About Nifty Financial Services Index
The Nifty Financial Services Index is designed to reflect
the behavior and performance of large companies in financial services sector.
The Nifty Financial Services Index comprises of 20 stocks that are listed on
the National Stock Exchange (NSE)
Eligibility Criteria for Selection of Constituent Stocks:
- Company should belong to Financial Services sector and form part of NIFTY 500 Index at the time of review.
- The company should have a listing history of 6 months
- Final selection of 20 companies shall be done based on the free float market capitalization after considering the adequate representation of each segment.
- Weightage of each stock in the index is calculated based on its free-float market capitalization
- No single stock shall be more than 33% of the total and weightage of top 3 stocks cumulatively shall not be more than 62% of the total at the time of rebalancing.
- Index is re-balanced on semi-annual basis in March and September
Nifty Financial Services Index Portfolio
|
CompanyName |
Weight |
|
HDFCBank |
24.40% |
|
HousingDevelopmentFinance Corporation |
16.70% |
|
ICICIBank |
16.30% |
|
KotakMahindraBank |
9.30% |
|
AxisBank |
7.20% |
|
StateBankof India |
6.00% |
|
BajajFinance |
6.00% |
|
BajajFinserv |
2.70% |
|
HDFCLifeInsurance |
2.10% |
|
SBILifeInsurance |
1.70% |
|
ICICI LombardGeneralInsurance |
1.30% |
|
PiramalEnterprises |
1.00% |
|
ShriramTransportFinanceCo. |
1.00% |
|
ICICIPrudentialLifeInsurance |
0.90% |
|
Cholamandalam InvestmentandFinance |
0.80% |
|
HDFCAssetManagement |
0.60% |
|
MuthootFinance |
0.60% |
|
PowerFinanceCorporation |
0.60% |
|
REC |
0.50% |
|
Mahindra &MahindraFinancialServices |
0.30% |
Why invest in Mirae Asset Nifty Financial Services ETF ?
- Opportunity to participate in the sector which is essential for the overall growth of the economy.
- Financial Services encompasses not only banks but also other segments such as NBFC, Insurance, Capital Market etc. which are currently under-penetrated among masses.
- Nifty Financial Services Index has exhibited better return to risk profile along with lower drawdown vis-à-vis Nifty Bank Index.
- Overall actively managed BFSI funds are finding difficult to outperform Nifty Financial services Index across longer investment horizon.
- Relatively low cost option to participate in Financial Services Sector
NFO Details for Mirae Asset Nifty Financial Services ETF
- NFO Period : 22nd July 2021 – 29th July 2021
- Allotment Date : 30th July 2021
- Scheme re-open: 03rd August 2021
- Benchmark Index: Nifty Financial Services Total Return Index (TRI)
- Allotment Price: Offer for Sale of Units at 1/1000th value of the Nifty Financial Services Index on the date of allotment
- Listing: NSE & BSE (Maximum within 5 business days from the date of allotment)
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