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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 (%) ICICI Prudential Banking and Financial Services Fund Growth ₹84.74
↑ 0.76 ₹5,871 -7.4 2 6.4 26.7 8.2 11.9 Aditya Birla Sun Life Banking And Financial Services Fund Growth ₹37.86
↑ 0.47 ₹2,385 -8.8 0.9 4.4 24.9 7.5 11.5 Invesco India Financial Services Fund Growth ₹77.97
↑ 1.01 ₹473 -7.4 4.1 5.5 21.7 9.1 12.8 Sundaram Financial Services Opportunities Fund Growth ₹62.7822
↑ 0.62 ₹602 -6.7 6.2 10.2 25 11.1 16.8 UTI Banking and Financial Services Fund Growth ₹119.095
↑ 1.22 ₹824 -7.7 3.2 7.8 24.6 5.2 15.1 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 29 Mar 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.
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 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 (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. ICICI Prudential Banking and Financial Services Fund
CAGR/Annualized return of 15.8% 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 (29 Mar 23) ₹84.74 ↑ 0.76 (0.90 %) Net Assets (Cr) ₹5,871 on 28 Feb 23 Category Equity - Sectoral AMC ICICI Prudential Asset Management Company Limited Rating ☆☆☆☆☆ Risk High Expense Ratio 2.05 Sharpe Ratio 0.23 Information Ratio -0.06 Alpha Ratio 1.05 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 28 Feb 18 ₹10,000 28 Feb 19 ₹9,930 29 Feb 20 ₹11,066 28 Feb 21 ₹12,725 28 Feb 22 ₹13,600 28 Feb 23 ₹14,701 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 29 Mar 23 Duration Returns 1 Month -1.6% 3 Month -7.4% 6 Month 2% 1 Year 6.4% 3 Year 26.7% 5 Year 8.2% 10 Year 15 Year Since launch 15.8% 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 5.09 Yr. Sharmila D’mello 30 Jun 22 0.67 Yr. Data below for ICICI Prudential Banking and Financial Services Fund as on 28 Feb 23
Equity Sector Allocation
Sector Value Financial Services 94.21% Asset Allocation
Asset Class Value Cash 4.85% Equity 95.15% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Oct 08 | HDFCBANK17% ₹1,013 Cr 6,331,560
↑ 285,045 ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 08 | ICICIBANK17% ₹1,009 Cr 11,803,996
↑ 75,177 Axis Bank Ltd (Financial Services)
Equity, Since 28 Feb 19 | 5322159% ₹501 Cr 5,939,391
↑ 287,810 State Bank of India (Financial Services)
Equity, Since 31 Oct 08 | SBIN8% ₹488 Cr 9,325,815
↑ 1,242,621 SBI Life Insurance Company Limited (Financial Services)
Equity, Since 30 Sep 17 | SBILIFE6% ₹335 Cr 2,991,019
↑ 457,046 ICICI Lombard General Insurance Co Ltd (Financial Services)
Equity, Since 30 Sep 19 | ICICIGI4% ₹261 Cr 2,368,342 Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 31 Jan 23 | KOTAKBANK4% ₹247 Cr 1,426,434
↑ 113,430 Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Mar 21 | HDFC4% ₹236 Cr 904,511
↑ 54,097 SBI Cards and Payment Services Ltd Ordinary Shares (Financial Services)
Equity, Since 31 Oct 21 | SBICARD4% ₹208 Cr 2,770,643 Cholamandalam Financial Holdings Ltd (Financial Services)
Equity, Since 31 Jul 19 | CHOLAHLDNG3% ₹169 Cr 2,938,274 2. Aditya Birla Sun Life Banking And Financial Services Fund
CAGR/Annualized return of 15.4% 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 (29 Mar 23) ₹37.86 ↑ 0.47 (1.26 %) Net Assets (Cr) ₹2,385 on 28 Feb 23 Category Equity - Sectoral AMC Birla Sun Life Asset Management Co Ltd Rating ☆☆☆☆☆ Risk High Expense Ratio 2.21 Sharpe Ratio 0.14 Information Ratio -0.07 Alpha Ratio -0.48 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 28 Feb 18 ₹10,000 28 Feb 19 ₹9,723 29 Feb 20 ₹10,854 28 Feb 21 ₹12,737 28 Feb 22 ₹13,587 28 Feb 23 ₹14,466 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 29 Mar 23 Duration Returns 1 Month -2% 3 Month -8.8% 6 Month 0.9% 1 Year 4.4% 3 Year 24.9% 5 Year 7.5% 10 Year 15 Year Since launch 15.4% 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 7.52 Yr. Vinod Bhat 26 May 22 0.76 Yr. Data below for Aditya Birla Sun Life Banking And Financial Services Fund as on 28 Feb 23
