September 13, 2022
mayank
Mirae Asset Banking And PSU Debt Fund
NAV Growth : Rs 10.7855
NAV IDCW : Rs 10.7857
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 seeks to generate income / capital appreciation through predominantly investing in debt and money market instruments issued by Banks, Public Sector Undertakings (PSUs) and Public Financial Institutions (PFIs) and Municipal Bonds.
Fund Manager :
1) Mahendra Kumar Jajoo
Education : Mr. Jajoo is a B.Com (H), CS, Chartered Accountant and CFA.
Experience : Prior to joining Mirae Asset Mutual Fund he was Director with AUM Capital Markets Ltd. and also been associated with organisations like PGIM India Mutual Fund, Tata Asset Management Company, BNP Paribas Asset Management India Pvt. Ltd., ABN Amro Securities India Pvt. Ltd. and ICICI Group.
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 : | 0 |
Basic Details
| Fund House : | Mirae Asset Mutual Fund |
| Launch Date : | 24-Jul-20 |
| Return Since Launch : | 3.60% |
| Benchmark : | CRISIL Banking and PSU Debt |
| Riskometer : | Low to Moderate |
| Type : | Open-ended |
| Assets : | Rs 107 Cr |
| (As on 31-Aug-2022) | |
| Expense Ratio : | 0.38% |
| (As on 31-Jul-2022) | |
| Risk Grade : | Above Average |
| Return Grade : | Below Average |
Mirae Asset Banking And PSU Debt Fund Trailing Returns (%)
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Mirae Asset Banking and PSU Debt Dir | 1.68 | 0.01 | 0.44 | 1.68 | 1.28 | 2.46 | — | — | — | — |
| CCIL T Bill Liquidity Weight | 1.46 | -0.02 | 0.18 | 0.72 | 1.08 | 2.04 | — | — | — | — |
| Debt: Banking and PSU | 2.25 | 0.03 | 0.57 | 1.91 | 1.76 | 3.11 | — | — | — | — |
| Rank within category | 18 | 17 | 17 | 15 | 15 | 17 | — | — | — | — |
| Number of funds in category | 22 | 23 | 22 | 22 | 22 | 22 | 17 | 16 | 14 | 0 |
Mirae Asset Banking And PSU Debt 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 |
| Mirae Asset Banking and PSU Debt Dir | 3 star | 2.46 | — | — | 0.38 | 107 | 3.6 | — | 2yrs 1mo |
| IDFC Banking & PSU Debt Dir | 5 star | 2.96 | 6.52 | 7.39 | 0.32 | 15,787 | 7.91 | — | 9yrs 6mo |
| Axis Banking & PSU Debt Dir | 5 star | 3.44 | 6.19 | 7.3 | 0.33 | 13,872 | 8 | — | 9yrs 8mo |
| ICICI Pru Banking & PSU Debt Dir | 4 star | 4.14 | 6.75 | 6.82 | 0.35 | 8,186 | 8.31 | — | 9yrs 8mo |
| Kotak Banking & PSU Debt Dir | 4 star | 3.44 | 6.69 | 7.28 | 0.36 | 6,968 | 8.32 | — | 9yrs 8mo |
Portfolio Breakup
| Fund | Category | |
| Number of Securities | 14 | 63 |
| Modified Duration (yrs) | 1.05 | 1.80 |
| Average Maturity (yrs) | 1.25 | 2.52 |
| Yield to Maturity (%) | 6.47 | 6.69 |
| Avg Credit Rating | AAA | — |
Mirae Asset Banking And PSU Debt Fund by Chanakya :
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