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Bandhan Mutual Fund is launching a new sector fund, Bandhan Financial Services Fund, that invests across the securities of financial services.
The New Fund Offer (NFO) period for the Bandhan Financial Services Fund is from 10th July 2023, to 24th July 2023. The scheme re-opens for continuous repurchases and sales within 5 business days.
Investment Objective: The Scheme seeks to generate long-term capital appreciation by investing predominantly in equity and equity related instruments of companies engaged in financial services. However, there is no assurance or guarantee that the objectives of the scheme will be realised
Bandhan Financial Services Fund NFO Details
| Fund Name | Bandhan Financial Services Fund |
| NFO Opening Date | 10th February 2023 |
| NFO Closing Date | 24th February 2023 |
| Re-open Date | Within 5 business days |
| Type of Fund | Equity: Sectoral-Financial Services |
| Fund Manager | Mr Sumit Agrawal (Equity portion)Mr Manish Gunwani (Equity portion)Mr Harshal Joshi (Debt portion)Ms Nishita Shah (Overseas investment portion) |
| Minimum Investment Amount | INR 1,000 |
| Minimum Additional Purchase Amount | INR 1,000 |
| Exit Load | 0-1% |
| Suitability | Very High Risk |
| Benchmark | Nifty Financial Services TRI |
| Plans and Options | Direct and Regular PlanGrowth and Income Distribution cum Capital Withdrawal (IDCW) Option |
NOTE:
- All additional investment amounts should be multiple of INR 1
- Minimum SIP/SWP for Monthly frequency is INR 100.
Who Can Invest in Bandhan Financial Services Fund NFO?
Bandhan Financial Services Fund is a sector-based fund that invests across financial services companies. The financial services sector is diversified across 5 broad sectors with 19 sub-sectors. The fund offers an opportunity to invest in sectors across Banks, NBFCs, Capital markets, Insurance and Fintechs with a Flexi cap and growth-oriented approach.
Since the fund is focused on the financial services sector, it is a high-risk fund. Thus, investors who understand the associated risks and volatility of the sector can consider investing in the fund. Furthermore, it is ideal to have a long-term investment horizon of minimum of 5 years or more, as it helps in long-term wealth creation.
Check: Best Banking and Financial Services Funds to invest in 2024
Fund Manager
- Mr Sumit Agrawal: Mr Agarwal is currently the Fund Manager – Equities at Bandhan Mutual Fund. He has more than 17 years of experience in the Finance Industry. His prior associations were with Mirae Asset Mutual Fund as a Fund Manager and Axis Capital. He was also associated with JP Morgan India Services Ltd. Mr Agarwal holds a Post Graduate Diploma in Management (PGDM) in Finance and also a Bachelor’s Degree in Commerce. He is also a Chartered Financial Analyst (USA) and a Company Secretary affiliated with the Institute of Company Secretaries of India.
- Mr Manish Gunwani: Mr Gunwani is the Head – Equities at Bandhan Mutual Fund. He joined IDFC Asset Management Company Limited in January 2023 to head the equity fund management for the fund house. He has over 25 years of rich experience, covering the entire gamut of equity research and fund management. Previously he was associated with Nippon India Mutual Fund, ICICI Prudential AMC. Mr. Gunwani graduated from IIT Madras and has a postgraduate diploma in management from IIM Bangalore.
- Mr Harshal Joshi: Mr Joshi is a fund manager for fixed income at Bandhan Mutual Fund. He has over a decade of experience at IDFC. Before working with Bandhan (erstwhile IDFC), he worked as a dealer with ICAP India Pvt Ltd. He has done his M.Com and B.Com from Mumbai University. Also, he is a PGDM in Finance from N.L. Dalmia Institute of Management Studies and Research, Mumbai.
- Ms Nishita Shah: Ms Shah is currently the Equity research analyst at Bandhan Asset Management Company Limited (erstwhile IDFC Asset Management company). She has over 5 years of research experience. Prior to joining IDFC, she was with Prabhudas Lilladher Pvt. Ltd. She is a Chartered Accountant and a CFA Charter holder. She graduated from Narsee Monjee College of Commerce and Economics.
Asset Allocation of Bandhan Fianancial Services Fund
| Instruments | Minimum Allocation | Maximum Allocation | Risk Profile |
| Equity and equity related instruments of companies engaged in financial services sector | 80% | 100% | Very High |
| Equities & Equity related securities other than above and overseas securities | 0% | 20% | Very High |
| Debt Securities and Money Market Instruments (including Government securities, Securitised debt) | 0% | 20% | Low to Moderate |
| Units issued by REITs and InvITs | 0% | 10% | Very High |
Similar Mutual Funds
- SBI Banking & Financial Services fund
- HDFC Banking & Financial Services Fund
- ICICI Prudential Banking and Financial Services Fund
- Tata Banking & Financial Services Fund
- Mirae Asset Banking and Financial Services Fund
Frequently Asked Questions
You can invest in the Bandhan Financial Services Fund through any of the following methods:
Offline: By filling out the Bandhan NFO application and submitting it along with all documents and cheques to the nearest Investor Service Centre of CAMS or Bandhan mutual fund office.
Online:
Bandhan Mutual Fund Website
Online FinTech platforms and mutual fund platforms
Through Demat account
Through a mutual fund distributor or agent
Yes, it is a high-risk investment based on the riskometer. Bandhan Financial Services Fund is a pure equity sector mutual fund that invests across companies belonging to the financial services sector.
No, Bandhan Financial Services Fund has no lock-in period.
The Bandhan Financial Services Fund scheme re-opens for ongoing subscriptions, switches and redemptions within 5 business days.
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