Tata Business Cycle Fund
Equity OpportunitiesVery HighOPEN-ENDED
- NAV as on 9 Nov 2026
- ₹18.40+0.59%1 day
- Return since launch
- 12.2%
- 52-week range
- ₹16.45 — ₹19.42
- AUM
- ₹2,416 Cr
Tata Business Cycle Fund is a Equity Opportunities equity fund from Tata Mutual Fund with ₹2,416 Cr under management, launched in 2021. Over three years it has returned 1.1% a year, against 13.7% for its category. The expense ratio is 2.19% and the SEBI riskometer reading is Very High.
Performance
Tata Business Cycle Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned -3.0% against -1.1% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | -1.7% | −5.8 pts | 4.1% | 5.3% |
| 2Y | -0.2% | −6.0 pts | 5.8% | 3.0% |
| 3Y | 1.1% | −12.6 pts | 13.7% | 3.6% |
| 5Y | 9.1% | −3.7 pts | 12.8% | 9.6% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | 4.0% | +0.3 pts | 3.8% | 4.8% |
| 3M | -4.9% | −3.9 pts | -1.0% | -0.9% |
| 6M | -2.1% | −7.6 pts | 5.5% | 4.4% |
| 1Y | -3.0% | −7.1 pts | 4.1% | -1.1% |
| 2Y | -1.8% | −4.5 pts | 2.7% | 0.1% |
| 3Y | 9.1% | −4.6 pts | 13.7% | 10.6% |
| 5Y | 11.1% | −1.7 pts | 12.8% | 9.8% |
Since launch (16 Jul 2021): 12.2%
Calendar-year returns
Category average13.5%
34.3%
18.3%
0.8%
Show as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 0.8% | −2.4 pts | 3.2% |
| 2024 | 18.3% | −4.9 pts | 23.3% |
| 2023 | 34.3% | −1.0 pts | 35.3% |
| 2022 | 13.5% | +3.8 pts | 9.7% |
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
2.18%
Expense ratio as on 6 Nov 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.71%
- Brokerage
- 0.06%
- Transaction charges
- 0.00%
- Statutory levies
- 0.41%
- 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.
Very High
Your principal is treated as being at very high risk — typically small cap, sectoral and thematic equity schemes.
| Ratio | Fund | Category avg | Read as |
|---|---|---|---|
| Alpha | -2.13 | 4.92 | Return earned above what the benchmark alone would have given. Higher is better. |
| Beta | 1.00 | 0.97 | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | 0.19 | 0.62 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 0.26 | 0.84 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 16.04 | 15.96 | How widely monthly returns have varied around their own average. Lower is steadier. |
| Average of 5 category peers | |||
Portfolio
Tata Business Cycle Fund portfolio
Portfolio as of 30 Sep 2026
Asset allocation
- Equity97.8%
- Other2.2%
Market cap split
- Large47.1%
- Mid21.8%
- Small31.1%
- P/E
- 28.50
- P/B
- 3.01
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Reliance Industries Ltd. | Energy | 4.80% | ₹116 Cr | +4.73% | +7.08% | +6.25% |
| Metropolis Healthcare Ltd. | Healthcare | 4.25% | ₹103 Cr | +4.23% | +3.83% | +2.76% |
| Axis Bank Ltd. | Financial | 3.95% | ₹95.37 Cr | +3.92% | +3.82% | +3.11% |
| Jindal Steel Ltd. | Metals & Mining | 3.92% | ₹94.60 Cr | +3.31% | +4.67% | +3.50% |
| HDFC Bank Ltd. | Financial | 3.73% | ₹90.17 Cr | +3.09% | +4.49% | +4.88% |
