Fundalysisby DARKHORSESTOCKS

Scheme

Mirae Asset Banking and Financial Services Fund

Holds 30 companies worth ₹2,150 Cr in Sept 2026.

  • Fund house

    MiraeThe fund house that runs this scheme.

  • AUM

    ₹2,196 CrMirae Asset Banking and Financial Services Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Down 6.8% on Aug 2026, ₹2,357 Cr.

  • Largest holding

    HDFC BankHDFC Bank is 14.4% of this scheme's NAV.

  • Fund manager

    Abhijith VaraRuns it since 23 Sept 2025, as the fund house dates it.

Overview(4 Oct 2026)

Fund managers1

  1. Abhijith VaraFund manager · Sept 2025 · 19y · B.Tech
  1. Harshad BorawakeJun 2025 – Sept 2025
  2. Gaurav KocharDec 2020 – Jun 2025

Key facts

Benchmark
Nifty Financial Services - TRI
Risk
Very High
Expense
Regular 2.14% · Direct 0.78%
Exit load
1% within 1 month
Started
11 Dec 2020
Minimum
₹5,000

Source.Its Scheme Summary Document as of 4 Oct 2026 at AMFI.

What changed(19 changes)

Oct 2026

1 change
  1. Expense ratio
    4 OctRegular 2.02% → 2.14%Direct 0.6% → 0.78%

Jul 2026

1 change
  1. Exit load
    14 Jul1% within 1 year → 1% within 1 month

Mar 2026

1 change
  1. Expense ratio
    20 MarRegular 2% → 2.02%Direct 0.56% → 0.6%

Source.Its filings at NSE, since Sept 2024.

Fund managers over time(Dec 2020 – now)

  1. Abhijith Vara
  2. Harshad Borawake
  3. Gaurav Kochar
MainCoSlice202120222023202420252026
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.
15 changesRegularDirectΔ pt
4 Oct 20262.14%0.78%0.18
20 Mar 20262.02%0.60%0.04
29 Jan 20262.00%0.56%0.01
30 Nov 20252.01%0.55%0.01
22 Sept 20252.03%0.56%0.03
17 Jul 20252.03%0.59%0.02
16 Jun 20252.05%0.61%0.01
21 Apr 20252.04%0.60%0.10
19 Mar 20252.09%0.70%0.09
27 Feb 20252.07%0.61%0.02
17 Jan 20252.05%0.59%0.01
19 Nov 20242.05%0.60%0.01
17 Oct 20242.06%0.61%0.01
17 Sept 20242.04%0.60%0
2 Sept 20242.05%0.60%–
Direct plan, 4 Oct 2026
0.78%
Regular plan 2.14% · Exit load 1% within 1 month
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(4 Oct 2026)

Objective

The investment objective of the scheme is to generate long-term capital appreciation from a portfolio that is invested predominantly in equity and equity related securities of companies/Entities engaged in banking and financial services sector. The Scheme does not guarantee or assure any returns. 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
Sectoral / Thematic Fund - 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 instruments of companies in the Banking and Financial Services Sector in India
    Allowed80–100%
  2. (High)Other equities and equity related Instruments
    Allowed0–20%
  3. (High)Debt and Money Market Instruments including schemes of Mutual Fund
    Allowed0–20%Holds2.1%
  4. (Low to Medium)Units issued by InVITs
    Allowed0–10%Holds0.0%

Holds in Sept 2026.97.9% equity · 2.1% debt and cash

How to invest(4 Oct 2026)

Buying

To start
₹5,000, then in multiples of ₹1
To add
₹1,000, then in multiples of ₹1
Most
Any Amount
Systematic
SIP - Monthly / Quarterly SWP - Monthly / Quarterly / Halfyearly / Yearly STP - Daily / Weekly / Fortnightly / Monthly / Quarterly
Dates
SIP - Except 29,30 and 31 all dates SWP - 1, 10, 15, 21 and 28 STP - Daily, Weekly only Wednesday, Fortnightly - alternate Wednesday, Monthly
Minimum
₹500, then in multiples of ₹1
Instalments
5

Selling and switching

To redeem
₹1 or Any Units units
Switch minimum
₹5,000
Switch multiples
₹1
Switch most
Any Amount or Any Units units

Scheme details(4 Oct 2026)

What it is

Category
Sectoral / Thematic
Offer
25 Nov 2020 to 4 Dec 2020
Started
11 Dec 2020
Reopened
14 Dec 2020
Plans
Direct Plan Growth · Direct Plan IDCW - Payout · Direct PlanIDCW - Reinvestment · Regular PlanIDCW - Payout · Regular PlanIDCW - Reinvestment · Regular Plan Growth
Face value
₹10
Listed
No

How it is run

Swing pricing
No
Side-pocketing
Enabled.
Custodian
M/s. Deutsche Bank AG, Mumbai
Auditor
M/s. Chokshi & Chokshi, Chartered Accountant
Registrar
KFIN Technologies Limited
SEBI code
MIRA/O/E/SEC/20/09/0024