DebtBanking and PSU FundRegularGrowthLow to Moderate

LIC MF Banking & PSU Debt Fund

Q: What is the NAV of LIC MF Banking & PSU Debt Fund?

As of 05 Oct 2026, the NAV of LIC MF Banking & PSU Debt Fund is ₹37.00 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has LIC MF Banking & PSU Debt Fund delivered?

LIC MF Banking & PSU Debt Fund has returned +4.56% over 1 year, +6.74% per year over 3 years, +5.77% per year over 5 years and +7.00% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

Q: What is the expense ratio of LIC MF Banking & PSU Debt Fund?

LIC MF Banking & PSU Debt Fund charges an expense ratio of 0.65% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of LIC MF Banking & PSU Debt Fund?

LIC MF Banking & PSU Debt Fund's largest holdings are 8.09% NLC India Ltd. (3.9%), 8.14% Nuclear Power Corporation (3.8%), 8.37% National Highways Authority of India (3.4%), 7.83% Small Industries Development Bk of India (3.3%) and 7.75% Bharti Telecom Ltd. (3.2%). Holdings are disclosed monthly and change over time.

Q: How risky is LIC MF Banking & PSU Debt Fund?

LIC MF Banking & PSU Debt Fund is rated low to moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.1% and its worst peak-to-trough fall in our sample was -5.8%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What does the Sharpe ratio of 0.22 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. LIC MF Banking & PSU Debt Fund's 0.22 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of LIC MF Banking & PSU Debt Fund?

LIC MF Banking & PSU Debt Fund is benchmarked against the NIFTY Banking & PSU Debt Index A-II. Its alpha and beta on this page are measured against that index.

Q: Who manages LIC MF Banking & PSU Debt Fund?

LIC MF Banking & PSU Debt Fund is managed by Pratik Harish Shroff and Rahul Singh at LIC.

Q: How is LIC MF Banking & PSU Debt Fund taxed?

LIC MF Banking & PSU Debt Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.

LIC Mutual Fund · Best Banking & PSU Mutual Funds

NAV

₹37.00

+0.09% 1D

as of 05 Oct 2026

This is the Regular plan of LIC MF Banking & PSU Debt Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.

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NAV history

+4.49%absolute

52-week rangePrev NAV ₹36.97

Latest ₹37.00

Low ₹35.41100th percentile of its 52-week rangeHigh ₹37.01

Scorecard

★★★☆☆3/5 vs 19 Banking and PSU Fund peers

Performance 60%
Risk 15%
Cost 10%
Downside 15%

How this is computed

Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Banking and PSU Fund (same plan and option).

PerformanceStrong

3Y CAGR +6.74% · ranks 7 of 19 Banking and PSU Funds

RiskModerate

Volatility 1.1% vs 1.1% category avg

CostAverage

0.7% expense vs 0.7% category avg

ConsistencyHigh

100% of rolling 3Y windows were positive

Strengths & concerns

Generated from this fund's own numbers against its sub-category — each point names the figure behind it.

Strengths

Stronger risk-adjusted returns — Sharpe 0.22 vs 0.15 Banking and PSU Fund average
Consistent — positive in 100% of rolling 3-year windows

Concerns

No significant concerns identified.

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.65%

Category 0.68%▼0.03%

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

—

Category —

Excess return per unit of total volatility (rf = 6.5%)

0.22

Category 0.15▲0.07

Scheme Info

Definitions

Plan

Regular · Growth

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

None

Exit Load

None

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹100

Smallest one-time (lumpsum) investment the scheme accepts

₹5,000

NIFTY Banking & PSU Debt Index A-II

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

31 May 2007

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

+0.07%

Absolute return over the last 3 months (not annualized)

+0.55%

Absolute return over the last 6 months (not annualized)

+3.38%

Absolute return since 1 Jan of this year (not annualized)

+3.51%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

+4.56%

3-year annualized return (CAGR)

+6.74%

5-year annualized return (CAGR)

+5.77%

10-year annualized return (CAGR)

+6.39%

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+7.00%

Advanced metrics — risk

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

1.08%

Excess return per unit of total volatility (rf = 6.5%)

0.22

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

0.32

Largest peak-to-trough decline over full history

-5.80%

Benchmark ratios

Not shown for Banking and PSU Fund — a debt, arbitrage or cash-like fund isn't measured against an equity index, so alpha/beta vs one would be noise rather than signal.

