Diversified Multicap funds or more correctly diversified Equity Funds are a class of equity funds. Investors with a high-risk appetite who wish to take an exposure in equities usually incline towards Investing in diversified multicap funds. As,
Diversified multicap funds invest across market caps such as – large cap, mid cap & small cap, they master in balancing the Portfolio. By investing in the best diversified multicap equity funds, investors can earn slightly more stable returns

However, they would still be affected by the Volatility of equities during a turbulent market condition. To make the process of selecting a good diversified multicap equity fund easy, we have listed top 4 best multi-cap equity funds – that investors can take into account during their investing journey.
Investors who want to invest in equities, but don’t want to take a very high-risk can ideally prefer this fund. Since, this fund invests across the market cap, it gives a good diversification to the portfolio. Also, investors who are not well-versed with the technique of Asset Allocation with respect to investments can also put a part of their funds here. The performance of this fund vastly depends on the fund manager's intelligence and knowledge on how he picks the stock as per the market conditions. Thus, an investor should check on the fund manager's past experiences and the performances of the fund managed by him. Investors who want to invest to begin their investment in equities, can start from the diversified fund.
Talk to our investment specialist
Before investing in multi-cap funds it is advisable to look at the qualitative and quantitative factors of the scheme.
Qualitative factors like knowing your fund manager and the reputation of the fund house is important. In multi-cap fund, the fund manager’s view determines the fund’s performance. One should check the past record of the fund manager and the fund’s past performances (managed by him), especially in the tough market phase. Choosing a fund from a quality and well-known fund house is important. Look if the fund house has a long track record, large Asset Under Management (AUM), stared funds, etc.
Quantitative factors like fund performance, the size of the fund is one of the key factors to be looked at. An investor needs to go for a fund that consistently beats its benchmark for over 4-5 years. The size of the fund should neither be too big nor too small. It’s advisable to go for a fund whose AUM is approximately same as the category.
Fund Selection Methodology used to find 8 funds
Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2024 (%) Motilal Oswal Multicap 35 Fund Growth ₹63.6316
↑ 0.05 ₹13,940 11.3 15.9 1.8 17.4 11.9 -5.6 Kotak Standard Multicap Fund Growth ₹85.079
↓ -0.18 ₹56,119 2.8 0.7 1.6 11.4 9.9 9.5 Mirae Asset India Equity Fund Growth ₹111.503
↑ 0.07 ₹38,729 4.3 1.4 -0.8 8.4 7.3 10.2 BNP Paribas Multi Cap Fund Growth ₹73.5154
↓ -0.01 ₹588 -4.6 -2.6 19.3 17.3 13.6 Aditya Birla Sun Life Equity Fund Growth ₹1,963.56
↓ -4.54 ₹28,112 7.1 9.6 10.7 15 11.4 11.2 Bandhan Focused Equity Fund Growth ₹90.244
↑ 1.77 ₹2,067 5.3 8.7 5 14.5 11.2 -1.6 JM Multicap Fund Growth ₹99.7929
↑ 0.25 ₹5,185 7 9.7 3 13.7 14.5 -6.8 SBI Magnum Multicap Fund Growth ₹108.693
↑ 0.13 ₹22,897 4.3 0.1 0.7 8.4 7.7 5.5 Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 4 Sep 26 Research Highlights & Commentary of 8 Funds showcased
