{"id":218369,"date":"2026-08-25T11:41:00","date_gmt":"2026-08-25T06:11:00","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=218369"},"modified":"2026-08-25T11:41:02","modified_gmt":"2026-08-25T06:11:02","slug":"nippon-india-multi-cap-fund-direct-growth-review-2026","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/nippon-india-multi-cap-fund-direct-growth-review-2026\/","title":{"rendered":"Nippon India Multi Cap Fund Direct Growth Review 2026: NAV, Returns, Portfolio &#038; Should You Invest?"},"content":{"rendered":"<p><a href=\"https:\/\/univest.in\/mutual-funds\/nippon-india-multi-cap-fund-g-direct-plan\">Nippon India Multi Cap Fund Direct Growth Plan<\/a> has a NAV of \u20b9337.9313 as of 24 August 2026 and a scheme AUM of \u20b955,587 Cr. Its 1-year, 3-year and 5-year returns are 1.58%, 15.38% and 19.47% respectively, and the fund sits in the High Risk category.<\/p>\n<p>Our view is that this is a multi-cap fund with a clear growth orientation, supported by a diversified market-cap mix but with a strong tilt toward retailing. The longer-term return pattern is more constructive than the latest 1-year outcome, so it fits investors who can tolerate sharp short-term swings in exchange for a stronger multi-year compounding profile.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/nippon-india-multi-cap-fund-direct-growth-review-2026\/#Quick_facts\" title=\"Quick facts\">Quick facts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/nippon-india-multi-cap-fund-direct-growth-review-2026\/#Performance\" title=\"Performance\">Performance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/nippon-india-multi-cap-fund-direct-growth-review-2026\/#Should_you_BUY_or_HOLD_Nippon_India_Multi_Cap\" title=\"Should you BUY or HOLD Nippon India Multi Cap?\">Should you BUY or HOLD Nippon India Multi Cap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/nippon-india-multi-cap-fund-direct-growth-review-2026\/#Peer_comparison\" title=\"Peer comparison\">Peer comparison<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/nippon-india-multi-cap-fund-direct-growth-review-2026\/#Portfolio_where_your_money_goes\" title=\"Portfolio: where your money goes\">Portfolio: where your money goes<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/nippon-india-multi-cap-fund-direct-growth-review-2026\/#Who_should_invest\" title=\"Who should invest\">Who should invest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/nippon-india-multi-cap-fund-direct-growth-review-2026\/#Tax_and_exit_load\" title=\"Tax and exit load\">Tax and exit load<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/nippon-india-multi-cap-fund-direct-growth-review-2026\/#Frequently_asked_questions\" title=\"Frequently asked questions\">Frequently asked questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/nippon-india-multi-cap-fund-direct-growth-review-2026\/#What_is_the_current_NAV_of_Nippon_India_Multi_Cap_Fund_Direct_Growth_Plan\" title=\"What is the current NAV of Nippon India Multi Cap Fund Direct Growth Plan?\">What is the current NAV of Nippon India Multi Cap Fund Direct Growth Plan?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/nippon-india-multi-cap-fund-direct-growth-review-2026\/#What_are_the_funds_1-year_3-year_and_5-year_returns\" title=\"What are the fund\u2019s 1-year, 3-year and 5-year returns?\">What are the fund\u2019s 1-year, 3-year and 5-year returns?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/nippon-india-multi-cap-fund-direct-growth-review-2026\/#How_does_the_fund_compare_with_its_benchmark\" title=\"How does the fund compare with its benchmark?\">How does the fund compare with its benchmark?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/nippon-india-multi-cap-fund-direct-growth-review-2026\/#What_is_the_minimum_SIP_amount\" title=\"What is the minimum SIP amount?