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

Samco Flexi Cap Fund Direct Growth Plan currently has a NAV of ₹9.94 as of 16 Sep 2026 and an AUM of ₹261 Cr. Its 1-year, 3-year and 5-year returns are -9.72%, -4.18% and 0%, respectively, and the fund sits in the High Risk category.

Our view is that this is a fund for investors who can tolerate uneven outcomes and a weak recent track record. The portfolio is spread across consumer, banking, industrial and financial names, but the return pattern remains softer than the benchmark over shorter periods, so patience and a long horizon matter more than near-term expectations.

Quick facts

Particular	Details
NAV	₹9.94 as of 16 Sep 2026
AUM	₹261 Cr
Expense Ratio	0.91%
Launch Date	04 Feb 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	Nirali Bhansali, Umeshkumar Mehta, Dhawal Ghanshyam Dhanani, Vishal Shinde

The fund is managed by Nirali Bhansali, Umeshkumar Mehta, Dhawal Ghanshyam Dhanani and Vishal Shinde.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-7.1%	-4.41%
3M	-6.05%	-3.6%
1Y	-9.72%	-7.76%
3Y	-4.18%	5.74%
5Y	Data not available	Data not available

The recent picture has been weak. The fund has stayed below the benchmark in the 1-month, 3-month and 1-year windows, which tells us the last year has not been a clean recovery phase. The 1-year decline is also deeper than the index decline, so the benchmark has been less damaging over the same period.

The 3-year record is still negative, and that matters because it suggests the fund has not yet translated its broader portfolio flexibility into durable compounding. The 3-year benchmark return is positive, which makes the gap more meaningful than a simple short-term dip. In our view, that is the key challenge here: the fund has not only been volatile, it has also lagged a benchmark that has managed to stay ahead over a longer window.

The 1-month and 3-month trends do show some short-lived stabilisation and recovery attempts, but they are not strong enough to change the broader picture. For investors, the important point is that the recent pattern does not yet look materially better than the 3-year trend, so the fund still needs a longer stretch of sustained improvement before the performance story turns convincing.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD Samco 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
Samco Flexi Cap Fund Direct Growth Plan	-9.72%	-4.18%	0%
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 the available 1-year numbers, the fund trails all five peer funds listed here, and the gap is wide because those peers are positive while this fund is negative. That makes the short-term story relatively clear: the fund has not matched the stronger recent momentum seen elsewhere in the flexi-cap space.

Over 3 years, the fund is again behind every peer with an available figure, and the shortfall versus the stronger names is substantial. The 5-year field is less helpful because some peers do not have a usable figure, but among those that do, the fund’s 0% result is still weaker than the positive compounding shown by the peers with longer records. Short-term and longer-term comparisons therefore point in the same direction: the fund has lagged on both recent and medium-term return measures.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Net Receivables / (Payables)	Cash & Cash Equivalents and Net Assets	10.92%
Nestle India Limited	FMCG	7.04%
Marico Limited	FMCG	6.51%
Bank of Maharashtra	Bank	6.38%
Karur Vysya Bank Limited	Bank	4.88%
Kei Industries Limited	Electricals	4.88%
Aia Engineering Limited	Automobile & Ancillaries	4.75%
Anand Rathi Wealth Limited	Finance	4.6%
JSW Dulux Limited	Chemicals	3.96%
Hitachi Energy India Limited	Capital Goods	3.78%

The largest disclosed position is Net Receivables / (Payables) at 10.92%, so a meaningful part of the portfolio may currently be sitting in cash-like net assets rather than in listed operating businesses. The next three holdings, Nestle India, Marico and Bank of Maharashtra, are all above 6%, which gives the top end of the book some visible weight.

There is still a noticeable drop from the largest holding to the tenth holding, which is only 3.78%. That gap suggests the portfolio is not evenly weighted across the top names, even though the decline in weights is gradual rather than abrupt after the first few positions. The top 10 holdings account for approximately 57.7% of the portfolio.

Because these 10 holdings are only part of the disclosed book, the remaining positions matter for the full picture. Still, with 23 holdings disclosed and the top 10 already accounting for more than half of the portfolio, the fund is likely to have greater influence from a relatively small set of positions than from a fully broad, highly diluted spread. That can help returns when the larger positions do well, but it may also increase the impact of individual stock swings.

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

Source data date: as of 16 Sep 2026

Who should invest

This fund suits investors who can handle High Risk products and are willing to stay invested through uneven phases. The return pattern shows short-term weakness and a still-negative 3-year record, so the better fit is someone with a longer horizon rather than a need for steady near-term results.

The main trade-off is that the portfolio has enough flexibility to move across sectors, but that flexibility has not yet produced consistent compounding against the benchmark. Investors who want a smoother path or a stronger recent record may prefer to look elsewhere, while those who can accept volatility in exchange for a turnaround possibility may find the structure understandable.

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 sold on or before 12 months, and 1% for remaining units sold on or before 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 Samco Flexi Cap Fund Direct Growth Plan?
The current NAV is ₹9.94 as of 16 Sep 2026.

What are the 1-year, 3-year and 5-year returns?
The 1-year return is -9.72%, the 3-year return is -4.18%, and the 5-year return is 0%.

How does the fund compare with its benchmark?
It has lagged the Nifty 50 over the 1-month, 3-month, 1-year and 3-year periods shown here. The benchmark is less negative than the fund in the shorter windows and positive over 3 years.

How does it compare with peer funds on available return data?
It trails the listed peer funds on the available 1-year and 3-year figures. The 5-year comparison is incomplete because some peer figures are not available.

Is there a minimum SIP amount?
The minimum SIP amount is ₹250.

Who manages the fund and what is the exit load?
The fund is managed by Nirali Bhansali, Umeshkumar Mehta, Dhawal Ghanshyam Dhanani and Vishal Shinde. The exit load is nil up to 10% of units sold on or before 12 months, and 1% for the remaining units sold on or before 12 months; no exit load applies after the holding period.

Bottom line

The fund’s recent return pattern is weaker than its longer-term story, but the longer-term story is still not positive enough to offset the short-term drag. Against peers with available figures, it is behind on both the 1-year and 3-year windows, while the portfolio also shows a meaningful cash-and-net-assets component among the largest disclosed positions. In our view, that makes it a fit only for investors who can accept High Risk exposure and a long wait for performance to improve.

Published on 17 September 2026 at 1:06 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.