{"id":250071,"date":"2026-09-16T16:14:18","date_gmt":"2026-09-16T10:44:18","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/mirae-asset-banking-and-psu-debt-fund-direct-growth-review-2026\/"},"modified":"2026-09-16T16:14:18","modified_gmt":"2026-09-16T10:44:18","slug":"mirae-asset-banking-and-psu-debt-fund-direct-growth-review-2026","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/mirae-asset-banking-and-psu-debt-fund-direct-growth-review-2026\/","title":{"rendered":"Mirae Asset Banking and PSU Debt Fund Direct Growth Review 2026: NAV, Returns, Portfolio &#038; Should You Invest?"},"content":{"rendered":"<p><a href=\"https:\/\/univest.in\/mutual-funds\/mirae-asset-banking-and-psu-debt-fund-g-direct-plan\">Mirae Asset Banking and PSU Debt Fund Direct Growth Plan<\/a> has a NAV of \u20b914.0296 as of 15 Sep 2026 and an AUM of \u20b939 Cr. Its 1-year, 3-year and 5-year returns are 4.8%, 6.88% and 5.89%, and the scheme carries a Medium Risk label. Our view is that it fits investors who want a debt-oriented portfolio with a clear banking-and-PSU bias, moderate return stability and a relatively low-cost structure.<\/p>\n<p>The fund has stayed ahead of its benchmark over the medium term, but the recent 1-year return is more subdued than the 3-year track. That combination points to a scheme that may suit conservative investors with a medium-to-long horizon, especially those who can accept some year-to-year variation in exchange for a portfolio built around debt securities, certificates of deposit and cash equivalents.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-banking-and-psu-debt-fund-direct-growth-review-2026\/#Quick_facts\" title=\"Quick facts\">Quick facts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-banking-and-psu-debt-fund-direct-growth-review-2026\/#Performance\" title=\"Performance\">Performance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-banking-and-psu-debt-fund-direct-growth-review-2026\/#Should_you_BUY_or_HOLD_Mirae_Asset_Banking_and_PSU_Debt\" title=\"Should you BUY or HOLD Mirae Asset Banking and PSU Debt?\">Should you BUY or HOLD Mirae Asset Banking and PSU Debt?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-banking-and-psu-debt-fund-direct-growth-review-2026\/#Peer_comparison\" title=\"Peer comparison\">Peer comparison<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-banking-and-psu-debt-fund-direct-growth-review-2026\/#Portfolio_where_your_money_goes\" title=\"Portfolio: where your money goes\">Portfolio: where your money goes<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-banking-and-psu-debt-fund-direct-growth-review-2026\/#Who_should_invest\" title=\"Who should invest\">Who should invest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-banking-and-psu-debt-fund-direct-growth-review-2026\/#Tax_and_exit_load\" title=\"Tax and exit load\">Tax and exit load<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-banking-and-psu-debt-fund-direct-growth-review-2026\/#Frequently_asked_questions\" title=\"Frequently asked questions\">Frequently asked questions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-banking-and-psu-debt-fund-direct-growth-review-2026\/#Bottom_line\" title=\"Bottom line\">Bottom line<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-banking-and-psu-debt-fund-direct-growth-review-2026\/#Explore_mutual_funds_with_Univest\" title=\"Explore mutual funds with Univest\">Explore mutual funds with Univest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/mirae-asset-banking-and-psu-debt-fund-direct-growth-review-2026\/#RIA_disclosure\" title=\"RIA disclosure\">RIA disclosure<\/a><\/li><\/ul><\/nav><\/div>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Quick_facts\"><\/span>Quick facts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Particular<\/th>\n<th>Details<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>NAV<\/td>\n<td>\u20b914.0296 as of 15 Sep 2026<\/td>\n<\/tr>\n<tr>\n<td>AUM<\/td>\n<td>\u20b939 Cr<\/td>\n<\/tr>\n<tr>\n<td>Expense Ratio<\/td>\n<td>0.36%<\/td>\n<\/tr>\n<tr>\n<td>Launch Date<\/td>\n<td>24 Jul 2020<\/td>\n<\/tr>\n<tr>\n<td>Min SIP<\/td>\n<td>\u20b999<\/td>\n<\/tr>\n<tr>\n<td>Risk Category<\/td>\n<td>Medium Risk<\/td>\n<\/tr>\n<tr>\n<td>Benchmark<\/td>\n<td>Nifty 50<\/td>\n<\/tr>\n<tr>\n<td>Fund Category<\/td>\n<td>Debt<\/td>\n<\/tr>\n<tr>\n<td>Exit Load<\/td>\n<td>No exit load<\/td>\n<\/tr>\n<tr>\n<td>Fund Managers<\/td>\n<td>Kruti Chheta<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The fund is managed by Kruti Chheta.