Baroda BNP Paribas Business Cycle Fund
The scheme seeks to generate long term capital appreciation for investors by investing predominantly in equity and equity related securities with a focus on riding business cycles through dynamic allocation between various sectors and stocks at different stages of business cycles in the economy.
Growthvine rating: 4/5 — ranked #40 of 186 in category.
Fund basics
| Category | Equity: Thematic |
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| NAV | ₹14.96 (as of 2026-10-23) |
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| AUM | ₹535 Cr |
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| Expense ratio | 2.07% |
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| Riskometer | Very High |
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| Fund manager | Ankeet Pandya |
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| Exit load | For units in excess of 10% of the investment, 1% will be charged for redemption within 365 days |
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Performance & risk
| 5-year annualised return | 9.20% |
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| Sharpe ratio | 0.35 |
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| Standard deviation | 16.30% |
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| Max drawdown | −20.79% |
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| Alpha | 1.46 |
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| Beta | 1.02 |
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Over 5 years, captured 103.8% of Nifty 500's upside and 104.2% of its downside.
Market cap allocation
| Large cap | 69.2% |
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| Mid cap | 16.3% |
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| Small cap | 14.5% |
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Concentration
| Top 5 holdings | 24.7% |
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| Top 10 holdings | 38.7% |
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| Total holdings | 53 |
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Top holdings
- ICICI Bank Ltd. — 5.9%
- Clearing Corporation of India Ltd — 5.8%
- HITACHI ENERGY INDIA LIMITED — 5.2%
- Reliance Industries Ltd — 4.9%
- HDFC Bank Ltd. — 4.5%
- Larsen & Toubro Limited — 4.1%
- Sun Pharmaceutical Industries Ltd. — 3.2%
- Divis Laboratories Ltd. — 3.1%
- Bharat Heavy Electricals Ltd. — 2.8%
- Kotak Mahindra Bank Ltd. — 2.5%
Top sectors
- Banking & Financial — 20.5%
- Automobile — 8.3%
- Electricals — 8.0%
Calendar-year track record
| Year | Return | Quartile | Category rank |
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| 2026 (partial) | −7.0% | Q3 | #86 of 167 |
| 2025 | 0.8% | Q3 | #93 of 132 |
| 2024 | 20.5% | Q2 | #40 of 86 |
| 2023 | 31.0% | Q2 | #29 of 66 |
| 2022 | 1.4% | Q3 | #29 of 55 |