cash Management Fund 1 69.05% Nil Nil

33
34
SCHEDULE - 1 : Unit Capital
TO THE FINANCIAL STATEMENTS FOR THE YEAR/PERIOD ENDED MARCH 31, 2018
MIRAE ASSET INDIA EQUITY FUND** MIRAE ASSET EMERGING BLUECHIP FUND**
31 March, 2018 31 March, 2017 31 March, 2018 31 March, 2017
Quantity Amount Quantity Amount Quantity Amount Quantity Amount
(Rs. in 000's) (Rs. in 000's) (Rs. in 000's) (Rs. in 000's)
Growth Option
Outstanding, beginning of year 536,436,096.475 5,364,361 356,080,668.010 3,560,807 623,803,370.527 6,238,033 312,251,396.871 3,122,513
Issued
-new fund offer - - - - - - - -
-during the year 573,584,510.691 5,735,845 270,358,067.770 2,703,581 297,369,739.147 2,973,697 365,604,361.938 3,656,044
Redeemed during the year (145,186,165.679) (1,451,862) (90,002,639.305) (900,026) (120,369,965.780) (1,203,700) (54,052,388.282) (540,524)
Outstanding, end of year 964,834,441.487 9,648,344 536,436,096.475 5,364,361 800,803,143.894 8,008,030 623,803,370.527 6,238,033
Dividend Option
Outstanding, beginning of year 339,601,476.987 3,396,013 220,660,779.434 2,206,607 147,517,640.261 1,475,176 134,281,801.111 1,342,818
Issued
-new fund offer - - - - - - - -
-during the year 178,579,551.391 1,785,796 178,498,212.692 1,784,982 24,479,979.857 244,800 83,015,850.197 830,159
Redeemed during the year (175,081,334.776) (1,750,813) (59,557,515.139) (595,575) (36,674,041.445) (366,740) (69,780,011.047) (697,800)
Outstanding, end of year 343,099,693.602 3,430,996 339,601,476.987 3,396,013 135,323,578.673 1,353,236 147,517,640.261 1,475,176
Direct Plan - Growth option
Outstanding, beginning of year 135,970,909.336 1,359,711 55,452,973.085 554,531 96,485,152.474 964,851 32,656,382.131 326,564
Issued
-new fund offer - - - - - - - -
-during the year 251,848,092.151 2,518,481 89,986,269.522 899,864 76,592,694.582 765,927 68,897,584.870 688,976
Redeemed during the year (12,989,055.445) (129,891) (9,468,333.271) (94,683) (17,262,564.180) (172,626) (5,068,814.527) (50,688)
Outstanding, end of year 374,829,946.042 3,748,301 135,970,909.336 1,359,711 155,815,282.876 1,558,152 96,485,152.474 964,851
Direct Plan - Dividend option
Outstanding, beginning of year 24,128,720.572 241,287 7,194,816.415 71,948 9,816,622.324 98,166 3,153,098.958 31,531
Issued
-new fund offer - - - - - - - -
-during the year 18,007,018.753 180,070 18,028,126.485 180,281 2,408,381.395 24,084 8,159,635.752 81,596
Redeemed during the year (12,443,126.830) (124,431) (1,094,222.328) (10,942) (3,870,640.061) (38,706) (1,496,112.386) (14,961)
Outstanding, end of year 29,692,612.495 296,926 24,128,720.572 241,287 8,354,363.658 83,544 9,816,622.324 98,166
Total
Outstanding, beginning of year 1,036,137,203.370 10,361,372 639,389,236.944 6,393,891 877,622,785.586 8,776,227 482,342,679.071 4,823,426
Issued
-new fund offer - - - - - - - -
-during the year 1,022,019,172.986 10,220,192 556,870,676.469 5,568,707 400,850,794.981 4,008,508 525,677,432.757 5,256,774
Redeemed during the year (345,699,682.730) (3,456,997) (160,122,710.043) (1,601,227) (178,177,211.466) (1,781,772) (130,397,326.242) (1,303,973)
