NRI from all over the world (excluding U.S.A. & Canada) can invest in this fund

INVEST VIA NRE/NRO

LIC MF Banking & PSU Fund Growth for NRI [32.98]

Min Investment

5,000

Fund Size

1,591.08 Cr

Expense Ratio

0.8%

Exit Load

0%

SBNRI is a certified Mutual Fund distributor registered with Association of Mutual Funds in India (AMFI) with Reg. No. 246671

32.98

0.02%

NAV as on 07 Nov 24, 12:00 AM

moderate risk

banking & psu

debt

NAV as on 07 Nov 24, 12:00 AM

moderate risk

banking & psu

debt

8.03%p.a.

Last 1Y

5.63%p.a.

Last 3Y

5.63%p.a.

Last 5Y

7.08%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 1,591.08 Cr fund under management as on Nov 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 8.0% 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

7.10%Goi 08/04/2034

7.99%

Small Industries Development Bank Of India

4.35%

Export-Import Bank Of India

4.25%

NLc India Limited

3.40%

Small Industries Development Bank Of India

3.22%

Power Grid Corporation Of India Limited

2.84%

Bajaj Finance Limited

2.82%

National Bank For Agriculture And Rural Development

2.81%

Indian Railway Finance Corporation Limited

2.79%

Ntpc Limited

2.77%

Fund Managers

  1. Marzban Irani (Aug 2016 - Present)
  2. Pratik Shroff (Sep 2023 - Present)

Key Information

View Scheme Document

LIC MF Banking & PSU Fund Growth SIP Calculator

If invested

5,000

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 TypeShort-term Capital Gains (STCG) TaxLong-term Capital Gains (LTCG) Tax
Equity mutual funds15%10% (above Rs. 1 lakh LTCG) without indexation*
Debt & other types of fundsAt tax slab rate20% 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

Frequently Asked Questions