\">What is the minimum SIP amount?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/nippon-india-multi-cap-fund-direct-growth-review-2026\/#Who_manages_the_fund\" title=\"Who manages the fund?\">Who manages the fund?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/nippon-india-multi-cap-fund-direct-growth-review-2026\/#What_is_the_exit_load_and_tax_treatment\" title=\"What is the exit load and tax treatment?\">What is the exit load and tax treatment?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/nippon-india-multi-cap-fund-direct-growth-review-2026\/#Bottom_line\" title=\"Bottom line\">Bottom line<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/nippon-india-multi-cap-fund-direct-growth-review-2026\/#Explore_mutual_funds_with_Univest\" title=\"Explore mutual funds with Univest\">Explore mutual funds with Univest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/nippon-india-multi-cap-fund-direct-growth-review-2026\/#RIA_disclosure\" title=\"RIA disclosure\">RIA disclosure<\/a><\/li><\/ul><\/nav><\/div>\n<h2 style=\"font-weight: bold;\"><span class=\"ez-toc-section\" id=\"Quick_facts\"><\/span>Quick facts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Particulars<\/th>\n<th>Details<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>NAV<\/td>\n<td>\u20b9337.9313<\/td>\n<\/tr>\n<tr>\n<td>AUM<\/td>\n<td>\u20b955,587 Cr<\/td>\n<\/tr>\n<tr>\n<td>Expense Ratio<\/td>\n<td>0.71%<\/td>\n<\/tr>\n<tr>\n<td>Launch Date<\/td>\n<td>01 January 2013<\/td>\n<\/tr>\n<tr>\n<td>Min SIP<\/td>\n<td>\u20b9100<\/td>\n<\/tr>\n<tr>\n<td>Risk Category<\/td>\n<td>High Risk<\/td>\n<\/tr>\n<tr>\n<td>Benchmark<\/td>\n<td>Nifty 50<\/td>\n<\/tr>\n<tr>\n<td>Fund Category<\/td>\n<td>Equity<\/td>\n<\/tr>\n<tr>\n<td>Exit Load<\/td>\n<td>Nil upto 10% of units and 1% for remaining units on or before 12M; no exit load after holding period<\/td>\n<\/tr>\n<tr>\n<td>Fund Managers<\/td>\n<td>Sailesh Raj Bhan; Kinjal Desai<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The fund is managed by Sailesh Raj Bhan and Kinjal Desai.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 24 Aug 2026<\/small><\/p>\n<h2 style=\"font-weight: bold;\"><span class=\"ez-toc-section\" id=\"Performance\"><\/span>Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Period<\/th>\n<th>Fund return<\/th>\n<th>Benchmark return<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>1M<\/td>\n<td>2.17%<\/td>\n<td>0.93%<\/td>\n<\/tr>\n<tr>\n<td>3M<\/td>\n<td>2.35%<\/td>\n<td>0.78%<\/td>\n<\/tr>\n<tr>\n<td>1Y<\/td>\n<td>1.58%<\/td>\n<td>-0.85%<\/td>\n<\/tr>\n<tr>\n<td>3Y<\/td>\n<td>15.38%<\/td>\n<td>7.08%<\/td>\n<\/tr>\n<tr>\n<td>5Y<\/td>\n<td>19.47%<\/td>\n<td>7.17%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The recent return picture is better than the benchmark over 1 month, 3 months and 1 year, but the 1-year number is still modest in absolute terms for an equity fund. That tells us the fund has not seen a straight-line run over the last twelve months, even though it stayed ahead of the benchmark over the same horizon.<\/p>\n<p>The more meaningful signal comes from the 3-year and 5-year figures. Those numbers show a much stronger compounding profile than the benchmark, which supports the view that the fund has rewarded patient holders better than the index over longer holding periods.<\/p>\n<p>The path of returns has not been smooth. The short-term movement suggests phases of weakness and recovery rather than a steady climb, while the longer-term pattern still points to recovery from earlier softness and a reasonably durable compounding trend. For investors, that combination matters because it means the fund can lag or move unevenly in shorter windows even when the longer horizon remains constructive.