Tata Business Cycle Fund
Equity OpportunitiesVery HighOPEN-ENDED
- NAV as on 25 Sep 2026
- ₹18.58+0.12%1 day
- Return since launch
- 12.9%
- 52-week range
- ₹16.45 — ₹19.42
- AUM
- ₹2,602 Cr
Tata Business Cycle Fund is a Equity Opportunities equity fund from Tata Mutual Fund with ₹2,602 Cr under management, launched in 2021. Over three years it has returned 2.6% a year, against 13.4% for its category. The expense ratio is 2.16% 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 +1.5% 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 | -0.3% | −6.4 pts | 6.1% | 1.5% |
| 2Y | 0.4% | −5.3 pts | 5.6% | 1.0% |
| 3Y | 2.6% | −10.8 pts | 13.4% | 3.3% |
| 5Y | 10.4% | −3.0 pts | 13.4% | 9.6% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | -4.3% | −2.0 pts | -2.3% | -2.6% |
| 3M | -1.8% | −3.8 pts | 2.0% | 0.9% |
| 6M | 10.6% | −5.2 pts | 15.8% | 12.8% |
| 1Y | 1.5% | −4.6 pts | 6.1% | 0.1% |
| 2Y | -5.2% | −4.3 pts | -0.9% | -4.3% |
| 3Y | 10.1% | −3.4 pts | 13.4% | 10.1% |
| 5Y | 12.4% | −1.0 pts | 13.4% | 10.5% |
Since launch (16 Jul 2021): 12.9%
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
2.16%
Expense ratio as on 23 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.69%
- 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 | 0.15 | 5.08 | Return earned above what the benchmark alone would have given. Higher is better. |
| Beta | 0.98 | 1.04 | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | 0.45 | 0.73 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 0.61 | 0.97 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 15.28 | 16.98 | 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 31 Aug 2026
Asset allocation
- Equity97.3%
- Other2.7%
Market cap split
- Large45.5%
- Mid24.1%
- Small30.4%
- P/E
- 30.32
- P/B
- 3.28
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| Reliance Industries Ltd. | Energy | 4.79% | ₹125 Cr | +4.82% | +6.19% | +6.20% |
| Metropolis Healthcare Ltd. | Healthcare | 4.57% | ₹119 Cr | +4.33% | +3.69% | +2.71% |
| Axis Bank Ltd. | Financial | 3.89% | ₹101 Cr | +3.74% | +4.00% | +2.87% |
| Jindal Steel Ltd. | Metals & Mining | 3.82% | ₹99.43 Cr | +3.76% | +4.59% | +2.94% |
| HDFC Bank Ltd. | Financial | 3.47% | ₹90.20 Cr | +3.07% | +4.78% | +4.87% |
| L&T Finance Ltd. | Financial | 3.33% | ₹86.69 Cr | +2.97% | +2.92% | +1.65% |
| PB Fintech Ltd. | Services | 3.13% | ₹81.45 Cr | +2.77% | +2.05% | +1.76% |
| Larsen & Toubro Ltd. | Construction | 2.91% | ₹75.82 Cr | +3.09% | +3.21% | +2.73% |
| Delhivery Ltd. | Services | 2.88% | ₹74.83 Cr | +2.77% | +2.64% | +1.97% |
| Others | Others | 2.66% | ₹69.10 Cr | +5.82% | +5.54% | +3.28% |
| Cummins India Ltd. | Capital Goods | 2.57% | ₹66.93 Cr | +2.66% | +2.42% | +2.19% |
| Shriram Finance Ltd | Financial | 2.46% | ₹64.14 Cr | +2.05% | +2.31% | +1.35% |
| Niva Bupa Health Insurance Company Ltd. | Insurance | 2.43% | ₹63.15 Cr | +2.17% | +1.90% | +1.96% |
| Ambuja Cements Ltd. | Materials | 2.41% | ₹62.63 Cr | +2.61% | +2.90% | +2.55% |
| Godrej Properties Ltd. | Construction | 2.41% | ₹62.62 Cr | +2.05% | +2.00% | +2.13% |
| Adani Energy Solutions Ltd. | Energy | 2.34% | ₹60.94 Cr | +2.63% | +1.93% | +1.39% |
| Ratnamani Metals & Tubes Ltd. | Metals & Mining | 2.27% | ₹59.14 Cr | — | — | — |
| One97 Communications Ltd. | Services | 2.08% | ₹54.09 Cr | +1.32% | +0.96% | — |
