Bandhan Business Cycle Fund
- NAV as on 6 Nov 2026
- ₹9.90+0.99%1 day
- Return since launch
- -0.5%
- 52-week range
- ₹8.48 — ₹10.33
- AUM
- ₹1,003 Cr
Bandhan Business Cycle Fund is a Equity Opportunities equity fund from Bandhan Mutual Fund with ₹1,003 Cr under management, launched in 2024. The expense ratio is 2.47% and the SEBI riskometer reading is Very High.
Performance
Bandhan Business Cycle Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned -2.5% against -1.5% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 4.2% | +0.7 pts | 3.6% | 4.8% |
| 2Y | 2.8% | −2.8 pts | 5.5% | 2.8% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 5.3% | +3.4 pts | 1.9% | 4.2% |
| 3M | -0.5% | +0.9 pts | -1.4% | -1.5% |
| 6M | 1.7% | −1.5 pts | 3.3% | 3.8% |
| 1Y | -2.5% | −6.1 pts | 3.6% | -1.7% |
| 2Y | 0.5% | −1.2 pts | 1.7% | -0.2% |
Since launch (10 Sep 2024): -0.5%
Calendar-year returns
Category averageShow as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 4.6% | +1.4 pts | 3.2% |
Returns over one year are annualised. Shorter periods are absolute.
Costs & terms
Costs and terms
What the fund charges each year, and the rules around putting money in and taking it out.
Costs
2.44%
Expense ratio as on 5 Nov 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.91%
- Brokerage
- 0.08%
- Transaction charges
- 0.00%
- Statutory levies
- 0.45%
- Exit load
- Exit load of 0.50%, if redeemed within 30 days.
- Lock-in
- None
Terms
- Min SIP
- ₹3,000
- Min lumpsum
- ₹5,000
- Plan
- GROWTH
- Fund type
- OPEN-ENDED
- Benchmark
- NIFTY 500 TRI
- Short-term capital gains
- Returns taxed at 20% if you redeem before 1 year
- Long-term capital gains
- After 1 year, returns above ₹1.25 lakh in a financial year are taxed at 12.5%
Risk
Risk
What the riskometer means for this fund, and how its ratios sit against the category.
Your principal is treated as being at very high risk — typically small cap, sectoral and thematic equity schemes.
Portfolio
Bandhan Business Cycle Fund portfolio
Portfolio as of 30 Sep 2026
Asset allocation
- Equity99.6%
- Debt0.0%
- Other0.4%
Market cap split
- Large57.5%
- Mid22.8%
- Small19.7%
- P/E
- 19.95
- P/B
- 2.40
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Axis Bank Ltd. | Financial | 5.34% | ₹53.50 Cr | +5.20% | +4.97% | +4.22% |
| HDFC Bank Ltd. | Financial | 5.28% | ₹52.94 Cr | +4.98% | +5.05% | +5.55% |
| Reliance Industries Ltd. | Energy | 4.51% | ₹45.21 Cr | +4.17% | +3.06% | +1.90% |
| ICICI Bank Ltd. | Financial | 4.16% | ₹41.72 Cr | +4.25% | +2.43% | +0.58% |
| Bharti Airtel Ltd. | Communication | 3.63% | ₹36.39 Cr | +3.44% | +3.67% | +2.72% |
| Bajaj Finance Ltd. | Financial | 3.61% | ₹36.22 Cr | +3.28% | +2.90% | +2.97% |