Outstanding, end of year 1,712,456,693.626 17,124,567 1,036,137,203.370 10,361,372 1,100,296,369.101 11,002,963 877,622,785.586 8,776,227

**Note: Details of large holdings (over 25% of the NAV of the Scheme):
Name of the Scheme March 31, 2018 March 31, 2017
No. of Investors % Holding No. of Investors % Holding
Mirae Asset India Equity Fund Nil - Nil -
Mirae Asset Emerging Bluechip Fund Nil - Nil -
 SCHEDULE - 1 : Unit Capital
TO THE FINANCIAL STATEMENTS FOR THE YEAR/PERIOD ENDED MARCH 31, 2018
MIRAE ASSET HYBRID EQUITY FUND** MIRAE ASSET TAX SAVER FUND**
31 March, 2018 31 March, 2017 31 March, 2018 31 March, 2017
Quantity Amount Quantity Amount Quantity Amount Quantity Amount
(Rs. in 000's) (Rs. in 000's) (Rs. in 000's) (Rs. in 000's)
Growth Option
Outstanding, beginning of year 274,318,273.585 2,743,183 145,184,258.829 1,451,843 191,847,367.164 1,918,474 36,799,405.209 367,994
Issued
-new fund offer - - - - - -
-during the year 380,473,796.502 3,804,738 159,892,740.257 1,598,927 271,055,890.431 2,710,559 155,047,961.955 1,550,480
Redeemed during the year (39,045,910.158) (390,459) (30,758,725.501) (307,587) (320,133.677) (3,201) - -
Outstanding, end of year 615,746,159.929 6,157,462 274,318,273.585 2,743,183 462,583,123.918 4,625,832 191,847,367.164 1,918,474
Dividend Option
Outstanding, beginning of year 88,938,529.186 889,385 47,834,417.648 478,344 37,657,434.976 376,574 8,930,349.964 89,303
Issued
-new fund offer - - - - - -
-during the year 136,961,255.467 1,369,613 52,100,536.687 521,005 31,197,595.135 311,976 28,727,085.012 287,271
Redeemed during the year (22,243,975.895) (222,440) (10,996,425.149) (109,964) - - - -
Outstanding, end of year 203,655,808.758 2,036,558 88,938,529.186 889,385 68,855,030.111 688,550 37,657,434.976 376,574
Direct Plan - Growth option
Outstanding, beginning of year 20,294,741.205 202,947 3,029,621.562 30,296 13,583,418.636 135,834 2,866,770.984 28,668
Issued
-new fund offer - - - - - -
-during the year 18,744,132.656 187,441 17,453,747.625 174,537 37,879,140.542 378,791 10,716,647.652 107,166
Redeemed during the year (3,047,828.550) (30,478) (188,627.982) (1,886) - - - -
Outstanding, end of year 35,991,045.311 359,910 20,294,741.205 202,947 51,462,559.178 514,625 13,583,418.636 135,834
Direct Plan - Dividend option
Outstanding, beginning of year 1,064,030.778 10,640 464,046.148 4,640 1,337,144.518 13,371 351,860.490 3,519
Issued
-new fund offer - - - - - -
-during the year 2,287,782.413 22,878 756,176.313 7,562 1,936,543.443 19,365 985,284.028 9,853
Redeemed during the year (404,006.239) (4,040) (156,191.683) (1,562) (9,466.166) (95) - -
Outstanding, end of year 2,947,806.952 29,478 1,064,030.778 10,640 3,264,221.795 32,641 1,337,144.518 13,371
Total
Outstanding, beginning of year 384,615,574.754 3,846,156 196,512,344.187 1,965,123 244,425,365.294 2,444,254 48,948,386.647 489,484
Issued
-new fund offer - - - - - - - -
-during the year 538,466,967.038 5,384,670 230,203,200.882 2,302,032 342,069,169.551 3,420,691 195,476,978.647 1,954,770
Redeemed during the year (64,741,720.842) (647,417) (42,099,970.315) (421,000) (329,599.843) (3,296) - -
