Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl

Equity
Direct
Elss (Tax Savings)
Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl

About the Fund

Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl is an equity fund. This fund was started on 26 February, 2018. The fund is managed by Dhruv Bhatia. The fund could potentially beat inflation in the long-run.

Key Parameters

  1. Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl has ₹66 Cr worth of assets under management (AUM) as on May 2024 and is less than category average.
  2. The fund has an expense ratio 1.1.

Returns

Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl has given a CAGR return of 17.90% since inception. Over the last 1, 3 and 5 years the fund has given a CAGR return of 49.13%, 22.24% and 26.81% respectively.

Holdings

Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl has allocated its funds majorly in Cash Equivalent, Financial Services, Consumer Cyclical, Industrial, Basic Materials, Health, Communication, Consumer Defensive, Tech, Energy, Real Estate. Its top holdings are UNO Minda Ltd, Astral Ltd, Steel Authority Of India Ltd, Bharat Heavy Electricals Ltd, Indus Towers Ltd Ordinary Shares

Taxation

As it is a elss (tax savings) mutual fund the taxation is as follows:
For short term (less than a year) capital gains will be taxed at 15%
For long term (more than 1 year) capital gains will be taxed at 10% without indexation benefit
Dividends will always be taxed at slab rate. Gains upto Rs 1 lakh are exempt in case of long term.

Investment objective of Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl

"The scheme seeks to generate capital appreciation over a period of ten years by investing predominantly in equity and equity-related securities of midcap companies along with income tax benefit. However, there is no assurance that the investment objective of the Scheme will be realized and the Scheme does not assure or guarantee any returns."

Minimum Investment and lockin period

Minimum investment for lump sum payment is INR 500.00 and for SIP is INR 0.00. There is a lock in period for Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl of 3 Years

Fund Performance

Fund Overview

Expense ratio1.09%
Benchmark
S&P BSE 500 India TR INR
AUM₹66 Cr
Inception Date26 February, 2018
Min Lumpsum/SIP--/--
Exit Load0%
Lock In3 Years
TurnOver
41.16%
Risk
Risk meter
pointer
Very High Risk

Fund Distribution
as on (31-May-24)

  • Equity 96.6%

  • Debt & Cash 3.4%

Mid cap
68.2%

Large cap
19.7%

Small cap
8.8%

Sector Allocation

May'24

Apr'24

Mar'24

Financial Services
24.4%
Consumer Cyclical
19.8%
Industrial
17.9%
Basic Materials
10.7%
Health
10.4%
Communication
7.7%
Consumer Defensive
3.1%
Tech
2.8%
Energy
1.7%
Real Estate
1.4%
All changes are between Mar'24 and May'24

Returns for the month of May

  • Gainers

  • Losers

Dhruv Bhatia
Dhruv Bhatia
Fund Manager of Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl, since 15 July 2019
Top funds managed
Scheme
Annualised Returns(3Y)
Category Returns(3Y)
Bank of India Small Cap Fund Direct Growth
29.01%
26.52%

Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl Highlights

Risk meter
pointer

Very High Risk

Investors understand that their principal will be at Very High Risk
About the fund

About the fund

This fund has delivered an average annual returns of 17.9% since inception which is more than its category average return of 16.46%
Fund Allocations

Fund Allocations

This fund has an allocation of 96.6% in Equity, 0% in Debt and 3.4% in Cash related instruments
AUM size ₹66 Cr

AUM size ₹66 Cr

This fund has AUM of ₹66 Cr which is less than its category average of ₹ 3681 Cr
Expense Ratio 1.09%

Expense Ratio 1.09%

This fund has an expense ratio of 1.09% which is less than its category average expense ratio of 1.46%

Frequently Asked Questions

The current NAV of Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl is ₹28.3 as on 18-Jun-2024.
Existing (Absolute + CAGR) as on 18-Jun-2024.
Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl
Absolute Returns
CAGR Returns
1 Month Returns
9.13%
9.13%
6 Month Returns
22.45%
22.45%
1 Year Returns
49.13%
49.13%
3 Years Returns
82.64%
22.24%
5 Years Returns
227.91%
26.81%
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1.09% as on May 2024
₹66 Cr as on May 2024
UNO Minda Ltd(5.55%), Astral Ltd(4.02%), Steel Authority Of India Ltd(3.13%), Bharat Heavy Electricals Ltd(2.93%), Indus Towers Ltd Ordinary Shares(2.92%) as on May 2024
Financial Services(23.61%), Consumer Cyclical(19.16%), Industrial(17.25%) as on May 2024
The alpha ratio for the Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl for various period is as follows:
Fund Name
Alpha 1 Year
Alpha 3 Years
Alpha 5 Years
Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl
6.49
2.95
6.74
As on May 2024
The alpha for Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl is calculated against S&P BSE 500 India TR INR. Higher alpha indicates that this fund has generated extra returns compared to the benchmark index. An alpha of 1.0 means the fund has outperformed its benchmark index by 1%.
The Beta ratio for the Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl for various period is as follows:
Fund Name
Beta 1 Year
Beta 3 Years
Beta 5 Years
Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl
1.01
0.99
0.9
As on May 2024
The Beta for Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl is calculated with S&P BSE 500 India TR INR. Beta tells the volatility of the mutual fund relative to its benchmark. If the beta of a mutual fund is more than 1, then the mutual fund is more volatile than its benchmark. If beta is less than 1, then the mutual fund is less volatile than the benchmark.
The sharpe ratio for the Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl for various period is as follows:
Fund Name
Sharpe Ratio 1 Year
Sharpe Ratio 3 Years
Sharpe Ratio 5 Years
Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl
2.6
1
0.99
As on May 2024
The sharpe ratio for Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl is calculated with S&P BSE 500 India TR INR. Sharpe ratio tells risk-adjusted-returns of the mutual fund. The higher a fund's Sharpe ratio, the better a fund's returns have been relative to the risk it has taken on.
The standard deviation for the Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl for various period is as follows:
Fund Name
Standard Deviation 1 Year
Standard Deviation 3 Years
Standard Deviation 5 Years
Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl
11.72
14.9
19
As on May 2024
Standard deviation tells the volatility of the returns of the mutual fund. The higher a fund's Standard deviation, the higher the volatility of the fund's returns.
Sortino ratio is 1.82 as on May 2024. Sortino ratio tells the downside risk-adjusted-returns of the mutual fund.
Information ratio is 0.4 as on May 2024. It tells the consistency of the fund in generating superior risk-adjusted performance
Dhruv Bhatia is the fund manager of Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl
The Exit load of Bank of India Midcap Tax Fund Series 1 Direct Income Dist cum Cap Wdrl is 0%