FMCG sector funds focus on businesses that supply products used every day—items that move off shelves quickly regardless of market cycles. These funds invest in companies operating across packaged foods, beverages, household essentials, personal care, and basic healthcare segments. In India, the FMCG ecosystem includes established names such as Hindustan Unilever, ITC, Nestlé, Britannia, Marico, Dabur, Colgate-Palmolive, Emami, and Godrej Consumer Products.

This category of Mutual Funds is typically chosen for its consumption-led stability. Demand for essential goods remains consistent even during economic fluctuations, which makes FMCG a defensive theme within equity Investing. Investors usually consider these funds for long-term thematic exposure and Portfolio balance rather than short-term market movements.
FMCG is one of the largest sectors in India, forming a significant part of domestic consumption. The sector comprises three broad segments:
Recent studies place India’s FMCG market anywhere between US$ 167 billion (IBEF, 2023) and US$ 245 billion (IMARC, 2024). Growth forecasts also diverge — from a steady 8–9% annual rise to ambitious long-term projections above 17% CAGR. The one clear signal across reports: FMCG remains a structurally strong, consumption-driven engine that continues to expand regardless of economic cycles.
Stable and recurring demand: FMCG products are essential consumption items, creating consistent demand irrespective of economic cycles.
Rural contribution: Rural India contributes ~35–40% of FMCG sales. Increasing incomes, electrification, and retail penetration continue to expand rural demand.
Premiumisation: Consumers increasingly prefer value-added, higher-margin products in skincare, home care, nutrition, and convenience foods.
E-commerce and quick-commerce: Rapid adoption of digital channels improves product accessibility and increases purchase frequency.
Low per-capita consumption base: India’s per-capita FMCG consumption remains significantly lower than economies like China, leaving long-term expansion potential.
Brand strength and pricing power: Large FMCG companies maintain strong distribution networks, high brand recall, and the ability to pass on moderate cost inflation.
These factors indicate that FMCG remains a stable and structurally important theme for long-term investors.
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FMCG funds have shown lower Volatility compared to diversified Equity Funds due to the defensive nature of consumer demand.
These funds have historically performed better during market corrections and inflationary periods, where essential goods maintain steady revenue.
In strong market rallies, FMCG funds may underperform broader indices because the sector grows steadily, not aggressively.
Over long periods (5–7+ years), FMCG funds typically offer stable, compounding-driven returns.
Fund Selection Methodology used to find 4 funds
FMCG funds are high-concentration thematic funds. They should be used in moderation as part of a diversified portfolio. Long-term investment horizons are recommended.
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2024 (%) ICICI Prudential FMCG Fund Growth ₹465.55
↑ 0.59 ₹1,949 -5.4 -3.5 -2.8 5.6 11.4 0.7 TATA India Consumer Fund Growth ₹45.1272
↑ 0.31 ₹2,660 -1.6 4.5 -2.8 17.6 17.1 26.7 Mirae Asset Great Consumer Fund Growth ₹94.406
↑ 0.66 ₹4,769 -3.5 4.8 1.2 15.9 18.2 17.2 Canara Robeco Consumer Trends Fund Growth ₹111.52
↑ 0.89 ₹2,000 -0.5 2.3 1.3 15.2 17.7 20.3 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 11 Dec 25 Research Highlights & Commentary of 4 Funds showcased
