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Best Financial Mutual Funds 2023
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 23 - 24
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2022 (%) Aditya Birla Sun Life Banking And Financial Services Fund Growth ₹46.47
↑ 0.22 ₹2,860 9.9 20.4 21.4 26.6 8.4 11.5 ICICI Prudential Banking and Financial Services Fund Growth ₹97.57
↓ -0.04 ₹7,062 4.3 13.9 15.5 24.1 8.8 11.9 Invesco India Financial Services Fund Growth ₹88.73
↑ 0.18 ₹559 3.8 13.8 16.2 21.1 9.7 12.8 Sundaram Financial Services Opportunities Fund Growth ₹75.0498
↑ 0.15 ₹824 8.3 19.3 24.1 26.7 12.8 16.8 UTI Banking and Financial Services Fund Growth ₹135.53
↑ 0.35 ₹931 4 12.7 15.2 23.5 5.4 15.1 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 22 Aug 23
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 17.2% since its launch. Ranked 3 in Sectoral category. Return for 2022 was 11.5% , 2021 was 16.8% and 2020 was 1.1% . Aditya Birla Sun Life Banking And Financial Services Fund
Growth Launch Date 14 Dec 13 NAV (22 Aug 23) ₹46.47 ↑ 0.22 (0.48 %) Net Assets (Cr) ₹2,860 on 31 Jul 23 Category Equity - Sectoral AMC Birla Sun Life Asset Management Co Ltd Rating ☆☆☆☆☆ Risk High Expense Ratio 2.13 Sharpe Ratio 1.35 Information Ratio 0.65 Alpha Ratio 7.74 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 Aug 18 ₹10,000 31 Aug 19 ₹8,861 31 Aug 20 ₹7,819 31 Aug 21 ₹12,773 31 Aug 22 ₹12,934 31 Aug 23 ₹15,242 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 22 Aug 23 Duration Returns 1 Month -0.6% 3 Month 9.9% 6 Month 20.4% 1 Year 21.4% 3 Year 26.6% 5 Year 8.4% 10 Year 15 Year Since launch 17.2% Historical performance (Yearly) on absolute basis
Year Returns 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% 2013 Fund Manager information for Aditya Birla Sun Life Banking And Financial Services Fund
Name Since Tenure Dhaval Gala 26 Aug 15 8.02 Yr. Dhaval Joshi 21 Nov 22 0.78 Yr. Data below for Aditya Birla Sun Life Banking And Financial Services Fund as on 31 Jul 23
Equity Sector Allocation
Sector Value Financial Services 95.66% Technology 0.52% Asset Allocation
Asset Class Value Cash 2.37% Equity 97.63% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 13 | HDFCBANK17% ₹477 Cr 3,036,948
↑ 560,448 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 13 | ICICIBANK14% ₹395 Cr 4,115,975 Axis Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | 5322156% ₹165 Cr 1,699,645
↓ -200,000 Bajaj Finance Ltd (Financial Services)
Equity, Since 30 Sep 16 | 5000345% ₹150 Cr 209,611 Poonawalla Fincorp Ltd (Financial Services)
Equity, Since 31 May 21 | POONAWALLA5% ₹140 Cr 3,357,221 State Bank of India (Financial Services)
Equity, Since 31 Oct 17 | SBIN5% ₹132 Cr 2,351,492
↓ -700,000 Repco Home Finance Ltd (Financial Services)
Equity, Since 31 Dec 13 | 5353223% ₹94 Cr 2,428,460 Cholamandalam Financial Holdings Ltd Shs Dematerialised (Financial Services)
Equity, Since 31 Jan 20 | CHOLAHLDNG2% ₹66 Cr 667,972 The Federal Bank Ltd (Financial Services)
Equity, Since 31 Jan 21 | FEDERALBNK2% ₹64 Cr 4,475,678
↓ -932,932 Bandhan Bank Ltd (Financial Services)
Equity, Since 31 Jan 22 | BANDHANBNK2% ₹64 Cr 2,795,710 2. ICICI Prudential Banking and Financial Services Fund
