April 30, 2026
RA Jainee
LIC MF Flexi Cap Fund
| Fund at a Glance | |
| NAV Growth (Rs.) | 105.21 |
| NAV Bonus (Rs.) | — |
| NAV IDCW (Rs.) | 35.4 |
| Min. Investment (Rs.) | 5,000 |
| Min. SIP Investment (Rs.) | 200 |
| Min. No of Cheques | 30 |
| Benchmark | NIFTY 500 TRI |
| AUM Rs. | 895 Cr |
| (As on 31-Mar-2026) | |
| Expense | 1.65% |
| 1 Year Return (%) | 5.77 |
| 3 Year Return (%) | 13.75 |
| 5 Year Return (%) | 12.79 |
| 10 Year Return (%) | 11.29 |
| Return Since Launch | 12.19% |
⚖️ Sahifund Review – LIC MF Flexi Cap Fund ✔
PLUS:
• Long track record (since 2013) provides cycle-tested performance visibility
• Decent diversification with ~69 stocks, reducing concentration risk
• Flexi-cap strategy allows allocation across large, mid and small caps
• Strong smallcap exposure (~39%) offers potential for higher alpha
• Suitable for SIP investors with long-term horizon
• Backed by established institution LIC Mutual Fund
• Balanced sector exposure (~52% top sectors) limits extreme concentration
• Category relevance remains high for diversified equity investors
MINUS:
• Consistent underperformance vs benchmark and peers across 3Y, 5Y and 10Y
• High expense ratio (~1.65%) significantly reduces net returns
• Weak return grade and low category ranking in most periods
• High turnover (~89%) indicates aggressive churn without commensurate returns
• Lacks strong momentum despite favorable market conditions
• Below-average risk-adjusted returns compared to top flexicap funds
• Portfolio strategy not translating into alpha generation
• Volatility remains high due to smallcap exposure without performance support
Sahifund View (Decisive Line):
Despite a long track record, persistent underperformance and high costs make this fund suitable only for existing SIP investors—new investors should prefer better-performing flexicap alternatives.
👉 Apply Online | Ask Us MF Queries |
| NFO Guidance |
What lies ahead? Below we decode returns consistency, portfolio concentration, peer positioning and risk profile in detail.
Suitable For Which Investors?
Flexi-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 and downs
Note:
• Invest only through SIP
Fund’s Investment Strategy:
The scheme seeks maximum possible capital growth consistent with reasonable levels of safety with predominant investment in equity, it may also take exposure in debt market securities. It was made in to an open-ended scheme from April 1998.
Fund Manager:
1) Sudhanshu Asthana
Education: Mr. Asthana is a M.A (Economics) from Mumbai University and PGDM (Investment Management) from NMIMS.
Experience: Prior to joining LIC MF, he has worked with UTI Mutual Fund, Tamohara Investment Managers, Axis Mutual Fund, Barclays Wealth Management, SBI Mutaul Fund, Quantum Mutual Fund and BRICS Securities Ltd.
Investment Details
| Min. Investment (Rs) | 5,000 |
| Min. Addl Investment (Rs) | 500 |
| Min. SIP Investment (Rs) | 200 |
| Min. Withdrawal (Rs) | 500 |
| Min. No of Cheques | 30 |
| Min. Balance (Rs) | — |
| Lock-in Period | NA |
| Exit Load | For units in excess of 12% of the investment, 1% will be charged for redemption within 3 months |
Basic Details of LIC MF Flexi Cap Fund
| Fund House | LIC Mutual Fund |
| Launch Date | 01-Jan-13 |
| Return Since Launch | 12.19% |
| Benchmark | NIFTY 500 TRI |
| Riskometer | Very High |
| Type | Open-ended |
| Assets | 895 Cr |
| (As on 31-Mar-2026) | |
| Expense | 1.65% |
| (As on 31-Mar-2026) | |
| Risk Grade | Above Average |
| Return Grade | Below Average |
| Turnover | 89.00% |
LIC MF Flexi Cap Fund Returns
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| LIC MF Flexi Cap Dir | -7.14 | -0.93 | 6.93 | -1.50 | -7.38 | 5.77 | 13.75 | 12.79 | 12.68 | 11.29 |
| BSE 500 TRI | -5.46 | -1.05 | 7.12 | -0.60 | -4.62 | 2.46 | 15.49 | 14.24 | 14.03 | 14.31 |
| Equity: Flexi Cap | -3.95 | -0.96 | 7.59 | 0.66 | -4.02 | 3.42 | 16.77 | 14.82 | 14.27 | 14.47 |
| Rank within category | 105 | 41 | 78 | 89 | 100 | 24 | 62 | 45 | 32 | 35 |
| Number of funds in category | 115 | 120 | 120 | 116 | 112 | 97 | 75 | 58 | 45 | 36 |
Peer Comparison of LIC MF Flexi Cap 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 (%) | |
| LIC MF Flexi Cap Dir | 2 star | 5.77 | 13.75 | 12.79 | 1.65 | 895 | 12.19 | 1.00 (90) | 13Y 3M | 89.00 |
| Parag Parikh Flexi Cap Dir | 5 star | 3.07 | 18.10 | 17.22 | 0.62 | 1,28,966 | 18.59 | 2.00 (365) | 12Y 11M | 17.91 |
| HDFC Flexi Cap Dir | 5 star | 2.54 | 20.50 | 21.01 | 0.68 | 91,335 | 16.02 | 1.00 (365) | 13Y 3M | 9.40 |
| SBI Focused Dir | 4 star | 13.75 | 20.00 | 16.33 | 0.77 | 39,739 | 15.68 | 0.25 (30) | 13Y 3M | 31.00 |
| HDFC Focused Dir | 5 star | 2.24 | 20.21 | 22.49 | 0.65 | 24,170 | 14.91 | 1.00 (365) | 13Y 3M | 7.23 |
LIC MF Flexi Cap Fund Portfolio
| No. of Stocks | 69 |
| Top 10 Stocks | 29.58% |
| Top 5 Stocks | 18.17% |
| Top 3 Sectors | 52.13% |
| Portfolio P/B Ratio | 3.36 |
| Portfolio P/E Ratio | 24.68 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 58,244 | 1,58,152 |
| Giant (%) | — | — |
| Large (%) | 40.60 | 61.70 |
| Mid (%) | 20.43 | 22.15 |
| Small (%) | 38.96 | 16.66 |
| Tiny (%) | — | — |
Apply Online: https://online.licmf.com or https://www.licmf.com/fund-overview/All
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
Quicklinks