LIC MF Banking and Financial Services Fund is a Thematic fund run by LIC Mutual Fund. On 30-09-2026, it managed ₹256 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 5.3% a year and its Regular plan returned 3.8% a year. Its benchmark, Nifty Financial Services TRI, returned 9.8% a year over the same 3 years.
NAV (Direct plan)
₹22.00
▼ 1.38% · 30-10-2026
NAV (Regular plan)
₹19.18
▼ 1.39% · 30-10-2026
Expense ratio
1.57%Direct2.78%Regular
1.57%
A year
Riskometer
Very High
Set by the fund house
3 year return
5.3%Direct3.8%Regular
5.3%
A year
LIC MF Banking and Financial Services Fund NAV Today
NAV on 30-10-2026: Direct Plan Growth ₹22.00 (down 1.38% that day); Regular Plan Growth ₹19.18 (down 1.39% that day).
This fund (Direct plan)
₹22.0037
LIC MF Banking and Financial Services Fund Returns vs Nifty Financial Services TRI
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
Trailing returns
Period
1M
3M
6M
1Y
3Y
5Y
10Y
This fund (Direct)
−4.47%
−10.44%
−7.19%
−11.59%
+5.30%
+7.15%
+7.72%
This fund (Regular)
−4.57%
−10.71%
−7.76%
−12.69%
+3.81%
+5.73%
+6.33%
Nifty Financial Services TRI
+0.30%
−5.63%
−2.88%
−8.88%
+9.77%
+6.64%
+12.73%
Thematic average
−2.09%
−4.52%
+0.86%
−1.22%
+13.76%
+11.62%
+13.76%
Best in Thematic
+11.54%
+11.27%
+22.16%
+75.71%
+54.78%
+21.14%
+19.31%
Worst in Thematic
−16.05%
−11.74%
−13.97%
−22.44%
−4.46%
+3.65%
+7.72%
Rank in Thematic
199/235
227/232
205/232
206/215
127/133
80/96
63/63
Category rows compare the Direct plans of 235 Thematic funds. Rank 1 is the highest return.
LIC MF Banking and Financial Services Fund Year-wise Returns
Return of each calendar year
Year
Direct
Regular
Nifty Financial Services TRI
2026to date
−13.07%
−13.96%
−9.69%
2025
+18.03%
+16.47%
+18.60%
2024
+2.17%
+0.46%
+10.52%
2023
+22.00%
+20.51%
+14.31%
2022
+20.97%
+19.55%
+10.47%
2021
+11.28%
+9.84%
+14.55%
LIC MF Banking and Financial Services Fund Rolling Returns
The return of every holding period in the fund's history, not only the one that ends today
Rolling returns
Each point is the yearly return of one 3-year holding period, plotted on the day it ended. There are 2,114 periods, one for each trading day from 02-04-2018 to 30-10-2026.
−20%−10%0%10%20%30%40%
LIC MF Banking and Financial Services Fund (Direct)
Nifty Financial Services TRI
Dec 2015 to Dec 2018May 2017 to May 2020Nov 2018 to Nov 2021Apr 2020 to Apr 2023Oct 2021 to Oct 2024Feb 2023 to Feb 2026
LIC MF Banking and Financial Services Fund (Direct)Nifty Financial Services TRI
10%
1%
Below 0%
12%
6%
0-5%
25%
13%
5-10%
32%
39%
10-15%
13%
22%
15-20%
4%
15%
20-25%
5%
5%
Above 25%
Every holding period at a glance
Period
Periods
Median
Lowest
Highest
With a loss
Benchmark median
Beat benchmark
1 year
2,608
10.8%
−34.9%
80.9%
26%
14.9%
35%
2 years
2,361
10.7%
−17.1%
41.5%
14%
15.2%
25%
3 years
2,114
10.8%
−13.6%
31.1%
10%
14.1%
28%
5 years
1,624
10.4%
−5.5%
24.0%
7%
13.2%
29%
7 years
1,129
10.1%
3.9%
14.7%
0%
14.1%
1%
10 years
390
9.9%
7.4%
14.0%
0%
14.8%
0%
Every SIP holding period at a glance
Period
Periods
Median
Lowest
Highest
With a loss
Benchmark median
Beat benchmark
1 year
128
14.1%
−56.3%
75.8%
28%
14.9%
38%
2 years
116
13.2%
−31.0%
33.8%
17%
16.0%
30%
3 years
104
11.8%
−23.4%
22.5%
12%
16.0%
26%
5 years
80
12.1%
−11.3%
19.8%
10%
14.4%
39%
7 years
56
12.8%
5.5%
15.6%
0%
14.2%
20%
10 years
20
11.3%
9.0%
12.9%
0%
14.5%
0%
Lumpsum: the yearly rate (CAGR) from the NAV on a period's first day to the NAV on its last. SIP: the XIRR of the monthly instalments and their value on the last day. "With a loss" counts the periods that ended below the money put in. "Beat benchmark" counts the periods in which the fund did better than Nifty Financial Services TRI over the same days. Past returns do not promise future returns.
