LIC MF Banking & Financial Services Fund
LIC Mutual Fund·Sectoral / Thematic·vs Nifty 500 TRI
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 | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Direct Growth | ₹23.3094 | — | — | — | — | — | — |
| Regular Growth | ₹20.4378 | -2.09% | -8.37% | -8.07% | +1.22% | +8.59% | +10.85% |
| Direct IDCW | ₹23.1480 | — | — | — | — | — | — |
| Regular IDCW | ₹20.4343 | — | — | — | — | — | — |
Returns above 1Y are CAGR. Direct plan rows highlighted. NAV from AMFI.
Portfolio Metrics(latest month)
Holdings
36
Top 5 Weight
48.97%
Top 10 Weight
64.22%
Active Share
—
Large Cap
48.25%
Gini
0.536
What Changed2026-03-31 → 2026-04-30
Holdings: 38 → 38+0 added−0 removed15 weight shifts ≥ 0.1%
| 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
Banks55.3%
Finance27.8%
Capital Markets8.2%
Financial Technology (Fintech)1.8%
Insurance1.4%
Top 10 sectors by % to NAV. Excludes derivatives.