ITI Banking and Financial Services Fund Direct Growth

ITI Banking and Financial Services Fund Direct Growth

Equity

Direct

Sector - Financial Services

NAV as on 08-11-2024

₹ 14.46

-0.6%

1D

Inception Returns

12.3%

/yr

About ITI Banking and Financial Services Fund Direct Growth

ITI Banking and Financial Services Fund Direct Growth is an equity fund. This fund was started on 8 December, 2021. The fund is managed by . The fund could potentially beat inflation in the long-run.

Key Parameters

  1. ITI Banking and Financial Services Fund Direct Growth has ₹271 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

ITI Banking and Financial Services Fund Direct Growth has given a CAGR return of 12.28% since inception. Over the last 1 year the fund has given a CAGR return of 20.15%.

Holdings

ITI Banking and Financial Services Fund Direct Growth has allocated its funds majorly in Cash Equivalent, Financial Services, Tech. Its top holdings are HDFC Bank Ltd, ICICI Bank Ltd, Axis Bank Ltd, State Bank of India, Kotak Mahindra Bank 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 ITI Banking and Financial Services Fund Direct Growth

The investment objective of the scheme is 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. However, there can be no assurance that the investment objective of the scheme would be achieved.

Minimum Investment and lockin period

Minimum investment for lump sum payment is INR 5000.00 and for SIP is INR 500.00. ITI Banking and Financial Services Fund Direct Growth has no lock in period.

Historical NAV & Returns

Annualised

zero opening, trading, fund transfer fee
29 people have invested ₹ 28.5K in ITI Banking and Financial Services Fund Direct Growth in the last three months

ITI Banking and Financial Services Fund Direct Growth Overview

Expense ratio0.44%
Benchmark
S&P BSE BANKEX INR
AUM₹271 Cr
Inception Date8 December, 2021
Min Lumpsum/SIP₹5000/₹500
Exit Load
1.0%
Lock InNo Lock-in
TurnOver
179.32%
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 (08-Nov-24)

Period
ITI Banking and Financial Services Fund Direct Growth
Nifty 500
sector - financial services
1M
0.4%
-4%
0.7%
3M
3.2%
-1.2%
3%
6M
7.4%
10.6%
7.5%
1Y
20.2%
31.2%
20.2%

Fund Distribution

as on (30-Sep-24)

  • Equity 98.1%

  • Debt & Cash 1.9%

Large cap
72.3%

Mid cap
15.3%

Small cap
10.6%

Sector Allocation

Sep'24

Aug'24

Jul'24

Financial Services
98.9%
Tech
1.1%
All changes are between Jul'24 and Sep'24
Sep'24
Aug'24
Jul'24
Fund Returns
2.99%
1.15%
0.14%
Nifty 500
2.04%
0.97%
3.53%
  • This fund’s returns stands at 2.99% whereas the fund’s underlying benchmark Nifty 500 returns stands at 2.04% as on Sep'24
  • This fund outperformed Nifty 500 by 0.95% in Sep'24
Parameters
Sep'24
Aug'24
Jul'24
AUM
₹ 271.4 Cr
₹ 265.7 Cr
₹ 269.3 Cr
  • AUM of the fund stands at 271.4 Cr as of Sep'24
  • AUM increased by 5.7 Cr between Sep'24 and Aug'24
Top Stocks bought last month
Bajaj Finance Ltd's allocation increased from 1.08% to 4.87%
Bajaj Finance Ltd's allocation increased from 1.08% to 4.87%
Kotak Mahindra Bank Ltd's allocation increased from 3.81% to 4.91%
Kotak Mahindra Bank Ltd's allocation increased from 3.81% to 4.91%
Mahindra & Mahindra Financial Services Ltd's allocation increased from 1.21% to 2.07%
Mahindra & Mahindra Financial Services Ltd's allocation increased from 1.21% to 2.07%
Top Stocks sold last month
HDFC Bank Ltd's allocation decreased from 23.78 % to 21.48 %
HDFC Bank Ltd's allocation decreased from 23.78 % to 21.48 %
State Bank of India's allocation decreased from 7.19 % to 6.6 %
State Bank of India's allocation decreased from 7.19 % to 6.6 %
Shriram Finance Ltd's allocation decreased from 2.51 % to 2.12 %
Shriram Finance Ltd's allocation decreased from 2.51 % to 2.12 %
Small Cap allocation has gone down from 15.3% to 10.6%
Small Cap allocation has gone down from 15.3% to 10.6%
Mid Cap allocation has gone up from 10.9% to 15.3%
Mid Cap allocation has gone up from 10.9% to 15.3%
Large Cap allocation has gone up from 70.4% to 72.3%
Large Cap allocation has gone up from 70.4% to 72.3%
Cash allocation has gone down from 2.3% to 1.9%
Cash allocation has gone down from 2.3% to 1.9%

