Bank of India Business Cycle Fund

ThematicDirect and Regular plans, Growth and IDCW options

Data as on 30-10-2026

Bank of India Business Cycle Fund is a Thematic fund run by Bank of India Mutual Fund. On 30-09-2026, it managed ₹437 Cr of investors' money. In the year to 30-10-2026, its Direct plan returned −2.5% and its Regular plan returned −3.8%. Its benchmark, Nifty 500 TRI, returned −7.3% over the same year.

NAV (Direct plan): ₹9.36; ▼ 0.85%30-10-2026
NAV (Regular plan): ₹9.11; ▼ 0.87%30-10-2026
Expense ratio: 1.37%Direct2.65%Regular; 1.37%; A year
Riskometer: Very High; Set by the fund house
1 year return: −2.5%Direct−3.8%Regular; −2.5%; Total

Bank of India Business Cycle Fund NAV Today

NAV on 30-10-2026: Direct Plan Growth ₹9.36 (down 0.85% that day); Regular Plan Growth ₹9.11 (down 0.87% that day).

This fund (Direct plan)

₹9.36

Bank of India Business Cycle Fund Returns vs Nifty 500 TRI

Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

Trailing returns
Period	1M	3M	6M	1Y	3Y	5Y	10Y
This fund (Direct)	−3.80%	−3.11%	0.00%	−2.50%	--	--	--
This fund (Regular)	−3.90%	−3.50%	−0.65%	−3.80%	--	--	--
Nifty 500 TRI	−0.75%	−6.05%	−2.83%	−7.34%	+10.22%	+8.81%	+12.51%
Thematic average	−2.09%	−4.52%	+0.86%	−1.22%	--	--	--
Best in Thematic	+11.54%	+11.27%	+22.16%	+75.71%	--	--	--
Worst in Thematic	−16.05%	−11.74%	−13.97%	−22.44%	--	--	--
Rank in Thematic	177/235	64/232	108/232	93/215	--	--	--

Category rows compare the Direct plans of 235 Thematic funds. Rank 1 is the highest return.

Bank of India Business Cycle Fund Year-wise Returns

Return of each calendar year
Year	Direct	Regular	Nifty 500 TRI
2026to date	+2.52%	+1.45%	−7.51%
2025	−7.40%	−8.55%	+7.76%

Bank of India Business Cycle Fund Rolling Returns

The return of every holding period in the fund's history, not only the one that ends today

Rolling returns

Each point is the yearly return of one 1-year holding period, plotted on the day it ended. There are 285 periods, one for each trading day from 02-09-2025 to 30-10-2026.

−15%−10%−5%0%5%10%15%20%

Oct 2024
to
Oct 2025Dec 2024
to
Dec 2025Feb 2025
to
Feb 2026May 2025
to
May 2026Jul 2025
to
Jul 2026Sept 2025
to
Sept 2026

Bank of India Business Cycle Fund (Direct)Nifty 500 TRI

Every holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Benchmark median	Beat benchmark
1 year	285	1.8%	−13.3%	12.6%	43%	2.6%	45%
2 years	38	−1.6%	−4.0%	−0.0%	100%	−2.0%	61%

Lumpsum: the yearly rate (CAGR) from the NAV on a period's first day to the NAV on its last. SIP: the XIRR of the monthly instalments and their value on the last day. "With a loss" counts the periods that ended below the money put in. "Beat benchmark" counts the periods in which the fund did better than Nifty 500 TRI over the same days. Past returns do not promise future returns.

Bank of India Business Cycle Fund Risk

How much it swings, and the falls an investor had to sit through

Risk and return

Measure	Bank of India Business Cycle Fund (Direct)This fund	Nifty 500 TRI
Return (CAGR)	−2.50%	−7.34%
Standard deviation	14.43%	14.48%
Sharpe ratio	-0.54	-0.87
Sortino ratio	-0.72	-1.16
Maximum drawdown	−15.3% (30-03-2026)	−14.7% (30-03-2026)
Beta	0.93	1.00
Alpha	+3.99%	0.00%

From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

Measure	Bank of India Business Cycle Fund (Direct)This fund	Nifty 500 TRI
Return (CAGR)	−3.11%	−2.83%
Standard deviation	15.53%	14.09%
Sharpe ratio	-0.57	-0.61
Sortino ratio	-0.76	-0.82
Maximum drawdown	−25.2% (28-02-2025)	−18.6% (28-02-2025)
Beta	1.00	1.00
Alpha	−0.26%	0.00%

From daily NAVs, 02-09-2024 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

Drawdowns

How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.

