Bandhan Financial Services Fund - Regular Plan - Growth

Regular

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.
Direct

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.

Portfolio Turnover Ratio : 56.00%. Category average turnover ratio is 153.01%. Fund manager updated portfolio less frequently than peers in last 1 year. (I.e. fund manager held stocks/bonds in the portfolio for longer duration than peers)

Equity Holding : 94.88% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 94.88%

No of Stocks : 44 (Category Avg - 44.44) | Large Cap Investments : 35.06%| Mid Cap Investments : 12.72% | Small Cap Investments : 4.66% | Other : 42.44%

Portfolio Summary (as on 31st Oct,2025)

Particulars	This Scheme	Category
No. of Stocks	44	43.41
Top 5 Stock Weight	49.09%	32.46%
Top 10 Stock Weight	60.29%	49.59%
Top 3 Sector Weight	70.54%	43.5%

Category - Sectoral/Thematic

Particulars	This Scheme	Category
Average mcap (Cr)	77666.02	72450.77
Holdings in large cap stocks	35.06%	37.14%
Holdings in mid cap stocks	12.72%	14.47%
Holdings in small cap stocks	4.66%	13.1%

Category - Sectoral/Thematic

Top 10 Stocks holding in Portfolio (as on 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
HDFC Bank Ltd.	Private sector bank	2187	19.80%	0.16%	20.1% (Aug 2025)	14.95% (Nov 2024)	22.15 L	33.71 k
ICICI Bank Ltd.	Private sector bank	1733.9	15.70%	1.93%	16.36% (Apr 2025)	13.77% (Sep 2025)	12.89 L	2.10 L
Axis Bank Ltd.	Private sector bank	588.5	5.33%	-1.27%	10.11% (Feb 2025)	5.33% (Oct 2025)	4.77 L	-1.39 L
Kotak Mahindra Bank Ltd.	Private sector bank	513.6	4.65%	0.42%	5.32% (Nov 2024)	3.75% (Jul 2025)	2.44 L	20.00 k
Bajaj Finance Ltd.	Non banking financial company (nbfc)	399.2	3.61%	-0.44%	4.39% (Mar 2025)	1.92% (Nov 2024)	3.83 L	-0.45 L
Max Financial Services Ltd.	Life insurance	272.7	2.47%	-0.50%	3.21% (Jun 2025)	1.06% (Nov 2024)	1.76 L	-0.23 L
One 97 Communications Ltd.	Financial technology (fintech)	267.7	2.42%	0.47%	2.42% (Oct 2025)	1.58% (Mar 2025)	2.05 L	22.25 k
State Bank Of India	Public sector bank	249.4	2.26%	-0.03%	2.29% (Sep 2025)	0% (Nov 2024)	2.66 L	-0.11 L
Cholamandalam Investment & Finance Co. Ltd.	Non banking financial company (nbfc)	228.2	2.07%	-1.73%	3.95% (Feb 2025)	2.07% (Oct 2025)	1.34 L	-1.15 L
PB Fintech Ltd.	Financial technology (fintech)	219	1.98%	-0.07%	3% (Dec 2024)	1.92% (Jun 2025)	1.23 L	-4.53 k

- indicates change in weight in the portfolio. # indicates a new entry.

View complete holding

Complete equity Portfolio (as on 31st Oct,2025)

