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Best Financial Mutual Funds 2024
A financial Mutual Funds are a part of sector Equity Funds. These funds are also known as ‘Banking & Financial Services Fund’. The aim of these funds is to generate Income by Investing in stocks/shares of companies that cater to the banking sector and financial Industry. So, let’s understand the future potential of financial funds, along with the best financial mutual funds to invest.
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Financial Mutual Funds in India
If we look at the July 2017 data released by SEBI, banking and sector funds were the most favored ones. The data shows that Bank and finance- the two leading sectors has shown a sharp surge in share AUM.
As per the Jul’17 statistics, the AUM of the banking sector, which is the leading sector, has moved from 20.9 percent to 22.6 percent in just six months.
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Top Performing Best Financial Mutual Funds FY 24 - 25
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2023 (%) Aditya Birla Sun Life Banking And Financial Services Fund Growth ₹52.13
↑ 0.19 ₹2,990 5.6 12.7 29.4 17.9 12.2 21.7 ICICI Prudential Banking and Financial Services Fund Growth ₹109.93
↑ 0.40 ₹7,490 6.5 11.9 23.2 16.7 10.9 17.9 Invesco India Financial Services Fund Growth ₹112.32
↑ 0.04 ₹744 7.6 21.2 37.3 20 14.7 26 Sundaram Financial Services Opportunities Fund Growth ₹89.9854
↑ 0.10 ₹1,150 5.3 16.5 35.4 20.7 17 31.1 UTI Banking and Financial Services Fund Growth ₹157.129
↑ 0.31 ₹1,032 3.5 15.4 25.6 16.3 9.4 19.5 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 24 Apr 24
When we speak about the banking and finance sector of India, we have many major players like ICICI Bank Ltd, HDFC Bank Ltd, State Bank of India, Yes Bank Ltd, Axis Bank Ltd, etc. The Indian banking system consists of 26 private sector banks, 27 public sector banks, 1,574 urban cooperative banks, 56 regional rural banks, 46 foreign banks and 93,913 rural cooperative banks in addition to cooperative credit institutions.
Companies that operate within the banking and financial industry are highly regulated. Many good companies aim to deliver consistent performance and returns over the years, as a result, it brings in confidence for investors who are planning to invest in sector funds. However, one should always keep in mind the risk factors of such funds. These funds, sometime, can be at two extremes, they can deliver good returns and can sometimes perform badly too. Therefore, it is advisable that investors who are planning to invest in such sector funds should have a high-risk appetite and also should stay invested for a longer duration. Ideally, one should invest in such funds for diversification purpose.
The primary investment objective of the Scheme is to generate long-term capital appreciation to unit holders from a portfolio that is invested predominantly in equity and equity related securities of companies engaged in banking and financial services. The Scheme does not guarantee/indicate any returns. There can be no assurance that the schemes’ objectives will be achieved. Aditya Birla Sun Life Banking And Financial Services Fund is a Equity - Sectoral fund was launched on 14 Dec 13. It is a fund with High risk and has given a Below is the key information for Aditya Birla Sun Life Banking And Financial Services Fund Returns up to 1 year are on ICICI Prudential Banking and Financial Services Fund is an Open-ended equity scheme that seeks to generate long-term capital appreciation to unitholders from a portfolio that is invested predominantly in equity and equity related securities of companies engaged in banking and financial services. However, there can be no assurance that the investment objective of the Scheme will be realized. ICICI Prudential Banking and Financial Services Fund is a Equity - Sectoral fund was launched on 22 Aug 08. It is a fund with High risk and has given a Below is the key information for ICICI Prudential Banking and Financial Services Fund Returns up to 1 year are on (Erstwhile Invesco India Banking Fund) The investment objective of the Scheme is to generate long-term capital growth from a portfolio of equity and equity-related securities of companies engaged in the business of banking and financial services. Invesco India Financial Services Fund is a Equity - Sectoral fund was launched on 14 Jul 08. It is a fund with High risk and has given a Below is the key information for Invesco India Financial Services Fund Returns up to 1 year are on Seek capital appreciation by investing predominantly in equity and equity related securities of indian companies engaged in banking and financial Services. Sundaram Financial Services Opportunities Fund is a Equity - Sectoral fund was launched on 10 Jun 08. It is a fund with High risk and has given a Below is the key information for Sundaram Financial Services Opportunities Fund Returns up to 1 year are on (Erstwhile UTI Banking Sector Fund) Investment objective is "capital appreciation" through investments in the stocks of the companies/institutions engaged in the banking and financial services activities. UTI Banking and Financial Services Fund is a Equity - Sectoral fund was launched on 7 Apr 04. It is a fund with High risk and has given a Below is the key information for UTI Banking and Financial Services Fund Returns up to 1 year are on 1. Aditya Birla Sun Life Banking And Financial Services Fund
CAGR/Annualized return of 17.3% since its launch. Ranked 3 in Sectoral category. Return for 2023 was 21.7% , 2022 was 11.5% and 2021 was 16.8% . Aditya Birla Sun Life Banking And Financial Services Fund
Growth Launch Date 14 Dec 13 NAV (24 Apr 24) ₹52.13 ↑ 0.19 (0.37 %) Net Assets (Cr) ₹2,990 on 31 Mar 24 Category Equity - Sectoral AMC Birla Sun Life Asset Management Co Ltd Rating ☆☆☆☆☆ Risk High Expense Ratio 2.13 Sharpe Ratio 1.81 Information Ratio 0.65 Alpha Ratio 13.25 Min Investment 1,000 Min SIP Investment 1,000 Exit Load 0-365 Days (1%),365 Days and above(NIL) Growth of 10,000 investment over the years.