Commentary ICICI Prudential FMCG Fund TATA India Consumer Fund Mirae Asset Great Consumer Fund Canara Robeco Consumer Trends Fund Point 1 Bottom quartile AUM (₹1,949 Cr). Upper mid AUM (₹2,660 Cr). Highest AUM (₹4,769 Cr). Lower mid AUM (₹2,000 Cr). Point 2 Oldest track record among peers (26 yrs). Established history (9+ yrs). Established history (14+ yrs). Established history (16+ yrs). Point 3 Rating: 3★ (upper mid). Not Rated. Top rated. Rating: 3★ (lower mid). Point 4 Risk profile: High. Risk profile: High. Risk profile: High. Risk profile: High. Point 5 5Y return: 11.42% (bottom quartile). 5Y return: 17.12% (lower mid). 5Y return: 18.24% (top quartile). 5Y return: 17.71% (upper mid). Point 6 3Y return: 5.56% (bottom quartile). 3Y return: 17.57% (top quartile). 3Y return: 15.94% (upper mid). 3Y return: 15.20% (lower mid). Point 7 1Y return: -2.84% (bottom quartile). 1Y return: -2.82% (lower mid). 1Y return: 1.16% (upper mid). 1Y return: 1.28% (top quartile). Point 8 Alpha: -2.01 (top quartile). Alpha: -5.17 (bottom quartile). Alpha: -5.14 (lower mid). Alpha: -4.43 (upper mid). Point 9 Sharpe: -0.73 (bottom quartile). Sharpe: -0.11 (upper mid). Sharpe: -0.10 (top quartile). Sharpe: -0.23 (lower mid). Point 10 Information ratio: -0.61 (bottom quartile). Information ratio: 0.14 (top quartile). Information ratio: -0.04 (lower mid). Information ratio: 0.07 (upper mid). ICICI Prudential FMCG Fund
TATA India Consumer Fund
Mirae Asset Great Consumer Fund
Canara Robeco Consumer Trends Fund
To generate long term capital appreciation through investments made primarily in Fast Moving Consumer Goods sector that are fundamentally strong and have established brands. Research Highlights for ICICI Prudential FMCG Fund Below is the key information for ICICI Prudential FMCG Fund Returns up to 1 year are on The investment objective of the scheme is to seek long term capital appreciation by investing atleast 80% of its assets in equity/equity related instruments of the companies in the Consumption Oriented sectors in India.However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved.The Scheme does not assure or guarantee any returns. Research Highlights for TATA India Consumer Fund Below is the key information for TATA India Consumer Fund Returns up to 1 year are on The investment objective of the scheme is to generate long term capital appreciation by investing in a portfolio of companies/funds that are likely to benefit either directly or indirectly from consumption led demand in India. The Scheme does not guarantee or assure any returns Research Highlights for Mirae Asset Great Consumer Fund Below is the key information for Mirae Asset Great Consumer Fund Returns up to 1 year are on (Erstwhile Canara Robeco F.O.R.C.E Fund) The objective of the Fund is to provide long - term capital appreciation by
primarily investing in equity and equity related securities of companies in the Finance, Retail & Entertainment sectors. However, there can be no
assurance that the investment objective of the scheme will be realized. Research Highlights for Canara Robeco Consumer Trends Fund Below is the key information for Canara Robeco Consumer Trends Fund Returns up to 1 year are on 1. ICICI Prudential FMCG Fund
ICICI Prudential FMCG Fund
Growth Launch Date 31 Mar 99 NAV (11 Dec 25) ₹465.55 ↑ 0.59 (0.13 %) Net Assets (Cr) ₹1,949 on 31 Oct 25 Category Equity - Sectoral AMC ICICI Prudential Asset Management Company Limited Rating ☆☆☆ Risk High Expense Ratio 2.17 Sharpe Ratio -0.73 Information Ratio -0.61 Alpha Ratio -2.01 Min Investment 5,000 Min SIP Investment 100 Exit Load 0-1 Years (1%),1 Years and above(NIL) Growth of 10,000 investment over the years.
