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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 ₹55.64
↓ -0.17 ₹3,278 6.7 12.7 19 15 15.1 21.7 ICICI Prudential Banking and Financial Services Fund Growth ₹119.73
↑ 0.18 ₹7,671 9.1 16.4 18.7 13.1 13.2 17.9 Invesco India Financial Services Fund Growth ₹122.84
↑ 0.34 ₹909 9.4 17.6 32.8 17.8 17.2 26 Sundaram Financial Services Opportunities Fund Growth ₹97.9322
↓ -0.12 ₹1,387 9.1 15 29.8 20.2 18.4 31.1 UTI Banking and Financial Services Fund Growth ₹168.735
↑ 0.03 ₹1,141 7.4 11.2 19.8 14.9 12.3 19.5 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 24 Jul 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 17.6% 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 Jul 24) ₹55.64 ↓ -0.17 (-0.30 %) Net Assets (Cr) ₹3,278 on 30 Jun 24 Category Equity - Sectoral AMC Birla Sun Life Asset Management Co Ltd Rating ☆☆☆☆☆ Risk High Expense Ratio 2.13 Sharpe Ratio 1.22 Information Ratio 0.4 Alpha Ratio 7.88 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 30 Jun 19 ₹10,000 30 Jun 20 ₹7,112 30 Jun 21 ₹11,944 30 Jun 22 ₹10,941 30 Jun 23 ₹14,952 30 Jun 24 ₹18,664 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 Jul 24 Duration Returns 1 Month 0.9% 3 Month 6.7% 6 Month 12.7% 1 Year 19% 3 Year 15% 5 Year 15.1% 10 Year 15 Year Since launch 17.6% 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 8.85 Yr. Dhaval Joshi 21 Nov 22 1.61 Yr. Data below for Aditya Birla Sun Life Banking And Financial Services Fund as on 30 Jun 24
Equity Sector Allocation
Sector Value Financial Services 95.95% Technology 2.78% Asset Allocation
Asset Class Value Cash 1.27% Equity 98.73% Other 0% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 13 | ICICIBANK18% ₹599 Cr 4,993,129 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 13 | HDFCBANK18% ₹579 Cr 3,436,948 Axis Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | AXISBANK8% ₹256 Cr 2,027,100 State Bank of India (Financial Services)
Equity, Since 31 Oct 17 | SBIN6% ₹200 Cr 2,351,492 Bajaj Finance Ltd (Financial Services)
Equity, Since 30 Sep 16 | BAJFINANCE5% ₹166 Cr 233,725 Shriram Finance Ltd (Financial Services)
Equity, Since 30 Jun 23 | SHRIRAMFIN4% ₹126 Cr 433,066
↓ -25,000 Repco Home Finance Ltd (Financial Services)
Equity, Since 31 Dec 13 | REPCOHOME4% ₹115 Cr 2,095,955 Poonawalla Fincorp Ltd (Financial Services)
Equity, Since 31 May 21 | POONAWALLA3% ₹99 Cr 2,422,221 AU Small Finance Bank Ltd (Financial Services)
Equity, Since 30 Nov 23 | AUBANK3% ₹97 Cr 1,446,861 Cholamandalam Financial Holdings Ltd (Financial Services)
Equity, Since 31 Jan 20 | CHOLAHLDNG3% ₹97 Cr 667,972 2. ICICI Prudential Banking and Financial Services Fund
CAGR/Annualized return of 16.9% 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 Jul 24) ₹119.73 ↑ 0.18 (0.15 %) Net Assets (Cr) ₹7,671 on 30 Jun 24 Category Equity - Sectoral AMC ICICI Prudential Asset Management Company Limited Rating ☆☆☆☆☆ Risk High Expense Ratio 1.98 Sharpe Ratio 1.15 Information Ratio 0.09 Alpha Ratio 4.88 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 30 Jun 19 ₹10,000 30 Jun 20 ₹6,846 30 Jun 21 ₹11,699 30 Jun 22 ₹10,908 30 Jun 23 ₹14,291 30 Jun 24 ₹17,351 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 Jul 24 Duration Returns 1 Month 2.3% 3 Month 9.1% 6 Month 16.4% 1 Year 18.7% 3 Year 13.1% 5 Year 13.2% 10 Year 15 Year Since launch 16.9% 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 6.42 Yr. Sharmila D’mello 30 Jun 22 2.01 Yr. Data below for ICICI Prudential Banking and Financial Services Fund as on 30 Jun 24
Equity Sector Allocation
Sector Value Financial Services 97.22% Industrials 0.7% Technology 0.23% Asset Allocation
