Baroda BNP Paribas Flexi Cap Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Baroda BNP Paribas Flexi Cap Fund Direct Growth Plan closed at ₹16.4437 as of 16 September 2026, with an AUM of ₹1,271 Cr. Its 1-year, 3-year and 5-year returns are 1.35%, 11.25% and Data not available, and the scheme is classified as High Risk.

Our view is that the fund looks more suited to investors who can tolerate sharp swings and are comfortable with a mixed short- and medium-term track record. The portfolio is fairly spread across sectors, but the recent return trend has been weaker than its longer-running 3-year outcome and also softer than the benchmark over the same longer period.

Quick facts

Particular	Details
NAV	₹16.4437 as of 16 Sep 2026
AUM	₹1,271 Cr
Expense Ratio	0.96%
Launch Date	17 Aug 2022
Min SIP	₹250
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 12M, Nil after 12M
Fund Managers	Jitendra Sriram, Kirtan Mehta

The fund is managed by Jitendra Sriram and Kirtan Mehta.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-4.34%	-4.41%
3M	-0.58%	-3.6%
1Y	1.35%	-7.76%
3Y	11.25%	5.74%
5Y	Data not available	Data not available

The recent pattern has been uneven. Over 1 month, the fund fell almost in line with the benchmark, while the 3-month picture was noticeably better than the index because the fund’s decline was much smaller. That kind of relative resilience matters for investors who care about drawdowns, even when absolute returns remain soft.

The 1-year return is still modest, but it is clearly ahead of the benchmark’s negative 1-year outcome. That tells us the fund has held up better than the index over the last year, even if it has not yet produced a strong absolute gain. The 3-year return is stronger than the benchmark as well, which suggests the longer compounding pattern has been better than the shorter-term tone implies.

What stands out is the gap between the short-term and 3-year behaviour. The recent 1-month and 3-month moves point to volatility, but the 3-year figure suggests the strategy has still created value over a longer holding window. For an equity investor, that combination usually calls for patience rather than a narrow focus on the latest monthly swing.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD Baroda BNP Paribas Flexi 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Baroda BNP Paribas Flexi Cap Fund Direct Growth Plan	1.35%	11.25%	Data not available
Bank of India Flexi Cap Fund Direct Growth Plan	10.1%	18.09%	16.01%
ITI Flexi Cap Fund Direct Growth Plan	9.54%	17.61%	Data not available
Navi Flexi Cap Fund Direct Growth Plan	7.9%	10.18%	10.89%
LIC MF Multi Cap Fund Direct Growth Plan	7.11%	17.04%	Data not available
Aditya Birla SL Flexi Cap Fund Direct Growth Plan	5.94%	13.33%	10.98%

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

The fund’s 1-year return trails every peer listed here, while its 3-year return sits below the stronger peer figures but remains ahead of some longer-term outcomes. That makes the short-term comparison look weak, even though the 3-year number is not the lowest in the group. The 5-year column is only partly usable because the fund itself does not have a 5-year return in this record, so the longer comparison leans on the funds with available figures.

The main takeaway is that the peer picture is split. The fund has not matched the stronger recent returns shown by several peers, but its 3-year result is still relevant for investors who care more about medium-term compounding than the latest year alone. The short-term and longer-term views therefore point in different directions, which is why this fund needs to be judged on holding period rather than one recent calendar year.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
The Federal Bank Limited	Bank	4.04%
One 97 Communications Limited	IT	3.98%
Larsen & Toubro Limited	Infrastructure	3.44%
Reliance Industries Limited	Crude Oil	3.16%
Bharat Heavy Electricals Limited	Capital Goods	2.98%
Indusind Bank Limited	Bank	2.88%
HDFC Bank Limited	Bank	2.76%
Shriram Finance Limited	Finance	2.75%
Radico Khaitan Limited	Alcohol	2.7%
ICICI Bank Limited	Bank	2.57%

The largest holding, The Federal Bank Limited, carries a 4.04% weight, which is meaningful but not dominant on its own. The drop from the first holding to the tenth is gradual rather than steep, moving from 4.04% to 2.57%. That suggests the portfolio’s leading positions are clustered fairly closely together instead of being concentrated in one very large bet.

The top 10 holdings together account for approximately 31.26% of the portfolio, and the disclosed set includes 52 holdings in total. That combination points to a broad spread across names with a moderate layer of influence from the biggest positions. In our view, this structure may reduce reliance on a single stock while still leaving the fund exposed to the performance of its larger banking, infrastructure, finance and consumer-related positions.

Because there are more disclosed holdings beyond the top 10, the tail beyond the largest names may also matter. Even so, the visible weights show a portfolio that is not built around a handful of outsized positions. It looks more like a diversified equity book where the top holdings can contribute meaningfully, but are unlikely to fully dictate outcomes on their own.

To see all holdings, visit the Baroda BNP Paribas Flexi Cap Fund Direct Growth Plan page

Source data date: as of 16 Sep 2026

Who should invest

This fund fits investors who are comfortable with High Risk equity exposure and who can stay invested long enough for a flexible-cap portfolio to work through market cycles. The 1-year return is weak, but the 3-year figure is better than the benchmark’s and suggests the strategy can recover over time. That makes a longer horizon important, because short holding periods may be uncomfortable if the recent volatility continues.

The main trade-off is between broader equity participation and near-term uncertainty. The portfolio’s top holdings are spread across several sectors and no single position is oversized, but the fund can still move sharply over shorter periods. Investors who prefer smoother short-term paths may find that trade-off difficult, while those who can tolerate uneven results for the chance of longer-term compounding may be more at ease.

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 up to 10% of units and 1% for the remaining units if sold within 12 months; no exit load after the holding period.

Source data date: as of 16 Sep 2026

Frequently asked questions

What is the current NAV of Baroda BNP Paribas Flexi Cap Fund Direct Growth Plan?
Its current NAV is ₹16.4437 as of 16 September 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 1.35% and its 3-year return is 11.25%. The 5-year return is Data not available.

How has it performed against the benchmark?
It has done better than the Nifty 50 over 1 year and 3 years. The benchmark return is -7.76% over 1 year and 5.74% over 3 years.

How does it compare with the listed peer funds on 1-year return?
Its 1-year return of 1.35% is below the listed peer funds shown here, while several peers have delivered stronger 1-year numbers. The longer-term comparison is more mixed because the fund’s 3-year return is still meaningful, even if it is below the stronger peer figures.

What is the minimum SIP amount?
The minimum SIP amount is ₹250.

Who manages the fund and what is the exit load?
The fund is managed by Jitendra Sriram and Kirtan Mehta. The exit load is nil up to 10% of units and 1% for the remaining units if sold within 12 months; no exit load applies after the holding period.

Bottom line

Baroda BNP Paribas Flexi Cap Fund Direct Growth Plan has a weaker recent profile than its longer 3-year record, so the story is not just about the latest return. Its 1-year result trails the better peer outcomes shown here, but the 3-year figure is more supportive and is ahead of the benchmark. The risk label is High Risk, and the portfolio is built with a fairly even spread across its leading holdings rather than a single dominant stock. That profile suits investors who can accept short-term unevenness for a longer investing horizon.

Published on 17 September 2026 at 3:43 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.