Axis Multicap Fund leads multi-cap mutual funds in one-month returns; delivers 4.6% gain
Axis Multicap Fund delivered 4.6% returns over the last one month and 20.6% CAGR over three years, according to ACE MF data on August 12.
Moneycontrol Desk
August 13, 2026 / 14:49 IST
Axis Multicap Fund currently leads the multi-cap mutual fund category with a one-month return of 4.6 percent. It is followed by Aditya Birla SL Multi-Cap Fund and Mahindra Manulife Multi Cap Fund, which delivered returns of 3.8 percent and 3.3 percent, respectively, over the same period, according to ACE MF data on August 12.
The ranking considers only schemes with assets under management of at least Rs 1,500 crore. Among the top five funds that meet this criterion, ICICI Pru Multicap Fund has the largest corpus at Rs 18,769.0 crore.
The benchmark comparison is also important. Axis Multicap Fund was ahead of its benchmark by 3.4 percentage points on a one-month basis, with the benchmark returning 1.2%. It was also ahead of its benchmark by 12.3 percentage points on a one-year basis, with the benchmark returning 0.9%.
The same scheme also stays ahead on the six-month return chart. Axis Multicap Fund delivered 9.4 percent over this period.
A different fund moves to the top when the one-year window is used. Mahindra Manulife Multi Cap Fund leads this comparison with 14.5 percent.
There is no change at the top when the three-year window is considered. Axis Multicap Fund remains ahead with 20.6 percent.
Return rankings across mutual funds can shift when the comparison window changes. This makes it useful to read the headline return along with shorter and longer return periods.
Table: Top 5 multi-cap funds by one-month return
| Fund name | 1-month return (%) | AUM (Rs crore) | 3-month return (%) | 6-month return (%) | 1-year return (%) | 3-year return (%) |
|---|---|---|---|---|---|---|
| Axis Multicap Fund | 4.6 | 10,973.1 | 13.0 | 9.4 | 13.2 | 20.6 |
| Aditya Birla SL Multi-Cap Fund | 3.8 | 7,181.5 | 11.3 | 7.7 | 12.4 | 14.8 |
| Mahindra Manulife Multi Cap Fund | 3.3 | 7,184.3 | 10.0 | 8.9 | 14.5 | 17.6 |
| HSBC Multi Cap Fund | 3.0 | 6,067.8 | 9.8 | 8.2 | 12.4 | 19.6 |
| ICICI Pru Multicap Fund | 2.8 | 18,769.0 | 7.6 | 7.4 | 12.3 | 17.6 |
Note: The ranking considers only schemes with minimum assets under management of Rs 1,500 crore. Returns and AUM are according to ACE MF data on August 12. One-year and three-year returns are CAGR; one-month, three-month and six-month returns are absolute returns. AUM is in Rs crore.
What is a multi-cap fund?
Multi-cap funds invest across large-cap, mid-cap and small-cap stocks and are required to maintain minimum exposure across all three market-cap segments.