DSP Business Cycle Fund
Equity OpportunitiesVery HighOPEN-ENDED
- NAV as on 25 Sep 2026
- ₹10.02+0.53%1 day
- Return since launch
- 0.1%
- 52-week range
- ₹9.27 — ₹10.60
- AUM
- ₹1,469 Cr
DSP Business Cycle Fund is a Equity Opportunities equity fund from DSP Mutual Fund with ₹1,469 Cr under management, launched in 2024. The expense ratio is 2.76% and the SEBI riskometer reading is Very High.
Performance
DSP Business Cycle Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned +1.0% 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 | -2.9% | −9.0 pts | 6.1% | 1.5% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | -4.1% | −1.8 pts | -2.3% | -2.6% |
| 3M | -3.1% | −5.1 pts | 2.0% | 0.9% |
| 6M | 5.6% | −10.1 pts | 15.8% | 12.8% |
| 1Y | 1.0% | −5.1 pts | 6.1% | 0.1% |
Since launch (27 Nov 2024): 0.1%
Calendar-year returns
Category average2.7%
Show as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 2.7% | −0.5 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
2.63%
Expense ratio as on 25 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.81%
- Brokerage
- 0.12%
- Transaction charges
- 0.01%
- Statutory levies
- 0.69%
- Exit load
- 0.5% for redemption within 1 Month
- 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.
Very High
Your principal is treated as being at very high risk — typically small cap, sectoral and thematic equity schemes.
Portfolio
DSP Business Cycle Fund portfolio
Portfolio as of 31 Aug 2026
Asset allocation
- Equity93.2%
- Other6.8%
Market cap split
- Large78.6%
- Mid16.0%
- Small5.5%
- P/E
- 21.82
- P/B
- 2.93
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Nifty 50 | Financial | 9.92% | ₹146 Cr | +8.87% | — | — |
| ICICI Bank Ltd. | Financial | 9.44% | ₹139 Cr | +8.48% | +2.66% | +2.77% |
| HDFC Bank Ltd. | Financial | 8.49% | ₹125 Cr | +9.28% | — | — |
| Others | Others | 6.78% | ₹99.43 Cr | +4.12% | -0.08% | +0.14% |
| Axis Bank Ltd. | Financial | 5.77% | ₹84.72 Cr | +7.19% | +5.48% | +4.26% |
| Bharti Airtel Ltd. | Communication | 4.60% | ₹67.54 Cr | +3.11% | +3.23% | +2.36% |
| Larsen & Toubro Ltd. | Construction | 4.20% | ₹61.67 Cr | +4.23% | — | — |
| Mahindra & Mahindra Ltd. | Automobile | 3.36% | ₹49.43 Cr | +3.93% | +4.43% | +4.29% |
| Reliance Industries Ltd. | Energy | 3.36% | ₹49.43 Cr | +3.27% | — | — |
| NTPC Ltd. | Energy | 2.76% | ₹40.56 Cr | +2.96% | +2.95% | +5.14% |
| Ultratech Cement Ltd. | Materials | 2.71% | ₹39.84 Cr | +2.88% | — | — |
| DLF Ltd. | Construction | 2.69% | ₹39.48 Cr | +2.89% | — | — |
| Asian Paints Ltd. | Materials | 2.63% | ₹38.67 Cr | +2.91% | — | — |
| Maruti Suzuki India Ltd. | Automobile | 2.51% | ₹36.88 Cr | +2.94% | — | — |
| Hero Motocorp Ltd. | Automobile | 2.27% | ₹33.34 Cr | +2.57% | — | — |
| HDFC Life Insurance Co Ltd. | Insurance | 1.69% | ₹24.78 Cr | +1.49% | — | — |
