Top Performing Multi Cap Funds
Ranked by 3-Year CAGR performance across Direct Growth plans from verified AMC filings.
| Scheme Name & AMC | Rating | AUM (₹ Cr) | 1Y Return | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
Axis Multicap Fund Axis Mutual Fund | 4 | ₹11,972 | +5.36% | +17.82% | +0.00% |
WOC Multi Cap Fund WhiteOak Capital Mutual Fund | — | ₹4,385 | +2.46% | +17.03% | +0.00% |
LIC MF Multi Cap Fund LIC Mutual Fund Mutual Fund | 4 | ₹2,187 | +4.34% | +16.61% | +0.00% |
Bank of India Multi Cap Fund Bank of India Investment Managers | — | ₹1,344 | +8.28% | +16.37% | +0.00% |
HSBC Multi Cap Fund HSBC Global Mutual Fund (India) | 5 | ₹6,380 | +3.53% | +16.23% | +0.00% |
Mahindra Manulife Multi Cap Fund Mahindra Manulife Investment Management | 3 | ₹7,457 | +7.57% | +15.94% | +13.56% |
ITI Multi Cap Fund ITI Mutual Fund | 3 | ₹1,500 | +9.19% | +15.76% | +12.67% |
Kotak Multi Cap Fund Kotak Mahindra Mutual Fund | — | ₹30,335 | -0.49% | +15.18% | +15.74% |
Union Multicap Fund Union Mutual Fund | 3 | ₹1,516 | +5.64% | +13.70% | +0.00% |
ICICI Pru Multi Cap Fund ICICI Prudential Mutual Fund | — | ₹18,717 | +1.37% | +13.56% | +12.54% |
Baroda BNP Paribas Multi Cap Fund Baroda BNP Paribas Mutual Fund India | 4 | ₹3,297 | -1.56% | +13.09% | +10.19% |
Aditya Birla SL Multi-Cap Fund Aditya Birla Sun Life Mutual Fund | — | ₹7,531 | +3.25% | +12.97% | +11.10% |
Canara Rob Multi Cap Fund Canara Robeco Mutual Fund | — | ₹5,673 | -1.45% | +12.84% | +0.00% |
Mirae Asset Multicap Fund Mirae Asset Investment Managers (India) | — | ₹5,379 | -1.61% | +12.28% | +0.00% |
Invesco India Multicap Fund Invesco Mutual Fund Pvt | 2 | ₹4,301 | -3.19% | +11.83% | +10.37% |
SEBI Mandate & Category Classification
SEBI mandates that Multi Cap funds maintain a minimum 75% equity allocation, with at least 25% strictly allocated to Large Cap stocks, 25% to Mid Cap stocks, and 25% to Small Cap stocks. The remaining 25% can be deployed dynamically across caps or in debt.
Category Highlights
- Guaranteed 25% allocation to Large, Mid, and Small caps at all times
- True multi-segment diversification in a single fund
- Superior growth potential backed by blue-chip floor
Taxation Rules (Post-Budget 2024)
Equity Taxation: LTCG taxed at 12.5% over ₹1.25 Lakh exemption limit (> 12 months). STCG taxed at 20% (≤ 12 months).
Who Should Invest?
- •Investors who want guaranteed disciplined exposure to all three tiers of the Indian economy.
- •Long-term investors who don’t want fund managers to abandon small/mid caps during market peaks.
Risks to Consider
- •Forced exposure to small caps (min 25%) even during frothy valuations or bear market liquidity dry-ups.
What if you invest ₹10,000/month in Multi Cap Funds?
Projected wealth growth assuming a category benchmark CAGR of 14% compounded monthly:
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Compare asset classes, risk-return profiles, and SEBI regulations across all fund categories in India.
Frequently Asked Questions: Multi Cap Funds
What is the SEBI rule for Multi Cap funds?
Under SEBI rules instituted in 2020, Multi Cap funds must maintain at least 25% in large caps, 25% in mid caps, and 25% in small caps at all times.
How does Multi Cap compare to Flexi Cap?
Flexi Cap funds allow the manager to reduce small/mid cap exposure to 0% if they want, whereas Multi Cap funds MUST hold at least 25% in mid caps and 25% in small caps regardless of valuations.
What is the risk level of Multi Cap funds?
Due to the mandatory 50% allocation to mid and small caps combined, Multi Cap funds carry a higher risk profile than Large Cap or Flexi Cap funds.
What is the ideal time horizon for Multi Cap funds?
A minimum time horizon of 5 to 7 years is recommended to allow the 50% mid/small cap component to absorb market volatility.