Mirae Asset Banking and PSU Fund Direct Growth

Mirae Asset Banking and PSU Fund Direct Growth

Debt

Direct

Banking & Psu

NAV as on 29-11-2024

₹ 12.58

0.1%

1D

Inception Returns

5.4%

/yr

About Mirae Asset Banking and PSU Fund Direct Growth

Mirae Asset Banking and PSU Fund Direct Growth is a debt fund. This fund was started on 24 July, 2020. The fund is managed by . This fund is suitable to keep your money safe.

Key Parameters

  1. Mirae Asset Banking and PSU Fund Direct Growth has ₹55 Cr worth of assets under management (AUM) as on Dec 1969 and is less than category average.
  2. The fund has an expense ratio 0.4.

Returns

Mirae Asset Banking and PSU Fund Direct Growth has given a CAGR return of 5.42% since inception. Over the last 1 and 3 years the fund has given a CAGR return of 8.45% and 5.94% respectively.

Holdings

Mirae Asset Banking and PSU Fund Direct Growth has allocated its funds majorly in Government, Corporate, Cash Equivalent. Its top holdings are 7.1% Govt Stock 2034, Housing And Urban Development Corporation Ltd., Small Industries Development Bank Of India, National Bank For Financing Infrastructure And Development, Power Finance Corporation Ltd.

Taxation

As it is a banking & psu mutual fund the taxation is as follows:
If the fund is debt oriented i.e. asset allocation of more than 65% in debt instruments:
For short term (less than 3 years) capital gains will be taxed at your income slab rate.
For long term (more than 3 years) capital gains will be taxed at 20% with indexation benefit.
Dividends will always be taxed at slab rate.

Investment objective of Mirae Asset Banking and PSU Fund Direct Growth

The investment objective of the scheme is to generate income / capital appreciation through predominantly investing in debt and money market instruments issued by Banks, Public Sector Undertakings (PSUs) and Public Financial Institutions (PFIs) and Municipal Bonds.

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 PSU Fund Direct Growth has no lock in period.

Historical NAV & Returns

Annualised

zero opening, trading, fund transfer fee
54 people have invested ₹ 4.3L in Mirae Asset Banking and PSU Fund Direct Growth in the last three months

Mirae Asset Banking and PSU Fund Direct Growth Overview

Expense ratio0.37%
Benchmark
CRISIL Short Term Bond Fund TR INR
AUM₹55 Cr
Inception Date24 July, 2020
Min Lumpsum/SIP₹5000/₹99
Exit Load0%
Lock InNo Lock-in
TurnOver
348.29%
STCGSelling within 36 months, gains taxed at slab rates.
LTCGHolding over 3 years, gains taxed at slab rates without indexation.
Risk
Risk meter
pointer
Moderate Risk

Trailing Returns

as on (29-Nov-24)

Period
Mirae Asset Banking and PSU Fund Direct Growth
Banking and PSU Index
1M
0.6%
0.4%
3M
1.9%
1.5%
6M
4.1%
3.4%
1Y
8.4%
7.3%
3Y
5.9%
5.6%

Fund Distribution

as on (31-Dec-69)

  • Debt & Cash 99.5%

AAA
94.6%

AA
5.4%

Sector Allocation

Oct'24

Sep'24

Aug'24

Government
59%
Corporate
35.8%
Cash Equivalent
5.2%
All changes are between Oct'69 and Dec'69
Parameters
Oct'24
Sep'24
Aug'24
AUM
₹ 55.8 Cr
₹ 55.8 Cr
₹ 58 Cr
  • AUM of the fund stands at 55.8 Cr as of Oct'24
  • AUM has remained same between Oct'24 and Sep'24
Cash allocation has gone down from 7.5% to 5.2%
Cash allocation has gone down from 7.5% to 5.2%
Debt allocation has gone up from 92% to 94.4%
Debt allocation has gone up from 92% to 94.4%

Top 2 Sectors in October were Government, Corporate

Oct'24
Government
59%
Corporate
36%
Sep'24
Government
50%
Corporate
47%
  • Debt & Cash

Holdings
Weight%
1M Change
7.1% Govt Stock 2034
7.1% Govt Stock 2034
14.44%
59.3%
Housing And Urban Development Corporation Ltd.
Housing And Urban Development Corporation Ltd.
9.17%
0%
Small Industries Development Bank Of India
Small Industries Development Bank Of India
6.45%
100%
National Bank For Financing Infrastructure And Development
National Bank For Financing Infrastructure And Development
5.58%
0%
Power Finance Corporation Ltd.
Power Finance Corporation Ltd.
5.47%
0%
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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 PSU Fund Direct Growth Highlights

Risk meter
pointer

Moderate Risk

Investors understand that their principal will be at Moderate Risk
About the fund

About the fund

This fund has delivered an average annual returns of 5.42% since inception which is less than its category average return of 5.79%
AUM size ₹55 Cr

AUM size ₹55 Cr

This fund has AUM of ₹55 Cr which is less than its category average of ₹ 3593 Cr
Expense Ratio 0.37%

Expense Ratio 0.37%

This fund has an expense ratio of 0.37% which is less than its category average expense ratio of 0.49%

Frequently Asked Questions for Mirae Asset Banking and PSU Fund Direct Growth

The current NAV of Mirae Asset Banking and PSU Fund Direct Growth is ₹12.58 as on 29-Nov-2024.
Existing (Absolute + CAGR) as on 29-Nov-2024.
Mirae Asset Banking and PSU Fund Direct Growth
Absolute Returns
CAGR Returns
1 Month Returns
0.64%
0.64%
6 Month Returns
4.1%
4.1%
1 Year Returns
8.45%
8.45%
3 Years Returns
18.89%
5.94%
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.
0.37% as on October 2024
₹55 Cr as on October 2024
7.1% Govt Stock 2034(14.44%), Housing And Urban Development Corporation Ltd.(9.17%), Small Industries Development Bank Of India(6.45%), National Bank For Financing Infrastructure And Development(5.58%), Power Finance Corporation Ltd.(5.47%) as on October 2024
Government(55.46%), Corporate(39.93%), Cash Equivalent(4.61%) as on October 2024
Yield to Maturity is 7.26 as on October 2024. Yield to Maturity is the total return earned on your bond investments if you hold the bond investments till maturity & all bonds' proceeds are reinvested in it.
Modified Duration is 4.04 as on October 2024. Modified Duration tells the sensitivity of the price of a bond to a change in interest rate.
AAA
94.61
AA
5.39
The Exit load of Mirae Asset Banking and PSU Fund Direct Growth is 0%