Mirae Asset Banking and Financial Services Fund Direct Growth

Fund Overview

Fund Size

₹1,703 Cr

Expense Ratio

0.59%

ISIN

INF769K01GX9

Minimum SIP

₹1,000

Exit Load

1.00%

Inception Date

11 Dec 2020

About this fund

Mirae Asset Banking and Financial Services Fund Direct Growth is a Sector - Financial Services mutual fund schemes offered by Mirae Asset India Mutual Fund. This fund has been in existence for 3 years, 5 months and 7 days, having been launched on 11-Dec-20.
As of 17-May-24, it has a Net Asset Value (NAV) of ₹18.02, Assets Under Management (AUM) of 1702.61 Crores, and an expense ratio of 0.59%.

Mirae Asset Banking and Financial Services Fund Direct Growth has given a CAGR return of 18.72% since inception.
The fund's asset allocation comprises around 98.30% in equities, 0.00% in debts, and 1.70% in cash & cash equivalents.
You can start investing in Mirae Asset Banking and Financial Services Fund Direct Growth with a SIP of ₹1000 or a Lumpsum investment of ₹5000.

Performance against Category Average

In this section, we compare the returns of the scheme with the category average over various periods. Periods for which the fund has outperformed its category average are marked in green, otherwise red.

1 Year

+24.28%

+18.76% (Cat Avg.)

3 Years

+17.04%

+18.03% (Cat Avg.)

Since Inception

+18.72%

— (Cat Avg.)

Portfolio Summaryas of 30th April 2024

Equity	₹1,673.7 Cr	98.30%
Others	₹28.91 Cr	1.70%

Top Holdings

All Holdings

Equity

Debt & Others

Name	Type	Amount	Holdings
HDFC Bank Ltd	Equity	₹310.7 Cr	18.25%
ICICI Bank Ltd	Equity	₹303.58 Cr	17.83%
State Bank of India	Equity	₹156.87 Cr	9.21%
Axis Bank Ltd	Equity	₹132.57 Cr	7.79%
The Federal Bank Ltd	Equity	₹103.59 Cr	6.08%
Shriram Finance Ltd	Equity	₹56.9 Cr	3.34%
LIC Housing Finance Ltd	Equity	₹54.37 Cr	3.19%
India Shelter Finance Corporation Ltd	Equity	₹47.26 Cr	2.78%
Fusion Micro Finance Ltd	Equity	₹46.5 Cr	2.73%
SBI Life Insurance Company Limited	Equity	₹43.12 Cr	2.53%
Utkarsh Small Finance Bank Ltd	Equity	₹42.86 Cr	2.52%
Bajaj Finance Ltd	Equity	₹40.16 Cr	2.36%
Kotak Mahindra Bank Ltd	Equity	₹37.9 Cr	2.23%
Treps	Cash - Repurchase Agreement	₹33.64 Cr	1.98%
Max Financial Services Ltd	Equity	₹32.09 Cr	1.88%
Power Finance Corp Ltd	Equity	₹30.99 Cr	1.82%
SBI Cards and Payment Services Ltd Ordinary Shares	Equity	₹29.09 Cr	1.71%
IIFL Finance Ltd	Equity	₹28.99 Cr	1.70%
IndusInd Bank Ltd	Equity	₹23.51 Cr	1.38%
Cholamandalam Financial Holdings Ltd	Equity	₹22.21 Cr	1.30%
Repco Home Finance Ltd	Equity	₹20.36 Cr	1.20%
Karnataka Bank Ltd	Equity	₹19.71 Cr	1.16%
General Insurance Corp of India	Equity	₹17.18 Cr	1.01%
Canara Bank	Equity	₹16.93 Cr	0.99%
Five-Star Business Finance Ltd	Equity	₹15.19 Cr	0.89%
CARE Ratings Ltd	Equity	₹12.86 Cr	0.76%
KFin Technologies Ltd	Equity	₹11.56 Cr	0.68%
Ujjivan Financial Services Limited	Equity	₹8.99 Cr	0.53%
ICICI Securities Ltd	Equity	₹5.36 Cr	0.31%
Net Receivables / (Payables)	Cash	₹-4.74 Cr	0.28%
One97 Communications Ltd	Equity	₹1.12 Cr	0.07%
Iifl Fin	Equity	₹0.76 Cr	0.04%
REC Ltd	Equity	₹0.43 Cr	0.03%

Allocation By Market Cap (Equity)

Large Cap Stocks

64.28%

Mid Cap Stocks

24.42%

Small Cap Stocks

9.03%

Other Allocation

Equity Sector

Debt & Others

Sector	Amount	Holdings
Financial Services	₹1,651.28 Cr	96.99%
Technology	₹12.67 Cr	0.74%

Risk & Performance Ratios

Standard Deviation

This fund

15.05%

Cat. avg.

17.10%

Lower the better

Sharpe Ratio

This fund

0.87

Cat. avg.

