LIC MF Banking & Financial Services Fund
This portfolio is heavily concentrated on India's banking oligopoly, with the top three lenders commanding over a third of assets and the entire sector representing 55 percent of holdings. The manager has doubled down on systemic banks while trimming receivables exposure, signaling confidence in near-term lending momentum and deposit stability despite macroeconomic headwinds. The modest cash buffer combined with tight top-ten concentration suggests the manager believes traditional banking fundamentals will outpace broader market returns.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Direct Growth | ₹23.5366 | — | — | — | — |
| Regular Growth | ₹20.6363 | -2.55% | +0.68% | +8.65% | +11.07% |
| Direct IDCW | ₹23.3735 | — | — | — | — |
| Regular IDCW | ₹20.6327 | — | — | — | — |
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 | HDFC Bank Ltd. INE040A01034 | 15.24% |
| 2 | ICICI Bank Ltd. INE090A01021 | 12.25% |
| 3 | Axis Bank Ltd. INE238A01034 | 8.19% |
| 4 | Kotak Mahindra Bank Ltd. INE237A01036 | 7.60% |
| 5 | Treps | 5.70% |
| 6 | State Bank of India INE062A01020 | 5.69% |
| 7 | MAS Financial Services Ltd. INE348L01012 | 5.09% |
| 8 | SBI Cards & Payment Services Ltd. INE018E01016 | 2.83% |
| 9 | Creditaccess Grameen Ltd. INE741K01010 | 2.70% |
| 10 | Bajaj Finance Ltd. INE296A01032 | 2.44% |
| 11 | TVS Holdings Ltd. INE105A01035 | 2.19% |
| 12 | IIFL Finance Ltd. INE530B01024 | 2.18% |
| 13 | Motilal Oswal Financial Services Ltd. INE338I01027 | 2.11% |
| 14 | Ujjivan Small Finance Bank Ltd. INE551W01018 | 1.95% |
| 15 | DCB Bank Ltd. INE503A01015 | 1.89% |
| 16 | Power Finance Corporation Ltd. INE134E01011 | 1.79% |
| 17 | Shriram Finance Ltd. INE721A01047 | 1.71% |
| 18 | Aadhar Housing Finance Ltd. INE883F01010 | 1.70% |
| 19 | 360 One Wam Ltd. INE466L01038 | 1.63% |
| 20 | CRISIL Ltd. INE007A01025 | 1.51% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does LIC MF Banking & Financial Services Fund hold?
LIC MF Banking & Financial Services Fund holds 36 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 48.97% of NAV.
What is the largest holding in LIC MF Banking & Financial Services Fund?
The largest position in LIC MF Banking & Financial Services Fund is HDFC Bank Ltd., accounting for 15.24% of NAV in the Banks sector.
Is LIC MF Banking & Financial Services Fund a concentrated or diversified fund?
With a Gini coefficient of 0.536, LIC MF Banking & Financial Services Fund is moderately concentrated. The HHI concentration index is 63,579 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 48.97% of the portfolio.
What is the market cap allocation of LIC MF Banking & Financial Services Fund?
Based on SEBI's AMFI classification, LIC MF Banking & Financial Services Fund's equity portfolio is split as: Large Cap: 48.25%, Mid Cap: 14.46%, Small Cap: 22.80%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does LIC MF Banking & Financial Services Fund invest in most?
LIC MF Banking & Financial Services Fund has the highest allocation to Banks (55.27%), Finance (27.78%), Capital Markets (8.19%). The fund is invested across 5 sectors in total.
How actively managed is LIC MF Banking & Financial Services Fund compared to other Sectoral / Thematic funds?
LIC MF Banking & Financial Services Fund has an Active Share of 81.46%, classifying it as "Highly Differentiated" among 237 Sectoral / Thematic peers. This means the fund takes significantly different stock positions compared to its category peers.