Markets / Mutual funds / Sectoral / Thematic

Union Business Cycle Fund - Direct Plan - IDCW

NAVs of 6 Nov 2026

Union Mutual Fund · Equity fund · Direct plan · IDCW

Sectoral / ThematicDirect · IDCWRisk: Very High

NAV · 5 Nov 2026

₹12.1300 ▲ 1.59%

Union Mutual Fund

Fund size₹511 crJuly - September 2026

1-month range₹11.16 – 12.13

1 year+3.32%

Expense ratio1.78%direct plan, a year

5 years–a year

What the fund does

The Investment Objective of the Scheme is to generate long-term capital appreciation by investing with a focus on riding business cycles through allocation between sectors and stocks at different stages of business cycles in the economy. However, there is no assurance that the investment objective of the Scheme will be achieved.

BenchmarkNifty 500 Index (TRI) Nifty Benchmark Disclaimer: The “Product” offered by “the issuer” is not sponsored, endorsed, sold or promoted by NSE Indices Limited (Formerly Indian Index Services & Products Limited) (IISL). NSE Indices Limited does not make any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) and disclaims all liability to the owners of “the Product” or any member of the public regarding the advisability of investing in securities generally or in the “the Product” linked to Nifty 500 Index or particularly in the ability of the Nifty 500 Index, to track general stock market performance in India. The relationship of NSE INDICES LIMITED to the Issuer is only in respect of the licensing of the Indices and certain trademarks and trade names associated with such Indices which is determined, composed and calculated by NSE INDICES LIMITED without regard to the Issuer or the Product(s). NSE INDICES LIMITED does not have any obligation to take the needs of the Issuer or the owners of the Product(s) into consideration in determining, composing or calculating the NIFTY 500 Index. NSE INDICES LIMITED is not responsible for or has participated in the determination of the timing of, prices at, or quantities of the Product(s) to be issued or in the determination or calculation of the equation by which the Product(s) is to be converted into cash. NSE INDICES LIMITED has no obligation or liability in connection with the administration, marketing or trading of the Product(s).

Launched5 Mar 2024

Fund houseUnion Mutual Fund

Fund managersFM 1 - Mr. Harshad PatwardhanFM 2 - Mr. Pratik Dharmshi

NAV history

Returns

1 week

+5.11%avg 4.3%

1 month

+2.62%avg 2.2%

3 months

-1.54%avg -2.0%

6 months

+1.68%avg 3.1%

This year

+4.03%avg 4.2%

1 year

+3.32%avg 4.3%

Bars: this plan; the thin mark is the Sectoral / Thematic average (direct plans, growth option). Over a year: yearly averages (CAGR). Past returns do not guarantee future returns. Information only, not investment advice.

Monthly returns (%)

Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2024												+1.0
2025	-6.6	-8.1	+7.1	+1.9	+4.2	+4.0	-2.3	-1.2	+2.2	+3.6	+0.2	-1.0
2026	-1.7	+2.1	-11.9	+11.4	+2.0	+3.2	-0.4	+2.7	-5.3	-2.0	+5.7

Each month's change in NAV (the current month to the latest NAV).

What if you had invested?

Amount (₹) Started

Worked out from this plan's actual NAVs. SIP: invested on the first NAV of each month. Taxes and exit loads are not included. Past returns do not guarantee future returns. Information only, not investment advice.

Portfolio as on 31 Oct 2026

Stocks held6265 lines in all

Top 10 stocks31.9%of the fund

Short positions-0.4%sold through derivatives

Net equity95.8%long stocks and derivatives minus shorts

Where the money is

Equity 96.2%Money market 0.1%Cash & others 3.7%Short -0.4%

Sectors (stocks held)

Banks

18.9%

Pharmaceuticals & Biotechnology

7.9%

IT - Software

6.5%

Construction

6.2%

Textiles & Apparels

5.8%

Chemicals & Petrochemicals

5.6%

Auto Components

4.3%

Electrical Equipment

3.9%

Changes since 30 Sept 2026

Share of fund	31 Oct 2026	30 Sept 2026	Change
Stocks held	96.2%	94.7%	+1.52
Short positions	-0.4%	-0.3%	-0.14
Money market	0.1%	0.2%	-0.08
Cash & others	3.7%	5.2%	-1.44
Top 10 stocks	31.9%	30.7%	+1.22
Number of stocks	62	61	+1

New stocks 4

Eternal Ltd.2.59%
Syngene International Ltd.0.50%
Balkrishna Industries Ltd.0.49%
Cyient Ltd.0.22%

Stocks sold off 3

RBL Bank Ltd.was 2.04%
Hindustan Copper Ltd.was 1.01%
MTAR technologies Ltd.was 0.85%