0.73

Higher the better

Sortino Ratio

This fund

Cat. avg.

1.35

Higher the better

Fund Managers

Gaurav Kochar

Since December 2020

Additional Scheme Detailsas of 30th April 2024

	ISIN	INF769K01GX9		Expense Ratio	0.59%		Exit Load	1.00%		Fund Size	₹1,703 Cr		Age	11 Dec 2020		Lumpsum Minimum	₹5,000		Fund Status	Open Ended Investment Company		Benchmark	Nifty Financial Services TR INR

Investment Objective

To seek to generate long-term capital growth from an actively managed portfolio primarily of Equity and Equity Related Securities. Scheme shall invest in Indian equities,foreign equities and related instruments and debt securities.

Tax Treatment

Withdrawal within 1 year

Flat 15% tax on realised gains (STCG - short term capital gains)

Withdrawal after 1 year

10% tax on realised gains above Rs. 1 lakh per financial year (LTCG - long term capital gains)

Note: Mutual funds are subject to capital gains taxation with surcharge and cess, based on prevailing income tax rules and investor income. Taxation applies to realised gains, not notional gains. Please consult your tax advisors to determine the implications or consequences of your investments in such securities.

Similar Sector - Financial Services Funds

Fund name	Expense Ratio	Exit Load	Fund size	1Y
Tata Nifty Private Bank ETF Very High Risk	0.1%	-	₹8.67 Cr	8.7%
Aditya Birla Sun Life Nifty Financial Services ETF Very High Risk	-	-	-	-
Nippon India ETF Nifty PSU Bank BeES Very High Risk	0.5%	-	₹2875.67 Cr	76.4%
Kotak Nifty PSU Bank ETF Very High Risk	0.5%	-	₹1687.15 Cr	76.5%
HDFC Nifty Bank ETF Very High Risk	0.2%	-	₹2439.51 Cr	10.9%
ICICI Prudential Nifty Private Banks ETF Very High Risk	0.1%	-	₹1911.12 Cr	14.1%
Axis NIFTY Bank ETF Very High Risk	0.2%	-	₹201.28 Cr	10.9%
ICICI Prudential Banking and Financial Services Regular Growth Very High Risk	1.8%	1.0%	₹7423.85 Cr	18.1%
UTI Banking and Financial Services Fund Regular Growth Very High Risk	2.3%	1.0%	₹1079.86 Cr	21.2%
Nippon India Banking & Financial Services Fund Regular Growth Very High Risk	1.9%	1.0%	₹5541.72 Cr	25.3%