LIC MF Banking and Financial Services Fund Risk
How much it swings, and the falls an investor had to sit through
Risk and return
Measure
LIC MF Banking and Financial Services Fund (Direct)This fund
Nifty Financial Services TRI
Return (CAGR)
−11.59%
−8.88%
Standard deviation
17.67%
17.58%
Sharpe ratio
-0.95
-0.80
Sortino ratio
-1.27
-1.11
Maximum drawdown
−16.3%
(31-03-2026)
−17.3%
(30-03-2026)
Beta
0.95
1.00
Alpha
−3.42%
0.00%
From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.
Measure
LIC MF Banking and Financial Services Fund (Direct)This fund
Nifty Financial Services TRI
Return (CAGR)
+5.30%
+9.77%
Standard deviation
16.19%
16.24%
Sharpe ratio
-0.05
0.23
Sortino ratio
-0.06
0.32
Maximum drawdown
−16.3%
(31-03-2026)
−17.3%
(30-03-2026)
Beta
0.94
1.00
Alpha
−4.23%
0.00%
From daily NAVs, 30-10-2023 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.
Measure
LIC MF Banking and Financial Services Fund (Direct)This fund
Nifty Financial Services TRI
Return (CAGR)
+7.15%
+6.64%
Standard deviation
16.33%
16.70%
Sharpe ratio
0.08
0.05
Sortino ratio
0.11
0.07
Maximum drawdown
−19.4%
(07-03-2022)
−21.4%
(16-06-2022)
Beta
0.92
1.00
Alpha
+0.58%
0.00%
From daily NAVs, 29-10-2021 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.
Measure
LIC MF Banking and Financial Services Fund (Direct)This fund
Nifty Financial Services TRI
Return (CAGR)
+7.72%
+12.73%
Standard deviation
20.57%
20.60%
Sharpe ratio
0.11
0.36
Sortino ratio
0.16
0.49
Maximum drawdown
−44.8%
(23-03-2020)
−43.5%
(23-03-2020)
Beta
0.92
1.00
Alpha
−4.44%
0.00%
From daily NAVs, 28-10-2016 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.
Measure
LIC MF Banking and Financial Services Fund (Direct)This fund
Nifty Financial Services TRI
Return (CAGR)
+7.03%
+11.66%
Standard deviation
20.65%
20.50%
Sharpe ratio
0.07
0.30
Sortino ratio
0.10
0.41
Maximum drawdown
−44.8%
(23-03-2020)
−43.5%
(23-03-2020)
Beta
0.92
1.00
Alpha
−4.17%
0.00%
From daily NAVs, 30-03-2015 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
−50%−40%−30%−20%−10%0%
LIC MF Banking and Financial Services Fund (Direct)
Nifty Financial Services TRI
201620182020202220242026
LIC MF Banking and Financial Services Fund (Direct)Nifty Financial Services TRI
Worst fall
High before it
Bottom
Back at the high
Time to climb back
Below its high today
LIC MF Banking and Financial Services Fund (Direct)
−44.8%
03-11-2017
23-03-2020
02-02-2021
10 months
−15.1%
Nifty Financial Services TRI
−43.5%
02-01-2020
23-03-2020
15-12-2020
9 months
−12.4%
From the Direct plan's daily NAV since 30-03-2015, adjusted for unit splits, and Nifty Financial Services TRI over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.
LIC MF Banking and Financial Services Fund vs Other Thematic Funds
The five Thematic funds with the best three year return, and this fund. Direct plans.
AUM is each fund's size at the end of its last reported month, from its own portfolio file. We calculate the risk ratios from daily NAVs over the last three years. The risk-free return is what NSE's overnight rate index earned over the same years. Alpha and beta compare each fund with its own benchmark's TRI. "--" means we have no figure: for alpha and beta, no daily series for that benchmark.
LIC MF Banking and Financial Services Fund Expense Ratio and Costs
What each plan charges a year, in force from 01-10-2026
Plan
Base expense ratio
Brokerage
Transaction costs
Levies and GST
Total expense ratio
Thematic median
Cost rank (1 = cheapest)
Direct
1.02%
0.12%
0.01%
0.42%
1.57%
1.18%
192/235
Regular
2.10%
0.12%
0.01%
0.55%
2.78%
2.41%
196/235
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file. Cost rank: where this plan comes when the Thematic funds' plans of the same type are sorted from the lowest total expense ratio to the highest.
