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

Shriram Flexi Cap Fund Direct Growth Plan has a NAV of ₹21.9365 as of 15 Sep 2026 and an AUM of ₹130 Cr. Its 1-year, 3-year and 5-year returns are -3.1%, 6.62% and 7.2% respectively, and the scheme is tagged as High Risk. Our view is that the fund has handled longer holding periods better than the recent one-year stretch, but the return pattern and the portfolio mix both suggest that investors need patience and comfort with volatility.

The fund can suit investors who are comfortable with swings and want a flexi-cap allocation with meaningful exposure to banks and other large positions. The recent weak 1-year outcome versus the benchmark does not erase the steadier 3-year and 5-year compounding pattern, but it does show that short-term outcomes can be uneven.

Quick facts

Particular	Details
NAV	₹21.9365 as of 15 Sep 2026
AUM	₹130 Cr
Expense Ratio	0.83%
Launch Date	28 Sep 2018
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	NIL for 12% of units and 1% for remaining units on or before 90D, Nil after 90D
Fund Managers	Prateek Nigudkar, Hitesh Savanth

The fund is managed by Prateek Nigudkar and Hitesh Savanth.

Source data date: as of 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-4.76%	-4.81%
3M	-2.05%	-3.63%
1Y	-3.1%	-8.27%
3Y	6.62%	5.59%
5Y	7.2%	5.58%

The recent picture is mixed. Over 1 month and 3 months, the fund was negative, but the declines were milder than the benchmark in both windows. That tells us the fund has not been immune to short-term weakness, yet it has held up a little better than the index during the latest dip.

The 1-year result is more important for the current reading because it is still negative, but it is notably less weak than the benchmark. In practical terms, the fund has been easier to own than the index over the last year, even though the result is still below zero.

Longer term, the pattern improves. The 3-year and 5-year returns are both positive and both ahead of the benchmark, which suggests the fund has compounded better over a fuller market cycle than it has over the recent stretch. That gap between short-term weakness and longer-term resilience matters for investors who can stay invested through uneven periods.

The time pattern also shows that the fund has not moved in a straight line. There were clear periods of pressure and recovery across the 3-year and 5-year windows, so the experience is likely to feel volatile rather than smooth. For us, that is consistent with the High Risk tag and with a fund that may need time to show its fuller return potential.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD Shriram 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
Shriram Flexi Cap Fund Direct Growth Plan	-3.1%	6.62%	7.2%
Bank of India Flexi Cap Fund Direct Growth Plan	13.32%	18.71%	16.79%
ITI Flexi Cap Fund Direct Growth Plan	10.27%	17.58%	Data not available
Navi Flexi Cap Fund Direct Growth Plan	8.57%	10.14%	10.95%
Tata Multicap Fund Direct Growth Plan	7.77%	9.71%	Data not available
Edelweiss Multi Cap Fund Direct Growth Plan	7.14%	Data not available	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. The current fund’s 1-year return trails the stronger peer figures shown here, especially the double-digit outcomes at the top of the list. At the same time, its 3-year and 5-year returns are still positive, but they sit below the more advanced compounding seen in some peers with available longer-term data.

That creates a split message. The short-term backdrop is weaker than several peers, while the longer-term record is more respectable but not as strong as the best available peer figures. For investors, the key question is whether they are willing to accept a slower recent pace in exchange for a fund that has still delivered positive medium- and longer-term outcomes.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
HDFC Bank Ltd.	Bank	6.94%
ICICI Bank Ltd.	Bank	5.65%
Reliance Industries Ltd.	Crude Oil	4.79%
State Bank of India	Bank	4.22%
Axis Bank Ltd.	Bank	3.91%
Bharti Airtel Ltd.	Telecom	3.71%
SBI Life Insurance Company Ltd.	Insurance	2.33%
Samhi Hotels Ltd.	Hospitality	2.27%
Mahindra & Mahindra Ltd.	Automobile & Ancillaries	2.14%
ITC Ltd.	FMCG	2.09%

The top 10 holdings account for approximately 38.05% of the portfolio.

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

The largest holding, HDFC Bank Ltd. at 6.94%, is meaningful but not overpowering on its own. The next few positions also stay within a fairly narrow band, so the portfolio does not rely on one outsized weight to drive results.

The drop from the largest holding to the tenth is moderate rather than steep, which suggests the fund is building exposure across a spread of names instead of concentrating everything in a single position. At the same time, the top 10 still account for 38.05% of the portfolio, so the fund may remain sensitive to the behaviour of its biggest ideas.

With 59 holdings in total and just under two-fifths of the disclosed portfolio in the top 10, the structure looks reasonably diversified, though the leading positions could still matter a lot. In our view, that combination points to a portfolio that is spread beyond a few names but still retains enough concentration for the larger holdings to have greater influence.

Source data date: as of 15 Sep 2026

Who should invest

This fund is better aligned with investors who can handle High Risk exposure and stay invested for at least a medium to long horizon. The negative 1-year return versus the positive 3-year and 5-year record suggests that the journey can be uneven before the longer compounding pattern shows through.

It may suit someone looking for a flexi-cap equity allocation that is not built around a single theme, but who is still comfortable with meaningful bank exposure and normal market swings. The main trade-off is straightforward: the fund has been relatively weak over the last year, but it has produced better multi-year outcomes than the benchmark, so patience becomes important.

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 for 12% of units and 1% for remaining units on or before 90D, Nil after 90D.

Source data date: as of 15 Sep 2026

Frequently asked questions

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

The current NAV is ₹21.9365 as of 15 Sep 2026.

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

The 1-year return is -3.1%, the 3-year return is 6.62%, and the 5-year return is 7.2%.

How does it compare with the benchmark?

It has lagged the benchmark over 1 year, but it has been ahead of the benchmark over 3 years and 5 years. That makes the longer-term picture more constructive than the recent one-year result.

How does it compare with the peer funds listed here?

Its 1-year return is weaker than the peer funds shown here, while its 3-year and 5-year outcomes are also below the stronger longer-term figures among peers with available data. The gap is most visible in the recent period.

What is the minimum SIP amount?

The minimum SIP amount is ₹500.

Who manages the fund and what is the exit load?

The fund is managed by Prateek Nigudkar and Hitesh Savanth. The exit load is NIL for 12% of units and 1% for remaining units on or before 90D, and Nil after 90D.

Bottom line

Shriram Flexi Cap Fund Direct Growth Plan has a weaker recent one-year outcome, but its 3-year and 5-year records are positive and better than the benchmark over those longer windows. Against peers with available figures, the recent return picture is soft, while the medium- and longer-term record remains usable rather than outstanding. The portfolio is led by banks and is not overly dependent on one holding, which supports a balanced but still market-sensitive profile. For investors who can accept High Risk and wait through uneven stretches, the fund may fit as a patient equity allocation.

Published on 16 September 2026 at 8:32 AM 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.