Outstanding, end of year 858,340,820.950 8,583,408 384,615,574.754 3,846,156 586,164,935.002 5,861,649 244,425,365.294 2,444,254

**Note: Details of large holdings (over 25% of the NAV of the Scheme):
Name of the Scheme March 31, 2018 March 31, 2017
No. of Investors % Holding No. of Investors % Holding
Mirae Asset Hybrid Equity Fund Nil - Nil -
Mirae Asset Tax Saver Fund Nil - Nil -

35
36
SCHEDULE - 1 : Unit Capital
TO THE FINANCIAL STATEMENTS FOR THE YEAR/PERIOD ENDED MARCH 31, 2018
MIRAE ASSET GREAT CONSUMER FUND** MIRAE ASSET CHINA ADVANTAGE FUND**
31 March, 2018 31 March, 2017 14 September, 2017 31 March, 2017
Quantity Amount Quantity Amount Quantity Amount Quantity Amount
(Rs. in 000's) (Rs. in 000's) (Rs. in 000's) (Rs. in 000's)
Growth Option
Outstanding, beginning of year 19,426,259.141 194,263 15,790,650.816 157,907 2,638,734.314 26,387 5,694,663.073 56,947
Issued
-new fund offer - - - - - - - -
-during the year 55,199,779.558 551,998 7,420,268.712 74,203 324,253.790 3,243 719,579.464 7,196
Redeemed during the year (3,828,015.472) (38,280) (3,784,660.387) (37,847) (530,569.166) (5,306) (3,775,508.223) (37,755)
Outstanding, end of year 70,798,023.227 707,981 19,426,259.141 194,263 2,432,418.938 24,324 2,638,734.314 26,387
Dividend Option
Outstanding, beginning of year 6,320,597.429 63,206 3,392,417.178 33,924 882,365.836 8,824 1,127,370.327 11,274
Issued
-new fund offer - - - - - - - -
-during the year 18,861,980.256 188,620 4,174,218.472 41,742 48,048.228 480 83,049.360 830
Redeemed during the year (2,356,086.040) (23,561) (1,246,038.221) (12,460) (224,035.836) (2,240) (328,053.851) (3,281)
Outstanding, end of year 22,826,491.645 228,265 6,320,597.429 63,206 706,378.228 7,064 882,365.836 8,824
Direct Plan - Growth option
Outstanding, beginning of year 1,095,930.633 10,959 998,761.477 9,988 1,622,418.758 16,224 891,044.522 8,910
Issued
-new fund offer - - - - - - - -
-during the year 6,250,437.180 62,504 510,631.489 5,106 1,004,228.908 10,042 901,153.399 9,012
Redeemed during the year (528,620.342) (5,286) (413,462.333) (4,135) (1,504,026.390) (15,040) (169,779.163) (1,698)
Outstanding, end of year 6,817,747.471 68,177 1,095,930.633 10,959 1,122,621.276 11,226 1,622,418.758 16,224
Direct Plan - Dividend option
Outstanding, beginning of year 145,508.640 1,456 45,773.953 458 15,695.563 157 26,618.393 266
Issued
-new fund offer - - - - - - - -
-during the year 493,776.965 4,938 109,425.236 1,094 14,846.712 148 11,088.529 111
Redeemed during the year (59,018.101) (590) (9,690.549) (97) (2,029.221) (20) (22,011.359) (220)
Outstanding, end of year 580,267.504 5,804 145,508.640 1,456 28,513.054 285 15,695.563 157
Total
Outstanding, beginning of year 26,988,295.843 269,884 20,227,603.424 202,277 5,159,214.471 51,592 7,739,696.315 77,397
Issued
-new fund offer - - - - - - - -
-during the year 80,805,973.959 808,060 12,214,543.909 122,145 1,391,377.638 13,913 1,714,870.752 17,149
Redeemed during the year (6,771,739.955) (67,717) (5,453,851.490) (54,539) (2,260,660.613) (22,606) (4,295,352.596) (42,954)
Outstanding, end of year 101,022,529.847 1,010,225 26,988,295.843 269,884 4,289,931.496 42,899 5,159,214.471 51,592