| One 97 Communications Ltd. | Services | 3.35% | ₹33.54 Cr | +2.75% | +2.55% | +2.26% |
| NTPC Ltd. | Energy | 3.28% | ₹32.90 Cr | +2.88% | +3.30% | +2.30% |
| Larsen & Toubro Ltd. | Construction | 3.03% | ₹30.42 Cr | +3.12% | +3.03% | +2.40% |
| Kotak Mahindra Bank Ltd. | Financial | 2.71% | ₹27.13 Cr | +2.27% | +1.64% | +2.09% |
| Infosys Ltd. | Technology | 2.64% | ₹26.48 Cr | +2.40% | +3.38% | +3.04% |
| State Bank of India | Financial | 2.50% | ₹25.02 Cr | +2.40% | +2.41% | +2.07% |
| Ultratech Cement Ltd. | Materials | 2.07% | ₹20.74 Cr | +1.45% | +1.33% | +1.08% |
| ACME Solar Holdings Ltd. | Energy | 2.03% | ₹20.40 Cr | +1.79% | +1.46% | +1.29% |
| IDFC First Bank Ltd. | Financial | 2.02% | ₹20.23 Cr | +1.60% | +1.41% | +1.46% |
| City Union Bank Ltd. | Financial | 1.76% | ₹17.61 Cr | +1.87% | +1.66% | +1.74% |
| Adani Ports and Special Economic Zone Ltd. | Services | 1.72% | ₹17.29 Cr | +1.69% | +1.36% | +1.11% |
| Sundaram - Clayton Dcd Ltd. | Financial | 1.60% | ₹16.06 Cr | +1.56% | +1.52% | +1.65% |
| Fortis Healthcare Ltd. | Healthcare | 1.56% | ₹15.62 Cr | +1.66% | +1.55% | +1.52% |
| Interglobe Aviation Ltd. | Services | 1.54% | ₹15.43 Cr | +1.59% | +1.73% | +1.85% |
| PTC India Financial Services Ltd. | Financial | 1.36% | ₹13.60 Cr | +1.23% | +1.02% | +1.05% |
| Mphasis Ltd. | Technology | 1.33% | ₹13.38 Cr | +1.23% | +1.48% | +1.11% |
| Tata Consultancy Services Ltd. | Technology | 1.32% | ₹13.22 Cr | +1.18% | +1.66% | +1.73% |
| Tata Power Company Ltd. | Energy | 1.27% | ₹12.71 Cr | +0.91% | +0.98% | — |
| Piramal Finance Ltd. | Financial | 1.18% | ₹11.81 Cr | — | — | — |
| Fusion Finance Ltd. | Financial | 1.14% | ₹11.46 Cr | +1.07% | +0.90% | — |
| Aurobindo Pharma Ltd. | Healthcare | 1.13% | ₹11.33 Cr | +0.94% | +1.02% | +0.81% |
| Coromandel International Ltd. | Chemicals | 1.11% | ₹11.17 Cr | +1.60% | +1.90% | +1.51% |
| Bharat Electronics Ltd. | Capital Goods | 1.04% | ₹10.46 Cr | +1.00% | +0.77% | +0.69% |
| UPL Ltd. | Chemicals | 1.04% | ₹10.41 Cr | +1.04% | +1.24% | +1.06% |
| Maruti Suzuki India Ltd. | Automobile | 0.99% | ₹9.96 Cr | +1.05% | +1.10% | +1.32% |
| Ujjivan Small Finance Bank Ltd. | Financial | 0.97% | ₹9.76 Cr | +1.21% | +0.48% | — |
| Shriram Finance Ltd | Financial | 0.96% | ₹9.63 Cr | +1.02% | +1.35% | +0.90% |
| Bank of India | Financial | 0.92% | ₹9.23 Cr | — | — | — |
| The Phoenix Mills Ltd. | Construction | 0.91% | ₹9.08 Cr | +0.73% | +0.65% | +0.31% |
| GMR Airports Ltd. | Construction | 0.90% | ₹8.98 Cr | +1.04% | +0.71% | +0.69% |
| Orient Cables (India) Ltd. | Capital Goods | 0.90% | ₹9.00 Cr | — | — | — |
| Varun Beverages Ltd. | Consumer Staples | 0.90% | ₹8.99 Cr | +0.85% | +0.77% | +0.38% |