| L&T Finance Ltd. | Financial | 2.96% | ₹71.56 Cr | +3.02% | +2.81% | +2.52% |
| Larsen & Toubro Ltd. | Construction | 2.92% | ₹70.48 Cr | +3.14% | +3.00% | +2.78% |
| Delhivery Ltd. | Services | 2.78% | ₹67.20 Cr | +2.90% | +2.89% | +2.10% |
| Cummins India Ltd. | Capital Goods | 2.58% | ₹62.41 Cr | +2.57% | +2.53% | +2.26% |
| Adani Energy Solutions Ltd. | Energy | 2.53% | ₹61.12 Cr | +2.40% | +2.03% | +1.59% |
| Ratnamani Metals & Tubes Ltd. | Metals & Mining | 2.52% | ₹60.83 Cr | +1.47% | — | — |
| Ambuja Cements Ltd. | Materials | 2.42% | ₹58.39 Cr | +2.47% | +2.65% | +2.59% |
| Niva Bupa Health Insurance Company Ltd. | Insurance | 2.41% | ₹58.14 Cr | +2.21% | +2.02% | +1.97% |
| Shriram Finance Ltd | Financial | 2.35% | ₹56.79 Cr | +2.26% | +2.13% | +1.43% |
| Others | Others | 2.24% | ₹54.28 Cr | +3.14% | +1.82% | +3.70% |
| Oil And Natural Gas Corporation Ltd. | Energy | 2.14% | ₹51.65 Cr | +1.93% | — | — |
| PB Fintech Ltd. | Services | 2.13% | ₹51.54 Cr | +2.65% | +2.25% | +1.91% |
| Godrej Properties Ltd. | Construction | 2.10% | ₹50.61 Cr | +2.17% | +1.93% | +2.16% |
| Marico Ltd. | Consumer Staples | 2.08% | ₹50.30 Cr | +2.01% | +1.99% | — |
| Tata Steel Ltd. | Metals & Mining | 2.03% | ₹48.96 Cr | +1.87% | +1.61% | — |
| SEDEMAC Mechatronics Ltd. | Capital Goods | 1.99% | ₹48.15 Cr | +1.79% | +1.57% | — |
| The Ramco Cements Ltd. | Materials | 1.99% | ₹48.02 Cr | +1.78% | +1.98% | +1.78% |
| Vedanta Aluminium Metal Ltd. | Metals & Mining | 1.99% | ₹47.96 Cr | +1.50% | — | — |
| Apollo Hospitals Enterprise Ltd. | Healthcare | 1.95% | ₹47.15 Cr | +1.79% | +2.51% | +1.92% |
| One 97 Communications Ltd. | Services | 1.95% | ₹46.98 Cr | +1.35% | +1.28% | — |
| Bharat Forge Ltd. | Automobile | 1.93% | ₹46.61 Cr | +1.29% | — | — |
| Dr. Lal Pathlabs Ltd. | Healthcare | 1.93% | ₹46.67 Cr | +1.45% | +1.47% | +0.80% |
| Graphite India Ltd. | Capital Goods | 1.90% | ₹45.82 Cr | +1.03% | +0.96% | — |
| ACME Solar Holdings Ltd. | Energy | 1.89% | ₹45.66 Cr | +1.51% | +1.38% | +1.22% |
| Adani Ports and Special Economic Zone Ltd. | Services | 1.85% | ₹44.63 Cr | +1.68% | +1.38% | +1.23% |
| Nuvoco Vistas Corporation Ltd. | Materials | 1.82% | ₹43.86 Cr | +1.27% | +1.32% | +1.65% |
| Varun Beverages Ltd. | Consumer Staples | 1.76% | ₹42.41 Cr | +1.87% | +1.59% | +1.05% |
| Abbott India Ltd. | Healthcare | 1.63% | ₹39.48 Cr | — | — | — |
| Glaxosmithkline Pharmaceuticals Ltd. | Healthcare | 1.52% | ₹36.83 Cr | +1.54% | — | — |
| Bajaj Finserv Ltd. | Financial | 1.50% | ₹36.35 Cr | +1.40% | +1.45% | +1.49% |
| ICICI Lombard General Insurance Company Ltd. | Insurance | 1.50% | ₹36.34 Cr | +1.49% | +1.65% | +1.33% |
| DCB Bank Ltd. | Financial | 1.40% | ₹33.75 Cr | +1.15% | +1.11% | +0.74% |
| HDFC Life Insurance Co Ltd. | Insurance | 1.38% | ₹33.44 Cr | +1.39% | +1.60% | +1.98% |
| Hitachi Energy India Ltd. | Capital Goods | 1.29% | ₹31.24 Cr | — | — | — |
| Amber Enterprises India Ltd. | Consumer Discretionary | 1.20% | ₹29.04 Cr | — | — | — |
