NRI from all over the world (including 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
₹559.04
0.32%
NAV as on 16 Nov 24, 12:00 AM
very high risk
sector financial services
equity
NAV as on 16 Nov 24, 12:00 AM
very high risk
sector financial services
equity
18.92%p.a.
Last 1Y
14.44%p.a.
Last 3Y
14.80%p.a.
Last 5Y
20.83%p.a.
Since Inception
About Nippon India Banking & Financial Services Fund Growth for NRIs
NRIs can achieve long-term capital appreciation by investing in the Nippon India Banking & Financial Services Fund Growth scheme from Nippon Life India Asset Management Ltd. It is a Sector - Financial Services mutual fund scheme that predominantly invests in Sector - Financial Services stocks of companies. Launched on May 2003, Nippon India Banking & Financial Services Fund Growth is Sector - Financial Services fund of its category with 6,237.85 Cr fund under management as on Nov 2024. The expense ratio of this fund is less than that of most other Fund category Sector - Financial Services funds.
- Nippon India Banking & Financial Services Fund Growth delivered 18.9% annual returns during the last year. It has delivered 20.8% average annual returns since the fund was launched.
- Nippon India Banking & Financial Services Fund Growth scheme tends to consistently deliver higher returns than most schemes in the same category.
- The scheme has predominantly invested in equity
Fund Objective
The primary investment objective of the Scheme is to seek to generate continuous returns by actively investing in equity and equity related securities of companies in the Banking & Financial services sector. The AMC will have the discretion to completely or partially invest in any of the type of securities stated above with a view to maximize the returns or on defensive considerations. However, there can be no assurance that the investment objective of the Scheme will be realized, as actual market movements may be at variance with anticipated trends.
Top 10 Holdings
HDFC Bank Ltd
21.47%
ICICI Bank Ltd
16.40%
Axis Bank Ltd
8.44%
State Bank of India
4.73%
Kotak Mahindra Bank Ltd
4.58%
IndusInd Bank Ltd
4.11%
The Federal Bank Ltd
3.90%
SBI Life Insurance Co Ltd
3.38%
SBI Cards and Payment Services Ltd Ordinary Shares
2.78%
Cholamandalam Financial Holdings Ltd
2.74%
Fund Managers
- Vinay Sharma (Apr 2018 - Present)
- Kinjal Desai (May 2018 - Present)
- Bhavik Dave (Jun 2021 - Present)
Key Information
View Scheme Document
Nippon India Banking & Financial Services Fund Growth SIP Calculator
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NRI Mutual Fund Tax on Nippon India Banking & Financial Services 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 Nippon India Banking & Financial Services 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 Nippon India Banking & Financial Services 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
Similar Funds
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3Y Return
ICICI Prudential Banking and Financial Services Fund Growth
very high risk | equity
10.3%
SBI Banking & Financial Services Growth
very high risk | equity
12.3%
HDFC Banking & Financial Services Fund Growth
very high risk | equity
11.1%
Frequently Asked Questions
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