HSBC Multi Cap Fund leads multi-cap mutual funds in three-year CAGR returns; delivers 20.9% gain
HSBC Multi Cap Fund delivered 20.9% CAGR returns over three years and 6.7% CAGR over the last one year, according to ACE MF data on June 24.
Moneycontrol Desk
June 25, 2026 / 10:34 IST
Among multi-cap mutual funds that meet the screen used for this ranking, HSBC Multi Cap Fund is at the top on three-year CAGR returns. The fund delivered 20.9 percent, ahead of Kotak Multicap Fund at 20.7 percent and Axis Multicap Fund at 19.8 percent, according to ACE MF data on June 24.
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, Kotak Multicap Fund has the largest corpus at Rs 26,249.4 crore.
The benchmark comparison is also important. HSBC Multi Cap Fund was ahead of its benchmark by 10.9 percentage points on a three-year basis, with the benchmark returning 10.0%. It was also ahead of its benchmark by 9.6 percentage points on a one-year basis, with the benchmark returning -2.9%.
The order changes on a one-month basis. Mahindra Manulife Multi Cap Fund delivered the strongest return among these five schemes at 3.7 percent.
A different fund moves to the top when the three-month window is used. ICICI Pru Multicap Fund leads this comparison with 17.2 percent.
A different fund moves to the top when the one-year window is used. ICICI Pru Multicap Fund leads this comparison with 8.4 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 three-year CAGR return
| Fund name | 3-year return (%) | AUM (Rs crore) | 1-month return (%) | 3-month return (%) | 6-month return (%) | 1-year return (%) |
|---|---|---|---|---|---|---|
| HSBC Multi Cap Fund | 20.9 | 5,620.8 | 3.6 | 15.7 | 3.6 | 6.7 |
| Kotak Multicap Fund | 20.7 | 26,249.4 | 3.5 | 11.6 | -0.3 | 7.2 |
| Axis Multicap Fund | 19.8 | 9,937.6 | 3.7 | 13.8 | 2.3 | 5.1 |
| ICICI Pru Multicap Fund | 19.1 | 17,675.8 | 2.6 | 17.2 | 6.4 | 8.4 |
| Mahindra Manulife Multi Cap Fund | 18.9 | 6,643.1 | 3.7 | 15.1 | 4.9 | 7.4 |
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 June 24. 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.