Bandhan Business Cycle Fund
- NAV as on 25 Sep 2026
- ₹9.55+0.14%1 day
- Return since launch
- -2.4%
- 52-week range
- ₹8.48 — ₹10.35
- AUM
- ₹1,100 Cr
Bandhan Business Cycle Fund is a Equity Opportunities equity fund from Bandhan Mutual Fund with ₹1,100 Cr under management, launched in 2024. The expense ratio is 2.43% 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 -2.6% against +0.2% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | -3.7% | −9.8 pts | 6.1% | 1.5% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | -3.8% | −1.5 pts | -2.3% | -2.6% |
| 3M | -1.4% | −3.4 pts | 2.0% | 0.9% |
| 6M | 9.4% | −6.4 pts | 15.8% | 12.8% |
| 1Y | -2.7% | −8.8 pts | 6.1% | 0.1% |
Since launch (10 Sep 2024): -2.4%
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
2.46%
Expense ratio as on 24 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.92%
- Brokerage
- 0.08%
- Transaction charges
- 0.00%
- Statutory levies
- 0.46%
- 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 31 Aug 2026
Asset allocation
- Equity99.9%
- Debt0.0%
- Other0.1%
Market cap split
- Large55.8%
- Mid22.8%
- Small21.4%
- P/E
- 21.07
- P/B
- 2.53
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Axis Bank Ltd. | Financial | 5.26% | ₹57.88 Cr | +5.03% | +5.08% | +3.97% |
| HDFC Bank Ltd. | Financial | 4.56% | ₹50.17 Cr | +4.69% | +5.78% | +5.67% |
| Reliance Industries Ltd. | Energy | 4.42% | ₹48.64 Cr | +3.87% | +2.29% | +1.93% |
| ICICI Bank Ltd. | Financial | 4.28% | ₹47.06 Cr | +3.44% | +2.38% | +0.61% |
| One97 Communications Ltd. | Services | 3.74% | ₹41.11 Cr | +2.71% | +2.50% | +2.32% |
| Bajaj Finance Ltd. | Financial | 3.65% | ₹40.10 Cr | +3.00% | +3.09% | +2.76% |
| Bharti Airtel Ltd. | Communication | 3.45% | ₹37.91 Cr | +3.43% | +3.32% | +2.43% |
| Larsen & Toubro Ltd. | Construction | 3.22% | ₹35.40 Cr | +3.10% | +3.43% | +2.41% |
| NTPC Ltd. | Energy | 3.08% | ₹33.88 Cr | +3.14% | +2.91% | +2.26% |
| Infosys Ltd. | Technology | 2.80% | ₹30.82 Cr | +2.82% | +3.01% | +3.16% |
| Kotak Mahindra Bank Ltd. | Financial | 2.61% | ₹28.76 Cr | +1.89% | +1.66% | +1.79% |
| State Bank of India | Financial | 2.56% | ₹28.20 Cr | +2.28% | +3.05% | +1.95% |
| Ultratech Cement Ltd. | Materials | 2.00% | ₹22.00 Cr | +1.49% | +1.35% | +1.14% |
| IDFC First Bank Ltd. | Financial | 1.98% | ₹21.79 Cr | +1.45% | +1.51% | +1.45% |
| City Union Bank Ltd. | Financial | 1.82% | ₹20.04 Cr | +1.61% | +1.95% | +1.85% |
| ACME Solar Holdings Ltd. | Energy | 1.73% | ₹19.06 Cr | +1.27% | +1.27% | +1.46% |
| Fortis Healthcare Ltd. | Healthcare | 1.69% | ₹18.58 Cr | +1.66% | +1.58% | +1.74% |
| Sundaram - Clayton Dcd Ltd. | Financial | 1.57% | ₹17.23 Cr | +1.53% | +1.55% | +1.64% |
| Interglobe Aviation Ltd. | Services | 1.50% | ₹16.54 Cr | +1.36% | +1.81% | +1.89% |
