{"id":224846,"date":"2026-08-31T17:28:11","date_gmt":"2026-08-31T11:58:11","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/axis-business-cycles-fund-direct-growth-review-2026\/"},"modified":"2026-08-31T17:28:11","modified_gmt":"2026-08-31T11:58:11","slug":"axis-business-cycles-fund-direct-growth-review-2026","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/axis-business-cycles-fund-direct-growth-review-2026\/","title":{"rendered":"Axis Business Cycles Fund Direct Growth Review 2026: NAV, Returns, Portfolio &#038; Should You Invest?"},"content":{"rendered":"<p><a href=\"https:\/\/univest.in\/mutual-funds\/axis-business-cycles-fund-g-direct-plan\">Axis Business Cycles Fund Direct Growth Plan<\/a> has a NAV of \u20b918.39 as of 28 August 2026 and scheme AUM of \u20b92,106 Cr. Its 1-year, 3-year and 5-year returns are 9.66%, 15.50% and 0% respectively, and the fund carries a High Risk label.<\/p>\n<p>Our view is that this is a fund for investors who can tolerate uneven periods because the recent return path has been more modest than the stronger 3-year history, while the portfolio mix remains tilted toward cyclical sectors and a meaningful small-cap allocation. That combination can create sharper swings than a plain large-cap style portfolio.<\/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\/axis-business-cycles-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\/axis-business-cycles-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\/axis-business-cycles-fund-direct-growth-review-2026\/#Should_you_BUY_or_HOLD_Axis_Business_Cycles\" title=\"Should you BUY or HOLD Axis Business Cycles?\">Should you BUY or HOLD Axis Business Cycles?<\/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\/axis-business-cycles-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\/axis-business-cycles-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\/axis-business-cycles-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\/axis-business-cycles-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\/axis-business-cycles-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\/axis-business-cycles-fund-direct-growth-review-2026\/#What_is_the_current_NAV_of_Axis_Business_Cycles_Fund_Direct_Growth_Plan\" title=\"What is the current NAV of Axis Business Cycles Fund Direct Growth Plan?\">What is the current NAV of Axis Business Cycles 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\/axis-business-cycles-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\/axis-business-cycles-fund-direct-growth-review-2026\/#How_has_the_fund_performed_versus_the_Nifty_50_benchmark\" title=\"How has the fund performed versus the Nifty 50 benchmark?\">How has the fund performed versus the Nifty 50 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\/axis-business-cycles-fund-direct-growth-review-2026\/#How_does_it_compare_with_the_peer_funds_listed_here\" title=\"How does it compare with the peer funds listed here?\">How does it compare with the peer funds listed here?<\/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\/axis-business-cycles-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-14\" href=\"https:\/\/univest.in\/blogs-2\/axis-business-cycles-fund-direct-growth-review-2026\/#Who_manages_the_fund_and_what_is_the_exit_load\" title=\"Who manages the fund and what is the exit load?\">Who manages the fund and what is the exit load?<\/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\/axis-business-cycles-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\/axis-business-cycles-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\/axis-business-cycles-fund-direct-growth-review-2026\/#RIA_disclosure\" title=\"RIA disclosure\">RIA disclosure<\/a><\/li><\/ul><\/nav><\/div>\n<h2 style=\"font-weight:700\"><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>Item<\/th>\n<th>Value<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>NAV<\/td>\n<td>\u20b918.39<\/td>\n<\/tr>\n<tr>\n<td>AUM<\/td>\n<td>\u20b92,106 Cr<\/td>\n<\/tr>\n<tr>\n<td>Expense Ratio<\/td>\n<td>0.74%<\/td>\n<\/tr>\n<tr>\n<td>Launch Date<\/td>\n<td>22 February 2023<\/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 for 10% of investment and 1% for the remaining investment if units are sold within 12 months; no exit load after 12 months.<\/td>\n<\/tr>\n<tr>\n<td>Fund Managers<\/td>\n<td>Ashish Naik<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The fund is managed by Ashish Naik.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 28 Aug 2026<\/small><\/p>\n<h2 style=\"font-weight:700\"><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>3.26%<\/td>\n<td>-0.85%<\/td>\n<\/tr>\n<tr>\n<td>3M<\/td>\n<td>8.75%<\/td>\n<td>3.39%<\/td>\n<\/tr>\n<tr>\n<td>1Y<\/td>\n<td>9.66%<\/td>\n<td>-2.29%<\/td>\n<\/tr>\n<tr>\n<td>3Y<\/td>\n<td>15.50%<\/td>\n<td>6.40%<\/td>\n<\/tr>\n<tr>\n<td>5Y<\/td>\n<td>0%<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The recent numbers are better than the benchmark across every available period, including a strong 1-month and 3-month showing. That short-term strength matters because it suggests the fund has been able to participate in a more favourable market phase even while the benchmark has remained soft over the same windows.