September 13, 2022
mayank
Mirae Asset Banking and Financial Services Fund
NAV Growth : Rs 13.545
NAV IDCW : Rs 13.5090
Suitable For Which Investors ?
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.
Fund’s 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.
Fund Manager :
1) Gaurav Kochar
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.
Investment Details
| Min. Investment (Rs) : | 5,000 |
| Min. Addl Investment (Rs) : | 1,000 |
| Min. SIP Investment (Rs) : | 1,000 |
| Min. Withdrawal (Rs) : | — |
| Min. No of Cheques : | 5 |
| Min. Balance (Rs) : | — |
| Lock-in Period : | NA |
| Exit Load : | 1% for redemption within 365 days |
Basic Details
| Fund House : | Mirae Asset Mutual Fund |
| Launch Date : | 11-Dec-20 |
| Return Since Launch : | 18.89% |
| Benchmark : | NIFTY Financial Services TRI |
| Riskometer : | Very High |
| Type : | Open-ended |
| Assets : | Rs 1,191 Cr |
| (As on 31-Aug-2022) | |
| Expense Ratio : | 0.69% |
| (As on 31-Jul-2022) | |
| Risk Grade : | — |
| Return Grade : | — |
| Turnover : | 13.00% |
Mirae Asset Banking and Financial Services Fund Trailing Returns (%)
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Mirae Asset Banking and Fin Srvcs Dir | 9.98 | 0.39 | 2.75 | 17.69 | 15.62 | 6.33 | — | — | — | — |
| S&P BSE Bankex TRI | 15.84 | 0.39 | 3.82 | 17.27 | 18.22 | 11.84 | — | — | — | — |
| Equity: Sectoral-Banking | 11.22 | 0.44 | 3.37 | 17.58 | 16.94 | 6.39 | — | — | — | — |
| Rank within category | 10 | 16 | 16 | 12 | 14 | 8 | — | — | — | — |
| Number of funds in category | 16 | 19 | 19 | 18 | 18 | 15 | 13 | 11 | 10 | 0 |
Mirae Asset Banking and Financial Services Fund Peer Comparison
| Fund name | Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age | Turn over (%) |
| Mirae Asset Banking and Fin Srvcs Dir | Unrated | 6.33 | — | — | 0.69 | 1,191 | 18.89 | 1.00 (365) | 1yrs 9mo | 13 |
| SBI Banking & Fin Srvices Dir | 5 star | 6.01 | 16.19 | 13.04 | 0.78 | 3,721 | 14.81 | 0.50 (30) | 7yrs 6mo | 106 |
| Tata Banking & Fin Srvcs Dir | 4 star | 3.07 | 14.9 | 10.19 | 0.65 | 1,109 | 17.74 | 0.25 (30) | 6yrs 8mo | 9.86 |
| Sundaram Fin Srvices Opp Dir | 4 star | 7.57 | 16.91 | 11.63 | 1.15 | 590 | 12.74 | 1.00 (365) | 9yrs 8mo | 54 |
| Invesco Ind Fin Srvices Dir | 4 star | 2.49 | 15.13 | 10.49 | 1.22 | 464 | 14.8 | 1.00 (365) | 9yrs 8mo | 19 |
Portfolio Analysis
| No. of Stocks : | 26 |
| Top 10 Stocks (%) : | 83.88% |
| Top 5 Stocks (%) : | 65.56% |
| Top 3 Sectors ((%) : | 99.14% |
| Portfolio P/B Ratio : | 2.49 |
| Portfolio P/E Ratio : | 18.15 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 2,50,090 | 2,70,010 |
| Giant (%) | 73.12 | 71.47 |
| Large (%) | 10.25 | 12.27 |
| Mid (%) | 13.59 | 13.79 |
| Small (%) | 3.04 | 4.95 |
| Tiny (%) | — | — |
Mirae Asset Banking and Financial Services Fund by Chanakya :
Do not invest in this, or any other banking sector fund, if you need to redeem your investment in less than seven years.
Apply Online :
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