Tata Multicap Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Tata Multicap Fund Direct Growth Plan currently has a NAV of ₹15.8281 as of 17 September 2026 and a scheme AUM of ₹3,575 Cr. Its 1-year, 3-year and 5-year returns are 5.79%, 9.32% and Data not available, respectively, and the fund sits in the High Risk bucket.
Our view is that this is a multicap equity fund that has delivered a steadier longer-run pattern than its weak recent stretch suggests, but the current return profile still looks uneven versus the benchmark. The portfolio mix includes large bank exposure and a meaningful long tail, so the fund may suit investors who can tolerate short-term swings in exchange for diversified equity exposure.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹15.8281 as of 17 Sep 2026 |
| AUM | ₹3,575 Cr |
| Expense Ratio | 0.4% |
| Launch Date | 02 Feb 2023 |
| Min SIP | ₹150 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | 0.50% on or before 30D, Nil after 30D |
| Fund Managers | Meeta Shetty, Murthy Nagarajan, Hasmukh Vishariya |
The fund is managed by Meeta Shetty, Murthy Nagarajan and Hasmukh Vishariya.
Source data date: as of 17 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.75% | -3.66% |
| 3M | -2.05% | -3.71% |
| 1Y | 5.79% | -7.13% |
| 3Y | 9.32% | 5.82% |
| 5Y | Data not available | Data not available |
The last month and last three months both show a soft patch, so the fund has not been moving in a straight line. Even so, the 1-year return remains positive while the benchmark is negative over the same period, which tells us the fund has handled the recent one-year window better than Nifty 50.
The longer trend is more constructive. The 3-year return of 9.32% is above the benchmark’s 5.82%, suggesting that the fund has added value over a fuller cycle even after accounting for weaker phases. That matters because the short-term numbers alone could make the fund look more fragile than its medium-term record indicates.
At the same time, the recent pullback means the pattern is not one of smooth compounding. Our reading is that this is still an equity fund whose outcomes will likely depend on market conditions, but the benchmark comparison shows it has been able to hold up better than the index over the 1-year and 3-year periods.
Because the fund launched in February 2023, there is no five-year record yet. That short track length makes the 1-year and 3-year profile more useful than any attempt to read too much into long-horizon expectations.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD Tata Multicap?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding Tata Multicap? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Tata Multicap Fund Direct Growth Plan | 5.79% | 9.32% | Data not available |
| Bank of India Flexi Cap Fund Direct Growth Plan | 10.1% | 18.09% | 16.01% |
| ITI Flexi Cap Fund Direct Growth Plan | 9.54% | 17.61% | Data not available |
| Navi Flexi Cap Fund Direct Growth Plan | 7.9% | 10.18% | 10.89% |
| LIC MF Multi Cap Fund Direct Growth Plan | 7.11% | 17.04% | Data not available |
| Aditya Birla SL Flexi Cap Fund Direct Growth Plan | 5.94% | 13.33% | 10.98% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the one-year view, the fund sits below the stronger peer returns in this set, with Bank of India Flexi Cap Fund Direct Growth Plan and ITI Flexi Cap Fund Direct Growth Plan ahead on the same measure. The 3-year picture is mixed but still respectable: the fund is ahead of Navi Flexi Cap Fund Direct Growth Plan and Aditya Birla SL Flexi Cap Fund Direct Growth Plan, while Bank of India Flexi Cap Fund Direct Growth Plan and ITI Flexi Cap Fund Direct Growth Plan remain stronger on that horizon. The short-term comparison therefore looks softer than the medium-term one.
Source data date: as of 17 Sep 2026
Want to know more? Log in to Univest for more mutual fund insights.
Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| HDFC Bank Ltd | Bank | 5.11% |
| Adani Ports and Special Economic Zone Ltd | Logistics | 3.12% |
| Cash / Net Current Asset | Cash & Cash Equivalents and Net Assets | 3.11% |
| Reliance Industries Ltd | Crude Oil | 2.5% |
| Axis Bank Ltd | Bank | 2.18% |
| NTPC Ltd | Power | 2.13% |
| ICICI Bank Ltd | Bank | 2.09% |
| Pearl Global Industries Ltd | Textile | 2% |
| Dixon Technologies (India) Ltd | Consumer Durables | 1.9% |
| Maruti Suzuki India Ltd | Automobile & Ancillaries | 1.89% |
The top 10 holdings account for approximately 26.03% of the portfolio.
To see all holdings, visit the Tata Multicap Fund Direct Growth Plan page
The largest holding, HDFC Bank Ltd, is 5.11%, which is meaningful but not dominating. From the first holding to the tenth, the weights step down fairly gradually rather than collapsing into a few oversized positions, and that pattern may reduce single-stock dependence.
The disclosed holdings also suggest a wide spread beyond the top list, because the top 10 together make up 26.03% while 74 holdings are shown in total. That points to a portfolio where the longer tail is likely to matter, even though the largest bank positions may still have greater influence than the smaller names at the edge of the list.
We would read this as a diversified equity mix rather than a tightly concentrated basket. The presence of several banks at the top, along with transport, power, oil, industrial and consumer names, means outcomes may be shaped by multiple sectors instead of a single theme.
Source data date: as of 17 Sep 2026
Who should invest
This fund suits investors who can tolerate High Risk volatility and who are comfortable with a multiyear holding period. The one-year record is positive while the benchmark is negative, and the 3-year record is also ahead of the benchmark, but the recent 1-month and 3-month numbers show that drawdowns can still appear.
It may appeal to investors who want diversified equity exposure across large and mid-sized businesses rather than a narrow sector bet. The trade-off is that the path is unlikely to be smooth, so the fund fits people who can stay invested through short-term softness in pursuit of medium-term compounding.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load: 0.50% on or before 30D, Nil after 30D.
Source data date: as of 17 Sep 2026
Frequently asked questions
What is the current NAV of Tata Multicap Fund Direct Growth Plan?
The current NAV is ₹15.8281 as of 17 September 2026.
How has Tata Multicap Fund Direct Growth Plan performed over 1 year, 3 years and 5 years?
Its 1-year return is 5.79% and its 3-year return is 9.32%. A 5-year return is Data not available because the fund has not been running long enough.
How does the fund compare with Nifty 50?
It has outperformed Nifty 50 over both the 1-year and 3-year periods in the table above. The benchmark is negative over 1 year, while the fund stays positive.
Which peer funds have stronger recent returns?
Bank of India Flexi Cap Fund Direct Growth Plan and ITI Flexi Cap Fund Direct Growth Plan show stronger 1-year and 3-year returns than this fund. Navi Flexi Cap Fund Direct Growth Plan and Aditya Birla SL Flexi Cap Fund Direct Growth Plan show weaker 3-year returns.
What is the minimum SIP amount?
The minimum SIP amount is ₹150.
Who manages the fund and what is the exit load?
The fund is managed by Meeta Shetty, Murthy Nagarajan and Hasmukh Vishariya. The exit load is 0.50% on or before 30D and nil after 30D.
Bottom line
Tata Multicap Fund Direct Growth Plan looks stronger over 1 year and 3 years than its recent one- and three-month softness suggests, but it does not offer a smooth ride. Compared with the peer set on available return data, the fund trails the strongest recent names while still staying competitive on the 3-year horizon. The High Risk label, bank-heavy top holdings and broad 74-holding spread point to a diversified equity fund that may suit patient investors who can live with short-term volatility.
Published on 18 September 2026 at 10:37 AM IST
Explore mutual funds with Univest
Review mutual fund data, compare performance and explore fund insights on Univest.
RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.