<\/p>\n<p>The more important question is whether that recent improvement changes the longer story. On a 3-year basis, the fund has still compounded at 15.50%, which is materially ahead of the Nifty 50\u2019s 6.40% over the same period. So the fund\u2019s medium-term record remains healthy even after some short-term variation.<\/p>\n<p>The 1-year path is more subdued than the 3-year figure, and that tells us the fund has not moved in a straight line. The time pattern indicates a period of drawdown and recovery, which is consistent with a portfolio that is willing to take cyclical risk rather than aim for steady, benchmark-like behaviour.<\/p>\n<p>For investors, the main takeaway is that the fund has outpaced the benchmark on all available periods, but the journey has not been smooth. The return pattern points to a strategy that can do well when its sector and style exposures are working, while also being vulnerable to stretches of weakness.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 28 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:700\"><span class=\"ez-toc-section\" id=\"Should_you_BUY_or_HOLD_Axis_Business_Cycles\"><\/span>Should you BUY or HOLD Axis Business Cycles?<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 Axis Business Cycles? Thinking of investing now?<\/strong><\/p>\n<p><a href=\"https:\/\/univest.in\/mutual-funds\" style=\"font-weight:700;text-decoration:none\">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:700\"><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\/axis-business-cycles-fund-g-direct-plan\">Axis Business Cycles Fund Direct Growth Plan<\/a><\/td>\n<td>9.66%<\/td>\n<td>15.50%<\/td>\n<td>0%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/icici-pru-strategic-metal-and-energy-equity-fof-g-direct-plan\">ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan<\/a><\/td>\n<td>74.63%<\/td>\n<td>37.41%<\/td>\n<td>Data not available<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/sbi-automotive-opportunities-fund-g-direct-plan\">SBI Automotive Opportunities Fund Direct Growth Plan<\/a><\/td>\n<td>36.18%<\/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\/aditya-birla-sl-mfg-equity-fund-g-direct-plan\">Aditya Birla SL Mfg. Equity Fund Direct Growth Plan<\/a><\/td>\n<td>31.21%<\/td>\n<td>23.54%<\/td>\n<td>17.08%<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/univest.in\/mutual-funds\/motilal-oswal-active-momentum-fund-g-direct-plan\">Motilal Oswal Active Momentum Fund Direct Growth Plan<\/a><\/td>\n<td>30.79%<\/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\/kotak-healthcare-fund-g-direct-plan\">Kotak Healthcare Fund Direct Growth Plan<\/a><\/td>\n<td>29.80%<\/td>\n<td>Data not available<\/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>The fund\u2019s 1-year return is well below several peer return figures in this table, even though its own 1-year result is positive. That shows the recent pace has been more restrained than the strongest return numbers among the peer set, especially in more thematic or sector-focused strategies.<\/p>\n<p>On the longer horizon, the fund\u2019s 3-year return remains solid, but it trails the better available 3-year figures from peers such as ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan and Aditya Birla SL Mfg. Equity Fund Direct Growth Plan. The gap suggests that the fund has delivered steadier long-run progress than some peers, but not the same level of upward momentum.<\/p>\n<p>The short-term and longer-term comparisons tell slightly different stories. Short-term returns are positive but not especially aggressive, while the 3-year record remains respectable. For a cyclical strategy, that mix is useful to note because it can mean the portfolio participates without always leading the most energetic peers.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 28 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 href=\"https:\/\/univest.in\/user\/log-in\" style=\"font-weight:700;text-decoration:none\">Log in to Univest<\/a> for more mutual fund insights.<\/p>\n<\/div>\n<h2 style=\"font-weight:700\"><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 49.18% large-cap, 21.45% mid-cap, 24.90% small-cap and 4.46% other. That is not a pure large-cap structure; it keeps nearly half the portfolio in large caps but still leaves a substantial share in mid and small caps, which can increase movement across market cycles.