Fundalysisby DARKHORSESTOCKS

Scheme

HDFC Banking Financial Services Fund

Holds 37 companies worth ₹4,399 Cr in Sept 2026.

  • Fund house

    HDFCThe fund house that runs this scheme.

  • AUM

    ₹4,425 CrHDFC Banking Financial Services Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Down 5.6% on Aug 2026, ₹4,688 Cr.

  • Largest holding

    ICICI BankICICI Bank is 13.8% of this scheme's NAV.

  • Fund manager

    Anand LaddhaRuns it since 1 Jul 2021, as the fund house dates it. With Bhagyesh Kagalkar (gold & silver), Gopal Agrawal (overseas).

Overview(8 Oct 2026)

Fund managers3

  1. Anand LaddhaFund manager · Jul 2021 · 22y · CA B.Com
  2. Bhagyesh KagalkarGold & silver · Aug 2026 · 31y · MMS B.E.
  3. Gopal AgrawalOverseas · Sept 2026 · 21y · B.E.
  1. Dhruv MuchhalJun 2023 – Sept 2026

Key facts

Benchmark
NIFTY Financial Services Index (Total Returns Index)
Risk
Very High
Expense
Regular 2.02% · Direct 0.98%
Exit load
1% within 30 days
Started
1 Jul 2021
Minimum
₹100

Source.Its Scheme Summary Document as of 8 Oct 2026 at AMFI.

What changed(25 changes)

Sept 2026

4 changes
  1. Expense ratio
    14 SeptRegular 1.98% → 2%Direct 0.94% → 0.96%
  2. Bhagyesh Kagalkar joined
    11 Septfor gold and silver
  3. Gopal Agrawal joined
    11 Septfor overseas investments
  4. Dhruv Muchhal left
    11 Septran it for overseas investments from Jun 2023

Aug 2026

1 change
  1. Expense ratio
    13 AugRegular 1.95% → 1.98%Direct 0.95% → 0.94%

Jul 2026

1 change
  1. Expense ratio
    14 JulRegular 1.87% → 1.95%Direct 0.87% → 0.95%

Source.Its filings at NSE, since Sept 2024.

Fund managers over time(Jul 2021 – now)

  1. Anand Laddha
  2. Bhagyesh Kagalkar
  3. Gopal Agrawal
  4. Dhruv Muchhal
MainCoSlice20222023202420252026
Fig. 1.Who ran it when: each manager from the date the fund house gives, or the first document listing them where it gives none, to when they left. A slice is part of it: overseas, gold and silver, or arbitrage.

Costs(Sept 2024 – Oct 2026)

Every change to the expense ratio, newest first.
23 changesRegularDirectΔ pt
14 Sept 20262.00%0.96%0.02
13 Aug 20261.98%0.94%0.01
14 Jul 20261.95%0.95%0.08
11 Jun 20261.87%0.87%0.04
12 May 20261.96%0.91%0.09
12 Apr 20261.92%0.82%0.02
11 Mar 20261.90%0.80%0.01
10 Feb 20261.89%0.79%0.01
11 Dec 20251.90%0.80%0.04
12 Nov 20251.90%0.76%0.01
14 Aug 20251.91%0.77%0.01
14 Jul 20251.90%0.76%0.01
13 Jun 20251.91%0.77%0.06
12 May 20251.91%0.83%0.22
11 Apr 20251.93%1.05%0.01
27 Mar 20251.92%1.04%0.13
12 Feb 20251.94%0.91%0.05
9 Jan 20251.93%0.86%0.02
1 Jan 20251.91%0.84%0.07
13 Dec 20241.89%0.77%0.03
14 Nov 20241.90%0.74%0.06
15 Oct 20241.89%0.68%0.05
15 Sept 20241.89%0.63%–
Direct plan, 14 Sept 2026
0.96%
Regular plan 2.00% · Exit load 1% within 30 days
Fig. 1.Total expense ratio a year, each plan's, as its Scheme Summary Documents state it, filing by filing at NSE. A change holds until the next.

Objective and risk(8 Oct 2026)

Objective

To provide long-term capital appreciation by investing predominantly in equity and equity related instruments of companies engaged in banking and financial services.There is no assurance that the investment objective of the Scheme will be achieved.

Risk, type and benchmark

Riskometer
Very High
At launch
Very High
Type
An open ended equity scheme investing in Banking and Financial Services Sector.
Benchmark
NIFTY Financial Services Index (Total Returns Index)

Asset allocation it may hold% of NAV

  1. Equity and equity related instruments of banking and financial services companies/entities
    Allowed80–100%
  2. Equity and Equity related instruments of companies/entities other than above
    Allowed0–20%
  3. Gold and Silver instruments
    Allowed0–20%Holds0.0%
  4. Units of InvITs
    Allowed0–10%Holds0.0%
  5. Money market instruments, Other liquid instruments and Units of Mutual Fund
    Allowed0–20%

Holds in Sept 2026.99.4% equity · 0.6% debt and cash

How to invest(8 Oct 2026)