None
Sector
M-Cap

Help me understand this table

Stock Invested in	Sector	Sector Total	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty	M-Cap	GroupName
HDFC Bank Ltd.	Private sector bank	50.86	2187	19.80%	0.16%	20.1% (Aug 2025)	14.95% (Nov 2024)	22.15 L	33.71 k	Other	42.44
ICICI Bank Ltd.	Private sector bank	50.86	1733.9	15.70%	1.93%	16.36% (Apr 2025)	13.77% (Sep 2025)	12.89 L	2.10 L	Large Cap	35.06
Axis Bank Ltd.	Private sector bank	50.86	588.5	5.33%	-1.27%	10.11% (Feb 2025)	5.33% (Oct 2025)	4.77 L	-1.39 L	Large Cap	35.06
Kotak Mahindra Bank Ltd.	Private sector bank	50.86	513.6	4.65%	0.42%	5.32% (Nov 2024)	3.75% (Jul 2025)	2.44 L	20.00 k	Large Cap	35.06
Bajaj Finance Ltd.	Non banking financial company (nbfc)	12.84	399.2	3.61%	-0.44%	4.39% (Mar 2025)	1.92% (Nov 2024)	3.83 L	-0.45 L	Other	42.44
Max Financial Services Ltd.	Life insurance	6.84	272.7	2.47%	-0.50%	3.21% (Jun 2025)	1.06% (Nov 2024)	1.76 L	-0.23 L	Mid Cap	12.72
One 97 Communications Ltd.	Financial technology (fintech)	4.4	267.7	2.42%	0.47%	2.42% (Oct 2025)	1.58% (Mar 2025)	2.05 L	22.25 k	Other	42.44
State Bank Of India	Public sector bank	3.07	249.4	2.26%	-0.03%	2.29% (Sep 2025)	0% (Nov 2024)	2.66 L	-0.11 L	Large Cap	35.06
Cholamandalam Investment & Finance Co. Ltd.	Non banking financial company (nbfc)	12.84	228.2	2.07%	-1.73%	3.95% (Feb 2025)	2.07% (Oct 2025)	1.34 L	-1.15 L	Other	42.44
PB Fintech Ltd.	Financial technology (fintech)	4.4	219	1.98%	-0.07%	3% (Dec 2024)	1.92% (Jun 2025)	1.23 L	-4.53 k	Other	42.44
LIC Housing Finance Ltd.	Housing finance company	4.74	199.8	1.81%	-0.06%	1.94% (Jul 2025)	0% (Nov 2024)	3.50 L	0.00	Mid Cap	12.72
RBL Bank Ltd.	Private sector bank	50.86	185.6	1.68%	-0.21%	2.02% (Aug 2025)	0% (Nov 2024)	5.69 L	-1.50 L	Mid Cap	12.72
Mahindra & Mahindra Financial Services Ltd.	Non banking financial company (nbfc)	12.84	177.1	1.60%	0.32%	1.6% (Oct 2025)	0.65% (Apr 2025)	5.61 L	71.11 k	Mid Cap	12.72
IDFC First Bank Ltd.	Private sector bank	50.86	176.6	1.60%	0.09%	1.6% (Oct 2025)	0% (Nov 2024)	21.60 L	-1.25 L	Mid Cap	12.72
SBI Life Insurance Co Ltd.	Life insurance	6.84	174.2	1.58%	0.07%	1.58% (Oct 2025)	0.88% (Dec 2024)	89.08 k	0.00	Large Cap	35.06
Angel One Ltd.	Stockbroking & allied	2.15	165.5	1.50%	0.85%	1.5% (Oct 2025)	0% (Nov 2024)	66.39 k	34.19 k	Other	42.44
ICICI Prudential Life Insurance Co Ltd.	Life insurance	6.84	165.2	1.50%	0.19%	1.6% (May 2025)	0.88% (Feb 2025)	2.79 L	46.30 k	Large Cap	35.06
- Jio Financial Services Ltd.	Non banking financial company (nbfc)	12.84	163.8	1.48%	0.00%	3.15% (Nov 2024)	1.48% (Oct 2025)	5.34 L	0.00	Other	42.44
ICICI Lombard General Insurance Co Ltd.	General insurance	2.67	155.9	1.41%	0.01%	1.41% (Oct 2025)	0.94% (Dec 2024)	78.21 k	0.00	Large Cap	35.06
Can Fin Homes Ltd.	Housing finance company	4.74	151.8	1.37%	0.06%	1.48% (May 2025)	0.66% (Dec 2024)	1.75 L	-6.00 k	Small Cap	4.66
HDFC Life Insurance Company Ltd.	Life insurance	6.84	142.7	1.29%	-0.11%	1.46% (Aug 2025)	0.97% (Dec 2024)	1.95 L	0.00	Large Cap	35.06
Star Health and Allied Insurance Co Ltd.	General insurance	2.67	139.4	1.26%	0.07%	1.26% (Oct 2025)	0% (Nov 2024)	2.82 L	0.00	Other	42.44
