Fundalysisby DARKHORSESTOCKS

Scheme

DSP Business Cycle Fund

Holds 55 companies worth ₹1,219 Cr in Sept 2026.

  • Fund house

    DSPThe fund house that runs this scheme.

  • AUM

    ₹1,474 CrDSP Business Cycle Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Up 0.3% on Aug 2026, ₹1,469 Cr.

  • Largest holding

    ICICI BankICICI Bank is 9.8% of this scheme's NAV.

  • Fund manager

    Anish TawakleyRuns it since 1 May 2026, as the fund house dates it. With Aparna Karnik (co-manager), Sandeep Yadav (co-manager).

Overview(9 Oct 2026)

Fund managers3

  1. Anish TawakleyFund manager · May 2026 · 30y · MBA PGDM B.Tech
  2. Aparna KarnikCo-manager · May 2026 · 20y · B.Com
  3. Sandeep YadavCo-manager · May 2026 · 21y · PGDM B.E.
  1. Vinit SambreAug 2025 – May 2026
  2. Charanjit SinghDec 2024 – Aug 2025

Key facts

Benchmark
Nifty 500 TRI
Risk
Very High
Expense
Regular 2.59% · Direct 1.13%
Exit load
0.5% within 1 month
Started
17 Dec 2024
Minimum
₹100

Source.Its Scheme Summary Document as of 9 Oct 2026 at AMFI.

What changed(68 changes)

Oct 2026

1 change
  1. Expense ratio
    1 OctRegular 2.63% → 2.58%Direct 1.17% → 1.12%

Sept 2026

2 changes

Aug 2026

2 changes

Source.Its filings at NSE, since Dec 2024.

Fund managers over time(Dec 2024 – now)

  1. Anish Tawakley
  2. Aparna Karnik
  3. Sandeep Yadav
  4. Vinit Sambre
  5. Charanjit Singh
MainCoSlice20252026
Fig. 1.Who ran it when: each manager from the date the fund house gives, or the first document listing them where it gives none, to when they left. A slice is part of it: overseas, gold and silver, or arbitrage.

Costs(Dec 2024 – Oct 2026)

Every change to the expense ratio, newest first.
61 changesRegularDirectΔ pt
1 Oct 20262.58%1.12%0.05
11 Sept 20262.63%1.17%0.01
8 Sept 20262.64%1.18%0.03
31 Aug 20262.64%1.15%0.12
12 Aug 20262.76%1.27%0.14
6 Jul 20262.89%1.41%0
1 Jul 20262.90%1.41%0.26
18 Jun 20262.64%1.15%0.07
17 Jun 20262.72%1.22%0.55
15 Jun 20262.16%0.67%0.08
12 Jun 20262.24%0.75%0.07
1 Jun 20262.18%0.68%1.25
28 May 20263.43%1.93%0.66
26 May 20262.76%1.27%0.13
25 May 20262.89%1.40%0.20
24 May 20262.69%1.20%0.04
20 May 20262.73%1.24%2.06
19 May 20264.79%3.30%2.48
18 May 20262.31%0.82%0.07
17 May 20262.37%0.89%0.17
13 May 20262.21%0.72%1.92
10 May 20264.13%2.64%1.46
7 May 20265.60%4.10%0.36
6 May 20265.24%3.74%0.84
5 May 20264.39%2.90%1.79
3 May 20266.18%4.69%3.23
29 Apr 20262.94%1.46%0.37
28 Apr 20262.58%1.09%2.01
27 Apr 20264.59%3.10%3.22
26 Apr 20267.80%6.32%1.03
23 Apr 20268.84%7.35%6.67
20 Apr 20262.18%0.68%0.01
19 Apr 20262.18%0.69%0.52
15 Apr 20262.69%1.21%1.05
14 Apr 20263.75%2.26%0.31
13 Apr 20263.44%1.95%0.15
9 Apr 20263.59%2.10%1.38
6 Apr 20262.20%0.72%0.01
19 Mar 20262.19%0.73%0.01
4 Mar 20262.18%0.72%0.01
1 Feb 20262.17%0.71%0.04
9 Jan 20262.16%0.67%0.01
30 Dec 20252.15%0.66%0.03
28 Nov 20252.14%0.63%0.01
15 Oct 20252.14%0.62%0.01
30 Jun 20252.15%0.63%0.03
26 Jun 20252.16%0.66%0.01
9 Jun 20252.17%0.67%0.01
16 May 20252.18%0.68%0.01
21 Apr 20252.19%0.69%0.01
17 Apr 20252.20%0.70%0.01
16 Apr 20252.21%0.71%0.01
21 Mar 20252.22%0.72%0.01
19 Mar 20252.23%0.73%0.01
6 Mar 20252.24%0.74%0.01
3 Mar 20252.25%0.75%0.08
28 Feb 20252.23%0.67%0.01
10 Feb 20252.22%0.66%0.01
28 Jan 20252.21%0.65%0.09
27 Dec 20242.21%0.56%0.01
19 Dec 20242.22%0.57%–
Direct plan, 1 Oct 2026
1.12%
Regular plan 2.58% · Exit load 0.5% within 1 month
Fig. 1.Total expense ratio a year, each plan's, as its Scheme Summary Documents state it, filing by filing at NSE. A change holds until the next.