Date Value 30 Nov 20 ₹10,000 30 Nov 21 ₹12,832 30 Nov 22 ₹15,583 30 Nov 23 ₹17,899 30 Nov 24 ₹19,432 30 Nov 25 ₹18,913 Returns for ICICI Prudential FMCG Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 11 Dec 25 Duration Returns 1 Month -2.4% 3 Month -5.4% 6 Month -3.5% 1 Year -2.8% 3 Year 5.6% 5 Year 11.4% 10 Year 15 Year Since launch 15.5% Historical performance (Yearly) on absolute basis
Year Returns 2024 0.7% 2023 23.3% 2022 18.3% 2021 19.5% 2020 9.7% 2019 4.5% 2018 7.1% 2017 35.6% 2016 1% 2015 4.9% Fund Manager information for ICICI Prudential FMCG Fund
Name Since Tenure Priyanka Khandelwal 15 Jun 17 8.38 Yr. Sharmila D’mello 30 Jun 22 3.34 Yr. Data below for ICICI Prudential FMCG Fund as on 31 Oct 25
Equity Sector Allocation
Sector Value Consumer Defensive 94.05% Health Care 2.65% Consumer Cyclical 0.83% Basic Materials 0.48% Asset Allocation
Asset Class Value Cash 1.99% Equity 98.01% Top Securities Holdings / Portfolio
Name Holding Value Quantity ITC Ltd (Consumer Defensive)
Equity, Since 29 Feb 12 | ITC33% ₹635 Cr 15,098,972 Hindustan Unilever Ltd (Consumer Defensive)
Equity, Since 31 May 16 | HINDUNILVR19% ₹365 Cr 1,481,447
↓ -38,000 Nestle India Ltd (Consumer Defensive)
Equity, Since 31 Jul 22 | NESTLEIND9% ₹185 Cr 1,452,288
↓ -215,000 Britannia Industries Ltd (Consumer Defensive)
Equity, Since 31 Aug 13 | 5008255% ₹97 Cr 166,654
↑ 6,000 Dabur India Ltd (Consumer Defensive)
Equity, Since 31 Jan 16 | 5000964% ₹78 Cr 1,601,739 Tata Consumer Products Ltd (Consumer Defensive)
Equity, Since 30 Apr 24 | 5008004% ₹70 Cr 600,438
↓ -28,457 Colgate-Palmolive (India) Ltd (Consumer Defensive)
Equity, Since 30 Nov 24 | COLPAL4% ₹70 Cr 311,430 Godrej Consumer Products Ltd (Consumer Defensive)
Equity, Since 31 Mar 22 | 5324243% ₹59 Cr 526,845
↑ 72,147 United Breweries Ltd (Consumer Defensive)
Equity, Since 31 Oct 19 | UBL3% ₹56 Cr 312,682
↑ 5,000 Amrutanjan Health Care Ltd (Healthcare)
Equity, Since 31 Jul 24 | AMRUTANJAN3% ₹52 Cr 713,715 2. TATA India Consumer Fund
TATA India Consumer Fund
Growth Launch Date 28 Dec 15 NAV (12 Dec 25) ₹45.1272 ↑ 0.31 (0.69 %) Net Assets (Cr) ₹2,660 on 31 Oct 25 Category Equity - Sectoral AMC Tata Asset Management Limited Rating Risk High Expense Ratio 2.02 Sharpe Ratio -0.12 Information Ratio 0.14 Alpha Ratio -5.17 Min Investment 5,000 Min SIP Investment 150 Exit Load 0-18 Months (1%),18 Months and above(NIL) Growth of 10,000 investment over the years.
