Mirae Asset Banking and Financial Services Fund Direct Growth

Mirae Asset Banking and Financial Services Fund Direct Growth

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Equity
Direct
Sector - Financial Services
NAV: ₹ 17.88 as on 12-04-2024
Fund Performance
zero opening, trading, fund transfer fee
360 people have invested ₹ 24.8L in Mirae Asset Banking and Financial Services Fund Direct Growth in the last three months

About the Mirae Asset Banking and Financial Services Fund Direct Growth

Mirae Asset Banking and Financial Services Fund Direct Growth is an equity fund. This fund was started on 11 December, 2020. The fund is managed by . The fund could potentially beat inflation in the long-run.

Key Parameters

  1. Mirae Asset Banking and Financial Services Fund Direct Growth has ₹1594 Cr worth of assets under management (AUM) as on Mar 2024 and is more than category average.
  2. The fund has an expense ratio 0.6.

Mirae Asset Banking and Financial Services Fund Direct Growth Overview

Expense ratio
Expense ratio
0.61%
Benchmark
Benchmark
S&P BSE BANKEX INR
AUM
AUM
₹1594 Cr
Inception Date
Inception Date
11 December, 2020
Min Lumpsum/SIP
Min Lumpsum/SIP
₹5000/₹500
Exit Load
Exit Load
1%
Lock In
Lock In
No Lock-in
TurnOver
TurnOver
29.22%

Mirae Asset Banking and Financial Services Fund Direct Growth Distribution as on (31-Mar-24)

  • Equity 99.3%

  • Debt & Cash 0.7%

Size breakup

Large cap
65.1%
Mid cap
21.1%
Small cap
12.7%
Sector Allocation

Mar'24

Feb'24

Jan'24

Financial Services
99.3%
Tech
0.7%

Top Holdings of Mirae Asset Banking and Financial Services Fund Direct Growth as on (31-Mar-24)

  • Equity

Equity Holdings30

Mirae Asset Banking and Financial Services Fund Direct Growth: Monthly Changes Updates

All changes are between Jan'24 and Mar'24
Fund Performance
Mar'24
Feb'24
Jan'24
Fund Returns
-0.79%
1.03%
-0.70%
Nifty 500
-0.47%
1.58%
1.71%
  • This fund’s returns stands at -0.79% whereas the fund’s underlying benchmark Nifty 500 returns stands at -0.47% as on Mar'24
  • This fund underperformed Nifty 500 by 0.33% in Mar'24
AUM Change
Parameters
Mar'24
Feb'24
Jan'24
AUM
₹ 1.6K Cr
₹ 1.6K Cr
₹ 1.6K Cr
  • AUM of the fund stands at 1.6K Cr as of Mar'24
  • AUM decreased by 6.4 Cr between Mar'24 and Feb'24
Fund Portfolio Changes

Gainers & Losers in Mirae Asset Banking and Financial Services Fund Direct Growth portfolio Returns for the month of Mar

Mirae Asset 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 19.04% since inception which is more than its category average return of 15.92%
Fund Allocations

Fund Allocations

This fund has an allocation of 99.3% in Equity, 0% in Debt and 0.7% in Cash related instruments
AUM size ₹1594 Cr

AUM size ₹1594 Cr

This fund has AUM of ₹1594 Cr which is more than its category average of ₹ 1547 Cr
Expense Ratio 0.61%

Expense Ratio 0.61%

This fund has an expense ratio of 0.61% which is less than its category average expense ratio of 1.35%

Frequently Asked Questions

The current NAV of Mirae Asset Banking and Financial Services Fund Direct Growth is ₹17.88 as on 12-Apr-2024.
Existing (Absolute + CAGR) as on 12-Apr-2024.
Mirae Asset Banking and Financial Services Fund Direct Growth
Absolute Returns
CAGR Returns
1 Month Returns
3.26%
3.26%
6 Month Returns
10.1%
10.1%
1 Year Returns
30.37%
30.37%
3 Years Returns
73.25%
20.1%
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.
0.61% as on March 2024
₹1594 Cr as on March 2024
HDFC Bank Ltd(18.57%), ICICI Bank Ltd(18.12%), State Bank of India(9.43%), Axis Bank Ltd(6.86%), The Federal Bank Ltd(6%) as on March 2024
The alpha ratio for the Mirae Asset Banking and Financial Services Fund Direct Growth for various period is as follows:
Fund Name
Alpha 1 Year
Alpha 3 Years
Alpha 5 Years
Mirae Asset Banking and Financial Services Fund Direct Growth
12.31
4.99
-
As on March 2024
The alpha for Mirae Asset 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 Mirae Asset Banking and Financial Services Fund Direct Growth for various period is as follows:
Fund Name
Beta 1 Year
Beta 3 Years
Beta 5 Years
Mirae Asset Banking and Financial Services Fund Direct Growth
0.7
0.9
-
As on March 2024
The Beta for Mirae Asset 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 Mirae Asset 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
Mirae Asset Banking and Financial Services Fund Direct Growth
1.78
0.73
-
As on March 2024
The sharpe ratio for Mirae Asset 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 Mirae Asset 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
Mirae Asset Banking and Financial Services Fund Direct Growth
10.89
14.8
-
As on March 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 1.34 as on March 2024. Sortino ratio tells the downside risk-adjusted-returns of the mutual fund.
Information ratio is 1.02 as on March 2024. It tells the consistency of the fund in generating superior risk-adjusted performance
The Exit load of Mirae Asset Banking and Financial Services Fund Direct Growth is 1%