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

Bank of India Business Cycle Fund Direct Growth Plan currently has an NAV of ₹9.95 as of 10 Sep 2026 and an AUM of ₹463 Cr. Its 1-year, 3-year and 5-year returns are 6.76%, 0% and 0%, and the scheme sits in the High Risk category. Our view is that the fund has shown some short-term progress, but the limited track record and uneven return pattern mean it is better suited to investors who can tolerate sharp swings and want an equity fund with a business-cycle style, rather than those looking for steady compounding.

The benchmark is Nifty 50, and the fund’s recent behaviour has been more resilient than the index over the latest year. Even so, the return history is still short, so we would treat the current numbers as early evidence rather than a full cycle test. The portfolio also shows meaningful stock-specific exposure, which can support upside when the calls work, but can also make the ride uneven.

Quick facts

Particular	Details
NAV	₹9.95 as of 10 Sep 2026
AUM	₹463 Cr
Expense Ratio	1.01%
Launch Date	30 Aug 2024
Min SIP	₹1,000
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	Nil upto 10% of units and 1% for remaining units on or before 3M, Nil after 3M
Fund Managers	Alok Singh

The fund is managed by Alok Singh.

Source data date: as of 10 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-0.1%	-4.06%
3M	9.46%	1.37%
1Y	6.76%	-7.31%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

Recent performance has been stronger than the benchmark, especially over 3 months and 1 year. The fund gained 9.46% over 3 months while the benchmark rose 1.37%, and over 1 year the fund was positive at 6.76% while the benchmark declined 7.31%. That tells us the strategy has handled the recent market backdrop better than the index.

The 1-month figure was slightly negative at -0.1%, but that is still much less weak than the benchmark’s -4.06% over the same stretch. In practical terms, the fund has shown a better downside profile in the near term, even if the latest month was not positive.

We would be careful about reading too much into the longer horizon because the scheme launched in August 2024, so the 3-year and 5-year numbers are not yet available. The time pattern that does exist shows a recovery phase after weaker stretches, followed by firmer recent gains, which suggests a strategy that can move meaningfully with the cycle rather than track the benchmark closely.

Source data date: as of 10 Sep 2026

Should you BUY or HOLD Bank of India 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
Bank of India Business Cycle Fund Direct Growth Plan	6.76%	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

The current fund’s 1-year return is well below the stronger peer figures shown here, even though it has stayed ahead of the benchmark over the same period. That means the recent improvement is real, but it has not matched the faster growth seen in the peer set.

On the longer horizon, the comparison is less direct because most peers here do not show 3-year or 5-year figures. The one available 3-year peer result is much stronger than the current fund’s available history, which underlines that this fund’s record is still developing rather than established.

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

Source data date: as of 10 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
ICICI Bank Limited	Bank	5.62%
State Bank of India	Bank	5.29%
NTPC Limited	Power	3.99%
Bharti Airtel Limited	Telecom	3.68%
TREPS	Cash & Cash Equivalents and Net Assets	3.49%
Apollo Hospitals Enterprise Limited	Healthcare	3.46%
Quality Power Electrical Eqp Ltd	Domestic Equities	3.29%
Glenmark Pharmaceuticals Limited	Healthcare	3.21%
SKY Gold and Diamonds Limited	Diamond & Jewellery	2.86%
LG Electronics India Ltd	Domestic Equities	2.82%

The top 10 holdings account for approximately 37.71% of the portfolio.

To see all holdings, visit the Bank of India Business Cycle Fund Direct Growth Plan page

The largest holding, ICICI Bank Limited, stands at 5.62%, and the next holding, State Bank of India, is only slightly lower at 5.29%. That shows the portfolio begins with a fairly tight cluster at the top, rather than a single outsized position dominating the list.

The drop from the top two positions into the rest of the table is gradual rather than abrupt. By the tenth holding, the weight is still 2.82%, so the displayed book is spread across several mid-sized positions instead of being concentrated in just one or two names.

Because the top 10 holdings together make up 37.71% of the portfolio and the scheme has 51 disclosed holdings, the fund may have a meaningful tail beyond the largest positions. That structure can reduce dependence on any one stock, while still leaving enough room for individual bets to matter.

Source data date: as of 10 Sep 2026

Who should invest

This fund may suit investors with a high risk tolerance and a longer holding horizon who are comfortable with a strategy that can behave differently from the benchmark. The 1-year result is positive while the benchmark is negative, but the shorter track record means the record is still being built.

For investors who want an equity allocation with some stock-specific conviction, the portfolio and return pattern may be appealing. The main trade-off is that the same approach can also lead to uneven periods, so it is less suitable for anyone seeking steady, low-volatility outcomes.

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

The exit load is nil up to 10% of units if sold on or before 3 months, and 1% for the remaining units if sold on or before 3 months. There is no exit load after 3 months.

Source data date: as of 10 Sep 2026

Frequently asked questions

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

The current NAV is ₹9.95 as of 10 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?

The 1-year return is 6.76%, while the 3-year and 5-year returns are not available because the scheme is still too new for those horizons.

How has the fund performed against Nifty 50?

The fund has outpaced Nifty 50 over the latest 1-month, 3-month and 1-year periods. It gained 9.46% over 3 months and 6.76% over 1 year, while the benchmark was weaker over those same periods.

How does it compare with the peer funds shown here?

The fund’s 1-year return is lower than the peer figures shown here, although it has still done better than the benchmark over the same period. The longer-term peer comparison is limited because most peer entries do not have 3-year or 5-year figures available.

What is the minimum SIP amount?

The minimum SIP amount is ₹1,000.

What risk category and exit load apply to this fund?

The fund is in the High Risk category. The exit load is nil up to 10% of units if sold on or before 3 months, and 1% for the remaining units if sold on or before 3 months; there is no exit load after 3 months.

Bottom line

Bank of India Business Cycle Fund Direct Growth Plan has started to show better recent behaviour than its benchmark, but the record is still short and the longer-horizon return history is not yet available. Against the peer set shown here, its latest 1-year return is modest, which keeps expectations in check. The portfolio is built around a cluster of mid-sized holdings rather than a single dominant position, so returns may depend on how several individual ideas play out. That makes the fund more suitable for investors who accept High Risk and want a cyclical equity approach.

Published on 11 September 2026 at 4:31 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.