Date Value 30 Nov 20 ₹10,000 30 Nov 21 ₹13,410 30 Nov 22 ₹14,367 30 Nov 23 ₹17,801 30 Nov 24 ₹23,357 30 Nov 25 ₹23,609 Returns for TATA India Consumer Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 11 Dec 25 Duration Returns 1 Month -2.2% 3 Month -1.6% 6 Month 4.5% 1 Year -2.8% 3 Year 17.6% 5 Year 17.1% 10 Year 15 Year Since launch 16.3% Historical performance (Yearly) on absolute basis
Year Returns 2024 26.7% 2023 35.8% 2022 1% 2021 27.5% 2020 21% 2019 -2% 2018 -2.1% 2017 73.3% 2016 3.1% 2015 Fund Manager information for TATA India Consumer Fund
Name Since Tenure Sonam Udasi 1 Apr 16 9.59 Yr. Aditya Bagul 3 Oct 23 2.08 Yr. Data below for TATA India Consumer Fund as on 31 Oct 25
Equity Sector Allocation
Sector Value Consumer Cyclical 33.01% Consumer Defensive 32.39% Industrials 10.97% Financial Services 6.94% Technology 5.49% Health Care 2.88% Basic Materials 2.02% Asset Allocation
Asset Class Value Cash 6.3% Equity 93.7% Top Securities Holdings / Portfolio
Name Holding Value Quantity ITC Ltd (Consumer Defensive)
Equity, Since 31 Jul 20 | ITC9% ₹242 Cr 5,769,000
↑ 360,000 Eternal Ltd (Consumer Cyclical)
Equity, Since 31 May 23 | 5433208% ₹213 Cr 6,700,000 Radico Khaitan Ltd (Consumer Defensive)
Equity, Since 30 Nov 17 | RADICO6% ₹158 Cr 506,000 Titan Co Ltd (Consumer Cyclical)
Equity, Since 31 Jan 19 | TITAN6% ₹152 Cr 405,000
↑ 9,000 CarTrade Tech Ltd (Consumer Cyclical)
Equity, Since 30 Jun 25 | 5433335% ₹137 Cr 453,340 Tata Consumer Products Ltd (Consumer Defensive)
Equity, Since 30 Sep 19 | 5008004% ₹112 Cr 961,000 Bikaji Foods International Ltd (Consumer Defensive)
Equity, Since 30 Nov 22 | BIKAJI4% ₹95 Cr 1,297,150 DOMS Industries Ltd (Industrials)
Equity, Since 31 Dec 23 | DOMS3% ₹82 Cr 319,057 LG Electronics India Ltd (Technology)
Equity, Since 31 Oct 25 | LGEINDIA3% ₹81 Cr 486,000
↑ 486,000 BSE Ltd (Financial Services)
Equity, Since 31 May 24 | BSE3% ₹78 Cr 315,000
↑ 108,000 3. Mirae Asset Great Consumer Fund
Mirae Asset Great Consumer Fund
Growth Launch Date 29 Mar 11 NAV (12 Dec 25) ₹94.406 ↑ 0.66 (0.70 %) Net Assets (Cr) ₹4,769 on 31 Oct 25 Category Equity - Sectoral AMC Mirae Asset Global Inv (India) Pvt. Ltd Rating ☆☆☆☆ Risk High Expense Ratio 1.16 Sharpe Ratio -0.1 Information Ratio -0.04 Alpha Ratio -5.14 Min Investment 5,000 Min SIP Investment 1,000 Exit Load 0-1 Years (1%),1 Years and above(NIL) Growth of 10,000 investment over the years.
Date Value 30 Nov 20 ₹10,000 30 Nov 21 ₹14,090 30 Nov 22 ₹15,614 30 Nov 23 ₹19,156 30 Nov 24 ₹23,737 30 Nov 25 ₹24,599 Returns for Mirae Asset Great Consumer Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 11 Dec 25 Duration Returns 1 Month -1.9% 3 Month -3.5% 6 Month 4.8% 1 Year 1.2% 3 Year 15.9% 5 Year 18.2% 10 Year 15 Year Since launch 16.5% Historical performance (Yearly) on absolute basis
Year Returns 2024 17.2% 2023 32.9% 2022 7.2% 2021 33% 2020 11.2% 2019 8.6% 2018 1.9% 2017 51% 2016 2% 2015 3.8% Fund Manager information for Mirae Asset Great Consumer Fund
Name Since Tenure Siddhant Chhabria 21 Jun 21 4.37 Yr. Data below for Mirae Asset Great Consumer Fund as on 31 Oct 25
Equity Sector Allocation
Sector Value Consumer Cyclical 51.3% Consumer Defensive 24.71% Basic Materials 6.77% Communication Services 6.77% Industrials 5.57% Health Care 2.67% Technology 1.45% Asset Allocation
Asset Class Value Cash 0.76% Equity 99.24% Other 0% Top Securities Holdings / Portfolio
Name Holding Value Quantity ITC Ltd (Consumer Defensive)
Equity, Since 29 Feb 12 | ITC10% ₹466 Cr 11,075,000
