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

Bank of India Multi Cap Fund Direct Growth Plan is priced at ₹20.38 as of 17 September 2026, with scheme AUM of ₹1,335 Cr. Its 1-year, 3-year and 5-year returns are 10.47%, 16.74% and Data not available, and the scheme sits in the High Risk bucket. Our view is that the fund has shown a stronger medium-term trend than its benchmark, but the short-term profile is less consistent, so it may suit investors who can handle equity volatility and want multi-cap exposure rather than a steadier core fund.

The portfolio is active rather than sleepy, with a meaningful cash-like position and a spread across banks, healthcare, consumer durables, retailing and media. That mix can help diversification, but the high-risk tag and uneven recent movement mean it is better viewed as a higher-volatility equity allocation than a low-drama option.

Quick facts

Particular	Details
NAV	₹20.38 as of 17 Sep 2026
AUM	₹1,335 Cr
Expense Ratio	0.9%
Launch Date	03 Mar 2023
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 1Y, Nil after 1Y
Fund Managers	Nitin Gosar

The fund is managed by Nitin Gosar.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.11%	-3.66%
3M	1.19%	-3.71%
1Y	10.47%	-7.13%
3Y	16.74%	5.82%
5Y	Data not available	Data not available

The recent pattern is mixed, but not weak. The fund slipped over one month, yet it still held up better than the benchmark in the same window, and the 3-month return turned positive while the benchmark remained negative. That tells us the scheme has been able to recover faster than the index in the short term, even if the path has not been smooth.

The 1-year figure is much more useful for context. The fund delivered a positive 10.47% while the benchmark was down 7.13%, which points to clear outperformance over the last year. That does not make the ride gentle; the trajectory still includes drawdowns and rebounds, which fits a High Risk equity strategy.

Over 3 years, the return profile stays constructive. The fund’s 16.74% compares well with the benchmark’s 5.82%, suggesting that longer holding periods have so far rewarded patience more than short bursts of exposure. The 5-year field is not available because the scheme has not been running long enough to show a full five-year history, so the better lens here is the contrast between the 1-year and 3-year pattern. On that basis, the fund appears to have delivered better compounding than the benchmark, with more volatility along the way.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD Bank of India Multi 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 Bank of India Multi Cap? Thinking of investing now?

Get your portfolio analysed for FREE by SEBI-registered Investment Adviser (RIA) through Univest MF Premium

Peer comparison

Fund	1Y return	3Y return	5Y return
Bank of India Multi Cap Fund Direct Growth Plan	10.47%	16.74%	Data not available
Groww Multicap Fund Direct Growth Plan	14.94%	Data not available	Data not available
TRUSTMF Multi Cap Fund Direct Growth Plan	14.56%	Data not available	Data not available
Mahindra Manulife Multi Cap Fund Direct Growth Plan	11.14%	16.6%	15.58%
ITI Multi Cap Fund Direct Growth Plan	9.07%	15.96%	13.64%

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

The one-year comparison is somewhat mixed: the fund trails the strongest recent peer figures, but it stays ahead of one of the listed comparators and remains close to another. What matters more is that the fund’s 3-year return of 16.74% is stronger than the available 3-year figures for the listed peers with that data, which supports the idea that its medium-term compounding has been respectable.

The longer lens is where the current fund looks more balanced. One peer has a 5-year figure of 15.58%, while another shows 13.64%; the current fund does not yet have a usable 5-year record, so we cannot compare it on that horizon. In practice, the available peer set suggests a split story: recent 1-year numbers are tighter and more varied, while the 3-year record points to better endurance. That is consistent with a fund that has been uneven in the short run but has still compounded well over a multi-year period.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
TREPS	Cash & Cash Equivalents and Net Assets	5.6%
HDFC Bank Limited	Bank	5.22%
Reliance Industries Limited	Crude Oil	4.33%
Entero Healthcare Solutions Ltd	Trading	3.6%
Dixon Technologies (India) Limited	Consumer Durables	3.51%
Aurobindo Pharma Limited	Healthcare	3.18%
FSN E-Commerce Ventures Limited	Retailing	2.93%
Kotak Mahindra Bank Limited	Bank	2.75%
Bank of Maharashtra	Bank	2.5%
Tips Music Limited	Media & Entertainment	2.5%

The largest holding is TREPS at 5.6%, which is a modest single-position weight for an equity fund. That suggests no single stock dominates the visible top slice, even though the fund still carries meaningful active positions across several businesses.

The decline from the first holding to the tenth is gradual rather than abrupt. HDFC Bank, Reliance Industries, Entero Healthcare Solutions, Dixon Technologies and Aurobindo Pharma all sit in a fairly tight band, which tells us the top of the portfolio is spread across multiple names instead of being concentrated in one or two outsized bets. That can reduce dependence on any single company outcome, although it does not remove equity risk.

The top 10 holdings account for approximately 36.12% of the portfolio, and the scheme discloses 60 holdings in total. Our view is that this points to a reasonably broad tail beyond the visible leaders, with the largest positions likely to matter most for short-term movement but not enough to define the whole fund on their own. To see all holdings, visit the Bank of India Multi Cap Fund Direct Growth Plan page

Source data date: as of 17 Sep 2026

Who should invest

This fund fits investors who can tolerate High Risk equity swings and are comfortable with a multi-cap approach that may move unevenly over shorter periods. The 1-year record is positive, the 3-year record is stronger, and the benchmark comparison is clearly better over both horizons, so the fund has already shown it can recover and compound through a volatile path.

The trade-off is straightforward: you may get better medium-term growth than a plain benchmark-like allocation, but you need to accept drawdowns and the possibility that the ride will not be smooth month to month. The visible portfolio is not overly concentrated at the very top, which may help balance single-stock risk, but it remains an equity scheme and is best thought of with a longer holding horizon.

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: Nil upto 10% of units and 1% for remaining units on or before 1Y, Nil after 1Y.

Source data date: as of 17 Sep 2026

Frequently asked questions

What is the current NAV of Bank of India Multi Cap Fund Direct Growth Plan?
The current NAV is ₹20.38 as of 17 September 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is 10.47% and its 3-year return is 16.74%. The 5-year figure is Data not available.

How has it performed against the benchmark?
It has outperformed Nifty 50 over 1 year and 3 years. The benchmark return is -7.13% over 1 year and 5.82% over 3 years.

How does it compare with the listed peer funds on 1-year performance?
Its 1-year return of 10.47% is below Groww Multicap Fund Direct Growth Plan at 14.94% and TRUSTMF Multi Cap Fund Direct Growth Plan at 14.56%, but above ITI Multi Cap Fund Direct Growth Plan at 9.07%.

Does the fund have a minimum SIP amount?
Yes. The minimum SIP amount is ₹1,000.

Who manages the fund, and what is the exit load?
The fund is managed by Nitin Gosar. The exit load is nil up to 10% of units and 1% for remaining units on or before 1 year, and nil after 1 year.

Bottom line

Bank of India Multi Cap Fund Direct Growth Plan has shown a better medium-term shape than its short-term numbers alone might suggest. The 1-year record is positive, the 3-year record is stronger, and the benchmark comparison supports that pattern, while the 5-year view is not yet available. The risk profile is High Risk, and the portfolio’s top holdings are spread across several sectors rather than dominated by a single name. That makes it more suitable for investors who want equity growth with multi-cap flexibility and can stay invested through volatility.

Published on 18 September 2026 at 11:54 AM IST

Explore mutual funds with Univest

Review mutual fund data, compare performance and explore fund insights on Univest.

Explore Univest

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.