Equity Sector Allocation
Sector Value Financial Services 94.64% Technology 0.68% Asset Allocation
Asset Class Value Cash 2.8% Equity 97.2% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 Dec 13 | ICICIBANK16% ₹386 Cr 4,515,975
↑ 300,000 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 13 | HDFCBANK12% ₹292 Cr 1,822,403 Axis Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | 5322158% ₹192 Cr 2,272,499 State Bank of India (Financial Services)
Equity, Since 31 Oct 17 | SBIN7% ₹165 Cr 3,151,492 Bajaj Finance Ltd (Financial Services)
Equity, Since 30 Sep 16 | 5000345% ₹128 Cr 209,611 Bank of Baroda (Financial Services)
Equity, Since 31 Mar 21 | 5321344% ₹98 Cr 6,147,307 Poonawalla Fincorp Ltd (Financial Services)
Equity, Since 31 May 21 | POONAWALLA4% ₹87 Cr 3,000,000 Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Aug 19 | HDFC4% ₹84 Cr 323,254 Bandhan Bank Ltd (Financial Services)
Equity, Since 31 Jan 22 | 5411533% ₹69 Cr 2,995,709 Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 31 Jan 19 | KOTAKBANK3% ₹67 Cr 386,891 3. Invesco India Financial Services Fund
CAGR/Annualized return of 15% 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 (29 Mar 23) ₹77.97 ↑ 1.01 (1.31 %) Net Assets (Cr) ₹473 on 28 Feb 23 Category Equity - Sectoral AMC Invesco Asset Management (India) Private Ltd Rating ☆☆☆☆ Risk High Expense Ratio 2.59 Sharpe Ratio 0.19 Information Ratio -0.2 Alpha Ratio 0.63 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 28 Feb 18 ₹10,000 28 Feb 19 ₹9,876 29 Feb 20 ₹11,685 28 Feb 21 ₹13,462 28 Feb 22 ₹14,181 28 Feb 23 ₹15,268 Returns for Invesco India Financial Services Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 29 Mar 23 Duration Returns 1 Month -0.8% 3 Month -7.4% 6 Month 4.1% 1 Year 5.5% 3 Year 21.7% 5 Year 9.1% 10 Year 15 Year Since launch 15% 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 4.75 Yr. Hiten Jain 19 May 20 2.78 Yr. Data below for Invesco India Financial Services Fund as on 28 Feb 23
Equity Sector Allocation
Sector Value Financial Services 93.59% Asset Allocation
Asset Class Value Cash 2.61% Equity 97.39% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK19% ₹91 Cr 1,061,403 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Jul 08 | HDFCBANK17% ₹82 Cr 514,751 Axis Bank Ltd (Financial Services)
Equity, Since 31 May 18 | 53221510% ₹46 Cr 547,384 State Bank of India (Financial Services)
Equity, Since 31 Aug 20 | SBIN8% ₹39 Cr 744,891 Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 28 Feb 17 | KOTAKBANK4% ₹20 Cr 115,035 Bajaj Finance Ltd (Financial Services)
Equity, Since 30 Nov 21 | 5000344% ₹18 Cr 29,822 Equitas Small Finance Bank Limited - Corporate Action
Equity, Since 28 Feb 23 | -4% ₹18 Cr 2,649,810
↑ 2,649,810 Cholamandalam Investment and Finance Co Ltd (Financial Services)
Equity, Since 31 Jul 17 | CHOLAFIN3% ₹15 Cr 194,518 SBI Life Insurance Company Limited (Financial Services)
Equity, Since 31 Mar 20 | SBILIFE3% ₹14 Cr 124,906 Karur Vysya Bank Ltd (Financial Services)
Equity, Since 30 Sep 22 | 5900033% ₹13 Cr 1,230,056 4. Sundaram Financial Services Opportunities Fund
CAGR/Annualized return of 13.2% 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 (29 Mar 23) ₹62.7822 ↑ 0.62 (1.00 %) Net Assets (Cr) ₹602 on 28 Feb 23 Category Equity - Sectoral AMC Sundaram Asset Management Company Ltd Rating ☆☆☆ Risk High Expense Ratio 2.63 Sharpe Ratio 0.38 Information Ratio 0.39 Alpha Ratio 3.96 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 28 Feb 18 ₹10,000 28 Feb 19 ₹9,548 29 Feb 20 ₹11,687 28 Feb 21 ₹14,054 28 Feb 22 ₹14,713 28 Feb 23 ₹16,386 Returns for Sundaram Financial Services Opportunities Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 29 Mar 23 Duration Returns 1 Month -0.7% 3 Month -6.7% 6 Month 6.2% 1 Year 10.2% 3 Year 25% 5 Year 11.1% 10 Year 15 Year Since launch 13.2% 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 5.17 Yr. Ashish Aggarwal 1 Jan 22 1.16 Yr. Data below for Sundaram Financial Services Opportunities Fund as on 28 Feb 23
