"We trust that you will avoid using harsh language and will refrain from making unsubstantiated allegations against individuals and firms. Your constructive feedback and opinions are very valuable to all of us in the industry. "
The success of Mirae Asset funds is primarily because of excellent fund performance. The investment team has done a remarkable job. However, the same cannot be said about other departments. The response level has decreased with time from both sales and operations side. Also, the management has failed to respond to changing operational environment. First, the NACH forms were introduced by several AMCs months before. Mirae is one of the last AMCs to do so at last moment. Even on 15th February 2016, their local team had no clue about new NACH forms being introduced, despite we following up with them from our side. Second, the fund house has yet not joined MFU which is surprising as this is an industry initiative. We have followed up with local sales team for the same, but in vain. Already we have started passing business to other AMCs on MFU platform which would have otherwise gone to Mirae.