Invesco India Flexi Cap Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Invesco India Flexi Cap Fund Direct Growth Plan has a NAV of ₹20.37 as of 16 September 2026 and a scheme AUM of ₹5,708 Cr. Its 1-year, 3-year and 5-year returns are -1.02%, 16.66% and Data not available, and it is tagged High Risk. Our view is that this is a fund for investors who can accept sharper swings in pursuit of diversified equity exposure, with the recent year looking weaker even though the 3-year picture remains constructive.

The fund’s benchmark is Nifty 50, so we read it as a flexi-cap portfolio that has aimed to add value through stock selection rather than mirror the index. The portfolio is led by financials, infrastructure, healthcare, telecom and retail names, which gives it a broad growth orientation but also keeps it exposed to equity market volatility.

Quick facts

Particular	Details
NAV	₹20.37 as of 16 Sep 2026
AUM	₹5,708 Cr
Expense Ratio	0.56%
Launch Date	14 Feb 2022
Min SIP	₹100
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	Taher Badshah, Fatema Pacha

The fund is managed by Taher Badshah and Fatema Pacha.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.64%	-4.41%
3M	1.9%	-3.6%
1Y	-1.02%	-7.76%
3Y	16.66%	5.74%
5Y	Data not available	Data not available

The recent pattern is mixed rather than smooth. Over 1 month, the fund stayed under pressure, though it fell less than the benchmark. Over 3 months, it moved back into positive territory while the benchmark remained negative, which suggests the fund recovered faster than the index during that stretch.

The 1-year figure is still negative, but it is materially better than the benchmark’s decline. That tells us the fund handled a weak period better than Nifty 50, even if it did not yet deliver positive trailing one-year gains. For an investor, that is a sign of relative resilience rather than outright strength.

The 3-year return is where the longer-run picture improves sharply. At 16.66%, the fund is well ahead of the benchmark’s 5.74%, which points to stronger compounding over a fuller market cycle. We would not read the shorter-term softness as a full reversal of that trend, but it does show that the path has been uneven. The 5-year line is not available in the current record, so we would avoid stretching the evidence beyond the 3-year horizon.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD Invesco India 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
Invesco India Flexi Cap Fund Direct Growth Plan	-1.02%	16.66%	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. On 1-year performance, this fund trails the listed peers that have positive recent numbers, while still doing better than the benchmark. That makes the short-term picture weaker than the peer set. Over 3 years, however, it is ahead of several peers with available data and only slightly behind the strongest names in this list, so the longer-term comparison is more balanced. The 5-year comparison cannot be drawn for the current fund, which leaves the 3-year track record as the more useful lens.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
ICICI Bank Limited	Bank	5.95%
Bajaj Finance Ltd	Finance	3.34%
Larsen & Toubro Limited	Infrastructure	3.31%
Sai Life Sciences Limited	Domestic Equities	2.54%
Titan Company Limited	Diamond & Jewellery	2.49%
Bharti Airtel Limited	Telecom	2.47%
Multi Commodity Exchange of India Limited	Finance	2.3%
Max Healthcare Institute Limited	Healthcare	2.22%
Trent Limited	Retailing	2.17%
Tata Motors Ltd	Domestic Equities	2.07%

The top holding, ICICI Bank Limited, carries a 5.95% weight, so it is meaningful but not dominant. The gap from the largest position to the tenth holding is fairly controlled, with weights stepping down to 2.07%, which suggests the fund is not relying on one or two oversized bets inside the top slice.

The top 10 holdings account for approximately 28.86% of the portfolio, and the fund has 65 disclosed holdings in total. That combination points to a portfolio that may still be diversified across many positions even though the visible leaders carry most of the weight. In our view, the structure looks moderately concentrated at the top, but not excessively so, which may help individual stock moves matter without allowing a single name to dominate outcomes.

Because the list extends well beyond the first 10 holdings, the tail of the portfolio could still influence results in a meaningful way. At the same time, the top names are large enough that the fund is likely to have greater sensitivity to financials, infrastructure and other growth-linked sectors represented in the leading positions.

To see all holdings, visit the Invesco India Flexi Cap Fund Direct Growth Plan page

Source data date: as of 16 Sep 2026

Who should invest

This fund suits investors who are comfortable with High Risk equity exposure and can stay invested through uneven stretches. The 3-year return is much stronger than the 1-year figure, so the longer the horizon, the better this fund’s track record has looked relative to the benchmark.

The trade-off is clear: you are taking on higher volatility in exchange for the chance of stronger long-term compounding than the index. The peer set shows that the fund’s recent year has lagged several comparable funds, but its 3-year record remains solid enough to keep it relevant for investors who can accept short-term drawdowns and are focused on a multi-year 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 applies if units are sold on or before 1 year: nil on up to 10% of units and 1% on the remaining units. There is no exit load after the holding period.

Source data date: as of 16 Sep 2026

Frequently asked questions

What is the current NAV of Invesco India Flexi Cap Fund Direct Growth Plan?

The current NAV is ₹20.37 as of 16 September 2026.

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

The 1-year return is -1.02%, the 3-year return is 16.66%, and the 5-year return is Data not available.

How has the fund performed against Nifty 50?

It has done better than Nifty 50 over 1 month, 3 months, 1 year and 3 years. The strongest gap is at 3 years, where the fund’s return is well ahead of the benchmark.

How does it compare with other flexi-cap funds on recent returns?

Its 1-year return is weaker than the listed peer funds with positive recent numbers, while the 3-year return is still competitive within that peer set. The shorter-term picture is softer than the longer-term one.

What is the minimum SIP amount?

There is no minimum SIP figure listed here.

Who manages the fund and what is the exit load?

The fund is managed by Taher Badshah and Fatema Pacha. Exit load is nil on up to 10% of units if sold on or before 1 year, and 1% applies to the remaining units; there is no exit load after 1 year.

Bottom line

Invesco India Flexi Cap Fund Direct Growth Plan looks more convincing over 3 years than over the latest 1-year stretch, which means the performance story is not one of steady outperformance. It has still held up better than the benchmark in recent periods, and its 3-year return remains ahead of the index. The portfolio’s top holdings are led by ICICI Bank and spread across several sectors, so the fund is not built around a single large position. It may suit investors who want an active flexi-cap fund and can tolerate a high-risk profile over a multi-year horizon.

Published on 17 September 2026 at 1:37 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.