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3 star

ICICI Prudential Banking and Financial Services Fund


Equity: Sectoral-Banking

1 Lakh

Investment declined to
₹ 0.88 Lakh

₹ 10000

Monthly SIP Declined to
₹ 3.07 Lakh

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 paid by the mutual fund scheme are taxed at the rate of 10% (effectively 11.648%, including surcharge and cess). This is known as Dividend Distribution Tax (DDT). Though the investor does not pay this tax directly, it is deducted from the dividend income before passing on to the investor.

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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 -27.82 2.38 7.09 11.48 24.08 -26.72 -27.25 -4.14 5.48 13.18 12.20
S&P BSE Bankex TRI -30.10 1.90 5.51 6.45 17.21 -28.32 -27.18 -0.86 4.01 10.84 10.02
Equity: Sectoral-Banking -28.74 1.73 5.72 8.47 19.81 -27.17 -27.31 -4.61 1.46 6.61 4.98
Rank within category 10 4 2 2 2 10 10 12 4 1 1
Number of funds in category 23 23 23 23 23 23 18 17 15 10 8

As on 07-Jul-2020

Peer Comparison

Fund name Rating Launch Date 1-Year Return 3-Year Return 5-Year Return Expense Ratio Assets (Cr)
ICICI Prudential Banking and Financial Services Fund  | Invest Now
3 star
Aug-08 -27.25 -4.14 5.48 2.27 2,264
SBI Banking & Financial Services Fund - Regular Plan  | Invest Online
5 star
Feb-15 -18.29 3.77 9.48 2.41 1,213
Nippon India ETF Bank BeES  | Invest Online
Unrated
May-04 -28.87 -1.49 3.72 0.18 4,150
Kotak Banking ETF Fund Regular  | Invest Online
Unrated
Dec-14 -28.83 -1.52 3.82 0.18 3,796
SBI ETF Nifty Bank Fund  | Invest Online
Unrated
Mar-15 -28.83 -1.49 3.84 0.20 2,425

Best & Worst Performance

Best (Period) Worst (Period)
Week 22.79 (12-May-2009 - 19-May-2009) -27.13 (16-Mar-2020 - 23-Mar-2020)
Month 36.84 (28-Apr-2009 - 28-May-2009) -46.54 (20-Feb-2020 - 23-Mar-2020)
Quarter 94.48 (09-Mar-2009 - 10-Jun-2009) -46.54 (24-Dec-2019 - 24-Mar-2020)
Year 151.17 (09-Mar-2009 - 11-Mar-2010) -44.57 (27-May-2019 - 26-May-2020)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund -0.80 30.70 -0.20 -0.20 1.03 -3.07
S&P BSE Bankex TRI 2.36 29.12 -0.10 -0.10 -- --
Equity: Sectoral-Banking -1.33 30.32 -0.19 -0.25 0.99 -3.72
Rank within category 12 13 12 12 14 12
Number of funds in category 17 17 17 17 17 17

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

As on 30-Jun-2020

Asset Allocation (%)

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Concentration & Valuation

Number of Stocks 28
Top 10 Stocks (%) 65.31
Top 5 Stocks (%) 44.83
Top 3 Sectors (%) 96.76
Portfolio P/B Ratio 1.37
Portfolio P/E Ratio 13.74

Portfolio Aggregates

Fund Category
Average Mkt Cap (Rs Cr) 56,285 1,51,651
Giant (%) 46.73 74.54
Large (%) 15.51 7.28
Mid (%) 27.40 15.58
Small (%) 10.35 3.35
Tiny (%) -- 0.64

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
down ICICI Bank Financial 25.55 14.82 7.87 13.65
down HDFC Bank Financial 22.47 12.84 5.41 12.84
down Axis Bank Financial 69.19 7.40 0.00 7.40
down State Bank of India Financial 8.84 10.32 5.57 5.57
down Muthoot Finance Financial 14.08 5.38 1.96 5.38
up HDFC Financial 15.32 5.86 0.00 4.48
down Motilal Oswal Financial Financial 54.88 4.40 0.00 4.40
down SBI Life Insurance Company Financial 60.12 4.55 0.00 4.07
down Bajaj Finserv Financial 30.98 6.12 2.28 4.02
down ICICI Prudential Life Insurance Co. Ltd. Financial 58.44 3.49 0.00 3.49
down LIC Housing Fin. Financial 6.08 3.77 0.59 3.27
down ICICI Lombard General Insurance Company Financial 49.02 3.22 0.00 3.22
down ICICI Securities Financial 30.11 3.11 0.00 3.11
down Max Financial Services Financial 102.95 3.02 0.00 3.02
down Federal Bank Financial 7.08 5.45 2.26 2.86
down M&M Financial Services Financial 11.77 4.57 0.00 2.81
down Cholamandalam Financial Holdings Financial 11.15 2.83 0.00 2.66
up CreditAccess Grameen Financial 27.24 2.48 0.00 1.61
equal DCB Bank Financial 8.02 2.63 0.91 1.57
down General Insurance Corporation of India Financial -- 2.11 0.00 1.30
equal Karur Vysya Bank Financial 12.06 3.10 0.00 1.06
equal Can Fin Homes Financial 13.14 0.91 0.00 0.75
new Kotak Mahindra Bank Financial 31.57 2.57 0.00 0.69
down Equitas Holdings Financial 9.86 2.44 0.67 0.67
down Karnataka Bank Financial 3.31 2.31 0.00 0.58

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-2020

Fund Manager

— Roshan Chutkey since 29-Jan-2018

Education: Roshan Chutkey did his engineering from IIT Madras, MBA from IIM Lucknow and has a Masters in Finance degree from London Business School.

Experience: He is associated with ICICI Prudential AMC from February 2015 and has 12 years of overall experience in the industry.

Funds Managed:


2.38%

Change from previous, NAV as on 07-Jul-2020

Growth: ₹ 50.2900

Dividend: ₹ 24.1000


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.

Investment Details

Minimum Investment (₹) 5,000
Minimum Addl Investment (₹) 1,000
Minimum SIP Investment (₹) 100
Minimum No of Cheques 6
Minimum Withdrawal (₹) 1
Minimum Balance (₹) --
Exit Load 1% for redemption within 15 days

Basic Details

Fund House: ICICI Prudential Mutual Fund
Launch Date: 22-Aug-2008
Return Since Launch: 14.56%
Benchmark: NIFTY Financial Services TRI
Riskometer: High
Type: Open-ended
Assets: ₹ 2,264 Cr (As on 31-May-2020)
Expense: 2.27% (As on 31-May-2020)
Risk Grade: Average
Return Grade: Average
Turnover: 50.00%

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend14-Feb-20203.0989

 20-Feb-20192.6562
 16-Feb-20184.8000
 23-Feb-20173.2000
 19-Feb-20161.0000
 27-Feb-20153.0000
 21-Feb-20141.0000
 22-Feb-20132.0000
 24-Sep-20100.5000

Contact Information

AMC: ICICI Prudential Asset Management Company Ltd

Address: One BKC , A Wing , 13th Floor, Bandra Kurla Complex, Mumbai - 400051

Phone: 022-26525000 / 1800-222-999 / 1800-200-6666

Fax: 022-26528100

Email: [email protected]

Website: http://www.icicipruamc.com

Registrar & Transfer Agent: Computer Age Management Services Ltd.

Address: 7th Floor, Tower II, Rayala Towers, 158, Anna Salai, Chennai - 600002

Phone: 1800-3010-6767 / 1800-419-7676

Fax: 044-30407101

Email: [email protected]

Website: www.camsonline.com

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