Mirae Asset Banking and Financial Services Fund Direct Growth
Equity
Direct
Sector - Financial Services
NAV as on 21-02-2025
₹ 18.63
▲0.1%
1D
Inception Returns
16.1%
/yr
About Mirae Asset Banking and Financial Services Fund Direct Growth
Mirae Asset Banking and Financial Services Fund Direct Growth is an equity fund. This fund was started on 11 December, 2020. The fund is managed by . The fund could potentially beat inflation in the long-run.
Key Parameters
- Mirae Asset Banking and Financial Services Fund Direct Growth has ₹1736 Cr worth of assets under management (AUM) as on Jan 2025 and is less than category average.
- The fund has an expense ratio 0.6.
Returns
Mirae Asset Banking and Financial Services Fund Direct Growth has given a CAGR return of 16.11% since inception. Over the last 1 and 3 years the fund has given a CAGR return of 5.94% and 14.10% respectively.
Holdings
Mirae Asset 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, State Bank of India, Axis Bank Ltd, 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 20%For long term (more than 1 year) capital gains will be taxed at 12.5% without indexation benefitDividends will always be taxed at slab rate. Long term gains upto Rs 1 lakh are exempt capital gains tax.
Investment objective of Mirae Asset 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 sector. The Scheme does not guarantee or assure any returns.
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 Financial Services Fund Direct Growth has no lock in period.
Historical NAV & Returns
Absolute
▲
▼
464 people have invested ₹ 44.3L in Mirae Asset Banking and Financial Services Fund Direct Growth in the last three months
INDmoney Rank for Mirae Asset Banking and Financial Services Fund Direct Growth
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Lower expense ratio
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Mirae Asset Banking and Financial Services Fund Direct Growth Overview
| Expense ratio | 0.58% |
Benchmark | S&P BSE BANKEX INR |
| AUM | ₹1736 Cr |
| Inception Date | 11 December, 2020 |
| Min Lumpsum/SIP | ₹5000/₹99 |
Exit Load | 1.0% |
| Lock In | No Lock-in |
TurnOver | 21.1% |
| STCG | Selling mutual fund 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 (21-Feb-25)
Fund Distribution
as on (31-Jan-25)
Large cap
66.1%
Small cap
18.8%
Mid cap
14.5%
Sector Allocation
Financial Services
97.8%
Tech
2.2%
All changes are between Nov'24 and Jan'25
- AUM of the fund stands at 1.7K Cr as of Jan'25
- AUM decreased by 63.8 Cr between Jan'25 and Dec'24
Top Stocks bought last month
Bajaj Finance Ltd's allocation increased from 4.38% to 5.25%
Bank of Baroda's allocation increased from 1.31% to 2.16%
SBI Life Insurance Co Ltd's allocation increased from 2.69% to 2.98%
Top Stocks sold last month
HDFC Bank Ltd's allocation decreased from 17.72 % to 17.61 %
Axis Bank Ltd's allocation decreased from 6.43 % to 6.18 %
The Federal Bank Ltd's allocation decreased from 4.74 % to 4.6 %
Large Cap allocation has gone up from 65.1% to 66.1%
Small Cap allocation has gone down from 19% to 18.8%
Mid Cap allocation has gone down from 15% to 14.5%
Cash allocation has gone down from 0.9% to 0.7%
Top 2 Sectors in January were Financial Services, Tech
Jan'25
Financial Services
98%
Tech
2%
Dec'24
Financial Services
98%
Tech
2%
Holdings | Weight% | 1M Change | |
|---|---|---|---|
 HDFC Bank Ltd | 17.61% | 0% | |
 ICICI Bank Ltd | 16.45% | 0% | |
 State Bank of India | 8.12% | 0% | |
 Axis Bank Ltd | 6.18% | 0% | |
 Bajaj Finance Ltd | 5.25% | 0% |
See all
See all
Top Growth Drivers | 1M Return |
|---|---|
 Bajaj Finance Ltd | 13.4% |
 Kotak Mahindra Bank Ltd | 3.4% |
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Fund House
Mirae Asset Investment Managers (India) Private Limited
Total Schemes
Total AUM
₹1.86L Cr
as on 31-Jan-2025
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 Financial Services Fund Direct Growth Highlights
Very High Risk
Investors understand that their principal will be at Very High Risk
About the fund
This fund has delivered an average annual returns of 16.11% since inception which is more than its category average return of 12.4%
Fund Allocations
This fund has an allocation of 99.31% in Equity, 0% in Debt and 0.69% in Cash related instruments
AUM size ₹1736 Cr
This fund has AUM of ₹1736 Cr which is less than its category average of ₹ 1820 Cr
Expense Ratio 0.58%
This fund has an expense ratio of 0.58% which is less than its category average expense ratio of 1.26%
Frequently Asked Questions for Mirae Asset Banking and Financial Services Fund Direct Growth
The current NAV of Mirae Asset Banking and Financial Services Fund Direct Growth is ₹18.63 as on 21-Feb-2025.
