Multi Cap Fund
SEBI Risk: Very High
AMC: Nippon India Mutual Fund
Nippon India Multi Cap Fund - Direct Plan - Growth
Benchmark: NIFTY 500 Multicap 50:25:25 TRI • Manager: Sailesh Raj Bhan • Portfolio Date: 2026-09-30
Composite Health Score
85.9/100
INSTITUTIONAL_ALPHA
🔒 Deep Dive
Look-Through Forensics & Audit Narrative
The free report already shows fees, active share, holdings and the headline health score. The Deep Dive opens up what sits underneath the portfolio.
- Weighted moat score and the top compounder holdings
- Look-through accounting risk (ASRI) and promoter pledge exposure, with the flagged holdings named
- Weighted margin of safety: is the portfolio at a DCF discount or premium
- The written 7-pillar audit narrative, and the Forensic Desk can answer questions on all of it
One-time, permanent for this scheme
01: Dual-Sleeve Constituent Decomposition
Equity holdings evaluated via Forensic Equity Engine; Debt/bonds evaluated via Credit & Solvency Engine.
Equity: 29.5% (Score: 80.9)
Debt: 0.0% (Score: 0.0)
Cash / TREPS: 10.5%
| Identifier | Security Name | Type | Weight | Sector / Rating | Engine Score | Diagnostic Notes |
|---|---|---|---|---|---|---|
| TREPS | TREPS Cash | CASH_EQUIVALENT | 10.5% | CASH | 100.0 | Liquid Cash / Sovereign Collateral |
| HDFCBANK ↗ | HDFC Bank Ltd | EQUITY | 6.5% | Private Banks | 82.0 | Verified 7-Pillar Equity Dossier Available |
| ICICIBANK ↗ | ICICI Bank Ltd | EQUITY | 5.8% | Private Banks | 82.0 | Verified 7-Pillar Equity Dossier Available |
| RELIANCE ↗ | Reliance Industries Ltd | EQUITY | 5.2% | Energy & Petrochemicals | 82.0 | Verified 7-Pillar Equity Dossier Available |
| BHARATFORG ↗ | Bharat Forge Ltd | EQUITY | 3.5% | Auto Ancillary | 76.0 | Solid Core Holding (Pending 7-Pillar Audit) |
| MAXHEALTH ↗ | Max Healthcare Institute | EQUITY | 3.2% | Healthcare Services | 78.0 | Solid Core Holding (Pending 7-Pillar Audit) |
| ELECON ↗ | Elecon Engineering Ltd | EQUITY | 2.8% | Heavy Electricals | 82.0 | Verified 7-Pillar Equity Dossier Available |
| PRINCEPIPE ↗ | Prince Pipes and Fittings | EQUITY | 2.5% | Building Products | 82.0 | Verified 7-Pillar Equity Dossier Available |
02: True Diversification & Active Share
Exposing Closet Indexing: Active Share AS = 0.5 × ∑|w_fund - w_bench|
Active Share Score
71.0%
TRUE_ACTIVE_ALPHA
High Active Share: Portfolio significantly deviates from the passive benchmark, justified active fee.
Top 10 Holdings Concentration:
40.0%
03 & 04: Risk-Adjusted Alpha & Downside Capture
Evaluating asymmetrical compounding: Downside Capture Ratio vs Upside Capture Ratio.
Sortino Ratio
1.86
Downside Risk Only
Downside Capture
70.0%
Benchmark: ≤ 75%
Capture Spread
+32.0%
UCR (102.0%) - DCR
Hurst Exponent (H)
0.61
Persistent Momentum
3-Year Rolling Return Consistency:
81.5% of windows
05: Intermediary Fee Drag & Wealth Destruction
Direct Plan vs Regular Plan: Compounded wealth transfer to distributor commissions over time.
Annual Distributor Commission Drag
80.0 bps / yr (1.62% - 0.82%)
| Time Horizon | Direct Plan Value (Net) | Regular Plan Value (Net) | Cumulative Wealth Lost | Percentage Corpus Destroyed |
|---|---|---|---|---|
| 5 Years | ₹1,698,765 | ₹1,638,521 | -₹60,244 | 3.5% |
| 10 Years | ₹2,885,803 | ₹2,684,750 | -₹201,053 | 7.0% |
| 15 Years | ₹4,902,302 | ₹4,399,019 | -₹503,283 | 10.3% |
| 20 Years | ₹8,327,860 | ₹7,207,884 | -₹1,119,975 | 13.4% |
💡 Fiduciary Takeaway: A ₹10.0 Lakh investment loses ₹201,053 over 10 years purely to distributor commissions in the Regular plan.
Forensic Intelligence Desk
SEBI RA Sec. 2(u):
Descriptive diagnostics & Pre-Mortem stress-testing only. Non-advisory software utility.
Forensic Desk
⌘K