<\/p>\n<p>In simple terms, recent behaviour is not as strong as the 3-year and 5-year history, but it is still ahead of the benchmark across every period shown here. That mix is usually more relevant for investors who plan to stay invested through cycles rather than judge the fund on a single year.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 24 Aug 2026<\/small><\/p>\n<section class=\"univest-mf-premium-cta\" style=\"margin: 28px 0; padding: 24px; border-radius: 10px; border: 1px solid #d8e3f0; background: #f7faff;\">\n<h2 style=\"font-weight: bold;\"><span class=\"ez-toc-section\" id=\"Should_you_BUY_or_HOLD_Nippon_India_Multi_Cap\"><\/span>Should you BUY or HOLD Nippon India Multi Cap?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A fund&#8217;s past returns alone don&#8217;t tell you whether you should buy it today or continue holding it.<\/p>\n<p>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.<\/p>\n<p><strong>Already holding Nippon India Multi Cap? Thinking of investing now?<\/strong><\/p>\n<p><a style=\"font-weight: bold; text-decoration: none;\" href=\"https:\/\/univest.in\/mutual-funds\">Get your portfolio analysed for FREE by SEBI-registered Investment Adviser (RIA) through Univest MF Premium<\/a><\/p>\n<\/section>\n<h2 style=\"font-weight: bold;\"><span class=\"ez-toc-section\" id=\"Peer_comparison\"><\/span>Peer comparison<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Fund<\/th>\n<th>1Y return<\/th>\n<th>3Y return<\/th>\n<th>5Y return<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/nippon-india-multi-cap-fund-g-direct-plan\">Nippon India Multi Cap Fund Direct Growth Plan<\/a><\/td>\n<td>1.58%<\/td>\n<td>15.38%<\/td>\n<td>19.47%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/groww-multicap-fund-g-direct-plan\">Groww Multicap Fund Direct Growth Plan<\/a><\/td>\n<td>20.21%<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/trustmf-multi-cap-fund-g-direct-plan\">TRUSTMF Multi Cap Fund Direct Growth Plan<\/a><\/td>\n<td>20.12%<\/td>\n<td>Data not available<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/mahindra-manulife-multi-cap-fund-g-direct-plan\">Mahindra Manulife Multi Cap Fund Direct Growth Plan<\/a><\/td>\n<td>14.84%<\/td>\n<td>18.89%<\/td>\n<td>18.06%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/aditya-birla-sl-multi-asset-passive-fof-g-direct-plan\">Aditya Birla SL Multi &#8211; Asset Passive FoF Direct Growth Plan<\/a><\/td>\n<td>14.52%<\/td>\n<td>17.75%<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/bank-of-india-multi-cap-fund-g-direct-plan\">Bank of India Multi Cap Fund Direct Growth Plan<\/a><\/td>\n<td>14.26%<\/td>\n<td>19.56%<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.<\/p>\n<p>On one-year return, the fund trails the two faster recent peer numbers in this set, although it still outpaces the benchmark. That makes the latest stretch look mixed rather than standout.<\/p>\n<p>The longer window is more balanced. Its 3-year and 5-year returns are ahead of the benchmark and are close to the stronger multi-year peer figures available here, though some peers have a slightly better 3-year outcome. The short-term and long-term peer comparisons therefore tell different stories: the fund looks less striking over 1 year, but more credible over full-cycle holding periods.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 24 Aug 2026<\/small><\/p>\n<div class=\"univest-peer-login-cta\" style=\"margin: 20px 0; padding: 16px 18px; border: 1px solid #d8e3f0; border-radius: 8px; background: #f7faff;\">\n<p style=\"margin: 0;\"><strong>Want to know more?<\/strong> <a style=\"font-weight: bold; text-decoration: none;\" href=\"https:\/\/univest.in\/user\/log-in\">Log in to Univest<\/a> for more mutual fund insights.