Bajaj Finserv Multi Cap Fund
Direct · GrowthAI Summary
Bajaj Finserv Multi Cap Fund has outperformed the NIFTY 50 across all measured periods, delivering a 1Y fund CAGR of 13.04% against the benchmark's -2.9%, with a 1Y alpha of 15.99%. However, its 1Y SIP XIRR of 6.90% trails the category average of 15.06% by a wide margin, indicating SIP investors have fared better in peer funds over the recent year. Calendar year returns of 16.24% in 2025 and 7.99% in 2026 so far show positive absolute performance.
The fund exhibits strong downside protection with a downside capture of 82.67% versus 96.57% on the upside, and only one drawdown event exceeding 10% with a maximum drawdown of just -0.14% recovered in 45 days. Its 1Y Calmar Ratio of 0.50 reflects modest returns relative to drawdown, but the favorable capture asymmetry supports risk-adjusted outperformance versus the benchmark. Beta of roughly 0.93 across longer horizons suggests slightly lower volatility than the market.
The portfolio is well diversified across 73 holdings, with the top position Bharti Airtel at only 5.77% of NAV, limiting single-stock concentration. Banks form the largest sector allocation at 12.9%, followed by Auto Components at 8.2% and Pharmaceuticals at 7.2%, providing a balanced spread across financials, industrials, and defensives. The top 10 holdings together account for under 30% of NAV, consistent with a true multi-cap approach.
While the fund beats its benchmark consistently, it lags category peers on SIP XIRR, with its 1Y figure of 6.90% well below the category average of 15.06%. The consistent positive alpha across all periods from 1Y to 15Y, though narrowing at longer horizons (1.69% at 7Y, 0.54% at 15Y), suggests steady but moderating outperformance versus the NIFTY 50. Investors should weigh the fund's benchmark-beating record against its below-average showing relative to multi-cap peers.
This fund suits investors seeking diversified multi-cap exposure with below-benchmark downside risk and a long-term horizon of 5-7 years or more. It is appropriate for those with moderate risk tolerance who value the fund's strong downside capture and shallow drawdown profile. Investors prioritizing top-quartile SIP returns versus category peers may want to compare alternatives before committing.
- Consistent positive alpha versus NIFTY 50 across all periods, including 15.99% in the 1Y window
- Strong downside protection with downside capture of 82.67% versus upside capture of 96.57%
- Well-diversified portfolio of 73 holdings with no single stock above 5.77% of NAV
- 1Y SIP XIRR of 6.90% significantly trails the category average of 15.06%
- Alpha narrows considerably over longer horizons, falling to just 0.54% over 15 years
Generated on 05-09-2026, 3:04 AM. Verify before investing.
Gives more importance to longer time periods (10Y, 20Y) than shorter ones (1Y, 3Y). This balances out recent outperformance and gives a more realistic picture of what long-term returns might look like.
The largest peak-to-trough decline in the fund's NAV. Shows the worst-case loss an investor would have experienced at any point in the fund's history.
If you invested ₹1,00,000 every month via SIP, here's how this fund has historically performed across different time horizons.
| Duration | Invested | Median Value | XIRR | Min XIRR | Max XIRR |
|---|---|---|---|---|---|
| 1 Year | ₹12.00 L | ₹12.42 L | 6.9% | -20.3% | 22.3% |
SIP returns vs benchmark & category
Annualised SIP return (XIRR) over each rolling horizon — like-for-like, not lump-sum.
| Duration | Fund SIP XIRR | NIFTY 50 | Category avg | Fund edge |
|---|---|---|---|---|
| 1 Year | 6.9% | 14.4% | 15.1% | -7.5% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 7.0% | 6.8% | -1.8% | 15.2% | 0.15 | 0.25 | 96% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +16.00 | 1.01 | 105.9% | 84.8% | 13.0% | -2.9% |
| 3 Years | +4.73 | 0.93 | 96.6% | 82.7% | 8.0% | 3.0% |
| 5 Years | +2.58 | 0.93 | 96.6% | 82.7% | 4.7% | 1.8% |
| 7 Years | +1.69 | 0.93 | 96.6% | 82.7% | 3.4% | 1.3% |
| 10 Years | +1.05 | 0.93 | 96.6% | 82.7% | 2.3% | 0.9% |
| 12 Years | +0.79 | 0.93 | 96.6% | 82.7% | 1.9% | 0.8% |
| 15 Years | +0.54 | 0.93 | 96.6% | 82.7% | 1.6% | 0.6% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Bharti Airtel Limited | 5.77% |
| 2 | Schaeffler India Limited | 3.28% |
| 3 | The Federal Bank Limited | 3.10% |
| 4 | HDFC Bank Limited | 2.99% |
| 5 | Zydus Wellness Limited | 2.72% |
| 6 | GlaxoSmithKline Pharmaceuticals Limited | 2.57% |
| 7 | Aurobindo Pharma Limited | 2.47% |
| 8 | Bajaj Auto Limited | 2.41% |
| 9 | SBI Funds Management Limited | 2.37% |
| 10 | ICICI Bank Limited | 2.35% |