Bought more 13

Kotak Mahindra Bank Ltd.+1.24
Bharti Airtel Ltd.+1.24
ICICI Bank Ltd.+1.01
Cemindia Projects Ltd.+0.94
Coforge Ltd.+0.81
Jindal Steel Ltd.+0.51
Hindustan Aeronautics Ltd.+0.49
Tech Mahindra Ltd.+0.46
GO Digit General Insurance Ltd.+0.41
PVR Inox Ltd.+0.37
Mphasis Ltd.+0.36
Axis Bank Ltd.+0.26
Sona Blw Precision Forgings Ltd.+0.26

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Cut back 12

Shriram Finance Ltd.-1.36
Krishna Institute of Medical Sciences Ltd.-0.74
Apollo Hospitals Enterprise Ltd.-0.73
Adani Enterprises Ltd.-0.63
Larsen & Toubro Ltd.-0.62
HDFC Bank Ltd.-0.44
HDFC Life Insurance Company Ltd.-0.35
Jindal Saw Ltd.-0.29
Hindustan Zinc Ltd.-0.27
Fusion Finance Ltd.-0.26
Dixon Technologies (India) Ltd.-0.25
Ujjivan Small Finance Bank Ltd.-0.25

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Change is in percentage points. Bought more and cut back list stocks whose share of the fund moved by at least 0.25 points. A share can also move because the price changed, not only because the fund traded.

Stocks held 62

Holding	Sector / type	% of fund
ICICI Bank Ltd. INE090A01021	Banks	7.35%
Axis Bank Ltd. INE238A01034	Banks	3.64%
Larsen & Toubro Ltd. INE018A01030	Construction	3.00%
Sona Blw Precision Forgings Ltd. INE073K01018	Auto Components	2.79%
Kotak Mahindra Bank Ltd. INE237A01036	Banks	2.60%
Eternal Ltd. INE758T01015	Retailing	2.59%
One 97 Communications Ltd. INE982J01020	Financial Technology (Fintech)	2.59%
HDFC Bank Ltd. INE040A01034	Banks	2.50%
Bharti Airtel Ltd. INE397D01024	Telecom - Services	2.42%
Navin Fluorine International Ltd. INE048G01026	Chemicals & Petrochemicals	2.41%
Sai Life Sciences Ltd. INE570L01029	Pharmaceuticals & Biotechnology	2.36%
Bharat Heavy Electricals Ltd. INE257A01026	Electrical Equipment	2.32%
Coforge Ltd. INE591G01025	IT - Software	2.32%
Solar Industries India Ltd. INE343H01029	Chemicals & Petrochemicals	2.12%
Tech Mahindra Ltd. INE669C01036	IT - Software	2.10%
Mphasis Ltd. INE356A01018	IT - Software	2.09%
Arvind Ltd. INE034A01011	Textiles & Apparels	2.04%
Reliance Industries Ltd. INE002A01018	Petroleum Products	1.97%
Tata Motors Ltd. INE1TAE01010	Agricultural, Commercial & Construction Vehicles	1.79%
Cipla Ltd. INE059A01026	Pharmaceuticals & Biotechnology	1.79%
State Bank of India INE062A01020	Banks	1.72%
Cemindia Projects Ltd. INE686A01026	Construction	1.61%
Jindal Saw Ltd. INE324A01032	Industrial Products	1.58%
Dixon Technologies (India) Ltd. INE935N01020	Consumer Durables	1.57%
GE Vernova T&D India Ltd. INE200A01026	Electrical Equipment	1.54%
Power Mech Projects Ltd. INE211R01019	Construction	1.54%
PVR Inox Ltd. INE191H01014	Entertainment	1.51%
Aurobindo Pharma Ltd. INE406A01037	Pharmaceuticals & Biotechnology	1.51%
Jindal Steel Ltd. INE749A01030	Ferrous Metals	1.41%
360 ONE WAM Ltd. INE466L01038	Capital Markets	1.41%
Dr. Lal Path labs Ltd. INE600L01024	Healthcare Services	1.32%
Indo Count Industries Ltd. INE483B01026	Textiles & Apparels	1.31%
Hindustan Aeronautics Ltd. INE066F01020	Aerospace & Defense	1.24%
Cummins India Ltd. INE298A01020	Industrial Products	1.19%
Devyani International Ltd. INE872J01023	Leisure Services	1.19%
Zen Technologies Ltd. INE251B01027	Aerospace & Defense	1.14%
Mankind Pharma Ltd. INE634S01028	Pharmaceuticals & Biotechnology	1.13%
Data Patterns (India) Ltd. INE0IX101010	Aerospace & Defense	1.12%
HDFC Life Insurance Company Ltd. INE795G01014	Insurance	1.09%
Ujjivan Small Finance Bank Ltd. INE551W01018	Banks	1.07%
Cholamandalam Investment & Finance Co. Ltd. INE121A01024	Finance	1.04%
Gokaldas Exports Ltd. INE887G01027	Textiles & Apparels	1.03%
Interglobe Aviation Ltd. INE646L01027	Transport Services	1.03%
Aarti Industries Ltd. INE769A01020	Chemicals & Petrochemicals	1.02%
ZF Commercial Vehicle Control Systems India Ltd. INE342J01019	Auto Components	1.01%
Shriram Finance Ltd. INE721A01047	Finance	0.94%
Apollo Hospitals Enterprise Ltd. INE437A01024	Healthcare Services	0.85%
Delhivery Ltd. INE148O01028	Transport Services	0.83%
Fusion Finance Ltd. INE139R01012	Finance	0.83%
Adani Enterprises Ltd. INE423A01024	Metals & Minerals Trading	0.82%
K.P.R. Mill Ltd. INE930H01031	Textiles & Apparels	0.82%
GO Digit General Insurance Ltd. INE03JT01014	Insurance	0.75%
Welspun Corp Ltd. INE191B01025	Industrial Products	0.67%
Corona Remedies Ltd. INE02ZQ01018	Pharmaceuticals & Biotechnology	0.63%
Krishna Institute of Medical Sciences Ltd. INE967H01025	Healthcare Services	0.61%
Filatex India Ltd. INE816B01035	Textiles & Apparels	0.59%
Angel One Ltd. INE732I01021	Capital Markets	0.54%
Wockhardt Ltd. INE049B01025	Pharmaceuticals & Biotechnology	0.51%
Syngene International Ltd. INE398R01022	Healthcare Services	0.50%
Balkrishna Industries Ltd. INE787D01026	Auto Components	0.49%
Hindustan Zinc Ltd. INE267A01025	Non - Ferrous Metals	0.47%
Cyient Ltd. INE136B01020	IT - Services	0.22%