**Note: Details of large holdings (over 25% of the NAV of the Scheme):
Name of the Scheme March 31, 2018 March 31, 2017
No. of Investors % Holding No. of Investors % Holding
Mirae Asset Great Consumer Fund Nil - Nil -
Mirae Asset China Advantage Fund Nil - Nil -
 SCHEDULE - 1 : Unit Capital
TO THE FINANCIAL STATEMENTS FOR THE YEAR/PERIOD ENDED MARCH 31, 2018
MIRAE ASSET SAVINGS FUND
March 31, 2018 March 31, 2017
Quantity Amount (Rs. in 000's) Quantity Amount (Rs. in 000's)
Regular Plan - Growth option
Outstanding, beginning of year/period 399.137 399 554.397 554
Issued
-new fund offer - - - -
-during the year/period - - - -
Redeemed during the year/period (29.521) (30) (155.260) (155)
Outstanding, end of year/period 369.616 369 399.137 399
Regular Plan - Dividend option
Outstanding, beginning of year/period 460.949 460 689.486 689
Issued
-new fund offer - - - -
-during the year/period - - - -
Redeemed during the year/period (91.412) (91) (228.537) (229)
Outstanding, end of year/period 369.537 369 460.949 460
Regular Plan - Weekly Dividend option
Outstanding, beginning of year/period 2.060 2 2.060 2
Issued
-new fund offer - - - -
-during the year/period - - - -
Redeemed during the year/period (1.831) (2) - -
Outstanding, end of year/period 0.229 - 2.060 2
Regular Plan - Monthly Dividend option
Outstanding, beginning of year/period 55.152 55 124.693 125
Issued
-new fund offer - - - -
-during the year/period - - - -
Redeemed during the year/period (55.152) (55) (69.541) (70)
Outstanding, end of year/period - - 55.152 55.000
Regular Savings Plan - Growth option
Outstanding, beginning of year/period 930,564.438 930,565 242,146.378 242,147
Issued
-new fund offer - - - -
-during the year/period 4,433,989.161 4,433,989 2,102,821.716 2,102,822
Redeemed during the year/period (3,837,448.848) (3,837,449) (1,414,403.656) (1,414,404)
Outstanding, end of year/period 1,527,104.751 1,527,105 930,564.438 930,565
Regular Savings Plan - Quarterly Dividend option
Outstanding, beginning of year/period 2,648.416 2,649 4,851.311 4,852
Issued
-new fund offer - - - -
-during the year/period 7,032.901 7,033 2,659.005 2,659
Redeemed during the year/period (7,301.048) (7,301) (4,861.900) (4,862)
Outstanding, end of year/period 2,380.269 2,381 2,648.416 2,649
Regular Savings Plan - Weekly Dividend option
Outstanding, beginning of year/period 120,541.434 120,542 31,985.145 31,986
Issued
-new fund offer - - - -
-during the year/period 665,895.040 665,895 334,188.436 334,188
Redeemed during the year/period (597,214.977) (597,215) (245,632.147) (245,632)
Outstanding, end of year/period 189,221.497 189,222 120,541.434 120,542
Regular Savings Plan - Monthly Dividend option
Outstanding, beginning of year/period 58,100.884 58,101 22,935.426 22,936
Issued
-new fund offer - - - -
Issued during the year/period 125,042.806 125,043 78,980.154 78,980
Redeemed during the year/period (115,058.368) (115,058) (43,814.696) (43,815)
Outstanding, end of year/period 68,085.322 68,086 58,100.884 58,101

37
 SCHEDULE - 1 : Unit Capital
TO THE FINANCIAL STATEMENTS FOR THE YEAR/PERIOD ENDED MARCH 31, 2018 (contd...)
