Only 4 of 32 multi-cap funds posted negative returns in last one year: Samco fell over 10%, Groww led with 14% gain
Multi-cap funds, which invest across large, mid and small-cap stocks, continued to see healthy inflows. The category received nearly ₹3,070 crore of net inflows in June 2026, up from around ₹2,291 crore in May 2026 and ₹2,794 crore in June 2025, according to AMFI data.
As of 30 June, there were 32 multi-cap funds in the market. Under SEBI’s categorization rules, these mutual funds must invest at least 75% of their total assets in equity and equity-related instruments. They are also required to maintain a minimum allocation of 25% each to large-cap, mid-cap and small-cap stocks.
An analysis of Value Research data shows that only four multi-cap funds gave negative returns over a one-year period, while the remaining 28 schemes delivered positive returns.
Multi-cap funds with negative 1-year returns
| Fund Name | 1-Yr Return (%) |
| Samco Multi Cap Fund | -10.13% |
| HDFC Multi Cap Fund | -1.42% |
| Invesco India Multicap Fund | -1.01% |
| SBI Multicap Fund | -0.80% |
*CAGR as on 21 July, 2026, Direct Plans, Source: Value Research
Among the 32 multi-cap schemes, Samco Multi Cap Fund was the weakest performer, delivering a negative return of 10.13% over the last year.
It was followed by HDFC Multi Cap Fund, which declined only by 1.42%, while SBI Multicap Fund posted a negative return of less than 1%.
Comparison of best and worst-performing multi-cap funds
After analysing the Value Research data, Groww Multicap Fund emerged as the best-performing multi-cap fund over the last year, delivering a 14.29% return.
The portfolio compositions of the best- and worst-performing funds show notable differences in their investment approaches. Samco Multi Cap Fund has 99.65% of its assets invested in equities, compared with 97.52% for Groww Multicap Fund.
Market cap exposure
Within its equity portfolio, Samco allocated 20.87% to large-cap stocks and 55.57% to small-cap stocks. However, Groww invested 34.60% in large-cap stocks and 41.12% in small-cap stocks.
This indicates that Samco had a higher allocation to small-cap stocks, while Groww maintained a relatively higher exposure to large-cap companies.
Sectoral exposure
On the sector front, financials were the largest exposure for both funds. Samco Multi Cap Fund had 24.13% exposure to the financial sector, followed by industrials, materials and healthcare.
Groww Multicap Fund had a higher allocation of 36.94% to financials, followed by industrials, consumer discretionary and materials.
Top holdings
The top five holdings of the two funds differ markedly, reflecting the distinct investment approaches of their fund managers.
In comparison, Groww Multicap Fund held Apar Industries, TD Power Systems, Ather Energy, Bharti Airtel, and Multi Commodity Exchange (MCX) among its top five stock holdings.
Disclaimer: This is purely for educational/ informational purposes and should not be taken as any sort of investment advice. Always consult a SEBI-registered advisor before making any investment decisions.