↑ 350,000 Mahindra & Mahindra Ltd (Consumer Cyclical)
Equity, Since 31 Oct 23 | M&M8% ₹372 Cr 1,065,648 Maruti Suzuki India Ltd (Consumer Cyclical)
Equity, Since 31 Mar 12 | MARUTI7% ₹355 Cr 219,500
↓ -6,000 Bharti Airtel Ltd (Communication Services)
Equity, Since 30 Sep 19 | BHARTIARTL7% ₹323 Cr 1,571,265 Eternal Ltd (Consumer Cyclical)
Equity, Since 29 Feb 24 | 5433206% ₹286 Cr 9,000,000 Titan Co Ltd (Consumer Cyclical)
Equity, Since 31 Dec 16 | TITAN4% ₹213 Cr 568,773
↑ 311,650 Eicher Motors Ltd (Consumer Cyclical)
Equity, Since 31 Aug 23 | EICHERMOT4% ₹195 Cr 278,196 Avenue Supermarts Ltd (Consumer Defensive)
Equity, Since 31 Mar 23 | 5403763% ₹135 Cr 325,000
↓ -25,000 Britannia Industries Ltd (Consumer Defensive)
Equity, Since 31 Aug 19 | 5008253% ₹135 Cr 230,494 Asian Paints Ltd (Basic Materials)
Equity, Since 31 Jan 21 | 5008203% ₹131 Cr 520,935 4. Canara Robeco Consumer Trends Fund
Canara Robeco Consumer Trends Fund
Growth Launch Date 14 Sep 09 NAV (12 Dec 25) ₹111.52 ↑ 0.89 (0.80 %) Net Assets (Cr) ₹2,000 on 31 Oct 25 Category Equity - Sectoral AMC Canara Robeco Asset Management Co. Ltd. Rating ☆☆☆ Risk High Expense Ratio 2.09 Sharpe Ratio -0.23 Information Ratio 0.07 Alpha Ratio -4.43 Min Investment 5,000 Min SIP Investment 1,000 Exit Load 0-1 Years (1%),1 Years and above(NIL) Growth of 10,000 investment over the years.
Date Value 30 Nov 20 ₹10,000 30 Nov 21 ₹13,776 30 Nov 22 ₹15,294 30 Nov 23 ₹17,899 30 Nov 24 ₹22,750 30 Nov 25 ₹23,667 Returns for Canara Robeco Consumer Trends Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 11 Dec 25 Duration Returns 1 Month -0.9% 3 Month -0.5% 6 Month 2.3% 1 Year 1.3% 3 Year 15.2% 5 Year 17.7% 10 Year 15 Year Since launch 16% Historical performance (Yearly) on absolute basis
Year Returns 2024 20.3% 2023 26.4% 2022 6.1% 2021 30.2% 2020 20.5% 2019 12.8% 2018 2% 2017 41% 2016 3.4% 2015 1.8% Fund Manager information for Canara Robeco Consumer Trends Fund
Name Since Tenure Shridatta Bhandwaldar 1 Oct 19 6.09 Yr. Ennette Fernandes 1 Oct 21 4.09 Yr. Data below for Canara Robeco Consumer Trends Fund as on 31 Oct 25
Equity Sector Allocation
Sector Value Consumer Cyclical 33.1% Financial Services 24.41% Consumer Defensive 21.68% Communication Services 7.95% Industrials 4.19% Health Care 2.12% Basic Materials 1.88% Technology 1.14% Asset Allocation
Asset Class Value Cash 3.13% Equity 96.87% Top Securities Holdings / Portfolio
Name Holding Value Quantity HDFC Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | HDFCBANK6% ₹126 Cr 1,274,000 ITC Ltd (Consumer Defensive)
Equity, Since 30 Sep 21 | ITC5% ₹109 Cr 2,600,000
↑ 250,000 Maruti Suzuki India Ltd (Consumer Cyclical)
Equity, Since 30 Sep 21 | MARUTI5% ₹104 Cr 64,500 Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Mar 22 | BHARTIARTL5% ₹103 Cr 503,000 Eternal Ltd (Consumer Cyclical)
Equity, Since 30 Sep 23 | 5433205% ₹95 Cr 3,000,000 Bajaj Finance Ltd (Financial Services)
Equity, Since 31 May 19 | 5000344% ₹87 Cr 830,000 Mahindra & Mahindra Ltd (Consumer Cyclical)
Equity, Since 31 Jan 25 | M&M4% ₹84 Cr 240,000 Britannia Industries Ltd (Consumer Defensive)
Equity, Since 31 Aug 25 | 5008254% ₹75 Cr 128,500 Godrej Consumer Products Ltd (Consumer Defensive)
Equity, Since 31 Aug 21 | 5324243% ₹56 Cr 498,000 Varun Beverages Ltd (Consumer Defensive)
Equity, Since 30 Nov 21 | VBL3% ₹54 Cr 1,150,000
Sector concentration: Performance depends on a limited set of companies; diversification across industries is absent.