| Adani Ports and Special Economic Zone Ltd. | Services | 1.44% | ₹15.86 Cr | +1.70% | +1.35% | +1.49% |
| Tata Consultancy Services Ltd. | Technology | 1.44% | ₹15.86 Cr | +1.33% | +1.59% | +1.87% |
| Mphasis Ltd. | Technology | 1.41% | ₹15.46 Cr | +1.31% | +1.42% | +1.18% |
| company:896 | Financial | 1.24% | ₹13.63 Cr | — | — | — |
| Fusion Finance Ltd. | Financial | 1.19% | ₹13.11 Cr | +1.01% | +0.80% | — |
| PTC India Financial Services Ltd. | Financial | 1.15% | ₹12.64 Cr | +1.21% | +1.12% | +1.14% |
| Coromandel International Ltd. | Chemicals | 1.14% | ₹12.57 Cr | +1.42% | +1.69% | +1.56% |
| Tata Power Company Ltd. | Energy | 1.13% | ₹12.47 Cr | +1.00% | — | — |
| Aurobindo Pharma Ltd. | Healthcare | 1.08% | ₹11.87 Cr | +0.86% | +0.82% | +0.69% |
| Tega Industries Ltd. | Metals & Mining | 1.07% | ₹11.81 Cr | +1.10% | +1.06% | — |
| Maruti Suzuki India Ltd. | Automobile | 1.05% | ₹11.50 Cr | +0.98% | +1.14% | +1.24% |
| Bharat Electronics Ltd. | Capital Goods | 1.04% | ₹11.45 Cr | +1.01% | +0.73% | +0.65% |
| Shriram Finance Ltd | Financial | 1.01% | ₹11.16 Cr | +1.34% | +1.43% | +0.87% |
| UPL Ltd. | Chemicals | 1.01% | ₹11.07 Cr | +1.08% | +1.26% | +0.96% |
| Ujjivan Small Finance Bank Ltd. | Financial | 0.95% | ₹10.46 Cr | +0.69% | +0.22% | — |
| Hero Motocorp Ltd. | Automobile | 0.94% | ₹10.39 Cr | +0.97% | +1.53% | +1.89% |
| Metropolis Healthcare Ltd. | Healthcare | 0.92% | ₹10.13 Cr | +0.96% | +0.77% | +0.80% |
| Epigral Ltd. | Chemicals | 0.89% | ₹9.80 Cr | +0.82% | +0.59% | +1.08% |
| Bank of India | Financial | 0.88% | ₹9.66 Cr | — | — | — |
| KEC International Ltd. | Capital Goods | 0.84% | ₹9.19 Cr | +0.99% | +1.09% | +1.25% |
| GMR Airports Ltd. | Construction | 0.82% | ₹9.02 Cr | +0.88% | +0.72% | +0.61% |
| Tata Technologies Ltd | Services | 0.82% | ₹8.98 Cr | +0.67% | +0.52% | +0.54% |
| The Phoenix Mills Ltd. | Construction | 0.81% | ₹8.96 Cr | +0.71% | +0.61% | — |
| HDFC Life Insurance Co Ltd. | Insurance | 0.78% | ₹8.53 Cr | +0.78% | +0.25% | — |
| Varun Beverages Ltd. | Consumer Staples | 0.78% | ₹8.62 Cr | +0.68% | +0.77% | +0.43% |
| FSN E-Commerce Ventures Ltd. | Services | 0.75% | ₹8.24 Cr | +0.55% | — | — |
| Swiggy Ltd. | Services | 0.74% | ₹8.16 Cr | +0.84% | +0.92% | +1.65% |
| Can Fin Homes Ltd. | Financial | 0.72% | ₹7.90 Cr | +0.81% | +1.17% | +1.54% |
| Arvind Fashions Ltd. | Textiles | 0.71% | ₹7.81 Cr | +0.75% | +0.65% | +0.70% |
| Cipla Ltd. | Healthcare | 0.70% | ₹7.67 Cr | +0.92% | +1.34% | +1.63% |
| SBI Life Insurance Company Ltd. | Insurance | 0.70% | ₹7.65 Cr | +0.69% | +0.80% | +1.18% |
| Torrent Power Ltd. | Energy | 0.69% | ₹7.58 Cr | +0.72% | +1.05% | +0.74% |
| Indusind Bank Ltd. | Financial | 0.65% | ₹7.14 Cr | +0.68% | +0.98% | +0.96% |