| HDFC Life Insurance Co Ltd. | Insurance | 0.85% | ₹8.55 Cr | +0.75% | +0.24% | — |
| KEC International Ltd. | Capital Goods | 0.83% | ₹8.28 Cr | +1.02% | +1.11% | +1.43% |
| Epigral Ltd. | Chemicals | 0.81% | ₹8.08 Cr | +0.76% | +0.63% | +1.00% |
| Metropolis Healthcare Ltd. | Healthcare | 0.78% | ₹7.78 Cr | +0.88% | +0.82% | +0.73% |
| SBI Life Insurance Company Ltd. | Insurance | 0.78% | ₹7.82 Cr | +0.66% | +0.73% | +1.15% |
| Torrent Power Ltd. | Energy | 0.77% | ₹7.74 Cr | +0.74% | +0.67% | +0.72% |
| Tata Technologies Ltd | Services | 0.74% | ₹7.45 Cr | +0.64% | +0.53% | +0.54% |
| FSN E-Commerce Ventures Ltd. | Services | 0.73% | ₹7.36 Cr | +0.65% | — | — |
| Cipla Ltd. | Healthcare | 0.71% | ₹7.14 Cr | +0.96% | +1.42% | +1.51% |
| Swiggy Ltd. | Services | 0.71% | ₹7.09 Cr | +0.77% | +0.93% | +1.47% |
| Can Fin Homes Ltd. | Financial | 0.69% | ₹6.96 Cr | +0.77% | +1.10% | +1.60% |
| Glenmark Pharmaceuticals Ltd. | Healthcare | 0.69% | ₹6.89 Cr | +0.47% | — | — |
| Indusind Bank Ltd. | Financial | 0.68% | ₹6.85 Cr | +0.62% | +0.89% | +0.94% |
| Vedanta Ltd. | Metals & Mining | 0.67% | ₹6.75 Cr | +0.28% | +0.73% | +0.55% |
| NTPC Green Energy Ltd. | Energy | 0.65% | ₹6.56 Cr | +0.68% | +0.73% | +0.74% |
| United Spirits Ltd. | Consumer Staples | 0.63% | ₹6.29 Cr | +0.57% | — | — |
| Jindal Saw Ltd. | Metals & Mining | 0.60% | ₹5.99 Cr | +0.51% | +0.39% | +0.62% |
| Garware Technical Fibres Ltd. | Textiles | 0.52% | ₹5.25 Cr | +0.44% | +0.37% | +0.27% |
| Arvind Fashions Ltd. | Textiles | 0.51% | ₹5.07 Cr | +0.76% | +0.72% | +0.69% |
| ICICI Lombard General Insurance Company Ltd. | Insurance | 0.51% | ₹5.13 Cr | — | — | — |
| Sharda Cropchem Ltd. | Chemicals | 0.51% | ₹5.08 Cr | +0.44% | — | — |
| Hero Motocorp Ltd. | Automobile | 0.50% | ₹4.99 Cr | +0.89% | +1.58% | +2.00% |
| Viyash Scientific Limited | Healthcare | 0.50% | ₹5.01 Cr | — | — | — |
| Divi's Laboratories Ltd. | Healthcare | 0.48% | ₹4.82 Cr | +0.71% | +0.59% | — |
| GPT Infraprojects Ltd. | Construction | 0.48% | ₹4.78 Cr | +0.45% | +0.36% | +0.29% |
| ideaForge Technology Ltd. | Capital Goods | 0.45% | ₹4.53 Cr | — | — | — |
| CG Power and Industrial Solutions Ltd. | Capital Goods | 0.44% | ₹4.37 Cr | +0.44% | +0.58% | +0.54% |
| Whirlpool Of India Ltd. | Consumer Discretionary | 0.43% | ₹4.35 Cr | — | — | — |
| Others | Others | 0.42% | ₹4.37 Cr | +1.23% | +1.35% | +0.37% |
| KNR Constructions Ltd. | Construction | 0.42% | ₹4.24 Cr | +0.42% | +0.39% | +0.53% |
| JSW Energy Ltd. | Capital Goods | 0.39% | ₹3.93 Cr | +0.40% | +0.56% | +0.76% |
| Power Mech Projects Ltd. | Construction | 0.39% | ₹3.95 Cr | +0.97% | +0.89% | +1.00% |
| TeamLease Services Ltd. | Services | 0.36% | ₹3.62 Cr | +0.46% | +0.40% | +0.45% |
