Groww Banking & Financial Services Fund Direct Growth

Groww Banking & Financial Services Fund Direct Growth

Equity

Direct

Sector - Financial Services

NAV as on 31-10-2024

₹ 11.24

-1.4%

1D

Inception Returns

13%

/yr

About Groww Banking & Financial Services Fund Direct Growth

Groww Banking & Financial Services Fund Direct Growth is an equity fund. This fund was started on 7 February, 2024. The fund is managed by . The fund could potentially beat inflation in the long-run.

Key Parameters

  1. Groww Banking & Financial Services Fund Direct Growth has ₹45 Cr worth of assets under management (AUM) as on Sep 2024 and is less than category average.
  2. The fund has an expense ratio 0.4.

Returns

Groww Banking & Financial Services Fund Direct Growth has given a CAGR return of 13.00% since inception.

Holdings

Groww Banking & Financial Services Fund Direct Growth has allocated its funds majorly in Cash Equivalent, Financial Services, Tech. Its top holdings are ICICI Bank Ltd, HDFC Bank Ltd, Axis Bank Ltd, State Bank of India, Bajaj Finance Ltd

Taxation

As it is a sector - financial services 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 Groww Banking & Financial Services Fund Direct Growth

The primary investment objective of the scheme is to generate consistent long-term returns by investing in equity and equity-related instruments of banking and financial services companies and other related sectors/companies. The fund aims to capitalize on the growth opportunities and growth potential of various sub-sectors within the BFSI sector, including (but not limited to) banks, NBFCs, insurance companies, asset management companies, capital market participants, fintech players etc. (This includes companies benefiting from or contributing to the growth of the banking and financial services sector).

Minimum Investment and lockin period

Minimum investment for lump sum payment is INR 500.00 and for SIP is INR 100.00. Groww Banking & Financial Services Fund Direct Growth has no lock in period.

Historical NAV & Returns

Annualised

zero opening, trading, fund transfer fee
1564 people have invested ₹ 18.7L in Groww Banking & Financial Services Fund Direct Growth in the last three months

Groww Banking & Financial Services Fund Direct Growth Overview

Expense ratio0.36%
Benchmark
S&P BSE BANKEX INR
AUM₹45 Cr
Inception Date7 February, 2024
Min Lumpsum/SIP₹500/₹100
Exit Load
1.0%
Lock InNo Lock-in
TurnOver
609.58%
STCGRedeeming before 1 year, returns taxed at 20%.
LTCGAfter 1 year, 12.5% tax on returns over ₹1.25 lakh/year.
Risk
Risk meter
pointer
Very High Risk

Trailing Returns

as on (31-Oct-24)

Period
Groww Banking & Financial Services Fund Direct Growth
Nifty 500
sector - financial services
1M
-1.4%
-6.4%
-2.8%
3M
3.2%
-3.6%
0%
6M
7.2%
8.1%
4.9%

Fund Distribution

as on (30-Sep-24)

  • Equity 96.8%

  • Debt & Cash 3.3%

Large cap
67.4%

Small cap
18.5%

Mid cap
10.9%

Sector Allocation

Sep'24

Aug'24

Jul'24

Financial Services
98.1%
Tech
1.9%
All changes are between Jul'24 and Sep'24
Sep'24
Aug'24
Jul'24
Fund Returns
3.32%
0.90%
-0.21%
Nifty 500
2.04%
0.97%
3.53%
  • This fund’s returns stands at 3.32% whereas the fund’s underlying benchmark Nifty 500 returns stands at 2.04% as on Sep'24
  • This fund outperformed Nifty 500 by 1.28% in Sep'24
Parameters
Sep'24
Aug'24
Jul'24
AUM
₹ 41.7 Cr
₹ 41.7 Cr
₹ 40.7 Cr
  • AUM of the fund stands at 41.7 Cr as of Sep'24
  • AUM has remained same between Sep'24 and Aug'24
Top Stocks bought last month
Axis Bank Ltd's allocation increased from 6.06% to 7.79%
Axis Bank Ltd's allocation increased from 6.06% to 7.79%
Bajaj Finance Ltd's allocation increased from 3.48% to 4.54%
Bajaj Finance Ltd's allocation increased from 3.48% to 4.54%
India Shelter Finance Corporation Ltd's allocation increased from 1.1% to 1.65%
India Shelter Finance Corporation Ltd's allocation increased from 1.1% to 1.65%
Top Stocks sold last month
ICICI Bank Ltd's allocation decreased from 20.34 % to 19.66 %
ICICI Bank Ltd's allocation decreased from 20.34 % to 19.66 %
HDFC Bank Ltd's allocation decreased from 22.82 % to 17.27 %
HDFC Bank Ltd's allocation decreased from 22.82 % to 17.27 %
State Bank of India's allocation decreased from 6.49 % to 6.39 %
State Bank of India's allocation decreased from 6.49 % to 6.39 %
Mid Cap allocation has gone up from 2.6% to 10.9%
Mid Cap allocation has gone up from 2.6% to 10.9%
Large Cap allocation has gone down from 76.5% to 67.4%
Large Cap allocation has gone down from 76.5% to 67.4%
Small Cap allocation has gone up from 13.1% to 18.5%
Small Cap allocation has gone up from 13.1% to 18.5%
Cash allocation has gone down from 7.9% to 3.2%
Cash allocation has gone down from 7.9% to 3.2%