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Short positions 1

Holding	Sector / type	% of fund
Net Receivable / Payable	–	-0.39%

Debt, money market and cash 2

Holding	Sector / type	% of fund
TREPS	–	4.11%
91 Day Treasury Bills IN002026X255	Sovereign	0.09%

From the fund house's monthly portfolio (unionmf.com), as on 31 Oct 2026. Percentages are of the fund's net assets; short positions are negative. Published about ten days after each month ends.

Risk

Volatility16.0%yearly, from daily NAVs

Worst fall-19.84%27 Sept 2024 → 28 Feb 2025

RiskometerVery HighVery High

Volatility: how much the NAV moves, as a yearly figure (higher = bumpier). Worst fall: the biggest drop from a high, in the NAV history we hold (from 15 Mar 2024).

Where it can invest (limits from the scheme document)

Equity and Equity Related Instruments selected on the basis of business cycle

80–100%

of total assets, Equity & Equity related instruments of entity(ies) other than the above entity(ies)

0–20%

of total assets,Money Market Instruments, Other Liquid Instruments and other assets as permitted by SEBI

0–20%

of total assets and Units issued by InvITs

0–10%

The ranges the fund is allowed to hold, not what it holds today.

Fund details

Fund size (average AUM, July - September 2026)	₹511 cr across all plans · this plan ₹0.09 cr
Fund house	Union Mutual Fund
Category	Equity · Sectoral / Thematic
Plan	Direct
Option	IDCW
Expense ratio (TER)	Direct 1.78% · Regular 3.03% (5 Nov 2026)
Exit load	1% if units are redeemed/switched out on or before completion of 1 year from the date of allotment. Nil if redeemed or switched out after completion of 1 year from the date of allotment of units.
Minimum investment	₹1,000 · additional ₹1,000
Scheme code (AMFI)	152410
ISIN	INF582M01JR8
NAV date	5 Nov 2026

Scheme details from the fund's scheme summary document filed with AMFI; expense ratios from AMFI's daily filings.

Other plans of this fund

Plan	NAV	1 year
Direct · Growth	₹12.1300	+3.32%
Regular · Growth	₹11.7100	+2.18%
Regular · IDCW	₹11.7100	+2.18%

Top Sectoral / Thematic funds (direct plans)

Fund	1 year	3 years (a year)
Nippon India Taiwan Equity Fund	+49.17%	+45.49%
HDFC Defence Fund	+18.82%	+35.64%
HDFC Pharma and Healthcare Fund	+26.22%	+31.34%
SBI HEALTHCARE OPPORTUNITIES FUND	+20.99%	+25.54%
HDFC Transportation and Logistics Fund	+9.04%	+25.47%
Mirae Asset Healthcare Fund	+22.03%	+24.65%
UTI - Healthcare Fund	+17.27%	+24.46%
ICICI PRUDENTIAL TRANSPORTATION AND LOGISTICS FUND	+10.66%	+22.89%

All Sectoral / Thematic funds ranked › · Compare with others ›

← All mutual funds

Information only, not investment advice.

What is the NAV of Union Business Cycle Fund - Direct Plan - IDCW today?

₹12.1300 as of 5 Nov 2026, from AMFI's official NAV data.

What are the returns of Union Business Cycle Fund - Direct Plan - IDCW?

1 year: 3.32%

What is the difference between direct and regular plans?

Both invest in the same portfolio. Direct plans are bought straight from the fund house and pay no distributor commission, so their expenses are lower and their NAV grows slightly faster.