VR Logo

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.

Read more

ajax-loader
Please wait...

ajax-loader
Please wait...

(₹)
cal
cal

ajax-loader
Please wait...

Trailing Returns (%)

YTD 1-Day 1-W 1-M 3-M 6-M 1-Y 3-Y 5-Y 7-Y 10-Y
Fund 12.80 -0.51 0.44 7.78 3.11 15.25 -- -- -- -- --
S&P BSE Bankex TRI 10.69 -0.64 0.49 8.53 1.28 12.95 -- -- -- -- --
Equity: Sectoral-Banking 14.13 -0.72 0.65 8.89 2.36 15.70 -- -- -- -- --
Rank within category 8 1 24 25 8 8 -- -- -- -- --
Number of funds in category 28 28 28 28 28 28 23 17 17 11 8

As on 16-Jun-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 -- -- -- 2.35 616
SBI Banking & Financial Services Fund - Regular Plan  | Invest Online
5 star
Feb-15 68.57 13.66 18.07 2.21 2,647
Tata Banking and Financial Services Fund - Regular Plan  | Invest Online
4 star
Dec-15 58.32 11.60 16.80 2.46 753
Nippon India ETF Bank BeES  | Invest Online
Unrated
May-04 72.29 9.39 14.52 0.18 9,087
Kotak Banking ETF Fund Regular  | Invest Online
Unrated
Dec-14 71.98 9.33 14.54 0.18 7,513

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* 16.05 33.62 0.35 0.42 -- --
Equity: Sectoral-Banking* 13.35 34.28 0.28 0.33 0.98 -2.45
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 31-May-2021

Asset Allocation (%)

ajax-loader
Please wait...

Concentration & Valuation

Number of Stocks 22
Top 10 Stocks (%) 82.27
Top 5 Stocks (%) 65.74
Top 3 Sectors (%) 96.41
Portfolio P/B Ratio 2.65
Portfolio P/E Ratio 22.33

Portfolio Aggregates

Fund Category
Average Mkt Cap (Rs Cr) 2,45,308 2,52,500
Giant (%) 75.98 74.18
Large (%) 11.08 10.53
Mid (%) 6.82 12.16
Small (%) 6.12 5.83
Tiny (%) -- --

Value Research Fund Style

Sector Allocation vis-à-vis Category

ajax-loader
Please wait...

Top Holdings

Company Sector P/E 3Y High 3Y Low % Assets
up HDFC Bank Financial 25.54 23.55 21.28 21.85
up ICICI Bank Financial 23.93 16.39 13.05 16.39
up HDFC Financial 24.04 12.11 10.30 10.37
up Axis Bank Financial 31.65 9.12 8.43 9.09
up State Bank of India Financial 16.94 8.04 5.19 8.04
up Kotak Mahindra Bank Financial 34.72 6.06 5.58 5.58
up SBI Life Insurance Company Financial 68.13 3.45 2.80 3.31
equal The Federal Bank Financial 10.30 3.53 3.03 3.20
equal Muthoot Finance Financial 15.87 2.33 1.81 2.30
equal UTI Asset Management Co. Financial 19.88 2.57 1.92 2.15
equal Can Fin Homes Financial 15.13 2.56 1.68 2.14
equal Bajaj Finserv Financial 41.97 2.05 1.57 1.95
up HDFC Life Insurance Financial 102.45 2.02 1.44 1.44
equal Equitas Small Finance Bank Financial 17.82 1.69 1.39 1.39
up ICICI Lombard General Insurance Company Financial 46.78 1.45 1.35 1.38
up Indusind Bank Financial 26.66 1.23 0.00 1.23
equal Power Finance Corporation Financial 2.88 1.62 1.23 1.23
equal Max Financial Services Financial 80.72 1.86 1.11 1.11
up Cholamandalam Investment & Finance Company Financial 30.25 1.66 1.02 1.02
equal Shriram Transport Finance Company Financial 15.22 1.07 0.63 0.90
equal Equitas Holdings Financial 6.88 0.25 0.00 0.22
down LIC Housing Fin. Financial 9.15 0.80 0.00 0.15

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 31-May-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:


-0.51%

Change from previous, NAV as on 16-Jun-2021

Growth: ₹ 11.6360

IDCW: ₹ 11.6340


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: 16.36%
Benchmark: NIFTY Financial Services TRI
Riskometer: Very High
Type: Open-ended
Assets: ₹ 616 Cr (As on 31-May-2021)
Expense: 2.35% (As on 30-Apr-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

Upcoming Video

Investors' Hangout

Your investment strategy after the debt fund fiasco

DateFriday, 18-Jun-2021
Time12:30 PM - 01:00 PM