Direct vs Regular: what the gap cost
Both plans own the same portfolio, so the difference in what they earned is the Regular plan's extra cost, taken out of its NAV.
Over the last
Regular
Direct
Direct earned more by
₹1 lakh became (Regular)
₹1 lakh became (Direct)
1 year
−12.69%
−11.59%
1.10%
₹87,310
₹88,410
3 years
3.81%
5.30%
1.49% a year
₹1,11,871
₹1,16,758
5 years
5.73%
7.15%
1.42% a year
₹1,32,127
₹1,41,241
10 years
6.33%
7.72%
1.39% a year
₹1,84,739
₹2,10,360
Returns over more than 1 year are a rate a year (CAGR). ₹1 lakh invested once at the start of each period, valued on the last NAV.
LIC MF Banking and Financial Services Fund SIP Calculator
What a one-time or monthly investment in this fund would be worth today, from its own NAV history
Growth of an investment
Step up each year
PeriodFor
₹10,000 on the first trading day of every month, from 30-03-2015 to 30-10-2026: 140 instalments, ₹14,00,000 in all.
Investment
Invested
Value now
Gain
Return a year
Direct planLIC MF Banking and Financial Services Fund (Direct)
₹14,00,000
₹23,29,850
₹9,29,850
8.4%
Regular planLIC MF Banking and Financial Services Fund (Regular)
Direct planLIC MF Banking and Financial Services Fund (Direct)Regular planLIC MF Banking and Financial Services Fund (Regular)Nifty Financial Services TRICategory averageCategory average, 235 Thematic fundsAmount invested
From each plan's published NAV (Growth option), the benchmark's TRI and the category average, over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
LIC MF Banking and Financial Services Fund Asset Allocation
Asset allocation as on 30-09-2026
What the fund holds
95.7%Equity
Asset
Fund
Category
Equity
95.7%
94.5%
Cash and others
4.3%
4.0%
Market cap of stocks
Market cap
Fund
Category
Large Cap
38.9%
45.7%
Mid Cap
34.4%
19.6%
Small Cap
22.4%
24.1%
Share of the whole fund. Category: the average of the Thematic funds that hold stocks. Groups follow AMFI's latest list, as SEBI defines them: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
LIC MF Banking and Financial Services Fund Sector Allocation
Sector allocation of the fund's stocks as on 30-09-2026
Largest sectors
Banks49.4%
Finance21.3%
Capital Markets14.4%
Financial Technology (Fintech)8.2%
Insurance2.4%
Sector changes
Sector
July 2026
August 2026
September 2026
Change
Banks
52.5%
49.3%
49.4%
−3.1%
Finance
21.6%
21.8%
21.3%
−0.3%
Capital Markets
13.3%
14.5%
14.4%
+1.1%
Financial Technology (Fintech)
6.8%
9.9%
8.2%
+1.4%
Insurance
3.8%
2.6%
2.4%
−1.4%
Each sector's share of the fund at the end of each month. The five largest sectors of September 2026. Change: from July 2026 to September 2026, in % of the fund.
LIC MF Banking and Financial Services Fund Portfolio Holdings
As on 30-09-2026 · 24 holdings · from the fund house's monthly portfolio
Holdings
Sector
Weight%
Holdings trend
1M change
ICICI Bank Ltd.
Banks
13.61%
0.0%
AU Small Finance Bank Ltd.
Banks
7.33%
0.0%
Axis Bank Ltd.
Banks
5.32%
0.0%
One 97 Communications Ltd.
Financial Technology (Fintech)
5.24%
0.0%
HDFC Bank Ltd.
Banks
5.08%
0.0%
Bajaj Finance Ltd.
Finance
4.86%
0.0%
IndusInd Bank Ltd.
Banks
4.62%
0.0%
City Union Bank Ltd.
Banks
4.60%
0.0%
Shriram Finance Ltd.
Finance
4.00%
0.0%
Karur Vysya Bank Ltd.
Banks
3.40%
0.0%
BSE Ltd.
Capital Markets
3.29%
0.0%
Nippon Life India Asset Management Ltd.
Capital Markets
3.28%
0.0%
Motilal Oswal Financial Services Ltd.
Capital Markets
3.22%
0.0%
DCB Bank Ltd.
Banks
3.02%
0.0%
Aditya Birla Capital Ltd.
Finance
3.02%
0.0%
PB Fintech Ltd.
Financial Technology (Fintech)
2.99%
0.0%
Cholamandalam Investment & Fin Co Ltd.
Finance
2.78%
0.0%
Creditaccess Grameen Ltd.
Finance
2.70%
0.0%
Max Financial Services Ltd.
Insurance
2.42%
0.0%
Ujjivan Small Finance Bank Ltd.
