NRI from all over the world (excluding U.S.A. & Canada) can invest in this fund
SBNRI is a certified Mutual Fund distributor registered with Association of Mutual Funds in India (AMFI) with Reg. No. 246671
₹33.21
0.01%
NAV as on 17 Dec 24, 12:00 AM
moderate risk
banking & psu
debt
NAV as on 17 Dec 24, 12:00 AM
moderate risk
banking & psu
debt
7.93%p.a.
Last 1Y
5.74%p.a.
Last 3Y
5.70%p.a.
Last 5Y
7.07%p.a.
Since Inception
About LIC MF Banking & PSU Fund Growth for NRIs
NRIs can achieve long-term capital appreciation by investing in the LIC MF Banking & PSU Fund Growth scheme from LIC Mutual Fund Asset Management Limited. It is a Banking & PSU mutual fund scheme that predominantly invests in Banking & PSU stocks of companies. Launched on May 2007, LIC MF Banking & PSU Fund Growth is Banking & PSU fund of its category with 1,851.9 Cr fund under management as on Dec 2024. The expense ratio of this fund is less than that of most other Fund category Banking & PSU funds.
- LIC MF Banking & PSU Fund Growth delivered 7.9% annual returns during the last year. It has delivered 7.1% average annual returns since the fund was launched.
- LIC MF Banking & PSU Fund Growth scheme tends to consistently deliver higher returns than most schemes in the same category.
- The scheme has predominantly invested in debt
Fund Objective
The primary investment objective of the Scheme is to seek to generate income and capital appreciation by primarily investing in a portfolio of high quality debt and money market securities that are issued by banks, public sector undertakings, public financial institutions and Municipal Bonds. There is no assurance that the investment objective of the Scheme will be realized.
Top 10 Holdings
7.1% Govt Stock 2034
7.33%
Export-Import Bank Of India
4.32%
Small Industries Development Bank Of India
4.11%
NLc India Limited
3.46%
7.18% Govt Stock 2033
3.33%
Small Industries Development Bank Of India
3.27%
Power Grid Corporation Of India Limited
2.89%
Bajaj Finance Limited
2.87%
National Bank For Agriculture And Rural Development
2.86%
Indian Railway Finance Corporation Limited
2.84%
Fund Managers
- Marzban Irani (Aug 2016 - Present)
- Pratik Shroff (Sep 2023 - Present)
Key Information
View Scheme Document
LIC MF Banking & PSU Fund Growth SIP Calculator
If invested
per month
For a period of
Investment of ₹0 could have been
₹0(+0.0%)
₹0 (+0.0%)
This Fund
₹0 (+0.0%)
Fixed Deposit
NRI Mutual Fund Tax on LIC MF Banking & PSU Fund Growth
Just like for resident investors, capital gains from mutual fund investments are subject to income tax for NRI investors.
| Fund Type | Short-term Capital Gains (STCG) Tax | Long-term Capital Gains (LTCG) Tax |
|---|---|---|
| Equity mutual funds | 15% | 10% (above Rs. 1 lakh LTCG) without indexation* |
| Debt & other types of funds | At tax slab rate | 20% with indexation benefits |
How can NRIs invest in LIC MF Banking & PSU Fund Growth?
NRIs and OCIs can download the SBNRI app to invest in mutual funds from the country of their residence. Here are a few simple steps you need to take:
- Complete your NRI KYC: Type in your personal details and attach supporting documents, like:
- PAN Number
- Overseas address proof: Any of – Water/electricity bill, postpaid mobile/internet bill, rent agreement, driving license, etc.
- Passport – front and back
- Passport size photograph
- signature
If all details are correct, your KYC will be approved within 7 to 8 business days.
- Onboarding: After KYC, you need to share the following details to complete onboarding process and start investing in LIC MF Banking & PSU Fund Growth
- Onboarding: After KYC, you need to share the following details to complete onboarding process and start investing:
- City and country of birth
- NRE/NRO bank account statement/ canceled cheque for the latest 3 months
- Nominee details
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Frequently Asked Questions
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