Commentary Motilal Oswal Multicap 35 Fund Kotak Standard Multicap Fund Mirae Asset India Equity Fund BNP Paribas Multi Cap Fund Aditya Birla Sun Life Equity Fund Bandhan Focused Equity Fund JM Multicap Fund SBI Magnum Multicap Fund Point 1 Lower mid AUM (₹13,940 Cr). Highest AUM (₹56,119 Cr). Top quartile AUM (₹38,729 Cr). Bottom quartile AUM (₹588 Cr). Upper mid AUM (₹28,112 Cr). Bottom quartile AUM (₹2,067 Cr). Lower mid AUM (₹5,185 Cr). Upper mid AUM (₹22,897 Cr). Point 2 Established history (12+ yrs). Established history (16+ yrs). Established history (18+ yrs). Established history (20+ yrs). Oldest track record among peers (28 yrs). Established history (20+ yrs). Established history (17+ yrs). Established history (20+ yrs). Point 3 Top rated. Rating: 5★ (top quartile). Rating: 5★ (upper mid). Rating: 4★ (upper mid). Rating: 4★ (lower mid). Rating: 4★ (lower mid). Rating: 4★ (bottom quartile). Rating: 4★ (bottom quartile). Point 4 Risk profile: Moderately High. Risk profile: Moderately High. Risk profile: Moderately High. Risk profile: Moderately High. Risk profile: Moderately High. Risk profile: Moderately High. Risk profile: Moderately High. Risk profile: Moderately High. Point 5 5Y return: 11.95% (upper mid). 5Y return: 9.93% (lower mid). 5Y return: 7.29% (bottom quartile). 5Y return: 13.57% (top quartile). 5Y return: 11.37% (upper mid). 5Y return: 11.21% (lower mid). 5Y return: 14.48% (top quartile). 5Y return: 7.74% (bottom quartile). Point 6 3Y return: 17.45% (top quartile). 3Y return: 11.36% (lower mid). 3Y return: 8.36% (bottom quartile). 3Y return: 17.28% (top quartile). 3Y return: 15.03% (upper mid). 3Y return: 14.53% (upper mid). 3Y return: 13.66% (lower mid). 3Y return: 8.41% (bottom quartile). Point 7 1Y return: 1.81% (lower mid). 1Y return: 1.61% (lower mid). 1Y return: -0.75% (bottom quartile). 1Y return: 19.34% (top quartile). 1Y return: 10.68% (top quartile). 1Y return: 4.99% (upper mid). 1Y return: 3.00% (upper mid). 1Y return: 0.74% (bottom quartile). Point 8 Alpha: -3.79 (bottom quartile). Alpha: -1.96 (lower mid). Alpha: -0.54 (lower mid). Alpha: 0.00 (upper mid). Alpha: 6.21 (top quartile). Alpha: 1.47 (top quartile). Alpha: -0.14 (upper mid). Alpha: -2.51 (bottom quartile). Point 9 Sharpe: -0.26 (bottom quartile). Sharpe: -0.16 (upper mid). Sharpe: -0.19 (lower mid). Sharpe: 2.86 (top quartile). Sharpe: 0.33 (top quartile). Sharpe: -0.25 (bottom quartile). Sharpe: -0.07 (upper mid). Sharpe: -0.22 (lower mid). Point 10 Information ratio: 0.70 (top quartile). Information ratio: 0.00 (lower mid). Information ratio: -0.44 (bottom quartile). Information ratio: 0.00 (lower mid). Information ratio: 1.35 (top quartile). Information ratio: 0.22 (upper mid). Information ratio: 0.40 (upper mid). Information ratio: -1.18 (bottom quartile). Motilal Oswal Multicap 35 Fund
Kotak Standard Multicap Fund
Mirae Asset India Equity Fund
BNP Paribas Multi Cap Fund
Aditya Birla Sun Life Equity Fund
Bandhan Focused Equity Fund
JM Multicap Fund
SBI Magnum Multicap Fund
(Erstwhile Motilal Oswal MOSt Focused Multicap 35 Fund) The investment objective of the Scheme is to achieve long term capital appreciation by primarily investing in a maximum of 35 equity & equity related instruments across sectors and market-capitalization levels.However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved. Below is the key information for Motilal Oswal Multicap 35 Fund Returns up to 1 year are on (Erstwhile Kotak Select Focus Fund) The investment objective of the scheme is to generate long term appreciation from the portfolio of equity and equity related sectors, generally focussed on few selected sectors. Research Highlights for Kotak Standard Multicap Fund Below is the key information for Kotak Standard Multicap Fund Returns up to 1 year are on (Erstwhile Mirae Asset India Opportunities Fund) The investment objective of the scheme is to generate long term capital appreciation by capitalizing on potential investment opportunities through predominantly investing in equities, equity related securities. Research Highlights for Mirae Asset India Equity Fund Below is the key information for Mirae Asset India Equity Fund Returns up to 1 year are on (Erstwhile BNP Paribas Dividend Yield Fund) The investment objective of the scheme is to generate long term capital growth from an actively managed portfolio of equity and equity related securities, primarily being high dividend yield stocks. High dividend yield stocks are