<\/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>BANK<\/td>\n<td>18.55%<\/td>\n<td>ICICI BANK LIMITED (4.72%), KOTAK MAHINDRA BANK LIMITED (3.91%)<\/td>\n<\/tr>\n<tr>\n<td>AUTOMOBILE &amp; ANCILLARIES<\/td>\n<td>11.48%<\/td>\n<td>MAHINDRA &amp; MAHINDRA LIMITED (2.16%), CUMMINS INDIA LIMITED (1.40%)<\/td>\n<\/tr>\n<tr>\n<td>FINANCE<\/td>\n<td>6.97%<\/td>\n<td>BSE LIMITED (1.49%), CREDITACCESS GRAMEEN LIMITED (1.20%)<\/td>\n<\/tr>\n<tr>\n<td>CAPITAL GOODS<\/td>\n<td>6.19%<\/td>\n<td>GE VERNOVA T&amp;D INDIA LIMITED (1.38%), JYOTI CNC AUTOMATION LTD (1.27%)<\/td>\n<\/tr>\n<tr>\n<td>CHEMICALS<\/td>\n<td>5.95%<\/td>\n<td>AETHER INDUSTRIES LIMITED (1.63%), SOLAR INDUSTRIES INDIA LIMITED (1.14%)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The bank sector is clearly the largest active sector at 18.55%, and it is materially above the next sector, automobiles and ancillaries, at 11.48%. That difference means banks are likely to have the greatest influence on how the portfolio behaves when financials move sharply.<\/p>\n<p>The next layer of exposure is more spread out across finance, capital goods and chemicals, so the portfolio is not relying on a single narrow theme outside banking. That is helpful, but the sector mix still points to a cyclical style rather than a defensive one.<\/p>\n<p>Because the portfolio combines a large bank weight with meaningful mid- and small-cap exposure, it may react more strongly than a plain index-oriented portfolio when the market favours cyclical businesses. That also means returns can vary more from one period to the next, which fits the fund\u2019s High Risk profile.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 28 Aug 2026<\/small><\/p>\n<h2 style=\"font-weight:700\"><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 exposure and who can stay invested through uneven phases. The return pattern shows that the fund has had periods of weaker movement, but it has still delivered a stronger 3-year record than the Nifty 50.<\/p>\n<p>A medium- to long-term horizon is more appropriate than a short holding period, because the portfolio\u2019s sector mix and mid\/small-cap allocation can make outcomes less stable from year to year. Investors need to accept that the fund may not always lead in every market phase, especially when peer strategies are moving faster in the short run.<\/p>\n<p>The central trade-off is between cyclical upside and higher variability. If an investor wants a portfolio that can benefit from banking, industrial and other business-cycle exposures, this fund offers that profile, but it does so with a level of risk that demands patience.<\/p>\n<h2 style=\"font-weight:700\"><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>Exit load applies as nil for 10% of the investment and 1% for the remaining investment if units are sold within 12 months. There is no exit load after 12 months.<\/p>\n<p class=\"mf-source-date\"><small>Source data date: as of 28 Aug 2026<\/small><\/p>\n<h2 style=\"font-weight:700\"><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:700\"><span class=\"ez-toc-section\" id=\"What_is_the_current_NAV_of_Axis_Business_Cycles_Fund_Direct_Growth_Plan\"><\/span>What is the current NAV of Axis Business Cycles Fund Direct Growth Plan?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The current NAV is \u20b918.39 as of 28 August 2026.<\/p>\n<h3 style=\"font-weight:700\"><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 return is 9.66%, its 3-year return is 15.50%, and its 5-year return is 0%.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"How_has_the_fund_performed_versus_the_Nifty_50_benchmark\"><\/span>How has the fund performed versus the Nifty 50 benchmark?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>It has outperformed the Nifty 50 across the available periods: 3.26% versus -0.85% in 1 month, 8.75% versus 3.39% in 3 months, 9.66% versus -2.29% in 1 year and 15.50% versus 6.40% in 3 years.<\/p>\n<h3 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"How_does_it_compare_with_the_peer_funds_listed_here\"><\/span>How does it compare with the peer funds listed here?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Its recent 1-year return is lower than several peer return figures shown here, while its 3-year return is still positive and ahead of the benchmark. The peer table shows that some thematic or sector-focused funds have delivered stronger return figures over the same periods.<\/p>\n<h3 style=\"font-weight:700\"><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:700\"><span class=\"ez-toc-section\" id=\"Who_manages_the_fund_and_what_is_the_exit_load\"><\/span>Who manages the fund and what is the exit load?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The fund is managed by Ashish Naik. Exit load is nil for 10% of the investment and 1% for the remaining investment if units are sold within 12 months, and there is no exit load after 12 months.<\/p>\n<h2 style=\"font-weight:700\"><span class=\"ez-toc-section\" id=\"Bottom_line\"><\/span>Bottom line<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Axis Business Cycles Fund Direct Growth Plan has a mixed but constructive profile: the recent return profile is positive yet less forceful than some peer figures, while the 3-year record remains ahead of the Nifty 50. Its High Risk label fits a portfolio that keeps a large-cap base but still carries meaningful mid- and small-cap exposure, with banks as the biggest sector weight. That makes it suitable for investors who want cyclical exposure and can tolerate uneven stretches rather than a smooth, benchmark-like path.