Date Value 31 Mar 19 ₹10,000 31 Mar 20 ₹6,301 31 Mar 21 ₹11,191 31 Mar 22 ₹12,514 31 Mar 23 ₹13,051 31 Mar 24 ₹17,014 Returns for Aditya Birla Sun Life Banking And Financial Services Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 24 Apr 24 Duration Returns 1 Month 4.7% 3 Month 5.6% 6 Month 12.7% 1 Year 29.4% 3 Year 17.9% 5 Year 12.2% 10 Year 15 Year Since launch 17.3% Historical performance (Yearly) on absolute basis
Year Returns 2023 21.7% 2022 11.5% 2021 16.8% 2020 1.1% 2019 14.9% 2018 -2.4% 2017 47.6% 2016 15.7% 2015 -0.5% 2014 65.8% Fund Manager information for Aditya Birla Sun Life Banking And Financial Services Fund
Name Since Tenure Dhaval Gala 26 Aug 15 8.61 Yr. Dhaval Joshi 21 Nov 22 1.36 Yr. Data below for Aditya Birla Sun Life Banking And Financial Services Fund as on 31 Mar 24
Equity Sector Allocation
Sector Value Financial Services 93.7% Technology 2.88% Asset Allocation
Asset Class Value Cash 2.23% Equity 97.77% Other 0% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 13 | ICICIBANK17% ₹525 Cr 4,993,129 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 13 | HDFCBANK15% ₹440 Cr 3,136,948 Axis Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | 5322156% ₹183 Cr 1,699,645 State Bank of India (Financial Services)
Equity, Since 31 Oct 17 | SBIN6% ₹176 Cr 2,351,492 Bajaj Finance Ltd (Financial Services)
Equity, Since 30 Sep 16 | 5000345% ₹165 Cr 253,725 Poonawalla Fincorp Ltd (Financial Services)
Equity, Since 31 May 21 | POONAWALLA4% ₹113 Cr 2,422,221 Shriram Finance Ltd (Financial Services)
Equity, Since 30 Jun 23 | SHRIRAMFIN4% ₹112 Cr 458,066
↑ 43,236 Repco Home Finance Ltd (Financial Services)
Equity, Since 31 Dec 13 | 5353223% ₹92 Cr 2,095,955 Computer Age Management Services Ltd Ordinary Shares (Technology)
Equity, Since 31 Dec 23 | CAMS3% ₹83 Cr 270,899 The Federal Bank Ltd (Financial Services)
Equity, Since 31 Jan 21 | FEDERALBNK3% ₹83 Cr 5,510,858
↑ 1,035,180 2. ICICI Prudential Banking and Financial Services Fund
CAGR/Annualized return of 16.5% since its launch. Return for 2023 was 17.9% , 2022 was 11.9% and 2021 was 23.5% . ICICI Prudential Banking and Financial Services Fund
Growth Launch Date 22 Aug 08 NAV (24 Apr 24) ₹109.93 ↑ 0.40 (0.37 %) Net Assets (Cr) ₹7,490 on 31 Mar 24 Category Equity - Sectoral AMC ICICI Prudential Asset Management Company Limited Rating ☆☆☆☆☆ Risk High Expense Ratio 1.98 Sharpe Ratio 1.59 Information Ratio 0.51 Alpha Ratio 8.53 Min Investment 5,000 Min SIP Investment 100 Exit Load 0-1 Years (1%),1 Years and above(NIL) Growth of 10,000 investment over the years.
