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Unrated

ITI Banking and Financial Services Fund - Regular Plan download report


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
ITI Banking and Financial Services Fund Reg-G -10.19 1.28 3.04 -1.37 -4.31 -9.79 -- -- -- -- --
S&P BSE Bankex TRI -3.75 1.30 2.48 -2.29 -4.27 -1.78 -- -- -- -- --
Equity: Sectoral-Banking -6.60 1.52 2.89 -1.47 -5.78 -5.00 -- -- -- -- --
Rank within category 28 32 11 13 1 31 -- -- -- -- --
Number of funds in category 31 33 33 33 33 31 28 18 17 15 9

As on 24-Jun-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 -- -- -- 2.62% 153
SBI Banking & Financial Services Fund - Regular Plan  | Invest Online
5 star
Feb-15 -6.60 5.73 9.83 1.94% 3,237
Sundaram Financial Services Opportunities Fund - Regular Plan
4 star
Jun-08 -4.91 6.60 7.18 2.72% 513
Invesco India Financial Services Fund  | Invest Online
4 star
Jul-08 -8.47 4.31 6.54 2.51% 410
Nippon India ETF Bank BeES  | Invest Online
Unrated
May-04 -2.88 2.91 7.36 0.19% 9,431

Best & Worst Performance

Best Performance Worst Performance
Return (%) Period Return (%) Period
Week 6.89 07-Mar-2022 - 14-Mar-2022 -7.17 28-Feb-2022 - 07-Mar-2022
Month 13.76 07-Mar-2022 - 06-Apr-2022 -13.60 04-Feb-2022 - 07-Mar-2022
Quarter 7.90 07-Mar-2022 - 06-Jun-2022 -12.61 08-Dec-2021 - 09-Mar-2022
Year -- - -- -

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
ITI Banking and Financial Services Fund Reg-G -- -- -- -- -- --
S&P BSE Bankex TRI* 10.95 32.61 0.23 0.28 -- --
Equity: Sectoral-Banking* 8.84 32.57 0.18 0.20 0.96 -1.78
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-2022

Asset Allocation (%)

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Concentration & Valuation

Number of Stocks 19
Top 10 Stocks (%) 86.29
Top 5 Stocks (%) 71.60
Top 3 Sectors (%) 99.17
Portfolio P/B Ratio 2.50
Portfolio P/E Ratio 19.17

Portfolio Aggregates

Fund Category
Average Mkt Cap (Rs Cr) 2,28,780 2,55,966
Giant (%) 74.28 73.45
Large (%) 9.53 12.30
Mid (%) 11.75 11.83
Small (%) 4.45 4.70
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 19.76 21.93 0.00 21.93
up ICICI Bank Financial 19.77 18.79 13.65 18.79
up HDFC Financial 17.58 14.46 0.00 14.38
down Kotak Mahindra Bank Financial 27.88 10.12 0.00 9.58
up Axis Bank Financial 13.79 9.98 0.00 6.92
equal SBI Life Insurance Company Insurance 71.64 4.83 2.81 4.39
up City Union Bank Financial 12.40 3.04 0.00 3.04
equal Cholamandalam Investment & Finance Company Financial 24.67 3.15 0.00 2.54
equal HDFC Life Insurance Insurance -- 2.58 0.00 2.52
equal Max Financial Services Financial 111.37 2.21 0.00 2.20
equal Motilal Oswal Financial Ser. Financial 8.29 2.81 0.00 2.08
up State Bank of India Financial 11.46 9.77 2.06 2.06
equal Aavas Financiers Financial 44.46 2.04 0.00 1.74
equal Karur Vysya Bank Financial 5.40 1.96 0.00 1.71
equal DCB Bank Financial 8.19 1.70 0.00 1.68
up Muthoot Finance Financial 9.84 1.80 0.00 1.64
equal UTI Asset Management Co. Financial 15.26 1.24 0.00 1.02
equal Aditya Birla Sun Life AMC Financial 17.16 1.28 0.00 0.82
equal Sundaram Finance Financial 16.49 0.17 0.00 0.13

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-2022

Fund Manager

— 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.

Funds Managed:

— Rohan Korde since 29-Apr-2022

Education: Mr. Korde is a Masters in Management Studies (Finance), Bachelor of Commerce

Experience: Prior to joining Asset Management Limited, he has worked with BOB Capital Markets as Vice President Research, Prabhudas Lilladher as Vice President Research and Anand Rathi Share & Stock Brokers as Vice President Research.

Funds Managed:


1.28%

Change from previous, NAV as on 24-Jun-2022

Growth: ₹ 9.0192

IDCW: ₹ 9.0192


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: -9.81%
Benchmark: NIFTY Financial Services TRI
Riskometer: Very High
Type: Open-ended
Assets: ₹ 153 Cr (As on 31-May-2022)
Expense: 2.62% (As on 31-May-2022)
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: 022-66214999

Email: [email protected]

Website: http://www.itiamc.com

Registrar & Transfer Agent: KFin Technologies 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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