<\/p>\n<p class=\"univest-posted-at\" style=\"font-size:14px;color:#666;margin:20px 0 8px\">Published on 31 August 2026 at 5:26 PM 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:700\"><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 href=\"https:\/\/univest.in\/user\/log-in\" style=\"display:inline-block;padding:11px 20px;border-radius:6px;background:#1f4e79;color:#fff !important;text-decoration:none;font-weight:700\">Explore Univest<\/a><\/p>\n<\/section>\n<section class=\"univest-disclaimer\">\n<h2 style=\"font-weight:700\"><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\":\"Axis Business Cycles Fund Direct Growth Plan\",\"identifier\":\"axis-business-cycles-fund-g-direct-plan\",\"category\":\"Equity\",\"dateCreated\":\"22 Feb 2023\",\"isAccessibleForFree\":true,\"additionalProperty\":[{\"@type\":\"PropertyValue\",\"name\":\"NAV\",\"value\":18.39,\"valueReference\":\"as of 28 Aug 2026\"},{\"@type\":\"PropertyValue\",\"name\":\"AUM\",\"value\":\"2106 Cr\"},{\"@type\":\"PropertyValue\",\"name\":\"Expense Ratio\",\"value\":\"0.74\"},{\"@type\":\"PropertyValue\",\"name\":\"Benchmark\",\"value\":\"Nifty 50\"},{\"@type\":\"PropertyValue\",\"name\":\"1Y Return\",\"value\":9.6601},{\"@type\":\"PropertyValue\",\"name\":\"3Y Return\",\"value\":15.5021},{\"@type\":\"PropertyValue\",\"name\":\"5Y Return\",\"value\":0},{\"@type\":\"PropertyValue\",\"name\":\"Fund Managers\",\"value\":\"Ashish Naik\"}]}<\/script><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What is the current NAV of Axis Business Cycles Fund Direct Growth Plan?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The current NAV is \u20b918.39 as of 28 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 return is 9.66%, its 3-year return is 15.50%, and its 5-year return is 0%.\"}},{\"@type\":\"Question\",\"name\":\"How has the fund performed versus the Nifty 50 benchmark?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"It has outperformed the Nifty 50 across the available periods: 3.26% versus -0.85% in 1 month, 8.75% versus 3.39% in 3 months, 9.66% versus -2.29% in 1 year and 15.50% versus 6.40% in 3 years.\"}},{\"@type\":\"Question\",\"name\":\"How does it compare with the peer funds listed here?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Its recent 1-year return is lower than several peer return figures shown here, while its 3-year return is still positive and ahead of the benchmark. The peer table shows that some thematic or sector-focused funds have delivered stronger return figures over the same periods.\"}},{\"@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 and what is the exit load?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The fund is managed by Ashish Naik. Exit load is nil for 10% of the investment and 1% for the remaining investment if units are sold within 12 months, and there is no exit load after 12 months.\"}}]}<\/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>Axis Business Cycles Fund Direct Growth Plan combines a High Risk profile with a business-cycle style portfolio that leans toward banks, autos and selected mid\/small-cap names. Its recent 1-year return is 9.66%, while the 3-year return is 15.50% and the 5-year return is 0% because the fund has not completed a full five-year track record. The fund may suit investors who can accept higher volatility and want a portfolio that can behave differently from the Nifty 50 over time.<\/p>\n","protected":false},"author":29,"featured_media":224845,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3841],"tags":[],"class_list":["post-224846","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mutual-funds"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["224845"],"rank_math_title":["Axis Business Cycles Fund Review 2026: NAV &amp; Returns"],"rank_math_description":["Axis Business Cycles Fund Direct Growth Plan NAV is \u20b918.39 as of 28 Aug 2026; 1Y return is 9.66% and 3Y return is 15.50%."],"rank_math_focus_keyword":["Axis Business Cycles Fund Direct Growth Plan review"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/08\/Axis_Business_Cycles_Fund_Direct_Growth_Review_2026_NAV_Returns_Portfolio_Should_You_Invest_neutral.png","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/224846","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=224846"}],"version-history":[{"count":0,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/224846\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/224845"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=224846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=224846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=224846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}