ICICI Prudential Banking and Financial Services Fund - Direct Plan

download factsheet Factsheet

Value Research Rating

3 star

Analyst’s Choice

premium-user

Riskometer

fund-quick-summary-circle

Very High

₹118.7500 0.84%

As on 20-Feb-2024

Returns

to
Please wait...

Calculate SIP Returns of ICICI Prudential Banking and Financial Services Fund - Direct Plan

Upfront Investment

Monthly SIP Amount

Investment Duration

years

Risk info

This fund has Very High risk.

low
Low to Moderate
Moderate
Moderately High
High
Very High

As per SEBI's Riskometer.

Portfolio of ICICI Prudential Banking and Financial Services Fund - Direct Plan

Asset Allocation

Split between different types of investments

Please wait...

Market Cap Weightage

Split between categories of Equity investments

Please wait...

Peer Comparison

Other details of ICICI Prudential Banking and Financial Services Fund - Direct Plan

Assets info

₹7,322 Cr

Exit Load (Days) info

1.00 (15)

Min. Investment (₹)

5,000

Min. Withdrawal (₹)

1

Min. SIP Investment (₹)

100

Min. No of Cheques

6

Investment Strategy

The scheme seeks to maximize long term capital gains by investing in equity and equity related securities of banking, financial and non-banking financial companies that form a part of Banking and Financial Services Industry. A large share of the assets of the scheme will be invested in the stocks comprising the benchmark, BSE Bankex Index.

Suitability

This is a fund that invests mainly in shares of banks and financial services companies.

We believe that investors should avoid funds that have a narrowly defined investment mandate such as this one. Instead, they should invest in flexi-cap funds which provide complete freedom to the fund management team to invest in companies from which it expects maximum gains.

But if you do invest, you must do so only through the SIP route. Click here to read a primer on SIP investing.

Warning: Do not invest in this, or any other banking sector fund, if you need to redeem your investment in less than seven years.

Taxation

Capital Gains Taxation

  • If the mutual fund units are sold after 1 year from the date of investment, gains upto Rs 1 lakh in a financial year are exempt from tax. Gains over Rs 1 lakh are taxed at the rate of 10%.
  • If the mutual fund units are sold within 1 year from the date of investment, entire amount of gain is taxed at the rate of 15%.
  • No tax is to be paid as long as you continue to hold the units.

Dividend Taxation

  • Dividends are added to the income of the investors and taxed according to their respective tax slabs. Further, if an investor's dividend income exceeds Rs. 5,000 in a financial year, the fund house also deducts a TDS of 10% before distributing the dividend.

FAQ for ICICI Prudential Banking and Financial Services Fund - Direct Plan

ICICI Prudential Banking and Financial Services Fund - Direct Plan is mandated to invest at least 80 per cent of its assets in the shares of banks and financial services companies.

Mutual funds can be bought directly from the website of the fund house. For instance, ICICI Prudential Banking and Financial Services Fund - Direct Plan fund can be purchased from the website of ICICI Prudential Mutual Fund. You can also buy mutual funds through platforms like MF Central, MF Utility, among others. However, if you are not comfortable buying mutual funds online, you can seek help of a mutual fund distributor. Most banks also act as mutual fund distributors. So you can connect with your bank for assistance.

The NAV of ICICI Prudential Banking and Financial Services Fund - Direct Plan is ₹118.7500 as of 21-Feb-2024.

The AUM of ICICI Prudential Banking and Financial Services Fund - Direct Plan Fund is ₹7,322 Cr as of 31-Jan-2024

The riskometer level of ICICI Prudential Banking and Financial Services Fund - Direct Plan is Very High. See More

As of 31-Jan-2024, ICICI Prudential Banking and Financial Services Fund - Direct Plan had invested 96.45% in Equity, 2.26% in Cash & Cash Eq. and 1.29% in Debt See More

ICICI Prudential Banking and Financial Services Fund - Direct Plan is 11 years 1 months old. It has delivered 15.70% returns since inception. See More

1Y
3Y
5Y
7Y
10Y
Since Inception
23.58%
12.87%
14.31%
12.78%
19.40%
15.70%

No, There is no lock in period in ICICI Prudential Banking and Financial Services Fund - Direct Plan.

The expense ratio of ICICI Prudential Banking and Financial Services Fund - Direct Plan is 1.02.

Please wait...
Please wait...
Please wait...
Please wait...
Please wait...
Please wait...
Invest Now