<\/p>\n<\/div>\n<h2 style=\"font-weight: bold;\"><span class=\"ez-toc-section\" id=\"Portfolio_where_your_money_goes\"><\/span>Portfolio: where your money goes<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The market-cap mix is 46.96% large cap, 26.4% mid cap, 24.87% small cap and 1.77% other. That is a genuinely blended multi-cap structure, with large caps still the biggest block but with meaningful exposure to mid and small caps.<\/p>\n<table>\n<thead>\n<tr>\n<th>Sector<\/th>\n<th>Weight<\/th>\n<th>Top holdings<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>RETAILING<\/td>\n<td>36.14%<\/td>\n<td>TRENT LIMITED (19.48%); FSN E-COMMERCE VENTURES LIMITED (0.88%)<\/td>\n<\/tr>\n<tr>\n<td>BANK<\/td>\n<td>9.74%<\/td>\n<td>HDFC BANK LIMITED (3.64%); AXIS BANK LIMITED (2.37%)<\/td>\n<\/tr>\n<tr>\n<td>FINANCE<\/td>\n<td>8.15%<\/td>\n<td>HDFC ASSET MANAGEMENT COMPANY LIMITED (3.53%); MAX FINANCIAL SERVICES LIMITED (1.31%)<\/td>\n<\/tr>\n<tr>\n<td>CAPITAL GOODS<\/td>\n<td>5.32%<\/td>\n<td>GE VERNOVA T&amp;D INDIA LIMITED (1.57%); VESUVIUS INDIA LIMITED (0.85%)<\/td>\n<\/tr>\n<tr>\n<td>AUTOMOBILE &amp; ANCILLARIES<\/td>\n<td>5.17%<\/td>\n<td>ZF COMMERCIAL VEHICLE CONTROL SYSTEMS INDIA LIMITED (1%); SAMVARDHANA MOTHERSON INTERNATIONAL LIMITED (0.94%)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The sector mix is led very clearly by retailing, which is materially larger than the next-largest bank and finance exposures. That concentration means the fund\u2019s near-term behaviour may be influenced more by consumer-led and retail-linked market moves than by an evenly spread sector basket.<\/p>\n<p>At the stock level, Trent is the most noticeable holding in the portfolio table and alone accounts for a meaningful share of the retailing sleeve. Even so, the overall market-cap spread remains broad enough to keep the fund firmly in multi-cap territory rather than a pure large-cap or sector fund.<\/p>\n<p>Our view is that the combination of sizeable large-cap exposure plus meaningful mid- and small-cap allocations may support long-term participation in market rallies, but it can also make returns uneven when smaller companies or the leading sector are under pressure. The retailing weight is the single biggest driver to watch.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 24 Aug 2026<\/small><\/p>\n<h2 style=\"font-weight: bold;\"><span class=\"ez-toc-section\" id=\"Who_should_invest\"><\/span>Who should invest<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This fund suits investors who are comfortable with High Risk and can stay invested for several years. The 1-year outcome is subdued relative to the stronger 3-year and 5-year trend, so it is better suited to people who can tolerate short-term inconsistency rather than those who want a smooth path.<\/p>\n<p>The main trade-off is that the fund offers a stronger longer-term return profile than the benchmark, but its recent performance has been much less impressive than its multi-year history. The market-cap mix also adds potential upside from mid- and small-cap exposure, while increasing volatility. That makes it more appropriate for investors who want a multi-cap equity allocation and can wait through weaker phases.<\/p>\n<h2 style=\"font-weight: bold;\"><span class=\"ez-toc-section\" id=\"Tax_and_exit_load\"><\/span>Tax and exit load<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<thead>\n<tr>\n<th>Holding period<\/th>\n<th>Tax rate<\/th>\n<th>Description<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Units held less than 1 year<\/td>\n<td>20%<\/td>\n<td>Short-term capital gains tax<\/td>\n<\/tr>\n<tr>\n<td>Units held more than 1 year<\/td>\n<td>12.5%<\/td>\n<td>Long-term capital gains tax<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>Exit load<\/strong><\/p>\n<p>Nil upto 10% of units and 1% for remaining units on or before 12 months. No exit load after the holding period.