Equity Sector Allocation
Sector Value Financial Services 90.62% Asset Allocation
Asset Class Value Cash 8.16% Equity 91.84% Top Securities Holdings / Portfolio
Name Holding Value Quantity ICICI Bank Ltd (Financial Services)
Equity, Since 30 Jun 10 | ICICIBANK20% ₹118 Cr 1,381,374 HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 08 | HDFCBANK16% ₹95 Cr 593,367
↓ -59,611 State Bank of India (Financial Services)
Equity, Since 31 Dec 08 | SBIN9% ₹52 Cr 1,000,293 Axis Bank Ltd (Financial Services)
Equity, Since 28 Feb 10 | 5322159% ₹52 Cr 613,557 Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 Jul 18 | HDFC8% ₹46 Cr 176,077
↑ 22,593 Canara Bank (Financial Services)
Equity, Since 31 May 22 | 5324833% ₹19 Cr 686,458 Bank of Baroda (Financial Services)
Equity, Since 28 Feb 22 | 5321343% ₹18 Cr 1,122,364
↑ 220,963 IndusInd Bank Ltd (Financial Services)
Equity, Since 30 Jun 20 | INDUSINDBK3% ₹15 Cr 143,511 Equitas Small Finance Bank Ltd Ordinary Shares (Financial Services)
Equity, Since 28 Feb 23 | EQUITASBNK2% ₹15 Cr 2,094,384
↑ 2,094,384 SBI Life Insurance Company Limited (Financial Services)
Equity, Since 30 Sep 17 | SBILIFE2% ₹13 Cr 115,413 5. UTI Banking and Financial Services Fund
CAGR/Annualized return of 13.9% 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 (29 Mar 23) ₹119.095 ↑ 1.22 (1.04 %) Net Assets (Cr) ₹824 on 28 Feb 23 Category Equity - Sectoral AMC UTI Asset Management Company Ltd Rating ☆☆☆ Risk High Expense Ratio 2.6 Sharpe Ratio 0.27 Information Ratio -0.31 Alpha Ratio 1.93 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 28 Feb 18 ₹10,000 28 Feb 19 ₹9,465 29 Feb 20 ₹9,897 28 Feb 21 ₹11,269 28 Feb 22 ₹11,701 28 Feb 23 ₹12,771 Returns for UTI Banking and Financial Services Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 29 Mar 23 Duration Returns 1 Month -1.6% 3 Month -7.7% 6 Month 3.2% 1 Year 7.8% 3 Year 24.6% 5 Year 5.2% 10 Year 15 Year Since launch 13.9% 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 Amit Premchandani 2 Jun 14 8.75 Yr. Preethi S 2 May 22 0.83 Yr. Data below for UTI Banking and Financial Services Fund as on 28 Feb 23
Equity Sector Allocation
Sector Value Financial Services 96.39% Technology 0.98% Asset Allocation
Asset Class Value Cash 2.5% Equity 97.36% Debt 0.14% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Mar 09 | HDFCBANK20% ₹163 Cr 1,020,000 ICICI Bank Ltd (Financial Services)
Equity, Since 30 Apr 04 | ICICIBANK18% ₹149 Cr 1,738,427 Axis Bank Ltd (Financial Services)
Equity, Since 30 Jun 18 | 5322159% ₹75 Cr 890,000 State Bank of India (Financial Services)
Equity, Since 28 Feb 18 | SBIN7% ₹61 Cr 1,175,000
↓ -125,000 Housing Development Finance Corp Ltd (Financial Services)
Equity, Since 31 May 18 | HDFC7% ₹55 Cr 210,000 Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 30 Sep 18 | KOTAKBANK4% ₹31 Cr 180,000 SBI Life Insurance Company Limited (Financial Services)
Equity, Since 30 Apr 20 | SBILIFE3% ₹28 Cr 246,595 Bajaj Finance Ltd (Financial Services)
Equity, Since 30 Nov 19 | 5000343% ₹26 Cr 43,066 IndusInd Bank Ltd (Financial Services)
Equity, Since 31 Oct 18 | INDUSINDBK3% ₹23 Cr 210,000 Karur Vysya Bank Ltd (Financial Services)
Equity, Since 31 Dec 18 | 5900032% ₹20 Cr 1,944,493
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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