Top 2 Sectors in September were Financial Services, Tech

Sep'24
Financial Services
99%
Tech
1%
Aug'24
Financial Services
99%
Tech
1%
Fund
Sep'24
Aug'24
Jul'24
No of Holdings
34
32
33
Top 5 Company Concentration
55.2%
56%
53.2%
Company having highest exposure
HDFC Bank Ltd (21.5%)
HDFC Bank Ltd (23.8%)
HDFC Bank Ltd (17.8%)
No of Sectors
2
2
1
Top 5 Sectors Concentration
100%
100%
100%
Sector having highest exposure
Financial Services (98.9%)
Financial Services (98.7%)
Financial Services (100%)
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Fund House
ITI Asset Management Limited
Total Schemes
Total AUM
₹8.88K Cr
as on 30-Sep-2024
Address
Naman Midtown “A” Wing, 21st Floor, Senapati Bapat Marg, Elphinstone Road
Phone
022-66214999
Website
mfassist@itiorg.com

ITI Banking and 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 an average annual returns of 12.28% since inception which is less than its category average return of 15.62%
Fund Allocations

Fund Allocations

This fund has an allocation of 98.13% in Equity, 0% in Debt and 1.87% in Cash related instruments
AUM size ₹271 Cr

AUM size ₹271 Cr

This fund has AUM of ₹271 Cr which is less than its category average of ₹ 1756 Cr
Expense Ratio 0.44%

Expense Ratio 0.44%

This fund has an expense ratio of 0.44% which is less than its category average expense ratio of 1.37%

Frequently Asked Questions for ITI Banking and Financial Services Fund Direct Growth

The current NAV of ITI Banking and Financial Services Fund Direct Growth is ₹14.46 as on 08-Nov-2024.
Existing (Absolute + CAGR) as on 08-Nov-2024.
ITI Banking and Financial Services Fund Direct Growth
Absolute Returns
CAGR Returns
1 Month Returns
0.4%
0.4%
6 Month Returns
7.43%
7.43%
1 Year Returns
20.15%
20.15%
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.
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  • Select Lump Sum or SIP (Weekly, Monthly or Quarterly).
  • Select your bank account and proceed with Payment.
0.44% as on October 2024
₹271 Cr as on October 2024
HDFC Bank Ltd(21.48%), ICICI Bank Ltd(13.94%), Axis Bank Ltd(8.23%), State Bank of India(6.6%), Kotak Mahindra Bank Ltd(4.91%) as on October 2024
The alpha ratio for the ITI Banking and Financial Services Fund Direct Growth for various period is as follows:
Fund Name
Alpha 1 Year
Alpha 3 Years
Alpha 5 Years
ITI Banking and Financial Services Fund Direct Growth
1.14
-
-
As on October 2024
The alpha for ITI Banking and 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 ITI Banking and Financial Services Fund Direct Growth for various period is as follows:
Fund Name
Beta 1 Year
Beta 3 Years
Beta 5 Years
ITI Banking and Financial Services Fund Direct Growth
0.77
-
-
As on October 2024
The Beta for ITI Banking and 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 ITI Banking and 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
ITI Banking and Financial Services Fund Direct Growth
1.23
-
-
As on October 2024
The sharpe ratio for ITI Banking and 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 ITI Banking and 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
ITI Banking and Financial Services Fund Direct Growth
11.46
-
-
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 ITI Banking and Financial Services Fund Direct Growth is 1%