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 15 Sep 2026<\/small><\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Performance\"><\/span>Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Period<\/th>\n<th>Fund return<\/th>\n<th>Benchmark return<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>1M<\/td>\n<td>-0.16%<\/td>\n<td>-4.81%<\/td>\n<\/tr>\n<tr>\n<td>3M<\/td>\n<td>1.12%<\/td>\n<td>-3.63%<\/td>\n<\/tr>\n<tr>\n<td>1Y<\/td>\n<td>4.8%<\/td>\n<td>-8.27%<\/td>\n<\/tr>\n<tr>\n<td>3Y<\/td>\n<td>6.88%<\/td>\n<td>5.59%<\/td>\n<\/tr>\n<tr>\n<td>5Y<\/td>\n<td>5.89%<\/td>\n<td>5.58%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Short-term behaviour has been mixed, but not weak in absolute terms. Over 1 month the fund was slightly negative, yet that still compares better than the benchmark\u2019s deeper decline. Over 3 months, the fund moved into positive territory while the benchmark stayed negative, which tells us the recent path has been steadier than the benchmark even if it is not a straight line.<\/p>\n<p>The 1-year return is the clearest sign of relative resilience. At 4.8%, the fund stayed positive while the benchmark fell sharply, so the scheme has held up much better over that window. That said, the 1-year figure is lower than the 3-year return, which suggests the more recent environment has been less supportive than the prior multi-year stretch.<\/p>\n<p>The longer view is constructive. The 3-year return of 6.88% and the 5-year return of 5.89% both sit above the benchmark\u2019s 5.59% and 5.58% respectively. Our read is that the fund has delivered a reasonably consistent debt-style compounding pattern over time, with the 3-year period showing the better stretch and the 5-year figure remaining close to it. The recent dip in the 1-year number does not overturn that trend, but it does show that returns are still sensitive to the prevailing rate and credit backdrop.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 15 Sep 2026<\/small><\/p>\n<section class=\"univest-mf-premium-cta\" style=\"margin:28px 0;padding:24px;border-radius:10px;border:1px solid #d8e3f0;background:#f7faff\">\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Should_you_BUY_or_HOLD_Mirae_Asset_Banking_and_PSU_Debt\"><\/span>Should you BUY or HOLD Mirae Asset Banking and PSU Debt?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A fund&#8217;s past returns alone don&#8217;t tell you whether you should buy it today or continue holding it.<\/p>\n<p>The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.<\/p>\n<p><strong>Already holding Mirae Asset Banking and PSU Debt? Thinking of investing now?<\/strong><\/p>\n<p><a href=\"https:\/\/univest.in\/mutual-funds\" style=\"font-weight:700;text-decoration:none\">Get your portfolio analysed for FREE by SEBI-registered Investment Adviser (RIA) through Univest MF Premium<\/a><\/p>\n<\/section>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Peer_comparison\"><\/span>Peer comparison<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Fund<\/th>\n<th>1Y return<\/th>\n<th>3Y return<\/th>\n<th>5Y return<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/mirae-asset-banking-and-psu-debt-fund-g-direct-plan\">Mirae Asset Banking and PSU Debt Fund Direct Growth Plan<\/a><\/td>\n<td>4.8%<\/td>\n<td>6.88%<\/td>\n<td>5.89%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/trustmf-banking-and-psu-fund-g-direct-plan\">TRUSTMF Banking &amp; PSU Fund Direct Growth Plan<\/a><\/td>\n<td>7.26%<\/td>\n<td>7.52%<\/td>\n<td>6.17%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/franklin-india-banking-and-psu-debt-fund-g-direct-plan\">Franklin India Banking &amp; PSU Debt Fund Direct Growth Plan<\/a><\/td>\n<td>6.51%<\/td>\n<td>7.51%<\/td>\n<td>6.4%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/uti-banking-and-psu-debt-fund-g-direct-plan\">UTI Banking &amp; PSU Debt Fund Direct Growth Plan<\/a><\/td>\n<td>6.21%<\/td>\n<td>7.45%<\/td>\n<td>7.7%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/bandhan-banking-and-psu-debt-fund-g-direct-plan\">Bandhan Banking and PSU Debt Fund Direct Growth Plan<\/a><\/td>\n<td>5.79%<\/td>\n<td>7.14%<\/td>\n<td>6.22%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/icici-pru-banking-and-psu-debt-fund-g-direct-plan\">ICICI Pru Banking and PSU Debt Fund Direct Growth Plan<\/a><\/td>\n<td>5.66%<\/td>\n<td>7.2%<\/td>\n<td>6.63%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.