Mirae Asset Banking and Financial Services Fund
Mirae Asset Mutual Fund·Sectoral / Thematic·vs Nifty 500 TRI
The fund maintains a heavily concentrated bet on large-cap banking, with four systemically important banks accounting for nearly half the portfolio. The manager's conviction in this thesis remains firm, evidenced by minimal portfolio turnover and a negligible cash buffer, suggesting confidence that rate cycles and credit growth will reward this positioning. The slight reduction in TREPS and addition of BSE signals a modest shift toward direct market exposure over money market instruments, hinting optimism about equity valuations ahead.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Primary | ₹20.1810 | -3.46% | -9.40% | -6.91% | +1.84% | +13.24% | +13.33% |
Returns above 1Y are CAGR. Direct plan rows highlighted. NAV from AMFI.
Portfolio Metrics(latest month)
Holdings
32
Top 5 Weight
50.87%
Top 10 Weight
65.53%
Active Share
—
Large Cap
58.18%
Gini
0.485
What Changed2026-03-31 → 2026-04-30
Holdings: 34 → 34+1 added−1 removed20 weight shifts ≥ 0.1%
| Stock | Weight |
|---|---|
| BSE Ltd. | 1.00% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | HDFC Bank Ltd. INE040A01034 | 15.88% |
| 2 | ICICI Bank Ltd. INE090A01021 | 13.16% |
| 3 | State Bank of India INE062A01020 | 9.70% |
| 4 | Axis Bank Ltd. INE238A01034 | 8.32% |
| 5 | Kotak Mahindra Bank Ltd. INE237A01036 | 3.82% |
| 6 | TREPS | 3.45% |
| 7 | SBI Life Insurance Co. Ltd. INE123W01016 | 3.32% |
| 8 | Bajaj Finance Ltd. INE296A01032 | 3.30% |
| 9 | The Federal Bank Ltd. INE171A01029 | 2.80% |
| 10 | Aditya Birla Capital Ltd. INE674K01013 | 2.69% |
| 11 | L&T Finance Ltd. INE498L01015 | 2.55% |
| 12 | Karur Vysya Bank Ltd. INE036D01028 | 2.40% |
| 13 | Canara HSBC Life Insurance Co.Ltd. INE01TY01017 | 2.05% |
| 14 | Shriram Finance Ltd. INE721A01047 | 2.03% |
| 15 | HDB Financial Services Ltd. INE756I01012 | 1.93% |
| 16 | Multi Commodity Exchange of India Ltd. INE745G01043 | 1.90% |
| 17 | DCB Bank Ltd. INE503A01015 | 1.62% |
| 18 | PB Fintech Ltd. INE417T01026 | 1.57% |
| 19 | Kfin Technologies Ltd. INE138Y01010 | 1.55% |
| 20 | GO Digit General Insurance Ltd. INE03JT01014 | 1.50% |
Sector Allocation
Banks61.2%
Finance17.8%
Insurance7.9%
Capital Markets7.3%
Financial Technology (Fintech)2.5%
Top 10 sectors by % to NAV. Excludes derivatives.