−30%−25%−20%−15%−10%−5%0%

20252026

Bank of India Business Cycle Fund (Direct)Nifty 500 TRI

	Worst fall	High before it	Bottom	Back at the high	Time to climb back	Below its high today
Bank of India Business Cycle Fund (Direct)	−25.2%	11-12-2024	28-02-2025	Not yet	--	−10.6%
Nifty 500 TRI	−18.6%	26-09-2024	28-02-2025	Not yet	--	−8.8%

From the Direct plan's daily NAV since 02-09-2024, adjusted for unit splits, and Nifty 500 TRI over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.

Bank of India Business Cycle Fund vs Other Thematic Funds

The five Thematic funds with the best three year return, and this fund. Direct plans.

Fund name	Rank	AUM (Cr)	Exp. ratio	1Y return	3Y return	3Y alpha	3Y beta	3Y Sharpe	3Y Sortino
Nippon India Taiwan Equity Fund	1/133	1,147	1.08%	+75.71%	+54.78%	--	--	1.38	2.03	Compare
HDFC Defence Fund	2/133	11,493	0.90%	+13.79%	+34.76%	−0.18%	0.83	1.12	1.54	Compare
HDFC Pharma and Healthcare Fund	3/133	3,501	1.05%	+23.12%	+30.53%	+8.23%	0.96	1.74	2.49	Compare
SBI Healthcare Opportunities Fund	4/133	5,870	1.01%	+17.12%	+24.60%	+3.61%	0.88	1.42	2.03	Compare
Aditya Birla Sun Life International Equity Fund	5/133	352	2.00%	+13.97%	+24.46%	--	--	1.49	2.16	Compare
Bank of India Business Cycle Fund	93/215	437	1.37%	−2.50%	--	--	--	--	--

AUM is each fund's size at the end of its last reported month, from its own portfolio file. We calculate the risk ratios from daily NAVs over the last three years. The risk-free return is what NSE's overnight rate index earned over the same years. Alpha and beta compare each fund with its own benchmark's TRI. "--" means we have no figure: for alpha and beta, no daily series for that benchmark.

Bank of India Business Cycle Fund Expense Ratio and Costs

What each plan charges a year, in force from 01-10-2026

Plan	Base expense ratio	Brokerage	Transaction costs	Levies and GST	Total expense ratio	Thematic median	Cost rank (1 = cheapest)
Direct	1.01%	0.06%	0.00%	0.30%	1.37%	1.18%	164/235
Regular	2.10%	0.06%	0.00%	0.49%	2.65%	2.41%	172/235

The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file. Cost rank: where this plan comes when the Thematic funds' plans of the same type are sorted from the lowest total expense ratio to the highest.

Direct vs Regular: what the gap cost

Both plans own the same portfolio, so the difference in what they earned is the Regular plan's extra cost, taken out of its NAV.

Over the last	Regular	Direct	Direct earned more by	₹1 lakh became (Regular)	₹1 lakh became (Direct)
1 year	−3.80%	−2.50%	1.30%	₹96,200	₹97,500

Returns over more than 1 year are a rate a year (CAGR). ₹1 lakh invested once at the start of each period, valued on the last NAV.

Bank of India Business Cycle Fund SIP Calculator

What a one-time or monthly investment in this fund would be worth today, from its own NAV history

Growth of an investment

Every month₹

Step up each year

PeriodFor

₹10,000 on the first trading day of every month, from 02-09-2024 to 30-10-2026: 26 instalments, ₹2,60,000 in all.

Investment	Invested	Value now	Gain	Return a year
Direct planBank of India Business Cycle Fund (Direct)	₹2,60,000	₹2,63,120	₹3,120	1.1%
Regular planBank of India Business Cycle Fund (Regular)	₹2,60,000	₹2,59,323	−₹677	−0.2%
Nifty 500 TRI	₹2,60,000	₹2,53,797	−₹6,203	−2.1%
Category averageCategory average, 235 Thematic funds	₹2,60,000	₹2,67,223	₹7,223	2.5%

₹0₹1.0 L₹2.0 L₹3.0 L

20252026

Direct planBank of India Business Cycle Fund (Direct)Regular planBank of India Business Cycle Fund (Regular)Nifty 500 TRICategory averageCategory average, 235 Thematic fundsAmount invested

From each plan's published NAV (Growth option), the benchmark's TRI and the category average, over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.