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 24 Aug 2026<\/small><\/p>\n<h2 style=\"font-weight: bold;\"><span class=\"ez-toc-section\" id=\"Frequently_asked_questions\"><\/span>Frequently asked questions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3 style=\"font-weight: bold;\"><span class=\"ez-toc-section\" id=\"What_is_the_current_NAV_of_Nippon_India_Multi_Cap_Fund_Direct_Growth_Plan\"><\/span>What is the current NAV of Nippon India Multi Cap Fund Direct Growth Plan?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The current NAV is \u20b9337.9313 as of 24 August 2026.<\/p>\n<h3 style=\"font-weight: bold;\"><span class=\"ez-toc-section\" id=\"What_are_the_funds_1-year_3-year_and_5-year_returns\"><\/span>What are the fund\u2019s 1-year, 3-year and 5-year returns?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The fund\u2019s 1-year, 3-year and 5-year returns are 1.58%, 15.38% and 19.47% respectively.<\/p>\n<h3 style=\"font-weight: bold;\"><span class=\"ez-toc-section\" id=\"How_does_the_fund_compare_with_its_benchmark\"><\/span>How does the fund compare with its benchmark?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>It is ahead of the benchmark across 1 month, 3 months, 1 year, 3 years and 5 years. The gap is much wider over 3-year and 5-year periods than over the latest year.<\/p>\n<h3 style=\"font-weight: bold;\"><span class=\"ez-toc-section\" id=\"What_is_the_minimum_SIP_amount\"><\/span>What is the minimum SIP amount?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The minimum SIP amount is \u20b9100.<\/p>\n<h3 style=\"font-weight: bold;\"><span class=\"ez-toc-section\" id=\"Who_manages_the_fund\"><\/span>Who manages the fund?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The fund is managed by Sailesh Raj Bhan and Kinjal Desai.<\/p>\n<h3 style=\"font-weight: bold;\"><span class=\"ez-toc-section\" id=\"What_is_the_exit_load_and_tax_treatment\"><\/span>What is the exit load and tax treatment?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The fund has nil exit load up to 10% of units and 1% for the remaining units if redeemed on or before 12 months, and no exit load after that. Short-term capital gains tax is 20% for units held less than 1 year, while long-term capital gains tax is 12.5% for units held more than 1 year.<\/p>\n<h2 style=\"font-weight: bold;\"><span class=\"ez-toc-section\" id=\"Bottom_line\"><\/span>Bottom line<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Nippon India Multi Cap Fund Direct Growth Plan has a weaker-looking latest 1-year stretch than its longer-term record, but its 3-year and 5-year returns remain meaningfully ahead of the benchmark. The peer set also shows that the fund is competitive over longer holding periods, even if some peers have stronger recent 1-year numbers. Its High Risk profile and meaningful mid- and small-cap exposure mean it is better suited to investors who can accept volatility. The heavy retailing tilt is the main portfolio feature to watch.<\/p>\n<p class=\"univest-posted-at\" style=\"font-size: 14px; color: #666; margin: 20px 0 8px;\">Published on 25 August 2026 at 11:37 AM IST<\/p>\n<section class=\"univest-login-cta\" style=\"margin: 28px 0; padding: 24px; border-radius: 10px; background: #eef5ff; border: 1px solid #cddff7; text-align: center;\">\n<h2 style=\"font-weight: bold;\"><span class=\"ez-toc-section\" id=\"Explore_mutual_funds_with_Univest\"><\/span>Explore mutual funds with Univest<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Review mutual fund data, compare performance and explore fund insights on Univest.<\/p>\n<p><a style=\"display: inline-block; padding: 11px 20px; border-radius: 6px; background: #1f4e79; color: #fff !important; text-decoration: none; font-weight: bold;\" href=\"https:\/\/univest.in\/user\/log-in\">Explore Univest<\/a><\/p>\n<\/section>\n<section class=\"univest-disclaimer\">\n<h2 style=\"font-weight: bold;\"><span class=\"ez-toc-section\" id=\"RIA_disclosure\"><\/span>RIA disclosure<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>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.