| United Spirits Ltd. | Consumer Staples | 0.65% | ₹7.15 Cr | +0.55% | — | — |
| Jindal Saw Ltd. | Metals & Mining | 0.62% | ₹6.85 Cr | +0.48% | +0.34% | +0.62% |
| NTPC Green Energy Ltd. | Energy | 0.59% | ₹6.45 Cr | +0.74% | +0.75% | +0.80% |
| Glenmark Pharmaceuticals Ltd. | Healthcare | 0.57% | ₹6.32 Cr | +0.25% | — | — |
| Vedanta Ltd. | Metals & Mining | 0.54% | ₹5.99 Cr | +0.36% | +0.69% | +0.51% |
| company:6832 | Healthcare | 0.51% | ₹5.60 Cr | — | — | — |
| Garware Technical Fibres Ltd. | Textiles | 0.50% | ₹5.54 Cr | +0.38% | +0.33% | — |
| Sharda Cropchem Ltd. | Chemicals | 0.49% | ₹5.38 Cr | +0.45% | — | — |
| General Insurance Corporation of India | Insurance | 0.48% | ₹5.29 Cr | — | — | — |
| company:20795 | Technology | 0.48% | ₹5.27 Cr | — | — | — |
| Divi's Laboratories Ltd. | Healthcare | 0.45% | ₹4.96 Cr | +0.60% | +0.54% | — |
| ideaForge Technology Ltd. | Capital Goods | 0.45% | ₹4.98 Cr | — | — | — |
| CG Power and Industrial Solutions Ltd. | Capital Goods | 0.44% | ₹4.80 Cr | +0.43% | +0.55% | +0.56% |
| PNC Infratech Ltd. | Construction | 0.42% | ₹4.60 Cr | +0.43% | +0.71% | +0.99% |
| Power Mech Projects Ltd. | Construction | 0.42% | ₹4.60 Cr | +0.97% | +0.91% | +1.13% |
| GPT Infraprojects Ltd. | Construction | 0.41% | ₹4.47 Cr | +0.39% | +0.39% | +0.29% |
| KNR Constructions Ltd. | Construction | 0.40% | ₹4.44 Cr | +0.40% | +0.40% | +0.52% |
| JSW Energy Ltd. | Capital Goods | 0.38% | ₹4.19 Cr | +0.42% | +0.73% | +0.72% |
| TeamLease Services Ltd. | Services | 0.38% | ₹4.15 Cr | +0.44% | +0.37% | +0.46% |
| ICICI Lombard General Insurance Company Ltd. | Insurance | 0.35% | ₹3.82 Cr | — | — | — |
| Vedanta Power Ltd | Capital Goods | 0.34% | ₹3.77 Cr | +0.12% | — | — |
| Wipro Ltd. | Technology | 0.33% | ₹3.63 Cr | +0.71% | +1.39% | +1.28% |
| Ambuja Cements Ltd. | Materials | 0.31% | ₹3.43 Cr | +0.33% | +0.40% | — |
| Angel One Ltd. | Financial | 0.31% | ₹3.38 Cr | +0.38% | +0.32% | +0.34% |
| Aditya Birla Sun Life AMC Ltd. | Financial | 0.28% | ₹3.06 Cr | — | — | — |
| Amara Raja Energy & Mobility Ltd | Capital Goods | 0.28% | ₹3.10 Cr | — | — | — |
| Thirumalai Chemicals Ltd. | Chemicals | 0.23% | ₹2.57 Cr | +0.62% | +0.53% | — |
| Excelsoft Technologies Ltd. | Technology | 0.21% | ₹2.30 Cr | +0.30% | +0.27% | — |
| Dalmia Bharat Ltd. | Materials | 0.20% | ₹2.20 Cr | +0.09% | +0.10% | — |
| Bajaj Finserv Ltd. | Financial | 0.19% | ₹2.04 Cr | +0.19% | — | — |
| Cohance Lifesciences Ltd. | Healthcare | 0.17% | ₹1.88 Cr | +0.12% | +0.23% | +0.48% |
| Others | Others | 0.11% | ₹1.03 Cr | +1.25% | +1.17% | +0.39% |
| company:9161 | Construction | 0.10% | ₹1.06 Cr | — | — | — |
| Cholamandalam Financial Holdings Ltd. | Financial | 0.00% | ₹0.04 Cr | — | — | — |
