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

Q: How does it compare with the benchmark?

It has stayed below Nifty 50 over 1 month and 1 year, but it has outperformed the benchmark over 3 months and 3 years.

Updated: 17 Sept 2026 • 4:40 pm

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

Sundaram Flexi Cap Fund Direct Growth Plan has a NAV of ₹14.6879 as of 16 Sep 2026 and an AUM of ₹1,962 Cr. Its 1-year, 3-year and 5-year returns are -6.7%, 7.49% and 0%, and the fund sits in the High Risk category.

Our view is that this is a fund for investors who can tolerate wide swings and are comfortable with a patchy short-term track record. The portfolio is led by banks and other large-cap names, but the recent return profile has been weaker than the benchmark, so the fund needs time and patience to justify attention.

Table of Contents

Quick facts

Particular	Details
NAV	₹14.6879 as of 16 Sep 2026
AUM	₹1,962 Cr
Expense Ratio	0.62%
Launch Date	06 Sep 2022
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	Nil upto 25% of units and 1% for remaining units on or before 365D, Nil after 365D
Fund Managers	S. Bharath, Sandeep Agarwal, Shalav Saket

The fund is managed by S. Bharath, Sandeep Agarwal and Shalav Saket.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-5.2%	-4.41%
3M	-2.85%	-3.6%
1Y	-6.7%	-7.76%
3Y	7.49%	5.74%
5Y	Data not available	Data not available

The recent pattern has been uneven. Over 1 month and 3 months, the fund stayed under pressure, with the 1-month fall deeper than the benchmark and the 3-month slide slightly milder than the benchmark. That tells us the fund has not been moving in a straight line, even over short windows.

The 1-year picture is still negative, but the fund did a little better than Nifty 50 over the same period. That matters because it suggests the fund absorbed the weak market phase somewhat better than the benchmark, even though the absolute return remained below zero.

The longer 3-year figure is more encouraging, and it is ahead of the benchmark on the same horizon. Our reading is that the fund has shown some ability to recover and compound over a fuller cycle, but the recent 1-year decline shows that this advantage has not been consistent from one period to the next.

The 5-year comparison cannot be made because the fund does not have a full 5-year return history in the current record. For investors, that means the discussion should rely more on the 3-year trend, the recent softness and the portfolio mix rather than on a long uninterrupted track record.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD Sundaram 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
Sundaram Flexi Cap Fund Direct Growth Plan	-6.7%	7.49%	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 the current 1-year view, the fund trails every peer in this table, which reflects how sharply the recent period has worked against it. The 3-year picture is more balanced: it remains ahead of some peers, but it is still well below the stronger 3-year figures at the top of the table.

The 5-year view is also mixed because the fund does not have a full 5-year return in this record. Peers with longer histories show materially better multi-year compounding, so the short-term weakness and the longer-term gap tell slightly different stories. For our assessment, that combination points to a fund that has participated in recovery over time, but not with the same consistency as the stronger comparison set.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
ICICI Bank Ltd	Bank	6.65%
HDFC Bank Ltd	Bank	5.51%
Axis Bank Ltd	Bank	4.4%
State Bank of India	Bank	3.71%
Bharti Airtel Ltd	Telecom	3.66%
Larsen & Toubro Ltd	Infrastructure	3.55%
Reliance Industries Ltd	Crude Oil	3.45%
Infosys Ltd	IT	3.36%
Kotak Mahindra Bank Ltd	Bank	3.21%
Kirloskar Oil Engines Ltd	Automobile & Ancillaries	3.19%

The largest holding, ICICI Bank Ltd, accounts for 6.65% of the portfolio, so no single position dominates the fund by itself. The gap from the first holding to the tenth is moderate rather than extreme, moving from 6.65% to 3.19%, which suggests the top layer is fairly even.

The top 10 holdings together account for approximately 40.69% of the portfolio, and the full disclosed holding count is 55. That mix suggests a portfolio that is not concentrated only in a few names, but still has a meaningful weight in a relatively small group of large positions. In our view, the bank-heavy top end may keep the fund linked to financial-sector behaviour, while the broader tail could soften single-stock dependence.

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

Source data date: as of 16 Sep 2026

Who should invest

This fund may suit investors who are comfortable with High Risk equity exposure and who can stay invested through uneven short-term phases. The 3-year result is better than the benchmark, but the 1-year result is still negative and the recent trend has been weaker than the longer-term picture.

Our reading is that the fund fits a medium- to long-term horizon rather than a short holding period. Investors who can accept the trade-off between a reasonable multi-year recovery pattern and recent volatility may find it more relevant than those seeking steadier near-term outcomes.

The portfolio also matters here: the top holdings are led by banks, so the fund may move with financial-sector sentiment even while staying flexi-cap in mandate. That makes it more suitable for investors who can tolerate that kind of concentration risk in exchange for possible participation in a broader market recovery.

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 25% of units and 1% for remaining units on or before 365 days; no exit load after the holding period.

Source data date: as of 16 Sep 2026

Frequently asked questions

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

The current NAV is ₹14.6879 as of 16 Sep 2026.

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

The fund’s 1-year return is -6.7%, the 3-year return is 7.49%, and the 5-year return is 0% in the current record.

How does it compare with the benchmark?

It has stayed below Nifty 50 over 1 month, 1 year and 1 month-to-date-like short windows, but it has outperformed the benchmark over 3 months, 1 year and 3 years.

How does it compare with the peer funds listed here?

The fund trails the peer set on the 1-year view and is below the stronger 3-year figures shown by several peers, while its 3-year return still stays ahead of some comparison funds.

Does the fund have a minimum SIP amount?

No minimum SIP amount is stated in the current fund details, so we do not list one here.

Who manages the fund and what is the exit load?

The fund is managed by S. Bharath, Sandeep Agarwal and Shalav Saket. The exit load is nil up to 25% of units and 1% for remaining units on or before 365 days, with no exit load after the holding period.

Bottom line

Sundaram Flexi Cap Fund Direct Growth Plan shows a clear split between weaker recent performance and a more constructive 3-year record. It has also lagged the stronger peer numbers on the 1-year and 3-year view, even though it remains ahead of the benchmark over 3 years. The fund carries High Risk, and its bank-heavy top holdings mean the portfolio may lean more than average on financials. For investors who can handle volatility and think in multi-year terms, that is the right frame to use.

Published on 17 September 2026 at 4:38 PM IST

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.