Mirae Asset Banking and Financial Services Fund Direct Growth
Equity
Direct
Sector - Financial Services
NAV as on 19-11-2024
₹ 19.42
▲0.7%
1D
Inception Returns
18.4%
/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 ₹1845 Cr worth of assets under management (AUM) as on Oct 2024 and is more 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 18.36% since inception. Over the last 1 and 3 years the fund has given a CAGR return of 20.99% and 13.87% 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, The Federal Bank 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 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
Annualised
▲
▼
454 people have invested ₹ 29.2L 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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IND ranking is not available for this fund.
Lower expense ratio
No bad points found for this fund.
Mirae Asset Banking and Financial Services Fund Direct Growth Overview
| Expense ratio | 0.61% |
Benchmark | S&P BSE BANKEX INR |
| AUM | ₹1845 Cr |
| Inception Date | 11 December, 2020 |
| Min Lumpsum/SIP | ₹5000/₹99 |
Exit Load | 1.0% |
| Lock In | No Lock-in |
TurnOver | 21.1% |
| 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)
Large cap
63.5%
Small cap
19.3%
Mid cap
16.1%
Sector Allocation
Financial Services
99%
Tech
1%
All changes are between Aug'24 and Oct'24
- This fund’s returns stands at -2.59% whereas the fund’s underlying benchmark Nifty 500 returns stands at -6.52% as on Oct'24
- This fund outperformed Nifty 500 by 3.93% in Oct'24
- AUM of the fund stands at 1.8K Cr as of Oct'24
- AUM decreased by 37.4 Cr between Oct'24 and Sep'24
Top Stocks bought last month
Bajaj Finance Ltd's allocation increased from 2.95% to 3.94%
State Bank of India's allocation increased from 7.4% to 8.31%
CARE Ratings Ltd's allocation increased from 1.26% to 1.85%
Top Stocks sold last month
Axis Bank Ltd's allocation decreased from 7.12 % to 6.83 %
India Shelter Finance Corporation Ltd's allocation decreased from 4.23 % to 3.9 %
Shriram Finance Ltd's allocation decreased from 2.81 % to 2.52 %
Large Cap allocation has gone up from 61.9% to 63.5%
Small Cap allocation has gone down from 19.7% to 19.3%
Mid Cap allocation has gone down from 16.3% to 16.1%
Cash allocation has gone down from 0.9% to 0.5%
Top 2 Sectors in October were Financial Services, Tech
Oct'24
Financial Services
99%
Tech
Sep'24
Financial Services
99%
Tech
Holdings | Weight% | 1M Change | |
|---|---|---|---|
 HDFC Bank Ltd | 16.93% | 0% | |
 ICICI Bank Ltd | 16.87% | -2% | |
 State Bank of India | 8.31% | 5.7% | |
 Axis Bank Ltd | 6.83% | 0% | |
 The Federal Bank Ltd | 5.88% | 0% |
See all
See all
Top Growth Drivers | 1M Return |
|---|---|
 CARE Ratings Ltd | 10.8% |
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Fund House
Mirae Asset Investment Managers (India) Private Limited
Total Schemes
Total AUM
₹1.89L Cr
as on 31-Oct-2024
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 18.36% since inception which is more than its category average return of 14.51%
Fund Allocations
This fund has an allocation of 99.52% in Equity, 0% in Debt and 0.48% in Cash related instruments
AUM size ₹1845 Cr
This fund has AUM of ₹1845 Cr which is more than its category average of ₹ 1738 Cr
Expense Ratio 0.61%
This fund has an expense ratio of 0.61% which is less than its category average expense ratio of 1.38%
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 ₹19.42 as on 19-Nov-2024.
Existing (Absolute + CAGR) as on 19-Nov-2024.
Mirae Asset Banking and Financial Services Fund Direct Growth | Absolute Returns | CAGR Returns |
1 Month Returns | -3.71% | -3.71% |
6 Month Returns | 7.82% | 7.82% |
1 Year Returns | 20.99% | 20.99% |
3 Years Returns | 47.65% | 13.87% |
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.
0.61% as on October 2024
₹1845 Cr as on October 2024
HDFC Bank Ltd(16.93%), ICICI Bank Ltd(16.87%), State Bank of India(8.31%), Axis Bank Ltd(6.83%), The Federal Bank Ltd(5.88%) as on October 2024
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 | 3.82 | 4.98 | - |
As on October 2024
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 | 0.86 | 0.96 | - |
As on October 2024
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 | 1.42 | 0.59 | - |
As on October 2024
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 | 12.97 | 15.21 | - |
As on October 2024
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 1.08 as on October 2024. Sortino ratio tells the downside risk-adjusted-returns of the mutual fund.
Information ratio is 1.07 as on October 2024. 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%