MIRAE ASSET SAVINGS FUND
March 31, 2018 March 31, 2017
Quantity Amount (Rs. in 000's) Quantity Amount (Rs. in 000's)
Regular Savings Plan - Daily Dividend option
Outstanding, beginning of year/period 211,697.802 211,698 84,038.106 84,039
Issued
-new fund offer - - - -
Issued during the year/period 924,401.846 924,402 608,288.367 608,288
Redeemed during the year/period (859,134.649) (859,135) (480,628.671) (480,629)
Outstanding, end of year/period 276,964.999 276,965 211,697.802 211,698
Direct Plan - Growth option
Outstanding, beginning of year/period 467,717.380 467,717 308,134.911 308,135
Issued
-new fund offer - - - -
-during the year/period 867,900.758 867,901 911,528.351 911,528
Redeemed during the year/period (811,342.162) (811,342) (751,945.882) (751,946)
Outstanding, end of year/period 524,275.976 524,276 467,717.380 467,717
Direct Plan - Daily Dividend option
Outstanding, beginning of year/period 10,013.200 10,014 5,662.924 5,663
Issued
-new fund offer - - - -
-during the year/period 84,018.438 84,018 77,470.722 77,471
Redeemed during the year/period (83,004.336) (83,004) (73,120.446) (73,120)
Outstanding, end of year/period 11,027.302 11,028 10,013.200 10,014
Direct Plan - Weekly Dividend option
Outstanding, beginning of year/period 1,566.452 1,566 413.874 413
Issued
-new fund offer - - - -
-during the year/period 19,756.408 19,756 7,704.812 7,705
Redeemed during the year/period (18,675.841) (18,676) (6,552.234) (6,552)
Outstanding, end of year/period 2,647.019 2,646 1,566.452 1,566
Direct Plan - Monthly Dividend option
Outstanding, beginning of year/period 5,614.051 5,615 171.657 172
Issued
-new fund offer - - - -
Issued during the year/period 6,518.678 6,519 6,832.633 6,833
Redeemed during the year/period (7,713.621) (7,714) (1,390.239) (1,390)
Outstanding, end of year/period 4,419.108 4,420 5,614.051 5,615
Direct Plan - Quarterly Dividend option
Outstanding, beginning of year/period 390.998 392 306.323 307
Issued
-new fund offer - - - -
Issued during the year/period 532.869 533 253.571 254
Redeemed during the year/period (383.869) (384) (168.896) (169)
Outstanding, end of year/period 539.998 541 390.998 392
Total
Outstanding, beginning of year/period 1,809,773.662 1,809,775 702,017.000 702,020
Issued
-new fund offer - - - -
-during the year/period 7,135,088.905 7,135,089 4,130,727.767 4,130,728
Redeemed during the year/period (6,337,455.635) (6,337,456) (3,022,972.105) (3,022,973)
Outstanding, end of year/period 2,607,405.932 2,607,408 1,809,773.662 1,809,775

**Note: Details of large holdings (over 25% of the NAV of the Scheme):
Name of the Scheme March 31, 2018 March 31, 2017
No. of Investors % Holding No. of Investors % Holding
Mirae Asset Savings Fund Nil Nil Nil Nil

38
 SCHEDULE - 1 : Unit Capital
TO THE FINANCIAL STATEMENTS FOR THE YEAR/PERIOD ENDED MARCH 31, 2018
MIRAE ASSET DYANMIC BOND FUND MIRAE ASSET SHORT TERM FUND#
March 31, 2018 March 31, 2017 March 31, 2018
Quantity Amount (Rs. in 000's) Quantity Amount (Rs. in 000's) Quantity Amount (Rs. in 000's)
Regular Plan - Growth option
Outstanding, beginning of year/period 45,727,108.789 457,271 - - - -
Issued
-new fund offer - - 39,757,946.758 397,579 - -
-during the year/period 29,315,784.309 293,158 5,979,186.659 59,792 105,004,391.550 1,050,044
Redeemed during the year/period (38,224,160.150) (382,242) (10,024.628) (100) (149,967.022) (1,500)
Outstanding, end of year/period 36,818,732.948 368,187 45,727,108.789 457,271 104,854,424.528 1,048,544
Regular Plan - Dividend option
Outstanding, beginning of year/period 3,814,179.995 38,142 - - - -
Issued
-new fund offer - - 3,803,427.128 38,034 - -
-during the year/period 785,113.054 7,851 10,752.867 108 4,915,821.101 49,158
Redeemed during the year/period (2,135,513.549) (21,355) - - - -
Outstanding, end of year/period 2,463,779.500 24,638 3,814,179.995 38,142 4,915,821.101 49,158
Direct Plan - Growth option
Outstanding, beginning of year/period 2,975,459.598 29,755 - - - -
Issued
-new fund offer - - 2,687,480.181 26,875 - -
-during the year/period 12,282,859.121 122,829 287,979.417 2,880 8,908,883.062 89,089
Redeemed during the year/period (2,078,859.995) (20,789) - - - -
Outstanding, end of year/period 13,179,458.724 131,795 2,975,459.598 29,755 8,908,883.062 89,089
Direct Plan - Daily Dividend option
Outstanding, beginning of year/period 115,100.000 1,151 - - - -
Issued
-new fund offer - - 115,100.000 1,151 - -
-during the year/period 112,817.595 1,128 - - 51,016.184 510
Redeemed during the year/period (36,819.199) (368) - - - -
Outstanding, end of year/period 191,098.396 1,911 115,100.000 1,151 51,016.184 510
Total
Outstanding, beginning of year/period 52,631,848.000 526,319 - - - -
Issued
-new fund offer - - 46,363,954.067 463,640 - -
-during the year/period 42,496,574.079 424,966 6,277,918.943 62,779 118,880,111.897 1,188,801
Redeemed during the year/period (42,475,352.893) (424,754) (10,024.628) (100) (149,967.022) (1,500)
Outstanding, end of year/period 52,653,069.568 526,531 52,631,848.382 526,319 118,730,145.000 1,187,301
