April 15, 2023
mayank
IDBI Banking & Financial Services Fund
NAV Growth: Rs 14.7900
NAV IDCW: Rs 14.7900
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 provide investors maximum growth opportunities and to achieve long term capital appreciation by predominantly investing in equity and equity related instruments of companies engaged in Banking and Financial Services Sector.
Fund Manager:
1) Alok Ranjan
Education: Mr. Ranjan has done MBA (Finance), BSc Physics (Honors)
Experience: Prior to joining IDBI Asset Management Limited he was associated with Shriram Asset Management Ltd. as Fund Manager (Equity), Way2wealth Securities Ltd. as Head of Research and Advisory and First Global Ltd. as Vice President- Research.
Investment Details
| Min. Investment (Rs) | 5,000 |
| Min. Addl Investment (Rs) | 1,000 |
| Min. SIP Investment (Rs) | 500 |
| Min. Withdrawal (Rs) | 1,000 |
| Min. No of Cheques | 12 |
| Min. Balance (Rs) | 1 |
| Lock-in Period | NA |
| Exit Load | 1% for redemption within 365 days |
Basic Details
| Fund House | IDBI Mutual Fund |
| Launch Date | 04-Jun-18 |
| Return Since Launch | 8.38% |
| Benchmark | NIFTY Financial Services TRI |
| Riskometer | Very High |
| Type | Open-ended |
| Assets | Rs 80 Cr |
| (As on 31-Mar-2023) | |
| Expense | 1.50% |
| (As on 28-Feb-2023) | |
| Risk Grade | Average |
| Return Grade | Below Average |
| Turnover | 2.00% |
IDBI Banking & Financial Services Fund Trailing Returns (%)
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| IDBI Banking & Fin Srvices Dir | -1.79 | 0.96 | 6.02 | 0.07 | 6.48 | 7.10 | 24.47 | — | — | — |
| S&P BSE Bankex TRI | -2.27 | 1.38 | 6.70 | -0.77 | 8.10 | 11.77 | 29.17 | — | — | — |
| Equity: Sectoral-Banking | -2.87 | 0.89 | 5.32 | -1.81 | 6.77 | 9.65 | 27.43 | — | — | — |
| Rank within category | 3 | 5 | 4 | 1 | 13 | 14 | 12 | — | — | — |
| Number of funds in category | 19 | 20 | 20 | 19 | 19 | 18 | 13 | 11 | 11 | 7 |
IDBI Banking & 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 | Turnover (%) |
| IDBI Banking & Fin Srvices Dir | 2 star | 7.10 | 24.47 | — | 1.50 | 80 | 8.38 | 1.00 (365) | 4yrs 10mo | 2.00 |
| SBI Banking & Fin Srvices Dir | 5 star | 4.32 | 25.40 | 11.46 | 0.78 | 3,767 | 13.36 | 0.50 (30) | 8yrs 1mo | 87.00 |
| Tata Banking & Fin Srvcs Dir | 4 star | 12.24 | 25.40 | 12.07 | 0.59 | 1,277 | 16.86 | 0.25 (30) | 7yrs 3mo | 10.66 |
| Sundaram Fin Srvices Opp Dir | 4 star | 12.81 | 29.28 | 12.63 | 0.51 | 614 | 12.46 | 1.00 (365) | 10yrs 3mo | 67.00 |
| ICICI Pru Banking & Fin Srvces Dir | 3 star | 6.45 | 29.98 | 9.49 | 1.09 | 6,167 | 14.97 | 1.00 (15) | 10yrs 3mo | 47.00 |
Portfolio Analysis
| No. of Stocks | 19 |
| Top 10 Stocks | 87.26% |
| Top 5 Stocks | 65.19% |
| Top 3 Sectors | 98.20% |
| Portfolio P/B Ratio | 2.63 |
| Portfolio P/E Ratio | 17.67 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 3,16,263 | 2,63,890 |
| Giant (%) | 81.38 | 69.57 |
| Large (%) | 10.05 | 15.44 |
| Mid (%) | 5.37 | 11.33 |
| Small (%) | 3.20 | 7.17 |
| Tiny (%) | — | — |
Chanakya’s Mutual Fund Guidance For IDBI Banking & Financial Services Fund
Do not invest in this, or any other banking sector fund, if you need to redeem your investment in less than seven years.
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