EquityFlexi Cap FundRegularIDCWVery High

TRUSTMF Flexi Cap Fund

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

As of 05 Oct 2026, the NAV of TRUSTMF Flexi Cap Fund is ₹11.94 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has TRUSTMF Flexi Cap Fund delivered?

TRUSTMF Flexi Cap Fund has returned +4.71% over 1 year and +7.47% 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 TRUSTMF Flexi Cap Fund?

TRUSTMF Flexi Cap Fund charges an expense ratio of 3.19% 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 TRUSTMF Flexi Cap Fund?

TRUSTMF Flexi Cap Fund's largest holdings are ICICI Bank Limited (5.8%), Titan Company Limited (3.5%), Shriram Finance Limited (3.4%), Eternal Limited (3.3%) and Bajaj Finance Limited (2.8%). Holdings are disclosed monthly and change over time.

Q: How risky is TRUSTMF Flexi Cap Fund?

TRUSTMF Flexi Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 15.9% and its worst peak-to-trough fall in our sample was -19.3%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

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

TRUSTMF Flexi Cap Fund is benchmarked against the Nifty 500 TRI. Its alpha and beta on this page are measured against that index.

Q: Who manages TRUSTMF Flexi Cap Fund?

TRUSTMF Flexi Cap Fund is managed by Mihir Vora, Saurabh Kataria and Aakash Manghani at Trust.

Q: How is TRUSTMF Flexi Cap Fund taxed?

TRUSTMF 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.

Trust Mutual Fund · Best Flexi Cap Mutual Funds

NAV

₹11.94

+0.84% 1D

as of 05 Oct 2026

This is the Regular plan of TRUSTMF Flexi Cap Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is distributed, which is why this NAV sits below the growth plan of the same fund.

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Performance

+4.10%absolute

52-week rangePrev NAV ₹11.84

Latest ₹11.94

Low ₹10.1373rd percentile of its 52-week rangeHigh ₹12.60

Key Metrics

Annual fee charged by the fund, already deducted from NAV

3.19%

Category —

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

30.52

Category —

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

—

Category —

Scheme Info

Definitions

Plan

Regular · IDCW

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

None

1% - If redeemed/switched out within 180 days from the date of allotment. Nil - if redeemed/switched out after 180 days from the date of allotment.

Up to 1.00%

tiered — see the full terms

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

₹1,000

Smallest one-time (lumpsum) investment the scheme accepts

₹1,000

Nifty 500 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.

29 Apr 2024

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

Definitions

Absolute return over the last 1 month (not annualized)

-3.86%

Absolute return over the last 3 months (not annualized)

+1.10%

Absolute return over the last 6 months (not annualized)

+16.26%

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

+3.38%

Annualized returns (≥1Y — CAGR)

Definitions

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

+4.71%

3-year annualized return (CAGR)

—

5-year annualized return (CAGR)

—

10-year annualized return (CAGR)

—

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.

+7.47%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

15.90%

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

—

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

—

Largest peak-to-trough decline over full history

-19.33%

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

—

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

—

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

—

Excess return per unit of beta (market risk)

—

Active return over the benchmark per unit of tracking error

—

Annualized std dev of fund-minus-benchmark returns

—

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

—

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

—

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	-3.86%	—	—
3M abs	+1.10%	—	—
6M abs	+16.26%	—	—
1Y CAGR	+4.71%	—	—
3Y CAGR	—	—	—
5Y CAGR	—	—	—

Category average across peers in Flexi Cap Fund, 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.

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

₹1.20L

Current value

₹1.25L

Absolute

+3.84%

XIRR

+8.49%

Value vs. invested

ValueInvested

12 monthly installments of ₹10,000 into TRUSTMF 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	+3.38%	-7.18%	+10.56%
2025	-4.15%	+7.94%	-12.09%
2024part	+20.26%	—	—

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.

History points

602

Expense ratio

3.19%

AUM

₹1,045Cr

Portfolio turnover

276%

Exit load

1% - If redeemed/switched out within 180 days from the date of allotment. Nil - if redeemed/switched out after 180 days from the date of allotment.

