How to Invest in ITI Banking and Financial Services Fund Direct Growth?

You can easily invest in ITI Banking and Financial Services Fund Direct Growth in a hassle-free manner on Groww. The process is extremely simple, quick and completely paperless. Invest in a few minutes with the following steps: Log on to your Groww account Search for ITI Banking and Financial Services Fund Direct Growth from the search box In order to invest, you will have to complete all the KYC formalities which are completely online and paperless and take a few minutes to complete Once you are done with that, you can start investing in ITI Banking and Financial Services Fund Direct Growth as SIP or lumpsum as per your investment objective and risk tolerance

What kind of returns does ITI Banking and Financial Services Fund Direct Growth provide?

The ITI Banking and Financial Services Fund Direct Growth has been there from 06 Dec 2021 and the average annual returns provided by this fund is 19.68% since its inception.

How much expense ratio is charged by ITI Banking and Financial Services Fund Direct Growth?

The term Expense Ratio used for ITI Banking and Financial Services Fund Direct Growth or any other mutual fund is the annual charges one needs to pay to the Mutual Fund company for managing your investments in that fund. The Expense Ratio of ITI Banking and Financial Services Fund Direct Growth is 0.44% as of 03 Oct 2023...

What is the AUM of ITI Banking and Financial Services Fund Direct Growth?

The AUM, short for Assets Under Management of ITI Banking and Financial Services Fund Direct Growth is ₹249.44Cr as of 03 Oct 2023.

How to Redeem ITI Banking and Financial Services Fund Direct Growth?

If you want to sell your ITI Banking and Financial Services Fund Direct Growth holdings, go to your holding on the app or web and simply click on it. You will get two options - redeem & invest more; click on redeem and enter your desired amount or if you wish to redeem the entire holding amount then select the 'redeem all' checkbox.

What is the PE and PB ratio of ITI Banking and Financial Services Fund Direct Growth?

The PE ratio ratio of ITI Banking and Financial Services Fund Direct Growth is determined by dividing the market price by its earnings per share and the PB ratio of the same is evaluated by dividing the stock price per share by its book value per share (BVPS).

ITI Banking and Financial Services Fund Direct Growth - NAV, Mutual Fund Performance & Portfolio

