MIRAE ASSET
BANKING AND FINANCIAL SERVICES FUND
(Sectoral / Thematic Fund - An open-ended equity scheme investing in Banking & Financial Services Sector)
| Type of Scheme | Sectoral / Thematic Fund - An open-ended equity scheme investing in Banking & Financial Services Sector |
| Investment Objective | The investment objective of the scheme is 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. The Scheme does not guarantee or assure any returns. |
Fund Manager** |
Mr. Gaurav Kochar (since December 11, 2020) |
| Allotment Date | 11th December, 2020 |
| Benchmark Index | Nifty Financial Services Index (TRI) |
| Minimum Investment Amount |
₹ 5,000/- and in multiples of ₹ 1/-thereafter. Minimum Additional Application Amount: ₹ 1,000/- per application and in multiples of ₹ 1/- thereafter. |
Systematic Investment Plan (SIP) (Any Date SIP is available from 1st July, 2019) |
Monthly and Quarterly: ₹500/- (multiples of ₹1/- thereafter), minimum 5 in case of Monthly / Quarterly option. |
| Load Structure | Entry load: NA Exit load: If redeemed within 1 year (365 days) from the date of allotment: 1% If redeemed after 1 year (365 days) from the date of allotment: NIL |
| Plans Available | Regular Plan and Direct Plan |
| Options Available | Growth Option and IDCW Option (Payout & Re-investment) |
| Monthly Average AUM (₹ Cr.) as on June 30, 2024 | 1,757.051 |
| Net AUM (₹ Cr.) |
1,822.75 |
| Monthly Total Expense Ratio (Including Statutory Levies) as on June 30, 2024 |
Regular Plan: 2.05% Direct Plan: 0.57% |
| **For experience of Fund Managers Click Here | |
| NAV: | Direct | Regular |
| Growth | ₹ 19.745 | ₹ 18.649 |
| IDCW | ₹ 19.677 | ₹ 18.672 |
| New Position Bought |
| Stock |
| Capital Markets |
| Multi Commodity Exchange of India Limited |
| Positions Increased |
| Stock |
| Banks |
| DCB Bank Limited |
| ICICI Bank Limited |
| Capital Markets |
| CARE Ratings Limited |
| Finance |
| Fusion Micro Finance Limited |
| L&T Finance Limited |
| Insurance |
| Go Digit General Insurance Limited |
| Positions Decreased |
| Stock |
| Banks |
| Axis Bank Limited |
| State Bank of India |
| The Federal Bank Limited |
| Finance |
| LIC Housing Finance Limited |
| Repco Home Finance Limited |
| Shriram Finance Limited |
| Portfolio Holdings | % Allocation |
Banks |
|
HDFC Bank Ltd |
17.96% |
ICICI Bank Ltd |
16.51% |
State Bank of India |
8.24% |
Axis Bank Ltd |
7.55% |
The Federal Bank Limited |
5.47% |
Kotak Mahindra Bank Ltd |
2.31% |
Utkarsh Small Finance Bank Ltd |
2.11% |
DCB Bank Limited |
1.49% |
IndusInd Bank Ltd |
1.25% |
The Karnataka Bank Limited |
1.05% |
Ujjivan Small Finance Bank Limited |
0.45% |
Finance |
|
India Shelter Finance Corporation Limited |
4.14% |
LIC Housing Finance Limited |
3.09% |
Bajaj Finance Limited |
2.69% |
Fusion Micro Finance Limited |
2.63% |
Shriram Finance Limited |
2.60% |
IIFL Finance Limited |
2.27% |
L&T Finance Limited |
2.00% |
Power Finance Corporation Ltd |
1.87% |
Cholamandalam Financial Holdings Limited |
1.64% |
SBI Cards and Payment Services Limited |
1.59% |
Five Star Business Finance Limited |
1.31% |
Repco Home Finance Limited |
0.10% |
REC Limited |
0.02% |
Insurance |
|
SBI Life Insurance Company Limited |
2.46% |
Max Financial Services Ltd |
1.69% |
Go Digit General Insurance Limited |
1.08% |
General Insurance Corporation of India |
1.03% |
Capital Markets |
|
Multi Commodity Exchange of India Limited |
0.68% |
CARE Ratings Limited |
0.64% |
KFin Technologies Limited |
0.59% |
Financial Technology (Fintech) |
|
One 97 Communications Limited |
0.07% |
Equity Holding Total |
98.53% |
Cash & Other Receivables |
1.47% |
Total |
100.00% |
| Returns (in%) | |||||
| 1 Year | 3 Years | Since inception | Value of 10000 invested Since Inception (in Rs.) | ||
| Mirae Asset Banking and Financial Services Fund | 26.51% |
17.16% |
19.17% |
18,649 |
|
| Scheme Benchmark* | 17.89% |
13.52% |
15.43% |
16,651 |
|
| Additional Benchmark** | 23.69% |
16.07% |
17.84% |
17,918 |
|
| NAV as on 30th June, 2024 | ₹ 18.649 | ||||
| Index Value (30th June, 2024) | Index Value of benchmark is 29,334.91 and BSE Sensex (TRI) is 1,21,991.93 | ||||
| Allotment Date | 11th December, 2020 | ||||
| Scheme Benchmark | *Nifty Financial Services Index (TRI) | ||||
| Additional Benchmark | **BSE Sensex (TRI)## | ||||
Fund manager : Mr. Gaurav Kochar managing the scheme since 11th December, 2020.
Note: Returns for 1 year and below are absolute returns, Returns above 1 year are CAGR- Compounded Annualized Growth returns.
Latest available NAV has been taken for return calculation wherever applicable
Past Performance may or may not be sustained in future.
Note : For computation of since inception returns (%) the allotment NAV has been taken as ₹ 10.00. The performance of other funds managed by the same fund managers are given in the respective page of the schemes 
Different Plans under the scheme has different expense structure. The reference and details provided here in are of Regular Plan - Growth Option
| Period | Total Amount Invested | Mkt Value as on 30-June-2024 |
Since inception |
4,20,000 | 5,97,612 |
3 Years |
3,60,000 | 4,95,950 |
1 Year |
1,20,000 | 1,39,439 |
Returns (%) |
Period |
||
Since inception |
3 Years |
1 Year |
|
Fund Return& (%) |
20.66 |
22.06 |
31.85 |
Nifty Financial Services Index (TRI)& (%) |
15.84 |
16.77 |
28.20 |
BSE Sensex (TRI)& (%)## |
18.11 |
18.67 |
28.92 |
& The SIP returns are calculated by XIRR approach assuming investment of ₹ 10,000/- on the 1st working day of every month.
| Volatility | 15.31% |
| Beta: | 0.89 |
| R Squared | 0.89 |
| Sharpe Ratio#: | 0.67 |
| Information Ratio | 0.70 |
| Portfolio Turnover Ratio | 0.40 times |
@The Volatility, Beta, R Squared, Sharpe Ratio & Information Ratio are calculated on returns from last three years Monthly data points. # Risk free rate: FBIL OVERNIGHT MIBOR as on 30th June, 2024.^Basis last rolling 12 months. |
|
This product is suitable for investors who are seeking*
• To generate long term capital appreciation
• Investments predominantly in equity and equity related securities of companies in banking and financial services sector in india
*Investors should consult their financial advisers if they are not clear about the suitability of the product.