CAGR/Annualized return of 16.4% since its launch. Return for 2022 was 11.9% , 2021 was 23.5% and 2020 was -5.5% . ICICI Prudential Banking and Financial Services Fund
Growth Launch Date 22 Aug 08 NAV (22 Aug 23) ₹97.57 ↓ -0.04 (-0.04 %) Net Assets (Cr) ₹7,062 on 31 Jul 23 Category Equity - Sectoral AMC ICICI Prudential Asset Management Company Limited Rating ☆☆☆☆☆ Risk High Expense Ratio 1.98 Sharpe Ratio 1.21 Information Ratio 0.31 Alpha Ratio 4.49 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 Aug 18 ₹10,000 31 Aug 19 ₹9,537 31 Aug 20 ₹8,333 31 Aug 21 ₹13,374 31 Aug 22 ₹13,652 31 Aug 23 ₹15,424 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 22 Aug 23 Duration Returns 1 Month -3.1% 3 Month 4.3% 6 Month 13.9% 1 Year 15.5% 3 Year 24.1% 5 Year 8.8% 10 Year 15 Year Since launch 16.4% Historical performance (Yearly) on absolute basis
Year Returns 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% 2013 -2.6% Fund Manager information for ICICI Prudential Banking and Financial Services Fund
Name Since Tenure Roshan Chutkey 29 Jan 18 5.59 Yr. Sharmila D’mello 30 Jun 22 1.17 Yr. Data below for ICICI Prudential Banking and Financial Services Fund as on 31 Jul 23
Equity Sector Allocation
Sector Value Financial Services 93.17% Asset Allocation
Asset Class Value Cash 6.41% Equity 93.59% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Oct 08 | HDFCBANK23% ₹1,647 Cr 9,976,904
↑ 1,829,419 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 08 | ICICIBANK17% ₹1,231 Cr 12,329,185 State Bank of India (Financial Services)
Equity, Since 31 Oct 08 | SBIN9% ₹632 Cr 10,194,805 Axis Bank Ltd (Financial Services)
Equity, Since 28 Feb 19 | 5322158% ₹597 Cr 6,260,641
↑ 321,250 ICICI Lombard General Insurance Co Ltd (Financial Services)
Equity, Since 30 Sep 19 | ICICIGI5% ₹337 Cr 2,429,342
↑ 61,000 Muthoot Finance Ltd (Financial Services)
Equity, Since 30 Apr 22 | 5333984% ₹286 Cr 2,115,647
↓ -3,505 Cholamandalam Financial Holdings Ltd Shs Dematerialised (Financial Services)
Equity, Since 31 Jul 19 | CHOLAHLDNG4% ₹277 Cr 2,836,669
↓ -63,388 SBI Life Insurance Company Limited (Financial Services)
Equity, Since 30 Sep 17 | SBILIFE4% ₹252 Cr 1,967,326
↓ -709,391 Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 31 Jan 23 | KOTAKBANK3% ₹244 Cr 1,315,864 SBI Cards and Payment Services Ltd Ordinary Shares (Financial Services)
Equity, Since 31 Oct 21 | SBICARD3% ₹237 Cr 2,770,643 3. Invesco India Financial Services Fund
CAGR/Annualized return of 15.5% since its launch. Ranked 5 in Sectoral category. Return for 2022 was 12.8% , 2021 was 14% and 2020 was 2.4% . Invesco India Financial Services Fund
Growth Launch Date 14 Jul 08 NAV (22 Aug 23) ₹88.73 ↑ 0.18 (0.20 %) Net Assets (Cr) ₹559 on 31 Jul 23 Category Equity - Sectoral AMC Invesco Asset Management (India) Private Ltd Rating ☆☆☆☆ Risk High Expense Ratio 2.53 Sharpe Ratio 1.17 Information Ratio -0.18 Alpha Ratio 4.34 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 Aug 18 ₹10,000 31 Aug 19 ₹9,810 31 Aug 20 ₹9,201 31 Aug 21 ₹14,148 31 Aug 22 ₹14,105 31 Aug 23 ₹16,060 Returns for Invesco India Financial Services Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 22 Aug 23 Duration Returns 1 Month -3.9% 3 Month 3.8% 6 Month 13.8% 1 Year 16.2% 3 Year 21.1% 5 Year 9.7% 10 Year 15 Year Since launch 15.5% Historical performance (Yearly) on absolute basis