Asset Class Value Cash 1.85% Equity 98.15% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Oct 08 | HDFCBANK26% ₹2,008 Cr 11,924,875
↑ 1,302,165 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 08 | ICICIBANK20% ₹1,548 Cr 12,906,483 Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 31 Jan 23 | KOTAKBANK7% ₹530 Cr 2,942,214
↓ -100,377 Axis Bank Ltd (Financial Services)
Equity, Since 28 Feb 19 | AXISBANK6% ₹466 Cr 3,681,651 SBI Life Insurance Company Limited (Financial Services)
Equity, Since 30 Sep 17 | SBILIFE5% ₹395 Cr 2,645,807 HDFC Life Insurance Company Limited (Financial Services)
Equity, Since 30 Sep 23 | HDFCLIFE4% ₹296 Cr 4,976,823
↓ -487,300 State Bank of India (Financial Services)
Equity, Since 31 Oct 08 | SBIN3% ₹233 Cr 2,743,541 SBI Cards and Payment Services Ltd Ordinary Shares (Financial Services)
Equity, Since 31 Oct 21 | SBICARD3% ₹217 Cr 3,001,575 ICICI Lombard General Insurance Co Ltd (Financial Services)
Equity, Since 30 Sep 19 | ICICIGI3% ₹215 Cr 1,199,865
↑ 19,192 Bajaj Finance Ltd (Financial Services)
Equity, Since 30 Nov 23 | BAJFINANCE2% ₹175 Cr 245,308
↓ -75,000 3. Invesco India Financial Services Fund
CAGR/Annualized return of 16.9% 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 Jul 24) ₹122.84 ↑ 0.34 (0.28 %) Net Assets (Cr) ₹909 on 30 Jun 24 Category Equity - Sectoral AMC Invesco Asset Management (India) Private Ltd Rating ☆☆☆☆ Risk High Expense Ratio 2.53 Sharpe Ratio 2.12 Information Ratio 0.71 Alpha Ratio 17.98 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 30 Jun 19 ₹10,000 30 Jun 20 ₹7,936 30 Jun 21 ₹12,234 30 Jun 22 ₹11,135 30 Jun 23 ₹15,079 30 Jun 24 ₹20,410 Returns for Invesco India Financial Services Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 24 Jul 24 Duration Returns 1 Month 2.9% 3 Month 9.4% 6 Month 17.6% 1 Year 32.8% 3 Year 17.8% 5 Year 17.2% 10 Year 15 Year Since launch 16.9% 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 6.09 Yr. Hiten Jain 19 May 20 4.12 Yr. Data below for Invesco India Financial Services Fund as on 30 Jun 24
Equity Sector Allocation
Sector Value Financial Services 91.38% Technology 3.69% Health Care 1.79% Asset Allocation
Asset Class Value Cash 3.15% Equity 96.85% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK21% ₹188 Cr 1,564,173
↑ 41,238 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jul 08 | HDFCBANK10% ₹89 Cr 528,809
↑ 180,530 Axis Bank Ltd (Financial Services)
Equity, Since 31 May 18 | AXISBANK9% ₹82 Cr 645,964
↑ 17,744 State Bank of India (Financial Services)
Equity, Since 31 Aug 20 | SBIN8% ₹71 Cr 838,841 Computer Age Management Services Ltd Ordinary Shares (Technology)
Equity, Since 30 Sep 23 | CAMS4% ₹34 Cr 92,836
↑ 12,431 Cholamandalam Investment and Finance Co Ltd (Financial Services)
Equity, Since 31 Jul 17 | CHOLAFIN4% ₹32 Cr 226,548 Equitas Small Finance Bank Ltd Ordinary Shares (Financial Services)
Equity, Since 31 Mar 23 | EQUITASBNK3% ₹30 Cr 3,117,216 PB Fintech Ltd (Financial Services)
Equity, Since 30 Nov 21 | 5433903% ₹28 Cr 202,762 SBI Life Insurance Company Limited (Financial Services)
Equity, Since 31 Mar 20 | SBILIFE3% ₹28 Cr 185,174 REC Ltd (Financial Services)
Equity, Since 31 Aug 23 | RECLTD3% ₹27 Cr 522,276 4. Sundaram Financial Services Opportunities Fund
