Mirae AMC - BANKETF
BANKETF
Mirae AMC - BANKETF Chart
Fund overview
Open ₹525.47 | Close ₹520.22 | Volume 2,892 | Avg. traded ₹524.08 |
Circuit range ₹418.75 - ₹628.12 | Day range ₹518.59 - ₹526.57 | Year range ₹433.00 - ₹551.94 | |
AUM ₹171.38 Cr | ManagersEkta Gala, +1 more | Launch Date 20 Jul 2023 |
About Mirae Asset Nifty Bank ETF
- Mirae Asset Nifty Bank ETF is an open-ended value-oriented equity scheme that belongs to Mirae Asset Mutual Fund House.
- The ETF invests in the top 12 private and public sector banks. The weightage of each constituent in the index is based on its free-float market capitalisation.
- The fund was launched on July 26, 2023.
- Ekta Gala and Vishal Singh are the fund managers of Mirae Asset Nifty Bank ETF.
- The total assets under management (AUM) of this fund stood at ₹147 crore as of June 30, 2024.
- One can invest by buying ETF units through a broker. The ETF units can also be bought by retail investors directly on the exchanges through their demat account
Investment Objective & Benchmark
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The investment objective of the scheme is to generate returns that are commensurate with the performance of the underlying index.
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It is a benchmark against Nifty Bank Index which comprises the top banking sectors stocks.
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The investment strategy revolves around reducing the tracking error to the least possible through rebalancing the portfolio, considering the change in weights of stocks in the index as well as the incremental redemptions from the scheme.
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The risk factor level of Mirea Nifty Bank is very high. Mirae Asset Nifty Bank ETF has an expense ratio of 0.09%.
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With a growing demand for borrowings, the banking sector is poised to grow at a stable rate in the near future.
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Banks in India follow stringent regulation, ensuring transparency and limiting investor’s risk to fraud.
Asset Allocation & Portfolio Composition
- The asset allocation of the fund comprises around 99.35% in equities and 0.65% in cash & cash equivalent.
- ETF is mandated to invest at least 80 percent of its assets in the shares of bank and financial services companies. The banking sector presently has 99.35% of the funds allocation.
- The top 10 Holdings in stocks of Miraeṣ Asset Nifty Bank ETF make up over 96% of the asset allocation.
Here’s a list of 10 company holdings in the ETF:
- HDFC Bank Limited: 29.01%
- ICICI Bank Limited: 23.14%
- Axis Bank Limited: 9.98%%
- State Bank of India: 9.83%
- Kotak Mahindra Bank Limited: 9.61%
- IndusInd Bank Limited: 6.25%
- Bank of Baroda: 2.67%
- The Federal Bank: 2.32%
- AU Small Fin Bank: 2.30%
- IDFC First Bank Limited: 2.02%
Reconstitution of Mirae Asset Nifty Bank ETF happens, Semi-annually in June and December.
Since its inception, the fund has given a 14.84% annualised return to its Investors against the benchmark index's 15.16% return.
Key indicators
Tracking index Nifty Bank |
Expense Ratio0.09% |
Tracking error 0.04% |
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Fund size
Expense Ratio
Tracking error
Returns vs FD Rates
Entry Point
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Returns
This ETF
Nifty 50
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Mirae AMC - BANKETF Price history
Day | Open | Close | Change % |
---|---|---|---|
Fri, Nov 8 2024 | ₹521.41 | ₹520.22 | -0.75% |
Thu, Nov 7 2024 | ₹527.17 | ₹524.15 | -0.75% |
Wed, Nov 6 2024 | ₹527.63 | ₹528.10 | |
Tue, Nov 5 2024 | ₹515.53 | ₹525.97 | |
Mon, Nov 4 2024 | ₹521.60 | ₹517.00 | -0.88% |
Fri, Nov 1 2024 | ₹520.50 | ₹521.60 | |
Thu, Oct 31 2024 | ₹523.55 | ₹519.44 | -0.73% |
Wed, Oct 30 2024 | ₹525.39 | ₹523.28 | -0.81% |
Composition
Name | Holdings |
---|---|
HDFCBANKHDFC Bank Ltd | 28.10% |
ICICIBANKICICI Bank Ltd | 23.81% |
SBINState Bank of India | 9.53% |
KOTAKBANKKotak Mahindra Bank Ltd | 9.37% |
532215Axis Bank Ltd | 9.33% |
INDUSINDBKIndusInd Bank Ltd | 5.68% |