| Cohance Lifesciences Ltd. | Healthcare | 0.35% | ₹3.56 Cr | +0.16% | +0.09% | +0.48% |
| Vedanta Power Ltd | Capital Goods | 0.35% | ₹3.49 Cr | +0.37% | — | — |
| Ambuja Cements Ltd. | Materials | 0.32% | ₹3.18 Cr | +0.31% | +0.38% | — |
| SBI Cards And Payment Services Ltd. | Financial | 0.29% | ₹2.88 Cr | — | — | — |
| Amara Raja Energy & Mobility Ltd | Capital Goods | 0.26% | ₹2.59 Cr | +0.25% | — | — |
| Angel One Ltd. | Financial | 0.26% | ₹2.60 Cr | +0.34% | +0.36% | +0.32% |
| Dr. Reddy's Laboratories Ltd. | Healthcare | 0.25% | ₹2.51 Cr | — | — | — |
| Shiprocket Ltd. | Technology | 0.25% | ₹2.53 Cr | — | — | — |
| Dalmia Bharat Ltd. | Materials | 0.20% | ₹1.96 Cr | +0.17% | +0.10% | — |
| Gokaldas Exports Ltd. | Textiles | 0.09% | ₹0.86 Cr | — | — | — |
| Page Industries Ltd. | Textiles | 0.04% | ₹0.36 Cr | — | — | — |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Tega Industries Ltd. | 1.07% | 0.00% | -1.07% |
| Orient Cables (India) Ltd. | 0.00% | 0.90% | +0.90% |
| HDFC Bank Ltd. | 4.56% | 5.28% | +0.72% |
| General Insurance Corporation of India | 0.48% | 0.00% | -0.48% |
| Hero Motocorp Ltd. | 0.94% | 0.50% | -0.44% |
| Whirlpool Of India Ltd. | 0.00% | 0.43% | +0.43% |
| PNC Infratech Ltd. | 0.42% | 0.00% | -0.42% |
| One 97 Communications Ltd. | 3.74% | 3.35% | -0.39% |
| Wipro Ltd. | 0.33% | 0.00% | -0.33% |
| ACME Solar Holdings Ltd. | 1.73% | 2.03% | +0.30% |
| SBI Cards And Payment Services Ltd. | 0.00% | 0.29% | +0.29% |
| Adani Ports and Special Economic Zone Ltd. | 1.44% | 1.72% | +0.28% |
| Aditya Birla Sun Life AMC Ltd. | 0.28% | 0.00% | -0.28% |
| Dr. Reddy's Laboratories Ltd. | 0.00% | 0.25% | +0.25% |
| Thirumalai Chemicals Ltd. | 0.23% | 0.00% | -0.23% |
| Shiprocket Ltd. | 0.48% | 0.25% | -0.23% |
| PTC India Financial Services Ltd. | 1.15% | 1.36% | +0.21% |
| Excelsoft Technologies Ltd. | 0.21% | 0.00% | -0.21% |
| Arvind Fashions Ltd. | 0.71% | 0.51% | -0.20% |
| NTPC Ltd. | 3.08% | 3.28% | +0.20% |
| Larsen & Toubro Ltd. | 3.22% | 3.03% | -0.19% |
| Bajaj Finserv Ltd. | 0.19% | 0.00% | -0.19% |
| Cohance Lifesciences Ltd. | 0.17% | 0.35% | +0.18% |
| Bharti Airtel Ltd. | 3.45% | 3.63% | +0.18% |
| ICICI Lombard General Insurance Company Ltd. | 0.35% | 0.51% | +0.16% |
| Infosys Ltd. | 2.80% | 2.64% | -0.16% |
| Tata Power Company Ltd. | 1.13% | 1.27% | +0.14% |
| Metropolis Healthcare Ltd. | 0.92% | 0.78% | -0.14% |
| Vedanta Ltd. | 0.54% | 0.67% | +0.13% |
| Fortis Healthcare Ltd. | 1.69% | 1.56% | -0.13% |
| ICICI Bank Ltd. | 4.28% | 4.16% | -0.12% |
| Glenmark Pharmaceuticals Ltd. | 0.57% | 0.69% | +0.12% |
| Varun Beverages Ltd. | 0.78% | 0.90% | +0.12% |