# MASTF was launched on 16th March, 2018, hence previous years’ figures are not provided.
Name of the Scheme March 31, 2018 March 31, 2017
No. of Investors % Holding No. of Investors % Holding
Mirae Asset Dynamic Bond Fund Nil 0.00% Nil 0.00%
Mirae Asset Short Term Fund Nil 0.00% Nil 0.00%
 Book-Post / Courier

In case undelivered, the same needs to be returned to For more information

“Karvy Computershare Private Limited”, 1-800-2090-777 (Toll free)
Unit - Mirae Asset Mutual Fund SMS “INVEST” to 92430 00300
www.miraeassetmf.co.in
Karvy Selenium, Tower B, Plot No.31 & 32, Financial District,
customercare@miraeasset.com
Gachibowli, Hyderabad - 500 032

INVESTOR SERVICE CENTRES (ISC) - Karvy Computershare Private Limited (REGISTRAR)

• Adayar - New No.51, Gandhi Nagar, First Main Road, Adayar - 600020 • Agra - 1st Floor, Deepak Wasan Plaza, Behind Holiday Inn, Opp Megdoot
Furnitures,Sanjay Place - 282002 • Ahmedabad - 201/202 Shail, Opp: Madhusudan House, Navrangpura - 380006 • Ajmer - S. No. 1 & 2, 2nd Floor, Ajmer
Tower, Kutchery Road - 305001 • Allahabad - Rsa Towers, 2nd Floor, Above Sony Tv Showroom, 57, S P Marg, Civil Lines - 211001 • Amritsar - 72-A, Taylor’S
Road, Opp Aga Heritage Club - 143001 • Anand - B-42 Vaibhav Commercial Center, Nr Tvs Down Town Shrow Room, Grid Char Rasta - 380001 • Asansol -
114/71 G T Road, Near Sony Centre, Bhanga Pachil, Asansol - 713303 • Aurangabad - Ramkunj Niwas, Railway Station Road, Near Osmanpura Circle - 431005
• Balasore - Gopalgaon, M.S Das Street, Gopalgaon, Balasore,Orissa - 756001 • Bangalore - 59, Skanda puttanna Road, Basavanagudi - 560004 • Baroda
- Sb-5, Mangaldeep Complex, Opp. Masonic Hall, Productivity Road, Alkapuri, - 390007 • Bharuch - Shop No 147-148, Aditya Complex, Near Kasak Circle -
392001 • Bhavnagar - Office No 306-307, 3rd Floor, Krushna Darshan Complex, Above Jed Blue Show Room, Parimal Chowk, - 364002 • Bhilai - Shop No -1,
First Floor, Plot No -1, Commercial Complex, Nehru Nagar- East - 490020 • Bhopal - Kay Kay Business Centre, 133, Zone I, Mp Nagar, Above City Bank - 462011
• Bhubaneswar - A/181, Back Side Of Shivam Honda Show Room, Saheed Nagar, - 751007 • Burdwan - 63 Gt Road, Halder Complex 1st Floor, - 713101
• Calicut - Iind Floor Soubhagya Shopping Complex, Arayidathpalam, Mavoor Road - 673004 • Chandigarh - SCO 2423-2424, Sector 22-C, - 160022 •
Chennai - F-11, Akshaya Plaza, 1st Floor, 108, Adhithanar Salai, Egmore, Opp To Chief Metropolitan Courier - 600002 • Cochin - Ali Arcade, 1st Floor,Kizhavana
Road, Panampilly Nagar, Near Atlantis Junction - 682036 • Coimbatore - 1057, Jaya Enclave, 3rd Floor, Avinashi Road, - 641018 • Cuttack - Po - Buxi
Bazar, Cuttack, Opp Dargha Bazar, Dargha Bazar - 753001 • Dalhousie# - 2nd Floor, No.226, Martin Burn Building 1, R N Mukherjee Road, Opp. Lal Bazar
Police H Q, Dalhousie - 700001 • Dehradun - Kaulagarh Road, Near Sirmaur Margabove, Reliance Webworld - 248001 • Dhanbad - 208 New Market 2nd
Floor, Bank More, - 826001 • Durgapur - M W A V - 16, Bengal Ambuja, 2nd Floor, City Centre, - 713216 • Faridabad - A-2B, Ist Floor, Nehru Groundnit, -
121001 • Gandhinagar - Plot No - 945/2, Sector - 7/C, Opp Pathika - 382007 • Ghaziabad - 1st Floorc-7, Lohia Nagar, - 201001 • Gorakhpur - Above V.I.P.
