LIC MF Banking & Financial Services Fund Direct Growth

LIC MF Banking & Financial Services Fund Direct Growth is an equity fund. This fund was started on 27 March, 2015. The fund is managed by Jaiprakash Toshniwal. The fund could potentially beat inflation in the long-run.

1. LIC MF Banking & Financial Services Fund Direct Growth has ₹275 Cr worth of assets under management (AUM) as on Aug 2025 and is more than category average.
2. The fund has an expense ratio 1.2.
   

LIC MF Banking & Financial Services Fund Direct Growth has given a CAGR return of 8.56% since inception. Over the last 1, 3 and 5 years the fund has given a CAGR return of 7.11%, 13.85% and 19.09% respectively.

LIC MF Banking & Financial Services Fund Direct Growth has allocated its funds majorly in Cash Equivalent, Financial Services, Tech, Consumer Cyclical. Its top holdings are HDFC Bank Ltd, ICICI Bank Ltd, Axis Bank Ltd, Kotak Mahindra Bank Ltd, MAS Financial Services Ltd Ordinary Shares

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 20%
For long term (more than 1 year) capital gains will be taxed at 12.5% without indexation benefit
Dividends will always be taxed at slab rate. Long term gains upto Rs 1 lakh are exempt capital gains tax.

The investment objective of the scheme is to generate long-term capital appreciation for unit holders from a portfolio that is invested substantially in equity and equity related securities of companies engaged in banking & financial services sector. However, there can be no assurance that the investment objective of the Scheme will be achieved.

Minimum investment for lump sum payment is INR 5000.00 and for SIP is INR 200.00. LIC MF Banking & Financial Services Fund Direct Growth has no lock in period.