Mirae Asset Banking and Financial Services Fund
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 | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Primary | ₹20.4270 | -3.52% | +1.78% | +13.47% | +13.60% |
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 |
|---|---|
| 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
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does Mirae Asset Banking and Financial Services Fund hold?
Mirae Asset Banking and Financial Services Fund holds 32 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 50.87% of NAV.
What is the largest holding in Mirae Asset Banking and Financial Services Fund?
The largest position in Mirae Asset Banking and Financial Services Fund is HDFC Bank Ltd., accounting for 15.88% of NAV in the Banks sector.
Is Mirae Asset Banking and Financial Services Fund a concentrated or diversified fund?
With a Gini coefficient of 0.485, Mirae Asset Banking and Financial Services Fund is moderately concentrated. The HHI concentration index is 69,516 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 50.87% of the portfolio.
What is the market cap allocation of Mirae Asset Banking and Financial Services Fund?
Based on SEBI's AMFI classification, Mirae Asset Banking and Financial Services Fund's equity portfolio is split as: Large Cap: 58.18%, Mid Cap: 15.99%, Small Cap: 16.69%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does Mirae Asset Banking and Financial Services Fund invest in most?
Mirae Asset Banking and Financial Services Fund has the highest allocation to Banks (61.16%), Finance (17.76%), Insurance (7.94%). The fund is invested across 5 sectors in total.
How actively managed is Mirae Asset Banking and Financial Services Fund compared to other Sectoral / Thematic funds?
Mirae Asset Banking and Financial Services Fund has an Active Share of 82.95%, 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 Mirae Asset Banking and Financial Services Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, Mirae Asset Banking and Financial Services Fund added 1 new stock (including BSE Ltd.) and exited 1 stock (including Billionbrains Garage Ventures Ltd.). Total holding count remained at 34 stocks.