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

WOC Flexi Cap Fund Direct Growth Plan is priced at ₹18.753 as of 16 September 2026 and manages ₹9,594 Cr. Its 1-year, 3-year and 5-year returns are 2.06%, 13.78% and Data not available, and the fund sits in the High Risk category.

Our view is that this is a fund for investors who can tolerate noticeable swings and are looking at a longer horizon. The benchmark link is not enough to show steady outperformance in the near term, but the 3-year track is stronger than the 1-year stretch, while the portfolio is led by large financials and other established names.

Quick facts

Particular	Details
NAV	₹18.753 as of 16 Sep 2026
AUM	₹9,594 Cr
Expense Ratio	0.51%
Launch Date	02 Aug 2022
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	1% on or before 1M, Nil after 1M
Fund Managers	Ramesh Mantri, Piyush Baranwal, Trupti Agrawal, Dheeresh Pathak

The fund is managed by Ramesh Mantri, Piyush Baranwal, Trupti Agrawal and Dheeresh Pathak.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.5%	-4.41%
3M	1.94%	-3.6%
1Y	2.06%	-7.76%
3Y	13.78%	5.74%
5Y	Data not available	Data not available

The recent pattern is mixed, but it is better than the benchmark across the periods where both sets of figures are available. The 1-month stretch was weak, yet it was still less negative than the benchmark, and the 3-month move turned positive while the benchmark stayed negative. That suggests the fund has handled the latest phase better than the index, even if the short-term picture is not uniformly strong.

The longer view is more constructive. The 3-year return is comfortably above the benchmark’s 3-year return, which tells us the fund has added more value over a full market cycle than the index itself. At the same time, the 1-year return is modest compared with that 3-year number, so the recent run has been softer than the medium-term trend. In our view, that gap matters because it shows the fund’s path has not been smooth.

The 5-year figure is not available, so we would not read too much into the fund’s shorter history for very long holding periods. What is clear is that the fund has shown a better recovery pattern than the benchmark in the last few months, but the track record available here still points to uneven compounding rather than a straight upward line.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD WOC 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
WOC Flexi Cap Fund Direct Growth Plan	2.06%	13.78%	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 available 1-year figures, the fund trails the stronger peer results by a wide margin, even though it has stayed ahead of the benchmark over the same stretch. The 3-year number is more competitive and sits closer to the better peer outcomes, which tells us the medium-term picture is healthier than the recent one. The available 5-year peer figures also show some rivals with stronger long-horizon results, so the comparison is more mixed once the frame widens.

Our reading is that the short-term and longer-term comparisons point in different directions. The fund has improved relative to the benchmark in recent months, but several peers still show stronger 1-year returns, and some also hold a firmer long-term edge where 5-year data exists. That leaves the fund looking more like a steady but uneven performer than a clear standout across every horizon.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
ICICI Bank Limited	Bank	8.74%
Bharti Airtel Limited	Telecom	4.54%
Nestle India Limited	FMCG	3.81%
HDFC Bank Limited	Bank	3.61%
Clearing Corporation of India Ltd	Cash & Cash Equivalents and Net Assets	3.42%
State Bank of India	Bank	2.82%
Mahindra & Mahindra Limited	Automobile & Ancillaries	2.76%
Reliance Industries Limited	Crude Oil	2.18%
Kotak Mahindra Bank Limited	Bank	2.14%
Eternal Limited	Retailing	1.88%

The top 10 holdings account for approximately 35.9% of the portfolio.

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

ICICI Bank Limited is the largest holding at 8.74%, and that single position may have a meaningful effect on how the fund behaves because it is materially larger than each of the other disclosed names. The next few positions are still sizeable, but the weights step down fairly quickly after the first holding, which suggests the portfolio does not rely on just one or two positions alone.

By the tenth holding, the weight has eased to 1.88%, so there is a clear drop from the leader to the tail of the disclosed list. That pattern usually points to a portfolio where the largest names matter most, but where several other positions can still contribute in a meaningful way. In this case, the spread from 8.74% to 1.88% is wide enough to show that influence is uneven across the top holdings.

With 35.9% in the top 10 positions and 51 disclosed holdings in total, the portfolio looks moderately concentrated at the top while still leaving room for a longer tail. Our view is that this mix may provide balance between conviction in core names and diversification across many smaller positions, although the larger holdings are likely to shape returns more than the rest.

Source data date: as of 16 Sep 2026

Who should invest

This fund is better suited to investors who are comfortable with High Risk and can stay invested long enough to ride through uneven patches. The 3-year return is much stronger than the 1-year return, which tells us the path can be choppy even when the medium-term outcome improves. That makes a longer horizon more relevant than a short holding period.

The benchmark comparison also matters. The fund has recently done better than Nifty 50, but the edge is not smooth or consistent across every stretch. Investors who want steadier, benchmark-like behaviour may find the swings harder to accept, while those who can tolerate variability may see the recovery pattern as acceptable. The main trade-off is higher fluctuation in exchange for the chance to participate in a more active, stock-picking portfolio.

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 at 1% if units are sold within 1 month, and it is nil after 1 month.

Source data date: as of 16 Sep 2026

Frequently asked questions

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

The current NAV is ₹18.753 as of 16 September 2026.

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

The fund’s 1-year return is 2.06% and its 3-year return is 13.78%. The 5-year return is Data not available.

How does the fund compare with Nifty 50?

It has outpaced Nifty 50 across the available periods in this review. The gap is most visible over 3 years, where the fund’s return is well above the benchmark’s return.

How does it compare with the peer funds listed here?

The fund’s 1-year return is below several of the peer funds shown here, while its 3-year return is more competitive. Where 5-year figures are available for peers, some of those funds have stronger long-term outcomes.

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 Ramesh Mantri, Piyush Baranwal, Trupti Agrawal and Dheeresh Pathak. Exit load is 1% if units are sold within 1 month and nil after 1 month.

Bottom line

WOC Flexi Cap Fund Direct Growth Plan shows a better medium-term picture than its latest 1-year result, and it has also held up better than Nifty 50 across the periods where both are available. Against peers, the shorter-term return looks softer, while the 3-year outcome is more respectable. The portfolio leans on a few large positions, especially ICICI Bank, so the fund may feel more active than a broad market route. Our view is that it fits investors who can handle High Risk and want a longer horizon rather than a smooth near-term ride.

Published on 17 September 2026 at 3:12 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.