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Reliance Banking Fund

Overview of Reliance Banking Fund

  • Type or nature of fund
  • Reliance Banking fund is an open-ended banking sector mutual fund scheme

  • Investment objective
  • The fund is primarily aimed at investing in equity and equity related securities of banking sector companies in order to generate continuous returns. The mutual fund company has the discretion to completely or partially invest in any mix of securities stated above in order to realize investment objectives and to capitalize on market movement.

  • Fund Information
  • Inception date •28th May 2003
    CRISIL rank •NA
    Plans Growth and Bonus Plans
    Schemes The Scheme offers following Plans / Options:

    •Reliance Banking Fund Direct Plan

    •Reliance Banking Fund

    •Reliance Banking Fund Institutional Plan

    Entry load NIL
    Exit load 1% if redeemed before completion of 1 year, NIL if redeemed after completion of 1 year from date of allotment of units
    Minimum investment Rs.5000 and then in multiples of Re.1 for customers who avail Reliance Banking mutual fund scheme
    SIP

    Yes. Following is the break-up for various SIP options available to investors.

    Minimum investment amount for investing: is-

    1. Rs.100/- per month then in multiples of Re. 1/- for minimum 60 months
    2. Rs.500/- per month then in multiples of Re. 1/- for minimum 12 months
    3. Rs.1000/- per month then in multiples of Re. 1/- for minimum 6 months
    4. Rs.500/- per quarter then in multiples of Re. 1/- for minimum 12 quarters
    5. Rs.1500/- per quarter then in multiples of Re. 1/- for minimum 4 quarters
    6. Rs. 5000/- per year then in multiples of Rs. 500/- for minimum 2 years
    Product label – Risk and target investors High, best-suited for investors who are looking for long-term capital appreciation and are willing to take risk with respect to their capital
    Benchmark S&P BANK Nifty
    SWP Yes, Available
    STP Yes, Available
    Redemption Reliance Growth Mutual Fund redemption proceeds are dispatched within 10 working days after receiving a valid redemption request from customer. Fund provider is required by SEBI, to pay a penal rate of interest of 15% per annum if the redemption is not processed within the stipulated time frame
    Taxation Based on nature of income and type of fund taxation will differ for different investors. For specific taxation guidelines, it is best to consult a financial adviser. However, tax applies to mutual funds in addition to this a small amount of surcharge too, is levied
  • Fund manager
    • Mr. Sanjay H. Parekh Senior Fund Manager – Equity Investments
    • Mr.Sanjay is a commerce graduate and ACA degree holder with over 17 years of experience in capital markets. Before joining Reliance Mutual Funds he worked at ICICI Prudential, Ask Investment, Prabhudas Liladhar, Sunidhi Consultancy, Insight Asset Management as well as Capital Market Magazine.

    • Shrey Loonker Assistant Fund – Manager
    • Shrey Loonker has over 6 years of experience in the equity and stock market field. Before joining Reliance Mutual funds, he was working at Ernst and Young as a financial advisor.

    • Jahnvee Shah Fund Manager – Overseas Investments
    • Jahnvee Shah is Fund Manager of Reliance Equity Opportunities for overseas investmnets. She too holds an MBA in finance and Bachelor of Science degrees. Prior to acting as Fund Manager for this mutual fund scheme, Jahnvee was into Capital Asset Management at Reliance. Before this she was an Assistant Editor at Financial Express.

  • Investment philosophy or strategy
  • The investment strategy of Reliance Banking Fund is mentioned in the section below.

    • Focused on investing in companies pertaining to the banking and financial sector-wise
    • The fund is sufficiently diversified in stocks across various segments like private banks, PSUs, NBFCs, Housing Finance companies etc.
    • Active fund management ensures generation of superior alpha though tactical allocation of funds
    • Reliance Banking fund aims to lower risk through diversification across various sectors
  • Portfolio – Sector / Top 10 holdings
  • Given below is the break-up of share holdings of the Reliance Banking Fund.

    •Name •Sector •Class •Allocation %
    •HDFC Bank Ltd. •Banking and Finance •Equity •25.77
    •ICICI Bank Ltd. •Banking and Finance •Equity •13.85
    •Axis Bank •Banking and Finance •Equity •11.81
    •Yes Bank •Banking and Finance •Equity •6.08
    •State Bank of India •Banking and Finance •Equity •4.23
    •Indiabulls Housing Finance •Banking and Finance •Equity •4.07
    •Federal Bank •Banking and Finance •Equity •3.73
    •Reliance Capital •Banking and Finance •Equity •3.23
    •IDFC •Banking and Finance •Equity •2.93
    •Housing Development Finance Corporation •Banking and Finance •Equity •2.67
  • Risk measures –
  • The risk measures listed below have been calculated by taking rolling return for a 3 year period from 31/08/2012 to 31/08/2015

    •Sharpe Ratio •0.1
    •Alpha •NA
    •Beta •NA
    •Portfolio Turnover Ratio •0.75
  • Fund Performance
  • •AUM •Rs.2192.02 Crores
    •NAV •Rs.44.063 as of 3rd September, 2015
    •Expenses, expense ratio •2.34%

Benchmark Comparison

Following is the benchmark comparison for Reliance Banking Fund as per data from May 29th, 2015.

•Compounded Annualised Returns •Scheme Returns % •Benchmark Returns %
Returns for the last 1 year 25.62 23.85
Returns for the last 3 years 26.72 23.56
Returns for the last 5 years 16.62 14.54
Returns since inception 27.17 23.01

Absolute Returns for each financial year for the last 5 years are mentioned above.

Expert view of the fund

How to apply for Reliance Growth Mutual Fund

Reliance Growth mutual fund can be obtained both offline as well as online. In order to apply for this fund offline, you will need to visit any of the Reliance Capital branch office. You will be required to fill in an an application form and submit it along with certain KYC documents.

In order to apply online, you must visit the Reliance Mutual Fund website wherein the company has furnished the option of online application of mutual funds. Alternatively, financial advisers from the company can be contacted in order to learn every aspect of funds offered by Reliance and apply subsequently. The company also has a mobile application as well as mobile website which can be availed by customers on the go, if they want to invest in Reliance Growth mutual fund.

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Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

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