Edelweiss Multi Cap Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Edelweiss Multi Cap Fund Direct Growth Plan has a NAV of ₹16.1997 as of 17 Sep 2026 and scheme AUM of ₹3,550 Cr. Its 1-year, 3-year and 5-year returns are 3.76%, 0% and 0%, and the scheme carries a High Risk profile. Our view is that the fund suits investors who can tolerate sharp swings and who want an equity allocation that is still early in its track record, rather than a steadier long-horizon compounder.
The fund has moved only modestly ahead over the latest year, while the benchmark has been weaker over the same period. The portfolio is spread across 81 holdings, with the largest positions concentrated in banks, infrastructure, energy and related businesses. That mix may appeal to investors looking for multi-cap exposure with active stock selection, but the short operating history and limited longer-term return record call for caution.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹16.1997 as of 17 Sep 2026 |
| AUM | ₹3,550 Cr |
| Expense Ratio | 0.41% |
| Launch Date | 25 Oct 2023 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | 1% on or before 90D, Nil after 90D |
| Fund Managers | Trideep Bhattacharya, Sumanta Khan, Raj Koradia, Amit Vora |
The fund is managed by Trideep Bhattacharya, Sumanta Khan, Raj Koradia, and Amit Vora.
Source data date: as of 17 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.81% | -3.66% |
| 3M | 0.36% | -3.71% |
| 1Y | 3.76% | -7.13% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The recent pattern is uneven, but not uniformly weak. Over one month, the fund slipped by 3.81%, which is broadly in line with the softer benchmark environment, while the 3-month return of 0.36% shows a mild recovery after that weakness. The benchmark was still negative over both of those periods, so the fund has held up a little better than the index in the shorter window.
The 1-year figure matters more for context. At 3.76%, the fund is positive over the year, while the benchmark is down 7.13%, so the fund has clearly handled the same market backdrop better than the index. That said, the short history of the scheme means there is no genuine 3-year or 5-year record to judge a full compounding cycle, so the current picture is still incomplete.
The daily pattern in the year-long series also points to a fund that has not moved in a straight line. There were periods of drawdown, a mid-period recovery, and then a softer finish. For investors, that usually means the scheme may participate in equity upside, but it may also be exposed to the same kinds of reversals that affect a diversified stock portfolio.
Because the benchmark comparison is currently favourable over 1 year and mixed over the very short term, our view is that the fund is best assessed as a developing multi-cap strategy rather than as a mature long-term record. The key question is whether the current portfolio construction can turn that early stability into more durable compounding.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD Edelweiss Multi Cap?
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 Edelweiss Multi Cap? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Edelweiss Multi Cap Fund Direct Growth Plan | 3.76% | Data not available | 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 1-year measure, the fund trails each of the named peer funds with available figures, which shows that its recent gain has been modest beside stronger short-term numbers elsewhere. The difference is more pronounced over the longer windows where peers have usable 3-year and 5-year records, because this scheme does not yet have comparable history to show the same depth of compounding.
That split matters. The current fund has at least held positive over 1 year while the benchmark has been negative, but the peer set suggests that better-established multi-cap and flexi-cap options have already built a more visible return base. So the short-term story is acceptable, yet the longer-term comparison is still unproven rather than clearly competitive.
Source data date: as of 17 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| ICICI Bank Ltd. | Bank | 4.04% |
| Clearing Corporation of India Ltd. | Cash & Cash Equivalents and Net Assets | 3.85% |
| Larsen & Toubro Ltd. | Infrastructure | 2.99% |
| Radico Khaitan Ltd. | Alcohol | 2.77% |
| Karur Vysya Bank Ltd. | Bank | 2.68% |
| Reliance Industries Ltd. | Crude Oil | 2.37% |
| Multi Commodity Exchange of India Ltd. | Finance | 2.3% |
| City Union Bank Ltd. | Bank | 2.21% |
| HDFC Bank Ltd. | Bank | 2.19% |
| NTPC Ltd. | Power | 2% |
The top 10 holdings account for approximately 27.4% of the portfolio.
To see all holdings, visit the Edelweiss Multi Cap Fund Direct Growth Plan page
ICICI Bank Ltd. is the largest disclosed holding at 4.04%, and the gap to the tenth holding, NTPC Ltd. at 2%, is not extreme. That suggests the visible core is fairly evenly spread rather than dominated by one position, although the largest names still matter more because they sit at the top of the list.
The weights step down in a fairly gradual way from the first holding through the tenth, which may reduce reliance on any single stock but still leaves meaningful exposure to a small cluster of financials, infrastructure, energy and related businesses. With 81 holdings in total and the top 10 making up 27.4% of the portfolio, the scheme likely has a broad tail beyond the disclosed leaders.
That structure points to a portfolio that is not narrowly concentrated, yet it is also not fully diffuse. The mix of a moderate top-10 share and a longer holding list may give the fund room to benefit from stock selection while spreading risk across many names.
Source data date: as of 17 Sep 2026
Who should invest
This fund is suitable for investors who can handle High Risk equity exposure and who are comfortable with a track record that is still developing. The 1-year result is positive, but the absence of a real 3-year or 5-year record means the longer-horizon picture is not yet established.
It fits better as a multi-year allocation than as a short-term parking place. Investors who want benchmark-beating behaviour over the latest year and are willing to accept normal equity volatility may find the setup reasonable, but they should also accept that the evidence for durable compounding is still limited.
The main trade-off is between early evidence of resilience versus the lack of a full cycle record. The portfolio breadth is helpful, but the fund still carries the same market swings that come with active equity investing.
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: 1% on or before 90D, Nil after 90D.
No exit load applies after the holding period.
Source data date: as of 17 Sep 2026
Frequently asked questions
What is the current NAV of Edelweiss Multi Cap Fund Direct Growth Plan?
Its NAV is ₹16.1997 as of 17 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 3.76%, while the 3-year and 5-year returns are not available as usable track record figures.
How has the fund performed against the benchmark?
Over 1 year, the fund has returned 3.76% versus -7.13% for Nifty 50. Over 1 month and 3 months, it has also been slightly better than the benchmark.
How does it compare with the peer funds shown here?
Its 1-year return is below the peer funds listed with available figures. Several peers also have longer 3-year and 5-year histories that this scheme does not yet have.
Is there a minimum SIP amount mentioned?
No minimum SIP amount is stated here.
Who manages the fund and what is the exit load?
The fund is managed by Trideep Bhattacharya, Sumanta Khan, Raj Koradia, and Amit Vora. The exit load is 1% on or before 90D and nil after 90D.
Bottom line
Edelweiss Multi Cap Fund Direct Growth Plan has shown a positive 1-year result and has outpaced its benchmark over the same period, but it does not yet have a usable 3-year or 5-year return history. That makes the short-term picture encouraging but incomplete. The High Risk label, the broad 81-holding portfolio and the moderate top-10 concentration suggest a diversified equity approach with active stock selection, but investors still need to be comfortable with market swings and a developing track record.
Published on 18 September 2026 at 9:48 AM IST
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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.