EquityFlexi Cap FundDirectGrowthVery High

Union Flexi Cap Fund

Q: What is the NAV of Union Flexi Cap Fund?

As of 05 Oct 2026, the NAV of Union Flexi Cap Fund is ₹56.96 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Union Flexi Cap Fund delivered?

Union Flexi Cap Fund has returned -0.38% over 1 year, +10.39% per year over 3 years, +9.27% per year over 5 years and +12.73% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

Q: What is the expense ratio of Union Flexi Cap Fund?

Union Flexi Cap Fund charges an expense ratio of 1.50% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of Union Flexi Cap Fund?

Union Flexi Cap Fund's largest holdings are ICICI Bank Ltd. (6.6%), HDFC Bank Ltd. (3.8%), Axis Bank Ltd. (3.7%), State Bank of India (3.5%) and Bharti Airtel Ltd. (2.5%). Holdings are disclosed monthly and change over time.

Q: How risky is Union Flexi Cap Fund?

Union Flexi Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 14.1% and its worst peak-to-trough fall in our sample was -35.4%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What does the Sharpe ratio of 0.28 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Union Flexi Cap Fund's 0.28 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of Union Flexi Cap Fund?

Union Flexi Cap Fund is benchmarked against the BSE 500 Index (TRI). Its alpha and beta on this page are measured against that index.

Q: Who manages Union Flexi Cap Fund?

Union Flexi Cap Fund is managed by Sanjay Bembalkar and Vinod Malviya at Union.

Q: How is Union Flexi Cap Fund taxed?

Union Flexi Cap Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.

Union Mutual Fund · Best Flexi Cap Mutual Funds

NAV

₹56.96

+0.51% 1D

as of 05 Oct 2026

This is the Direct plan of Union Flexi Cap Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.

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Performance

-1.11%absolute

52-week rangePrev NAV ₹56.67

Latest ₹56.96

Low ₹50.6366th percentile of its 52-week rangeHigh ₹60.24

Scorecard

★★☆☆☆2/5 vs 36 of 45 Flexi Cap Fund peers

Performance 60%
Risk 15%
Cost 10%
Downside 15%

How this is computed

Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Flexi Cap Fund (same plan and option). 36 of the 45 Flexi Cap Funds in this cohort carry the full record the stars need, so they are the ones ranked against.

PerformanceAverage

3Y CAGR +10.39% · ranks 22 of 36 Flexi Cap Funds

RiskModerate

Volatility 14.1% vs 14.2% category avg

CostHigh

1.5% expense vs 1.1% category avg

ConsistencyHigh

99% of rolling 3Y windows were positive

Strengths & concerns

Generated from this fund's own numbers against its sub-category — each point names the figure behind it.

Strengths

Consistent — positive in 99% of rolling 3-year windows

Concerns

1-year return (-0.38%) trails the Flexi Cap Fund average (+0.24%)
3-year return (+10.39%) trails the Flexi Cap Fund average (+12.09%)
5-year return (+9.27%) trails the Flexi Cap Fund average (+10.22%)
Weaker risk-adjusted returns — Sharpe 0.28 below the Flexi Cap Fund average of 0.38
High expense ratio (1.50%) vs the Flexi Cap Fund average of 1.11%

Key Metrics

Annual fee charged by the fund, already deducted from NAV

1.50%

Category 1.11%▲0.39%

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

27.54

Category 25.18▲2.36

Excess return per unit of total volatility (rf = 6.5%)

0.28

Category 0.38▼0.10

Scheme Info

Definitions

Plan

Direct · Growth

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

None

1% if units are redeemed or switched out on or before completion of 15 days from the date of allotment. Nil thereafter.

