Fundalysisby DARKHORSESTOCKS

Scheme

LIC MF Banking and Financial Services Fund

Holds 24 companies worth ₹245 Cr in Sept 2026.

  • Fund house

    LICThe fund house that runs this scheme.

  • AUM

    ₹256 CrLIC MF Banking and Financial Services Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Down 6.6% on Aug 2026, ₹275 Cr.

  • Largest holding

    ICICI BankICICI Bank is 13.6% of this scheme's NAV.

  • Fund manager

    Sudhanshu AsthanaRuns it since 7 Apr 2026, as the fund house dates it.

Overview(31 Aug 2026)

Fund managers1

  1. Sudhanshu AsthanaFund manager · Apr 2026
  1. Jaiprakash ToshniwalSept 2021 – Apr 2026

Key facts

Benchmark
Nifty Financial Services TRI
Risk
Very High
Expense
Regular 2.41% · Direct 1.16%
Exit load
12% of the units allotted shall be redeemed or switched out without any exit load, on or before completion of 90 days from the date of allotment of units. 1% on remaining units if redeemed or switched out on or before completion of 90 days from the date of allotment of units. Nil, if redeemed or switched out after completion of 90 days from the date of allotment of units.
Started
27 Mar 2015
Minimum
₹5,000

Source.Its Scheme Summary Document as of 31 Aug 2026 at AMFI.

What changed(5 changes)

Apr 2026

3 changes
  1. Sudhanshu Asthana joined
    11 Apras fund manager
  2. Jaiprakash Toshniwal left
    11 Aprran it as fund manager from Sept 2021
  3. Expense ratio
    7 AprRegular 2.46% → 2.41%Direct 1.2% → 1.16%

Jan 2026

1 change
  1. Expense ratio
    28 JanRegular 2.45% → 2.46%Direct 1.18% → 1.2%

Jul 2025

1 change
  1. Expense ratio
    22 JulRegular 2.42% → 2.45%Direct 1.05% → 1.18%

Source.Its filings at NSE, since Aug 2024.

Fund managers over time(Sept 2021 – now)

  1. Sudhanshu Asthana
  2. Jaiprakash Toshniwal
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(Aug 2024 – Aug 2026)

Every change to the expense ratio, newest first.
4 changesRegularDirectΔ pt
7 Apr 20262.41%1.16%0.04
28 Jan 20262.46%1.20%0.02
22 Jul 20252.45%1.18%0.13
14 Aug 20242.42%1.05%–
Direct plan, 7 Apr 2026
1.16%
Regular plan 2.41% · Exit load 12% of the units allotted shall be redeemed or switched out without any exit load, on or before completion of 90 days from the date of allotment of units. 1% on remaining units if redeemed or switched out on or before completion of 90 days from the date of allotment of units. Nil, if redeemed or switched out after completion of 90 days from the date of allotment of units.
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(31 Aug 2026)

Objective

The investment objective of the scheme is to generate long-term capital appreciation for unit holders from a portfolio that is invested substantially in equity and equity related securities of companies engaged in banking and financial services sector. There is no assurance that the investment objective of the Scheme will be realized.

Risk, type and benchmark

Riskometer
Very High
At launch
Very High
Type
An Open ended equity scheme investing in Banking & Financial Services Sector
Benchmark
Nifty Financial Services TRI

Asset allocation it may hold% of NAV

  1. Equity and Equity related securities of Banking and Financial Services Companies
    Allowed80–100%Holds95.7%
  2. Equity & equity related instrument other than Banking & Financial Services Companies, Money market instruments, other liquid instruments, INVITs and mutual fund units including Gold / Silver ETFs
    Allowed0–20%

Holds in Sept 2026.95.7% equity · 4.3% debt and cash

How to invest(31 Aug 2026)

Buying

To start
₹5,000, then in multiples of ₹1
To add
₹500, then in multiples of ₹1
Most
No Limit
Systematic
"SIP Details - Daily, Weekly, Monthly, Quarterly | SWP Details - Monthly, Quarterly ,Half Yearly,Yearly | STP Details - Daily, Weekly, Monthly, Quarterly "
Dates
SIP : Daily - All business day, Weekly – Between Monday to Friday, Monthly - Any date between 1st to 28th, Quarterly - Any date between 1st to 28th| SWP Details - Monthly, Quarterly ,Half Yearly & Yearly - Any date between 1st to 28th | STP : Daily - All business day, Weekly - Monday to Friday* (*Default will be Friday), Monthly & Quarterly - Any date between 1st to 28th (*Default date/day-10th of the month)
Minimum
SIP Details - 100, 150,200, 1000 | SWP Details - 500,500,500,500 | STP Details - 100, 500, 500, 500, then sIP Details - 1 | SWP Details - 1 | STP Details - 1
Instalments
"SIP Details - 60,40,30,6 | SWP Details - 6,4,4,4 | STP : 60,12,12,12"
Most
SIP Details - No Limit | SWP Details - No Limit | STP Details - No Limit

Selling and switching

To redeem
₹500 or 1 units
Minimum balance
₹500 or 0.001 units
Switch minimum
Switch - in: Rs.5000 and multiples of Rs. 1/- thereafter. Switch-out :Rs. 500 and multiples of Rs. 1/- thereafter or 0.001 units
Switch multiples
₹1 or No Limit units
Switch most
No Limit or No Limit units

Scheme details(31 Aug 2026)

What it is

Category
Sectoral Fund
Offer
9 Mar 2015 to 23 Mar 2015
Started
27 Mar 2015
Reopened
30 Mar 2015
Plans
Regular Plan-IDCW payout|Regular Plan-IDCW Reinv|Regular Plan-Growth|Direct Plan-IDCW payout|Direct Plan-IDCW Reinv|Direct Plan-Growth
Face value
₹10
Listed
No

How it is run

Swing pricing
No
Side-pocketing
No
Custodian
Standard Chartered Bank
Auditor
M/s. Deloite Haskins & Co LLP
Registrar
KFin Technologies Ltd
SEBI code
LICM/O/E/SEC/15/01/0017