Date Value 31 Mar 19 ₹10,000 31 Mar 20 ₹6,198 31 Mar 21 ₹10,971 31 Mar 22 ₹12,335 31 Mar 23 ₹13,143 31 Mar 24 ₹16,391 Returns for ICICI Prudential Banking and Financial Services Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 24 Apr 24 Duration Returns 1 Month 3.2% 3 Month 6.5% 6 Month 11.9% 1 Year 23.2% 3 Year 16.7% 5 Year 10.9% 10 Year 15 Year Since launch 16.5% Historical performance (Yearly) on absolute basis
Year Returns 2023 17.9% 2022 11.9% 2021 23.5% 2020 -5.5% 2019 14.5% 2018 -0.4% 2017 45.1% 2016 21.1% 2015 -7.2% 2014 69% Fund Manager information for ICICI Prudential Banking and Financial Services Fund
Name Since Tenure Roshan Chutkey 29 Jan 18 6.18 Yr. Sharmila D’mello 30 Jun 22 1.76 Yr. Data below for ICICI Prudential Banking and Financial Services Fund as on 31 Mar 24
Equity Sector Allocation
Sector Value Financial Services 91.39% Industrials 0.78% Technology 0.35% Asset Allocation
Asset Class Value Cash 7.48% Equity 92.52% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Oct 08 | HDFCBANK19% ₹1,418 Cr 10,103,543 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 08 | ICICIBANK19% ₹1,387 Cr 13,180,849 Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 31 Jan 23 | KOTAKBANK6% ₹472 Cr 2,793,219 Axis Bank Ltd (Financial Services)
Equity, Since 28 Feb 19 | 5322156% ₹449 Cr 4,175,641 ICICI Lombard General Insurance Co Ltd (Financial Services)
Equity, Since 30 Sep 19 | ICICIGI6% ₹412 Cr 2,404,058
↓ -156,775 SBI Life Insurance Company Limited (Financial Services)
Equity, Since 30 Sep 17 | SBILIFE5% ₹389 Cr 2,506,554
↓ -128,231 State Bank of India (Financial Services)
Equity, Since 31 Oct 08 | SBIN4% ₹277 Cr 3,697,116
↓ -5,833,360 Bajaj Finance Ltd (Financial Services)
Equity, Since 30 Nov 23 | 5000343% ₹237 Cr 364,446 SBI Cards and Payment Services Ltd Ordinary Shares (Financial Services)
Equity, Since 31 Oct 21 | SBICARD3% ₹225 Cr 3,121,785 Muthoot Finance Ltd (Financial Services)
Equity, Since 30 Apr 22 | 5333983% ₹199 Cr 1,527,821
↓ -11,160 3. Invesco India Financial Services Fund
CAGR/Annualized return of 16.6% since its launch. Ranked 5 in Sectoral category. Return for 2023 was 26% , 2022 was 12.8% and 2021 was 14% . Invesco India Financial Services Fund
Growth Launch Date 14 Jul 08 NAV (24 Apr 24) ₹112.32 ↑ 0.04 (0.04 %) Net Assets (Cr) ₹744 on 31 Mar 24 Category Equity - Sectoral AMC Invesco Asset Management (India) Private Ltd Rating ☆☆☆☆ Risk High Expense Ratio 2.53 Sharpe Ratio 2.87 Information Ratio 0.9 Alpha Ratio 20.64 Min Investment 5,000 Min SIP Investment 100 Exit Load 0-1 Years (1%),1 Years and above(NIL) Growth of 10,000 investment over the years.
