Invesco India Business Cycle Fund
- NAV as on 9 Nov 2026
- ₹14.94+0.20%1 day
- Return since launch
- 28.7%
- 52-week range
- ₹10.93 — ₹14.91
- AUM
- ₹1,411 Cr
Invesco India Business Cycle Fund is a Equity Opportunities equity fund from Invesco Mutual Fund with ₹1,411 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 +16.9% against -1.4% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | 27.6% | +23.5 pts | 4.1% | 5.3% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 9.4% | +5.6 pts | 3.8% | 4.8% |
| 3M | 3.1% | +4.1 pts | -1.0% | -0.9% |
| 6M | 14.4% | +8.9 pts | 5.5% | 4.4% |
| 1Y | 16.7% | +12.6 pts | 4.1% | -1.1% |
Since launch (6 Feb 2025): 28.7%
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 6 Nov 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.81%
- Brokerage
- 0.06%
- Transaction charges
- 0.00%
- Statutory levies
- 0.39%
- 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 30 Sep 2026
Asset allocation
- Equity96.0%
- Other4.0%
Market cap split
- Large48.2%
- Mid25.7%
- Small26.1%
- P/E
- 34.87
- P/B
- 3.94
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Kotak Mahindra Bank Ltd. | Financial | 6.03% | ₹82.83 Cr | +6.10% | — | — |
| Axis Bank Ltd. | Financial | 6.00% | ₹82.38 Cr | — | — | — |
| Apollo Hospitals Enterprise Ltd. | Healthcare | 5.99% | ₹82.26 Cr | +1.26% | +1.53% | +3.20% |
| DLF Ltd. | Construction | 5.62% | ₹77.17 Cr | — | — | — |
| Sai Life Sciences Ltd. | Healthcare | 5.25% | ₹72.12 Cr | +4.87% | +5.47% | +4.21% |
| Aditya Infotech Ltd. | Communication | 5.03% | ₹69.13 Cr | +6.45% | +5.12% | +3.38% |
| Larsen & Toubro Ltd. | Construction | 4.70% | ₹64.57 Cr | — | — | — |
| Interglobe Aviation Ltd. | Services | 4.22% | ₹57.99 Cr | +5.21% | +5.46% | +4.93% |
| Others | Others | 4.01% | ₹54.91 Cr | -0.50% | -1.88% | -2.98% |
| Prestige Estates Projects Ltd. | Construction | 3.59% | ₹49.32 Cr | +4.34% | +4.46% | +4.03% |
| Eternal Ltd. | Services | 3.52% | ₹48.32 Cr | +3.33% | +4.11% | +4.98% |
| BSE Ltd. | Services | 3.07% | ₹42.16 Cr | +4.40% | +4.35% | +2.77% |
| Max Healthcare Institute Ltd. | Healthcare | 2.99% | ₹41.05 Cr | +5.69% | +6.91% | +4.95% |
| Trent Ltd. | Services | 2.93% | ₹40.26 Cr | +4.21% | +4.01% | +4.81% |
| The Federal Bank Ltd. | Financial | 2.90% | ₹39.77 Cr | +3.45% | +3.86% | — |
| AU Small Finance Bank Ltd. | Financial | 2.86% | ₹39.34 Cr | +3.37% | +3.90% | +5.16% |
| Cholamandalam Investment and Finance Company Ltd. | Financial | 2.80% | ₹38.45 Cr | +3.54% | +3.82% | +5.04% |
| Amber Enterprises India Ltd. | Consumer Discretionary | 2.73% | ₹37.43 Cr | +3.52% | +4.37% | +2.87% |
| Indusind Bank Ltd. | Financial | 2.62% | ₹36.03 Cr | +3.08% | +3.58% | — |
| WeWork India Management Ltd. | Services | 2.57% | ₹35.25 Cr | +3.07% | +2.89% | — |
| The Indian Hotels Company Ltd. | Services | 2.50% | ₹34.40 Cr | +1.71% | +1.94% | +0.62% |
| L&T Finance Ltd. | Financial | 2.31% | ₹31.77 Cr | +3.11% | +3.42% | +3.45% |
| Global Health Ltd. | Healthcare | 2.19% | ₹30.09 Cr | +2.42% | +2.52% | +3.82% |
| Krishna Institute of Medical Sciences Ltd | Healthcare | 2.08% | ₹28.61 Cr | +2.60% | +2.83% | +2.61% |
| JK Cement Ltd. | Materials | 1.78% | ₹24.44 Cr | +2.19% | +2.91% | +2.43% |
| Max Estates Ltd. | Construction | 1.69% | ₹23.20 Cr | +1.41% | +1.45% | +2.42% |
| Sonata Software Ltd. | Technology | 1.44% | ₹19.79 Cr | +1.71% | +1.91% | +3.49% |
| HDFC Asset Management Company Ltd. | Financial | 1.38% | ₹18.91 Cr | +1.84% | +2.19% | +2.55% |
