Navi Flexi Cap Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 16, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Navi Flexi Cap Fund Direct Growth Plan has a NAV of ₹28.4882 as of 15 Sep 2026 and manages ₹297 Cr in scheme assets. Its 1-year, 3-year and 5-year returns are 11.28%, 10.93% and 11.59% respectively, and the fund sits in the High Risk bucket. Our view is that this is a flexi-cap scheme that has delivered steady medium- to long-term compounding, but the recent stretch has been more uneven, so it may suit investors who can tolerate volatility in exchange for diversified equity exposure.
The portfolio still looks meaningfully active, with bank stocks, industrial names and select healthcare and services holdings among the larger positions. That mix can help the fund participate in different market phases, but it also means returns may not move in a straight line from one period to the next.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹28.4882 as of 15 Sep 2026 |
| AUM | ₹297 Cr |
| Expense Ratio | 0.56% |
| Launch Date | 09 Jul 2018 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | No exit load |
| Fund Managers | Ashutosh Shirwaikar |
The fund is managed by Ashutosh Shirwaikar.
Source data date: as of 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -4.09% | -4.81% |
| 3M | 0.66% | -3.63% |
| 1Y | 11.28% | -8.27% |
| 3Y | 10.93% | 5.59% |
| 5Y | 11.59% | 5.58% |
The recent picture is mixed, but not weak. Over 1 month, the fund slipped 4.09%, yet that decline was still smaller than the benchmark’s 4.81% fall. Over 3 months, it turned positive at 0.66% while the benchmark remained negative at 3.63%, which tells us the fund has recently held up better than the index.
The 1-year figure is even more useful for context. The fund’s 11.28% return stands well above the benchmark’s -8.27%, showing a much stronger one-year outcome than the index delivered. That said, the path through the year was not smooth, so the result looks more like an uneven recovery than a steady climb.
Over 3 years and 5 years, the fund’s 10.93% and 11.59% returns are both ahead of the benchmark’s 5.59% and 5.58%. The longer record therefore supports the case that the fund has compounded better than the index over time. Our read is that the fund has shown resilience across longer holding periods even though short-term patches can still be volatile.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD Navi Flexi 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 Navi Flexi Cap? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| ITI Flexi Cap Fund Direct Growth Plan | 14.07% | 18.14% | Data not available |
| Bank of India Flexi Cap Fund Direct Growth Plan | 13.32% | 18.71% | 16.79% |
| Navi Flexi Cap Fund Direct Growth Plan | 11.28% | 10.93% | 11.59% |
| LIC MF Multi Cap Fund Direct Growth Plan | 10.4% | 17.5% | Data not available |
| TRUSTMF Flexi Cap Fund Direct Growth Plan | 10.22% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the recent one-year view, the fund trails the stronger peer figures in this group, where the leading available returns are in the low-to-mid teens. The gap is more visible in the 3-year column, where two peers have materially higher numbers, while the fund’s 5-year return is respectable but still below the available peer that reports a 5-year figure.
The short-term and longer-term pictures therefore differ. The fund has been steadier against its benchmark than against the peer set, but the peer group shows a wider spread of outcomes across time horizons. That makes the fund look more like a consistent, middle-ground compounding option than a standout on the return numbers alone.
Source data date: as of 15 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Treps/Reverse Repo/Net Current Assets/Cash/Cash Equivalent | Cash & Cash Equivalents and Net Assets | 5.7% |
| ICICI Bank Limited | Bank | 3.81% |
| Axis Bank Limited | Bank | 3.69% |
| HDFC Bank Limited | Bank | 3.14% |
| Usha Martin Ltd | Iron & Steel | 2.95% |
| Samvardhana Motherson International Ltd | Automobile & Ancillaries | 2.93% |
| Kotak Mahindra Bank Limited | Bank | 2.9% |
| Rainbow Childrens Medicare Limited | Healthcare | 2.28% |
| BLS International Services Limited | Business Services | 2.16% |
| Yash Highvoltage Ltd | Domestic Equities | 2.02% |
The top 10 holdings account for approximately 31.58% of the portfolio.
To see all holdings, visit the Navi Flexi Cap Fund Direct Growth Plan page
At 5.7%, the largest single holding is cash and cash equivalents rather than a company stock, which may give the portfolio some flexibility but also means part of the scheme is held defensively. Among equity names, the biggest positions are all in the low-to-mid 3% range, so the gap from first to tenth holding is not extreme, but it is large enough to show that the fund spreads capital across multiple ideas.
The top 10 together account for 31.58% of the portfolio, while the scheme discloses 62 holdings in total. That combination suggests a reasonably broad spread beyond the largest positions, even though the first few names may still have more influence on short-term results than the smaller tail of holdings.
From a risk perspective, this structure could soften dependence on any single stock, but it may also mean the fund’s style is more about balanced diversification than highly concentrated conviction. For investors, the main takeaway is that performance will likely reflect a mix of bank exposure, selected industrial names and a meaningful cash buffer.
Source data date: as of 15 Sep 2026
Who should invest
This fund is better suited to investors who can handle High Risk equity volatility and are comfortable with returns that may move around from period to period. The 1-year, 3-year and 5-year numbers show that the fund has compounded at a decent pace over time, but the recent month-to-month path has been uneven.
It fits best as a medium- to long-horizon allocation where the investor values diversified equity exposure rather than a narrow thematic bet. The main trade-off is that the fund has beaten the benchmark over the periods shown, but it has not matched the stronger peer numbers in every horizon, so investors may have to accept a return profile that is solid but not the most aggressive.
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: No exit load.
Source data date: as of 15 Sep 2026
Frequently asked questions
What is the current NAV of Navi Flexi Cap Fund Direct Growth Plan?
The current NAV is ₹28.4882 as of 15 Sep 2026.
How have the fund’s 1-year, 3-year and 5-year returns looked?
The fund’s returns are 11.28% for 1 year, 10.93% for 3 years and 11.59% for 5 years.
How does the fund compare with the Nifty 50 benchmark?
The fund has outpaced the Nifty 50 across the 1-year, 3-year and 5-year periods shown. The gap is especially wide over 1 year, where the benchmark is negative.
How does it compare with peer flexi-cap funds on the available numbers?
On the available figures, the fund trails some peers on 1-year, 3-year and 5-year returns, while still showing steady longer-term compounding. The peer set also has missing 5-year or 3-year figures for some schemes, so the picture is not uniform across all funds.
What is the minimum SIP for this fund?
The minimum SIP is ₹100.
What should investors know about risk, portfolio mix and exit load?
The fund is classified as High Risk, and the portfolio has a noticeable bank-heavy core along with industrial, healthcare and services holdings. There is no exit load.
Bottom line
Navi Flexi Cap Fund Direct Growth Plan looks steadier over longer horizons than in the very near term, with 3-year and 5-year returns that stay ahead of the benchmark. Against peers, the fund is not the strongest on the available return figures, but it does offer a more measured compounding profile. The portfolio’s mix of bank exposure, other equities and cash equivalents suggests a diversified approach rather than a concentrated one. That makes it more suitable for investors who can accept High Risk equity swings and want a balanced flexi-cap holding with a long enough horizon to absorb volatility.
Published on 16 September 2026 at 7:57 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.