<\/p>\n<p>Mirae Asset Banking and PSU Debt Fund Direct Growth Plan looks a little softer than the peer set on the latest 1-year figure, but the gap is less pronounced over the longer windows. Its 3-year and 5-year returns remain broadly competitive, though several peers have delivered stronger numbers on both the medium and longer horizons. The short-term and long-term pictures therefore differ: the fund appears more restrained recently, while its multi-year path remains serviceable for a debt-focused strategy.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 15 Sep 2026<\/small><\/p>\n<div class=\"univest-peer-login-cta\" style=\"margin:20px 0;padding:16px 18px;border:1px solid #d8e3f0;border-radius:8px;background:#f7faff\">\n<p style=\"margin:0\"><strong>Want to know more?<\/strong> <a href=\"https:\/\/univest.in\/user\/log-in\" style=\"font-weight:700;text-decoration:none\">Log in to Univest<\/a> for more mutual fund insights.<\/p>\n<\/div>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Portfolio_where_your_money_goes\"><\/span>Portfolio: where your money goes<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Holding<\/th>\n<th>Sector<\/th>\n<th>Weight<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>TREPS<\/td>\n<td>Cash &amp; Cash Equivalents and Net Assets<\/td>\n<td>10.35%<\/td>\n<\/tr>\n<tr>\n<td>Kotak Mahindra Bank Ltd. (MD 12\/02\/2027)**#<\/td>\n<td>Certificate of Deposit<\/td>\n<td>7.33%<\/td>\n<\/tr>\n<tr>\n<td>7.57% Indian Railway Finance Corporation Ltd. (MD 18\/04\/2029)**<\/td>\n<td>Corporate Debt<\/td>\n<td>5.04%<\/td>\n<\/tr>\n<tr>\n<td>6.94% Government of India (MD 11\/05\/2036)<\/td>\n<td>Government Securities<\/td>\n<td>5.03%<\/td>\n<\/tr>\n<tr>\n<td>7.23% Export-Import Bank of India (MD 18\/03\/2031)**<\/td>\n<td>Corporate Debt<\/td>\n<td>4.98%<\/td>\n<\/tr>\n<tr>\n<td>6.44% HDFC Bank Ltd. (MD 27\/09\/2028)**<\/td>\n<td>Corporate Debt<\/td>\n<td>4.91%<\/td>\n<\/tr>\n<tr>\n<td>Punjab National Bank (MD 05\/02\/2027)#<\/td>\n<td>Certificate of Deposit<\/td>\n<td>4.89%<\/td>\n<\/tr>\n<tr>\n<td>7.80% HDFC Bank Ltd. (MD 03\/05\/2033)**<\/td>\n<td>Corporate Debt<\/td>\n<td>4.25%<\/td>\n<\/tr>\n<tr>\n<td>7.62% National Bank for Agriculture and Rural Development (MD 10\/05\/2029)**<\/td>\n<td>Corporate Debt<\/td>\n<td>3.76%<\/td>\n<\/tr>\n<tr>\n<td>7.47% Small Industries Development Bank of India (MD 05\/09\/2029)**<\/td>\n<td>Corporate Debt<\/td>\n<td>3.75%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The top 10 holdings account for approximately 54.29% of the portfolio.<\/p>\n<p>To see all holdings, visit the <a href=\"https:\/\/univest.in\/mutual-funds\/mirae-asset-banking-and-psu-debt-fund-g-direct-plan\">Mirae Asset Banking and PSU Debt Fund Direct Growth Plan<\/a> page<\/p>\n<p>The largest holding is TREPS at 10.35%, which gives the portfolio a meaningful liquidity cushion. After that, the allocation steps down to 7.33% in the next holding and then settles into a fairly tight band around the 5% area for several positions. That shape suggests the fund is not relying on a single dominant security, even though the cash-and-liquid slice is the largest visible line item.<\/p>\n<p>The gap from the largest holding to the tenth is moderate rather than extreme. This implies the portfolio may have several positions that could influence returns, with no single bond-like exposure overwhelmingly controlling the outcome among the disclosed names. The mix also includes certificates of deposit, government securities and corporate debt, which can help spread the profile across different issuer types.<\/p>\n<p>Because the top 10 account for 54.29% of the portfolio and 28 holdings are disclosed in total, the fund appears to combine a visible core with a longer tail of smaller positions. That does not eliminate concentration risk, but it does indicate that the disclosed portfolio is distributed across more than just a handful of instruments. Our view is that this kind of structure may appeal to investors who prefer a debt fund with multiple issuers and a cash buffer rather than a very narrow construction.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 15 Sep 2026<\/small><\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Who_should_invest\"><\/span>Who should invest<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This fund is better suited to investors who are comfortable with a Medium Risk debt scheme and want a relatively steady return profile rather than equity-like growth. The 3-year and 5-year figures suggest the strategy has been able to compound at a reasonable pace, while the benchmark comparison shows it has handled recent market conditions more calmly than the index. The trade-off is that recent performance has been softer than the 3-year run, so the experience may not feel smooth in every period.