Mirae Asset Banking and Financial Services Fund Direct Growth

Mirae Asset Banking and Financial Services Fund Direct Growth

Equity

Direct

Sector - Financial Services

NAV as on 12-12-2024

₹ 20.52

-0.6%

1D

Inception Returns

19.7%

/yr

About 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 ₹1845 Cr worth of assets under management (AUM) as on Oct 2024 and is more than category average.
  2. The fund has an expense ratio 0.6.

Returns

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.

Holdings

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

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 Mirae Asset 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 sector. The Scheme does not guarantee or assure any returns.

Minimum Investment and lockin period

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.

Historical NAV & Returns

Annualised

zero opening, trading, fund transfer fee
465 people have invested ₹ 33.5L in Mirae Asset Banking and Financial Services Fund Direct Growth in the last three months

INDmoney Rank for Mirae Asset Banking and Financial Services Fund Direct Growth

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Mirae Asset Banking and Financial Services Fund Direct Growth Overview

Expense ratio0.61%
Benchmark
S&P BSE BANKEX INR
AUM₹1845 Cr
Inception Date11 December, 2020
Min Lumpsum/SIP₹5000/₹99
Exit Load
1.0%
Lock InNo Lock-in
TurnOver
21.1%
STCGSelling mutual fund 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 (12-Dec-24)

Period
Mirae Asset Banking and Financial Services Fund Direct Growth
Nifty 500
sector - financial services
1M
4.2%
4.1%
4.2%
3M
2.5%
-2.7%
2.3%
6M
8.6%
5.9%
6.4%
1Y
19.5%
24.5%
14.2%
3Y
16.9%
15.3%
16.1%

Fund Distribution

as on (31-Oct-24)

  • Equity 99.4%

  • Debt & Cash 0.6%

Large cap
64.7%

Small cap
18.3%

Mid cap
15.9%

Sector Allocation

Oct'24

Sep'24

Aug'24

Financial Services
99%
Tech
1%
All changes are between Aug'24 and Oct'24
Oct'24
Sep'24
Aug'24
Fund Returns
-2.59%
3.68%
-0.37%
Nifty 500
-6.52%
2.04%
0.97%
  • This fund’s returns stands at -2.59% whereas the fund’s underlying benchmark Nifty 500 returns stands at -6.52% as on Oct'24
  • This fund outperformed Nifty 500 by 3.93% in Oct'24
Parameters
Oct'24
Sep'24
Aug'24
AUM
₹ 1.8K Cr
₹ 1.9K Cr
₹ 1.8K Cr
  • AUM of the fund stands at 1.8K Cr as of Oct'24
  • AUM decreased by 37.4 Cr between Oct'24 and Sep'24
Top Stocks bought last month
Bajaj Finance Ltd's allocation increased from 2.95% to 3.94%
Bajaj Finance Ltd's allocation increased from 2.95% to 3.94%
State Bank of India's allocation increased from 7.4% to 8.31%
State Bank of India's allocation increased from 7.4% to 8.31%
CARE Ratings Ltd's allocation increased from 1.26% to 1.85%
CARE Ratings Ltd's allocation increased from 1.26% to 1.85%
Top Stocks sold last month
Axis Bank Ltd's allocation decreased from 7.12 % to 6.83 %
Axis Bank Ltd's allocation decreased from 7.12 % to 6.83 %
India Shelter Finance Corporation Ltd's allocation decreased from 4.23 % to 3.9 %
India Shelter Finance Corporation Ltd's allocation decreased from 4.23 % to 3.9 %
Shriram Finance Ltd's allocation decreased from 2.81 % to 2.52 %
Shriram Finance Ltd's allocation decreased from 2.81 % to 2.52 %
Large Cap allocation has gone up from 61.9% to 63.5%
Large Cap allocation has gone up from 61.9% to 63.5%
Small Cap allocation has gone down from 19.7% to 19.3%
Small Cap allocation has gone down from 19.7% to 19.3%
Mid Cap allocation has gone down from 16.3% to 16.1%
Mid Cap allocation has gone down from 16.3% to 16.1%
Cash allocation has gone down from 0.9% to 0.5%
Cash allocation has gone down from 0.9% to 0.5%

Top 2 Sectors in October were Financial Services, Tech

Oct'24
Financial Services
99%
Tech
Sep'24
Financial Services
99%
Tech
  • Gainers

  • Losers

Fund
Oct'24
Sep'24
Aug'24
No of Holdings
32
32
31
Top 5 Company Concentration
54.8%
53.3%
53.4%
Company having highest exposure
HDFC Bank Ltd (16.9%)
ICICI Bank Ltd (16.6%)
ICICI Bank Ltd (16.6%)
No of Sectors
2
2
2
Top 5 Sectors Concentration
100%
100%
100%
Sector having highest exposure
Financial Services (99%)
Financial Services (99%)
Financial Services (99%)
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Fund House
Mirae Asset Investment Managers (India) Private Limited
Total Schemes
Total AUM
₹1.89L Cr
as on 31-Oct-2024
Address
Mirae Asset Investment Managers (India) Private Limited.,Unit No. 606, 6th Floor,,Windsor Bldg, Off CST Road,,Kalina, Santacruz (East), Mumbai - 400 098
Phone
91-22-22-6780300
Website
customercare@miraeasset.com

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 19.67% since inception which is more than its category average return of 16.55%
Fund Allocations

Fund Allocations

This fund has an allocation of 99.43% in Equity, 0% in Debt and 0.57% in Cash related instruments
AUM size ₹1845 Cr

AUM size ₹1845 Cr

This fund has AUM of ₹1845 Cr which is more than its category average of ₹ 1749 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 1.38%

Frequently Asked Questions for Mirae Asset Banking and Financial Services Fund Direct Growth

The current NAV of Mirae Asset Banking and Financial Services Fund Direct Growth is ₹20.52 as on 12-Dec-2024.
Existing (Absolute + CAGR) as on 12-Dec-2024.
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%
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 November 2024
₹1845 Cr as on November 2024
HDFC Bank Ltd(16.93%), ICICI Bank Ltd(16.87%), State Bank of India(8.31%), Axis Bank Ltd(6.83%), The Federal Bank Ltd(5.88%) as on November 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
3.15
4.92
-
As on November 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
0.87
0.95
-
As on November 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
1.12
0.76
-
As on November 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
12.94
14.52
-
As on November 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 1.52 as on November 2024. Sortino ratio tells the downside risk-adjusted-returns of the mutual fund.
Information ratio is 1.04 as on November 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%