LIC MF Multi Cap Fund
Direct · GrowthAI Summary
LIC MF Multi Cap Fund has delivered strong alpha against the NIFTY 50 across all periods, with a 3Y alpha of 12.26% and a 3Y fund CAGR of 16.45% versus the benchmark's 4.15%. Its 1Y SIP XIRR of 15.62% comfortably beats the category average of 11.47%, though the 3Y XIRR of 13.99% trails the category average of 14.98%. Consistent positive alpha over 5Y to 15Y horizons (9.06% down to 2.57%) indicates durable benchmark outperformance.
The fund shows well-controlled downside risk, with a downside capture of 84.93% (1Y) to 81.74% (long-term) against the NIFTY 50, meaning it falls significantly less than the benchmark in weak markets. Only 2 drawdown events exceeding 10% occurred, with a maximum drawdown of about -19.32% that took 231 days to recover. Calmar ratios above 1.0 at both 1Y (1.14) and 3Y (1.07) indicate healthy risk-adjusted returns.
The 62-stock portfolio is broadly diversified, with the top holding, Garware Hi-Tech Films, at just 3.91% of NAV. Banks form the largest sector exposure at 14.2%, spread across ICICI, Kotak Mahindra, HDFC, and Axis Bank, providing a stable financials core. The remainder spans electrical equipment, retailing, auto components, and industrial products, reflecting genuine multi-cap and multi-sector diversification.
The fund outperforms the category on 1Y SIP XIRR (15.62% vs 11.47%) but slightly lags on 3Y XIRR (13.99% vs 14.98%), suggesting recent momentum is stronger than its medium-term SIP record. Lump-sum rolling returns are solid, with a 3Y rolling mean of 20.45%. Calendar year returns show strong up-years in 2023 (32.43%) and 2024 (33.81%) but muted results in 2022 (-0.94%), 2025 (1.84%), and 2026 (4.01%), indicating uneven year-to-year consistency.
This fund suits investors seeking diversified multi-cap exposure with a demonstrated ability to limit downside relative to the NIFTY 50. A horizon of at least 5 years is appropriate, given that lump-sum 3Y rolling returns (20.45%) are materially better than shorter windows. Investors should have moderate-to-high risk tolerance, as the fund can still experience double-digit drawdowns despite favorable capture ratios.
- Consistent positive alpha versus NIFTY 50 across every measured period, from 16.46% at 1Y to 2.57% at 15Y
- Low downside capture (81.74% to 87.62%) across horizons, cushioning losses in weak markets
- Well-diversified 62-stock portfolio with no single holding above 3.91% of NAV
- 3Y SIP XIRR of 13.99% trails the category average of 14.98%
- Recent calendar year returns are weak, with 2025 at 1.84% and 2026 at 4.01% after strong 2023-2024 gains
Generated on 14-10-2026, 4:08 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 | ₹12.89 L | 22.3% | -21.6% | 73.0% |
| 3 Years | ₹36.00 L | ₹43.88 L | 14.3% | 4.4% | 22.5% |
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 | 22.3% | 14.3% | 11.4% | +8.0% |
| 3 Years | 14.3% | 11.0% | 14.9% | +3.3% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 22.0% | 14.7% | -3.4% | 55.7% | 0.85 | 6.52 | 95% | — | — |
| 3 Years | 20.5% | 20.6% | 16.3% | 23.8% | 8.68 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +13.80 | 1.00 | 101.8% | 84.7% | 4.3% | -9.5% |
| 3 Years | +11.12 | 0.97 | 102.0% | 87.6% | 16.6% | 5.5% |
| 5 Years | +8.53 | 0.93 | 97.0% | 81.7% | 13.7% | 5.1% |
| 7 Years | +5.81 | 0.93 | 97.0% | 81.7% | 9.6% | 3.6% |
| 10 Years | +3.84 | 0.93 | 97.0% | 81.7% | 6.7% | 2.5% |
| 12 Years | +3.10 | 0.93 | 97.0% | 81.7% | 5.5% | 2.1% |
| 15 Years | +2.36 | 0.93 | 97.0% | 81.7% | 4.4% | 1.7% |
| # | Stock | % of NAV |
|---|---|---|
| 1 | Garware Hi-Tech Films Ltd. | 3.91% |
| 2 | ICICI Bank Ltd. | 3.56% |
| 3 | Avalon Technologies Ltd. | 3.47% |
| 4 | Kotak Mahindra Bank Ltd. | 2.79% |
| 5 | HDFC Bank Ltd. | 2.70% |
| 6 | Lenskart Solutions Ltd. | 2.23% |
| 7 | One 97 Communications Ltd. | 2.13% |
| 8 | Axis Bank Ltd. | 2.11% |
| 9 | Tata Motors Ltd. | 1.78% |
| 10 | SRF Ltd. | 1.74% |