Product Snapshot

 
Fund Name
IDBI BANKING & FINANCIAL SERVICES FUND  
 
NatureAn open ended equity scheme investing in Banking & Financial Services Sector.
Investment Objective

The objective of the scheme is to provide investors maximum growth opportunities and to achieve long term capital appreciation by predominantly investing in equity and equity related instruments of companies engaged in Banking and Financial Services Sector. However there can be no assurance that the investment objective under the scheme will be realized.

Asset AllocationThe asset allocation pattern for the scheme under normal circumstances is detailed in the table below:
Instrument Indicative allocation
(% of total assets)
Risk Profile
  Minimum Maximum  
Equity & Equity related instruments of companies engaged in Banking & Financial Services Sector 80% 100% High
Equity and Equity related instruments of other than Banking & Financial Services Sector Companies 0% 20% High
Debt and Money Market instruments 0% 20% Low to Medium
Units issued by Real Estate Investment Trusts (REITs) & Infrastructure Investment Trusts (InvITs) 0% 10% Medium to High
For more details about asset allocation, please refer to the Scheme Information Document (SID)
Fund Manager

Ms. Uma Venkatraman

Benchmark

NIFTY Financial Services -Total Return Index (TRI).

Face Value

Rs.10/- per unit

Entry Load

Not Applicable

Exit Load


  • On an ongoing basis
    Exit Load:
    (Redemption / Switch-out / Transfer / SWP): 1% for exit within 12 months from the date of allotment. No load on exit after the aforementioned period.
Taxation
The Tax rate applicable to equity schemes will be as below-
IDBI Banking & Financial Services Fund Resident Investor** Mutual Fund**
Dividend Distribution Tax (DDT) Nil Individual / HUF - 25% p. a. (plus applicable surcharge & cess) Others- 30% p. a. (plus applicable surcharge & cess)
Capital Gain    
Long Term Capital Gain (LTCG) (units held for more than 12 months)

10% on LTCG, in excess of Rs.1 lakh in a financial year. No indexation benefit is available on computation of such LTCG.

Units of equity oriented funds that were acquired before January 31, 2018, and which would be transferred on or after April 1, 2018, the assesse shall be entitled to exemption on so much of the capital appreciation as has accrued up to January 31, 2018.

Nil
Short Term (units held for less than 12 months) 15% (plus applicable surcharge and cess) Nil

Transactions in units of Equity oriented Scheme also attract securities transaction tax (STT) at applicablerates.
** For further details on taxation please refer to the Section on Taxation in the SAI and independently refer to your tax advisor
Plans & Options
The Scheme offers following plans for investment:-
  • Regular Plan
  • Direct Plan
 
Within each Plan there are two Options:
  1. Dividend Option
  2. Growth Option
The Dividend option under both Plans offers following modes of dividend:
  • Dividend Payout
  • Dividend Re-investment
  • Dividend Sweep
Minimum InvestmentRs. 5000 and in multiplesof Re. 1 thereafter
Additional PurchaseRs.1000 and in multiples of Re. 1 thereafter.
Systematic Investment Plan (SIP)
  • Rs. 1000 per month for a minimum period of 6 months
  • Rs. 500 per month for a minimum period of 12 months
  • Rs. 1500 per quarter for minimum period of 4 quarters.
Investments above minimum amount mentioned, shall be made in multiples of Re. 1 for all SIP in both Options irrespective of frequency of SIP
Riskometer
This product is suitable for investors who are seeking*:
  • Long term capital growth
  • Investment predominantly in equity & equity related instruments of companies engaged in Banking & Financial Services Sector.
*Investors should consult their financial advisors if in doubt about whether the product is suitable for them.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.