March 31, 2026
RA Jainee
Motilal Oswal Business Cycle Fund
| Fund at a Glance | |
| NAV Growth (Rs.) | 10.47 |
| NAV Bonus (Rs.) | — |
| NAV IDCW (Rs.) | 10.47 |
| Min. Investment (Rs.) | 500 |
| Min. SIP Investment (Rs.) | 500 |
| Min. No of Cheques | 12 |
| Benchmark | NIFTY 500 TRI |
| AUM Rs. | 1,674 Cr |
| (As on 28-Feb-2026) | |
| Expense | 1.53% |
| 1 Year Return (%) | -10.87 |
| 3 Year Return (%) | — |
| 5 Year Return (%) | — |
| 10 Year Return (%) | — |
| Return Since Launch | 2.98% |
⚖️ Sahifund Review – Motilal Oswal Business Cycle Fund ✔
PLUS: High-conviction strategy, cyclical opportunity, credible fund house
✓ Motilal Oswal Business Cycle Fund follows a high-conviction thematic strategy, designed to benefit from changing sector and economic cycles, which can create strong alpha in the right phase.
✓ The portfolio is relatively concentrated with 23 stocks, allowing the fund manager to take sharper calls instead of spreading money too thin.
✓ Allocation is spread across large, mid and small caps, giving it flexibility to capture business-cycle-led opportunities across segments.
✓ Motilal Oswal AMC is known for its high-conviction investing style, which can suit aggressive long-term investors who understand thematic funds.
✓ This category can become attractive during economic recovery and sector rotation phases, making SIP investing more sensible than lump-sum timing.
MINUS: Weak performance, very expensive, extremely high churn
⚖️ The fund’s actual performance has been disappointing so far, with -10.87% 1-year return, significantly worse than benchmark and category peers.
⚖️ Expense ratio at 1.53% is very high for a new fund, which can become a drag if alpha does not improve meaningfully.
⚖️ Turnover is an extremely high 238%, which signals aggressive churn and increases both execution risk and volatility.
⚖️ Being a very new thematic fund, it lacks a long-term track record and carries elevated risk due to concentration + high valuation (P/E 38.65).
Sahifund View (Decisive Line):
Motilal Oswal Business Cycle Fund is a high-risk thematic idea with potential only for patient SIP investors, but right now its performance and cost profile do not justify aggressive allocation.
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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?
Business Cycle funds are suitable for investors:
1. Seeking exposure in a diversified set of stocks with a focus on riding business cycles 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 to achieve long term capital appreciation by predominantly investing in equity and equity related instruments of companies by investing with a focus on riding business cycles through allocation between sectors and stocks at different stages of business cycles.
Fund Manager:
1) Ankit Agarwal
Education: Mr. Agarwal has done B. Tech. Computer Science and Engg., Economics Management, PGDM Finance.
Experience: Prior to joining Motilal Oswal Mutual Fund he has worked with UTI Mutual Fund, Centrum Capital Ltd as Senior Vice President – Fund Manager, Wealth and Investment Management at Barclays as Asst Vice President, Lehman Brothers, London as Senior analyst, BNP Paribas and D. E. Shaw & Co..
2) Atul Mehra
Education: Mr. Mehra has done B.Com, Master’s Degree in Accounting and CFA
Experience: Prior to joining Motilal Oswal Mutual Fund, he has worked with Edelweiss Capital Ltd
Fund Manager:
3) Varun Sharma
Education: Mr. Sharma is a Bachelor in Business Studies from Sukhdev College of Business Studies, University of Delhi and holds a Post Graduate Diploma in Management from IIM – Calcutta.
Experience: Prior to joining Motilal Oswal Asset management, he has worked with Franklin Templeton Asset Management (India) Pvt. Ltd. ICICI Securities (Feb 2010 – August 2014) as an Equity research Analyst and Credit Analysis and Research Limited (Apr 2009 – Feb 2010) as a Ratings Analyst.
4) Rakesh Shetty
Education: Mr. Shetty has done B.Com
Experience: Prior to joining Motilal Oswal Mutual Fund, he has worked with Company engaged in Capital Market Business wherein he was in charge of equity and debt ETFs, customized indices and has also been part of product development.
Investment Details
| Min. Investment (Rs) | 500 |
| Min. Addl Investment (Rs) | 500 |
| Min. SIP Investment (Rs) | 500 |
| Min. Withdrawal (Rs) | 500 |
| Min. No of Cheques | 12 |
| Min. Balance (Rs) | — |
| Lock-in Period | NA |
| Exit Load | 1% for redemption within 365 days |
Basic Details of Motilal Oswal Business Cycle Fund
| Fund House | Motilal Oswal Mutual Fund |
| Launch Date | 27-Aug-24 |
| Return Since Launch | 2.98% |
| Benchmark | NIFTY 500 TRI |
| Riskometer | Very High |
| Type | Open-ended |
| Assets (Rs.) | 1,674 Cr |
| (As on 28-Feb-2026) | |
| Expense | 1.53% |
| (As on 28-Feb-2026) | |
| Risk Grade | — |
| Return Grade | — |
| Turnover | 238.00% |
Motilal Oswal Business Cycle Fund Returns
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Motilal Oswal Business Cycle Dir | -17.65 | -1.70 | -6.55 | -18.19 | -16.28 | -10.87 | — | — | — | — |
| BSE 500 TRI | -11.93 | -2.10 | -9.30 | -11.58 | -7.40 | -1.25 | — | — | — | — |
| Equity: Thematic-Business Cycle | -11.07 | -1.93 | -8.79 | -10.82 | -8.18 | -0.53 | — | — | — | — |
| Rank within category | 18 | 5 | 2 | 18 | 18 | 18 | — | — | — | — |
| Number of funds in category | 18 | 19 | 18 | 18 | 18 | 18 | 8 | 2 | 1 | 1 |
Peer Comparison of Motilal Oswal Business Cycle 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 (%) | |
| Motilal Oswal Business Cycle Dir | Unrated | -10.87 | — | — | 1.53 | 1,674 | 2.98 | 1.00 (365) | 1Y 7M | 238.00 |
| ICICI Pru Business Cycle Dir | Unrated | 3.18 | 21.00 | 18.32 | 0.73 | 16,202 | 18.66 | 1.00 (30) | 5Y 2M | 32.00 |
| Kotak Business Cycle Dir | Unrated | 3.53 | 17.41 | — | 0.63 | 3,054 | 13.34 | 0.50 (90) | 3Y 6M | 24.48 |
| Tata Business Cycle Dir | Unrated | -2.72 | 17.04 | — | 0.58 | 2,695 | 13.62 | 0.50 (30) | 4Y 7M | 58.01 |
| HDFC Business Cycle Dir | Unrated | -2.90 | 12.32 | — | 1.07 | 2,650 | 9.34 | 1.00 (365) | 3Y 4M | 61.10 |
Motilal Oswal Business Cycle Fund Portfolio
| No. of Stocks | 23 |
| Top 10 Stocks | 66.66% |
| Top 5 Stocks | 38.60% |
| Top 3 Sectors | 62.82% |
| Portfolio P/B Ratio | 4.94 |
| Portfolio P/E Ratio | 38.65 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 70,548 | 1,27,675 |
| Giant (%) | — | — |
| Large (%) | 36.72 | 53.15 |
| Mid (%) | 34.13 | 24.25 |
| Small (%) | 29.15 | 22.59 |
| Tiny (%) | — | — |
Apply Online: https://www.motilaloswalmf.com/mutualfund/login OR https://www.motilaloswalmf.com/mutual-funds
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
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