Date Value 31 Mar 19 ₹10,000 31 Mar 20 ₹7,241 31 Mar 21 ₹11,753 31 Mar 22 ₹13,072 31 Mar 23 ₹13,806 31 Mar 24 ₹18,952 Returns for Invesco India Financial Services Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 24 Apr 24 Duration Returns 1 Month 4.8% 3 Month 7.6% 6 Month 21.2% 1 Year 37.3% 3 Year 20% 5 Year 14.7% 10 Year 15 Year Since launch 16.6% Historical performance (Yearly) on absolute basis
Year Returns 2023 26% 2022 12.8% 2021 14% 2020 2.4% 2019 21.2% 2018 -0.3% 2017 45.2% 2016 10.4% 2015 -2.1% 2014 55.8% Fund Manager information for Invesco India Financial Services Fund
Name Since Tenure Dhimant Kothari 1 Jun 18 5.84 Yr. Hiten Jain 19 May 20 3.87 Yr. Data below for Invesco India Financial Services Fund as on 31 Mar 24
Equity Sector Allocation
Sector Value Financial Services 90.92% Technology 3.4% Health Care 2.09% Asset Allocation
Asset Class Value Cash 3.59% Equity 96.41% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK20% ₹145 Cr 1,382,340
↑ 72,521 State Bank of India (Financial Services)
Equity, Since 31 Aug 20 | SBIN9% ₹63 Cr 838,841 Axis Bank Ltd (Financial Services)
Equity, Since 31 May 18 | 5322157% ₹54 Cr 498,894 Bajaj Finance Ltd (Financial Services)
Equity, Since 30 Nov 21 | 5000345% ₹33 Cr 50,798 Equitas Small Finance Bank Ltd Ordinary Shares (Financial Services)
Equity, Since 31 Mar 23 | 5432434% ₹31 Cr 3,117,216 SBI Life Insurance Company Limited (Financial Services)
Equity, Since 31 Mar 20 | SBILIFE4% ₹29 Cr 185,174 Multi Commodity Exchange of India Ltd (Financial Services)
Equity, Since 28 Feb 22 | MCX4% ₹28 Cr 74,129 BSE Ltd (Financial Services)
Equity, Since 30 Sep 23 | BSE4% ₹26 Cr 111,549 Computer Age Management Services Ltd Ordinary Shares (Technology)
Equity, Since 30 Sep 23 | CAMS3% ₹25 Cr 80,405 PB Fintech Ltd (Financial Services)
Equity, Since 30 Nov 21 | 5433903% ₹24 Cr 202,762
↑ 19,929 4. Sundaram Financial Services Opportunities Fund
CAGR/Annualized return of 14.8% since its launch. Ranked 23 in Sectoral category. Return for 2023 was 31.1% , 2022 was 16.8% and 2021 was 15.3% . Sundaram Financial Services Opportunities Fund
Growth Launch Date 10 Jun 08 NAV (24 Apr 24) ₹89.9854 ↑ 0.10 (0.12 %) Net Assets (Cr) ₹1,150 on 29 Feb 24 Category Equity - Sectoral AMC Sundaram Asset Management Company Ltd Rating ☆☆☆ Risk High Expense Ratio 2.52 Sharpe Ratio 2.41 Information Ratio 1.65 Alpha Ratio 20.12 Min Investment 100,000 Min SIP Investment 100 Exit Load 0-12 Months (1%),12 Months and above(NIL) Growth of 10,000 investment over the years.
Date Value 31 Mar 19 ₹10,000 31 Mar 20 ₹7,505 31 Mar 21 ₹12,829 31 Mar 22 ₹14,075 31 Mar 23 ₹15,482 31 Mar 24 ₹21,364 Returns for Sundaram Financial Services Opportunities Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 24 Apr 24 Duration Returns 1 Month 3.3% 3 Month 5.3% 6 Month 16.5% 1 Year 35.4% 3 Year 20.7% 5 Year 17% 10 Year 15 Year Since launch 14.8% Historical performance (Yearly) on absolute basis
Year Returns 2023 31.1% 2022 16.8% 2021 15.3% 2020 2.7% 2019 26.4% 2018 -3.7% 2017 33.3% 2016 12.8% 2015 -9% 2014 58% Fund Manager information for Sundaram Financial Services Opportunities Fund
Name Since Tenure Rohit Seksaria 30 Dec 17 6.25 Yr. Ashish Aggarwal 1 Jan 22 2.25 Yr. Data below for Sundaram Financial Services Opportunities Fund as on 29 Feb 24
Equity Sector Allocation
Sector Value Financial Services 91.29% Asset Allocation
Asset Class Value Cash 4.28% Equity 95.3% Debt 0.42% Other 0% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 30 Jun 10 | ICICIBANK18% ₹205 Cr 1,947,036