defined as stocks of companies that have a dividend yield in excess of 0.5%, at the time of investment. However, there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme does not guarantee / indicate any returns. Research Highlights for BNP Paribas Multi Cap Fund Below is the key information for BNP Paribas Multi Cap Fund Returns up to 1 year are on An Open-ended growth scheme with the objective of long term growth of capital, through a portfolio with a target allocation of 90% equity and 10% debt and money market securities. Research Highlights for Aditya Birla Sun Life Equity Fund Below is the key information for Aditya Birla Sun Life Equity Fund Returns up to 1 year are on The investment objective of the scheme is to seek to generate capital appreciation and/or provide income distribution from a portfolio of predominantly equity and equity related instruments. There is no assurance or guarantee that the objectives of the scheme will be realized. Research Highlights for Bandhan Focused Equity Fund Below is the key information for Bandhan Focused Equity Fund Returns up to 1 year are on (Erstwhile JM Multi Strategy Fund) The investment objective of the Scheme is to provide capital appreciation by investing in equity and equity related securities using a combination of strategies. Research Highlights for JM Multicap Fund Below is the key information for JM Multicap Fund Returns up to 1 year are on To provide investors with opportunities for long-term growth in capital along with the liquidity of an open-ended scheme through an active management of investments in a diversified basket of equity stocks spanning the entire market capitalization spectrum, debt and money market instruments. Research Highlights for SBI Magnum Multicap Fund Below is the key information for SBI Magnum Multicap Fund Returns up to 1 year are on 1. Motilal Oswal Multicap 35 Fund
Motilal Oswal Multicap 35 Fund
Growth Launch Date 28 Apr 14 NAV (04 Sep 26) ₹63.6316 ↑ 0.05 (0.08 %) Net Assets (Cr) ₹13,940 on 31 Jul 26 Category Equity - Multi Cap AMC Motilal Oswal Asset Management Co. Ltd Rating ☆☆☆☆☆ Risk Moderately High Expense Ratio 1.77 Sharpe Ratio -0.26 Information Ratio 0.7 Alpha Ratio -3.79 Min Investment 5,000 Min SIP Investment 500 Exit Load 0-1 Years (1%),1 Years and above(NIL) Growth of 10,000 investment over the years.
Date Value Returns for Motilal Oswal Multicap 35 Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 4 Sep 26 Duration Returns 1 Month 2.2% 3 Month 11.3% 6 Month 15.9% 1 Year 1.8% 3 Year 17.4% 5 Year 11.9% 10 Year 15 Year Since launch 16.2% Historical performance (Yearly) on absolute basis
Year Returns 2024 -5.6% 2023 45.7% 2022 31% 2021 -3% 2020 15.3% 2019 10.3% 2018 7.9% 2017 -7.8% 2016 43.1% 2015 8.5% Fund Manager information for Motilal Oswal Multicap 35 Fund
Name Since Tenure Data below for Motilal Oswal Multicap 35 Fund as on 31 Jul 26
Equity Sector Allocation
Sector Value Asset Allocation
Asset Class Value Top Securities Holdings / Portfolio
Name Holding Value Quantity 2. Kotak Standard Multicap Fund
Kotak Standard Multicap Fund
Growth Launch Date 11 Sep 09 NAV (04 Sep 26) ₹85.079 ↓ -0.18 (-0.21 %) Net Assets (Cr) ₹56,119 on 31 Jul 26 Category Equity - Multi Cap AMC Kotak Mahindra Asset Management Co Ltd Rating ☆☆☆☆☆ Risk Moderately High Expense Ratio 1.47 Sharpe Ratio -0.16 Information Ratio 0 Alpha Ratio -1.96 Min Investment 5,000 Min SIP Investment 500 Exit Load 0-1 Years (1%),1 Years and above(NIL) Growth of 10,000 investment over the years.