ITI Banking and Financial Services Fund Direct Growth
Equity
Sectoral / Thematic
Very High Risk
1M
6M
1Y
All
 NAV: 29 Sep 2023₹12.36
Min. SIP amount₹500
RatingNA
Fund size₹249.44Cr
Return calculator
Monthly SIP
One-Time
₹5,000 per month
Over the past
Total investment of ₹0
Would have become ₹ (%)
Understand termsAnnualised returnsAverage of the yearly returns of a mutual fund over a given period.
Absolute returnsThe total return of a mutual fund over a given period.
Returns and rankingsCategory: Equity Sectoral / Thematic
Absolute returns
3M6M1YAll
Fund returns7.0%10.8%15.0%20.9%
Category averageNANA22.1%NA
Rank with in category141011NA
Understand terms
Holdings (29)NameSectorInstrumentAssets
HDFC Bank Ltd.
FinancialEquity19.3%
ICICI Bank Ltd.
FinancialEquity16.7%
Bajaj Finance Ltd.
FinancialEquity6.7%
State Bank of India
FinancialEquity5.1%
Axis Bank Ltd.
FinancialEquity5.0%
Ujjivan Financial Services Ltd.
FinancialEquity3.6%
Shriram Finance Ltd
FinancialEquity3.5%
HDFC Life Insurance Co Ltd.
InsuranceEquity3.5%
Kotak Mahindra Bank Ltd.
FinancialEquity3.2%
ICICI Lombard General Insurance Company Ltd.
InsuranceEquity2.9%
See All
DisclaimerThis content is derived from publicly available information, internal sources, and other third-party sources believed to be reliable. We, at Nextbillion Technology Pvt. Ltd. (Groww), do not guarantee the accuracy of such information, or assure its completeness, or warrant that such information will not be changed.
All comparisons are done with the category average metrics for this category.
Pros and cons
Category: Equity Sectoral / Thematic
Pros
Cons
Lower expense ratio: 0.44%
1Y annualised returns lower than category average by 2.4%
Understand termsExpense ratioA fee payable to a mutual fund house for managing your mutual fund investments. It is the total percentage of a company’s fund assets used for administrative, management, advertising, and other expenses.
TaxA percentage of your capital gains payable to the government upon exiting your mutual fund investments. Taxation is categorized as long-term capital gains (LTCG) and short-term capital gains (STCG) depending on your holding period and the type of fund.
Exit loadA fee payable to a mutual fund house for exiting a fund (fully or partially) before the completion of a specified period from the date of investment.
Stamp dutyA form of tax payable for the purchase or sale of an asset or security. 
Past expense ratio & exit load
Expense ratio
Exit load
24 Sep 2023 - Present
0.44%
23 Sep 2023 - 24 Sep 2023
0.44%
22 Sep 2023 - 23 Sep 2023
0.44%
21 Sep 2023 - 22 Sep 2023
0.44%
20 Sep 2023 - 21 Sep 2023
0.44%
19 Sep 2023 - 20 Sep 2023
0.44%
18 Sep 2023 - 19 Sep 2023
0.44%
17 Sep 2023 - 18 Sep 2023
0.44%
16 Sep 2023 - 17 Sep 2023
0.44%
15 Sep 2023 - 16 Sep 2023
0.44%
14 Sep 2023 - 15 Sep 2023
0.44%
13 Sep 2023 - 14 Sep 2023
0.44%
12 Sep 2023 - 13 Sep 2023
0.44%
11 Sep 2023 - 12 Sep 2023
0.44%
10 Sep 2023 - 11 Sep 2023
0.44%
09 Sep 2023 - 10 Sep 2023
0.44%
08 Sep 2023 - 09 Sep 2023
0.44%
07 Sep 2023 - 08 Sep 2023
0.44%
06 Sep 2023 - 07 Sep 2023
0.44%
05 Sep 2023 - 06 Sep 2023
0.44%
04 Sep 2023 - 05 Sep 2023
0.44%
03 Sep 2023 - 04 Sep 2023
0.44%
02 Sep 2023 - 03 Sep 2023
0.44%
01 Sep 2023 - 02 Sep 2023
0.44%
31 Aug 2023 - 01 Sep 2023
0.44%
31 Jul 2023 - 31 Aug 2023
0.44%
30 Jun 2023 - 31 Jul 2023
0.44%
31 May 2023 - 30 Jun 2023
0.44%
30 Apr 2023 - 31 May 2023
0.38%
31 Mar 2023 - 30 Apr 2023
0.38%
28 Feb 2023 - 31 Mar 2023
0.38%
31 Jan 2023 - 28 Feb 2023
0.38%
31 Dec 2022 - 31 Jan 2023
0.38%
31 Dec 2022 - 31 Dec 2022
0.38%
30 Nov 2022 - 31 Dec 2022
0.38%
30 Nov 2022 - 30 Nov 2022
0.38%
30 Nov 2022 - 30 Nov 2022
0.38%
31 Oct 2022 - 30 Nov 2022
0.38%
31 Oct 2022 - 31 Oct 2022
0.38%
31 Oct 2022 - 31 Oct 2022
0.38%
31 Oct 2022 - 31 Oct 2022
0.38%
30 Sep 2022 - 31 Oct 2022
0.38%
30 Sep 2022 - 30 Sep 2022
0.38%
30 Sep 2022 - 30 Sep 2022
0.38%
31 Aug 2022 - 30 Sep 2022
0.38%
31 Aug 2022 - 31 Aug 2022
0.38%
31 Jul 2022 - 31 Aug 2022
0.38%
31 Jul 2022 - 31 Jul 2022
0.38%
30 Jun 2022 - 31 Jul 2022
0.32%
30 Jun 2022 - 30 Jun 2022
0.32%
31 May 2022 - 30 Jun 2022
0.32%
31 May 2022 - 31 May 2022
0.32%
30 Apr 2022 - 31 May 2022
0.32%
30 Apr 2022 - 30 Apr 2022
0.32%
31 Mar 2022 - 30 Apr 2022
0.31%
31 Mar 2022 - 31 Mar 2022
0.31%
28 Feb 2022 - 31 Mar 2022
0.31%
28 Feb 2022 - 28 Feb 2022
0.31%
31 Jan 2022 - 28 Feb 2022
0.31%
31 Dec 2021 - 31 Jan 2022
0.32%
Expense ratio, exit load and taxExpense ratio: 0.44%Inclusive of GST
Exit loadExit load of 1% if redeemed within 12 months.
Stamp duty0.005% (from July 1st, 2020)
Tax implicationReturns are taxed at 15%, if you redeem before one year. After 1 year, you are required to pay LTCG tax of 10% on returns of Rs 1 lakh+ in a financial year. 
Understand terms
Check past data
Minimum investment amountsMin. for 1st investment₹5,000
Min. for 2nd investment onwards₹1,000
Min. for SIP₹500
Fund managementRohan Korde
Apr 2022 - Present
View details
Education
Mr. Korde is a Masters in Management Studies (Finance), Bachelor of Commerce
Experience
Prior to joining Asset Management Limited, he has worked with BOB Capital Markets as Vice President Research, Prabhudas Lilladher as Vice President Research and Anand Rathi Share & Stock Brokers as Vice President Research.