1.00%

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹100

Smallest one-time (lumpsum) investment the scheme accepts

₹1,000

BSE 500 Index (TRI)

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

02 Jan 2013

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

-4.14%

Absolute return over the last 3 months (not annualized)

-2.58%

Absolute return over the last 6 months (not annualized)

+10.67%

Absolute return since 1 Jan of this year (not annualized)

-2.23%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

-0.38%

3-year annualized return (CAGR)

+10.39%

5-year annualized return (CAGR)

+9.27%

10-year annualized return (CAGR)

+12.78%

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+12.73%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

14.11%

Excess return per unit of total volatility (rf = 6.5%)

0.28

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

0.37

Largest peak-to-trough decline over full history

-35.36%

Benchmark ratios (vs Nifty 500 TRI · 36 monthly returns)

Definitions

Jensen's alpha (annualized): return above what CAPM predicts for the fund's beta vs Nifty 500 TRI

0.77%

Sensitivity to Nifty 500 TRI moves; 1 = moves with the index

0.94

How much of the fund's movement Nifty 500 TRI explains

94.1%

Excess return per unit of beta (market risk)

4.10

Active return over the benchmark per unit of tracking error

0.17

Annualized std dev of fund-minus-benchmark returns

3.84%

Fund's share of benchmark gains in up months (100 = matches index)

98.3%

Fund's share of benchmark losses in down months (lower is better)

93.9%

Computed vs the Nifty 500 TRI over the last 36 complete months — the closest match to this fund's mandate. TRI means dividends reinvested, as they are in the fund's own NAV; ₹ means a US index converted at each day's USD/INR, since the fund is priced in rupees. Needs ~3 years of history; a low R² means the fund tracks the index loosely.

Fund vs category average (Flexi Cap Fund)

Period	Fund	Category avg.	Diff
1M abs	-4.14%	-4.29%	+0.15%
3M abs	-2.58%	-2.43%	-0.15%
6M abs	+10.67%	+10.43%	+0.24%
1Y CAGR	-0.38%	+0.24%	-0.62%
3Y CAGR	+10.39%	+12.09%	-1.70%
5Y CAGR	+9.27%	+10.22%	-0.95%

Category average across peers in Flexi Cap Fund (up to 45 funds with data), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).

Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.

Category rank

Vs 45 peers in Flexi Cap Fund

1Y return

-0.38%

Beats 48.8% · rank #22

3Y return

+10.39%

Beats 40% · rank #22

5Y return

+9.27%

Beats 38.5% · rank #17

Sharpe

0.28

Beats 40% · rank #22

Sortino

0.37

Beats 40% · rank #22

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹7.54L

Absolute

+25.74%

XIRR

+9.39%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into Union Flexi Cap Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.

Calendar-year returns

What the fund actually returned in each year, not the smoothed average.

Year	Fund	Nifty 500 TRI	Diff
2026part	-2.23%	-7.18%	+4.95%
2025	+4.17%	+7.94%	-3.77%
2024	+18.20%	+16.43%	+1.77%
2023	+28.97%	+27.43%	+1.54%
2022	+0.05%	+4.34%	-4.29%
2021	+38.27%	+31.59%	+6.68%
2020	+21.82%	+18.33%	+3.49%
2019	+12.39%	+8.95%	+3.44%
2018	-2.76%	-2.33%	-0.43%
2017	+28.35%	+37.35%	-9.00%

January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in; those years show no benchmark comparison.

Recent changes

Expense-ratio, fund-manager, exit-load and minimum-investment changes we've picked up in the last 30 days.

Expense ratio down: 1.55% → 1.50%
02 Oct 2026

History points

3,383

Expense ratio

1.50%

AUM

₹2,288Cr

Portfolio turnover

117%

Exit load

1% if units are redeemed or switched out on or before completion of 15 days from the date of allotment. Nil thereafter.

P/E ratio

27.5

P/B ratio

5.3

Avg market cap

₹3,06,673Cr

P/E & P/B are portfolio-weighted harmonic means across 59 of 72 equity holdings (82% of the portfolio); loss-making companies are excluded.

Taxation

Taxed as equity

This is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.

Short-term (STCG)

20%

Held under 1 year

Flat, on the whole gain

Long-term (LTCG)

12.5%

Held 1 year or more

On gains above ₹1.25 L per financial year

Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.