Date Value Returns for Kotak Standard Multicap Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 4 Sep 26 Duration Returns 1 Month -1.8% 3 Month 2.8% 6 Month 0.7% 1 Year 1.6% 3 Year 11.4% 5 Year 9.9% 10 Year 15 Year Since launch 13.4% Historical performance (Yearly) on absolute basis
Year Returns 2024 9.5% 2023 16.5% 2022 24.2% 2021 5% 2020 25.4% 2019 11.8% 2018 12.3% 2017 -0.9% 2016 34.3% 2015 9.4% Fund Manager information for Kotak Standard Multicap Fund
Name Since Tenure Data below for Kotak Standard Multicap Fund as on 31 Jul 26
Equity Sector Allocation
Sector Value Asset Allocation
Asset Class Value Top Securities Holdings / Portfolio
Name Holding Value Quantity 3. Mirae Asset India Equity Fund
Mirae Asset India Equity Fund
Growth Launch Date 4 Apr 08 NAV (04 Sep 26) ₹111.503 ↑ 0.07 (0.06 %) Net Assets (Cr) ₹38,729 on 31 Jul 26 Category Equity - Multi Cap AMC Mirae Asset Global Inv (India) Pvt. Ltd Rating ☆☆☆☆☆ Risk Moderately High Expense Ratio 1.15 Sharpe Ratio -0.19 Information Ratio -0.44 Alpha Ratio -0.54 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 Returns for Mirae Asset India Equity Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 4 Sep 26 Duration Returns 1 Month -2.6% 3 Month 4.3% 6 Month 1.4% 1 Year -0.8% 3 Year 8.4% 5 Year 7.3% 10 Year 15 Year Since launch 14% Historical performance (Yearly) on absolute basis
Year Returns 2024 10.2% 2023 12.7% 2022 18.4% 2021 1.6% 2020 27.7% 2019 13.7% 2018 12.7% 2017 -0.6% 2016 38.6% 2015 8.1% Fund Manager information for Mirae Asset India Equity Fund
Name Since Tenure Data below for Mirae Asset India Equity Fund as on 31 Jul 26
Equity Sector Allocation
Sector Value Asset Allocation
Asset Class Value Top Securities Holdings / Portfolio
Name Holding Value Quantity 4. BNP Paribas Multi Cap Fund
BNP Paribas Multi Cap Fund
Growth Launch Date 15 Sep 05 NAV (13 Mar 22) ₹73.5154 ↓ -0.01 (-0.01 %) Net Assets (Cr) ₹588 on 31 Jan 22 Category Equity - Multi Cap AMC BNP Paribas Asset Mgmt India Pvt. Ltd Rating ☆☆☆☆ Risk Moderately High Expense Ratio 2.44 Sharpe Ratio 2.86 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 300 Exit Load 0-12 Months (1%),12 Months and above(NIL) Growth of 10,000 investment over the years.