Fund vs category average (Banking and PSU Fund)

Period	Fund	Category avg.	Diff
1M abs	+0.07%	-0.02%	+0.09%
3M abs	+0.55%	+0.40%	+0.15%
6M abs	+3.38%	+3.15%	+0.23%
1Y CAGR	+4.56%	+4.48%	+0.08%
3Y CAGR	+6.74%	+6.65%	+0.09%
5Y CAGR	+5.77%	+5.91%	-0.14%

Category average across peers in Banking and PSU Fund (up to 19 funds with data), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).

Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.

Category rank

Vs 19 peers in Banking and PSU Fund

1Y return

+4.56%

Beats 73.7% · rank #6

3Y return

+6.74%

Beats 66.7% · rank #7

5Y return

+5.77%

Beats 37.5% · rank #11

Sharpe

0.22

Beats 66.7% · rank #7

Sortino

0.32

Beats 66.7% · rank #7

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹7.00L

Absolute

+16.68%

XIRR

+6.30%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into LIC MF Banking & PSU Debt Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.

Calendar-year returns

What the fund actually returned in each year, not the smoothed average.

Year	Fund
2026part	+3.51%
2025	+7.49%
2024	+7.78%
2023	+6.51%
2022	+3.06%
2021	+2.57%
2020	+8.56%
2019	+9.86%
2018	+7.20%
2017	+6.13%

January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in.

History points

4,667

Expense ratio

0.65%

YTM

6.99%

Macaulay duration

1.80 years

Average maturity

2.38 years

Exit load

Nil

Taxation

Taxed as debt

This is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — every rupee of gain is added to your income and taxed at your income-tax slab rate, whatever the holding period.

Any holding period

30%

Short- and long-term alike

Your income-tax slab — no LTCG or indexation benefit

Your income-tax slab

Pick your slab to see the rate that applies to you.

Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.

Peer comparison · Banking and PSU Fund

Compare all


LIC MF Banking & PSU Debt FundThis fund LIC · Regular · Growth	★★★☆☆	+4.56%	+6.74%	+5.77%	—	0.65%	—
UTI Banking & PSU Debt Fund UTI · Regular · Growth	★★★★★	+5.73%	+7.16%	+7.50%	—	0.47%	—
Franklin India Banking & PSU Debt Fund Franklin Templeton · Regular · Growth	★★★★☆	+5.74%	+7.13%	+6.14%	—	0.49%	₹1.11Cr
Sundaram Banking and PSU Debt Fund Sundaram · Regular · Growth	★★★★★	+4.56%	+6.85%	+5.88%	—	0.42%	—
Kotak Banking and PSU Debt Fund Kotak Mahindra · Regular · Growth	★★★★☆	+4.77%	+6.84%	+5.99%	—	0.75%	₹5,070Cr
Bandhan Banking and PSU Debt Fund Bandhan · Regular · Growth	★★★★☆	+5.21%	+6.79%	+5.97%	—	0.68%	—

Asset allocation

As on 30 Sep 2026 · AMC disclosure

Debt94.42%
Cash & Equivalents5.06%
Other0.34%

Worst falls, and the wait to get back

How far this fund has dropped from a high, and how long it took to reclaim it.

-5.8%08 Apr 2010 → 09 Apr 2010
Fell over 1 day, back to the old high on 08 Apr 2011 — 12 months under water after the low.

Measured on this fund’s own NAV history, peak to trough to the day it regained the peak. Falls shallower than 5% are left out. A recovery date is when the NAV got back, not when any particular investor did — that depends on when they bought.

AMC Profile

LIC Mutual Fund is sponsored by the Life Insurance Corporation of India and has been in business since 1989. It absorbed IDBI Mutual Fund's schemes in 2023 and runs a mix of equity, debt and index funds.

