Mirae Asset Banking and Financial Services Fund Direct Reinvestment of Income Dis cum Cptl Wdrl

Equity
Direct
Sector - Financial Services
Mirae Asset Banking and Financial Services Fund Direct Reinvestment of Income Dis cum Cptl Wdrl

About the Fund

Mirae Asset Banking and Financial Services Fund Direct Reinvestment of Income Dis cum Cptl Wdrl 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 Reinvestment of Income Dis cum Cptl Wdrl has ₹1671 Cr worth of assets under management (AUM) as on May 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 Reinvestment of Income Dis cum Cptl Wdrl has given a CAGR return of 20.13% since inception. Over the last 1 and 3 years the fund has given a CAGR return of 28.16% and 17.59% respectively.

Holdings

Mirae Asset Banking and Financial Services Fund Direct Reinvestment of Income Dis cum Cptl Wdrl 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 Reinvestment of Income Dis cum Cptl Wdrl

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 500.00. Mirae Asset Banking and Financial Services Fund Direct Reinvestment of Income Dis cum Cptl Wdrl has no lock in period.

Fund Performance
zero opening, trading, fund transfer fee
1 people have invested ₹ 1000 in Mirae Asset Banking and Financial Services Fund Direct Reinvestment of Income Dis cum Cptl Wdrl in the last three months

Fund Overview

Expense ratio0.61%
Benchmark
S&P BSE BANKEX INR
AUM₹1671 Cr
Inception Date11 December, 2020
Min Lumpsum/SIP₹5000/₹500
Exit Load
1%
Lock InNo Lock-in
TurnOver
29.22%
Risk
Risk meter
pointer
Very High Risk

Fund Distribution
as on (31-May-24)

  • Equity 99.4%

  • Debt & Cash 0.6%

Large cap
67.9%

Small cap
16.6%

Mid cap
15%

Sector Allocation

May'24

Apr'24

Mar'24

Financial Services
99.2%
Tech
0.8%
All changes are between Mar'24 and May'24

Returns for the month of May

  • Gainers

  • Losers

Mirae Asset Banking and Financial Services Fund Direct Reinvestment of Income Dis cum Cptl Wdrl 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 20.13% since inception which is more than its category average return of 17.39%
Fund Allocations

Fund Allocations

This fund has an allocation of 99.44% in Equity, 0% in Debt and 0.56% in Cash related instruments
AUM size ₹1671 Cr

AUM size ₹1671 Cr

This fund has AUM of ₹1671 Cr which is more than its category average of ₹ 1523 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 1.33%

Frequently Asked Questions

The current NAV of Mirae Asset Banking and Financial Services Fund Direct Reinvestment of Income Dis cum Cptl Wdrl is ₹19.18 as on 14-Jun-2024.
Existing (Absolute + CAGR) as on 14-Jun-2024.
Mirae Asset Banking and Financial Services Fund Direct Reinvestment of Income Dis cum Cptl Wdrl
Absolute Returns
CAGR Returns
1 Month Returns
6.88%
6.88%
6 Month Returns
9.71%
9.71%
1 Year Returns
28.16%
28.16%
3 Years Returns
62.6%
17.59%
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 May 2024
₹1671 Cr as on May 2024
HDFC Bank Ltd(17.81%), ICICI Bank Ltd(16.49%), State Bank of India(9.28%), Axis Bank Ltd(7.7%), The Federal Bank Ltd(6.18%) as on May 2024
The alpha ratio for the Mirae Asset Banking and Financial Services Fund Direct Reinvestment of Income Dis cum Cptl Wdrl 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 Reinvestment of Income Dis cum Cptl Wdrl
10.03
4.88
-
As on May 2024
The alpha for Mirae Asset Banking and Financial Services Fund Direct Reinvestment of Income Dis cum Cptl Wdrl 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 Reinvestment of Income Dis cum Cptl Wdrl 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 Reinvestment of Income Dis cum Cptl Wdrl
0.76
0.91
-
As on May 2024
The Beta for Mirae Asset Banking and Financial Services Fund Direct Reinvestment of Income Dis cum Cptl Wdrl 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 Reinvestment of Income Dis cum Cptl Wdrl 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 Reinvestment of Income Dis cum Cptl Wdrl
1.24
0.67
-
As on May 2024
The sharpe ratio for Mirae Asset Banking and Financial Services Fund Direct Reinvestment of Income Dis cum Cptl Wdrl 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 Reinvestment of Income Dis cum Cptl Wdrl 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 Reinvestment of Income Dis cum Cptl Wdrl
11.74
14.71
-
As on May 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 1.21 as on May 2024. Sortino ratio tells the downside risk-adjusted-returns of the mutual fund.
Information ratio is 0.95 as on May 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 Reinvestment of Income Dis cum Cptl Wdrl is 1%