As the Groww Multicap Fund completes its first year since launch in December 2024, it offers an overview of how a newly introduced multicap scheme handled a period marked by shifting market leadership, cautious sentiment and global uncertainty. Over the past twelve months, equity markets contended with uneven earnings recovery, evolving macroeconomic signals, tariff-related trade developments and bouts of geopolitical tension — all of which contributed to volatility across segments.
The fund reported around 7.2% returns over the one-year period ahead of the Nifty 500 Multicap 50:25:25 Index, which returned 0.29% during the same timeframe. This amounts to an outperformance of over seven percentage points. On a year-to-date basis, the scheme delivered around 8% gains, at a time when major benchmark indices remained largely range-bound. The Nifty 50 rose 4.83%, the Nifty 500 gained 0.93%, while mid and small caps saw mixed outcomes, with the Nifty Midcap 100 up 0.45% and the Nifty Smallcap 250 declining.
The fund’s first year coincided with an environment shaped by the Reserve Bank of India’s rate cuts, shifting global trade duties and intermittent geopolitical uncertainty. Publicly available performance data indicates that the fund emerged as one of the better-performing multicap schemes in 2025 on both a one-year and year-to-date basis, reflecting how it positioned its portfolio through a changing landscape.
Portfolio disclosures point to allocations across automobiles, capital goods, infrastructure-linked companies and financial services — sectors that have played a notable role in India’s domestic growth story over the past year. These areas were influenced by sustained capital expenditure momentum, evolving consumption patterns and continued activity within the lending ecosystem.
Source : November Factsheet, Groww Mutual Fund
A key aspect of the scheme’s debut year was its adherence to a diversified multicap structure. The fund maintained exposure across large-, mid- and small-cap stocks without tilting toward any single segment, even during phases when certain pockets of the market corrected more sharply. This suggests an approach geared toward capturing opportunities across the breadth of the market rather than reacting to short-term rotation.
According to publicly available fund documents, the scheme is managed by Anupam Tiwari and Saptarshee Chatterjee, both experienced equity managers who guided the portfolio through its first year amid evolving macro and market conditions.
Although the fund has delivered a notable first year and showcased its ability to navigate a volatile market, it is still early in its journey. Its performance across multiple market conditions will be clearer over time, and investors should consider their own financial goals or seek professional advice before deciding whether the scheme or the multicap category aligns with their needs.
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