Mirae Asset Banking and Financial Services Fund Di...
(Scheme Rating)
NAV as of Aug 30, 2024
19.740.43%
(Earn upto 1.45% Extra Returns with Direct Plan)
Fund Category:
Equity: Sectoral-Banking
Expense Ratio:
0.60%(0.62% Category
average)Fund Size:
Rs. 1,835.17 Cr(4.53% of Investment in Category)
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Mirae Asset Banking and Financial Services Fund Direct-I...
(Scheme Rating)
NAV as of Aug 30, 2024
19.740.43%
Expense Ratio:
0.60%
Fund Size:
Rs. 1,835.17 Cr
Fund Category:
Equity: Sectoral-Banking
1. Current NAV: The Current Net Asset Value of the Mirae Asset Banking and Financial Services Fund - Direct Plan as of Aug 30, 2024 is Rs 19.74 for IDCW option of its Direct plan.
2. Returns: Its trailing returns over different time periods are: 23.9% (1yr), 17.12% (3yr) and 20.12% (since launch). Whereas, Category returns for the same time duration are: 24.78% (1yr), 16.52% (3yr) and 15.59% (5yr).
3. Fund Size: The Mirae Asset Banking and Financial Services Fund - Direct Plan currently holds Assets under Management worth of Rs 1835.17 crore as on Jul 31, 2024.
4. Expense ratio: The expense ratio of the fund is 0.6% for Direct plan as on Aug 01, 2024.
5. Exit Load: Mirae Asset Banking and Financial Services Fund - Direct Plan shall attract an Exit Load, "Exit load of 1% if redeemed within one year."
6. Minimum Investment: Minimum investment required is Rs 5000 and minimum additional investment is Rs 1000. Minimum SIP investment is Rs 500.
Mirae Asset Banking and Financial Services Fund Direct-IDCW Returns
Trailing Returns
Rolling Returns
Discrete Period
SIP Returns
1M 3M 6M 1Y 3Y 5Y Annualized Returns -0.37 9.45 13.75 24.89 16.10 - Category Avg 0.03 6.53 11.90 26.24 15.67 15.90 Rank within Category 28 12 15 14 5 - No. of funds within Category 54 51 49 43 28 18 - Loading...
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Return Comparison
- This Fund
- BenchmarkNIFTY Financial Services Total Return Index
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Mirae Asset Banking and Financial Services Fund Direct-IDCW Fund Details
Investment Objective - The scheme seeks to generate long-term capital appreciation from a portfolio that is invested predominantly in equity and equity related securities of companies engaged in banking and financial services sector.
Fund House | Mirae Asset Mutual Fund |
Launch Date | Dec 11, 2020 |
Benchmark | NIFTY Financial Services Total Return Index |
Return Since Launch | 20.17% |
Riskometer | Very High |
Type | Open-ended |
Risk Grade | Average |
Return Grade | Above Average |
Mirae Asset Banking and Financial Services Fund Direct-IDCW Investment Details
Minimum Investment (Rs.) | 5,000.00 |
Minimum Additional Investment (Rs.) | 1,000.00 |
Minimum SIP Investment (Rs.) | 500.00 |
Minimum Withdrawal (Rs.) | - |
Exit Load Exit load of 1% if redeemed within one year. |
Portfolio Allocation
Asset Allocation
Asset Allocation History
Sector Allocation
Market Cap Allocation
Concentration & Valuation Analysis
JUL 2024 | JUN 2024 | MAY 2024 | APR 2024 | MAR 2024 | FEB 2024 | |
---|---|---|---|---|---|---|
Number of Holdings | 30 | 32 | 33 | 31 | 30 | 30 |
Top 5 Company Holdings | 53.89% | 55.73% | 57.46% | 59.16% | 58.98% | 58.66% |
Top 10 Company Holdings | 69.55% | 70.88% | 73.02% | 73.73% | 73.64% | 74.12% |
Company with Highest Exposure | HDFC Bank (16.45%) | HDFC Bank (17.96%) | HDFC Bank (17.81%) | HDFC Bank (18.25%) | HDFC Bank (18.57%) | ICICI Bank (17.99%) |