| Glenmark Pharmaceuticals Ltd. | Healthcare | 1.31% | ₹17.95 Cr | +1.41% | +1.95% | +1.98% |
| The Phoenix Mills Ltd. | Construction | 0.94% | ₹12.98 Cr | +1.09% | +1.20% | +1.37% |
| Dixon Technologies (India) Ltd. | Capital Goods | 0.86% | ₹11.85 Cr | +0.90% | +1.04% | +1.94% |
| Timken India Ltd. | Capital Goods | 0.50% | ₹6.88 Cr | +0.64% | +0.84% | +0.87% |
| Grindwell Norton Ltd. | Metals & Mining | 0.47% | ₹6.48 Cr | +0.59% | +0.52% | +0.68% |
| Carborundum Universal Ltd. | Metals & Mining | 0.40% | ₹5.52 Cr | +0.43% | +0.41% | +0.54% |
| Ethos Ltd. | Services | 0.37% | ₹5.05 Cr | +0.41% | +0.52% | +0.66% |
| Bansal Wire Industries Ltd. | Metals & Mining | 0.35% | ₹4.81 Cr | +0.42% | +0.40% | +0.66% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Axis Bank Ltd. | 3.57% | 6.00% | +2.43% |
| RBL Bank Ltd. | 2.12% | 0.00% | -2.12% |
| Apollo Hospitals Enterprise Ltd. | 3.88% | 5.99% | +2.11% |
| Others | -0.06% | -2.17% | -2.11% |
| DLF Ltd. | 4.54% | 5.62% | +1.08% |
| The Indian Hotels Company Ltd. | 1.53% | 2.50% | +0.97% |
| L&T Finance Ltd. | 2.79% | 2.31% | -0.48% |
| Aditya Infotech Ltd. | 4.64% | 5.03% | +0.39% |
| Cholamandalam Investment and Finance Company Ltd. | 3.19% | 2.80% | -0.39% |
| Amber Enterprises India Ltd. | 3.10% | 2.73% | -0.37% |
| Kotak Mahindra Bank Ltd. | 5.66% | 6.03% | +0.37% |
| Prestige Estates Projects Ltd. | 3.93% | 3.59% | -0.34% |
| The Federal Bank Ltd. | 3.24% | 2.90% | -0.34% |
| Max Healthcare Institute Ltd. | 3.33% | 2.99% | -0.34% |
| Indusind Bank Ltd. | 2.94% | 2.62% | -0.32% |
| Trent Ltd. | 3.20% | 2.93% | -0.27% |
| Sai Life Sciences Ltd. | 5.00% | 5.25% | +0.25% |
| Max Estates Ltd. | 1.47% | 1.69% | +0.22% |
| AU Small Finance Bank Ltd. | 3.06% | 2.86% | -0.20% |
| Interglobe Aviation Ltd. | 4.41% | 4.22% | -0.19% |
| HDFC Asset Management Company Ltd. | 1.57% | 1.38% | -0.19% |
| Sonata Software Ltd. | 1.62% | 1.44% | -0.18% |
| BSE Ltd. | 3.24% | 3.07% | -0.17% |
| Global Health Ltd. | 2.36% | 2.19% | -0.17% |
| Dixon Technologies (India) Ltd. | 0.97% | 0.86% | -0.11% |
| WeWork India Management Ltd. | 2.65% | 2.57% | -0.08% |
| Eternal Ltd. | 3.59% | 3.52% | -0.07% |
| Glenmark Pharmaceuticals Ltd. | 1.38% | 1.31% | -0.07% |
| Carborundum Universal Ltd. | 0.35% | 0.40% | +0.05% |
| Ethos Ltd. | 0.42% | 0.37% | -0.05% |
| Larsen & Toubro Ltd. | 4.74% | 4.70% | -0.04% |
| Krishna Institute of Medical Sciences Ltd | 2.10% | 2.08% | -0.02% |
| The Phoenix Mills Ltd. | 0.92% | 0.94% | +0.02% |
| Grindwell Norton Ltd. | 0.48% | 0.47% | -0.01% |
| JK Cement Ltd. | 1.79% | 1.78% | -0.01% |
| Bansal Wire Industries Ltd. | 0.34% | 0.35% | +0.01% |
| Timken India Ltd. | 0.50% | 0.50% | 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 | ₹6,051 Cr | 2.13% | 7.0% | 8.6% | 15.0% |
 ICICI Prudential Business Cycle Fund | ₹14,614 Cr | 1.86% | 3.4% | 6.8% | 13.3% |
 Franklin India Opportunities Fund | ₹9,577 Cr | 2.08% | 0.9% | 5.9% | 16.1% |
 Kotak Business Cycle Fund | ₹3,414 Cr | 2.02% | 15.1% | 11.2% | — |
 Aditya Birla Sun Life Special Opportunities Fund | ₹1,359 Cr | 2.26% | 14.5% | 13.5% | 15.7% |
 Mahindra Manulife Business Cycle Fund | ₹1,291 Cr | 2.42% | 0.9% | 5.7% | — |
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 months14.40% absolute | ₹60,000 | ₹68,640 | 14.40% | |
| 1 year16.72% annualised | ₹1,20,000 | ₹1,31,443 | 9.54% |
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.