| 360 One Wam Ltd. | Financial | 1.15% | ₹27.71 Cr | +1.08% | +1.08% | +0.97% |
| Five-Star Business Finance Ltd. | Financial | 1.09% | ₹26.23 Cr | +1.03% | +0.65% | +0.83% |
| Dixon Technologies (India) Ltd. | Capital Goods | 1.06% | ₹25.55 Cr | +1.09% | — | — |
| Gravita India Ltd. | Metals & Mining | 1.06% | ₹25.67 Cr | +1.08% | +0.99% | +0.87% |
| Bayer CropScience Ltd. | Chemicals | 1.02% | ₹24.64 Cr | +1.06% | +1.20% | — |
| Hindustan Unilever Ltd. | Consumer Staples | 0.97% | ₹23.49 Cr | +0.99% | +1.09% | +1.11% |
| Lohia Corp Ltd. | Materials | 0.94% | ₹22.77 Cr | — | — | — |
| SBI Cards And Payment Services Ltd. | Financial | 0.79% | ₹19.16 Cr | +0.74% | — | — |
| Shree Cement Ltd. | Materials | 0.49% | ₹11.80 Cr | +0.99% | +2.13% | +2.27% |
| DEE Development Engineers Ltd. | Services | 0.22% | ₹5.37 Cr | +0.19% | — | — |
| Tata Nifty India Digital ETF - Growth | Unclassified | 0.00% | ₹0.01 Cr | 0.00% | 0.00% | 0.00% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Hitachi Energy India Ltd. | 0.00% | 1.29% | +1.29% |
| Emmvee Photovoltaic Power Ltd. | 1.11% | 0.00% | -1.11% |
| PB Fintech Ltd. | 3.13% | 2.13% | -1.00% |
| Bharat Heavy Electricals Ltd. | 0.94% | 0.00% | -0.94% |
| Others | 2.56% | 1.82% | -0.74% |
| Graphite India Ltd. | 1.21% | 1.90% | +0.69% |
| Amber Enterprises India Ltd. | 0.57% | 1.20% | +0.63% |
| Glaxosmithkline Pharmaceuticals Ltd. | 1.97% | 1.52% | -0.45% |
| L&T Finance Ltd. | 3.33% | 2.96% | -0.37% |
| Adani Ports and Special Economic Zone Ltd. | 1.52% | 1.85% | +0.33% |
| Metropolis Healthcare Ltd. | 4.57% | 4.25% | -0.32% |
| Godrej Properties Ltd. | 2.41% | 2.10% | -0.31% |
| Nuvoco Vistas Corporation Ltd. | 1.55% | 1.82% | +0.27% |
| ACME Solar Holdings Ltd. | 1.63% | 1.89% | +0.26% |
| HDFC Bank Ltd. | 3.47% | 3.73% | +0.26% |
| Ratnamani Metals & Tubes Ltd. | 2.27% | 2.52% | +0.25% |
| Varun Beverages Ltd. | 1.51% | 1.76% | +0.25% |
| Abbott India Ltd. | 1.39% | 1.63% | +0.24% |
| SEDEMAC Mechatronics Ltd. | 1.75% | 1.99% | +0.24% |
| Shree Cement Ltd. | 0.69% | 0.49% | -0.20% |
| Oil And Natural Gas Corporation Ltd. | 1.95% | 2.14% | +0.19% |
| Adani Energy Solutions Ltd. | 2.34% | 2.53% | +0.19% |
| Dr. Lal Pathlabs Ltd. | 1.75% | 1.93% | +0.18% |
| Gravita India Ltd. | 1.23% | 1.06% | -0.17% |
| Lohia Corp Ltd. | 1.10% | 0.94% | -0.16% |
| Tata Steel Ltd. | 1.88% | 2.03% | +0.15% |
| The Ramco Cements Ltd. | 1.85% | 1.99% | +0.14% |
| One 97 Communications Ltd. | 2.08% | 1.95% | -0.13% |
| Bajaj Finserv Ltd. | 1.63% | 1.50% | -0.13% |
| ICICI Lombard General Insurance Company Ltd. | 1.38% | 1.50% | +0.12% |
| Shriram Finance Ltd | 2.46% | 2.35% | -0.11% |
| Delhivery Ltd. | 2.88% | 2.78% | -0.10% |
| Jindal Steel Ltd. | 3.82% | 3.92% | +0.10% |
| 360 One Wam Ltd. | 1.21% | 1.15% | -0.06% |
| Axis Bank Ltd. | 3.89% | 3.95% | +0.06% |
| Marico Ltd. | 2.02% | 2.08% | +0.06% |
| Dixon Technologies (India) Ltd. | 1.11% | 1.06% | -0.05% |