Year Returns 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% 2013 -9.5% Fund Manager information for Invesco India Financial Services Fund
Name Since Tenure Dhimant Kothari 1 Jun 18 5.25 Yr. Hiten Jain 19 May 20 3.29 Yr. Data below for Invesco India Financial Services Fund as on 31 Jul 23
Equity Sector Allocation
Sector Value Financial Services 98.93% Asset Allocation
Asset Class Value Cash 1.07% Equity 98.93% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK19% ₹104 Cr 1,088,996 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jul 08 | HDFCBANK14% ₹75 Cr 476,003
↓ -84,958 Axis Bank Ltd (Financial Services)
Equity, Since 31 May 18 | 5322159% ₹49 Cr 498,894
↓ -13,763 State Bank of India (Financial Services)
Equity, Since 31 Aug 20 | SBIN8% ₹46 Cr 815,757 Bajaj Finance Ltd (Financial Services)
Equity, Since 30 Nov 21 | 5000347% ₹36 Cr 50,798 Equitas Small Finance Bank Ltd Ordinary Shares (Financial Services)
Equity, Since 31 Mar 23 | EQUITASBNK5% ₹28 Cr 3,117,216
↑ 164,804 Cholamandalam Investment and Finance Co Ltd (Financial Services)
Equity, Since 31 Jul 17 | CHOLAFIN4% ₹22 Cr 194,518 Angel One Ltd Ordinary Shares (Financial Services)
Equity, Since 30 Sep 20 | ANGELONE4% ₹21 Cr 110,718
↑ 3,001 SBI Life Insurance Company Limited (Financial Services)
Equity, Since 31 Mar 20 | SBILIFE3% ₹19 Cr 145,295 PB Fintech Ltd (Financial Services)
Equity, Since 30 Nov 21 | 5433903% ₹14 Cr 182,833 4. Sundaram Financial Services Opportunities Fund
CAGR/Annualized return of 14.2% since its launch. Ranked 23 in Sectoral category. Return for 2022 was 16.8% , 2021 was 15.3% and 2020 was 2.7% . Sundaram Financial Services Opportunities Fund
Growth Launch Date 10 Jun 08 NAV (22 Aug 23) ₹75.0498 ↑ 0.15 (0.20 %) Net Assets (Cr) ₹824 on 31 Jul 23 Category Equity - Sectoral AMC Sundaram Asset Management Company Ltd Rating ☆☆☆ Risk High Expense Ratio 2.52 Sharpe Ratio 1.59 Information Ratio 1.02 Alpha Ratio 9.91 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 Aug 18 ₹10,000 31 Aug 19 ₹10,098 31 Aug 20 ₹9,357 31 Aug 21 ₹14,605 31 Aug 22 ₹15,218 31 Aug 23 ₹18,458 Returns for Sundaram Financial Services Opportunities Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 22 Aug 23 Duration Returns 1 Month -0.6% 3 Month 8.3% 6 Month 19.3% 1 Year 24.1% 3 Year 26.7% 5 Year 12.8% 10 Year 15 Year Since launch 14.2% Historical performance (Yearly) on absolute basis
Year Returns 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% 2013 -12.4% Fund Manager information for Sundaram Financial Services Opportunities Fund
Name Since Tenure Rohit Seksaria 30 Dec 17 5.67 Yr. Ashish Aggarwal 1 Jan 22 1.66 Yr. Data below for Sundaram Financial Services Opportunities Fund as on 31 Jul 23
Equity Sector Allocation
Sector Value Financial Services 93.04% Asset Allocation
Asset Class Value Cash 4.86% Equity 95.14% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 08 | HDFCBANK20% ₹168 Cr 1,069,792
↑ 103,938 ICICI Bank Ltd (Financial Services)
Equity, Since 30 Jun 10 | ICICIBANK15% ₹125 Cr 1,301,901
↓ -328,672 State Bank of India (Financial Services)