Date Value Returns for BNP Paribas Multi Cap Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 4 Sep 26 Duration Returns 1 Month -4.4% 3 Month -4.6% 6 Month -2.6% 1 Year 19.3% 3 Year 17.3% 5 Year 13.6% 10 Year 15 Year Since launch 12.9% Historical performance (Yearly) on absolute basis
Year Returns 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 Fund Manager information for BNP Paribas Multi Cap Fund
Name Since Tenure Data below for BNP Paribas Multi Cap Fund as on 31 Jan 22
Equity Sector Allocation
Sector Value Asset Allocation
Asset Class Value Top Securities Holdings / Portfolio
Name Holding Value Quantity 5. Aditya Birla Sun Life Equity Fund
Aditya Birla Sun Life Equity Fund
Growth Launch Date 27 Aug 98 NAV (04 Sep 26) ₹1,963.56 ↓ -4.54 (-0.23 %) Net Assets (Cr) ₹28,112 on 31 Jul 26 Category Equity - Multi Cap AMC Birla Sun Life Asset Management Co Ltd Rating ☆☆☆☆ Risk Moderately High Expense Ratio 1.68 Sharpe Ratio 0.33 Information Ratio 1.35 Alpha Ratio 6.21 Min Investment 1,000 Min SIP Investment 100 Exit Load 0-365 Days (1%),365 Days and above(NIL) Growth of 10,000 investment over the years.
Date Value Returns for Aditya Birla Sun Life Equity Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 4 Sep 26 Duration Returns 1 Month -0.9% 3 Month 7.1% 6 Month 9.6% 1 Year 10.7% 3 Year 15% 5 Year 11.4% 10 Year 15 Year Since launch 20.7% Historical performance (Yearly) on absolute basis
Year Returns 2024 11.2% 2023 18.5% 2022 26% 2021 -1.1% 2020 30.3% 2019 16.1% 2018 8.5% 2017 -4.1% 2016 33.5% 2015 15.2% Fund Manager information for Aditya Birla Sun Life Equity Fund
Name Since Tenure Data below for Aditya Birla Sun Life Equity Fund as on 31 Jul 26
Equity Sector Allocation
Sector Value Asset Allocation
Asset Class Value Top Securities Holdings / Portfolio
Name Holding Value Quantity 6. Bandhan Focused Equity Fund
Bandhan Focused Equity Fund
Growth Launch Date 16 Mar 06 NAV (04 Sep 26) ₹90.244 ↑ 1.77 (2.00 %) Net Assets (Cr) ₹2,067 on 30 Jun 26 Category Equity - Multi Cap AMC IDFC Asset Management Company Limited Rating ☆☆☆☆ Risk Moderately High Expense Ratio 2.1 Sharpe Ratio -0.25 Information Ratio 0.22 Alpha Ratio 1.47 Min Investment 5,000 Min SIP Investment 100 Exit Load 0-365 Days (1%),365 Days and above(NIL) Growth of 10,000 investment over the years.
Date Value Returns for Bandhan Focused Equity Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 4 Sep 26 Duration Returns 1 Month 1.5% 3 Month 5.3% 6 Month 8.7% 1 Year 5% 3 Year 14.5% 5 Year 11.2% 10 Year 15 Year Since launch 11.3% Historical performance (Yearly) on absolute basis
Year Returns 2024 -1.6% 2023 30.3% 2022 31.3% 2021 -5% 2020 24.6% 2019 14.9% 2018 8.9% 2017 -12.7% 2016 54.4% 2015 1.8% Fund Manager information for Bandhan Focused Equity Fund
Name Since Tenure Data below for Bandhan Focused Equity Fund as on 30 Jun 26
Equity Sector Allocation
Sector Value Asset Allocation
Asset Class Value Top Securities Holdings / Portfolio
Name Holding Value Quantity 7. JM Multicap Fund
JM Multicap Fund
Growth Launch Date 23 Sep 08 NAV (04 Sep 26) ₹99.7929 ↑ 0.25 (0.25 %) Net Assets (Cr) ₹5,185 on 31 Jul 26 Category Equity - Multi Cap AMC JM Financial Asset Management Limited Rating ☆☆☆☆ Risk Moderately High Expense Ratio 1.8 Sharpe Ratio -0.07 Information Ratio 0.4 Alpha Ratio -0.14 Min Investment 5,000 Min SIP Investment 500 Exit Load 0-60 Days (1%),60 Days and above(NIL) Growth of 10,000 investment over the years.