Bank of India Business Cycle Fund Asset Allocation

Asset allocation as on 30-09-2026

What the fund holds

94.7%Equity

Asset	Fund	Category
Equity	94.7%	94.5%
Cash and others	5.2%	4.0%
Debt	0.1%	1.5%

Market cap of stocks

Market cap	Fund	Category
Large Cap	43.9%	45.7%
Mid Cap	15.9%	19.6%
Small Cap	28.3%	24.1%
Not on AMFI's list	6.5%	2.3%

Share of the whole fund. Category: the average of the Thematic funds that hold stocks. Groups follow AMFI's latest list, as SEBI defines them: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.

Bank of India Business Cycle Fund Sector Allocation

Sector allocation of the fund's stocks as on 30-09-2026

Largest sectors

Banks12.8%
Consumer Durables11.8%
Power8.8%
Electrical Equipment8.0%
Pharmaceuticals & Biotechnology5.6%
Capital Markets4.9%
Food Products4.0%
Textiles & Apparels3.8%
Telecom - Services3.8%
Industrial Products3.4%

The ten largest of 25 sectors. The other 15 add up to 27.9%.

Sector changes

Sector	July 2026	August 2026	September 2026	Change
Banks	13.0%	13.1%	12.8%	−0.2%
Consumer Durables	11.7%	13.4%	11.8%	+0.1%
Power	9.1%	8.4%	8.8%	−0.3%
Electrical Equipment	7.2%	6.7%	8.0%	+0.8%
Pharmaceuticals & Biotechnology	5.3%	5.6%	5.6%	+0.3%

Each sector's share of the fund at the end of each month. The five largest sectors of September 2026. Change: from July 2026 to September 2026, in % of the fund.

Bank of India Business Cycle Fund Portfolio Holdings

As on 30-09-2026 · 51 holdings · from the fund house's monthly portfolio

Holdings	Sector / Rating	Weight%	1M change
ICICI Bank Limited	Banks	5.41%	0.0%
State Bank of India	Banks	5.07%	0.0%
NTPC Limited	Power	4.16%	0.0%
Bharti Airtel Limited	Telecom - Services	3.78%	0.0%
Apollo Hospitals Enterprise Limited	Healthcare Services	3.36%	0.0%
Quality Power Electrical Eqp Ltd	Electrical Equipment	3.19%	−17.0%
LG Electronics India Ltd	Consumer Durables	3.03%	0.0%
Glenmark Pharmaceuticals Limited	Pharmaceuticals & Biotechnology	2.94%	−8.3%
Power Grid Corporation of India Limited	Power	2.82%	0.0%
Sky Gold And Diamonds Limited	Consumer Durables	2.67%	−12.2%
Aequs Limited	Aerospace & Defense	2.58%	0.0%
S.J.S. Enterprises Limited	Auto Components	2.57%	0.0%
Britannia Industries Limited	Food Products	2.43%	0.0%
Computer Age Management Services Limited	Capital Markets	2.30%	0.0%
Reliance Industries Limited	Petroleum Products	2.28%	0.0%
HDFC Bank Limited	Banks	2.27%	0.0%
Tata Motors Ltd	Agricultural, Commercial & Construction Vehicles	2.27%	0.0%
Eternal Limited	Retailing	2.01%	0.0%
Tinna Rubber and Infrastructure Limited	Industrial Products	1.98%	0.0%
Mahindra & Mahindra Limited	Automobiles	1.96%	0.0%
Lalithaa Jewellery Mart Ltd	Consumer Durables	1.90%	−45.2%
TD Power Systems Limited	Electrical Equipment	1.89%	0.0%
Kanohar Electricals Limited	Electrical Equipment	1.86%	New
Nippon Life India Asset Management Limited	Capital Markets	1.66%	0.0%
EID Parry India Limited	Food Products	1.57%	0.0%
K.P.R. Mill Limited	Textiles & Apparels	1.54%	0.0%
Sterlite Technologies Limited	Telecom - Equipment & Accessories	1.52%	−20.6%
Gufic Biosciences Limited	Pharmaceuticals & Biotechnology	1.45%	0.0%
Ganesha Ecosphere Limited	Textiles & Apparels	1.35%	0.0%
Vedanta Aluminium Metal Limited	Non - Ferrous Metals	1.32%	+40.0%
PB Fintech Limited	Financial Technology (Fintech)	1.24%	0.0%
Dr. Reddy's Laboratories Limited	Pharmaceuticals & Biotechnology	1.24%	0.0%
Bajaj Auto Limited	Automobiles	1.19%	0.0%
Century Plyboards (India) Limited	Consumer Durables	1.17%	−16.9%
ETHOS LTD.	Consumer Durables	1.15%	0.0%
Tata Power Company Limited	Power	1.15%	0.0%
United Spirits Limited	Beverages	1.08%	0.0%
Hindustan Copper Limited	Non - Ferrous Metals	1.05%	0.0%
Oil India Limited	Oil	1.02%	0.0%
Siemens Energy India Limited	Electrical Equipment	1.02%	0.0%
UltraTech Cement Limited	Cement & Cement Products	1.00%	0.0%
Asian Paints Limited	Consumer Durables	0.99%	−32.3%
Zaggle Prepaid Ocean Services Limited	IT - Services	0.97%	0.0%
Filatex India Limited	Textiles & Apparels	0.93%	New
National Stock Exchange Of India Ltd	Capital Markets	0.90%	New
Dixon Technologies (India) Limited	Consumer Durables	0.90%	−23.1%
CMR Green Technologies Limited	Industrial Products	0.79%	0.0%
Torrent Power Limited	Power	0.71%	0.0%
Vidya Wires Limited	Industrial Products	0.60%	0.0%
SBI Life Insurance Company Limited	Insurance	0.47%	0.0%
364 Days Tbill (MD 07/01/2027) · Treasury bill	SOVEREIGN	0.06%

