There is one ETF and Two Mutual Fund Schemes in this class. 2009 being the target RBI has kept for creating level playing field in the banking industry, more action is awaited in this class of mutual fund products.
Reliance Banking Sector Fund entered in 2003 and 2004 saw entry of UTI Banking sector Fund and the ETF called BankBeEs
First two take 2.25% entry load; Expense ratio is 2.5% for UTI and 2.21% for Relinace; Both put together size is less than 200 croes but bankBees assumes above 3300 crores(30April 2007)!!
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