Number of Sectors | 3 | 3 | 3 | 3 | 3 | 3 |
Top 3 Sector Holdings | 98.83% | 98.54% | 99.44% | 98.3% | 99.31% | 99.15% |
Top 5 Sector Holdings | 98.83% | 98.54% | 99.44% | 98.3% | 99.31% | 99.15% |
Sector with Highest Exposure | Financial (91.2%) | Financial (92.59%) | Financial (94.36%) | Financial (93.94%) | Financial (93.49%) | Financial (93.77%) |
Top Stock Holdings
Sector Holdings in MF
Company Sector Assest(%) P/E EPS-TTM(₹) RETURN 1 YR(%) HDFC Bank Financial 16.45 18.27 89.60 3.03 ICICI Bank Financial 16.28 18.65 65.91 26.26 State Bank of India Financial 8.41 10.55 77.28 41.69 Axis Bank Financial 6.91 13.59 86.50 19.85 The Federal Bank Financial 5.84 11.83 16.46 35.63 India Shelter Finance Corporation Financial 4.34 - - - LIC Housing Fin. Financial 2.96 7.81 86.37 59.69 SBI Life Insurance Company Insurance 2.87 - - - L&T Fin Financial 2.81 17.04 9.94 37.91 Bajaj Finance Financial 2.68 29.86 241.14 -3.15
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Peer Comparison
Cumulative Returns
SIP returns
Discrete Returns
Quant Measures
Asset Allocation
Scheme Name NAV(Rs./Unit) Scheme Rating AUM(Rs. Cr) 1M 1Y 3Y 5Y Mirae Asset Banking and Financial Services Fund Direct-IDCW 19.74 1,835.17 -0.37 24.89 16.10 - Sundaram Financial Services Opportunities Fund Direct-IDCW 37.74 1,409.46 1.50 33.76 20.33 20.82 Nippon India Banking & Financial Services Fund Direct-IDCW 105.19 6,029.38 1.46 28.38 18.82 18.62 Invesco India Financial Services Fund Direct-IDCW 77.03 948.64 1.85 43.21 18.66 19.77 SBI Banking & Financial Services Fund Direct-IDCW 37.27 5,979.63 0.47 36.75 16.17 18.30
Risk Ratios
Ratios are calculated using the calendar month returns for the last 3 years
Standard Deviation
Standard Deviation
Standard deviation is the deviation of the fund's return around mean.
High Volatality
15.33VS15.26Fund Vs Category Avg
Beta
Beta
Beta shows the portfolio risk in relation to the market. A beta of less than 1 means that the fund returns are less volatile compared to the broader market. A beta of more than 1 means that the fund returns are more volatile than the broader markets. A beta equal to 1 means that fund's volatility is in line with the broader market.
Moderate Volatility
0.89VS0.89Fund Vs Category Avg
Sharpe Ratio
Sharpe Ratio
Sharpe ratio is a risk adjusted performance measure. A fund with a higher Sharpe ratio is considered better than a fund with a lower Sharpe ratio.
Better risk-adjusted returns
0.84VS0.78Fund Vs Category Avg
Treynor's Ratio
Treynor's Ratio
Treynor is a risk adjusted performance measure. A fund with a higher Treynor ratio is considered better than a fund with a lower Treynor ratio.
Better risk-adjusted returns
14.53VS13.37Fund Vs Category Avg
Jensen's Alpha
Jensen's Alpha
Alpha shows the ability of the fund manager to outperform the market. A higher Alpha is preferred.
Better risk-adjusted returns
3.95VS2.86Fund Vs Category Avg
Mean Return
Mean Return
Average return generated by the fund during a specified period.
Better average monthly returns
18.49VS17.42Fund Vs Category Avg
Risk Ratio Chart
- Risk Ratio
- Category Average
Mirae Asset Mutual Fund News
Fund Manager
- G.K.Gaurav KocharSince Nov 20200 schemes
Mr. Kochar is a Chartered Accountant Prior to joining Mirae Asset Mutual Fund, he has worked with Kotak Bank as an Internal Auditor for 3 years, later worked for almost 2.5 years in Ambit Capital as a Research Analyst – Banking.