Portfolio, AUM & scheme details shown from another plan of this scheme (same underlying portfolio).

P/E ratio

30.5

P/B ratio

7.1

Avg market cap

₹2,60,038Cr

P/E & P/B are portfolio-weighted harmonic means across 57 of 66 equity holdings (87% 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


TRUSTMF Flexi Cap FundThis fund Trust · Regular · IDCW	—	+4.71%	—	—	—	3.19%	₹1,045Cr
Bank of India Flexi Cap Fund Bank of India · Regular · IDCW	—	+7.59%	+17.02%	+14.29%	—	2.28%	₹2,414Cr
360 ONE Flexicap Fund 360 One · Regular · IDCW	—	+6.57%	+15.08%	—	—	2.37%	₹2,018Cr
ITI Flexi Cap Fund ITI · Regular · IDCW	—	+5.70%	+14.96%	—	—	2.31%	₹1,304Cr
Bajaj Finserv Flexi Cap Fund Bajaj Finserv · Regular · IDCW	—	+2.02%	+14.02%	—	—	2.24%	₹7,090Cr
Quant Flexi Cap Fund quant · Regular · IDCW	—	+7.12%	+13.58%	+12.07%	—	2.20%	₹6,713Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 99% of the equity sleeve priced.

Large cap53.0%
Mid cap25.3%
Small cap21.7%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity97.33%
Cash & Equivalents2.64%
Debt0.03%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
TRUSTMF Large & Midcap Fund Trust · Large & Mid Cap Fund	69.9%	—	2.28%	—
TRUSTMF Multi Cap Fund Trust · Multi Cap Fund	59.8%	★★★★★	1.82%	—
TRUSTMF Mid Cap Fund Trust · Mid Cap Fund	42.3%!	—	1.93%	—
PGIM India ELSS Tax Saver Fund PGIM India · ELSS	39.2%	★★☆☆☆	1.07%	+8.47%
Union Largecap Fund Union · Large Cap Fund	39.1%	★☆☆☆☆	1.68%	+6.69%
JM Large Cap Fund JM Financial · Large Cap Fund	38.8%	★★☆☆☆	1.19%	+9.54%
Groww ELSS Tax Saver Fund Groww · ELSS	38.8%	★☆☆☆☆	1.52%	+7.98%
Canara Robeco Flexi Cap Fund Canara Robeco · Flexi Cap Fund	38.6%	★★★☆☆	0.69%	+10.64%

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.

🚩Holdings under NSE surveillance (ASM)

3 holdings — 3.68% of the portfolio — sit in stocks NSE currently lists under its Additional Surveillance Measure. ASM is an exchange response to unusual price or volume activity (higher margins, and trade-for-trade settlement at stage II), not a view on the company or on this fund.

Milky Mist Dairy Food LimitedLong-term · Stage IV1.46%
Sansera Engineering LimitedLong-term · Stage I1.31%
Welspun Corp LimitedLong-term · Stage I0.91%

Source: NSE ASM list, matched to holdings by company name — a holding whose name differs from NSE's spelling may not be matched. BSE's separate list is not covered.

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.

-19.3%16 Dec 2024 → 07 Apr 2025
Fell over 4 months, back to the old high on 06 Aug 2026 — 16 months under water after the low.
-8.1%03 Jun 2024 → 04 Jun 2024
Fell over 1 day, back to the old high on 13 Jun 2024 — 9 days under water after the low.
-7.0%24 Sep 2024 → 13 Nov 2024
Fell over 2 months, back to the old high on 05 Dec 2024 — 22 days 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

₹1,045Cr

April - June 2026

-4%

since January - March 2026

−₹18.18Cr

est. net flow, last quarter

At or near its largest, ₹1,088Cr 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

TRUST Mutual Fund is run by TRUST Asset Management, part of the TRUST Group, a financial services firm with a fixed-income heritage. Its line-up leans heavily towards debt schemes.