CAGR/Annualized return of 15.2% 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 Jul 24) ₹97.9322 ↓ -0.12 (-0.12 %) Net Assets (Cr) ₹1,387 on 30 Jun 24 Category Equity - Sectoral AMC Sundaram Asset Management Company Ltd Rating ☆☆☆ Risk High Expense Ratio 2.52 Sharpe Ratio 1.99 Information Ratio 1.48 Alpha Ratio 16 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 30 Jun 19 ₹10,000 30 Jun 20 ₹7,886 30 Jun 21 ₹12,534 30 Jun 22 ₹11,818 30 Jun 23 ₹16,469 30 Jun 24 ₹22,240 Returns for Sundaram Financial Services Opportunities Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 24 Jul 24 Duration Returns 1 Month 0.6% 3 Month 9.1% 6 Month 15% 1 Year 29.8% 3 Year 20.2% 5 Year 18.4% 10 Year 15 Year Since launch 15.2% 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 6.5 Yr. Ashish Aggarwal 1 Jan 22 2.5 Yr. Data below for Sundaram Financial Services Opportunities Fund as on 30 Jun 24
Equity Sector Allocation
Sector Value Financial Services 96.37% Asset Allocation
Asset Class Value Cash 3.78% Equity 95.87% Debt 0.35% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 08 | HDFCBANK17% ₹239 Cr 1,420,094
↑ 120,790 ICICI Bank Ltd (Financial Services)
Equity, Since 30 Jun 10 | ICICIBANK11% ₹154 Cr 1,284,506
↓ -483,482 Axis Bank Ltd (Financial Services)
Equity, Since 28 Feb 10 | AXISBANK9% ₹128 Cr 1,012,094 State Bank of India (Financial Services)
Equity, Since 31 Dec 08 | SBIN6% ₹82 Cr 965,673 Cholamandalam Financial Holdings Ltd (Financial Services)
Equity, Since 31 Aug 22 | CHOLAHLDNG5% ₹64 Cr 440,354 ICICI Securities Ltd (Financial Services)
Equity, Since 30 Jun 24 | ISEC4% ₹60 Cr 789,452
↑ 789,452 Shriram Finance Ltd (Financial Services)
Equity, Since 30 Sep 23 | SHRIRAMFIN4% ₹55 Cr 188,623
↑ 10,449 CSB Bank Ltd Ordinary Shares (Financial Services)
Equity, Since 30 Jun 20 | CSBBANK4% ₹53 Cr 1,400,089
↑ 447,789 Can Fin Homes Ltd (Financial Services)
Equity, Since 31 Jul 23 | CANFINHOME4% ₹51 Cr 556,717
↓ -37,776 IndusInd Bank Ltd (Financial Services)
Equity, Since 30 Jun 20 | INDUSINDBK4% ₹51 Cr 347,541
↑ 107,055 5. UTI Banking and Financial Services Fund
CAGR/Annualized return of 14.9% 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 Jul 24) ₹168.735 ↑ 0.03 (0.02 %) Net Assets (Cr) ₹1,141 on 30 Jun 24 Category Equity - Sectoral AMC UTI Asset Management Company Ltd Rating ☆☆☆ Risk High Expense Ratio 2.55 Sharpe Ratio 1.21 Information Ratio 0.38 Alpha Ratio 7.67 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 30 Jun 19 ₹10,000 30 Jun 20 ₹6,666 30 Jun 21 ₹10,782 30 Jun 22 ₹9,974 30 Jun 23 ₹13,425 30 Jun 24 ₹16,691 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 Jul 24 Duration Returns 1 Month 0.1% 3 Month 7.4% 6 Month 11.2% 1 Year 19.8% 3 Year 14.9% 5 Year 12.3% 10 Year 15 Year Since launch 14.9% 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 2.17 Yr. Data below for UTI Banking and Financial Services Fund as on 30 Jun 24
Equity Sector Allocation
Sector Value Financial Services 97.83% Technology 1.59% Asset Allocation
Asset Class Value Cash 0.21% Equity 99.42% Debt 0.38% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Mar 09 | HDFCBANK21% ₹241 Cr 1,433,655
↑ 400,000 ICICI Bank Ltd (Financial Services)
Equity, Since 30 Apr 04 | ICICIBANK14% ₹155 Cr 1,295,000
↓ -200,000 Axis Bank Ltd (Financial Services)
Equity, Since 30 Jun 18 | AXISBANK8% ₹90 Cr 710,000 Bajaj Finance Ltd (Financial Services)
Equity, Since 30 Nov 19 | BAJFINANCE6% ₹67 Cr 94,271 Shriram Finance Ltd (Financial Services)
Equity, Since 31 Jan 24 | SHRIRAMFIN4% ₹51 Cr 174,136 State Bank of India (Financial Services)
Equity, Since 28 Feb 18 | SBIN4% ₹41 Cr 480,000 Indian Bank (Financial Services)
Equity, Since 31 May 23 | INDIANB3% ₹38 Cr 690,843
↑ 20,000 Karur Vysya Bank Ltd (Financial Services)
Equity, Since 31 Dec 18 | KARURVYSYA3% ₹37 Cr 1,809,825
↑ 100,000 REC Ltd (Financial Services)
Equity, Since 30 Nov 23 | RECLTD3% ₹36 Cr 682,000
↑ 72,000 India Shelter Finance Corporation Ltd (Financial Services)
Equity, Since 31 Dec 23 | 5440443% ₹33 Cr 469,617
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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