Bank of India Business Cycle Fund Stocks Bought and Sold

All changes are between August 2026 and September 2026

Stocks bought and sold in September 2026

Quality Power Electrical Eqp Ltd	Reduced	−17.0%	3.19%
Glenmark Pharmaceuticals Limited	Reduced	−8.3%	2.94%
Sky Gold And Diamonds Limited	Reduced	−12.2%	2.67%
Lalithaa Jewellery Mart Ltd	Reduced	−45.2%	1.90%
Kanohar Electricals Limited	New	New	1.86%
Asian Paints Limited	Reduced	−32.3%	0.99%
Sterlite Technologies Limited	Reduced	−20.6%	1.52%
Century Plyboards (India) Limited	Reduced	−16.9%	1.17%
Vedanta Aluminium Metal Limited	Added	+40.0%	1.32%
Dixon Technologies (India) Limited	Reduced	−23.1%	0.90%
Nuvama Wealth Management Limited	Sold out	−100%	was 1.25%
Filatex India Limited	New	New	0.93%
ITC Limited	Sold out	−100%	was 0.91%
National Stock Exchange Of India Ltd	New	New	0.90%
Siemens Limited	Sold out	−100%	was 0.70%
MRF Limited	Sold out	−100%	was 0.58%
Arvind Fashions Limited	Sold out	−100%	was 0.06%

A change is counted by the number of shares the fund holds, not by price. A stock can become a smaller part of the fund in a month when the fund bought more of it, if its price fell. Debt papers are left out.

What Bank of India Business Cycle Fund bought and sold

Bank of India Business Cycle Fund Portfolio Overlap

Funds with the most similar portfolios, across every fund house and category

Fund	Overlap	Holdings in common
Bank of India ELSS Tax Saver FundELSS · Bank of India	40.9%	24	Compare
Bank of India Flexi Cap FundFlexi Cap · Bank of India	36.1%	26	Compare
Bank of India Large Cap FundLarge Cap · Bank of India	35.0%	21	Compare
Mirae Asset Nifty 100 Low Volatility 30 ETFETF · Mirae Asset	33.6%	15	Compare
ICICI Prudential Nifty 100 Low Volatility 30 ETFETF · ICICI Prudential	33.6%	15	Compare
SBI Nifty100 Low Volatility 30 Index FundIndex · SBI	33.6%	15	Compare
HDFC Nifty100 Low Volatility 30 ETFETF · HDFC	33.6%	15	Compare
HDFC NIFTY100 Low Volatility 30 Index FundIndex · HDFC	33.6%	15	Compare

Overlap: for each holding both funds own, the smaller of its two weights, added up. 40% means 40% of each fund's money sits in positions the other also holds. From each fund's latest monthly portfolio, matched by ISIN. Cash and hedged positions are left out. Funds that overlap under 10% are not listed. A high overlap does not make two funds the same: their costs, lock-in and category can differ.

Bank of India Business Cycle Fund Overview

Fund facts from the scheme summary document, as on 16-10-2026

Expense ratio (Direct): 1.37%
Expense ratio (Regular): 2.65%
Category: Thematic
Risk: Very High
Benchmark: Nifty 500 TRI
Launch date: 30-08-2024
Minimum investment: ₹5,000
Minimum additional investment: ₹1,000
AUM: ₹437.41 Cr (30-09-2026)
Lock in: None
Scheme code (Direct): 152789
ISIN (Direct): INF761K01GF3
Scheme code (Regular): 152790
ISIN (Regular): INF761K01GC0
NAV history: From 02-09-2024, 2.2 years

Exit load: Exit Load for units in excess of 10% of the investment,1% will be charged for redemption within 3 months.