Also manages these schemes
ITI Multi Cap Fund Direct Growth
ITI Multi Cap Fund Regular Growth
ITI Multi Cap Fund Regular IDCW
ITI Multi Cap Fund Direct IDCW
ITI Long Term Equity Fund Direct Growth
ITI Long Term Equity Fund Direct IDCW
ITI Long Term Equity Fund Regular IDCW
ITI Long Term Equity Fund Regular Growth
ITI Arbitrage Fund Direct IDCW
ITI Arbitrage Fund Regular IDCW
ITI Arbitrage Fund Direct Growth
ITI Arbitrage Fund Regular Growth
ITI Balanced Advantage Fund Regular IDCW
ITI Balanced Advantage Fund Regular Growth
ITI Balanced Advantage Fund Direct IDCW
ITI Balanced Advantage Fund Direct Growth
ITI Small Cap Fund Regular IDCW
ITI Small Cap Fund Direct Growth
ITI Small Cap Fund Regular Growth
ITI Large Cap Fund Regular Growth
ITI Large Cap Fund Direct IDCW
ITI Large Cap Fund Direct Growth
ITI Large Cap Fund Regular IDCW
ITI Mid Cap Fund Direct IDCW
ITI Mid Cap Fund Regular Growth
ITI Mid Cap Fund Direct Growth
ITI Mid Cap Fund Regular IDCW
ITI Value Fund Direct IDCW
ITI Value Fund Regular IDCW
ITI Value Fund Direct Growth
ITI Value Fund Regular Growth
ITI Pharma and Healthcare Fund Direct Growth
ITI Pharma and Healthcare Fund Regular IDCW
ITI Pharma and Healthcare Fund Regular Growth
ITI Pharma and Healthcare Fund Direct IDCW
ITI Banking and Financial Services Fund Direct Growth
ITI Banking and Financial Services Fund Direct IDCW
ITI Banking and Financial Services Fund Regular IDCW
ITI Banking and Financial Services Fund Regular Growth
ITI Conservative Hybrid Fund Regular Growth
ITI Conservative Hybrid Fund Regular IDCW Quarterly
ITI Conservative Hybrid Fund Regular IDCW Half Yearly
ITI Conservative Hybrid Fund Regular IDCW Yearly
ITI Conservative Hybrid Fund Direct IDCW Quarterly
ITI Conservative Hybrid Fund Direct IDCW Yearly
ITI Conservative Hybrid Fund Direct Growth
ITI Conservative Hybrid Fund Direct IDCW Half Yearly
Tanay Gabhawala
Oct 2022 - Present
View details
Education
Mr. Gabhawala has done CA, CFA.
Experience
Prior to Joining ITI Mutual Fund, he has worked with CLSA India and Emkay Global Financial Services Ltd..
Also manages these schemes
ITI Multi Cap Fund Direct Growth
ITI Multi Cap Fund Regular Growth
ITI Multi Cap Fund Regular IDCW
ITI Multi Cap Fund Direct IDCW
ITI Balanced Advantage Fund Regular IDCW
ITI Balanced Advantage Fund Regular Growth
ITI Balanced Advantage Fund Direct IDCW
ITI Balanced Advantage Fund Direct Growth
ITI Small Cap Fund Direct IDCW
ITI Small Cap Fund Regular IDCW
ITI Small Cap Fund Direct Growth
ITI Small Cap Fund Regular Growth
ITI Large Cap Fund Regular Growth
ITI Large Cap Fund Direct IDCW
ITI Large Cap Fund Direct Growth
ITI Large Cap Fund Regular IDCW
ITI Mid Cap Fund Direct IDCW
ITI Mid Cap Fund Regular Growth
ITI Mid Cap Fund Direct Growth
ITI Mid Cap Fund Regular IDCW
ITI Value Fund Direct IDCW
ITI Value Fund Regular IDCW
ITI Value Fund Direct Growth
ITI Value Fund Regular Growth
ITI Pharma and Healthcare Fund Direct Growth
ITI Pharma and Healthcare Fund Regular IDCW
ITI Pharma and Healthcare Fund Regular Growth
ITI Pharma and Healthcare Fund Direct IDCW
ITI Banking and Financial Services Fund Direct Growth
ITI Banking and Financial Services Fund Direct IDCW
ITI Banking and Financial Services Fund Regular IDCW
ITI Banking and Financial Services Fund Regular Growth
Nilay Dalal
May 2023 - Present
View details
Also manages these schemes
ITI Banking and Financial Services Fund Direct Growth
ITI Banking and Financial Services Fund Regular Growth
Fund house & investment objective
ITI Mutual Fund
Rank (total assets)NA
Total AUM₹4,771.10Cr
Date of Incorporation14 May 2018
 ITI Banking and Financial Services Fund Direct Growth is a Equity Mutual Fund Scheme launched by ITI Mutual Fund. This scheme was made available to investors on 14 May 2018. Pradeep Gokhale is the Current Fund Manager of ITI Banking and Financial Services Fund Direct Growth fund. The fund currently has an Asset Under Management(AUM) of ₹4,771 Cr and the Latest NAV as of 29 Sep 2023 is ₹12.36.
The ITI Banking and Financial Services Fund Direct Growth is rated Very High risk. Minimum SIP Investment is set to ₹500. Minimum Lumpsum Investment is ₹5,000. Exit load of 1% if redeemed within 12 months.
;
Investment ObjectiveThe scheme seeks to generate long-term capital appreciation from a portfolio that is invested predominantly in equity and equity related securities of companies engaged in banking and financial services.
;
Fund benchmarkNIFTY Financial Services Total Return Index
Scheme Information Document(SID)
Fund house contact details
Address
ITI Asset Mangement Limited,ITI House, Building no. 36,Dr. R. K. Shirodkar Marg, Parel, Mumbai 400012
Phone
022-66214999
Launch Date
14 May 2018
E-mail
[email protected]
Website
www.itiamc.com
ITI Mutual Fund
Asset Management Company
Custodian
Deutsche Bank
Registrar & Transfer Agent
KFin Tech
Address
Karvy House, No. 46, 8-2-609/K, Avenue 4, Street No.1 Banjara Hills,
Email
[email protected]
Website
www.karvymfs.com
Compare funds
ITI Banking and Financial Services Fund Direct Growth
VS
Add mutual fund to compare