Objective and risk(9 Oct 2026)

Objective

The investment objective of the scheme is to provide long-term capital appreciation by investing in equity and equity related securities with a focus on riding business cycles through dynamic allocation across various sectors / themes / stocks at different stages of business cycle. There is no assurance that the investment objective of the Scheme will be achieved.

Risk, type and benchmark

Riskometer
Very High
At launch
Very High
Type
An open ended equity scheme investing in business cycles based theme
Benchmark
Nifty 500 TRI

Asset allocation it may hold% of NAV

  1. 1. Equity and Equity related Instruments based on business cycle theme
    Allowed80–100%Holds82.7%
  2. 2. Other Equity and Equity related Instruments / Money Market Instruments/ InvITs / Gold ETFs / Silver ETFs / Other Liquid Instruments / Units of Domestic Mutual Funds
    Allowed0–20%

Holds in Sept 2026.82.7% equity · 17.3% debt and cash

How to invest(9 Oct 2026)

Buying

To start
₹100, then re. 1/-
To add
₹100, then re. 1/-
Systematic
SIP Daily, Weekly, Monthly, Quarterly, Half-Yearly and Yearly SWP Monthly, Quarterly, Half-Yearly and Yearly STP Daily, Weekly, Monthly, Quarterly, Half-Yearly and Yearly *Weekly Monday to Friday
Dates
Any date
Minimum
₹100, then in multiples of ₹1
Instalments
SIP - 12, SWP & STP - 6

Selling and switching

To redeem
₹0.01 or 0.001 units
Switch minimum
₹100 or 0.001 units
Switch multiples
₹0.01 or 0.001 units

Scheme details(9 Oct 2026)

What it is

Category
Thematic Fund
Offer
27 Nov 2024 to 11 Dec 2024
Started
17 Dec 2024
Reopened
19 Dec 2024
Plans
Regular Plan & Direct Plan - Growth, Income Distribution cum Capital Withdrawal (‘IDCW’), Payout of Income Distribution cum Capital Withdrawal (‘IDCW’) Option, Reinvestment of Income Distribution cum Capital Withdrawal (‘IDCW’) Option. · Default Option - Growth Option in case Growth Option or Income Distribution cum Capital Withdrawal (IDCW) Option is not indicated. Payout of IDCW in case Payout of IDCW Option or Reinvestment of IDCW Sub - Option is not indicated.
Face value
₹10
Listed
No

How it is run

Swing pricing
No
Side-pocketing
Yes
Custodian
HSBC
Auditor
S.R. Batliboi & Co LLP
Registrar
Computer Age Management Services Limited (CAMS)
SEBI code
DSPM/O/E/THE/24/06/0077