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Motilal Oswal Business Cycle Fund

Motilal Oswal Mutual Fund · Best Sectoral & Thematic Mutual Funds

NAV
₹12.20
+0.61% 1D
as of 05 Oct 2026
CompareSIP calculator

Performance

-2.71%absolute
52-week rangePrev NAV ₹12.13
Latest ₹12.20
Low ₹9.9467th percentile of its 52-week rangeHigh ₹13.31

Scorecard

★★☆☆☆2/5 vs 229 of 255 Sectoral/ Thematic peers1Y
  • 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 Sectoral/ Thematic (same plan and option). Based on a 1-year record — this fund is too young for a 3-year CAGR, so its performance is ranked on 1Y against the same peers. 229 of the 255 Sectoral/ Thematic funds in this cohort carry the full record the stars need, so they are the ones ranked against.

Performance—

Not enough Sectoral/ Thematic peers to rank yet

RiskHigh

Volatility 18.8% vs 15.6% category avg

CostAverage

2.5% expense vs 2.5% category avg

Consistency—

Not enough history for a rolling 3Y view

Strengths & concerns

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

Strengths

No standout strengths identified.

Concerns

  • 1-year return (-1.93%) trails the Sectoral/ Thematic average (+2.16%)
  • More volatile than its Sectoral/ Thematic peers (18.8% vs 15.6%)

Key Metrics

2.50%
Category 2.46%▲0.04%
41.57
Category —
—
Category 0.36

Scheme Info

Definitions
Plan
Regular · Growth
None
Up to 1.00%
tiered — see the full terms
0.005%
SIP Inv.
—
—
₹500
Nifty 500 TRI
02 Sep 2024

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

Definitions
-4.39%
+5.49%
+19.34%
-2.14%

Annualized returns (≥1Y — CAGR)

Definitions
-1.93%
—
—
—
+7.33%
Advanced metrics — risk and benchmark ratios

Fund vs category average (Sectoral/ Thematic)

PeriodFundCategory avg.Diff
1M abs-4.39%-4.57%+0.18%
3M abs+5.49%-2.65%+8.14%
6M abs+19.34%+11.36%+7.98%
1Y CAGR-1.93%+2.16%-4.09%
3Y CAGR—+12.50%—
5Y CAGR—+10.81%—

Category average across peers in Sectoral/ Thematic (up to 255 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 255 peers in Sectoral/ Thematic

1Y return
-1.93%
Beats 39% · rank #140
3Y return
—
—
5Y return
—
—
Sharpe
—
—
Sortino
—
—

Backtest this fund

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

Period
Invested
₹1.20L
Current value
₹1.24L
Absolute
+3.42%
XIRR
+7.54%
Value vs. invested
ValueInvested

12 monthly installments of ₹10,000 into Motilal Oswal Business Cycle 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.

YearFundNifty 500 TRIDiff
2026part-2.14%-7.18%+5.04%
2025-3.70%+7.94%-11.64%
2024part+23.00%——

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.

History points
516
Expense ratio
2.50%
AUM
₹1,534Cr
Portfolio turnover
179%
Exit load
1% - If redeemed on or before 3 Months from the date of allotment. Nil - If redeemed after 3 Months from the date of allotment.
Portfolio, AUM & scheme details shown from another plan of this scheme (same underlying portfolio).
P/E ratio
41.6
P/B ratio
5.5
Avg market cap
₹1,14,132Cr
P/E & P/B are portfolio-weighted harmonic means across 26 of 31 equity holdings (77% 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.

Asset allocation

As on 31 Aug 2026 · AMC disclosure
  • Equity95.36%
  • Cash & Equivalents4.64%

Fund size over time

Quarterly average AUM · AMFI
₹1,534Cr
April - June 2026
-14%
since January - March 2026
−₹155.42Cr
est. net flow, last quarter

Down +14% from its peak of ₹1,783Cr 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.

Motilal Oswal Mutual Fund logo

AMC Profile

Motilal Oswal Mutual Fund is the asset management arm of the broker Motilal Oswal Financial Services and launched its first scheme in 2010. It is known for a concentrated 'buy right, sit tight' equity philosophy and for a large passive and international range.

Launched
28 Dec 2009
Total AUM
₹1,58,858Cr+11.5% QoQ
Avg AUM · July - September 2026
Website
motilaloswalmf.com

Fund Managers

AKAjay KhandelwalStart date not disclosed
Education

1. CFA Level 3 2. PGDM – MBA - TAPMI, Manipal 3. B.E. Electrical Engineer MITS, Gwalior

Experience

• Mr Ajay Khandelwal has around 19 years of experience in fund management and research activity. Earlier he was associated with Canara Robeco Asset Management Company as Fund Manager, where he used to take active part in fund management activity of Small Cap Fund. • He started his professional journey as a Research Analyst in BOI AXA Investment Managers, where he used to research on Information Technology (IT) and Banking, Financial Services and Insurance (BFSI) industry, understanding the sector and company specification through data analysis.