Banks
2.37%
0.0%
Aditya Birla Sun Life AMC Ltd.
Capital Markets
2.36%
0.0%
360 One Wam Ltd.
Capital Markets
2.29%
0.0%
Aadhar Housing Finance Ltd.
Finance
2.01%
0.0%
Aavas Financiers Ltd.
Finance
1.89%
0.0%
LIC MF Banking and Financial Services Fund Stocks Bought and Sold
All changes are between August 2026 and September 2026
Overlap: for each holding both funds own, the smaller of its two weights, added up. 40% means 40% of each fund's money sits in positions the other also holds. From each fund's latest monthly portfolio, matched by ISIN. Cash and hedged positions are left out. Funds that overlap under 10% are not listed. A high overlap does not make two funds the same: their costs, lock-in and category can differ.
LIC MF Banking and Financial Services Fund Overview
Fund facts from the scheme summary document, as on 16-10-2026
Expense ratio (Direct)
1.57%
Expense ratio (Regular)
2.78%
Category
Thematic
Risk
Very High
Benchmark
Nifty Financial Services TRI
Launch date
27-03-2015
Minimum investment
₹5,000
Minimum additional investment
₹500
AUM
₹256.37 Cr (30-09-2026)
Lock in
None
Scheme code (Direct)
134017
ISIN (Direct)
INF767K01NK6
Scheme code (Regular)
134016
ISIN (Regular)
INF767K01NH2
NAV history
From 30-03-2015, 11.6 years
Exit load
Exit Load for units in excess of 12% of the investment,1% will be charged for redemption within 90 days.
Tax on LIC MF Banking and Financial Services Fund returns
LIC MF Banking and Financial Services Fund is taxed as an equity fund: 65% or more of it is in Indian stocks.
Units sold within 1 year: the gain is taxed at 20%.
Units held longer: gains above ₹1.25 lakh in a financial year, across all your equity funds and shares, are taxed at 12.5%.
IDCW (dividend) payouts are added to your income and taxed at your slab rate.
A stamp duty of 0.005% is deducted when you invest.
Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.
All plans and options
Plan
Option
NAV
As on
direct
Growth
₹22.0037
30-10-2026
direct
IDCW
₹21.8498
30-10-2026
regular
Growth
₹19.1833
30-10-2026
regular
IDCW
₹19.1799
30-10-2026
About LIC MF Banking and Financial Services Fund
LIC MF Banking and Financial Services Fund is a mutual fund from LIC Mutual Fund. Its category is Thematic. It was launched on 27-03-2015. Its benchmark is Nifty Financial Services TRI. At the end of September 2026 it held 24 securities.
Fund Manager
Sudhanshu Asthana
Fund manager of LIC MF Banking and Financial Services Fund, since 07-04-2026
Frequently Asked Questions for LIC MF Banking and Financial Services Fund
What is the current NAV of LIC MF Banking and Financial Services Fund?
The Direct plan NAV is ₹22.0037. The Regular plan NAV is ₹19.1833, as on 30-10-2026.
What are the returns of LIC MF Banking and Financial Services Fund?
The Direct plan returned −11.59% in 1 year, +5.30% a year over 3 years, +7.15% a year over 5 years. The Regular plan returned −12.69% in 1 year, +3.81% a year over 3 years, +5.73% a year over 5 years. These figures are as on 30-10-2026.
What is the expense ratio of LIC MF Banking and Financial Services Fund?
The Direct plan charges 1.57% a year. The Regular plan charges 2.78% a year. This is the figure the fund house reported to AMFI, in force from 01-10-2026.
What is the AUM of LIC MF Banking and Financial Services Fund?
LIC MF Banking and Financial Services Fund managed ₹256.37 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.
What are the top holdings of LIC MF Banking and Financial Services Fund?
At the end of September 2026 the largest holdings were ICICIBANK (13.61%), AUBANK (7.33%), AXISBANK (5.32%), PAYTM (5.24%), HDFCBANK (5.08%). The fund held 24 securities in all.
How do I invest in LIC MF Banking and Financial Services Fund?
Through LIC Mutual Fund's website or app, a mutual fund distributor, or an investment platform. Choose the Direct plan to pay no distributor commission, or the Regular plan to invest through a distributor. The first investment is at least ₹5,000. You can invest once or through a monthly SIP.
Who is the fund manager of LIC MF Banking and Financial Services Fund?
Sudhanshu Asthana (since 07-04-2026).
What is the exit load of LIC MF Banking and Financial Services Fund?
Exit Load for units in excess of 12% of the investment,1% will be charged for redemption within 90 days.
Sources: NAV and expense ratio from AMFI. Holdings from the fund house's monthly portfolio statement. Fund facts from its scheme summary document, as on 16-10-2026.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.
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