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Unrated

ITI 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 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.

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 2.32 -0.21 1.66 0.60 -- -- -- -- -- -- --
S&P BSE Bankex TRI 8.32 -0.35 1.68 4.42 -- -- -- -- -- -- --
Equity: Sectoral-Banking 7.56 -0.19 2.00 3.18 -- -- -- -- -- -- --
Rank within category 31 12 27 31 -- -- -- -- -- -- --
Number of funds in category 31 31 31 31 30 29 28 18 17 12 8

As on 14-Jan-2022

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
ITI Banking and Financial Services Fund - Regular Plan
Unrated
Dec-21 -- -- -- -- 110
SBI Banking & Financial Services Fund - Regular Plan  | Invest Online
5 star
Feb-15 14.38 15.32 17.57 1.96% 2,976
Tata Banking and Financial Services Fund - Regular Plan  | Invest Online
4 star
Dec-15 14.55 15.35 16.24 2.44% 854
Sundaram Financial Services Opportunities Fund - Regular Plan
4 star
Jun-08 18.47 16.86 14.64 2.63% 475
Nippon India ETF Bank BeES  | Invest Online
Unrated
May-04 18.15 11.65 15.07 0.18% 9,753

Best & Worst Performance

Best Performance Worst Performance
Return (%) Period Return (%) Period
Week 2.53 06-Jan-2022 - 13-Jan-2022 -2.77 13-Dec-2021 - 20-Dec-2021
Month 1.09 15-Dec-2021 - 14-Jan-2022 -1.97 08-Dec-2021 - 07-Jan-2022
Quarter -- - -- -
Year -- - -- -

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund -- -- -- -- -- --
S&P BSE Bankex TRI* 15.59 33.24 0.36 0.44 -- --
Equity: Sectoral-Banking* 13.74 33.10 0.32 0.38 0.96 -1.33
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-Dec-2021

Asset Allocation (%)

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Concentration & Valuation

Number of Stocks 5
Top 10 Stocks (%) 32.34
Top 5 Stocks (%) 32.34
Top 3 Sectors (%) 0.36
Portfolio P/B Ratio 2.94
Portfolio P/E Ratio 23.86

Portfolio Aggregates

Fund Category
Average Mkt Cap (Rs Cr) 4,08,388 2,59,258
Giant (%) 85.65 74.21
Large (%) 8.69 8.58
Mid (%) 5.66 14.69
Small (%) -- 3.40
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
new ICICI Bank Financial 26.79 15.64 15.64 15.64
new HDFC Bank Financial 25.03 6.28 6.28 6.28
new State Bank of India Financial 15.83 5.78 5.78 5.78
new SBI Life Insurance Company Insurance 102.33 2.81 2.81 2.81
new Max Financial Services Financial 119.01 1.83 1.83 1.83

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-Dec-2021

Fund Manager

— Hetal Gada since 15-Nov-2021

Education: Ms. Gada has done MBA (Finance)

Experience: Prior to joining ITI AMC, she worked with Centrum where she handled research in auto and consumer sector. Prior to that, she worked with Elara Securities for 2 years and CRISIL for more than 3 years, both where she handled research on various sectors including metals.

— Pradeep Gokhale since 15-Nov-2021

Education: Mr Pradeep is a qualified Chartered Accountant from Institute of Chartered Accountants of India, New Delhi and a Chartered Financial Analyst from CFA Institute – USA.

Experience: Prior to joining ITI Asset Management Ltd., he has worked with Tata Asset Management Ltd., CARE Ratings Ltd., Bombay Dyeing, Tata International and Lubrizol India Ltd. He has over 23 years of extensive experience in Fund Management, Equity Research, Credit Evaluation and Ratings. During his 15-year stint at Tata Asset Management Ltd., he managed a broad spectrum of schemes across large cap (Tata Large Cap Fund), multi cap (Tata Large and Midcap Fund, Tata India Tax Savings Fund and the equity portion of Tata Hybrid Equity Fund), offshore fund (Tata India Offshore Opportunities Fund) and thematic funds (Tata Ethical Fund) with assets under management exceeding Rs. 5,000 crores. He was responsible for heading the equity research function and also for tracking various sectors and a wide variety of stocks. On the other hand, at CARE, he took care of multiple ratings and advisory assignments of companies across manufacturing, financial services and other services sectors.

Funds Managed:

— Pratibh Agarwal since 15-Nov-2021

Education: Mr. Agarwal is a Masters of Technology (IIT Kanpur)

Experience: Prior to joining ITI Asset Management, he has worked with Nippon India Asset Management as Research Associate, Yoctel Solutions Ltd. as Senior Consultant, Alcatel Lucent Ltd as Engineer.


-0.21%

Change from previous, NAV as on 14-Jan-2022

Growth: ₹ 10.2756

IDCW: ₹ 10.2756


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.

Investment Details

Min. Investment (₹) 5,000
Min. Addl Investment (₹) 1,000
Min. SIP Investment (₹) 500
Min. No of Cheques 12
Min. Withdrawal (₹) 1,000
Min. Balance (₹) --
Lock-in Period Not Applicable
Exit Load 1% for redemption within 365 days

Basic Details

Fund House: ITI Mutual Fund
Launch Date: 06-Dec-2021
Return Since Launch: 2.76%
Benchmark: NIFTY Financial Services TRI
Riskometer: Very High
Type: Open-ended
Assets: ₹ 110 Cr (As on 31-Dec-2021)
Expense: -- (As on )
Risk Grade: --
Return Grade: --
Turnover: --

Contact Information

AMC: ITI Asset Management Ltd.

Address: ITI Asset Mangement Limited, ITI House, Building no. 36, Dr. R. K. Shirodkar Marg, Parel, Mumbai - 400012

Phone: 1800-266-9603 / 022-66214999

Email: [email protected]

Website: http://www.itiamc.com

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

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