<\/p>\n<\/section>\n<p><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"InvestmentFund\",\"name\":\"Nippon India Multi Cap Fund Direct Growth Plan\",\"identifier\":\"nippon-india-multi-cap-fund-g-direct-plan\",\"category\":\"Equity\",\"dateCreated\":\"01 Jan 2013\",\"isAccessibleForFree\":true,\"additionalProperty\":[{\"@type\":\"PropertyValue\",\"name\":\"NAV\",\"value\":337.9313,\"valueReference\":\"as of 24 Aug 2026\"},{\"@type\":\"PropertyValue\",\"name\":\"AUM\",\"value\":\"55587 Cr\"},{\"@type\":\"PropertyValue\",\"name\":\"Expense Ratio\",\"value\":\"0.71\"},{\"@type\":\"PropertyValue\",\"name\":\"Benchmark\",\"value\":\"Nifty 50\"},{\"@type\":\"PropertyValue\",\"name\":\"1Y Return\",\"value\":1.5796},{\"@type\":\"PropertyValue\",\"name\":\"3Y Return\",\"value\":15.3789},{\"@type\":\"PropertyValue\",\"name\":\"5Y Return\",\"value\":19.4722},{\"@type\":\"PropertyValue\",\"name\":\"Fund Managers\",\"value\":\"Sailesh Raj Bhan, Kinjal Desai\"}]}<\/script><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the current NAV of Nippon India Multi Cap Fund Direct Growth Plan?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The current NAV is \u20b9337.9313 as of 24 August 2026.\"}},{\"@type\":\"Question\",\"name\":\"What are the fund\u2019s 1-year, 3-year and 5-year returns?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The fund\u2019s 1-year, 3-year and 5-year returns are 1.58%, 15.38% and 19.47% respectively.\"}},{\"@type\":\"Question\",\"name\":\"How does the fund compare with its benchmark?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"It is ahead of the benchmark across 1 month, 3 months, 1 year, 3 years and 5 years. The gap is much wider over 3-year and 5-year periods than over the latest year.\"}},{\"@type\":\"Question\",\"name\":\"What is the minimum SIP amount?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The minimum SIP amount is \u20b9100.\"}},{\"@type\":\"Question\",\"name\":\"Who manages the fund?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The fund is managed by Sailesh Raj Bhan and Kinjal Desai.\"}},{\"@type\":\"Question\",\"name\":\"What is the exit load and tax treatment?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The fund has nil exit load up to 10% of units and 1% for the remaining units if redeemed on or before 12 months, and no exit load after that. Short-term capital gains tax is 20% for units held less than 1 year, while long-term capital gains tax is 12.5% for units held more than 1 year.\"}}]}<\/script><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"Person\",\"name\":\"{{ANALYST_NAME}}\",\"affiliation\":{\"@type\":\"Organization\",\"name\":\"Uniapps Investment Adviser Pvt. Ltd.\"},\"description\":\"Uniapps Investment Adviser Pvt. Ltd. \u2014 SEBI Registered Investment Adviser INA000017639\"}<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nippon India Multi Cap Fund Direct Growth Plan has a \u20b9337.9313 NAV and \u20b955,587 Cr AUM as of 24 August 2026. Its 1Y, 3Y and 5Y returns are 1.58%, 15.38% and 19.47%.<\/p>\n","protected":false},"author":29,"featured_media":218368,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3841],"tags":[],"class_list":["post-218369","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mutual-funds"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["218368"],"rank_math_title":["Nippon India Multi Cap Fund NAV, Returns &amp; Review"],"rank_math_description":["Nippon India Multi Cap Fund Direct Growth Plan NAV is \u20b9337.9313; 5Y return is 19.47% as of 24 Aug 2026."],"rank_math_focus_keyword":["Nippon India Multi Cap Fund Direct Growth Plan 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