Overview
Mirae Asset Banking and Financial Services Fund Direct Growth
Mirae Asset Mutual Fund
The scheme seeks 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.
Investments in Mirae Asset Banking and Financial Services Fund Direct Growth are subject to market risks. Please read the offer document carefully before investing to understand the potential market risks and rewards.
Latest NAV
₹ 21.362
Fund Size (AUM)
₹ 1,841 Cr
Risk
Very High (Risk rating: 6/10)
Minimum Investment
Lumpsum: ₹ 5000
SIP: ₹99
Launch Date
11 December 2020
Expense Ratio
0.7%
Exit Load
Exit load of 1% if redeemed within one year.
Benchmark
NIFTY Financial Services Total Return Index
Standard Deviation
15.15
History
Performance & Ratios
1-Year SIP Return
16.15%
3-Year SIP Return
20.09%
5-Year SIP Return
N/A
Mean Return
N/A
Alpha
3.84
Beta
0.96
Sharpe Ratio
0.73
Sortino Ratio
1.94
Information Ratio
0.66
Returns
| 1Y | 3Y | 5Y | All Time | |
|---|---|---|---|---|
| Fund Returns | 21.56% | 19.96% | N/A | 81.45% |
| Category Average | 15.48% | 17.49% | 25.41% | N/A |
| Rank Within Category | 6 | 6 | N/A | N/A |
Holdings (30)
| Company | Sector | Instrument | Assets |
|---|---|---|---|
| HDFC Bank Ltd. | Financial | Equity | 17.87% |
| ICICI Bank Ltd. | Financial | Equity | 16.69% |
| State Bank of India | Financial | Equity | 7.64% |
| Axis Bank Ltd. | Financial | Equity | 7.22% |
| Bajaj Finance Ltd. | Financial | Equity | 4.35% |
| The Federal Bank Ltd. | Financial | Equity | 4.29% |
| India Shelter Finance Corporation Ltd. | Financial | Equity | 3.82% |
| SBI Life Insurance Company Ltd. | Insurance | Equity | 2.93% |
| Shriram Finance Ltd | Financial | Equity | 2.48% |
| General Insurance Corporation of India | Insurance | Equity | 2.47% |
Holdings Analysis
Peer Comparison
SIP, STP & SWP Details
Systematic Investment Plan (SIP):
Frequency: Monthly
Min Amount: ₹ 99
Multiplier: 1
Systematic Transfer Plan (STP):
Frequency: MONTHLY
Dates: 1, 10, 15, 21, 28
Min Amount: ₹ 1000
Min Installments: 5
Systematic Withdrawal Plan (SWP):
Frequency: MONTHLY
Dates: 1, 10, 15, 21, 28
Min Amount: ₹ 1000
Min Installments: 5
AMC Details
Asset Management Company
Mirae Asset Mutual Fund
Mirae Asset Mutual Fund started their mutual fund on 30/11/2007 and its managing total assets of ₹11,044 Cr. Its ranked at 22 as per total assets at end of 30th Sep 2017. Mirae Asset Mutual Fund employs robust strategies to manage market risks, but investments remain subject to market risks. Please read the fund’s documentation for detailed risk management policies.
Mirae Asset is a global financial company which is present across 12 countries and 5 continents. The company was founded in 1997 and since then pioneered to become a global presence.
Mirae believes that they are the best investment choice because of their strong investment philosophy, and niche to understand comparative advantage of various companies to make a sustainable and long- lasting decision for investors. They always believe in investing with a long term goal to sustainability in the market.
They believe in assessing risk in a way that it ultimately optimizes returns of investors. They constantly monitor the valuation, liquidity and corporate governance so that any risk can be mitigated. As a global brand it has obtained the trust of investors and has made a mark for itself in the mutual fund industry.
Launch Date
30 November 2007
Total AUM
₹ 1,83,685 Cr
Address
Unit No.606 - 6th Floor,Windsor Building - Off. CST Road,Kalina, Santacruz (East), Mumbai 400098
Phone
022-67800301 / 1800-2090-777
Website
Sub Type
Contra
Sub Type Info
Contra funds follow Contrarian strategy which means investing in stocks in contrast to the prevailing sentiment. Minimum investment in equity is 65%.
Tax Impact
Returns are taxed at 20%, if you redeem before one year. After 1 year, you are required to pay LTCG tax of 12.5% on returns of Rs 1.25 lakh+ in a financial year.
Stamp Duty
0.005% (from July 1st, 2020)
Fund Manager Details
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Mirae Asset Banking and Financial Services Fund Direct Growth
Mirae Asset Mutual Fund
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Frequently Asked Questions
How is the overall rating calculated?
The overall rating for Mirae Asset Banking and Financial Services Fund Direct Growth is an aggregate score based on performance metrics (returns over 1, 3, and 5 years), risk-adjusted returns (Sharpe and Sortino ratios), and consistency relative to its category. Ratings are on a scale of 1 to 5, with 5 being the highest.
What are the top stocks of Mirae Asset Banking and Financial Services Fund Direct Growth?
The top stocks held by Mirae Asset Banking and Financial Services Fund Direct Growth include HDFC Bank Ltd., ICICI Bank Ltd., State Bank of India.
Which industries does Mirae Asset Banking and Financial Services Fund Direct Growth invest in?
Mirae Asset Banking and Financial Services Fund Direct Growth primarily invests in the following industries: Financial, Insurance, Services.
Who is the fund manager of Mirae Asset Banking and Financial Services Fund Direct Growth?
The fund manager of Mirae Asset Banking and Financial Services Fund Direct Growth is Gaurav Kochar.
How many years has the fund manager been managing Mirae Asset Banking and Financial Services Fund Direct Growth?
Gaurav Kochar has been managing the fund for 4 years.
What is the minimum investment for Mirae Asset Banking and Financial Services Fund Direct Growth?
The minimum investment for Mirae Asset Banking and Financial Services Fund Direct Growth is ₹5000 for lumpsum investments and ₹99 for SIPs.
What are the average 1-year returns for Mirae Asset Banking and Financial Services Fund Direct Growth?
The average 1-year return for Mirae Asset Banking and Financial Services Fund Direct Growth is 16.15%.
What are the average 3-year returns for Mirae Asset Banking and Financial Services Fund Direct Growth?
The average 3-year return for Mirae Asset Banking and Financial Services Fund Direct Growth is 20.09%.
What is the expense ratio of Mirae Asset Banking and Financial Services Fund Direct Growth, and how does it compare to its category?
The expense ratio of Mirae Asset Banking and Financial Services Fund Direct Growth is 0.7%. No category comparison data is available.