Launched

06 Oct 2019

Total AUM

₹5,075Cr+19.3% QoQ

Avg AUM · April - June 2026

Website

trustmf.com

Fund Managers

MVMihir VoraStart date not disclosed

Role

Ms. Puja Trivedi Head - Compliance, Secretarial & Legal

Education

CFA - CFA Institute, USA PGDM - IIM, Lucknow Bachelor of Engineering - Maharaja Sayajirao University, Vadodara

Experience

Over 30 years of experience in Fund Management across various verticals in financial services industry, viz. Mutual 2025 Funds, Insurance, Sovereign Funds. From October 2023 till date: Chief Investment Officer, TRUST Asset Management Private Limited Sept. 2014 - Sept. 2023: Chief Investment Officer, Max Life Insurance Company April 2012 - September 2014: Chief Investment Officer (Offshore), Birla Sunlife Asset Management

Funds managed (3)

All schemes Mihir Vora runs →

SKSaurabh KatariaStart date not disclosed

Experience

Over 20 years of experience mainly in the Financial Services Industry. April 2026 till Date Head - Equity, Trust Asset Management Private Limited. July 2019 - April 2026 Sr. Fund Manager, Axis Max Life Insurance. August 2009 - June 2019 Fund Manager, BOI AXA Mutual Fund.

AMAakash ManghaniStart date not disclosed

Role

Mr. Vardhman Kochar Chief Risk Officer

Education

MBA – SP Jain School of Global Management, B.E. – Sardar Patel College of Engineering, University of Mumbai

Experience

Over 15 years of experience in equities, Since Inception: with expertise in research and portfolio i.e. October 11, management, demonstrating a keen analytical focus across diverse sectors. From February 2024 till date: Fund Manager – Equity, TRUST Asset Management Private Limited July 2022 - February 2024: Fund Manager, ICICI Prudential Life Insurance July 2019 - July 2022: Fund Manager, BOI AXA Investment Managers Private Limited December 2017 - July 2019: Senior Equity Research Analyst – Indian Equities, BOI AXA Investment Managers Private Limited March 2015 - November 2017: Equity Research Analyst – Indian Equities, BOI AXA Investment Managers Private Limited

Funds managed (2)

All schemes Aakash Manghani runs →

Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Benchmark and dealing terms from it and 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

Mihir Vora Aakash Manghani

Top holdings

ICICI Bank Limited Titan Company Limited Shriram Finance Limited Eternal Limited Bajaj Finance Limited Bharti Airtel Limited Lenskart Solutions Limited Larsen & Toubro Limited Muthoot Finance Limited Dixon Technologies (India) Limited State Bank of India Diamond Power Infra Limited

Trust 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 TRUSTMF Flexi Cap Fund?

As of 05 Oct 2026, the NAV of TRUSTMF Flexi Cap Fund is ₹11.94 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has TRUSTMF Flexi Cap Fund delivered?

TRUSTMF Flexi Cap Fund has returned +4.71% over 1 year and +7.47% 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 TRUSTMF Flexi Cap Fund?

TRUSTMF Flexi Cap Fund charges an expense ratio of 3.19% 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 TRUSTMF Flexi Cap Fund?

TRUSTMF Flexi Cap Fund's largest holdings are ICICI Bank Limited (5.8%), Titan Company Limited (3.5%), Shriram Finance Limited (3.4%), Eternal Limited (3.3%) and Bajaj Finance Limited (2.8%). Holdings are disclosed monthly and change over time.

How risky is TRUSTMF Flexi Cap Fund?

TRUSTMF Flexi Cap Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 15.9% and its worst peak-to-trough fall in our sample was -19.3%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What is the benchmark of TRUSTMF Flexi Cap Fund?

TRUSTMF Flexi Cap Fund is benchmarked against the Nifty 500 TRI. Its alpha and beta on this page are measured against that index.

Who manages TRUSTMF Flexi Cap Fund?

TRUSTMF Flexi Cap Fund is managed by Mihir Vora, Saurabh Kataria and Aakash Manghani at Trust.

How is TRUSTMF Flexi Cap Fund taxed?

TRUSTMF 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.