HDFC Mutual Fund · Direct Growth · SEBI Category: Equity
HDFC Business Cycle Fund applies India's largest AMC's research depth to business cycle investing. HDFC MF's comprehensive equity research team — covering all major sectors in India — provides Gopal Agrawal with the analytical infrastructure to identify cycle phase transitions and execute sector rotations efficiently. The fund benefits from HDFC MF's access to company management meetings across all sectors.
HDFC MF's conservative investment culture means the business cycle fund is implemented with quality guardrails — even in aggressive cyclical phases, the portfolio targets quality businesses within the cyclical sectors rather than the cheapest or most leveraged plays. This quality approach reduces downside during sudden cycle corrections while participating meaningfully in sector upswings.
Gopal Agrawal is Senior Fund Manager at HDFC Mutual Fund and manages the HDFC Business Cycle Fund. He applies HDFC MF's research-intensive approach to identifying economic cycle phases and implementing appropriate sector rotation. Agrawal's experience across multiple equity mandates at HDFC MF provides him with comprehensive sector coverage capabilities — essential for effective business cycle investing that requires understanding of multiple sectors simultaneously.
For current co-manager details and full biography, refer to the latest HDFC Mutual Fund factsheet on AMFI or the AMC website.
Informational points to help you form your own view — not judgements or recommendations.
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| Fund | NAV | AAUM | 1Y Return | 3Y CAGR | 5Y CAGR | Sharpe (3Y) |
|---|---|---|---|---|---|---|
| ICICI Prudential Business Cycle Fund | ₹25.49 | ₹15.7K Cr Jan–Mar 2026 | +1.4% | +19.2% p.a. | +17.4% p.a. | 1.13 |
| Tata Business Cycle Fund | ₹19.98 | ₹2.6K Cr Jan–Mar 2026 | +2.2% | +17.0% p.a. | — | 0.83 |
| HDFC Business Cycle Fund ▲ | ₹14.65 | ₹2.6K Cr Jan–Mar 2026 | -0.5% | +11.3% p.a. | — | 0.48 |
| Axis Business Cycles Fund | ₹16.74 | ₹2.1K Cr Jan–Mar 2026 | +0.1% | +15.0% p.a. | — | 0.64 |
| Motilal Oswal Business Cycle Fund | ₹11.42 | ₹1.8K Cr Jan–Mar 2026 | -8.4% | — | — | — |
Calculated from 863 daily NAV records in RightAdvise DB. Last calculated: Jun 2026.
1M / 3M / 6M / 1Y — simple point-to-point return · 3Y / 5Y / 10Y — CAGR (compounded annual growth rate)
Based on all rolling windows in full NAV history. Dates show the start and end of each period.
Jan 1 to Dec 31 each year. Simple point-to-point — not CAGR.
Rolling returns show performance across every possible investment start date — not one cherry-picked number. Learn more →
How much the fund fell from its peak NAV — what investors actually experience during crashes. Calculated from full NAV history.
Calculated from actual NAV data. "Pre-inception" means the fund didn't exist during that period.
Calculated from 3 years of daily NAV — industry standard. Risk-free rate: 6.5% p.a. Last updated: Jun 2026. What do these mean? →
Our portfolio holdings page shows every stock the fund owns, sector allocation, and month-over-month changes — from official AMC disclosures.
See how HDFC Business Cycle FundOption ranks against other Equity funds on returns, drawdown, Sharpe ratio and AAUM — side by side.
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