ITI Banking and Financial Services Fund Direct Growth
Equity
Direct
Sector - Financial Services
NAV as on 19-11-2024
₹ 14.16
▲0.6%
1D
Inception Returns
11.3%
/yr
About ITI Banking and Financial Services Fund Direct Growth
ITI Banking and Financial Services Fund Direct Growth is an equity fund. This fund was started on 8 December, 2021. The fund is managed by . The fund could potentially beat inflation in the long-run.
Key Parameters
- ITI Banking and Financial Services Fund Direct Growth has ₹268 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
ITI Banking and Financial Services Fund Direct Growth has given a CAGR return of 11.35% since inception. Over the last 1 year the fund has given a CAGR return of 16.75%.
Holdings
ITI Banking and Financial Services Fund Direct Growth has allocated its funds majorly in Cash Equivalent, Financial Services, Tech. Its top holdings are HDFC Bank Ltd, ICICI Bank Ltd, Axis Bank Ltd, Kotak Mahindra Bank Ltd, State Bank of India
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 ITI Banking and Financial Services Fund Direct Growth
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. However, there can be no assurance that the investment objective of the scheme would be achieved.
Minimum Investment and lockin period
Minimum investment for lump sum payment is INR 5000.00 and for SIP is INR 500.00. ITI Banking and Financial Services Fund Direct Growth has no lock in period.
Historical NAV & Returns
ITI Banking and Financial Services Fund Direct Growth Overview
| Expense ratio | 0.44% |
Benchmark | S&P BSE BANKEX INR |
| AUM | ₹268 Cr |
| Inception Date | 8 December, 2021 |
| Min Lumpsum/SIP | ₹5000/₹500 |
Exit Load | 1.0% |
| Lock In | No Lock-in |
TurnOver | 179.32% |
| 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 -3.78% whereas the fund’s underlying benchmark Nifty 500 returns stands at -6.52% as on Oct'24
- This fund outperformed Nifty 500 by 2.74% in Oct'24
- AUM of the fund stands at 268.3 Cr as of Oct'24
- AUM decreased by 3.1 Cr between Oct'24 and Sep'24
Top 2 Sectors in October were Financial Services, Tech
Top Losers | 1M Return |
|---|---|
 Axis Bank Ltd | -4.7% |
 Kotak Mahindra Bank Ltd | -3.4% |
 Bajaj Finance Ltd | -2.7% |
ITI Banking and Financial Services Fund Direct Growth Highlights
Very High Risk
About the fund
Fund Allocations
AUM size ₹268 Cr
Expense Ratio 0.44%
Frequently Asked Questions for ITI Banking and Financial Services Fund Direct Growth
ITI Banking and Financial Services Fund Direct Growth | Absolute Returns | CAGR Returns |
1 Month Returns | -3.1% | -3.1% |
6 Month Returns | 5.06% | 5.06% |
1 Year Returns | 16.75% | 16.75% |
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 |
ITI Banking and Financial Services Fund Direct Growth | 1.14 | - | - |
Fund Name | Beta 1 Year | Beta 3 Years | Beta 5 Years |
ITI Banking and Financial Services Fund Direct Growth | 0.77 | - | - |
Fund Name | Sharpe Ratio 1 Year | Sharpe Ratio 3 Years | Sharpe Ratio 5 Years |
ITI Banking and Financial Services Fund Direct Growth | 1.23 | - | - |
Fund Name | Standard Deviation 1 Year | Standard Deviation 3 Years | Standard Deviation 5 Years |
ITI Banking and Financial Services Fund Direct Growth | 11.46 | - | - |