Houseajdacent, A.D. Girls College, Bank Road - 273001 • Gurgaon - Shop No.18, Ground Floor,Sector - 14, Opp. Akd Tower, Near Huda Office - 122001
• Guwahati - 54 Sagarika Bhawan 2nd Floor, R G Barooah Road, Aidc, Near Baskin Robbins - 781024 • Hubli - 22nd & 23Rd, 3Rd Floor, Eureka Junction,
Travellers Bunglow - 580029 • Hyderabad - Karvy Centre, 8-2-609/K, Avenue 4, Street No 1, Banjara Hills - 500034 • Indore - 2nd Floor, 203-205, Balaji
Corporates, Above ICICI Bank, 19/1, New Palasia, - 452001 • Jabalpur - Grover Chamber, 43 Naya Bazar, Malviya Chowk, Opposite Shyam Market, Jabalpur
- 482002 • Jaipur - S16/A Iiird Floor, Land Mark Building Opp Jai Club, Mahaver Marg C Scheme - 302001 • Jalandhar - Arora Prime Tower, Lowe Ground
Floor, Office No 3 Plot No 28 - 144001 • Jamnagar - 136-137-138, Madhav Palaza, Opp SBI Bank, Nr Lal Bunglow - 361001 • Jamshedpur - 2nd Floor,
R R Square, SB Shop Area, Near Reliance Footprint and Hotel, BS Park Plaza, Main Road, Bistupur - 831001 • Jhansi - 371/01, Narayan Plaza, Gwalior
Road, Near Jeevan Shah Chauraha - 284001 • Jodhpur - 203, Modi Arcade, Chopasni Road, - 342001 • Kanpur - 15/46, B, Ground Floor, Opp : Muir Mills,
Civil Lines - 208001 • Kharagpur# - 180, Malancha Road, Beside Axis Bank Ltd, Kharagpur, - 721304 • Kolhapur - 605/1/4 E Ward, Shahupuri 2nd Lane,
Laxmi Niwas, Near Sultane Chambers - 416001 • Kolkata - 166 A Rashbihari Avenue 2nd Floor, -, Opp- Fortish Hospital - 700029 • Lucknow - 1st Floor, A.A.