Top 2 Sectors in September were Financial Services, Tech

Sep'24
Financial Services
98%
Tech
2%
Aug'24
Financial Services
100%
Fund
Sep'24
Aug'24
Jul'24
No of Holdings
28
20
21
Top 5 Company Concentration
55.6%
62.1%
63.6%
Company having highest exposure
ICICI Bank Ltd (19.7%)
HDFC Bank Ltd (22.8%)
HDFC Bank Ltd (23.1%)
No of Sectors
2
1
1
Top 5 Sectors Concentration
100%
100%
100%
Sector having highest exposure
Financial Services (98.1%)
Financial Services (100%)
Financial Services (100%)
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Fund House
Groww Asset Management Ltd.
Total Schemes
Total AUM
₹1.86K Cr
as on 30-Sep-2024
Address
Floor 12 A, Tower 2 A, One World Centre,,Jupiter Mills Compound Senapati Bapat Marg,Mumbai,Maharashtra
Phone
8050180222
Website
support@growwmf.in

Groww Banking & Financial Services Fund Direct Growth 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 returns of 13.00% since inception (7th February 2024)
Fund Allocations

Fund Allocations

This fund has an allocation of 96.75% in Equity, 0% in Debt and 3.25% in Cash related instruments
AUM size ₹45 Cr

AUM size ₹45 Cr

This fund has AUM of ₹45 Cr which is less than its category average of ₹ 1762 Cr
Expense Ratio 0.36%

Expense Ratio 0.36%

This fund has an expense ratio of 0.36% which is less than its category average expense ratio of 1.37%

Frequently Asked Questions for Groww Banking & Financial Services Fund Direct Growth

The current NAV of Groww Banking & Financial Services Fund Direct Growth is ₹11.24 as on 31-Oct-2024.
Existing (Absolute + CAGR) as on 31-Oct-2024.
Groww Banking & Financial Services Fund Direct Growth
Absolute Returns
CAGR Returns
1 Month Returns
-1.38%
-1.38%
6 Month Returns
7.22%
7.22%
1 Year Returns
0%
0%
3 Years Returns
0%
0%
5 Years Returns
0%
0%
With INDmoney, the process of investing is very simple and involves zero commission.
  • Click Buy on the fund name.
  • Input the amount you are looking to invest.
  • Select Lump Sum or SIP (Weekly, Monthly or Quarterly).
  • Select your bank account and proceed with Payment.
0.36% as on October 2024
₹45 Cr as on October 2024
ICICI Bank Ltd(19.66%), HDFC Bank Ltd(17.27%), Axis Bank Ltd(7.79%), State Bank of India(6.39%), Bajaj Finance Ltd(4.54%) as on October 2024
The alpha ratio for the Groww Banking & Financial Services Fund Direct Growth for various period is as follows:
Fund Name
Alpha 1 Year
Alpha 3 Years
Alpha 5 Years
Groww Banking & Financial Services Fund Direct Growth
-
-
-
As on October 2024
The alpha for Groww Banking & Financial Services Fund Direct Growth is calculated against S&P BSE BANKEX 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 Groww Banking & Financial Services Fund Direct Growth for various period is as follows:
Fund Name
Beta 1 Year
Beta 3 Years
Beta 5 Years
Groww Banking & Financial Services Fund Direct Growth
-
-
-
As on October 2024
The Beta for Groww Banking & Financial Services Fund Direct Growth is calculated with S&P BSE BANKEX 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 Groww Banking & Financial Services Fund Direct Growth for various period is as follows:
Fund Name
Sharpe Ratio 1 Year
Sharpe Ratio 3 Years
Sharpe Ratio 5 Years
Groww Banking & Financial Services Fund Direct Growth
-
-
-
As on October 2024
The sharpe ratio for Groww Banking & Financial Services Fund Direct Growth is calculated with S&P BSE BANKEX 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 Groww Banking & Financial Services Fund Direct Growth for various period is as follows:
Fund Name
Standard Deviation 1 Year
Standard Deviation 3 Years
Standard Deviation 5 Years
Groww Banking & Financial Services Fund Direct Growth
-
-
-
As on October 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.
The Exit load of Groww Banking & Financial Services Fund Direct Growth is 1%