Buying

To start
₹100, then any amount
To add
₹100, then any amount
Systematic
For Systematic Investmet Plan (SIP) Daily, Weekly, Monthly, Quarterly, Half Yearly and Yearly For Systematic Withdrawal Advantage Plan (SWAP) Fixed SWAP - Monthly, Quarterly, Half Yearly, Yearly Variable SWAP - Quarterly, Half Yearly, Yearly For Sytematic Transfer Plan (STP) Fixed Systematic Transfer Plan (FSTP) - Daily, Weekly, Monthly, Quarterly Capital Appreciation Systematic Transfer Plan (CASTP) - Monthly, Quarterly
Dates
SIP: For Daily SIP- All Business Days For Weekly SIP- Any business day between Monday to Friday, (Default date is Wednesday) For all other frequnecies - Any date fo the month. If it happens to be a non-Business Day, SIP will be processed on the next Business Day (Default date = 10th of the month) SWP: For Fixed and Variable SWP- Any date. Default Date: 25th STP For Daily FSTP- All Business days For Weekly FSTP-Monday,Tuesday,Wednesday,Thursday,Friday (Default Day) For Monthly FSTP and CASTP - 1,5,10#,15,20,25 For Quarterly FSTP and CASTP - 1,5,10#,15,20,25 #Default Date
Minimum
For SIP DSIP, WSIP, MSIP - Rs. 100; QSIP - Rs. 1500; HSIP - Rs. 2500; YSIP - Rs. 5000. For SWAP Fixed SWAP - Rs. 100; Variable SWAP - Rs. 300. For STP Fixed STP (FSTP) Daily FSTP - Rs. 500; Weekly FSTP - Rs. 500; Monthly FSTP - Rs. 1000; Quarterly FSTP -Rs. 3000. Capital Appreciation STP (CASTP) Monthly CASTP - Rs. 300; Quarterly CASTP - Rs 1000., then for SIP and SWAP Re. 1/- thereafter; For STP FSTP Daily, Monthly, Quarterly FSTP - Rs. 100 thereafter Weekly FSTP - any amount thereafter CASTP Mulitples will be based on the appreciated amount
Instalments
SIP: Minimum number of installments under DSIP- 2 Minimum number of Installments under WSIP and MSIP : - In respect of each SIP Installment between Rs.300 to Rs.499 in value - 20 - In respect of each SIP Installment between Rs.500 to Rs.999 in value - 12. In respect of each SIP Installment equal to or greater than Rs 1,000 in value - 6 Minimum number of installments under QSIP : - In respect of each SIP Installment between Rs.1,500 to Rs.2,999 in value- 4; In respect of each SIP Installment equal to or greater than Rs. 3,000 in value- 2 Minimum number of installments under HYSIP: - In respect of each SIP Installment equal to or greater than Rs. 2,500 in value- 2 Minimum number of installments under YSIP: - In respect of each SIP Installment equal to or greater than Rs. 5,000 in value- 1 SWP: For Fixed and Variable SWP- 2 STP: Under Daily FSTP: -where installment amount is less than Rs. 1,000 : 12 - where installment amount is equal to or greater than Rs. 1,000: 6 Under Weekly STP : - Where installment amount is less than Rs. 1,000: 12 installments - Where installment amount is equal to or greater than Rs. 1,000: 6 installments However, for weekly STP in equity linked savings schemes, there should be a minimum of 6 installments for enrollment. Under Monthly FSTP & Monthly CASTP : - Minimum 6 installments, Under Quarterly FSTP & Quarterly CASTP : - Minimum 2 installments. Further, the minimum balance in the Unit holders account or the minimum amount of application at the time of enrolment for STP in the Transferor Scheme should be Rs. 12,000. There will be no maximum duration for STP enrolment.

Selling and switching

To redeem
Rs.100 and and multiples of Rs.1 thereafter or No minimum redemption criterion for Unit based redemption units
Minimum balance
There is no minimum balance amount requirement. or There is no minimum balance amount in units requirement. units
Switch minimum
Switch - in: Rs.100 and any amount thereafter. Additional Amount:. Rs. 100 Switch-out :Rs. 100 and multiples of Rs. 1/- thereafter
Switch multiples
Any amount
Switch most
Switch in: Not Applicable Switch out: Not applicable. or Switch in: Not Applicable. Switch out: Not applicable. units

Scheme details(8 Oct 2026)

What it is

Category
Sectoral Fund
Offer
11 Jun 2021 to 25 Jun 2021
Started
1 Jul 2021
Plans
Plans:Regular and Direct. Each Plan offers the following sub-options: · a)Growth Option. · b)Income Distribution cum Capital Withdrawal (IDCW) Option. This Option offers following Sub-Options / facilities: · • Payout of Income Distribution cum Capital Withdrawal (IDCW) Option / facility and · • Re-investment of Income Distribution cum Capital Withdrawal (IDCW) Option / facility.
Face value
₹10
Listed
No

How it is run

Swing pricing
No
Side-pocketing
No
Custodian
The Hongkong and Shanghai Banking Corporation Limited
Auditor
S.R. Batliboi & Co. LLP – Chartered Accountants
Registrar
Computer Age Management Services Limited
SEBI code
HDFC/O/E/SEC/21/02/0076