Existing (Absolute + CAGR) as on 21-Feb-2025.
Mirae Asset Banking and Financial Services Fund Direct Growth | Absolute Returns | CAGR Returns |
1 Month Returns | -1.54% | -1.54% |
6 Month Returns | -4.1% | -4.1% |
1 Year Returns | 5.94% | 5.94% |
3 Years Returns | 48.55% | 14.1% |
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.
0.58% as on January 2025
₹1736 Cr as on January 2025
HDFC Bank Ltd(17.61%), ICICI Bank Ltd(16.45%), State Bank of India(8.12%), Axis Bank Ltd(6.18%), Bajaj Finance Ltd(5.25%) as on January 2025
The alpha ratio for the Mirae Asset Banking and Financial Services Fund Direct Growth for various period is as follows:
Fund Name | Alpha 1 Year | Alpha 3 Years | Alpha 5 Years |
Mirae Asset Banking and Financial Services Fund Direct Growth | -4.42 | 3.56 | - |
As on January 2025
The alpha for Mirae Asset Banking and Financial Services Fund Direct Growth is calculated against S&P BSE BANKEX INR. Higher alpha indicates that this fund has generated extra returns compared to the benchmark index. An alpha of 1.0 means the fund has outperformed its benchmark index by 1%.
The Beta ratio for the Mirae Asset Banking and Financial Services Fund Direct Growth for various period is as follows:
Fund Name | Beta 1 Year | Beta 3 Years | Beta 5 Years |
Mirae Asset Banking and Financial Services Fund Direct Growth | 1.14 | 0.96 | - |
As on January 2025
The Beta for Mirae Asset Banking and Financial Services Fund Direct Growth is calculated with S&P BSE BANKEX INR. Beta tells the volatility of the mutual fund relative to its benchmark. If the beta of a mutual fund is more than 1, then the mutual fund is more volatile than its benchmark. If beta is less than 1, then the mutual fund is less volatile than the benchmark.
The sharpe ratio for the Mirae Asset Banking and Financial Services Fund Direct Growth for various period is as follows:
Fund Name | Sharpe Ratio 1 Year | Sharpe Ratio 3 Years | Sharpe Ratio 5 Years |
Mirae Asset Banking and Financial Services Fund Direct Growth | 0.29 | 0.54 | - |
As on January 2025
The sharpe ratio for Mirae Asset Banking and Financial Services Fund Direct Growth is calculated with S&P BSE BANKEX INR. Sharpe ratio tells risk-adjusted-returns of the mutual fund. The higher a fund's Sharpe ratio, the better a fund's returns have been relative to the risk it has taken on.
The standard deviation for the Mirae Asset Banking and Financial Services Fund Direct Growth for various period is as follows:
Fund Name | Standard Deviation 1 Year | Standard Deviation 3 Years | Standard Deviation 5 Years |
Mirae Asset Banking and Financial Services Fund Direct Growth | 13.05 | 14.72 | - |
As on January 2025
Standard deviation tells the volatility of the returns of the mutual fund. The higher a fund's Standard deviation, the higher the volatility of the fund's returns.
Sortino ratio is 1.03 as on January 2025. Sortino ratio tells the downside risk-adjusted-returns of the mutual fund.
Information ratio is 0.72 as on January 2025. It tells the consistency of the fund in generating superior risk-adjusted performance
The Exit load of Mirae Asset Banking and Financial Services Fund Direct Growth is 1%