Sundaram Business Cycle Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Sundaram Business Cycle Fund Direct Growth Plan has a NAV of ₹11.8838 as of 10 Sep 2026 and a scheme AUM of ₹1,747 Cr. Its 1-year, 3-year and 5-year returns are 5.21%, 0% and 0% respectively, and the fund is tagged as High Risk.

Our view is that the fund has shown some short-term recovery, but the longer record is still very limited because it launched on 25 Jun 2024. The portfolio includes a meaningful cash buffer and a fairly concentrated set of equity bets, so the scheme may suit investors who are comfortable with sharp swings and want a business-cycle style approach rather than a steady benchmark-tracker.

Quick facts

Particular	Details
NAV	₹11.8838 as of 10 Sep 2026
AUM	₹1,747 Cr
Expense Ratio	0.43%
Launch Date	25 Jun 2024
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	1% on or before 365D, Nil after 365D
Fund Managers	Madanagopal Ramu, Sandeep Agarwal, Shalav Saket

The fund is managed by Madanagopal Ramu, Sandeep Agarwal and Shalav Saket.

Source data date: as of 10 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.34%	-4.06%
3M	14.98%	1.37%
1Y	5.21%	-7.31%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The recent pattern is better than the benchmark in each available window, especially over 3 months and 1 year. That matters because the benchmark has been weak in the 1-month and 1-year periods, while the fund still kept positive returns in the same windows.

The short run has been stronger than the benchmark, but we should be careful about reading too much into it. The scheme has been live for only a little over two years, so there is no true 3-year or 5-year track record yet, and the present numbers say more about early-cycle resilience than about a full market cycle.

The 1-month path also looks steadier than the benchmark, which slipped during the same period. Over 3 months, the fund’s gains built in a more decisive way than the index, and that suggests the portfolio has recently benefited from its selected sector and stock mix.

For now, the main takeaway is that the fund has outpaced the benchmark across the periods that are available, but its history is still too short to treat recent outperformance as settled behaviour.

Source data date: as of 10 Sep 2026

Should you BUY or HOLD Sundaram Business Cycle?

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
Sundaram Business Cycle Fund Direct Growth Plan	5.21%	Data not available	Data not available
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan	73.94%	37.12%	Data not available
Motilal Oswal Active Momentum Fund Direct Growth Plan	29.94%	Data not available	Data not available
Kotak Healthcare Fund Direct Growth Plan	29.26%	Data not available	Data not available
HDFC Pharma and Healthcare Fund Direct Growth Plan	28.3%	Data not available	Data not available
SBI Automotive Opportunities Fund Direct Growth Plan	27.13%	Data not available	Data not available

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

The fund’s 1-year return is well below the strongest peer figures shown here, even though it has stayed ahead of the benchmark. That makes the current short-term picture more modest than the more cyclical or sector-focused peers in this set.

Because the fund has no usable 3-year or 5-year history yet, the longer-horizon comparison is mostly one-sided. The peers with longer records show materially higher 3-year numbers where available, so the current fund’s newer track record does not yet match that level of demonstrated compounding.

That leaves two different stories: the fund has held up better than the benchmark, but the peer set shows that some rivals have produced much stronger one-year and multi-year returns. The comparison therefore looks like a short-history, early-stage fund rather than a proven long-cycle winner.

Source data date: as of 10 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Radico Khaitan Ltd	Alcohol	5.32%
Eternal Ltd (Previously Zomato Ltd)	Retailing	4.66%
Oracle Financial Services Software Ltd	IT	4.5%
TREPS	Cash & Cash Equivalents and Net Assets	4.07%
Kalyan Jewellers India Ltd	Diamond & Jewellery	4.06%
TD Power Systems Ltd	Capital Goods	4.01%
Interglobe Aviation Ltd	Aviation	3.86%
Five-Star Business Finance Ltd	Finance	3.82%
Shriram Finance Ltd	Finance	3.82%
FSN E–Commerce Ventures Ltd(Nykaa)	Retailing	3.64%

The top 10 holdings account for approximately 41.76% of the portfolio.

To see all holdings, visit the Sundaram Business Cycle Fund Direct Growth Plan page

Radico Khaitan Ltd is the largest disclosed position at 5.32%, so it is likely to have greater influence than any other single holding in the visible basket. The gap from the top holding to the tenth holding is not dramatic, which suggests the scheme is not built around one very large bet at the top.

Even so, the top slice is still meaningful. With 41.76% in the top 10 holdings and 33 disclosed holdings overall, the portfolio looks moderately concentrated: enough that the leading names may matter, but not so concentrated that one position dominates the whole fund.

The presence of TREPS in the top set also shows that cash and near-cash exposure may play a role in the portfolio construction. That can soften day-to-day movement a little, but the fund still remains an equity scheme with High Risk characteristics.

Source data date: as of 10 Sep 2026

Who should invest

This fund suits investors who are comfortable with High Risk equity exposure and who can stay invested long enough for a business-cycle style strategy to work through phases. The short-term numbers are positive relative to the benchmark, but the scheme’s own history is still brief, so it does not yet offer a full-cycle record.

The better fit is an investor who can tolerate uneven returns and would rather own a portfolio that may rotate across sectors and stocks than one that aims to mirror the index closely. The main trade-off is that the fund may deliver sharper swings in exchange for the possibility of stronger cycle-led gains.

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: 1% on or before 365D, Nil after 365D.

Source data date: as of 10 Sep 2026

Frequently asked questions

What is the current NAV of Sundaram Business Cycle Fund Direct Growth Plan?

The current NAV is ₹11.8838 as of 10 Sep 2026.

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

The fund’s 1-year return is 5.21%, while the 3-year and 5-year returns are Data not available because the scheme does not yet have those full periods.

How does the fund compare with its benchmark?

It has done better than the Nifty 50 in the available periods. The fund is positive over 1 month, 3 months and 1 year, while the benchmark is negative over 1 month and 1 year.

How does it compare with the peer funds shown here?

Its 1-year return is lower than the stronger peer figures shown here, while some peers also have much longer return histories. That means the fund currently looks weaker on raw recent return, even though it has stayed ahead of the benchmark.

What is the minimum SIP amount?

The minimum SIP amount is ₹100.

Who manages the fund and what is the exit load?

The fund is managed by Madanagopal Ramu, Sandeep Agarwal and Shalav Saket. The exit load is 1% on or before 365D and nil after 365D.

Bottom line

Sundaram Business Cycle Fund Direct Growth Plan has shown a better short-term pattern than the benchmark, but its own history is still short, so the picture is more about early momentum than a long record. Against the peer set, the fund’s recent return is modest, while several comparators have much stronger available numbers. The portfolio is High Risk and somewhat concentrated in its top holdings, which may suit investors who can live with volatility and want a cycle-driven equity approach.

Published on 11 September 2026 at 2:12 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.