August 29, 2024
mayank
UTI Nifty Private Bank Index Fund details, Fund Portfolio, Fund Returns, Peer Comparison, Mutual Fund Guidance @chanakyamfguidance
Table of Contents:
- NFO Open date, Close date
- NFO Investment Strategy
- NFO Basic Details
- NFO Benchmark Index
- Past Performance of NFO Benchmark Index
- Performance Review of Fund Manager
- Should You Invest in this NFO?
- Invest Online
What is the UTI Nifty Private Bank Index Fund Open Date, Close Date?
NFO opens on September 02, 2024
NFO will close on September 16, 2024
What is the Investment Strategy?
The scheme seeks to provide returns that, before expenses, corresponds to the total return of the securities as represented by the underlying index, subject to tracking error.
Basic Details
| Fund House | UTI Mutual Fund |
| Issue Open | 02 September 2024 |
| Issue Close | 16 September 2024 |
| Type | Open-ended |
| Category | Equity: Sectoral-Banking |
| Min. Investment(Rs) | 5,000 |
| Plans | Growth |
| Lock-in Period | NA |
| Exit Load | 0 |
| Riskometer | Very High |
| Benchmark | Nifty Private Bank TRI |
What is the Benchmark Index of UTI Nifty Private Bank Index Fund?
The Nifty Private Bank Index is designed to reflect the performance of the banks from private sector.
Nifty Private Bank Index can be used for a variety of purposes such as benchmarking fund portfolios, launching of index funds, ETF’s and structured products.
Index Variant: Nifty Private Bank Total Returns Index
Past Performance of Benchmark Index
| Index Returns (%) | QTD | YTD | 1 Year | 5 Years | Since Inception |
| Price Return | -1.90 | 3.36 | 9.83 | 10.07 | 1828 |
| Total Return | -1.87 | 3.89 | 10.73 | 10.58 | 19.22 |
| Statistics ## | 1 Year | 5 Years | Since Inception |
| Std. Deviation * | 16.36 | 26.93 | 28.88 |
| Beta (NIFTY 50) | 1.09 | 1.25 | 1.17 |
| Correlation (NIFTY 50) | 0.85 | 0.89 | 0.87 |
Fundamentals
| P/E | P/B | Dividend Yield |
| 15.56 | 2.87 | 0.7 |
Top constituents by weightage
| Company’s Name | Weight(%) |
| ICICI Bank Ltd. | 26.09 |
| HDFC Bank Ltd. | 24.29 |
| Kotak Mahindra Bank Ltd. | 11.56 |
| IndusInd Bank Ltd. | 10.87 |
| Axis Bank Ltd. | 10.45 |
| Federal Bank Ltd. | 6.35 |
| IDFC First Bank Ltd. | 4.53 |
| Bandhan Bank Ltd. | 2.38 |
| RBL Bank Ltd. | 1.85 |
| City Union Bank Ltd. | 1.64 |
Performance Review of the Fund Managers of UTI Nifty Private Bank Index Fund?
1) Sharwan Kumar Goyal
Education: Mr.Goyal is B.Com, CFA and MMS.
Experience: He began his career with UTI in June 2006 and has 15 years of overall experience in Risk / Fund management. Presently he is working as Equity Fund Manager.
Past Performance of his Schemes
| Fund | UTI Nifty 50 ETF | It’s Benchmark | UTI Nifty Next 50 Exchange Traded Fund | It’s Benchmark |
| 1 Year | 31.18 | 36.00 | 70.26 | 36.00 |
| 3 Year | 15.75 | 17.77 | 23.77 | 17.77 |
| 5 Year | 18.99 | 20.52 | 24.44 | 20.52 |
| 7 Year | 15.42 | 15.98 | 16.12 | 15.98 |
| 10 Year | — | — | — | — |
AS On 29-8-2024
2) Ayush Jain
Education: Mr. Jain is B.Com, C.A and CFA (level 1).
Experience: Prior to joining UTI Mutual Fund, he has worked with PMS and Anand Saklecha & Co..
Past Performance of his Schemes
| Fund | UTI Nifty Bank ETF | It’s Benchmark | UTI Nifty200 Momentum 30 Index Fund | It’s Benchmark |
| 1 Year | 15.82 | 17.32 | 67.75 | 36.00 |
| 3 Year | 13.61 | 13.76 | 25.91 | 17.77 |
| 5 Year | — | — | — | — |
| 7 Year | — | — | — | — |
| 10 Year | — | — | — | — |
AS On 29-8-2024
Which Company Owns UTI Nifty Private Bank Index Fund?
UTI Asset Management Company Ltd
Address: UTI Tower, Plot C-1, GN Block, Banrda Kurla Complex, Bandra (East) Mumbai – 400051
Website: http://www.utimf.com
Registrar & Transfer Agent:
KFin Technologies Ltd.
Address: 303, Vamsee Estates, Opp. Big Bazaar, Ameerpet, Hyderabad – 500016
Website: www.karvymfs.com
Is it good to invest in UTI Nifty Private Bank Index NFO?
Guidance for UTI Nifty Private Bank Index Fund by Paresh Gordhandas, C.A., Research Analyst.
The UTI Nifty Private Bank Index Fund is based on the Nifty Private Bank Index as its benchmark. The performance of the benchmark Index is average to say the least. In the last one year, return generated by the Index is 9.83% and in the five year CAGR return is 10.07%. Now since this is an Index Fund, the Fund performance will not be higher than that of the underlying Index.
The Fund is being managed by two Fund Managers. We did a sample study of the other Funds managed by them (Refer table), however, their performance is also not upto the mark.
While some private banks have a good potential to generate returns, not all will be able to match the performance of the top banks and hence the average return is expected to come down. Hence, it is better to invest in select stocks in this sector then to invest in such a fund.
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