Underperformance in bull markets: Defensive sectors generally grow slower during strong equity rallies.
Regulatory exposure: Changes in GST slabs, packaging mandates, or food safety rules can affect costs.
Commodity input volatility: Prices of raw materials (palm oil, wheat, sugar, crude derivatives) influence margins.
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A: The full form of FMCG is Fast Moving Consumer Goods. These goods are usually consumer goods with short shelf life like soft drinks, dairy products, frozen goods, and medicines.
A: Sector funds are similar to mutual funds or investment funds, but these belong to only a single industrial sector.
A: Although the FMCG sector fund is often considered a high-risk investment, it can prove beneficial to invest in the FMCG sector fund. The FMCG sector fund produces good returns as these companies usually record an excellent profit margin. Even if you are not looking to trade in the FMCG sector fund, it generally produces good dividends.
A: The full form of CAGR is the Compounded Annual Growth Rate. By evaluating the CAGR, you can quickly evaluate the best investment portfolios and identify the Best Sector Funds for investment.
A: The CAGR will help you evaluate the FMCG industry's performance, which is necessary when planning to diversify your portfolio of a sector fund. If the CAGR of the FMCG is 17% and above, then you can consider this as robust returns, and it is suitable for investment.
A: Long term capital appreciation is the rise in stocks price when held for a more extended period. If you are investing in a particular sector fund, it is essential to evaluate its long-term capital appreciation. Preferably the price of the stocks should rise in five years, and you can earn good returns.
A: The sector funds are considered riskier than mutual funds as there is no chance of moving away from the particular sector if it stops performing. Usually, the minimum time for investment in a sector fund to mature is three years, and if the stock stops performing, you cannot move away from the particular sector.
Sector funds are usually more volatile than Diversified Equity Funds, wherein you can invest in stocks of different sectors. Since you will be investing only in a single sector, you will have no option but to stay with your particular industrial sector choice.
A: Despite the risks involved, sector funds have been known to produce excellent returns. However, you will have to wait for 3-5 years for your investment to produce the desired results.
A: The returns of sector funds depend on the risk that you are prepared to take. Usually, the returns are higher in sector funds, especially if the particular sector starts performing better than expected. It is always a good idea to diversify your investment portfolio with some sector funds.
A: The FMCG market is quite unpredictable, which makes investment in the FMCG sector riskier. Moreover, not all companies in this sector can perform equally well. Hence, it is better to diversify one's portfolio of investments. As the funds are entirely dependent on the consumer, predicting the market's outcome with absolute certainty is quite challenging.
A: If the consumption increases, it is likely to improve the companies' profit margin in this sector. Subsequently, as the CAGR will increase, it will improve the returns on investment. Thus, increased consumption will reflect positively on the FMCG sector funds.
Informative and good explanations