Groww Banking & Financial Services Fund Direct Growth
Equity
Direct
Sector - Financial Services
NAV as on 19-11-2024
₹ 10.9
▲0.3%
1D
Inception Returns
9.5%
/yr
About Groww Banking & Financial Services Fund Direct Growth
Groww Banking & Financial Services Fund Direct Growth is an equity fund. This fund was started on 7 February, 2024. The fund is managed by . The fund could potentially beat inflation in the long-run.
Key Parameters
- Groww Banking & Financial Services Fund Direct Growth has ₹46 Cr worth of assets under management (AUM) as on Oct 2024 and is less than category average.
- The fund has an expense ratio 0.4.
Returns
Groww Banking & Financial Services Fund Direct Growth has given a CAGR return of 9.47% since inception.
Holdings
Groww Banking & Financial Services Fund Direct Growth has allocated its funds majorly in Cash Equivalent, Financial Services, Tech, Health. Its top holdings are ICICI Bank Ltd, HDFC Bank Ltd, Axis Bank Ltd, State Bank of India, Bajaj Finance 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 benefitDividends will always be taxed at slab rate. Gains upto Rs 1 lakh are exempt in case of long term.
Investment objective of Groww Banking & Financial Services Fund Direct Growth
The primary investment objective of the scheme is to generate consistent long-term returns by investing in equity and equity-related instruments of banking and financial services companies and other related sectors/companies. The fund aims to capitalize on the growth opportunities and growth potential of various sub-sectors within the BFSI sector, including (but not limited to) banks, NBFCs, insurance companies, asset management companies, capital market participants, fintech players etc. (This includes companies benefiting from or contributing to the growth of the banking and financial services sector).
Minimum Investment and lockin period
Minimum investment for lump sum payment is INR 500.00 and for SIP is INR 100.00. Groww Banking & Financial Services Fund Direct Growth has no lock in period.
Historical NAV & Returns
Groww Banking & Financial Services Fund Direct Growth Overview
| Expense ratio | 0.36% |
Benchmark | S&P BSE BANKEX INR |
| AUM | ₹46 Cr |
| Inception Date | 7 February, 2024 |
| Min Lumpsum/SIP | ₹500/₹100 |
Exit Load | 1.0% |
| Lock In | No Lock-in |
TurnOver | 609.58% |
| STCG | Redeeming 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 |
Trailing Returns
as on (19-Nov-24)
Fund Distribution
as on (31-Oct-24)
- This fund’s returns stands at -1.47% whereas the fund’s underlying benchmark Nifty 500 returns stands at -6.52% as on Oct'24
- This fund outperformed Nifty 500 by 5.04% in Oct'24
- AUM of the fund stands at 44.7 Cr as of Oct'24
- AUM has remained same between Oct'24 and Sep'24
Top 3 Sectors in October were Financial Services, Tech & Health
Holdings | Weight% | 1M Change | |
|---|---|---|---|
 ICICI Bank Ltd | 19.46% | 0% | |
 HDFC Bank Ltd | 16.87% | 0% | |
 Axis Bank Ltd | 7.15% | 0% | |
 State Bank of India | 6.49% | 0% | |
 Bajaj Finance Ltd | 3.96% | 0% |
Top Growth Drivers | 1M Return |
|---|---|
 Prudent Corporate Advisory Services Ltd | 11.6% |
Groww Banking & Financial Services Fund Direct Growth Highlights
Very High Risk
About the fund
Fund Allocations
AUM size ₹46 Cr
Expense Ratio 0.36%
Frequently Asked Questions for Groww Banking & Financial Services Fund Direct Growth
Groww Banking & Financial Services Fund Direct Growth | Absolute Returns | CAGR Returns |
1 Month Returns | -3.8% | -3.8% |
6 Month Returns | 5.51% | 5.51% |
1 Year Returns | 0% | 0% |
3 Years Returns | 0% | 0% |
5 Years Returns | 0% | 0% |
- 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.
Fund Name | Alpha 1 Year | Alpha 3 Years | Alpha 5 Years |
Groww Banking & Financial Services Fund Direct Growth | - | - | - |
Fund Name | Beta 1 Year | Beta 3 Years | Beta 5 Years |
Groww Banking & Financial Services Fund Direct Growth | - | - | - |
Fund Name | Sharpe Ratio 1 Year | Sharpe Ratio 3 Years | Sharpe Ratio 5 Years |
Groww Banking & Financial Services Fund Direct Growth | - | - | - |
Fund Name | Standard Deviation 1 Year | Standard Deviation 3 Years | Standard Deviation 5 Years |
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