| Tata Consultancy Services Ltd. | 1.44% | 1.32% | -0.12% |
| Kotak Mahindra Bank Ltd. | 2.61% | 2.71% | +0.10% |
| Brigade Enterprises Ltd. | 0.10% | 0.00% | -0.10% |
| The Phoenix Mills Ltd. | 0.81% | 0.91% | +0.10% |
| Gokaldas Exports Ltd. | 0.00% | 0.09% | +0.09% |
| Reliance Industries Ltd. | 4.42% | 4.51% | +0.09% |
| Axis Bank Ltd. | 5.26% | 5.34% | +0.08% |
| GMR Airports Ltd. | 0.82% | 0.90% | +0.08% |
| SBI Life Insurance Company Ltd. | 0.70% | 0.78% | +0.08% |
| Torrent Power Ltd. | 0.69% | 0.77% | +0.08% |
| Epigral Ltd. | 0.89% | 0.81% | -0.08% |
| Tata Technologies Ltd | 0.82% | 0.74% | -0.08% |
| Mphasis Ltd. | 1.41% | 1.33% | -0.08% |
| GPT Infraprojects Ltd. | 0.41% | 0.48% | +0.07% |
| HDFC Life Insurance Co Ltd. | 0.78% | 0.85% | +0.07% |
| Ultratech Cement Ltd. | 2.00% | 2.07% | +0.07% |
| City Union Bank Ltd. | 1.82% | 1.76% | -0.06% |
| Maruti Suzuki India Ltd. | 1.05% | 0.99% | -0.06% |
| NTPC Green Energy Ltd. | 0.59% | 0.65% | +0.06% |
| Piramal Finance Ltd. | 1.24% | 1.18% | -0.06% |
| State Bank of India | 2.56% | 2.50% | -0.06% |
| Fusion Finance Ltd. | 1.19% | 1.14% | -0.05% |
| Shriram Finance Ltd | 1.01% | 0.96% | -0.05% |
| Angel One Ltd. | 0.31% | 0.26% | -0.05% |
| Aurobindo Pharma Ltd. | 1.08% | 1.13% | +0.05% |
| Bajaj Finance Ltd. | 3.65% | 3.61% | -0.04% |
| Bank of India | 0.88% | 0.92% | +0.04% |
| IDFC First Bank Ltd. | 1.98% | 2.02% | +0.04% |
| Interglobe Aviation Ltd. | 1.50% | 1.54% | +0.04% |
| Page Industries Ltd. | 0.00% | 0.04% | +0.04% |
| Can Fin Homes Ltd. | 0.72% | 0.69% | -0.03% |
| Indusind Bank Ltd. | 0.65% | 0.68% | +0.03% |
| Sundaram - Clayton Dcd Ltd. | 1.57% | 1.60% | +0.03% |
| Swiggy Ltd. | 0.74% | 0.71% | -0.03% |
| UPL Ltd. | 1.01% | 1.04% | +0.03% |
| Divi's Laboratories Ltd. | 0.45% | 0.48% | +0.03% |
| Power Mech Projects Ltd. | 0.42% | 0.39% | -0.03% |
| Coromandel International Ltd. | 1.14% | 1.11% | -0.03% |
| Amara Raja Energy & Mobility Ltd | 0.28% | 0.26% | -0.02% |
| FSN E-Commerce Ventures Ltd. | 0.75% | 0.73% | -0.02% |
| Garware Technical Fibres Ltd. | 0.50% | 0.52% | +0.02% |
| Jindal Saw Ltd. | 0.62% | 0.60% | -0.02% |
| Sharda Cropchem Ltd. | 0.49% | 0.51% | +0.02% |
| TeamLease Services Ltd. | 0.38% | 0.36% | -0.02% |
| Ujjivan Small Finance Bank Ltd. | 0.95% | 0.97% | +0.02% |
| United Spirits Ltd. | 0.65% | 0.63% | -0.02% |
| KNR Constructions Ltd. | 0.40% | 0.42% | +0.02% |
| Ambuja Cements Ltd. | 0.31% | 0.32% | +0.01% |
| Cipla Ltd. | 0.70% | 0.71% | +0.01% |
| JSW Energy Ltd. | 0.38% | 0.39% | +0.01% |
| KEC International Ltd. | 0.84% | 0.83% | -0.01% |
| Viyash Scientific Limited | 0.51% | 0.50% | -0.01% |
| Vedanta Power Ltd | 0.34% | 0.35% | +0.01% |
| Others | 0.00% | 0.01% | +0.01% |
