Samco Multi Cap Fund

The Samco Multi Cap Fund has delivered a 1-year SIP XIRR of -7.73%, significantly underperforming the category average of 15.06% and the NIFTY 50 benchmark's CAGR of -2.9% over the same period. Over longer horizons, the fund's CAGR remains negative, ranging from -4.29% (1Y) to -0.58% (15Y), while the benchmark has been roughly flat, indicating persistent underperformance. The fund's negative alpha across all periods (e.g., -5.01% at 1Y) confirms that it has not added value relative to the benchmark.

The fund exhibits a maximum drawdown of -20.06% with a duration of 467 days and has not yet recovered from this drawdown, indicating a prolonged period of losses. The average drawdown is -9.58%, and there has been one drawdown event exceeding 10%, reflecting moderate to high downside risk. The Calmar ratio of -0.35 at 1Y is negative, suggesting that the fund's returns do not compensate for the drawdown risk taken.

The fund holds 48 stocks with a top 10 concentration of about 25.7% of NAV, led by National Aluminium (4.08%), TCS (4.02%), and Dr. Reddy's (3.99%). Sector-wise, Banks dominate at 15.5%, followed by Pharmaceuticals (7.3%), Non-Ferrous Metals (6.7%), and Automobiles (6.7%), indicating a tilt towards financials and cyclical sectors. The portfolio appears diversified across sectors, but the top holdings are relatively small, suggesting a fairly spread-out allocation.

The fund's 1-year XIRR of -7.73% is drastically below the multi-cap category average of 15.06%, placing it in the bottom quartile of peers. Over longer periods, the category averages are consistently positive (e.g., 16.01% at 3Y), while the fund's returns remain negative, highlighting a persistent and severe underperformance. The fund has not shown any period of outperformance, as its calendar year returns are negative in 2025 (-7.29%) and 2024 (-3.58%), with only a modest gain of 1.44% in 2026.

This fund is suitable only for investors with a very high risk tolerance and a long-term horizon (10+ years) who can withstand significant drawdowns and prolonged underperformance. Given the negative returns and high drawdowns, it is not appropriate for conservative or income-focused investors. Investors should consider this fund only if they have a strong conviction in the fund's strategy and are willing to accept the possibility of continued losses.

• Low expense ratio of 0.78% for a direct plan, which is competitive and helps reduce cost drag.
• Diversified portfolio across 48 stocks and multiple sectors, reducing single-stock concentration risk.
• Lower beta (0.58-0.62) compared to the benchmark, indicating less market volatility than the NIFTY 50.

• Severe underperformance versus the category average and benchmark, with negative alpha across all time periods.
• Prolonged drawdown of 467 days with no recovery, indicating a high risk of capital loss for investors.
• Negative returns in most calendar years (2024 and 2025) and a negative 1-year XIRR, reflecting poor recent performance.