| Marico Ltd. | Consumer Staples | 2.02% | ₹52.48 Cr | +1.97% | +1.87% | — |
| Apollo Hospitals Enterprise Ltd. | Healthcare | 1.97% | ₹51.39 Cr | +2.44% | +2.32% | +1.97% |
| Glaxosmithkline Pharmaceuticals Ltd. | Healthcare | 1.97% | ₹51.24 Cr | +0.83% | — | — |
| Bharat Forge Ltd. | Automobile | 1.96% | ₹50.94 Cr | +0.99% | — | — |
| Oil And Natural Gas Corporation Ltd. | Energy | 1.95% | ₹50.79 Cr | +0.99% | — | — |
| Vedanta Aluminium Metal Ltd. | Metals & Mining | 1.94% | ₹50.54 Cr | +0.34% | — | — |
| Tata Steel Ltd. | Metals & Mining | 1.88% | ₹48.98 Cr | +2.07% | +1.45% | — |
| The Ramco Cements Ltd. | Materials | 1.85% | ₹48.14 Cr | +1.66% | +2.14% | +1.88% |
| Dr. Lal Pathlabs Ltd. | Healthcare | 1.75% | ₹45.44 Cr | +1.59% | +1.12% | +0.84% |
| SEDEMAC Mechatronics Ltd. | Capital Goods | 1.75% | ₹45.66 Cr | +1.97% | — | — |
| ACME Solar Holdings Ltd. | Energy | 1.63% | ₹42.53 Cr | +1.44% | +1.09% | +1.25% |
| Bajaj Finserv Ltd. | Financial | 1.63% | ₹42.44 Cr | +1.40% | +1.55% | +1.42% |
| Nuvoco Vistas Corporation Ltd. | Materials | 1.55% | ₹40.30 Cr | +1.45% | +1.36% | +1.79% |
| Adani Ports and Special Economic Zone Ltd. | Services | 1.52% | ₹39.53 Cr | +1.67% | +1.40% | +1.15% |
| Varun Beverages Ltd. | Consumer Staples | 1.51% | ₹39.32 Cr | +1.94% | +1.64% | +1.15% |
| DCB Bank Ltd. | Financial | 1.39% | ₹36.18 Cr | +1.09% | +1.14% | +0.72% |
| company:2035 | Healthcare | 1.39% | ₹36.28 Cr | — | — | — |
| ICICI Lombard General Insurance Company Ltd. | Insurance | 1.38% | ₹35.81 Cr | +1.53% | +1.61% | +1.29% |
| HDFC Life Insurance Co Ltd. | Insurance | 1.34% | ₹34.86 Cr | +1.43% | +1.70% | +2.02% |
| Gravita India Ltd. | Metals & Mining | 1.23% | ₹31.93 Cr | +1.07% | +0.94% | +0.90% |
| 360 One Wam Ltd. | Financial | 1.21% | ₹31.61 Cr | +1.11% | +1.10% | +0.97% |
| Graphite India Ltd. | Capital Goods | 1.21% | ₹31.55 Cr | +1.22% | +0.89% | — |
| Dixon Technologies (India) Ltd. | Capital Goods | 1.11% | ₹28.96 Cr | +1.06% | — | — |
| Emmvee Photovoltaic Power Ltd. | Energy | 1.11% | ₹29.01 Cr | +1.35% | +1.00% | — |
| Lohia Corp Ltd. | Materials | 1.10% | ₹28.55 Cr | — | — | — |
| Bayer CropScience Ltd. | Chemicals | 1.04% | ₹26.97 Cr | +1.03% | +0.81% | — |
| Five-Star Business Finance Ltd. | Financial | 1.04% | ₹27.15 Cr | +0.91% | +0.67% | +0.84% |
| Hindustan Unilever Ltd. | Consumer Staples | 0.95% | ₹24.59 Cr | +1.01% | +1.08% | +1.17% |
| Bharat Heavy Electricals Ltd. | Capital Goods | 0.94% | ₹24.35 Cr | +0.86% | — | — |
| SBI Cards And Payment Services Ltd. | Financial | 0.82% | ₹21.37 Cr | — | — | — |
| Shree Cement Ltd. | Materials | 0.69% | ₹18.05 Cr | +0.99% | +2.12% | +2.26% |
| company:15039 | Consumer Discretionary | 0.57% | ₹14.88 Cr | — | — | — |
| DEE Development Engineers Ltd. | Services | 0.18% | ₹4.68 Cr | +0.08% | — | — |
| 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 |
|---|---|---|---|
| company:2035 | 0.00% | 1.39% | +1.39% |
| Bank Of Baroda | 1.36% | 0.00% | -1.36% |
| NHPC Ltd. | 1.02% | 0.00% | -1.02% |
| Dabur India Ltd. | 1.00% | 0.00% | -1.00% |
| Adani Power Ltd. | 0.91% | 0.00% | -0.91% |
| ITC Ltd. | 0.91% | 0.00% | -0.91% |
| company:15039 | 0.00% | 0.57% | +0.57% |
| Others | 2.01% | 2.56% | +0.55% |
| Bharat Forge Ltd. | 1.44% | 1.96% | +0.52% |
| PB Fintech Ltd. | 2.64% | 3.13% | +0.49% |