| Cholamandalam Financial Holdings Ltd. | 0.00% | 0.00% | 0.00% |
| IIFL Finance Ltd. | 0.00% | 0.00% | 0.00% |
| Bharat Electronics Ltd. | 1.04% | 1.04% | 0.00% |
| CG Power and Industrial Solutions Ltd. | 0.44% | 0.44% | 0.00% |
| Dalmia Bharat Ltd. | 0.20% | 0.20% | 0.00% |
| ideaForge Technology Ltd. | 0.45% | 0.45% | 0.00% |
Compare
Similar funds
The rest of the category, so this fund’s numbers have something to sit against.
| Fund | AUM | Expense | 1Y | 3Y | 5Y |
|---|---|---|---|---|---|
| Category average | ₹6,105 Cr | 2.13% | 6.1% | 8.3% | 14.9% |
| ₹14,889 Cr | 1.86% | 3.5% | 6.8% | 13.3% | |
| ₹9,577 Cr | 2.08% | -0.7% | 5.4% | 15.7% | |
| ₹3,414 Cr | 2.02% | 13.8% | 10.7% | — | |
| ₹1,357 Cr | 2.26% | 14.0% | 13.2% | 15.6% | |
| ₹1,291 Cr | 2.42% | -0.1% | 5.3% | — |
About
About this fund
The scheme’s own words, its benchmark and the people running it.
Investment objective
The scheme seeks to generate long-term capital appreciation by investing predominantly in equity and equity-related instruments with a focus on riding business cycles through dynamic allocation between various sectors and stocks at different stages of business cycles in the economy.
Fund managers
- Harshal JoshiMr. Joshi is PGDBM from N.L. Dalmia Institute of Management Studies and Research, MumbaiPrior to joining Bandhan Mutual Fund (formerly IDFC Mutual Fund) in 2008 he has worked with ICAP India Pvt. Ltd.
- Ritika BeheraMs. Behera has done B.Com and MBA (Finance)Prior to Bandhan AMC Limited, she was associated with Ocean Dial Asset Management, Elara Securities Pvt Ltd. and Batlivala & Karani Securities Pvt Ltd.
- Vishal BiraiaMr. Biraia has done B.E and CFAPrior to joining Bandhan Mutual Fund, he has worked with Max Life Insurance Company Ltd, Aviva India, Antique Stock Broking Ltd, Emkay Global Financial Services Ltd and Batlivala & Karani Securities India Pvt. Ltd.
Tools
Return calculator
What ₹10,000 a month in this fund would have grown to over each period, based on its past returns.
| Over the past | Total investment | Would’ve become | Growth | Returns |
|---|---|---|---|---|
| 6 months1.74% absolute | ₹60,000 | ₹61,044 | 1.74% | |
| 1 year−2.51% annualised | ₹1,20,000 | ₹1,18,381 | −1.35% |
Returns for 1 year and longer are annualised (CAGR); 6-month figures are absolute. Past returns are not a forecast.
How this is calculated
Each monthly instalment grows at the fund’s annualised return ÷ 12 per month until the end of the period, the same formula as our SIP calculator.
The amount compounds once a year at the fund’s CAGR for that period, the same formula as our lumpsum calculator.
Questions
Frequently asked questions
The things people ask about this scheme.