Equity, Since 31 Dec 08 | SBIN7% ₹61 Cr 1,082,259
↓ -43,214 Axis Bank Ltd (Financial Services)
Equity, Since 28 Feb 10 | 5322157% ₹59 Cr 609,912 ICICI Securities Ltd (Financial Services)
Equity, Since 31 Aug 23 | ISEC4% ₹32 Cr 506,752
↑ 506,752 Cholamandalam Financial Holdings Ltd Shs Dematerialised (Financial Services)
Equity, Since 31 Aug 22 | CHOLAHLDNG3% ₹29 Cr 292,368
↑ 16,138 REC Ltd (Financial Services)
Equity, Since 30 Apr 23 | 5329553% ₹29 Cr 1,198,701
↓ -457,175 Power Finance Corp Ltd (Financial Services)
Equity, Since 31 Jan 23 | 5328103% ₹28 Cr 1,078,701
↑ 369,507 Equitas Small Finance Bank Ltd Ordinary Shares (Financial Services)
Equity, Since 28 Feb 23 | EQUITASBNK3% ₹27 Cr 2,941,195
↑ 431,241 IndusInd Bank Ltd (Financial Services)
Equity, Since 30 Jun 20 | INDUSINDBK3% ₹26 Cr 188,396 5. UTI Banking and Financial Services Fund
CAGR/Annualized return of 14.4% since its launch. Ranked 20 in Sectoral category. Return for 2022 was 15.1% , 2021 was 14.3% and 2020 was -5.3% . UTI Banking and Financial Services Fund
Growth Launch Date 7 Apr 04 NAV (22 Aug 23) ₹135.53 ↑ 0.35 (0.26 %) Net Assets (Cr) ₹931 on 31 Jul 23 Category Equity - Sectoral AMC UTI Asset Management Company Ltd Rating ☆☆☆ Risk High Expense Ratio 2.55 Sharpe Ratio 1.06 Information Ratio 0.35 Alpha Ratio 2.84 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 Aug 18 ₹10,000 31 Aug 19 ₹8,747 31 Aug 20 ₹7,247 31 Aug 21 ₹11,318 31 Aug 22 ₹11,719 31 Aug 23 ₹13,214 Returns for UTI Banking and Financial Services Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 22 Aug 23 Duration Returns 1 Month -3.4% 3 Month 4% 6 Month 12.7% 1 Year 15.2% 3 Year 23.5% 5 Year 5.4% 10 Year 15 Year Since launch 14.4% Historical performance (Yearly) on absolute basis
Year Returns 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% 2013 -13.5% Fund Manager information for UTI Banking and Financial Services Fund
Name Since Tenure Preethi S 2 May 22 1.33 Yr. Data below for UTI Banking and Financial Services Fund as on 31 Jul 23
Equity Sector Allocation
Sector Value Financial Services 95.9% Technology 1.34% Asset Allocation
Asset Class Value Cash 2.63% Equity 97.24% Debt 0.12% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Mar 09 | HDFCBANK19% ₹176 Cr 1,118,132 ICICI Bank Ltd (Financial Services)
Equity, Since 30 Apr 04 | ICICIBANK17% ₹155 Cr 1,619,784 Axis Bank Ltd (Financial Services)
Equity, Since 30 Jun 18 | 5322158% ₹74 Cr 760,000
↓ -50,000 State Bank of India (Financial Services)
Equity, Since 28 Feb 18 | SBIN4% ₹36 Cr 647,219 SBI Life Insurance Company Limited (Financial Services)
Equity, Since 30 Apr 20 | SBILIFE4% ₹36 Cr 275,595
↑ 29,000 IndusInd Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | INDUSINDBK4% ₹35 Cr 251,750 Bajaj Finance Ltd (Financial Services)
Equity, Since 30 Nov 19 | 5000344% ₹34 Cr 47,566
↑ 4,500 Max Financial Services Ltd (Financial Services)
Equity, Since 30 Sep 22 | 5002714% ₹33 Cr 353,458 Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 30 Sep 18 | KOTAKBANK3% ₹32 Cr 180,000 Karur Vysya Bank Ltd (Financial Services)
Equity, Since 31 Dec 18 | 5900033% ₹28 Cr 2,344,493
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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