Tax on Bank of India Business Cycle Fund returns

Bank of India Business Cycle Fund is taxed as an equity fund: 65% or more of it is in Indian stocks.
Units sold within 1 year: the gain is taxed at 20%.
Units held longer: gains above ₹1.25 lakh in a financial year, across all your equity funds and shares, are taxed at 12.5%.
IDCW (dividend) payouts are added to your income and taxed at your slab rate.
A stamp duty of 0.005% is deducted when you invest.

Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.

All plans and options

Plan	Option	NAV	As on
direct	Growth	₹9.36	30-10-2026
direct	IDCW	₹9.36	30-10-2026
regular	Growth	₹9.11	30-10-2026
regular	IDCW	₹9.11	30-10-2026

About Bank of India Business Cycle Fund

Bank of India Business Cycle Fund is a mutual fund from Bank of India Mutual Fund. Its category is Thematic. It was launched on 30-08-2024. Its benchmark is Nifty 500 TRI. At the end of September 2026 it held 51 securities.

Fund Manager

Alok Singh
Fund manager of Bank of India Business Cycle Fund, since 30-08-2024

See all funds of Bank of India Mutual Fund

AUM change

September 2026: ₹437.41 Cr; −5.56% from August 2026
August 2026: ₹463.16 Cr; +0.44% from July 2026
July 2026: ₹461.14 Cr; −0.41% from June 2026

AUM moves with money invested or taken out, and with the value of what the fund holds.

Compare Bank of India Business Cycle Fund with Other Funds

Returns, risk, costs and the stocks they share, side by side

Bank of India Business Cycle vs Nippon India Taiwan EquityThematic
Bank of India Business Cycle vs HDFC DefenceThematic
Bank of India Business Cycle vs HDFC Pharma and HealthcareThematic
Bank of India Business Cycle vs SBI Healthcare OpportunitiesThematic
Bank of India Business Cycle vs Aditya Birla Sun Life International EquityThematic
Bank of India Business Cycle vs Bank of India ELSS Tax Saver40.9% overlap
Bank of India Business Cycle vs Bank of India Flexi Cap36.1% overlap
Bank of India Business Cycle vs Bank of India Large Cap35.0% overlap

Compare with any other fund

Frequently Asked Questions for Bank of India Business Cycle Fund

What is the current NAV of Bank of India Business Cycle Fund?

The Direct plan NAV is ₹9.36. The Regular plan NAV is ₹9.11, as on 30-10-2026.

What are the returns of Bank of India Business Cycle Fund?

The Direct plan returned −2.50% in 1 year. The Regular plan returned −3.80% in 1 year. These figures are as on 30-10-2026.

What is the expense ratio of Bank of India Business Cycle Fund?

The Direct plan charges 1.37% a year. The Regular plan charges 2.65% a year. This is the figure the fund house reported to AMFI, in force from 01-10-2026.

What is the AUM of Bank of India Business Cycle Fund?

Bank of India Business Cycle Fund managed ₹437.41 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

What are the top holdings of Bank of India Business Cycle Fund?

At the end of September 2026 the largest holdings were ICICIBANK (5.41%), SBIN (5.07%), NTPC (4.16%), BHARTIARTL (3.78%), APOLLOHOSP (3.36%). The fund held 51 securities in all.

What did Bank of India Business Cycle Fund buy and sell in September 2026?

It bought 3 new stocks: National Stock Exchange Of India Ltd, Filatex India Limited, Kanohar Electricals Limited. It sold out of 5: Siemens Limited, ITC Limited, Nuvama Wealth Management Limited, MRF Limited, Arvind Fashions Limited. It added shares in 1. It reduced 8.

How do I invest in Bank of India Business Cycle Fund?

Through Bank of India Mutual Fund's website or app, a mutual fund distributor, or an investment platform. Choose the Direct plan to pay no distributor commission, or the Regular plan to invest through a distributor. The first investment is at least ₹5,000. You can invest once or through a monthly SIP.

Who is the fund manager of Bank of India Business Cycle Fund?

Alok Singh (since 30-08-2024).

Sources: NAV and expense ratio from AMFI. Holdings from the fund house's monthly portfolio statement. Fund facts from its scheme summary document, as on 16-10-2026.

This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.