Peer comparison · Flexi Cap Fund

Compare all


Union Flexi Cap FundThis fund Union · Direct · Growth	★★☆☆☆	-0.38%	+10.39%	+9.27%	27.54	1.50%	₹2,288Cr
Bank of India Flexi Cap Fund Bank of India · Direct · Growth	★★★★☆	+9.08%	+18.69%	+15.99%	24.33	0.88%	₹2,414Cr
ITI Flexi Cap Fund ITI · Direct · Growth	★★★★☆	+10.94%	+18.16%	—	25.40	0.88%	₹1,304Cr
Motilal Oswal Flexi Cap Fund Motilal Oswal · Direct · Growth	★★☆☆☆	+2.31%	+17.59%	+12.26%	40.48	1.18%	₹12,836Cr
360 ONE Flexicap Fund 360 One · Direct · Growth	★★★★☆	+8.17%	+16.88%	—	25.32	0.92%	₹2,018Cr
Invesco India Flexi Cap Fund Invesco · Direct · Growth	★★★★★	-0.79%	+16.34%	—	35.71	0.88%	₹4,904Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 100% of the equity sleeve priced.

Large cap57.1%
Mid cap17.9%
Small cap24.9%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity97.54%
Cash & Equivalents2.38%
Debt0.08%

Holds the same stocks as (by portfolio overlap, not by category)

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Union Aggressive Hybrid Fund Union · Aggressive Hybrid Fund	71.6% of 72% equity	★★★☆☆	1.59%	+9.97%
Union Balanced Advantage Fund Union · Dynamic Asset Allocation or Balanced Advantage	65.2% of 74% equity	★★★☆☆	1.46%	+7.80%
Union Multi Asset Allocation Fund Union · Multi Asset Allocation	64.8% of 68% equity	★★★☆☆	1.29%	—
Union ELSS Tax Saver Fund Fund Union · ELSS	58.9%!	★☆☆☆☆	1.71%	+9.60%
Union Large & Midcap Fund Union · Large & Mid Cap Fund	56.2%	★★★☆☆	1.31%	+12.40%
Union Retirement Fund Union · Retirement Fund	49.3%	★★★★☆	1.36%	+11.93%
Union Children's Fund Union · Children’s Fund	48.9%	★★☆☆☆	1.45%	—
Union Equity Savings Fund Union · Equity Savings	47.5% of 68% equity	★☆☆☆☆	2.11%	+6.62%

Overlap is the share of each fund's equity book invested in the same stocks, by weight, across the Direct-plan universe — so a fund that is only part equity is labelled as such. ! marks a pair holding more in common than nine pairs in ten of its type, where that type has a measured distribution.

Worst falls, and the wait to get back

How far this fund has dropped from a high, and how long it took to reclaim it.

-35.4%19 Feb 2020 → 23 Mar 2020
Fell over 33 days, back to the old high on 16 Sep 2020 — 6 months under water after the low.
-25.8%03 Mar 2015 → 29 Feb 2016
Fell over 12 months, back to the old high on 05 Apr 2017 — 13 months under water after the low.
-18.9%17 Jan 2022 → 20 Jun 2022
Fell over 5 months, back to the old high on 31 May 2023 — 11 months under water after the low.

Measured on this fund’s own NAV history, peak to trough to the day it regained the peak. Falls shallower than 5% are left out. A recovery date is when the NAV got back, not when any particular investor did — that depends on when they bought.

Fund size over time

Quarterly average AUM · AMFI

₹2,288Cr

April - June 2026

-1%

since January - March 2026

+₹68.07Cr

est. net flow, last quarter

At or near its largest, ₹2,301Cr in January - March 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.

Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.

AMC Profile

Union Mutual Fund is sponsored by Union Bank of India, and was branded Union KBC until its Belgian joint-venture partner exited. It runs a small equity, hybrid and debt line-up.

