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 Anupam Tiwari. The fund could potentially beat inflation in the long-run.

1. Groww Banking & Financial Services Fund Direct Growth has ₹46 Cr worth of assets under management (AUM) as on Jan 2025 and is less than category average.
2. The fund has an expense ratio 0.4.
   

Groww Banking & Financial Services Fund Direct Growth has given a CAGR return of 1.60% since inception. Over the last 1 year the fund has given a CAGR return of 0.99%.

Groww Banking & Financial Services Fund Direct Growth has allocated its funds majorly in Financial Services, Cash Equivalent, Corporate, Tech, Health. Its top holdings are ICICI Bank Ltd, HDFC Bank Ltd, State Bank of India, Bajaj Holdings and Investment Ltd, Axis Bank Ltd

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 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 for lump sum payment is INR 500.00 and for SIP is INR 500.00. Groww Banking & Financial Services Fund Direct Growth has no lock in period.