| IIFL Finance Ltd. | Financial | 0.00% | ₹0.00 Cr | +0.88% | +1.09% | +0.34% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| company:896 | 0.00% | 1.24% | +1.24% |
| Wipro Ltd. | 0.98% | 0.33% | -0.65% |
| Ultratech Cement Ltd. | 1.45% | 2.00% | +0.55% |
| One97 Communications Ltd. | 3.21% | 3.74% | +0.53% |
| Godrej Properties Ltd. | 0.52% | 0.00% | -0.52% |
| company:6832 | 0.00% | 0.51% | +0.51% |
| Cummins India Ltd. | 0.48% | 0.00% | -0.48% |
| company:20795 | 0.00% | 0.48% | +0.48% |
| Axis Bank Ltd. | 4.78% | 5.26% | +0.48% |
| Adani Enterprises Ltd. | 0.45% | 0.00% | -0.45% |
| Power Mech Projects Ltd. | 0.85% | 0.42% | -0.43% |
| General Insurance Corporation of India | 0.89% | 0.48% | -0.41% |
| PB Fintech Ltd. | 0.41% | 0.00% | -0.41% |
| Life Insurance Corporation of India | 0.32% | 0.00% | -0.32% |
| Thirumalai Chemicals Ltd. | 0.54% | 0.23% | -0.31% |
| Titan Company Ltd. | 0.28% | 0.00% | -0.28% |
| Bank of India | 0.61% | 0.88% | +0.27% |
| Kotak Mahindra Bank Ltd. | 2.34% | 2.61% | +0.27% |
| Vedanta Ltd. | 0.27% | 0.54% | +0.27% |
| Hindustan Zinc Ltd. | 0.23% | 0.00% | -0.23% |
| Bharti Airtel Ltd. | 3.68% | 3.45% | -0.23% |
| Larsen & Toubro Ltd. | 2.99% | 3.22% | +0.23% |
| ICICI Bank Ltd. | 4.47% | 4.28% | -0.19% |
| United Breweries Ltd. | 0.18% | 0.00% | -0.18% |
| Coromandel International Ltd. | 1.31% | 1.14% | -0.17% |
| City Union Bank Ltd. | 1.67% | 1.82% | +0.15% |
| Kirloskar Brothers Ltd. | 0.15% | 0.00% | -0.15% |
| State Bank of India | 2.42% | 2.56% | +0.14% |
| HDFC Bank Ltd. | 4.69% | 4.56% | -0.13% |
| Aurobindo Pharma Ltd. | 0.96% | 1.08% | +0.12% |
| Bajaj Finance Ltd. | 3.77% | 3.65% | -0.12% |
| Jindal Saw Ltd. | 0.50% | 0.62% | +0.12% |
| Sundaram - Clayton Dcd Ltd. | 1.46% | 1.57% | +0.11% |
| Tega Industries Ltd. | 0.96% | 1.07% | +0.11% |
| Epigral Ltd. | 0.78% | 0.89% | +0.11% |
| Tata Technologies Ltd | 0.71% | 0.82% | +0.11% |
| PNC Infratech Ltd. | 0.52% | 0.42% | -0.10% |
| company:9161 | 0.00% | 0.10% | +0.10% |
| Bharat Electronics Ltd. | 0.95% | 1.04% | +0.09% |
| The Phoenix Mills Ltd. | 0.72% | 0.81% | +0.09% |
| Mphasis Ltd. | 1.32% | 1.41% | +0.09% |
| Others | 0.09% | 0.00% | -0.09% |
| KEC International Ltd. | 0.92% | 0.84% | -0.08% |
| Torrent Power Ltd. | 0.77% | 0.69% | -0.08% |
| Glenmark Pharmaceuticals Ltd. | 0.49% | 0.57% | +0.08% |
| Infosys Ltd. | 2.72% | 2.80% | +0.08% |
| Hero Motocorp Ltd. | 1.01% | 0.94% | -0.07% |
| Divi's Laboratories Ltd. | 0.38% | 0.45% | +0.07% |
| Garware Technical Fibres Ltd. | 0.43% | 0.50% | +0.07% |
| Adani Ports and Special Economic Zone Ltd. | 1.50% | 1.44% | -0.06% |
| GMR Airports Ltd. | 0.88% | 0.82% | -0.06% |
| IDFC First Bank Ltd. | 1.92% | 1.98% | +0.06% |
| Sharda Cropchem Ltd. | 0.43% | 0.49% | +0.06% |
| FSN E-Commerce Ventures Ltd. | 0.70% | 0.75% | +0.05% |