| Hyundai Motor India Ltd. | Automobile | 1.58% | ₹23.27 Cr | +1.57% | — | — |
| Voltas Ltd. | Consumer Discretionary | 1.33% | ₹19.48 Cr | +1.74% | +2.16% | +1.95% |
| Schaeffler India Ltd. | Capital Goods | 1.28% | ₹18.87 Cr | +1.66% | +1.51% | +1.38% |
| Page Industries Ltd. | Textiles | 1.18% | ₹17.30 Cr | — | — | — |
| Info Edge (India) Ltd. | Services | 1.16% | ₹16.97 Cr | +0.81% | — | — |
| Shree Cement Ltd. | Materials | 1.10% | ₹16.18 Cr | +1.30% | — | — |
| Power Grid Corporation Of India Ltd. | Energy | 1.06% | ₹15.53 Cr | — | — | +5.60% |
| company:5765 | Insurance | 1.01% | ₹14.91 Cr | — | — | — |
| Interglobe Aviation Ltd. | Services | 0.98% | ₹14.36 Cr | +0.74% | — | +0.77% |
| Multi Commodity Exchange Of India Ltd. | Services | 0.98% | ₹14.44 Cr | +1.08% | +3.68% | +4.17% |
| Nippon Life India Asset Management Ltd. | Financial | 0.88% | ₹12.96 Cr | +1.20% | +1.63% | +1.41% |
| Bharat Petroleum Corporation Ltd. | Energy | 0.87% | ₹12.82 Cr | +0.27% | — | — |
| United Breweries Ltd. | Consumer Staples | 0.87% | ₹12.85 Cr | +1.11% | +1.36% | +1.62% |
| Oil And Natural Gas Corporation Ltd. | Energy | 0.86% | ₹12.59 Cr | — | — | — |
| Apollo Tyres Ltd. | Automobile | 0.85% | ₹12.52 Cr | +0.97% | +0.82% | +0.86% |
| State Bank of India | Financial | 0.84% | ₹12.28 Cr | +0.84% | +7.73% | +5.30% |
| SBI Life Insurance Company Ltd. | Insurance | 0.79% | ₹11.65 Cr | +0.76% | — | — |
| Max Financial Services Ltd. | Financial | 0.78% | ₹11.40 Cr | +1.04% | +2.11% | +1.92% |
| Carborundum Universal Ltd. | Metals & Mining | 0.75% | ₹11.09 Cr | +0.95% | +0.77% | +0.87% |
| Bayer CropScience Ltd. | Chemicals | 0.72% | ₹10.65 Cr | +1.04% | +0.62% | — |
| Hindustan Petroleum Corporation Ltd. | Energy | 0.71% | ₹10.46 Cr | +0.26% | — | — |
| Bank Of Baroda | Financial | 0.55% | ₹8.03 Cr | — | — | — |
| ICICI Prudential Life Insurance Company Ltd. | Insurance | 0.54% | ₹7.97 Cr | +0.67% | — | — |
| Sudarshan Chemical Industries Ltd. | Chemicals | 0.49% | ₹7.20 Cr | +0.81% | +0.77% | +1.34% |
| company:15362 | Financial | 0.49% | ₹7.15 Cr | — | — | — |
| Siemens Ltd. | Capital Goods | 0.47% | ₹6.88 Cr | +0.68% | +1.05% | +0.97% |
| Hindustan Aeronautics Ltd. | Capital Goods | 0.46% | ₹6.76 Cr | +0.68% | — | — |
| Indus Towers Ltd. | Communication | 0.45% | ₹6.61 Cr | — | — | — |
| company:20246 | Insurance | 0.43% | ₹6.37 Cr | — | — | — |
| TVS Motor Company Ltd. | Automobile | 0.41% | ₹6.06 Cr | +0.68% | +2.66% | +2.31% |
| Trent Ltd. | Services | 0.40% | ₹5.95 Cr | +0.50% | — | — |
| Aditya Birla Sun Life AMC Ltd. | Financial | 0.28% | ₹4.14 Cr | — | — | — |
| Timken India Ltd. | Capital Goods | 0.28% | ₹4.08 Cr | — | — | — |
| company:2096 | Materials | 0.26% | ₹3.75 Cr | — | — | — |
| Atul Ltd. | Chemicals | 0.24% | ₹3.52 Cr | — | — | — |
| company:9187 | Services | 0.23% | ₹3.37 Cr | — | — | — |
| Siemens Energy India Ltd. | Energy | 0.21% | ₹3.12 Cr | +0.43% | +0.90% | +1.06% |
| company:551 | Materials | 0.03% | ₹0.41 Cr | — | — | — |
| TVS Motor Company Ltd - Pref. Shares | Automobile | 0.02% | ₹0.34 Cr | +0.03% | +0.03% | +0.03% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Others | 1.80% | -8.46% | -10.26% |
| Nifty 50 | 7.95% | 9.92% | +1.97% |
| company:5765 | 0.00% | 1.01% | +1.01% |
| HDFC Bank Ltd. | 9.03% | 8.49% | -0.54% |
| company:15362 | 0.00% | 0.49% | +0.49% |
| company:20246 | 0.00% | 0.43% | +0.43% |
| NTPC Ltd. | 3.07% | 2.76% | -0.31% |
| Mahindra & Mahindra Ltd. | 3.66% | 3.36% | -0.30% |
| Maruti Suzuki India Ltd. | 2.77% | 2.51% | -0.26% |
| Reliance Industries Ltd. | 3.62% | 3.36% | -0.26% |
| company:2096 | 0.00% | 0.26% | +0.26% |
| Ultratech Cement Ltd. | 2.96% | 2.71% | -0.25% |
| Sudarshan Chemical Industries Ltd. | 0.73% | 0.49% | -0.24% |
| company:9187 | 0.00% | 0.23% | +0.23% |
| Voltas Ltd. | 1.55% | 1.33% | -0.22% |
| Shree Cement Ltd. | 1.30% | 1.10% | -0.20% |
| Multi Commodity Exchange Of India Ltd. | 0.82% | 0.98% | +0.16% |
| Hindustan Aeronautics Ltd. | 0.61% | 0.46% | -0.15% |
| Bharat Petroleum Corporation Ltd. | 0.74% | 0.87% | +0.13% |
| United Breweries Ltd. | 1.00% | 0.87% | -0.13% |
| Asian Paints Ltd. | 2.75% | 2.63% | -0.12% |
| SBI Life Insurance Company Ltd. | 0.90% | 0.79% | -0.11% |
| Bharti Airtel Ltd. | 4.49% | 4.60% | +0.11% |
| HDFC Life Insurance Co Ltd. | 1.79% | 1.69% | -0.10% |
| Bayer CropScience Ltd. | 0.81% | 0.72% | -0.09% |
| Schaeffler India Ltd. | 1.37% | 1.28% | -0.09% |
| Siemens Ltd. | 0.56% | 0.47% | -0.09% |
| State Bank of India | 0.75% | 0.84% | +0.09% |
| Larsen & Toubro Ltd. | 4.29% | 4.20% | -0.09% |
| Hero Motocorp Ltd. | 2.35% | 2.27% | -0.08% |
| Hindustan Petroleum Corporation Ltd. | 0.63% | 0.71% | +0.08% |
| Oil And Natural Gas Corporation Ltd. | 0.94% | 0.86% | -0.08% |
| Power Grid Corporation Of India Ltd. | 1.14% | 1.06% | -0.08% |
| Hyundai Motor India Ltd. | 1.64% | 1.58% | -0.06% |
| Axis Bank Ltd. | 5.72% | 5.77% | +0.05% |
| Nippon Life India Asset Management Ltd. | 0.92% | 0.88% | -0.04% |
| Trent Ltd. | 0.44% | 0.40% | -0.04% |
| Info Edge (India) Ltd. | 1.13% | 1.16% | +0.03% |
| Interglobe Aviation Ltd. | 1.01% | 0.98% | -0.03% |
| company:551 | 0.00% | 0.03% | +0.03% |
| Bank Of Baroda | 0.58% | 0.55% | -0.03% |
| ICICI Prudential Life Insurance Company Ltd. | 0.57% | 0.54% | -0.03% |
| Apollo Tyres Ltd. | 0.87% | 0.85% | -0.02% |
| Atul Ltd. | 0.26% | 0.24% | -0.02% |
| TVS Motor Company Ltd. | 0.43% | 0.41% | -0.02% |
| Indus Towers Ltd. | 0.47% | 0.45% | -0.02% |
| ICICI Bank Ltd. | 9.42% | 9.44% | +0.02% |
| Carborundum Universal Ltd. | 0.76% | 0.75% | -0.01% |
| Page Industries Ltd. | 1.19% | 1.18% | -0.01% |
| Siemens Energy India Ltd. | 0.22% | 0.21% | -0.01% |
| Timken India Ltd. | 0.29% | 0.28% | -0.01% |
| Aditya Birla Sun Life AMC Ltd. | 0.28% | 0.28% | 0.00% |
| DLF Ltd. | 2.69% | 2.69% | 0.00% |
| Max Financial Services Ltd. | 0.78% | 0.78% | 0.00% |
| TVS Motor Company Ltd - Pref. Shares | 0.02% | 0.02% | 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% |
 Franklin India Opportunities Fund | ₹9,717 Cr | 2.09% | 7.4% | 9.7% | 18.4% |
 Kotak Business Cycle Fund | ₹3,509 Cr | 2.05% | 11.2% | 10.5% | — |
 Mahindra Manulife Business Cycle Fund | ₹1,364 Cr | 2.42% | 2.3% | 7.2% | — |
 Aditya Birla Sun Life Special Opportunities Fund | ₹1,279 Cr | 2.29% | 14.1% | 13.7% | 15.8% |
 HSBC Business Cycles Fund | ₹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 provide long-term capital appreciation by investing in equity and equity related securities with a focus on riding business cycles through dynamic allocation across various sectors / themes / stocks at different stages of business cycle.
Fund managers
- Anish TawakleyMr. Tawakley has done PGDM (MBA) from IIM Bangalore and B. Tech (Mechanical Engineering) from IIT DelhiPrior joining to DSP MF, he has worked with ICICI AMC, Barclays India - Equity Research, Credit Suisse India - Equity research - Indian financial services sector,
- Aparna KarnikMs. Karnik is a Masters in Management Studies.Prior to joining DSP Mutual Fund, she has worked with CRISIL Ratings.
- Sandeep YadavMr. Yadav is a Computer Engineer (Pune University), PGDBM (IIM Bangalore) and a CFA chartered holder.Prior to joining DSP, he has worked with Cognizant Technologies, Hughes Services and Mahindra British Telecom.
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 months5.62% absolute | ₹60,000 | ₹63,372 | 5.62% | |
| 1 year1.02% annualised | ₹1,20,000 | ₹1,20,665 | 0.55% |
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.
What is the NAV of DSP Business Cycle Fund?
The NAV of DSP Business Cycle Fund is ₹10.02 as on 25 Sep 2026.
What is the expense ratio of DSP Business Cycle Fund?
The expense ratio of DSP Business Cycle Fund is 2.76% per year.
What is the minimum SIP amount for DSP Business Cycle Fund?
You can start a SIP in DSP Business Cycle Fund with ₹3,000 a month.
Is there a lock-in or exit load on DSP Business Cycle Fund?
Lock-in: None. Exit load: 0.5% for redemption within 1 Month.
How risky is DSP Business Cycle Fund?
DSP Business Cycle Fund is rated Very High on the SEBI riskometer and belongs to the Equity Opportunities category.
Which fund house manages DSP Business Cycle Fund?
DSP Business Cycle Fund is managed by DSP Mutual Fund, which runs 60 schemes with ₹2,33,296 Cr under management.