MIRAE ASSET
BANKING AND FINANCIAL SERVICES FUND - (MABFSF)
(Sectoral / Thematic Fund - An open-ended equity scheme investing in Banking & Financial Services Sector)
| Type of Scheme | Sectoral / Thematic Fund - An open-ended equity scheme investing in Banking & Financial Services Sector |
| Investment Objective | 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. |
Fund Manager** |
Mr. Gaurav Kochar (since December 11, 2020) |
| Allotment Date | 11th December, 2020 |
| Benchmark Index | Nifty Financial Services Index (TRI) |
| Minimum Investment Amount |
₹ 5,000/- and in multiples of ₹ 1/-thereafter. Minimum Additional Application Amount: ₹ 1,000/- per application and in multiples of ₹ 1/- thereafter. |
Systematic Investment Plan (SIP) (Any Date SIP is available from 1st July, 2019) |
Monthly and Quarterly: ₹1,000/- (multiples of ₹1/- thereafter), minimum 5 in case of Monthly or 3 in case of Quarterly option. |
| Load Structure | Entry load: NA Exit load: If redeemed within 1 year (365 days) from the date of allotment: 1% If redeemed after 1 year (365 days) from the date of allotment: NIL |
| Plans Available | Regular Plan and Direct Plan |
| Options Available | Growth Option and IDCW^ Option (Payout & Re-investment) |
| Monthly Average AUM (₹ Cr.) as on January 31, 2023 | 1,250.72 |
| Net AUM (₹ Cr.) |
1,220.65 |
| Monthly Avg. Expense Ratio (Including Statutory Levies) as on January 31, 2023 |
Regular Plan: 2.20% Direct Plan: 0.61% |
| ^Pursuant to Notice cum addendum dated March 27, 2021 the nomenclature of dividend option has been changed w.e.f. April 01, 2021. | |
| **For experience of Fund Managers Click Here | |
| NAV: | Direct | Regular |
| Growth | ₹ 13.543 | ₹ 13.061 |
| IDCW^ | ₹ 13.504 | ₹ 13.077 |
| Portfolio Turnover Ratio | 0.28 times |
@The Volatility, Beta, R Squared, Sharpe Ratio & Information Ratio are calculated on returns from last three years Monthly data points. # Risk free rate: FBIL OVERNIGHT MIBOR as on 31st January, 2023. ^Basis last rolling 12 months. |
|
| Portfolio Holdings | % Allocation |
| Banks | |
| HDFC Bank Ltd | 20.78% |
| ICICI Bank Ltd | 17.45% |
| Axis Bank Ltd | 10.02% |
| State Bank of India | 8.75% |
| Kotak Mahindra Bank Ltd | 3.81% |
| The Federal Bank Ltd | 3.67% |
| Canara Bank | 1.35% |
| Bank of Baroda | 0.62% |
| IndusInd Bank Ltd | 0.01% |
| Finance | |
| Housing Development Finance Corporation Ltd | 6.31% |
| SBI Cards and Payment Services Ltd | 2.85% |
| Shriram Finance Ltd | 2.78% |
| Bajaj Finserv Ltd | 2.49% |
| Fusion Micro Finance Ltd | 2.33% |
| Can Fin Homes Ltd | 1.70% |
| Power Finance Corporation Ltd | 1.54% |
| CreditAccess Grameen Ltd | 1.46% |
| Five Star Business Finance Ltd | 1.27% |
| Cholamandalam Financial Holdings Ltd | 1.15% |
| Equitas Holdings Ltd | 0.37% |
| Insurance | |
| SBI Life Insurance Company Ltd | 3.46% |
| ICICI Lombard General Insurance Company Ltd | 1.73% |
| Max Financial Services Ltd | 1.54% |
| Capital Markets | |
| KFin Technologies Ltd | 1.07% |
| UTI Asset Management Company Ltd | 0.69% |
| Financial Technology (Fintech) | |
| One 97 Communications Ltd | 0.13% |
| Equity Holding Total | 99.89% |
| Cash & Other Receivables | 0.11% |
| Total | 100.00% |
| New Position Bought |
| Stock |
| Banks |
| The Federal Bank Limited |
| Positions Increased |
| Stock |
| Banks |
| Bank of Baroda |
| Canara Bank |
| Finance |
| Fusion Micro Finance Limited |
| SBI Cards and Payment Services Limited |
| Insurance |
| ICICI Lombard General Insurance Company Limited |
| Positions Decreased |
| Stock |
| Banks |
| ICICI Bank Limited |
| Kotak Mahindra Bank Limited |
| State Bank of India |
| Capital Markets |
| UTI Asset Management Company Limited |
| Finance |
| CreditAccess Grameen Limited |
| Housing Development Finance Corporation Limited |
| Power Finance Corporation Limited |
| Insurance |
| Max Financial Services Limited |
| SBI Life Insurance Company Limited |
| Returns (in%) | ||||
| 1 Yr | SI | |||
| MABFSF | 3.69% |
13.29% |
||
| Scheme Benchmark* | 2.34% |
11.62% |
||
| Additional Benchmark** | 3.98% |
13.96% |
||
| NAV as on 31st January, 2023 | ₹ 13.061 | |||
| Index Value (31st January, 2023) | Index Value of benchmark is 22,291.36 and S&P BSE Sensex (TRI) is 90,044.47 |
|||
| Allotment Date | 11th December, 2020 | |||
| Scheme Benchmark | *Nifty Financial Services Index (TRI) | |||
| Additional Benchmark | **S&P BSE Sensex (TRI) | |||
Fund manager : Mr. Gaurav Kochar managing the scheme since 11th December, 2020.
Note: Returns below or for 1 year are absolute returns, returns above 1 year are CAGR- Compounded Annualized Growth returns.
| Period | Total Amount Invested | Mkt Value as on 31-January-2023 |
SI |
250,000 |
271,872 |
1 Yr |
120,000 |
126,428 |
Returns (%) |
Period |
|
SI |
1yr |
|
Fund Return& (%) |
7.95 |
10.04 |
Benchmark Return& (%) |
5.96 |
6.96 |
Add. Benchmark Return& (%) |
8.05 |
5.94 |
& The SIP returns are calculated by XIRR approach assuming investment of ₹ 10,000/- on the 1st working day of every month.
This product is suitable for investors who are seeking*
• To generate long term capital appreciation
• Investments predominantly in equity and equity related securities of companies in banking and financial services sector in india
*Investors should consult their financial advisers if they are not clear about the suitability of the product.
Note : For computation of since inception returns (%) the allotment NAV has been taken as ₹ 10.00. The performance of other funds managed by the same fund managers are given in the respective page of the schemes 
Different Plans under the scheme has different expense structure. The reference and details provided here in are of Regular Plan - Growth Option