No schemes for the Fund Manager
More Mirae Asset Mutual Fund
Scheme Name | Rating | Asset Size(Cr) | 1M | 3M | 6M | 1Y | 3Y |
---|---|---|---|---|---|---|---|
Mirae Asset Large Cap Fund Direct- Growth | 37,631.07 | 5.71 | 9.84 | 11.50 | 26.08 | 15.16 | |
Mirae Asset Large & Midcap Fund Direct-Growth | 35,272.60 | 5.52 | 14.15 | 16.95 | 41.47 | 19.71 | |
Mirae Asset ELSS Tax Saver Fund Direct-Growth | 22,620.57 | 5.50 | 13.17 | 16.07 | 37.38 | 19.01 | |
Mirae Asset Midcap Fund Direct - Growth | 15,353.87 | 6.08 | 19.03 | 20.87 | 51.46 | 25.67 | |
Mirae Asset Liquid Fund Direct- Growth | 11,570.11 | 0.61 | 1.88 | 3.77 | 7.38 | 5.80 | |
Mirae Asset Aggressive Hybrid Fund Direct-Growth | 8,563.76 | 5.34 | 9.90 | 12.94 | 27.28 | 15.50 | |
Mirae Asset Focused Fund Direct - Growth | 7,920.31 | 5.13 | 8.25 | 8.42 | 19.79 | 12.36 | |
Mirae Asset Great Consumer Fund Direct-Growth | 3,409.20 | 6.12 | 16.82 | 16.97 | 36.26 | 24.29 | |
Mirae Asset Multicap Fund Direct - Growth | 2,778.68 | 5.40 | 15.27 | 16.92 | - | - | |
Mirae Asset Healthcare Fund Direct - Growth | 2,201.96 | 5.20 | 8.38 | 20.17 | 47.94 | 16.69 |
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1. Mirae Asset Banking and Financial Services Fund - Direct Plan is Open-ended Sectoral-Banking Equity scheme which belongs to Mirae Asset Mutual Fund House.
2. The fund was launched on Dec 11, 2020.
Investment objective & Benchmark
1. The investment objective of the fund is that " The scheme seeks to generate long-term capital appreciation from a portfolio that is invested predominantly in equity and equity related securities of companies engaged in banking and financial services sector. "
2. It is benchmarked against NIFTY Financial Services Total Return Index.
Asset Allocation & Portfolio Composition
1. The asset allocation of the fund comprises around 98.84% in equities, 0.0% in debts and 1.16% in cash & cash equivalents.
2. While the top 10 equity holdings constitute around 69.55% of the assets, the top 3 sectors constitute around 98.83% of the assets.
3. The fund largely follows a Growth oriented style of investing and invests across market capitalisations - around 0.0% in giant & large cap companies, 0.0% in mid cap and 0.0% in small cap companies.
Tax Implications on Mirae Asset Banking and Financial Services Fund Direct-IDCW
1. Gains are taxed at a rate of 15% (Short-term Capital Gain Tax - STCG) if units are redeemed within 1 year of investment.
2. For units redeemed after 1 year of investment, gains of upto Rs. 1 lakh accruing from those units in a financial year shall be exempted from tax.
3. Gains of more than Rs. 1 lakh will be taxed at a rate of 10% (Long-term Capital Gain Tax - LTCG).
4. For Dividend Distribution Tax, the dividend income from this fund will get added to the income of an investor and taxed according to his/her respective tax slabs.
5. Also, for dividend income in excess of Rs 5,000 in a financial year; the fund house shall deduct a TDS of 10% on such income.
This Might Catch Your Interest
FAQs about Mirae Asset Banking and Financial Services Fund Direct-IDCW
- Is it safe to invest in Mirae Asset Banking and Financial Services Fund - Direct Plan?As per SEBI’s latest guidelines to calculate risk grades, investment in the Mirae Asset Banking and Financial Services Fund - Direct Plan comes under Very High risk category.
- What is the category of Mirae Asset Banking and Financial Services Fund - Direct Plan?Mirae Asset Banking and Financial Services Fund - Direct Plan belongs to the Equity : Sectoral-Banking category of funds.
- How Long should I Invest in Mirae Asset Banking and Financial Services Fund - Direct Plan?The suggested investment horizon of investing into Mirae Asset Banking and Financial Services Fund - Direct Plan is >3 years. The suggested investment horizon is the minimum time required for holding investments in the fund to reduce its downside risk and ensure that the returns become more predictable.
- Who manages the Mirae Asset Banking and Financial Services Fund - Direct Plan?The Mirae Asset Banking and Financial Services Fund - Direct Plan is managed by Gaurav Kochar (Since Nov 25, 2020).
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