All schemes Ajay Khandelwal runs →
AAAnkit AgarwalManaging since 22 Jan 2026
Education

• PGDM, Indian Institute of Management (IIM) Bangalore • B.Tech National Institute of Technology, Trichy

Experience

• Mr. Ankit Agarwal has an impressive career with over 20 years of investment experience across asset management, portfolio management, equity research, and capital markets. • Mr. Agarwal was engaged with UTI AMC, where he gained extensive experience in equity research across healthcare, telecom, technology and midcap sectors. He also contributed to Barclays Wealth, providing investment research and insights tailored for high-net-worth clients. • • Mr. Agarwal’s professional journey includes global exposure through roles at Lehman Brothers (London), BNP Paribas (Hong Kong) and D. E. Shaw (Proprietary trading systems).

All schemes Ankit Agarwal runs →
VSVarun SharmaManaging since 22 Jan 2026
Education

• CFA Level 2 PGDM from Indian Institute of Management – Kolkata

Experience

• Mr. Varun Sharma has an impressive career with over 15 years of extensive experience in Investment Management. • Mr. Sharma’s professional journey includes significant tenures at esteemed organizations such as ICICI Securities and Franklin Templeton Asset Management Company. • Prior to his current role at MOAMC, Mr. Sharma dedicated more than a decade of his expertise to Franklin Templeton, where he excelled as a Fund Manager.

All schemes Varun Sharma runs →
AMAtul MehraStart date not disclosed
Education

CFA Charterholder, CFA Institute, Charlottesville, Virginia, USA Masters in commerce; Mumbai University Bachelor’s in commerce, Mumbai University, HR College of Commerce and Economics

Experience

• Atul has over 16 years of overall experience. He is associated with Motilal Oswal Asset Management Company Ltd – Senior Vice President, Fund Manager – Equity. • Prior to this he is associated as Senior Vice President, Fund Manager – PMS and AIFs. (December 2013 – December 2023). Further, prior to this he was associated with Edelweiss Capital Ltd – Research Analyst (2008 - 2013).

All schemes Atul Mehra runs →
RSRakesh ShettyStart date not disclosed
Education

Bachelors of Commerce (B.Com)

Experience

• Mr. Rakesh Shetty has more than 15 years of overall experience and expertise in trading in equity, debt segment, Exchange Trade Fund’s management, Corporate Treasury and Banking. • Prior to joining Motilal Oswal Asset Management Company Limited, he has worked with Company engaged in Capital Market Business wherein he was in charge of equity and debt ETFs, customized indices and has also been part of product development.

Funds managed (80)
All schemes Rakesh Shetty runs →
SMSwapnil MayekarManaging since 18 Nov 2025
Education

Master of Commerce (Finance Management)

Experience

Mr. Swapnil Mayekar has rich experience in the field of Research. He had earlier worked with organizatio n like Business Standard Limited where he was primarily responsible for research on Banking Sector, Mutual Fund, Debt market, Internation al and Indian Stock Market using valuation models. He is associated with MOAMC since March 2010 where his primarily role is to develop model structure, to perform portfolio assessment s on a periodic basis for investment strategies & models and analysis of Exchange Traded Funds, Mutual fund scheme and stocks.

Funds managed (59)
All schemes Swapnil Mayekar 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
Ajay KhandelwalAnkit AgarwalVarun SharmaAtul MehraRakesh ShettySwapnil Mayekar
Top holdings
Ellenbarrie Industrial Gases LimitedEternal LimitedCoforge LimitedHealthcare Global Enterprises LimitedKalyan Jewellers India LimitedRBL Bank LimitedIndusInd Bank LimitedMax Healthcare Institute LimitedUrban Company LtdApollo Hospitals Enterprise LimitedCG Power and Industrial Solutions LimitedPersistent Systems Ltd
Run SIP calculatorAdd to compare

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 Sectoral & Thematic funds

Sectoral and thematic funds must keep at least 80% in the equity of one sector (banking, pharma, technology) or one theme (consumption, manufacturing, ESG). That concentration is the point and the risk: with no mandate to diversify away from the sector, the fund rises and falls with it.

Frequently asked questions

What is the NAV of Motilal Oswal Business Cycle Fund?

As of 05 Oct 2026, the NAV of Motilal Oswal Business Cycle Fund is ₹12.20 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Motilal Oswal Business Cycle Fund delivered?

Motilal Oswal Business Cycle Fund has returned -1.93% over 1 year and +7.33% 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 Motilal Oswal Business Cycle Fund?

Motilal Oswal Business Cycle Fund charges an expense ratio of 2.50% 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 Motilal Oswal Business Cycle Fund?

Motilal Oswal Business Cycle Fund's largest holdings are Ellenbarrie Industrial Gases Limited (6.4%), Eternal Limited (5.4%), Coforge Limited (4.9%), Healthcare Global Enterprises Limited (4.3%) and Kalyan Jewellers India Limited (4.2%). Holdings are disclosed monthly and change over time.

How risky is Motilal Oswal Business Cycle Fund?

Motilal Oswal Business Cycle Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 18.8% and its worst peak-to-trough fall in our sample was -25.3%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What is the benchmark of Motilal Oswal Business Cycle Fund?

Motilal Oswal Business Cycle Fund is benchmarked against the Nifty 500 TRI. Its alpha and beta on this page are measured against that index.

Who manages Motilal Oswal Business Cycle Fund?

Motilal Oswal Business Cycle Fund is managed by Ajay Khandelwal, Ankit Agarwal, Varun Sharma, Atul Mehra, Rakesh Shetty and Swapnil Mayekar at Motilal Oswal.

How is Motilal Oswal Business Cycle Fund taxed?

Motilal Oswal Business Cycle 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.