Open-ended equity funds investing in banking stocks are known as banking funds. There are some special sector funds that invest only in the banking industry. Best sectoral banking funds are equity mutual funds, which primarily invest in equity and equity-linked securities of Indian banks. When the banking sector is doing well, one should invest in these funds. Because at such times they can give strong returns. By investing in these funds, you can invest in a portfolio of the best performing banking stocks. Banking and financial sector are considered important in the development of the country. So it is good to invest here. Now know about the best 5 such banking mutual funds, which have doubled investors’ money in just one year.
Aditya Birla Sun Life Banking & Financial Services Fund
Aditya Birla Sun Life Banking and Financial Services Fund has given around 96 per cent returns since last year. That is, investors’ money doubled in almost a year. Since inception of this fund, it has generated an annualized return of 19.23% per annum. The 5 top shares held by the fund include ICICI Bank Limited, HDFC Bank Limited, State Bank of India, Axis Bank Limited and Bajaj Finance.
SBI Banking & Financial Services Fund
The fund has received a 5 star rating from Value Research. The last one year returns of this fund has been 87.4%. The top 5 stocks held by it include HDFC Bank Limited, ICICI Bank Limited, Axis Bank Limited, State Bank of India and Kotak Mahindra Bank Limited. The minimum SIP amount in the fund is Rs 500. The 5-year annualized return of the fund has been 19.95%.
Invesco India Financial Services Fund
The 1-year return of Invesco India Financial Services Fund has been 80.05 per cent. The fund has given an average annual return of 15.16 per cent since its inception. If seen, this fund has doubled the capital of investments every five years. If a person has done a monthly SIP of Rs 10000 in this for 5 years, then his investment amount return will be Rs 8.84 lakh. The fund has got a 4-star rating from Value Research.
Sundaram Financial Services Opportunities Fund
Sundaram Financial Services Opportunities Fund has had a return of 84.51 per cent in the last one year. It has given an average return of 13.92 per cent per annum since its inception. The major shares it holds include HDFC Bank Limited, ICICI Bank Limited, Housing Development Finance Corporation Limited, Axis Bank Limited and State Bank of India. The minimum SIP in this fund can be Rs 100.
Tata Banking & Fin Services
Tata Banking and Financial Services Fund has given a return of 75.22 per cent in the last one year. It has given an average return of 20.06 per cent annually since its inception. This fund has also doubled the capital invested every five years. The fund’s top 5 holdings include HDFC Bank Limited, ICICI Bank Limited, Housing Development Finance Corporation Limited, Axis Bank Limited, and Kotak Mahindra Bank Limited.