Complex, Thaper House, 5 Park Road, Hazratganj, - 226001 • Ludhiana - Sco - 136, 1st Floor Above Airtel Showroom, Feroze Gandhi Market - 141001 •
Madurai - Rakesh towers, 30-C, Ist Floor, Bye pass Road, Opp Nagappa motors, - 625010 • Mangalore - Mahendra Arcade, Opp. Court Road, Karangal Padi,
Mangalore - 575003 • Mehsana - Ul/47 Apollo Enclave, Opp Simandhar Temple, Modhera Cross Road - 384002 • Moradabad - Om Arcade, Parker Road,
Above Syndicate Bank,Chowk Tari Khana - 244001 • Mumbai-Borivali# - Ground Floor, Himanshu Bldg, Sodawala Lane, Lina Chandawarkar Road, Borivali -
400091 • Mumbai-Chembur# - Shop No.4, Ground Floor, Shram Safalya Building, N G Acharya Marg, Chembur - 400071 • Mumbai-Fort - 24/B, Raja Bahadur
Compound, Ambalal Doshi Marg, Behind BSE Bldg, Fort - 400001 • Mumbai-Thane# - 101, Yashwant Building, Ram Ganesh, Gadkari Path, Ram Maruti
Road, Naupada, Thane - 400602 • Mumbai-Vashi# - Shop No-153-B, Grnd Floor, Plot No 80-81, Vashi Plaza, Sector 17, Near Apna Bazar, Vashi - 400705
• Mumbai-Vile Parle# - 104, Sangam Arcade, V P Road, Opp. Railway Station, Above Axis Bank, Vile Parle West - 400056 • Muzaffarpur - I St Floor, Uma
Market, Thana Gumtimoti Jheel - 842001 • Mysore - L-350,Silver Tower, Ashoka Road, Opp.Clock Tower - 570001 • Nadiad - 104/105, Near Paras Cinema,
City Point Nadiad - 387001 • Nagpur - Plot No 2/1 House No 102/1, Mata Mandir Road, Mangaldeep Appartment Opp Khandelwal Jewelers, Dharampeth -
440010 • Nasik - F-1, Suyojit Sankul, Sharanpur Road, Near Rajiv Gandhi Bhavan, Nasik - 422002 • Navsari - 1/1 Chinmay Aracade, Opp. Sattapir Road,
Tower Road, Navsari - 396445 • New Delhi - 305 New Delhi House, 27 Barakhamba Road, Connaught Place - 110001 • Noida - 405, 4th Floor, Vishal Chamber,
Plot No -1, Sector-18, - 201301 • Panipat - 1st Floor, Krishna Tower, Above Amertex,G.T. Road, - 132103 • Panjim - City Business Centre, Coelho Pereira
Building, Room No. 18,19 & 20, Dada Vaidya Road, Panjim - 403001 • Patiala - Sco 27 D, Chotti Baradari, Near Car Bazaar - 147001 • Patna - 3A, 3Rd Floor
Anand Tower, Exhibition Road, Opp Icici Bank - 800001 • Pondicherry - No:7, Thiayagaraja Street, - 605001 • Pune - Mozaic Bldg., CTS No. 1216/1, Final Plot
No.576/1 TP, Scheme No. 1, F C Road, Bhamburda, Shivaji Nagar, - 411004 • Raipur - 2 & 3 Lower Level, Millenium Plaza, Room No. Ll 2& 3, Behind Indian
Coffee House, - 492001 • Rajkot - 104, Siddhi Vinyak Com. Opp Ramkrishna Ashram, Dr Yagnik Road, Rajkot - 360001 • Ranchi - Room No 307 3Rd Floor,
Commerce Tower, Beside Mahabir Tower - 834001 • Rourkella# - 1st Floor, Sandhu Complex, Kacheri Road, Udit Nagar, Rourkella - 769012 • Salem - No.40,
2nd Floor, Brindavan Road, Fairlands, Near Perumal Koil, Salem - 636016 • Secunderabad# - C/o Karvy Fin.Ser.Ltd, 1st Floor, Thirumala Complex, Paradise
Circle, S.D Road, Opp. Hotel Kamat, - 500003 • Siliguri - Nanak Complex, Sevoke Road, - 734001 • Surat - G-5 Empire State Buliding, Nr Udhna Darwaja,
Ring Road - 395002 • Trichy - 60, Sri Krishna Arcade, Thennur High Road, - 620017 • Trivandrum - 2nd Floor, Akshaya Tower, Sasthamangalam - 695010
• Udaipur - 201-202, Madhav Chambers, Opp G P O, Chetak Circle - 313001 • Valsad - Shop No 2, Phiroza Corner, Opp Next Show Room, Tithal Road -
396001 • Vapi - Shop No-12, Ground Floor, Sheetal Appatment, Near K P Tower - 396195 • Varanasi - D-64/132, 1st Floor, Anant Complex, Sigra, Varanasi
- 221010 • Vellore - No.1, M N R Arcade, Officers Line, Krishna Nagar, Vellore - 632001 • Vijayawada - 39-10-7, Opp : Municipal Water Tank, Labbipet - 520010
• Visakhapatnam - Door No 48-8-7, Dwaraka Diamond, Ground Floor, Srinagar - 530016 • Warrangal - 5-6-95, 1st Floor, Opp. B Ed College, Lashkar Bazar,
Chandra Complex, Hanmakonda - 506001. For updates Branch/sales offices and investor service centres address please log on to www.miraeassetmf.co.in