3 Year return

17.65%
Launched on November 2020 (4 years)

Investment Details

₹500

Minimum SIP Amount

₹5000

Minimum one time investment

Fund has no lock-in period

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Based on past performance of this fund

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Risk Involved

scale

Your principal will be at

Very High Risk

Scheme Information

Asset Under Management

₹1671.29 Cr.

Expense Ratio

0.61% (inclusive of GST)

Exit Load

1.00%: If units Redeemed or Switched Out within 1 year (365 days) from the date of allotment. Nil after 1 year (365 Days).

Ratings

ARQ Rating
0

Ratings by other agencies

0
0
0

Tax Implications

Withdrawal within 1 year

Exit load + 15% tax on gains

Withdrawal after 1 year

10% tax on gains over ₹1 Lakh per financial year

Fund Holdings

Holdings

Mirae Asset Mutual Fund Managers

HB

Harshad Borawake

Fund Manager since Jan 2024

View Details

Fund House Details

Mirae Asset Mutual Fund

Mirae Asset Mutual Fund Asset management company

AUM ₹164,467.60 Cr.
No. of Schemes 107
Setup Date NA

Peer Comparison

Comparison with other similar funds

Schemes by Mirae Asset Mutual Fund

List of mutual fund schemes by AMC

Funds 3 Years Returns

About Mirae Asset Banking and Financial Services Fund Direct Growth

Mirae Asset Banking and Financial Services Fund Direct Growth is one of the equity schemes that the Mirae Asset Mutual Fund administers. This open-ended equity scheme focuses on investing in companies within the Banking & Financial Services Sector. The fund manager adopts a broad analysis of industry trends and business cycles to identify potential beneficiaries of growth in this sector. This approach allows the fund to invest across market capitalisations in a diverse portfolio of companies aligned with the theme.

Investment Objective of the Scheme

The primary investment objective of Mirae Asset Banking and Financial Services Fund Direct Growth is to achieve long-term capital appreciation. The scheme predominantly invests in equity and equity-related securities of companies operating within the banking and financial services sector to achieve this objective. By targeting companies expected to benefit from the sector's growth prospects, the fund endeavours to deliver attractive returns over an extended investment horizon.

Key Features of The Fund

5-year return NA
Expense Ratio 0.61%
Fund Manager Harshad Borawake
Fund Size ₹1671.29 Cr
Risk Profile Very High

Is This Scheme Right for Me?

Mirae Asset Banking and Financial Services Fund Direct Growth may appeal to investors seeking long-term capital appreciation and are willing to take on higher levels of risk. If you have a higher risk appetite and are open to the potential volatility associated with equity investments, this fund offers exposure to companies within the banking and financial services sector. It is well-suited for those with long investment horizons to harness the growth potential of the selected companies. Interested investors should carefully assess their financial goals, risk tolerance, and investment time horizon before committing to the scheme.

AMC Contact Details

Name Mirae Asset Mutual Fund
Launch Date November 2007
Addresss Unit No. 606, 6th Floor, Windsor Bldg, Off CST Road, Kalina, Santacruz (East), Mumbai - 400 098.
Contact 1800-2090-777
Email customercare@miraeasset.com
Website https://www.miraeassetmf.co.in/

Disclaimer: Mutual funds are subject to market risk. Read all scheme-related documents carefully to make informed-decision.

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FAQs

What is today's NAV of Mirae Asset Banking and Financial Services Fund?

NAV, or Net Asset Value, is the price of a single unit of a mutual fund. It is calculated by dividing the current value of holdings held by the mutual fund scheme at the end of the day by the total number of units issued. The NAV changes every day. The NAV of Mirae Asset Banking and Financial Services Fund Jun 14 2024 is 19.094

What is the AUM of Mirae Asset Banking and Financial Services Fund?

Short for Asset Under Management, AUM means the total assets held by a mutual fund scheme. The AUM of the fund changes every day based on the fluctuation in the price of the underlying assets. Fund houses don't update AUM on a daily basis. They only update it at the end of the month and release it within a few days of the following month. The AUM of Mirae Asset Banking and Financial Services Fund is 1671.29 crore.

What is the expense ratio of Mirae Asset Banking and Financial Services Fund?

The expense ratio is the annual charges you pay to the mutual fund house for managing your investments. It is a percentage of Assets Under Management. It is deducted from the fund’s returns. The expense ratio of Mirae Asset Banking and Financial Services Fund is 0.61%

What are the returns of Mirae Asset Banking and Financial Services Fund since inception?

The Mirae Asset Banking and Financial Services Fund was launched on Nov 25 2020. The fund has delivered a CAGR of 20.24 since inception.

What is the minimum SIP amount to invest in Mirae Asset Banking and Financial Services Fund?

A Systematic Investment Plan (SIP) in mutual funds allows you to invest small amounts periodically instead of a one-time investment. The frequency of investment can be monthly, quarterly, half-yearly or annually, as per your convenience. The minimum SIP for Mirae Asset Banking and Financial Services Fund is 500.

How do I invest in Mirae Asset Banking and Financial Services Fund?

  1. Make sure you are logged in to Angel One.
  2. Select the type of investment: SIP or one-time.
  3. In case of an SIP, select the amount and date and click ‘Start SIP’. In case of a one-time investment, enter just the amount.
  4. Proceed by clicking the pay button and choosing your mode of payment.
  5. Your portfolio will be updated with this investment in 3-5 working days.

How to start an SIP in Mirae Asset Banking and Financial Services Fund?

  1. Click on the ‘Invest’ button.
  2. Enter your desired SIP amount and the SIP date.
  3. You can uncheck the ‘Make first payment now’ box if you don’t want to make the payment right away.
  4. Choose your payment method between UPI and Net Banking.
  5. Make your payment.
  6. Your SIP is created.

How do I automate an SIP in Mirae Asset Banking and Financial Services Fund?

  1. Once you create an SIP, click on ‘Set up autopay’
  2. Select your desired verification method - debit card, net banking or Aadhar method credentials - and click on submit.
  3. Once you verify the OTP, your mandate request will be created.

How can I withdraw/redeem my investment in Mirae Asset Banking and Financial Services Fund?

  1. Go to the ‘Investments’ section and click on the mutual fund scheme you want to withdraw.
  2. Enter the amount you want to withdraw and tap the ‘Withdraw’ button.
  3. Verify the details on the ‘Confirm withdraw’ screen.
  4. Select the bank account in which you want to receive the funds.
  5. You will receive your funds within three working days of placing the order.
  6. You can track your order in the ‘Orders’ section.