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Reliance Banking Fund is an open-ended equity scheme that invests in the banking sector. The scheme parks money in equity and equity related securities of companies in the banking sector and those engaged in allied activities related to the sector. Reliance Banking Fund is an offering of Reliance Mutual Fund.
About Reliance Mutual Fund: Reliance Mutual Fund - part of the Reliance Group - is among the leading mutual fund houses in India. It has reported Average Assets Under Management of Rs. 2,22,575.73 crores (April 2019 - June 2019 QAAUM) and 88.65 lakhs folios, as on June 30, 2019. The company offers a well-rounded portfolio of products to meet varying requirements of investors. As on March 31, 2019, RMF has established its presence in 300 cities across the country.
(Note - All the information contained in this page has been sourced from the official website of Reliance Mutual Fund.)
The features of Reliance Banking Fund are as follows:
| Sector | Allocation |
|---|---|
| Banks | 67.34% |
| Finance | 26.79% |
Details as on Aug 31, 2019
Source: Reliance Mutual Fund
NAV as on Aug 30, 2019: Rs. 255.1286
| Particulars | 1 Year CAGR % | 3 Year CAGR % | 5 Year CAGR % | Since Inception |
|---|---|---|---|---|
| Reliance Banking Fund | -11.84 | 9835.40 | 11.06 | 22.02 |
| B: Nifty Bank TRI | -1.83 | 12.06 | 12.46 | 20.70 |
| AB: S&P BSE Sensex TRI | -2.14 | 10.86 | 8.39 | 18.32 |
| Reliance Banking Fund | 8,819 | 12,605 | 16,910 | 2,55,130 |
| B: Nifty Bank TRI | 9,817 | 14,069 | 18,006 | 2,13,687 |
| AB: S&P BSE Sensex TRI | 9,787 | 13,621 | 14,968 | 1,54,489 |
Source: Reliance Mutual Fund
| Scheme Plan | NAV | NAV Date | Change Since Last NAV | Change Since Last NAV (%) |
|---|---|---|---|---|
| Direct Growth Plan Bonus Option | 271.1708 | 13-09-2019 | 2.17 | 0.81 |
| Direct Dividend Plan | 59.7823 | 13-09-2019 | 0.48 | 0.81 |
| Direct Growth Plan Growth Option | 271.1708 | 13-09-2019 | 2.17 | 0.81 |
| Growth Plan Bonus Option | 259.6966 | 13-09-2019 | 2.08 | 0.81 |
| Dividend Plan | 46.7694 | 13-09-2019 | 0.37 | 0.81 |
| Growth Plan Growth Option | 259.6966 | 13-09-2019 | 2.08 | 0.81 |
| Institutional Bonus Plan | 10.0000 | 06-04-2010 | 0.00 | 0.00 |
| Institutional Dividend Plan | 10.4923 | 06-04-2010 | 0.15 | 1.40 |
| Institutional Growth Plan | 8.5436 | 22-03-2012 | -0.25 | -2.87 |
Source: Reliance Mutual Fund
| Top Holdings | Weightage |
|---|---|
| ICICI Bank Limited | 16.44% |
| HDFC Bank Limited | 16.44% |
| State Bank of India | 9.40% |
| Bajaj Finserv Limited | 6.64% |
| The Federal Bank Limited | 5.80% |
| Axis Bank Limited | 5.66% |
| Bank of Baroda | 5.02% |
| IndusInd Bank Limited | 4.87% |
| Canara Bank | 4.24% |
| Cholamandalam Financial Holdings Limited | 3.10% |
Details as on Aug 31, 2019
Source: Reliance Mutual Fund
Investments in this scheme can help realize long term capital growth. An investor’s funds are parked in equity and equity related securities of companies in the banking sector and those engaged in allied activities related to banking sector. It must be noted that there is no guarantee that the scheme’s investment objective will be realized.
There are different modes by which one can invest in Reliance Banking Fund. These include:
An individual will be required to submit certain documents to avail a mutual fund scheme. Some of the documents that may be required include - filled-up application form, proof of identity and proof of address. For more details on the documents necessary to invest in Reliance Banking Fund, please refer to the company’s official website.
Where does the scheme invest?
The scheme will invest in equity securities from the banking sector and companies involved in allied activities related to banking sector. Investment in overseas securities will be made as per the requirements stipulated by RBI and SEBI from time to time.
What is the exit load associated with Reliance Banking Fund?
An exit load of 1% of the applicable NAV is charged if the amount is redeemed or switched out on or prior to the completion of 1 year from the date of allotment of units. The exit load will be nil if the amount is redeemed or switched out, following the completion of 1 year from the date of allotment of units.
What is the minimum application amount required for Reliance Banking Fund?
The minimum investment amount required to open Reliance Banking Fund is Rs. 5,000 and in multiples of Re.1 thereafter. The minimum additional investment is Rs. 1,000 (plus in the multiple of Re. 1).
Who is the fund manager of Reliance Banking Fund?
The fund manager of Reliance Banking Fund is Vinay Sharma.
What is the risk associated with investing in Reliance Banking Fund?
The risk involved with investing in Reliance Banking Fund is high.
Who can invest in Reliance Banking Fund?
The following entities can invest in Reliance Banking Fund:
