December 24, 2025
RA Jainee
Bank of India Banking & Financial Services Fund Direct-Growth
Bank of India Banking & Financial Services Fund Direct-Growth snapshot
| NFO opens on | 08 January 2026 |
| NFO Closes on | 22 January 2026 |
| Min. Investment | Rs. 5000 |
| Plans | Growth, IDCW |
| Sahifund Verdict | Bank of India Banking & Financial Services Fund is a sectoral equity fund focused on banks and financial services companies. The scheme offers high exposure to market leaders like HDFC Bank, ICICI Bank and SBI, aligned with the NIFTY Financial Services TRI. While the sector has delivered steady long-term returns, this fund carries Very High risk due to concentration in a single sector. Suitable only for investors with strong conviction in the financials theme and a long-term horizon. |
⏱️ Last Update: 25 December 2025, 10.00 AM
Table of Contents:
1. NFO Open date, Close date
2. NFO Investment Strategy
3. Basic Details NFO
4. Benchmark Index NFO
5. Fund Manager | Performance Review of Fund Manager
6. Should You Invest in this NFO?
7. Invest Online
What is the Bank of India Banking & Financial Services Fund Direct-Growth Open Date, Close Date?
NFO opens on January 08, 2026
NFO will close on January 22, 2026
Investment Strategy for this NFO?
The scheme seeks to generate long-term capital appreciation by investing predominantly in equity and equity related instruments of banking and financial services companies.
Basic Details
| Fund House | Bank of India Mutual Fund |
| Issue Open | 08 January 2026 |
| Issue Close | 22 January 2026 |
| Type | Open-ended |
| Category | Equity: Sectoral-Banking |
| Min. Investment(₹) | 5,000 |
| Plans | Growth, IDCW |
| Lock-in Period | NA |
| Exit Load | 1% for redemption within 60 days |
| Riskometer | Very High |
| Benchmark | NIFTY Financial Services TRI |
About Benchmark Index for this NFO?
The Nifty Financial Services Index is designed to reflect the behaviour and performance of the Indian financial market which includes banks, financial institutions, housing finance, insurance companies and other financial services companies. The Nifty Finance Index comprises of 20 stocks that are listed on the National Stock Exchange (NSE).
Nifty Financial Services Index is computed using free float market capitalization method, wherein the level of the index reflects the total free float market value of all the stocks in the index relative to particular base market capitalization value.
Nifty Financial Services Index can be used for a variety of purposes such as benchmarking fund portfolios, launching of index funds, ETFs and structured products.
Index Variant: Nifty Financial Services Total Returns Index.
Portfolio Characteristics
| Methodology | Periodic Capped Free Float |
| No. of Constituents | 20 |
| Launch Date | September 07, 2011 |
| Base Date | January 01, 2004 |
| Base Value | 1000 |
| Calculation Frequency | Real-Time |
| Index Rebalancing | Semi-Annually |
Fund Managers of Bank of India Banking & Financial Services Fund Direct-Growth
1) Nilesh Jethani
Education: Mr. Jethani has done Bachelor of Financial Markets from HR College and Postgraduate Program in Global Financial Markets from BSE Institute Ltd.
Experience: Prior to joining Bank of India Mutual Fund, he has worked with HDFC Securities, HDFC Bank, and ASK Investment Managers
AMC
Bank of India Investment Managers Private Limited
Address: B/204-Tower 1, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400013
Website: https://www.boimf.in/
Registrar & Transfer Agent
KFin Technologies Ltd.
Address: 303, Vamsee Estates, Opp. Big Bazaar, Ameerpet, Hyderabad – 500016
Website: https://mfs.kfintech.com/mfs/
Review for Bank of India Banking & Financial Services Fund Direct-Growth @ sahifund.com by Paresh Gordhandas, C.A. & Research Analyst
[ A ] Benchmark Performance of NIFTY Financial Services TRI
Performance
| Index Returns (%)# | QTD | YTD | 1 Year | 5 Years | Since Inception |
| Price Return | 7.18 | 18.62 | 16.16 | 14.30 | 16.39 |
| Total Return | 7.22 | 19.79 | 17.31 | 15.30 | 17.66 |
| Statistics ## | 1 Year | 5 Years | Since Inception |
| Std. Deviation * | 13.66 | 17.49 | 27.06 |
| Beta (NIFTY 50) | 1.00 | 1.11 | 1.15 |
| Correlation (NIFTY 50) | 0.88 | 0.89 | 0.90 |
Fundamentals
| P/E | P/B | Dividend Yield |
| 18.2 | 2.91 | 0.93 |
Top constituents by weightage
| Company’s Name | Weight(%) |
| HDFC Bank Ltd. | 31.76 |
| ICICI Bank Ltd. | 20.46 |
| State Bank of India | 8.38 |
| Axis Bank Ltd. | 7.56 |
| Kotak Mahindra Bank Ltd. | 6.45 |
| Bajaj Finance Ltd. | 5.70 |
| Bajaj Finserv Ltd. | 2.47 |
| Shriram Finance Ltd. | 2.46 |
| BSE Ltd. | 2.45 |
| Jio Financial Services Ltd. | 2.07 |
Past Performance of Nilesh Jethani
| Fund | Bank of India Multi Asset Allocation Fund | It’s Benchmark | Bank of India Large Cap Fund | It’s Benchmark |
| 1 Year | 9.86 | 12.64 | 4.58 | 10.24 |
| 3 Year | — | — | 16.74 | 16.33 |
| 5 Year | — | — | — | — |
| 7 Year | — | — | — | — |
| 10 Year | — | — | — | — |
As on 24-12-2025
[B] Review of Fund Managers
Nilesh Jethani
-
Background: Mr. Jethani has done Bachelor of Financial Markets from HR College and Postgraduate Program in Global Financial Markets from BSE Institute Ltd., Prior to joining Bank of India Mutual Fund, he has worked with HDFC Securities, HDFC Bank, and ASK Investment Managers
Sahifund Verdict:
Bank of India Banking & Financial Services Fund is an open-ended sectoral fund that aims to generate long-term capital appreciation by investing predominantly in equity and equity-related instruments of banking and financial services companies. The scheme is benchmarked against the NIFTY Financial Services TRI, which represents 20 leading banks, NBFCs, insurance and financial services companies.
The index has delivered ~15% CAGR over the last five years, reflecting steady growth supported by credit expansion, financialisation and improving asset quality.
The portfolio is highly concentrated, with HDFC Bank and ICICI Bank together accounting for over 50% weight, which can amplify both gains and losses.
Valuations appear reasonable (P/E ~18x) compared to broader markets, but sector cycles and regulatory changes remain key risks.
The fund is managed by Nilesh Jethani, who has prior experience with HDFC group entities and ASK Investment Managers, though his long-term fund track record is still limited.
Sahifund Verdict:
Not suitable for conservative investors; better considered as a satellite allocation rather than a core holding.
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
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