Launched

19 Apr 1994

Total AUM

₹49,535Cr+6.6% QoQ

Avg AUM · April - June 2026

Website

licmf.com

Fund Managers

PSPratik Harish ShroffManaging since 26 Sep 2023

Role

Fund Manager – Fixed Income

Experience

Over 18 years of experience in the Banking and Financial Services Industry. • Fund Manager (Fixed Income)- LIC Mutual Fund Asset Management Ltd. (with effect from 18th September 2023) • Senior Associate Director Treasury – CTBC Bank LTD (February 2023 to September 2023) • Deputy Vice president GMG – IndusInd Bank Limited (August 2021 to February 2023) • Vice President Treasury – Industrial and Commercial Bank of China (November 2018 to August 2021) • Dealer Fixed Income – Tata Mutual Fund (October 2012 to November 2018) • Associate Vice President – LKP Securities (May 2007 – October 2012)

Funds managed (15)

All schemes Pratik Harish Shroff runs →

RSRahul SinghStart date not disclosed

Role

Senior Fund Manager – Debt

Education

• Bsc. Economics Hons., • PGDM (MBA) – IIM Ahmedabad debt

Experience

Around 21 years experience in Financial Services Industry • Senior Fund Manager, Fixed Income – LIC Mutual Fund (w.e.f. 17/05/2021) • Fund Manager, Fixed Income - LIC Mutual Fund (07/09/2015 16/05/2021) • Dealer - Fixed Income - BOI AXA Investment Managers (August 2009 August 2015) • Credit Analyst – ING Investment Management (May 2008 – August 2009) • Internship – Standard Chartered Bank (April 2007 – May 2007) • Research Analyst Ashika Capital (Jan 2004 to April 2006)

Funds managed (10)

All schemes Rahul Singh runs →

Fund manager, benchmark and dealing terms from this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.

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Fund managers

Pratik Harish Shroff Rahul Singh

LIC in the news

Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.

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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.

About Banking & PSU funds

Banking and PSU funds must keep at least 80% in the debt of banks, public sector undertakings, public financial institutions and municipal bonds. That issuer restriction is the category: it targets high-rated, quasi-sovereign borrowers, so credit risk is low and the main risk left is interest rates.

Frequently asked questions

What is the NAV of LIC MF Banking & PSU Debt Fund?

As of 05 Oct 2026, the NAV of LIC MF Banking & PSU Debt Fund is ₹37.00 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has LIC MF Banking & PSU Debt Fund delivered?

LIC MF Banking & PSU Debt Fund has returned +4.56% over 1 year, +6.74% per year over 3 years, +5.77% per year over 5 years and +7.00% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

What is the expense ratio of LIC MF Banking & PSU Debt Fund?

LIC MF Banking & PSU Debt Fund charges an expense ratio of 0.65% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

What are the top holdings of LIC MF Banking & PSU Debt Fund?

LIC MF Banking & PSU Debt Fund's largest holdings are 8.09% NLC India Ltd. (3.9%), 8.14% Nuclear Power Corporation (3.8%), 8.37% National Highways Authority of India (3.4%), 7.83% Small Industries Development Bk of India (3.3%) and 7.75% Bharti Telecom Ltd. (3.2%). Holdings are disclosed monthly and change over time.

How risky is LIC MF Banking & PSU Debt Fund?

LIC MF Banking & PSU Debt Fund is rated low to moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.1% and its worst peak-to-trough fall in our sample was -5.8%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What does the Sharpe ratio of 0.22 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. LIC MF Banking & PSU Debt Fund's 0.22 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of LIC MF Banking & PSU Debt Fund?

LIC MF Banking & PSU Debt Fund is benchmarked against the NIFTY Banking & PSU Debt Index A-II. Its alpha and beta on this page are measured against that index.

Who manages LIC MF Banking & PSU Debt Fund?

LIC MF Banking & PSU Debt Fund is managed by Pratik Harish Shroff and Rahul Singh at LIC.

How is LIC MF Banking & PSU Debt Fund taxed?

LIC MF Banking & PSU Debt Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.