City Union Bank Ltd.	Private sector bank	50.86	137.2	1.24%	-0.02%	1.26% (Sep 2025)	0% (Nov 2024)	6.00 L	-0.23 L	Mid Cap	12.72
Aadhar Housing Finance Ltd.	Housing finance company	4.74	122.3	1.11%	-0.10%	1.22% (Aug 2025)	0% (Nov 2024)	2.40 L	-0.10 L	Other	42.44
HDB Financial Services Ltd.	Non banking financial company (nbfc)	12.84	121.2	1.10%	-0.17%	1.27% (Sep 2025)	0% (Nov 2024)	1.66 L	-0.13 L	Other	42.44
Fusion Finance Ltd.	Microfinance institutions	1.98	118.8	1.08%	-0.02%	1.1% (Sep 2025)	0% (Nov 2024)	6.52 L	47.98 k	Other	42.44
Shriram Finance Ltd.	Non banking financial company (nbfc)	12.84	118.2	1.07%	0.16%	3.42% (May 2025)	0.91% (Sep 2025)	1.58 L	2.21 k	Other	42.44
Ujjivan Small Finance Bank Ltd.	Other bank	0.98	108.1	0.98%	0.02%	0.98% (Oct 2025)	0% (Nov 2024)	20.86 L	-1.00 L	Other	42.44
Cholamandalam Financial Holdings Ltd.	Investment company	0.95	104.7	0.95%	-0.03%	1.23% (Nov 2024)	0.6% (May 2025)	54.77 k	0.00	Small Cap	4.66
CreditAccess Grameen Ltd.	Microfinance institutions	1.98	98.9	0.90%	0.09%	1.01% (Aug 2025)	0% (Nov 2024)	69.50 k	6.00 k	Small Cap	4.66
UTI Asset Management Co. Pvt. Ltd.	Asset management company	1.4	96.6	0.87%	-0.09%	1.23% (Dec 2024)	0.87% (Oct 2025)	77.41 k	0.00	Other	42.44
DCB Bank Ltd.	Private sector bank	50.86	94.7	0.86%	0.10%	0.86% (Oct 2025)	0% (Nov 2024)	6.00 L	-0.35 L	Small Cap	4.66
Bank Of Baroda	Public sector bank	3.07	89.2	0.81%	0.03%	0.81% (Oct 2025)	0% (Nov 2024)	3.20 L	0.00	Large Cap	35.06
CRISIL Ltd.	Other financial services	0.79	87.8	0.79%	0.04%	1.43% (Dec 2024)	0.75% (Sep 2025)	17.81 k	0.00	Mid Cap	12.72
Muthoot Finance Pvt. Ltd.	Non banking financial company (nbfc)	12.84	79.7	0.72%	-0.01%	0.73% (Sep 2025)	0% (Nov 2024)	25.07 k	0.00	Mid Cap	12.72
Bajaj Finserv Ltd	Holding company	0.68	75.6	0.68%	-0.01%	1% (Feb 2025)	0.67% (Aug 2025)	36.19 k	0.00	Other	42.44
Edelweiss Securities Pvt. Ltd.	Stockbroking & allied	2.15	71.9	0.65%	0.04%	0.69% (Jul 2025)	0% (Nov 2024)	10.14 k	0.00	Other	42.44
Sundaram Finance Limited	Non banking financial company (nbfc)	12.84	69.1	0.63%	-0.12%	1.02% (Jan 2025)	0.63% (May 2025)	15.03 k	-2.89 k	Mid Cap	12.72
SBI Cards and Payment Services Ltd.	Non banking financial company (nbfc)	12.84	62	0.56%	-0.38%	2.06% (Feb 2025)	0.56% (Oct 2025)	70.60 k	-0.42 L	Other	42.44
# HDFC Asset Management Co. Ltd.	Asset management company	1.4	58.6	0.53%	0.53%	0.53% (Oct 2025)	0% (Nov 2024)	10.88 k	10.88 k	Large Cap	35.06
# BSE Ltd.	Exchange and data platform	0.31	33.9	0.31%	0.31%	2.06% (Dec 2024)	0% (Nov 2024)	13.67 k	13.67 k	Small Cap	4.66
Repco Home Finance Ltd.	Housing finance company	4.74	29.3	0.27%	0.03%	1.56% (Nov 2024)	0.23% (Aug 2025)	69.96 k	0.00	Small Cap	4.66
# Prudent Corporate Advisory Services Ltd.	Financial products distributor	0.22	24.5	0.22%	0.22%	2.37% (Nov 2024)	0% (Nov 2024)	9.57 k	9.57 k	Other	42.44
# Aavas Financiers Ltd.	Housing finance company	4.74	19.4	0.18%	0.18%	1.39% (Mar 2025)	0% (Nov 2024)	11.75 k	11.75 k	Mid Cap	12.72
Seshaasai Technologies Ltd.	Financial technology (fintech)	4.4	6	0.00%	-0.06%	-	-	-	-	Other	42.44