About the AMC

Mirae Asset India Mutual Fund

022-6780 0300

https://www.miraeassetmf.co.in/

Total AUM

₹1,63,012 Cr

Address

Unit No. 606, 6th Floor, Mumbai, 400 098

Other Funds by Mirae Asset India Mutual Fund

Fund name	Expense Ratio	Exit Load	Fund size	1Y
Mirae Asset Multi Asset Allocation Fund Direct Growth High Risk	0.4%	1.0%	₹1406.88 Cr	-
Mirae Asset Great Consumer Fund Direct Growth Very High Risk	0.4%	1.0%	₹3351.36 Cr	37.7%
Mirae Asset Cash Management Direct Growth Low to Moderate Risk	0.1%	0.0%	₹10073.98 Cr	7.4%
Mirae Asset Emerging Bluechip Direct Growth Very High Risk	0.6%	1.0%	₹34974.46 Cr	40.7%
Mirae Asset Large Cap Fund Direct Growth Very High Risk	0.5%	1.0%	₹38060.19 Cr	24.0%
Mirae Asset Savings Fund Direct Growth Moderate Risk	0.2%	0.0%	₹594.96 Cr	7.4%
Mirae Asset Money Market Fund Direct Growth Low to Moderate Risk	0.2%	0.0%	₹145.28 Cr	7.6%
Mirae Asset Focused Fund Direct Growth Very High Risk	0.6%	1.0%	₹8312.74 Cr	18.4%
Mirae Asset Dynamic Bond Fund Direct Growth Low to Moderate Risk	0.2%	0.0%	₹155.33 Cr	6.6%
Mirae Asset NYSE FANG+ ETF Fund of Fund Direct Growth Very High Risk	0.7%	0.0%	₹1570.17 Cr	82.7%
Mirae Asset Hybrid Equity Fund Direct Growth Very High Risk	0.4%	1.0%	₹8545.85 Cr	25.3%
Mirae Asset Equity Allocator Fund of Fund Direct Growth Very High Risk	0.2%	0.0%	₹705.09 Cr	34.9%
Mirae Asset Nifty 100 ESG Sector Leaders Fund of Fund Direct Growth Very High Risk	0.6%	0.0%	₹111.07 Cr	28.2%
Mirae Asset S&P 500 Top 50 ETF Fund of Fund Direct Growth Very High Risk	0.7%	0.0%	₹531.86 Cr	48.5%
Mirae Asset Nifty SDL Jun 2027 Index Fund Direct Growth Low to Moderate Risk	0.1%	0.0%	₹795.72 Cr	6.8%
Mirae Asset Ultra Short Duration Fund Direct Growth Moderate Risk	0.2%	0.0%	₹1463.94 Cr	7.6%
Mirae Asset Flexi Cap Fund Direct Growth Very High Risk	0.6%	1.0%	₹1815.41 Cr	33.8%
Mirae Asset Banking and Financial Services Fund Direct Growth Very High Risk	0.6%	1.0%	₹1702.61 Cr	24.3%
Mirae Asset Multicap Fund Direct Growth Very High Risk	0.4%	1.0%	₹2683.33 Cr	-
Mirae Asset Nifty India Manufacturing ETF Fund of Fund Direct Growth Very High Risk	0.5%	0.0%	₹78.52 Cr	60.1%
Mirae Asset Tax Saver Fund Direct Growth Very High Risk	0.6%	0.0%	₹22471.76 Cr	36.2%
Mirae Asset Nifty SDL Jun 2028 Index Fund Direct Growth Moderate Risk	0.1%	0.0%	₹83.22 Cr	6.8%
Mirae Asset Corporate Bond Fund Direct Growth Moderate Risk	0.2%	0.0%	₹49.85 Cr	6.6%
Mirae Asset Hang Seng TECH ETF Fund of Fund Direct Growth Very High Risk	0.8%	0.0%	₹72.50 Cr	7.2%
Mirae Asset Equity Savings Fund Direct Growth Moderately High risk	0.3%	1.0%	₹1019.74 Cr	17.7%
Mirae Asset Banking and PSU Debt Fund Direct Growth Moderate Risk	0.4%	0.0%	₹59.30 Cr	6.7%
Mirae Asset Global X Artificial Intelligence & Technology ETF Fund of Fund Direct Growth Very High Risk	0.9%	1.0%	₹316.95 Cr	44.0%
Mirae Asset Global Electric & Autonomous Vehicles ETFs Fund of Fund Direct Growth Very High Risk	2.0%	1.0%	₹95.84 Cr	2.2%
Mirae Asset Overnight Fund Direct Growth Low Risk	0.1%	0.0%	₹865.39 Cr	6.8%
Mirae Asset Short Term Fund Direct Growth Low to Moderate Risk	0.3%	0.0%	₹346.19 Cr	7.0%
Mirae Asset CRISIL IBX Gilt Index - April 2033 Index Fund Direct Growth Moderate Risk	0.1%	0.0%	₹225.99 Cr	6.2%
Mirae Asset Nifty AAA PSU Bond Plus SDL Apr 2026 50:50 Index Fund Direct Growth Low to Moderate Risk	0.1%	0.0%	₹103.31 Cr	6.9%
Mirae Asset Healthcare Fund Direct Growth Very High Risk	0.5%	1.0%	₹2236.01 Cr	52.1%
Mirae Asset Arbitrage Fund Direct Growth Low Risk	0.2%	0.0%	₹1870.00 Cr	8.5%
Mirae Asset Midcap Fund Direct Growth Very High Risk	0.6%	1.0%	₹15139.44 Cr	53.0%
Mirae Asset Balanced Advantage Fund Direct Growth High Risk	0.7%	1.0%	₹1570.06 Cr	22.3%

Risk Level

Your principal amount will be at Very High Risk

Still got questions?
We're here to help.

What is the current NAV of Mirae Asset Banking and Financial Services Fund Direct Growth?

The NAV of Mirae Asset Banking and Financial Services Fund Direct Growth, as of 17-May-2024, is ₹18.02.

What are the returns of Mirae Asset Banking and Financial Services Fund Direct Growth?

The fund has generated 24.28% over the last 1 year and 17.04% over the last 3 years. However, this does not guarantee that the fund will perform similarly in the future.

What is the portfolio composition of Mirae Asset Banking and Financial Services Fund Direct Growth?

The fund's allocation of assets is distributed as 98.30% in equities, 0.00% in bonds, and 1.70% in cash and cash equivalents.

Who manages the Mirae Asset Banking and Financial Services Fund Direct Growth?

The fund managers responsible for Mirae Asset Banking and Financial Services Fund Direct Growth are:-

Gaurav Kochar

Disclaimer: Mutual Fund investments are subject to market risks, read all scheme-related documents carefully. The NAVs of the schemes may go up or down depending upon the factors and forces affecting the securities market including the fluctuations in the interest rates. The past performance of the mutual funds is not necessarily indicative of the future performance of the schemes. Investors are requested to review the prospectus carefully and obtain expert professional advice with regard to specific legal, tax and financial implications of the investment/participation in the scheme.

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Mirae Asset Banking and Financial Services Fund Direct Growth

Fund Overview