Equity
Direct
Sector - Financial Services
NAV as on 12-12-2024
₹ 20.52
1D
Inception Returns
19.7%
/yr
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.
Mirae Asset Banking and Financial Services Fund Direct Growth has given a CAGR return of 19.67% since inception. Over the last 1 and 3 years the fund has given a CAGR return of 19.50% and 16.89% respectively.
Mirae Asset 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, State Bank of India, Axis Bank Ltd, The Federal Bank Ltd
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 benefitDividends will always be taxed at slab rate. Gains upto Rs 1 lakh are exempt in case of long term.
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 sector. The Scheme does not guarantee or assure any returns.
Minimum investment for lump sum payment is INR 5000.00 and for SIP is INR 99.00. Mirae Asset Banking and Financial Services Fund Direct Growth has no lock in period.
Expense ratio | 0.61% |
Benchmark | S&P BSE BANKEX INR |
AUM | ₹1845 Cr |
Inception Date | 11 December, 2020 |
Min Lumpsum/SIP | ₹5000/₹99 |
Exit Load | 1.0% |
Lock In | No Lock-in |
TurnOver | 21.1% |
STCG | Selling mutual fund before 1 year, returns taxed at 20%. |
LTCG | After 1 year, 12.5% tax on returns over ₹1.25 lakh/year. |
Risk | Very High Risk |
as on (12-Dec-24)
as on (31-Oct-24)
Top 2 Sectors in October were Financial Services, Tech
Mirae Asset Banking and Financial Services Fund Direct Growth | Absolute Returns | CAGR Returns |
1 Month Returns | 4.22% | 4.22% |
6 Month Returns | 8.58% | 8.58% |
1 Year Returns | 19.5% | 19.5% |
3 Years Returns | 59.71% | 16.89% |
5 Years Returns | 0% | 0% |
Fund Name | Alpha 1 Year | Alpha 3 Years | Alpha 5 Years |
Mirae Asset Banking and Financial Services Fund Direct Growth | 3.15 | 4.92 | - |
Fund Name | Beta 1 Year | Beta 3 Years | Beta 5 Years |
Mirae Asset Banking and Financial Services Fund Direct Growth | 0.87 | 0.95 | - |
Fund Name | Sharpe Ratio 1 Year | Sharpe Ratio 3 Years | Sharpe Ratio 5 Years |
Mirae Asset Banking and Financial Services Fund Direct Growth | 1.12 | 0.76 | - |
Fund Name | Standard Deviation 1 Year | Standard Deviation 3 Years | Standard Deviation 5 Years |
Mirae Asset Banking and Financial Services Fund Direct Growth | 12.94 | 14.52 | - |