	3M	6M	1Y	All
Fund returns	7.0%	10.8%	15.0%	20.9%
Category average	NA	NA	22.1%	NA
Rank with in category	14	10	11	NA

Name	Sector	Instrument	Assets
HDFC Bank Ltd.	Financial	Equity	19.3%
ICICI Bank Ltd.	Financial	Equity	16.7%
Bajaj Finance Ltd.	Financial	Equity	6.7%
State Bank of India	Financial	Equity	5.1%
Axis Bank Ltd.	Financial	Equity	5.0%
Ujjivan Financial Services Ltd.	Financial	Equity	3.6%
Shriram Finance Ltd	Financial	Equity	3.5%
HDFC Life Insurance Co Ltd.	Insurance	Equity	3.5%
Kotak Mahindra Bank Ltd.	Financial	Equity	3.2%
ICICI Lombard General Insurance Company Ltd.	Insurance	Equity	2.9%

Rank (total assets)	NA
Total AUM	₹4,771.10Cr

Date of Incorporation	14 May 2018

Fund benchmark	NIFTY Financial Services Total Return Index

Vaishnavi Tech Park, 3rd & 4th Floor
Sarjapur Main Road, Bellandur
Bengaluru – 560103
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Min. for 1st investment	₹5,000
Min. for 2nd investment onwards	₹1,000

Rating	NA
Fund size	₹249.44Cr

ITI Banking and Financial Services Fund Direct Growth

Return calculator

Understand terms

Annualised returns

Absolute returns

Returns and rankings

Holdings (29)

Disclaimer

Pros and cons

Pros

Cons

Understand terms

Expense ratio

Tax

Exit load

Stamp duty

Past expense ratio & exit load

Expense ratio, exit load and tax

Expense ratio: 0.44%

Exit load

Stamp duty

Tax implication

Minimum investment amounts

Fund management

Rohan KordeApr 2022 - PresentView details

Tanay GabhawalaOct 2022 - PresentView details

Nilay DalalMay 2023 - PresentView details

Fund house & investment objective

Fund house contact details

Compare funds

Rohan Korde
Apr 2022 - Present
View details

Tanay Gabhawala
Oct 2022 - Present
View details

Nilay Dalal
May 2023 - Present
View details