| One97 Communications Ltd. | 1.61% | 2.08% | +0.47% |
| Ratnamani Metals & Tubes Ltd. | 1.91% | 2.27% | +0.36% |
| Adani Energy Solutions Ltd. | 2.69% | 2.34% | -0.35% |
| Shree Cement Ltd. | 1.03% | 0.69% | -0.34% |
| Jindal Steel Ltd. | 3.49% | 3.82% | +0.33% |
| Glaxosmithkline Pharmaceuticals Ltd. | 1.69% | 1.97% | +0.28% |
| Axis Bank Ltd. | 3.63% | 3.89% | +0.26% |
| L&T Finance Ltd. | 3.07% | 3.33% | +0.26% |
| DCB Bank Ltd. | 1.17% | 1.39% | +0.22% |
| ACME Solar Holdings Ltd. | 1.46% | 1.63% | +0.17% |
| Shriram Finance Ltd | 2.30% | 2.46% | +0.16% |
| Ambuja Cements Ltd. | 2.56% | 2.41% | -0.15% |
| Gravita India Ltd. | 1.09% | 1.23% | +0.14% |
| Varun Beverages Ltd. | 1.65% | 1.51% | -0.14% |
| HDFC Bank Ltd. | 3.61% | 3.47% | -0.14% |
| Niva Bupa Health Insurance Company Ltd. | 2.30% | 2.43% | +0.13% |
| Delhivery Ltd. | 3.00% | 2.88% | -0.12% |
| Larsen & Toubro Ltd. | 2.80% | 2.91% | +0.11% |
| Marico Ltd. | 2.12% | 2.02% | -0.10% |
| Apollo Hospitals Enterprise Ltd. | 1.87% | 1.97% | +0.10% |
| Five-Star Business Finance Ltd. | 1.14% | 1.04% | -0.10% |
| Nuvoco Vistas Corporation Ltd. | 1.65% | 1.55% | -0.10% |
| Bharat Heavy Electricals Ltd. | 0.85% | 0.94% | +0.09% |
| Graphite India Ltd. | 1.12% | 1.21% | +0.09% |
| Adani Ports and Special Economic Zone Ltd. | 1.60% | 1.52% | -0.08% |
| Dixon Technologies (India) Ltd. | 1.04% | 1.11% | +0.07% |
| Oil And Natural Gas Corporation Ltd. | 2.02% | 1.95% | -0.07% |
| SEDEMAC Mechatronics Ltd. | 1.68% | 1.75% | +0.07% |
| The Ramco Cements Ltd. | 1.78% | 1.85% | +0.07% |
| Godrej Properties Ltd. | 2.48% | 2.41% | -0.07% |
| Reliance Industries Ltd. | 4.85% | 4.79% | -0.06% |
| Metropolis Healthcare Ltd. | 4.52% | 4.57% | +0.05% |
| 360 One Wam Ltd. | 1.16% | 1.21% | +0.05% |
| Bayer CropScience Ltd. | 1.09% | 1.04% | -0.05% |
| Dr. Lal Pathlabs Ltd. | 1.70% | 1.75% | +0.05% |
| Hindustan Unilever Ltd. | 1.00% | 0.95% | -0.05% |
| Lohia Corp Ltd. | 1.05% | 1.10% | +0.05% |
| Vedanta Aluminium Metal Ltd. | 1.90% | 1.94% | +0.04% |
| ICICI Lombard General Insurance Company Ltd. | 1.41% | 1.38% | -0.03% |
| Tata Steel Ltd. | 1.91% | 1.88% | -0.03% |
| Cummins India Ltd. | 2.54% | 2.57% | +0.03% |
| DEE Development Engineers Ltd. | 0.20% | 0.18% | -0.02% |
| Emmvee Photovoltaic Power Ltd. | 1.09% | 1.11% | +0.02% |
| SBI Cards And Payment Services Ltd. | 0.83% | 0.82% | -0.01% |
| Kwality Wall's (India) Ltd. | 0.01% | 0.00% | -0.01% |
| Bajaj Finserv Ltd. | 1.62% | 1.63% | +0.01% |
| Tata Nifty India Digital ETF - Growth | 0.00% | 0.00% | 0.00% |
| HDFC Life Insurance Co Ltd. | 1.34% | 1.34% | 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 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 months10.55% absolute | ₹60,000 | ₹66,330 | 10.55% | |
| 1 year1.51% annualised | ₹1,20,000 | ₹1,20,986 | 0.82% | |
| 3 years10.08% annualised | ₹3,60,000 | ₹4,21,841 | 17.18% | |
| 5 years12.36% annualised | ₹6,00,000 | ₹8,33,114 | 38.85% |
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 ₹18.58 as on 25 Sep 2026.
What is the expense ratio of Tata Business Cycle Fund?
The expense ratio of Tata Business Cycle Fund is 2.16% 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 -0.3% over 1 year, 2.6% over 3 years and 10.4% 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 61 schemes with ₹2,31,388 Cr under management.