Nippon India Banking & Financial Services Fund
The fund remains heavily concentrated in large-cap banking stocks, with the trio of HDFC, ICICI, and Axis dominating at over 35% combined, leaving minimal room for diversification within its sectoral mandate. The portfolio's 51.7% banking allocation reflects a bet on credit growth and net interest margin expansion, though such concentration amplifies vulnerability to rate cycles and asset quality concerns. Recent portfolio churn—adding mid-sized housing finance and non-bank lenders while trimming public sector exposure—signals the manager is rotating toward higher-growth, less rate-sensitive segments within financials rather than fundamentally shifting conviction.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Regular Growth | ₹621.0543 | -2.08% | — | — | — |
| Regular Growth | ₹621.0543 | -2.08% | +0.59% | +13.95% | +15.92% |
| Direct IDCW | ₹99.2667 | -2.02% | — | — | — |
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 |
|---|---|
| Aptus Value Housing Finance India Limited | 0.98% |
| Poonawalla Fincorp Limited | 0.74% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | HDFC Bank Limited INE040A01034 | 13.04% |
| 2 | ICICI Bank Limited INE090A01021 | 12.75% |
| 3 | Axis Bank Limited INE238A01034 | 9.18% |
| 4 | State Bank of India INE062A01020 | 5.96% |
| 5 | Kotak Mahindra Bank Limited INE237A01036 | 3.53% |
| 6 | SBI Cards and Payment Services Limited INE018E01016 | 3.36% |
| 7 | SBI Life Insurance Company Limited INE123W01016 | 3.29% |
| 8 | Bajaj Finserv Limited INE918I01026 | 2.98% |
| 9 | Multi Commodity Exchange of India Limited INE745G01043 | 2.75% |
| 10 | Cholamandalam Financial Holdings Limited INE149A01033 | 2.67% |
| 11 | IndusInd Bank Limited INE095A01012 | 2.65% |
| 12 | Max Financial Services Limited INE180A01020 | 2.37% |
| 13 | ICICI Prudential Asset Management Company Limited INE346A01027 | 2.35% |
| 14 | Triparty Repo | 2.19% |
| 15 | Equitas Small Finance Bank Limited INE063P01018 | 1.93% |
| 16 | L&T Finance Limited INE498L01015 | 1.78% |
| 17 | AU Small Finance Bank Limited INE949L01017 | 1.72% |
| 18 | Star Health And Allied Insurance Company Limited INE575P01011 | 1.72% |
| 19 | Bajaj Finance Limited INE296A01032 | 1.69% |
| 20 | Aye Finance Limited INE501X01029 | 1.64% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does Nippon India Banking & Financial Services Fund hold?
Nippon India Banking & Financial Services Fund holds 37 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 44.46% of NAV.
What is the largest holding in Nippon India Banking & Financial Services Fund?
The largest position in Nippon India Banking & Financial Services Fund is HDFC Bank Limited, accounting for 13.04% of NAV in the Banks sector.
Is Nippon India Banking & Financial Services Fund a concentrated or diversified fund?
With a Gini coefficient of 0.458, Nippon India Banking & Financial Services Fund is moderately concentrated. The HHI concentration index is 57,251 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 44.46% of the portfolio.
What is the market cap allocation of Nippon India Banking & Financial Services Fund?
Based on SEBI's AMFI classification, Nippon India Banking & Financial Services Fund's equity portfolio is split as: Large Cap: 55.52%, Mid Cap: 22.31%, Small Cap: 10.22%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does Nippon India Banking & Financial Services Fund invest in most?
Nippon India Banking & Financial Services Fund has the highest allocation to Banks (51.68%), Finance (22.11%), Insurance (11.27%). The fund is invested across 5 sectors in total.
How actively managed is Nippon India Banking & Financial Services Fund compared to other Sectoral / Thematic funds?
Nippon India Banking & Financial Services Fund has an Active Share of 82.85%, 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 Nippon India Banking & Financial Services Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, Nippon India Banking & Financial Services Fund added 2 new stocks (including Aptus Value Housing Finance India Limited) and exited 1 stock (including Bank of Baroda). Total holding count increased from 39 to 40 stocks.