<\/p>\n<p>We think the natural fit is a medium-to-long horizon investor who can tolerate some fluctuation in exchange for exposure to banking, PSU and sovereign-linked debt instruments. The portfolio mix and cash allocation may help limit day-to-day volatility, but investors still need to accept that returns can vary across rate cycles. If the goal is simply capital stability with some income-oriented growth potential, this fund can be relevant; if the goal is very high return consistency across all windows, the recent numbers show that it is not immune to uneven patches.<\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Tax_and_exit_load\"><\/span>Tax and exit load<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Holding period<\/th>\n<th>Tax rate<\/th>\n<th>Description<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Units held less than 1 year<\/td>\n<td>20%<\/td>\n<td>Short-term capital gains tax<\/td>\n<\/tr>\n<tr>\n<td>Units held more than 1 year<\/td>\n<td>12.5%<\/td>\n<td>Long-term capital gains tax<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Exit load: No exit load.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 15 Sep 2026<\/small><\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Frequently_asked_questions\"><\/span>Frequently asked questions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>What is the current NAV of Mirae Asset Banking and PSU Debt Fund Direct Growth Plan?<\/strong><br \/>The NAV is \u20b914.0296 as of 15 Sep 2026.<\/p>\n<p><strong>What are the fund\u2019s 1-year, 3-year and 5-year returns?<\/strong><br \/>Its 1-year return is 4.8%, the 3-year return is 6.88% and the 5-year return is 5.89%.<\/p>\n<p><strong>How has the fund performed against its benchmark?<\/strong><br \/>It has done better than the benchmark over 1 month, 3 months, 1 year, 3 years and 5 years. The gap is especially clear over the 1-year period, where the fund stayed positive while the benchmark was negative.<\/p>\n<p><strong>How does it compare with peer funds on returns?<\/strong><br \/>Its latest 1-year return is below several peers in the comparison set, while its 3-year and 5-year numbers remain broadly competitive. The shorter-term and longer-term views do not tell exactly the same story.<\/p>\n<p><strong>Is there a minimum SIP amount mentioned?<\/strong><br \/>The minimum SIP amount is not listed here. SIPs are allowed, but the minimum entry amount is not provided in the fund facts used for this review.<\/p>\n<p><strong>What are the risk, portfolio and exit-load features of the fund?<\/strong><br \/>The fund is marked Medium Risk, with a portfolio that includes TREPS, certificates of deposit, government securities and corporate debt. It has no exit load, and Kruti Chheta is the named fund manager.<\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Bottom_line\"><\/span>Bottom line<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Mirae Asset Banking and PSU Debt Fund Direct Growth Plan shows a mixed recent pattern: the latest 1-year return is softer, but the longer 3-year and 5-year numbers remain constructive and above the benchmark. Against peers, it looks more modest on the recent period while staying broadly in the competitive zone over longer horizons. The risk label is Medium Risk, and the portfolio\u2019s mix of liquid assets, CDs, government securities and corporate debt may help balance the scheme. It suits investors seeking a debt-oriented holding with some diversification across issuers and a moderate return profile.<\/p>\n<p class=\"univest-posted-at\" style=\"font-size:14px;color:#666;margin:20px 0 8px\">Published on 16 September 2026 at 4:13 PM IST<\/p>\n<section class=\"univest-login-cta\" style=\"margin:28px 0;padding:24px;border-radius:10px;background:#eef5ff;border:1px solid #cddff7;text-align:center\">\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Explore_mutual_funds_with_Univest\"><\/span>Explore mutual funds with Univest<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Review mutual fund data, compare performance and explore fund insights on Univest.<\/p>\n<p><a href=\"https:\/\/univest.in\/user\/log-in\" style=\"display:inline-block;padding:11px 20px;border-radius:6px;background:#1f4e79;color:#fff !important;text-decoration:none;font-weight:700\">Explore Univest<\/a><\/p>\n<\/section>\n<section class=\"univest-disclaimer\">\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"RIA_disclosure\"><\/span>RIA disclosure<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.