DSP Banking & Financial Services Fund
The fund remains heavily concentrated in large-cap banks and non-bank financials, betting on steady earnings from traditional lending and insurance as interest rates stabilize. The manager trimmed volatility by raising cash and cutting ICICI Bank exposure while doubling down on shadow finance through Cholamandalam, signaling preference for lending diversification beyond pure banking. Recent exits from LIC and niche fintech suggest conviction in quality cyclical recovery over emerging payment platforms.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Regular Growth | ₹13.9520 | -1.09% | +6.98% | — | — |
Portfolio Metrics(latest month)
vs Category Peers
Highly DifferentiatedActive Share = ½Σ|wfund − wpeer|, computed using leave-one-out peer portfolio within SEBI category.
Similar Funds in Category
What Changed2026-03-31 → 2026-04-30
| Stock | Weight | |
|---|---|---|
| No new entries this month | ||
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | ICICI Bank Limited INE090A01021 | 8.46% |
| 2 | Axis Bank Limited INE238A01034 | 8.02% |
| 3 | Multi Commodity Exchange of India Limited INE745G01043 | 5.40% |
| 4 | State Bank of India INE062A01020 | 5.23% |
| 5 | Cholamandalam Investment and Finance Company Limited INE121A01024 | 5.22% |
| 6 | Shriram Finance Limited INE721A01047 | 4.74% |
| 7 | Kotak Mahindra Bank Limited INE237A01036 | 4.74% |
| 8 | Bajaj Finance Limited INE296A01032 | 4.70% |
| 9 | SBI Life Insurance Company Limited INE123W01016 | 4.29% |
| 10 | Ujjivan Small Finance Bank Limited INE551W01018 | 3.98% |
| 11 | HDFC Bank Limited INE040A01034 | 3.86% |
| 12 | City Union Bank Limited INE491A01021 | 3.84% |
| 13 | PB Fintech Limited INE417T01026 | 3.73% |
| 14 | Aditya Birla Capital Limited INE674K01013 | 3.66% |
| 15 | Canara HSBC Life Insurance Company Limited INE01TY01017 | 3.58% |
| 16 | Max Financial Services Limited INE180A01020 | 3.14% |
| 17 | Bank of Maharashtra INE457A01014 | 2.80% |
| 18 | Aadhar Housing Finance Limited INE883F01010 | 2.74% |
| 19 | TREPS / Reverse Repo Investments | 2.60% |
| 20 | PNB Housing Finance Limited INE572E01012 | 2.40% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does DSP Banking & Financial Services Fund hold?
DSP Banking & Financial Services Fund holds 30 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 32.33% of NAV.
What is the largest holding in DSP Banking & Financial Services Fund?
The largest position in DSP Banking & Financial Services Fund is ICICI Bank Limited, accounting for 8.46% of NAV in the Banks sector.
Is DSP Banking & Financial Services Fund a concentrated or diversified fund?
With a Gini coefficient of 0.375, DSP Banking & Financial Services Fund is well-diversified. The HHI concentration index is 43,874 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 32.33% of the portfolio.
What is the market cap allocation of DSP Banking & Financial Services Fund?
Based on SEBI's AMFI classification, DSP Banking & Financial Services Fund's equity portfolio is split as: Large Cap: 46.06%, Mid Cap: 15.73%, Small Cap: 21.52%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does DSP Banking & Financial Services Fund invest in most?
DSP Banking & Financial Services Fund has the highest allocation to Banks (43.49%), Finance (24.44%), Capital Markets (12.06%). The fund is invested across 5 sectors in total.
How actively managed is DSP Banking & Financial Services Fund compared to other Sectoral / Thematic funds?
DSP Banking & Financial Services Fund has an Active Share of 82.38%, classifying it as "Highly Differentiated" among 237 Sectoral / Thematic peers. This means the fund takes significantly different stock positions compared to its category peers.
What changed in DSP Banking & Financial Services Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, DSP Banking & Financial Services Fund exited 3 stocks (including Zaggle Prepaid Ocean Services Limited). Total holding count decreased from 35 to 32 stocks.