↓ -55,120 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 08 | HDFCBANK15% ₹174 Cr 1,237,369 Axis Bank Ltd (Financial Services)
Equity, Since 28 Feb 10 | 5322159% ₹106 Cr 983,392
↑ 21,506 State Bank of India (Financial Services)
Equity, Since 31 Dec 08 | SBIN7% ₹80 Cr 1,071,439
↓ -76,013 Power Finance Corp Ltd (Financial Services)
Equity, Since 31 Jan 23 | 5328105% ₹61 Cr 1,529,956
↓ -76,569 Cholamandalam Financial Holdings Ltd (Financial Services)
Equity, Since 31 Aug 22 | CHOLAHLDNG4% ₹46 Cr 440,354 Ujjivan Financial Services Limited
Equity, Since 31 Jan 23 | -4% ₹46 Cr 840,477 Bajaj Finance Ltd (Financial Services)
Equity, Since 31 Jul 18 | 5000344% ₹46 Cr 70,227
↑ 12,887 Shriram Finance Ltd (Financial Services)
Equity, Since 30 Sep 23 | SHRIRAMFIN4% ₹43 Cr 178,174 Equitas Small Finance Bank Ltd Ordinary Shares (Financial Services)
Equity, Since 28 Feb 23 | 5432433% ₹39 Cr 3,943,039
↑ 224,752 5. UTI Banking and Financial Services Fund
CAGR/Annualized return of 14.7% since its launch. Ranked 20 in Sectoral category. Return for 2023 was 19.5% , 2022 was 15.1% and 2021 was 14.3% . UTI Banking and Financial Services Fund
Growth Launch Date 7 Apr 04 NAV (24 Apr 24) ₹157.129 ↑ 0.31 (0.20 %) Net Assets (Cr) ₹1,032 on 31 Mar 24 Category Equity - Sectoral AMC UTI Asset Management Company Ltd Rating ☆☆☆ Risk High Expense Ratio 2.55 Sharpe Ratio 1.58 Information Ratio 0.55 Alpha Ratio 10.78 Min Investment 5,000 Min SIP Investment 500 Exit Load 0-1 Years (1%),1 Years and above(NIL) Growth of 10,000 investment over the years.
Date Value 31 Mar 19 ₹10,000 31 Mar 20 ₹5,801 31 Mar 21 ₹10,101 31 Mar 22 ₹10,981 31 Mar 23 ₹11,832 31 Mar 24 ₹14,987 Returns for UTI Banking and Financial Services Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 24 Apr 24 Duration Returns 1 Month 4% 3 Month 3.5% 6 Month 15.4% 1 Year 25.6% 3 Year 16.3% 5 Year 9.4% 10 Year 15 Year Since launch 14.7% Historical performance (Yearly) on absolute basis
Year Returns 2023 19.5% 2022 15.1% 2021 14.3% 2020 -5.3% 2019 11.6% 2018 -6.8% 2017 43.5% 2016 13% 2015 -11.3% 2014 64% Fund Manager information for UTI Banking and Financial Services Fund
Name Since Tenure Preethi S 2 May 22 1.92 Yr. Data below for UTI Banking and Financial Services Fund as on 31 Mar 24
Equity Sector Allocation
Sector Value Financial Services 98.34% Technology 0.79% Asset Allocation
Asset Class Value Cash 0.46% Equity 99.13% Debt 0.41% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 30 Apr 04 | ICICIBANK17% ₹173 Cr 1,645,000
↓ -150,000 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Mar 09 | HDFCBANK14% ₹145 Cr 1,033,655
↑ 55,000 Axis Bank Ltd (Financial Services)
Equity, Since 30 Jun 18 | 5322156% ₹60 Cr 560,000 Bajaj Finance Ltd (Financial Services)
Equity, Since 30 Nov 19 | 5000345% ₹53 Cr 82,345 SBI Life Insurance Company Limited (Financial Services)
Equity, Since 30 Apr 20 | SBILIFE5% ₹52 Cr 333,225 Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 30 Sep 18 | KOTAKBANK4% ₹43 Cr 253,374 Shriram Finance Ltd (Financial Services)
Equity, Since 31 Jan 24 | SHRIRAMFIN4% ₹42 Cr 174,136
↑ 95,500 Karur Vysya Bank Ltd (Financial Services)
Equity, Since 31 Dec 18 | 5900034% ₹40 Cr 2,177,583 IndusInd Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | INDUSINDBK4% ₹39 Cr 263,468 Indian Bank (Financial Services)
Equity, Since 31 May 23 | 5328143% ₹35 Cr 670,843
↑ 50,000
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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