Fundalysisby DARKHORSESTOCKS

Scheme

HDFC Flexi Cap Fund

Holds 81 companies worth ₹1,05,540 Cr in Sept 2026.

  • Fund house

    HDFCThe fund house that runs this scheme.

  • AUM

    ₹1,08,547 CrHDFC Flexi Cap Fund's AUM at the end of 30 Sept 2026, as AMFI reports it. Down 4.5% on Aug 2026, ₹1,13,606 Cr.

  • Largest holding

    ICICI BankICICI Bank is 8.8% of this scheme's NAV.

  • Fund manager

    Amit GanatraRuns it since 1 Feb 2026, as the fund house dates it. With Bhagyesh Kagalkar (gold & silver), Gopal Agrawal (overseas).

Overview(14 Sept 2026)

Fund managers3

  1. Amit GanatraFund manager · Feb 2026 · 23y · CA CFA M.Com
  2. Bhagyesh KagalkarGold & silver · Aug 2026 · 31y · MMS B.E.
  3. Gopal AgrawalOverseas · Sept 2026 · 21y · B.E.
  1. Dhruv MuchhalJun 2023 – Sept 2026
  2. Chirag SetalvadDec 2025 – Feb 2026
  3. Roshi JainJul 2022 – Dec 2025

Key facts

Benchmark
NIFTY 500 Index (Total Returns Index)
Risk
Very High
Expense
Regular 1.37% · Direct 0.77%
Exit load
1% within 1 year
Started
1 Jan 1995
Minimum
₹100

Source.Its Scheme Summary Document as of 14 Sept 2026 at AMFI.

What changed(28 changes)

Sept 2026

4 changes
  1. Expense ratio
    14 SeptDirect 0.74% → 0.77%
  2. Bhagyesh Kagalkar joined
    11 Septfor gold and silver
  3. Gopal Agrawal joined
    11 Septfor overseas investments
  4. Dhruv Muchhal left
    11 Septran it for overseas investments from Jun 2023

Aug 2026

1 change
  1. Expense ratio
    13 AugRegular 1.38% → 1.37%Direct 0.78% → 0.74%

Jul 2026

1 change
  1. Expense ratio
    14 JulRegular 1.27% → 1.38%Direct 0.68% → 0.78%

Source.Its filings at NSE, since Sept 2024.

Fund managers over time(Jul 2022 – now)

  1. Amit Ganatra
  2. Bhagyesh Kagalkar
  3. Gopal Agrawal
  4. Dhruv Muchhal
  5. Chirag Setalvad
  6. Roshi Jain
MainCoSlice2023202420252026
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(Sept 2024 – Sept 2026)

Every change to the expense ratio, newest first.
22 changesRegularDirectΔ pt
14 Sept 20261.37%0.77%0.03
13 Aug 20261.37%0.74%0.04
14 Jul 20261.38%0.78%0.10
11 Jun 20261.27%0.68%0.01
12 May 20261.27%0.67%0.01
12 Apr 20261.35%0.68%0.02
11 Mar 20261.34%0.70%0.01
10 Feb 20261.34%0.69%0.02
13 Jan 20261.33%0.67%0.02
11 Dec 20251.33%0.65%0.02
12 Nov 20251.35%0.67%0.03
15 Sept 20251.37%0.70%0.01
14 Aug 20251.37%0.71%0.01
14 Jul 20251.38%0.72%0.01
13 Jun 20251.39%0.73%0.01
12 May 20251.40%0.74%0.07
27 Mar 20251.41%0.81%0.01
12 Feb 20251.42%0.80%0.01
1 Jan 20251.42%0.79%0.03
13 Dec 20241.42%0.76%0.01
15 Oct 20241.43%0.77%0.02
15 Sept 20241.43%0.75%–
Direct plan, 14 Sept 2026
0.77%
Regular plan 1.37% · Exit load 1% within 1 year
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(14 Sept 2026)

Objective

To generate capital appreciation / income from a portfolio, predominantly invested in equity & equity related instruments. There is no assurance that the investment objective of the Scheme will be achieved.

Risk, type and benchmark

Riskometer
Very High
Type
An open ended dynamic equity scheme investing across Large Cap, