Invesco India Business Cycle Fund
- NAV as on 25 Sep 2026
- ₹14.08-0.28%1 day
- Return since launch
- 26.4%
- 52-week range
- ₹10.93 — ₹14.51
- AUM
- ₹1,381 Cr
Invesco India Business Cycle Fund is a Equity Opportunities equity fund from Invesco Mutual Fund with ₹1,381 Cr under management, launched in 2025. The expense ratio is 2.27% and the SEBI riskometer reading is Very High.
Performance
Invesco India Business Cycle Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned +13.7% 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 | 18.0% | +11.9 pts | 6.1% | 1.5% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | -2.5% | −0.2 pts | -2.3% | -2.6% |
| 3M | 0.7% | −1.3 pts | 2.0% | 0.9% |
| 6M | 25.4% | +9.6 pts | 15.8% | 12.8% |
| 1Y | 13.7% | +7.6 pts | 6.1% | 0.1% |
Since launch (6 Feb 2025): 26.4%
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
2.26%
Expense ratio as on 25 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.83%
- Brokerage
- 0.05%
- Transaction charges
- 0.00%
- Statutory levies
- 0.38%
- Exit load
- Exit load of 0.50%, if redeemed within 3 months.
- 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
Invesco India Business Cycle Fund portfolio
Portfolio as of 31 Aug 2026
Asset allocation
- Equity94.6%
- Other5.4%
Market cap split
- Large44.0%
- Mid27.4%
- Small28.7%
- P/E
- 38.84
- P/B
- 4.07
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Kotak Mahindra Bank Ltd. | Financial | 5.66% | ₹78.22 Cr | +4.92% | — | — |
| Others | Others | 5.38% | ₹74.22 Cr | -0.86% | -0.04% | -1.00% |
| Sai Life Sciences Ltd. | Healthcare | 5.00% | ₹69.06 Cr | +5.17% | +4.99% | +4.66% |
| Larsen & Toubro Ltd. | Construction | 4.74% | ₹65.40 Cr | — | — | — |
| Aditya Infotech Ltd. | Communication | 4.64% | ₹64.09 Cr | +6.55% | +4.27% | +3.74% |
| DLF Ltd. | Construction | 4.54% | ₹62.63 Cr | — | — | — |
| Interglobe Aviation Ltd. | Services | 4.41% | ₹60.90 Cr | +4.83% | +5.93% | +4.95% |
| Prestige Estates Projects Ltd. | Construction | 3.93% | ₹54.34 Cr | +4.30% | +4.90% | +4.82% |
| Apollo Hospitals Enterprise Ltd. | Healthcare | 3.88% | ₹53.60 Cr | +1.34% | +2.71% | +3.80% |
| Eternal Ltd. | Services | 3.59% | ₹49.55 Cr | +3.57% | +3.93% | +5.01% |
| Axis Bank Ltd. | Financial | 3.57% | ₹49.36 Cr | — | — | — |
| Max Healthcare Institute Ltd. | Healthcare | 3.33% | ₹46.01 Cr | +5.49% | +6.96% | +4.94% |
| BSE Ltd. | Services | 3.24% | ₹44.75 Cr | +5.33% | +3.90% | +3.29% |
| The Federal Bank Ltd. | Financial | 3.24% | ₹44.69 Cr | +3.41% | +3.97% | — |
| Trent Ltd. | Services | 3.20% | ₹44.23 Cr | +4.08% | +4.22% | +4.96% |
| Cholamandalam Investment and Finance Company Ltd. | Financial | 3.19% | ₹44.08 Cr | +3.44% | +4.34% | +4.74% |
| Amber Enterprises India Ltd. | Consumer Discretionary | 3.10% | ₹42.74 Cr | +4.03% | +4.72% | — |
| AU Small Finance Bank Ltd. | Financial | 3.06% | ₹42.30 Cr | +3.61% | +3.94% | +2.93% |
| Indusind Bank Ltd. | Financial | 2.94% | ₹40.63 Cr | +3.44% | +4.04% | — |
| L&T Finance Ltd. | Financial | 2.79% | ₹38.48 Cr | +3.24% | +3.59% | +3.47% |
| WeWork India Management Ltd. | Services | 2.65% | ₹36.54 Cr | +3.02% | +2.80% | — |
| Global Health Ltd. | Healthcare | 2.36% | ₹32.62 Cr | +2.47% | +2.65% | +3.50% |
| RBL Bank Ltd. | Financial | 2.12% | ₹29.33 Cr | +2.51% | +2.60% | — |
| Krishna Institute of Medical Sciences Ltd | Healthcare | 2.10% | ₹28.96 Cr | +2.74% | +3.02% | +3.12% |
| JK Cement Ltd. | Materials | 1.79% | ₹24.72 Cr | +2.35% | +2.88% | +3.09% |
| Sonata Software Ltd. | Technology | 1.62% | ₹22.38 Cr | +1.91% | +2.17% | +2.76% |
| HDFC Asset Management Company Ltd. | Financial | 1.57% | ₹21.74 Cr | +2.09% | +2.36% | +2.91% |
| The Indian Hotels Company Ltd. | Services | 1.53% | ₹21.13 Cr | +1.77% | — | +0.75% |
| Max Estates Ltd. | Construction | 1.47% | ₹20.25 Cr | +1.65% | +1.68% | +2.48% |
| Glenmark Pharmaceuticals Ltd. | Healthcare | 1.38% | ₹19.07 Cr | +1.65% | +1.73% | +2.25% |
| Dixon Technologies (India) Ltd. | Capital Goods | 0.97% | ₹13.43 Cr | +0.98% | +1.01% | +2.30% |
| The Phoenix Mills Ltd. | Construction | 0.92% | ₹12.74 Cr | +1.12% | +1.17% | +1.53% |
| Timken India Ltd. | Capital Goods | 0.50% | ₹6.91 Cr | +0.75% | +0.80% | +0.96% |
| Grindwell Norton Ltd. | Metals & Mining | 0.48% | ₹6.58 Cr | +0.56% | +0.57% | +0.77% |
| Ethos Ltd. | Services | 0.42% | ₹5.77 Cr | +0.45% | +0.51% | +0.69% |
| Carborundum Universal Ltd. | Metals & Mining | 0.35% | ₹4.88 Cr | +0.43% | +0.38% | +0.61% |
| Bansal Wire Industries Ltd. | Metals & Mining | 0.34% | ₹4.71 Cr | +0.45% | +0.41% | +0.81% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Apollo Hospitals Enterprise Ltd. | 1.20% | 3.88% | +2.68% |
| BSE Ltd. | 3.83% | 3.24% | -0.59% |
| DLF Ltd. | 3.95% | 4.54% | +0.59% |
| Axis Bank Ltd. | 3.01% | 3.57% | +0.56% |
| Max Healthcare Institute Ltd. | 3.74% | 3.33% | -0.41% |
| WeWork India Management Ltd. | 3.06% | 2.65% | -0.41% |
| Trent Ltd. | 3.56% | 3.20% | -0.36% |
| Sonata Software Ltd. | 1.91% | 1.62% | -0.29% |
| Krishna Institute of Medical Sciences Ltd | 2.38% | 2.10% | -0.28% |
| Max Estates Ltd. | 1.20% | 1.47% | +0.27% |
| JK Cement Ltd. | 2.02% | 1.79% | -0.23% |
| The Federal Bank Ltd. | 3.47% | 3.24% | -0.23% |
| Interglobe Aviation Ltd. | 4.64% | 4.41% | -0.23% |
| Prestige Estates Projects Ltd. | 4.15% | 3.93% | -0.22% |
| Cholamandalam Investment and Finance Company Ltd. | 3.39% | 3.19% | -0.20% |
| Sai Life Sciences Ltd. | 4.80% | 5.00% | +0.20% |
| Indusind Bank Ltd. | 3.12% | 2.94% | -0.18% |
| Larsen & Toubro Ltd. | 4.91% | 4.74% | -0.17% |
| Amber Enterprises India Ltd. | 3.22% | 3.10% | -0.12% |
| RBL Bank Ltd. | 2.23% | 2.12% | -0.11% |
| HDFC Asset Management Company Ltd. | 1.67% | 1.57% | -0.10% |
| The Indian Hotels Company Ltd. | 1.63% | 1.53% | -0.10% |
| L&T Finance Ltd. | 2.88% | 2.79% | -0.09% |
| AU Small Finance Bank Ltd. | 3.14% | 3.06% | -0.08% |
| Eternal Ltd. | 3.52% | 3.59% | +0.07% |
| Aditya Infotech Ltd. | 4.70% | 4.64% | -0.06% |
| The Phoenix Mills Ltd. | 0.98% | 0.92% | -0.06% |
| Glenmark Pharmaceuticals Ltd. | 1.32% | 1.38% | +0.06% |
| Grindwell Norton Ltd. | 0.53% | 0.48% | -0.05% |
| Kotak Mahindra Bank Ltd. | 5.61% | 5.66% | +0.05% |
| Global Health Ltd. | 2.39% | 2.36% | -0.03% |
| Timken India Ltd. | 0.53% | 0.50% | -0.03% |
| Others | -0.03% | -0.06% | -0.03% |
| Bansal Wire Industries Ltd. | 0.36% | 0.34% | -0.02% |
| Ethos Ltd. | 0.40% | 0.42% | +0.02% |
| Carborundum Universal Ltd. | 0.36% | 0.35% | -0.01% |
| Dixon Technologies (India) Ltd. | 0.98% | 0.97% | -0.01% |
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 generate long term capital appreciation by investing predominantly in equity and equity related securities 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
- Aditya KhemaniMr. Khemani has done B.Com (Hons) and PGDM from IIM, Lucknow.Prior to joining Invesco Mutual Fund, He was associated with Motilal Oswal Mutual Fund, HSBC AMC, SBI Mutual Fund, ICICI Prudential AMC and Morgan Stanley Advantage Services.
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 months25.38% absolute | ₹60,000 | ₹75,228 | 25.38% | |
| 1 year13.73% annualised | ₹1,20,000 | ₹1,29,310 | 7.76% |
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.