October 4, 2023
mayank
LIC MF Banking & PSU Fund details, NAV, Portfolio, Returns, Peer Comparison, Fund Managers & Guidance by Sahifund.com
NAV Growth: Rs 32.4974
IDCW Weekly NAV: Rs 10.0544
NAV IDCW Monthly: Rs 12.2389
IDCW Daily NAV: Rs 13.1490
Suitable For Which Investors?
“Banking and PSU funds invest mainly in bonds issued by banks, public sector undertakings (PSUs) and public financial institutions. They are suitable for a short investment horizon of two to three years, or for the fixed-income allocation in your longer-term portfolio. You can expect to earn higher returns than what a bank fixed deposit can fetch.
The risk of incurring a loss in these funds is low, but they do not guarantee returns or safety of capital like a bank deposit.
Remember, their returns may not be substantially higher than inflation. They are meant to deliver steady, but low to moderate returns and are not suitable to build wealth in the long run.”
Fund’s Investment Strategy:
The Scheme seek to generate income and capital appreciation by primarily investing in a portfolio of high quality Debt and Money Market Securities that are issued by Banks, Public Sector Undertakings, Public Financial Institutions and Municipal Bonds.
Fund Manager:
1) Marzban Irani
Education: Mr. Irani is a B.Com (H) from Mumbai University and holds a PGDBM from Chetna’s Institute of Management & Research, Mumbai.
Experience: Prior to joining LIC Mutual Fund he was associated with DSP Investment Managers (Jun 2014-Jul 2016) as VP Fixed Income, Tata Asset Management (Jun 2011-May 2014) as Senior Fund Manager Fixed Income, PNB MetLife India Insurance (Sep 2010-May 2011) as Fund Manager Fixed Income, Mirae Asset Global Investment Management India Pvt. Ltd. (Jan 2008-Jul 2010) as Fund Manager Fixed Income and Tata Asset Management Limited (Sep 2000-Nov 2007) as Fund Manager Fixed Income.
2) Pratik Harish Shroff
Education: Mr. Shroff has done B.Com, M.Com, CFA, FRM and Executive Programme in Applied Finance – IIM, Calcutta
Experience: Prior to joining LIC Mutual Fund, he was associated with CTBC Bank Ltd, IndusInd Bank Ltd, Industrial and Commercial Bank of China, Tata Mutual Fund and LKP Securities.
Investment Details
| Min. Investment (Rs) | 5,000 |
| Min. Addl Investment (Rs) | 500 |
| Min. SIP Investment (Rs) | 1,000 |
| Min. Withdrawal (Rs) | 500 |
| Min. No of Cheques | 12 |
| Min. Balance (Rs) | — |
| Lock-in Period | NA |
| Exit Load | 0 |
Basic Details of LIC MF Banking & PSU Fund
| Fund House | LIC Mutual Fund |
| Launch Date | 03-Jan-13 |
| Return Since Launch | 7.34% |
| Benchmark | NIFTY Banking and PSU Debt Index |
| Riskometer | Moderate |
| Type | Open-ended |
| Assets | Rs 1,118 Cr |
| (As on 31-Aug-2023) | |
| Expense | 0.28% |
| (As on 31-Aug-2023) | |
| Risk Grade | Below Average |
| Return Grade | Below Average |
LIC MF Banking & PSU Fund Trailing Returns (%)
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| LIC MF Banking & PSU Debt Dir | 5.35 | 0.04 | 0.42 | 1.45 | 3.56 | 7.01 | 4.67 | 6.95 | 6.86 | 7.27 |
| CCIL T Bill Liquidity Weight | 3.24 | 0.01 | 0.33 | 1.04 | 2.36 | 4.27 | 2.80 | 3.30 | 3.51 | 4.08 |
| Debt: Banking and PSU | 5.34 | 0.05 | 0.47 | 1.53 | 3.58 | 7.07 | 5.12 | 7.27 | 7.00 | 7.85 |
| Rank within category | 12 | 16 | 19 | 16 | 12 | 12 | 15 | 12 | 10 | 8 |
| Number of funds in category | 22 | 22 | 22 | 22 | 22 | 22 | 18 | 16 | 14 | 9 |
LIC MF Banking & PSU Fund Peer Comparison
| Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age | |
| LIC MF Banking & PSU Debt Dir | 3 star | 7.01 | 4.67 | 6.95 | 0.28 | 1,118 | 7.34 | — | 10Y 9M |
| Bandhan Banking & PSU Debt Dir | 4 star | 6.89 | 5.09 | 7.92 | 0.32 | 14,856 | 7.79 | — | 10Y 6M |
| Axis Banking & PSU Debt Dir | 4 star | 6.86 | 4.98 | 7.45 | 0.34 | 14,541 | 7.83 | — | 10Y 9M |
| ABSL Banking & PSU Debt Dir | 4 star | 7.11 | 5.37 | 7.54 | 0.36 | 8,381 | 8.49 | — | 10Y 9M |
| ICICI Pru Banking & PSU Debt Dir | 5 star | 7.60 | 6.02 | 7.57 | 0.39 | 8,338 | 8.21 | — | 10Y 9M |
Portfolio Breakup
| Fund | Category | |
| Number of Securities | 30 | 53 |
| Macaulay Duration (yrs) | 2.43 | 2.73 |
| Average Maturity (yrs) | 2.79 | 4.02 |
| Yield to Maturity (%) | 7.42 | 7.51 |
| Avg Credit Rating | AAA | — |
Chanakya’s Mutual Fund Guidance For LIC MF Banking & PSU Fund
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