| Tata Consultancy Services Ltd. | 1.39% | 1.44% | +0.05% |
| SBFC Finance Ltd. | 0.05% | 0.00% | -0.05% |
| Metropolis Healthcare Ltd. | 0.97% | 0.92% | -0.05% |
| Reliance Industries Ltd. | 4.37% | 4.42% | +0.05% |
| HDFC Life Insurance Co Ltd. | 0.74% | 0.78% | +0.04% |
| Interglobe Aviation Ltd. | 1.46% | 1.50% | +0.04% |
| Tata Power Company Ltd. | 1.17% | 1.13% | -0.04% |
| Excelsoft Technologies Ltd. | 0.25% | 0.21% | -0.04% |
| CG Power and Industrial Solutions Ltd. | 0.40% | 0.44% | +0.04% |
| Varun Beverages Ltd. | 0.82% | 0.78% | -0.04% |
| PTC India Financial Services Ltd. | 1.11% | 1.15% | +0.04% |
| Aditya Birla Sun Life AMC Ltd. | 0.26% | 0.28% | +0.02% |
| Arvind Fashions Ltd. | 0.69% | 0.71% | +0.02% |
| Cipla Ltd. | 0.72% | 0.70% | -0.02% |
| Cohance Lifesciences Ltd. | 0.15% | 0.17% | +0.02% |
| Dalmia Bharat Ltd. | 0.18% | 0.20% | +0.02% |
| Fortis Healthcare Ltd. | 1.67% | 1.69% | +0.02% |
| Indusind Bank Ltd. | 0.63% | 0.65% | +0.02% |
| NTPC Green Energy Ltd. | 0.57% | 0.59% | +0.02% |
| SBI Life Insurance Company Ltd. | 0.72% | 0.70% | -0.02% |
| Shriram Finance Ltd | 1.03% | 1.01% | -0.02% |
| TeamLease Services Ltd. | 0.36% | 0.38% | +0.02% |
| UPL Ltd. | 1.03% | 1.01% | -0.02% |
| Bajaj Finserv Ltd. | 0.21% | 0.19% | -0.02% |
| ideaForge Technology Ltd. | 0.47% | 0.45% | -0.02% |
| ACME Solar Holdings Ltd. | 1.74% | 1.73% | -0.01% |
| Ambuja Cements Ltd. | 0.32% | 0.31% | -0.01% |
| JSW Energy Ltd. | 0.39% | 0.38% | -0.01% |
| KNR Constructions Ltd. | 0.39% | 0.40% | +0.01% |
| Maruti Suzuki India Ltd. | 1.06% | 1.05% | -0.01% |
| Ujjivan Small Finance Bank Ltd. | 0.94% | 0.95% | +0.01% |
| Vedanta Power Ltd | 0.33% | 0.34% | +0.01% |
| Cholamandalam Financial Holdings Ltd. | 0.00% | 0.00% | 0.00% |
| IIFL Finance Ltd. | 0.00% | 0.00% | 0.00% |
| Amara Raja Energy & Mobility Ltd | 0.28% | 0.28% | 0.00% |
| Angel One Ltd. | 0.31% | 0.31% | 0.00% |
| Can Fin Homes Ltd. | 0.72% | 0.72% | 0.00% |
| Fusion Finance Ltd. | 1.19% | 1.19% | 0.00% |
| GPT Infraprojects Ltd. | 0.41% | 0.41% | 0.00% |
| ICICI Lombard General Insurance Company Ltd. | 0.35% | 0.35% | 0.00% |
| NTPC Ltd. | 3.08% | 3.08% | 0.00% |
| Swiggy Ltd. | 0.74% | 0.74% | 0.00% |
| United Spirits Ltd. | 0.65% | 0.65% | 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 | ₹3,420 Cr | 2.23% | 8.6% | 9.7% | 15.9% |
| ₹9,717 Cr | 2.09% | 7.4% | 9.7% | 18.4% | |
| ₹3,509 Cr | 2.05% | 11.2% | 10.5% | — | |
| ₹1,364 Cr | 2.42% | 2.3% | 7.2% | — | |
| ₹1,279 Cr | 2.29% | 14.1% | 13.7% | 15.8% | |
| ₹1,229 Cr | 2.32% | 7.9% | 7.2% | 13.5% |
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 months9.38% absolute | ₹60,000 | ₹65,628 | 9.38% | |
| 1 year−2.66% annualised | ₹1,20,000 | ₹1,18,285 | −1.43% |
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.