Date Value Returns for JM Multicap Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 4 Sep 26 Duration Returns 1 Month -0.7% 3 Month 7% 6 Month 9.7% 1 Year 3% 3 Year 13.7% 5 Year 14.5% 10 Year 15 Year Since launch 13.7% Historical performance (Yearly) on absolute basis
Year Returns 2024 -6.8% 2023 33.3% 2022 40% 2021 7.8% 2020 32.9% 2019 11.4% 2018 16.6% 2017 -5.4% 2016 39.5% 2015 10.5% Fund Manager information for JM Multicap Fund
Name Since Tenure Data below for JM Multicap Fund as on 31 Jul 26
Equity Sector Allocation
Sector Value Asset Allocation
Asset Class Value Top Securities Holdings / Portfolio
Name Holding Value Quantity 8. SBI Magnum Multicap Fund
SBI Magnum Multicap Fund
Growth Launch Date 29 Sep 05 NAV (03 Sep 26) ₹108.693 ↑ 0.13 (0.12 %) Net Assets (Cr) ₹22,897 on 31 Jul 26 Category Equity - Multi Cap AMC SBI Funds Management Private Limited Rating ☆☆☆☆ Risk Moderately High Expense Ratio 1.67 Sharpe Ratio -0.22 Information Ratio -1.18 Alpha Ratio -2.51 Min Investment 1,000 Min SIP Investment 500 Exit Load 0-6 Months (1%),6-12 Months (0.5%),12 Months and above(NIL) Growth of 10,000 investment over the years.
Date Value Returns for SBI Magnum Multicap Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 4 Sep 26 Duration Returns 1 Month -1% 3 Month 4.3% 6 Month 0.1% 1 Year 0.7% 3 Year 8.4% 5 Year 7.7% 10 Year 15 Year Since launch Historical performance (Yearly) on absolute basis
Year Returns 2024 5.5% 2023 14.2% 2022 22.8% 2021 0.7% 2020 30.8% 2019 13.6% 2018 11% 2017 -5.5% 2016 37% 2015 5.8% Fund Manager information for SBI Magnum Multicap Fund
Name Since Tenure Data below for SBI Magnum Multicap Fund as on 31 Jul 26
Equity Sector Allocation
Sector Value Asset Allocation
Asset Class Value Top Securities Holdings / Portfolio
Name Holding Value Quantity
Multi cap funds aim to achieve wealth accumulation by investing in stocks of companies which offer the best combination of high growth, risk, and value. The stock picking is based on investing style which can be Value investing or growth investing. Additionally, the fund manager may consider other quantitative measures like P/E (Price / Earning) ratio, P/B (Price / Book) Ratio, EPS and Enterprise value to ensure that the portfolio is composed of only quality stocks.
Like other equity funds, multi cap funds also face the market risk wherein an overall rise or fall in the value of the index leads to a fluctuation in the fund value. Such volatility is higher than that experienced by Large cap funds but lower than small cap/mid cap funds. The fund manager is skilled at regularly modifying the asset allocation in order to take advantage of market movements.
Multi cap funds charge an expense ratio to manage your money. Till now SEBI had mandated the upper limit of expense ratio to be 2.50% (Might Change time to time as per regulation). As these funds are actively-managed to harness gains from market opportunities, it might have a higher turnover ratio and associated transaction costs. Compared to pure large caps/small caps, multi cap funds may have a higher expense ratio. However, the quantum of gains made by multi caps are good enough to compensate for high costs.
Multi cap fund are basically suitable for individuals who have a medium to long-term investment horizon. Usually, the fund experiences a lot of fluctuations during the short-run which averages out over the long-run. Those who choose multi cap funds need to be prepared to stick around at least for the said period to enable the fund to realise its full potential.
Multi cap funds can be ideal wealth creators as compared to plain large cap funds. Because of a dynamic investment strategy, these funds may accumulate larger wealth for achieving long-term Financial goals like children’s higher education or Retirement planning. Being a high risk-high return haven, these funds are capable of generating enough wealth which may help you to retire early and pursue your passion in life.
Research Highlights for Motilal Oswal Multicap 35 Fund