| Five-Star Business Finance Ltd. | 1.04% | 1.09% | +0.05% |
| Vedanta Aluminium Metal Ltd. | 1.94% | 1.99% | +0.05% |
| DEE Development Engineers Ltd. | 0.18% | 0.22% | +0.04% |
| HDFC Life Insurance Co Ltd. | 1.34% | 1.38% | +0.04% |
| Bharat Forge Ltd. | 1.96% | 1.93% | -0.03% |
| SBI Cards And Payment Services Ltd. | 0.82% | 0.79% | -0.03% |
| Apollo Hospitals Enterprise Ltd. | 1.97% | 1.95% | -0.02% |
| Bayer CropScience Ltd. | 1.04% | 1.02% | -0.02% |
| Hindustan Unilever Ltd. | 0.95% | 0.97% | +0.02% |
| Niva Bupa Health Insurance Company Ltd. | 2.43% | 2.41% | -0.02% |
| Cummins India Ltd. | 2.57% | 2.58% | +0.01% |
| DCB Bank Ltd. | 1.39% | 1.40% | +0.01% |
| Ambuja Cements Ltd. | 2.41% | 2.42% | +0.01% |
| Larsen & Toubro Ltd. | 2.91% | 2.92% | +0.01% |
| Reliance Industries Ltd. | 4.79% | 4.80% | +0.01% |
| Tata Nifty India Digital ETF - Growth | 0.00% | 0.00% | 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 with focus on riding business cycles through allocation between sectors and stocks at different stages of business cycles.
Fund managers
- Murthy NagarajanMr. Nagarajan is a M.Com, ICWA and PGPMS.Prior to joining Tata AMC he has worked with Quantum AMC as head fixed income, Mirae Asset Global Investment India Ltd..
- Rahul SinghMr. Singh is B.Tech & PGDBMPrior to Tata AMC, he has worked with Ampersand Capital Investment Advisors LLP, Standard Chartered Securities and Citigroup Global Markets India.
- Sailesh JainMr. Jain is a Commerce Graduate and an MBA.Prior to joining TATA Mutual Fund, he has worked with Invesco Mutual Fund, IDFC Securities Ltd. as Head Derivatives, Quant Broking Pvt Ltd. as Vice President and IIFL(India Infoline) as Vice President.
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 months−2.15% absolute | ₹60,000 | ₹58,710 | −2.15% | |
| 1 year−2.97% annualised | ₹1,20,000 | ₹1,18,087 | −1.59% | |
| 3 years9.10% annualised | ₹3,60,000 | ₹4,15,276 | 15.35% | |
| 5 years11.12% annualised | ₹6,00,000 | ₹8,05,117 | 34.19% |
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 Tata Business Cycle Fund?
The NAV of Tata Business Cycle Fund is ₹18.40 as on 9 Nov 2026.
What is the expense ratio of Tata Business Cycle Fund?
The expense ratio of Tata Business Cycle Fund is 2.19% per year.
What is the minimum SIP amount for Tata Business Cycle Fund?
You can start a SIP in Tata Business Cycle Fund with ₹3,000 a month.
What returns has Tata Business Cycle Fund given?
Tata Business Cycle Fund has returned -1.7% over 1 year, 1.1% over 3 years and 9.1% over 5 years (annualised).
Is there a lock-in or exit load on Tata Business Cycle Fund?
Lock-in: None. Exit load: Exit load of 0.50%, if redeemed within 30 days..
How risky is Tata Business Cycle Fund?
Tata Business Cycle Fund is rated Very High on the SEBI riskometer and belongs to the Equity Opportunities category.
Which fund house manages Tata Business Cycle Fund?
Tata Business Cycle Fund is managed by Tata Mutual Fund, which runs 62 schemes with ₹2,39,201 Cr under management.