<\/p>\n<\/section>\n<p><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"InvestmentFund\",\"name\":\"Mirae Asset Banking and PSU Debt Fund Direct Growth Plan\",\"identifier\":\"mirae-asset-banking-and-psu-debt-fund-g-direct-plan\",\"category\":\"Debt\",\"dateCreated\":\"24 Jul 2020\",\"isAccessibleForFree\":true,\"additionalProperty\":[{\"@type\":\"PropertyValue\",\"name\":\"NAV\",\"value\":14.0296,\"valueReference\":\"as of 15 Sep 2026\"},{\"@type\":\"PropertyValue\",\"name\":\"AUM\",\"value\":\"39 Cr\"},{\"@type\":\"PropertyValue\",\"name\":\"Expense Ratio\",\"value\":\"0.36\"},{\"@type\":\"PropertyValue\",\"name\":\"Benchmark\",\"value\":\"Nifty 50\"},{\"@type\":\"PropertyValue\",\"name\":\"1Y Return\",\"value\":4.8},{\"@type\":\"PropertyValue\",\"name\":\"3Y Return\",\"value\":6.88},{\"@type\":\"PropertyValue\",\"name\":\"5Y Return\",\"value\":5.89},{\"@type\":\"PropertyValue\",\"name\":\"Fund Managers\",\"value\":\"Kruti Chheta\"}]}<\/script><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the current NAV of Mirae Asset Banking and PSU Debt Fund Direct Growth Plan?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The NAV is \u20b914.0296 as of 15 Sep 2026.\"}},{\"@type\":\"Question\",\"name\":\"What are the fund\u2019s 1-year, 3-year and 5-year returns?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Its 1-year return is 4.8%, the 3-year return is 6.88% and the 5-year return is 5.89%.\"}},{\"@type\":\"Question\",\"name\":\"How has the fund performed against its benchmark?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"It has done better than the benchmark over 1 month, 3 months, 1 year, 3 years and 5 years. The gap is especially clear over the 1-year period, where the fund stayed positive while the benchmark was negative.\"}},{\"@type\":\"Question\",\"name\":\"How does it compare with peer funds on returns?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Its latest 1-year return is below several peers in the comparison set, while its 3-year and 5-year numbers remain broadly competitive. The shorter-term and longer-term views do not tell exactly the same story.\"}},{\"@type\":\"Question\",\"name\":\"Is there a minimum SIP amount mentioned?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The minimum SIP amount is not listed here. SIPs are allowed, but the minimum entry amount is not provided in the fund facts used for this review.\"}},{\"@type\":\"Question\",\"name\":\"What are the risk, portfolio and exit-load features of the fund?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The fund is marked Medium Risk, with a portfolio that includes TREPS, certificates of deposit, government securities and corporate debt. It has no exit load, and Kruti Chheta is the named fund manager.\"}}]}<\/script><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"Organization\",\"name\":\"Uniapps Investment Adviser Pvt. Ltd.\",\"description\":\"SEBI Registered Investment Adviser INA000017639\"}<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mirae Asset Banking and PSU Debt Fund Direct Growth Plan has a NAV of \u20b914.0296 as of 15 Sep 2026, an AUM of \u20b939 Cr and 1Y\/3Y\/5Y returns of 4.8%\/6.88%\/5.89%.<\/p>\n","protected":false},"author":38,"featured_media":250068,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3841],"tags":[],"class_list":["post-250071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mutual-funds"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["250068"],"rank_math_title":["Mirae Asset Banking and PSU Debt Fund Review 2026"],"rank_math_description":["Mirae Asset Banking and PSU Debt Fund Direct Growth Plan NAV is \u20b914.0296; 1Y return is 4.8% as of 15 Sep 2026."],"rank_math_focus_keyword":["Mirae Asset Banking and PSU Debt Fund Direct Growth Plan review"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/09\/Mirae_Asset_Banking_and_PSU_Debt_Fund_Direct_Growth_Review_2026_NAV_Returns_Portfolio_Should_You_Invest_neutral.png","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/250071","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=250071"}],"version-history":[{"count":0,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/250071\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/250068"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=250071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=250071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=250071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}