- indicates change in weight in the portfolio. # indicates a new entry.

New Stocks added in Portfolio (in 1 month period ending 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
# Aavas Financiers Ltd.	Housing finance company	19.4	0.18%	0.18%	1.39% (Mar 2025)	0% (Nov 2024)	11.75 k	11751
# HDFC Asset Management Co. Ltd.	Asset management company	58.6	0.53%	0.53%	0.53% (Oct 2025)	0% (Nov 2024)	10.88 k	10884
# Cash and Bank	Other	0.9	0.01%	0.01%	0% (Nov 2025)	0% (Nov 2025)	0.00	0
# BSE Ltd.	Exchange and data platform	33.9	0.31%	0.31%	2.06% (Dec 2024)	0% (Nov 2024)	13.67 k	13674
# Prudent Corporate Advisory Services Ltd.	Financial products distributor	24.5	0.22%	0.22%	2.37% (Nov 2024)	0% (Nov 2024)	9.57 k	9567

Stocks removed from Portfolio (in 1 month period ending 31st Oct,2025)

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
Seshaasai Technologies Ltd.	Financial technology (fintech)	6	0.00%	-0.06%	0.06% (Sep 2025)	0% (Nov 2024)	0.00	-14525

Trend in stock holdings (Top 15 Holding)

Stock	Oct 2025	Sep 2025	Aug 2025	Jul 2025	Jun 2025	May 2025	Apr 2025	Mar 2025	Feb 2025	Jan 2025	Dec 2024	Nov 2024	Oct 2024
HDFC Bank Ltd.	19.80%	19.64%	20.10%	19.16%	18.98%	19.85%	20.05%	19.66%	19.99%	16.22%	15.24%	14.95%	14.55%
ICICI Bank Ltd.	15.70%	13.77%	14.60%	15.10%	14.83%	16.08%	16.36%	15.46%	14.58%	14.80%	14.61%	14.82%	14.84%
Axis Bank Ltd.	5.33%	6.60%	7.15%	6.90%	8.51%	9.22%	9.45%	9.42%	10.11%	8.27%	8.11%	8.66%	8.90%
Kotak Mahindra Bank Ltd.	4.65%	4.23%	3.97%	3.75%	3.94%	4.22%	4.63%	4.75%	4.47%	4.36%	3.95%	5.32%	5.25%
Cholamandalam Investment & Finance Co. Ltd.	2.07%	3.80%	3.43%	3.30%	3.45%	3.70%	3.69%	3.81%	3.95%	3.54%	3.15%	3.28%	3.41%
Bajaj Finance Ltd.	3.61%	4.05%	3.73%	3.51%	3.36%	3.75%	3.82%	4.39%	4.11%	2.43%	1.99%	1.92%	2.02%
Shriram Finance Ltd.	1.07%	0.91%	0.97%	2.57%	3.33%	3.42%	3.37%	2.78%	3.08%	2.65%	2.72%	2.84%	2.97%
Max Financial Services Ltd.	2.47%	2.97%	3.09%	3.01%	3.21%	3.06%	2.84%	2.37%	1.99%	1.59%	1.54%	1.06%	1.20%
Jio Financial Services Ltd.	1.48%	1.48%	1.61%	1.66%	2.58%	2.53%	2.37%	2.16%	2.12%	2.40%	2.87%	3.15%	3.11%
PB Fintech Ltd.	1.98%	2.05%	1.98%	2.16%	1.92%	2.02%	2.02%	1.95%	1.93%	2.22%	3.00%	2.70%	2.44%
One 97 Communications Ltd.	2.42%	1.95%	2.14%	2.03%	1.86%	1.99%	1.92%	1.58%	1.75%	1.86%	2.23%	1.98%	1.68%
Aditya Birla Sun Life AMC Ltd.	-	-	-	-	-	-	-	-	0.74%	1.50%	2.49%	2.57%	2.38%
RBL Bank Ltd.	1.68%	1.89%	2.02%	2.01%	-	-	-	-	-	-	-	-	-
LIC Housing Finance Ltd.	1.81%	1.87%	1.88%	1.94%	-	-	-	-	-	-	-	-	-
Prudent Corporate Advisory Services Ltd.	0.22%	-	-	-	-	-	-	-	-	1.64%	2.13%	2.37%	2.44%