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Unrated

Mirae Asset Banking and Financial Services Fund - Regular Plan


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 multi-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.

Taxability of earnings:

Capital gains

  • 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.

Dividends

  • 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.

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(₹)
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Trailing Returns (%)

YTD 1-Day 1-W 1-M 3-M 6-M 1-Y 3-Y 5-Y 7-Y 10-Y
Fund 4.65 -0.59 -2.04 1.93 -7.45 -- -- -- -- -- --
S&P BSE Bankex TRI 1.98 -0.81 -2.44 1.42 -10.37 -- -- -- -- -- --
Equity: Sectoral-Banking 4.74 -0.86 -1.58 2.17 -8.59 -- -- -- -- -- --
Rank within category 5 4 14 11 7 -- -- -- -- -- --
Number of funds in category 28 28 28 28 28 27 23 17 17 11 8

As on 14-May-2021

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
Mirae Asset Banking and Financial Services Fund - Regular Plan  | Invest Online
Unrated
Dec-20 -- -- -- 2.52 545
SBI Banking & Financial Services Fund - Regular Plan  | Invest Online
5 star
Feb-15 66.05 11.53 17.58 2.33 2,401
Tata Banking and Financial Services Fund - Regular Plan  | Invest Online
4 star
Dec-15 57.29 8.81 16.60 2.57 683
Nippon India ETF Bank BeES  | Invest Online
Unrated
May-04 68.36 6.34 13.94 0.18 8,199
Kotak Banking ETF Fund Regular  | Invest Online
Unrated
Dec-14 68.07 6.28 13.97 0.18 6,625

Best & Worst Performance

Best Performance Worst Performance
Return (%) Period Return (%) Period
Week 13.10 29-Jan-2021 - 05-Feb-2021 -6.05 20-Jan-2021 - 27-Jan-2021
Month 12.83 18-Jan-2021 - 17-Feb-2021 -10.85 12-Mar-2021 - 12-Apr-2021
Quarter 13.44 14-Dec-2020 - 15-Mar-2021 -7.45 12-Feb-2021 - 14-May-2021
Year -- - -- -

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund -- -- -- -- -- --
S&P BSE Bankex TRI* 14.96 33.45 0.32 0.37 -- --
Equity: Sectoral-Banking* 10.97 33.91 0.21 0.24 0.97 -3.70
Rank within category -- -- -- -- -- --
Number of funds in category -- -- -- -- -- --

The Risk Measures have been calculated using calendar month returns for the last three years.

As on

* As on 30-Apr-2021

Asset Allocation (%)

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Concentration & Valuation

Number of Stocks 22
Top 10 Stocks (%) 81.05
Top 5 Stocks (%) 63.67
Top 3 Sectors (%) 95.74
Portfolio P/B Ratio 2.45
Portfolio P/E Ratio 20.70

Portfolio Aggregates

Fund Category
Average Mkt Cap (Rs Cr) 2,17,398 2,35,800
Giant (%) 76.19 75.37
Large (%) 9.76 8.94
Mid (%) 7.48 13.33
Small (%) 6.57 5.82
Tiny (%) -- --

Value Research Fund Style

Sector Allocation vis-à-vis Category

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Top Holdings

Company Sector P/E 3Y High 3Y Low % Assets
up HDFC Bank Financial 24.03 23.55 21.28 21.28
up ICICI Bank Financial 22.48 15.73 13.05 15.73
equal HDFC Financial 23.31 12.11 10.30 10.30
up Axis Bank Financial 29.18 9.12 8.43 9.12
up State Bank of India Financial 13.87 7.38 5.19 7.24
up Kotak Mahindra Bank Financial 33.88 6.06 5.59 5.77
equal SBI Life Insurance Company Financial 67.13 3.45 2.80 3.44
up Federal Bank Financial 10.81 3.53 3.03 3.32
up Can Fin Homes Financial 14.88 2.56 1.68 2.56
up Muthoot Finance Financial 12.97 2.33 1.81 2.29
equal Bajaj Finserv Financial 39.04 2.05 1.57 2.05
equal UTI Asset Management Co. Financial 17.80 2.57 1.92 2.04
equal Equitas Small Finance Bank Financial 16.57 1.69 1.41 1.47
equal HDFC Life Insurance Financial 99.61 2.02 1.45 1.45
equal ICICI Lombard General Insurance Company Financial 45.48 1.45 1.35 1.35
equal Power Finance Corp. Financial 3.22 1.62 1.25 1.25
equal Max Financial Services Financial 92.95 1.86 1.15 1.20
up Indusind Bank Financial 23.53 1.18 0.00 1.18
equal Cholamandalam Invest. & Fin. Financial 28.39 1.66 1.08 1.08
equal Shriram Transport Finance Financial 13.44 1.07 0.63 0.95
equal LIC Housing Fin. Financial 7.86 0.80 0.00 0.45
equal Equitas Holdings Financial 20.26 0.25 0.00 0.22

up down equal Indicates an increase or decrease or no change in holding since last portfolio
new Indicates a new holding since last portfolio

As on 30-Apr-2021

Fund Manager

— Gaurav Kochar since 25-Nov-2020

Education: Mr. Kochar is a Chartered Accountant

Experience: Prior to joining Mirae Asset Mutual Fund, he has worked with Kotak Bank as an Internal Auditor for 3 years, later worked for almost 2.5 years in Ambit Capital as a Research Analyst – Banking.

— Harshad Borawake since 25-Nov-2020

Education: Mr. Borawake is MBA(Finance) & B.E.(Polymers)

Experience: Prior to joining Mirae Asset Mutual Fund, he has worked with Motilal Oswal Securities Ltd. as Vice President and Capmetrics & Risk Solutions Private Ltd. as Research Analyst - Equity.

Funds Managed:


-0.59%

Change from previous, NAV as on 14-May-2021

Growth: ₹ 10.7960

IDCW: ₹ 10.7930


Investment Strategy

The scheme seeks to generate long-term capital appreciation from a portfolio that is invested predominantly in equity and equity related securities of companies engaged in banking and financial services sector.

Investment Details

Minimum Investment (₹) 5,000
Minimum Addl Investment (₹) 1,000
Minimum SIP Investment (₹) 1,000
Minimum No of Cheques 5
Minimum Withdrawal (₹) --
Minimum Balance (₹) --
Lock-in Period Not Applicable
Exit Load 1% for redemption within 365 days

Basic Details

Fund House: Mirae Asset Mutual Fund
Launch Date: 11-Dec-2020
Return Since Launch: 7.96%
Benchmark: NIFTY Financial Services TRI
Riskometer: Very High
Type: Open-ended
Assets: ₹ 545 Cr (As on 30-Apr-2021)
Expense: 2.52% (As on 31-Mar-2021)
Risk Grade: --
Return Grade: --
Turnover: --

Contact Information

AMC: Mirae Asset Investment Managers (India) Pvt. Ltd.

Address: Unit No.606 - 6th Floor, Windsor Building - Off. CST Road, Kalina, Santacruz (East), Mumbai - 400098

Phone: 022-67800301 / 1800-2090-777

Email: [email protected]

Website: http://www.miraeassetmf.co.in

Registrar & Transfer Agent: KFin Technologies Pvt Ltd.

Address: 303, Vamsee Estates, Opp. Big Bazaar, Ameerpet, Hyderabad - 500016

Phone: 040-44857874

Email: [email protected]

Website: www.karvymfs.com

Last Session

Investors' Hangout

With the resurgence of COVID-19, what should investors do?

DateFriday, 07-May-2021
Time12:30 PM - 01:00 PM

Registration Over