March 26, 2026
RA Jainee
DSP Multicap Fund
| Fund at a Glance | |
| NAV Growth (Rs.) | 10.77 |
| NAV Bonus (Rs.) | — |
| NAV IDCW (Rs.) | 9.88 |
| Min. Investment (Rs.) | 100 |
| Min. SIP Investment (Rs.) | 100 |
| Min. No of Cheques | 12 |
| Benchmark | Nifty 500 Multicap 50:25:25 TRI |
| AUM Rs. | 2,635 Cr |
| (As on 28-Feb-2026) | |
| Expense | 0.54% |
| 1 Year Return (%) | -2.77 |
| 3 Year Return (%) | — |
| 5 Year Return (%) | — |
| 10 Year Return (%) | — |
| Return Since Launch | 3.56% |
⚖️ Sahifund Review – DSP Multicap Fund ✔
PLUS: Stability, track record, cost efficiency
✓ Low expense ratio of 0.54% is a clear positive and makes the fund cost-efficient for long-term SIP investors.
✓ Portfolio is well diversified with 69 stocks, reducing single-stock concentration risk.
✓ True multicap allocation with strong mid-cap and small-cap participation gives better growth potential than large-cap-heavy funds.
✓ Low turnover (12%) reflects stable portfolio construction rather than excessive churn.
✓ Backed by DSP Mutual Fund, which adds fund house credibility and comfort.
✓ Suitable for investors looking for a single diversified equity fund with meaningful exposure across market caps.
✓ SIP-friendly structure and broad allocation make it relevant for long-term wealth creation.
MINUS: Large AUM, large-cap bias, momentum lag
⚖️ 1-year return (-2.77%) is weak, and the fund has lagged the multi-cap category average recently.
⚖️ Has underperformed stronger peers like Kotak Multicap, Nippon India Multi Cap and ICICI Pru Multicap.
⚖️ Fund is still very young (just over 2 years), so long-term consistency is not yet proven.
⚖️ Heavy small-cap exposure (~40%) can increase volatility sharply during market corrections.
⚖️ Return since launch (3.56%) is not yet strong enough to inspire high conviction.
⚖️ Investors must be ready for higher ups and downs than a flexi-cap or large-cap-oriented fund.
Sahifund View (Decisive Line):
A well-structured low-cost multicap fund with good diversification — but for now, it is more a patient SIP candidate than a category leader.
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| NFO Guidance |
What lies ahead? Below we decode returns consistency, portfolio concentration, peer positioning and risk profile in detail.
Suitable For Which Investors?
Multi-cap funds are suitable for investors:
1. Seeking exposure in a diversified set of stocks for high returns
2. Aiming for long-term wealth creation
3. With a 5+ year investment horizon
4. Who are at ease with the market’s ups a nd downs
Note:
• Invest only through SIP
Fund’s Investment Strategy:
The scheme seeks to seek to generate long-term capital appreciation from a portfolio of equity and equity related securities across market capitalization.
Fund Manager:
1) Chirag Dagli
Education: Mr. Dagli has done B. COM and Chartered Accountant.
Experience: Prior to joining DSP Mutual Fund, he has worked with HDFC AMC, Aviva India Life Insurance Company Ltd., ICICI Securities Ltd., Pioneer Invest Corp, Deutsche Equities, Citigroup Global Markets.
Investment Details
| Min. Investment (Rs) | 100 |
| Min. Addl Investment (Rs) | 100 |
| Min. SIP Investment (Rs) | 100 |
| Min. Withdrawal (Rs) | — |
| Min. No of Cheques | 12 |
| Min. Balance (Rs) | — |
| Lock-in Period | NA |
| Exit Load | 1% for redemption within 12 months |
Basic Details of DSP Multicap Fund
| Fund House | DSP Mutual Fund |
| Launch Date | 30-Jan-24 |
| Return Since Launch | 3.56% |
| Benchmark | Nifty 500 Multicap 50:25:25 TRI |
| Riskometer | Very High |
| Type | Open-ended |
| Assets | 2,635 Cr |
| (As on 28-Feb-2026) | |
| Expense | 0.54% |
| (As on 28-Feb-2026) | |
| Risk Grade | — |
| Return Grade | — |
| Turnover | 12.00% |
DSP Multicap Fund Returns
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| DSP Multicap Dir | -13.66 | -3.26 | -10.95 | -13.51 | -14.46 | -2.77 | — | — | — | — |
| VR Multicap TRI | -13.92 | -3.39 | -11.68 | -14.02 | -13.12 | -3.20 | — | — | — | — |
| Equity: Multi Cap | -12.50 | -3.15 | -11.27 | -12.77 | -12.03 | -1.42 | — | — | — | — |
| Rank within category | 32 | 24 | 10 | 28 | 33 | 26 | — | — | — | — |
| Number of funds in category | 37 | 37 | 37 | 37 | 37 | 35 | 19 | 8 | 0 | 0 |
Peer Comparison of DSP Multicap Fund
| Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age | Turnover (%) | |
| DSP Multicap Dir | Unrated | -2.77 | — | — | 0.54 | 2,635 | 3.56 | 1.00 (360) | 2Y 1M | 12.00 |
| Nippon India Multi Cap Dir | 5 star | -0.05 | 19.28 | 19.54 | 0.71 | 50,820 | 15.27 | 1.00 (365) | 13Y 2M | 26.00 |
| Kotak Multicap Dir | 5 star | 4.07 | 21.83 | — | 0.45 | 23,886 | 15.02 | 1.00 (365) | 4Y 5M | 50.35 |
| HDFC Multi Cap Dir | 4 star | -2.52 | 17.14 | — | 0.79 | 19,528 | 13.9 | 1.00 (365) | 4Y 3M | 35.32 |
| ICICI Pru Multicap Dir | 4 star | -1.79 | 17.70 | 15.56 | 0.94 | 16,315 | 15.16 | 1.00 (365) | 13Y 2M | 94.00 |
DSP Multicap Fund Portfolio
| No. of Stocks | 69 |
| Top 10 Stocks | 31.14% |
| Top 5 Stocks | 17.71% |
| Top 3 Sectors | 56.85% |
| Portfolio P/B Ratio | 3.82 |
| Portfolio P/E Ratio | 26.61 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 54,400 | 92,813 |
| Giant (%) | — | — |
| Large (%) | 33.06 | 42.29 |
| Mid (%) | 27.21 | 28.30 |
| Small (%) | 39.73 | 29.41 |
| Tiny (%) | — | — |
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
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