Bandhan Business Cycle Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Bandhan Business Cycle Fund Direct Growth Plan has a NAV of ₹10.021 as of 10 Sep 2026 and an AUM of ₹1,099 Cr. Its 1-year, 3-year and 5-year returns are -1.11%, 0% and 0%, and it sits in the High Risk category.

Our view is that the fund suits investors who can tolerate sharp swings and are comfortable with a business-cycle style equity approach. The recent return profile is uneven, but the 3M figure is ahead of the benchmark and the portfolio carries meaningful exposure to banks, financials, telecom, power and infrastructure.

Quick facts

Particular	Details
NAV	₹10.021 as of 10 Sep 2026
AUM	₹1,099 Cr
Expense Ratio	0.55%
Launch Date	30 Sep 2024
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	0.50% on or before 30D, Nil after 30D
Fund Managers	Vishal Biraia, Ritika Behera, Harshal Joshi, Gaurav Satra

The fund is managed by Vishal Biraia, Ritika Behera, Harshal Joshi, and Gaurav Satra.

Source data date: as of 10 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.05%	-4.06%
3M	5.43%	1.37%
1Y	-1.11%	-7.31%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The short-term pattern is mixed but not weak across every window. The fund has been softer over 1 month, yet the 3-month return turned positive and stayed comfortably ahead of the benchmark over the same period. That suggests the strategy can recover faster than the index when the cycle turns in its favour.

Over 1 year, the fund is still negative, but it has fallen much less than the benchmark. That matters because the comparison is not simply about whether returns are positive or negative; it is about how much downside the fund absorbed in a difficult period. Relative resilience is visible here even though the absolute 1-year number is still below zero.

Longer-term readings are limited because the fund launched only in September 2024, so there is no real 3-year or 5-year history to assess. We would therefore treat the current profile as an early-cycle record rather than a full market-cycle proof point. For now, the evidence points to a fund that can move differently from Nifty 50, but with the volatility that comes with an equity scheme in this risk bucket.

Source data date: as of 10 Sep 2026

Should you BUY or HOLD Bandhan Business Cycle?

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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Bandhan Business Cycle Fund Direct Growth Plan	-1.11%	Data not available	Data not available
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan	73.94%	37.12%	Data not available
Motilal Oswal Active Momentum Fund Direct Growth Plan	29.94%	Data not available	Data not available
Kotak Healthcare Fund Direct Growth Plan	29.26%	Data not available	Data not available
HDFC Pharma and Healthcare Fund Direct Growth Plan	28.3%	Data not available	Data not available
SBI Automotive Opportunities Fund Direct Growth Plan	27.13%	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 latest 1-year figures, the fund trails several peers that have posted strong gains, while its own number remains slightly negative. The gap is wider than a normal margin of noise, so recent momentum is clearly stronger in the listed peer funds than in this scheme.

The longer view is harder to judge because the fund has no 3-year or 5-year track record in this comparison set, while one peer does show a strong 3-year result. That means short-term and longer-term comparisons tell different stories: the fund has shown a workable 3-month recovery versus Nifty 50, but the peer group has delivered much more forceful 1-year outcomes overall.

Source data date: as of 10 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Axis Bank Limited	Bank	4.78%
HDFC Bank Limited	Bank	4.69%
ICICI Bank Limited	Bank	4.47%
Reliance Industries Limited	Crude Oil	4.37%
Bajaj Finance Limited	Finance	3.77%
Bharti Airtel Limited	Telecom	3.68%
One 97 Communications Limited	IT	3.21%
NTPC Limited	Power	3.08%
Larsen & Toubro Limited	Infrastructure	2.99%
Infosys Limited	IT	2.72%

The top 10 holdings account for approximately 37.76% of the portfolio.

To see all holdings, visit the Bandhan Business Cycle Fund Direct Growth Plan page

The largest holding is Axis Bank Limited at 4.78%, and the next three positions remain close enough that the portfolio does not appear dominated by a single stock. That spread may help reduce single-name dependence, although banks still take the first three slots and therefore likely influence short-term moves more than smaller positions.

The drop from the first holding to the tenth is modest rather than steep, moving from 4.78% to 2.72%. That pattern suggests a relatively even top layer, where the individual positions are important but not overwhelmingly large compared with one another.

At 37.76% across the top 10 and 61 disclosed holdings in total, the portfolio looks moderately concentrated at the top but still broad enough to keep a long tail of smaller positions in play. In our view, that mix can make the fund sensitive to a handful of large holdings while still giving the strategy room to express broader cycle-based ideas.

Source data date: as of 10 Sep 2026

Who should invest

This fund fits investors who are comfortable with High Risk equity exposure and can hold through uneven stretches. The 1-year figure is negative, but the 3-month result is better than the benchmark, which points to a strategy that may behave differently from the index when conditions improve.

The better fit is likely a medium- to long-term horizon rather than a short holding period. The main trade-off is that the fund may offer recovery potential when the cycle turns, but it can also lag for extended periods and still lacks a full multi-year track record.

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% if units are sold within 30 days; nil after 30 days.

Source data date: as of 10 Sep 2026

Frequently asked questions

What is the current NAV of Bandhan Business Cycle Fund Direct Growth Plan?

The current NAV is ₹10.021 as of 10 Sep 2026.

What are the 1-year, 3-year and 5-year returns of this fund?

Its 1-year return is -1.11%, while the 3-year and 5-year returns are 0% each.

How does the fund compare with the benchmark?

The fund has done better than Nifty 50 over 1 year, where it is at -1.11% versus -7.31% for the benchmark. Over 3 months, the fund’s 5.43% return is also ahead of the benchmark’s 1.37%.

How does it compare with peer funds on recent returns?

Its 1-year return of -1.11% trails the stronger recent returns shown by peers such as ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan at 73.94% and Motilal Oswal Active Momentum Fund Direct Growth Plan at 29.94%. The peer set also shows several other double-digit 1-year gains.

What is the minimum SIP for this fund?

The minimum SIP is ₹100.

What is the fund’s risk category and exit load?

It is in the High Risk category. The exit-load rule is 0.50% if units are sold within 30 days, and nil after 30 days.

Bottom line

Bandhan Business Cycle Fund Direct Growth Plan has shown a mixed early record: the 3-month return is encouraging and better than Nifty 50, but the 1-year number is still negative. Against peers, the recent return profile is weaker than several schemes with strong gains, while the portfolio’s top holdings are led by banks and remain fairly balanced across the first ten positions. It is a High Risk equity fund best suited to investors who can tolerate volatility and want a cycle-driven approach rather than a smoother, benchmark-like path.

Published on 11 September 2026 at 5:42 PM 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.