Launched

29 Dec 2009

Total AUM

₹28,552Cr+1.6% QoQ

Avg AUM · July - September 2026

Website

unionmf.com

Fund Managers

SBSanjay BembalkarManaging since 25 Jan 2023

Role

Co-Head-Equity

Education

CFA® charterholder with the CFA Institute, USA, Chartered Accountant, M.Sc. (Accounting and Finance), B.Com.

Experience

Industry experience: Over 17 years of experience in the field Innovation of Equity Research and Fund Management. Appointed as Fund Manager (Equity) at Union Asset Management Company Private Limited with effect from June 07, 2021. October 2019 to May 2021 with Canara Robeco Asset Management Company Limited as Fund Manager Equities. December 2017 to October 2019 with Canara Robeco Asset Management Company Limited as Research Analyst – Equity. August 2015 to December 2017 with LIC Mutual Fund Asset Management Ltd. as Research Analyst – Equity. • April 2010 to August 2015 with Quantum Advisors Pvt. Ltd. as Assistant Vice President (Equity Research). •

Funds managed (16)

All schemes Sanjay Bembalkar runs →

VMVinod MalviyaStart date not disclosed

Role

Co - Fund Manager

Education

Bachelor of Management Studies, M aster’s in Financial Management, CFA (USA) – Level III cleared

Experience

Over 16 years of experience in the Financial markets as an Analyst. Designated as Fund Manager - Equity with effect from December 09, 2024. Appointed as Co-Fund Manager with effect from January 25, 2023. February 2020 – January 24, 2023 with Union Asset Management Company Pvt. Ltd. as Research Analyst - Equity. July 2014 to January 2020 with Florintree Advisors Private Limited as Union Children’s Principal. August 2012 to June 2014 with East India Securities Limited as Research Analyst. September 2008 to July 2012 with Amit Nalin Securities Private Limited as Research Analyst

Funds managed (11)

All schemes Vinod Malviya runs →

Fund manager, benchmark and dealing terms from this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.

Explore from here

Fund managers

Sanjay Bembalkar Vinod Malviya

Top holdings

ICICI Bank Ltd.HDFC Bank Ltd.Axis Bank Ltd.State Bank of India Bharti Airtel Ltd.Ather Energy Ltd.Bajaj Finance Ltd.Eternal Ltd.One 97 Communications Ltd.Cholamandalam Investment & Finance Co. Ltd.Gabriel India Ltd.Divi's Laboratories Ltd.

Union in the news

Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.

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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.

About Flexi Cap funds

Flexi cap funds invest across large, mid and small-cap stocks with no fixed allocation, letting the manager shift with the market cycle. That flexibility can help manage risk and chase growth wherever it is.

Frequently asked questions

What is the NAV of Union Flexi Cap Fund?

As of 05 Oct 2026, the NAV of Union Flexi Cap Fund is ₹56.96 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Union Flexi Cap Fund delivered?

Union Flexi Cap Fund has returned -0.38% over 1 year, +10.39% per year over 3 years, +9.27% per year over 5 years and +12.73% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

What is the expense ratio of Union Flexi Cap Fund?

Union Flexi Cap Fund charges an expense ratio of 1.50% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

What are the top holdings of Union Flexi Cap Fund?

Union Flexi Cap Fund's largest holdings are ICICI Bank Ltd. (6.6%), HDFC Bank Ltd. (3.8%), Axis Bank Ltd. (3.7%), State Bank of India (3.5%) and Bharti Airtel Ltd. (2.5%). Holdings are disclosed monthly and change over time.

How risky is Union Flexi Cap Fund?

Union Flexi Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 14.1% and its worst peak-to-trough fall in our sample was -35.4%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What does the Sharpe ratio of 0.28 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Union Flexi Cap Fund's 0.28 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of Union Flexi Cap Fund?

Union Flexi Cap Fund is benchmarked against the BSE 500 Index (TRI). Its alpha and beta on this page are measured against that index.

Who manages Union Flexi Cap Fund?

Union Flexi Cap Fund is managed by Sanjay Bembalkar and Vinod Malviya at Union.

How is Union Flexi Cap Fund taxed?

Union Flexi Cap Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.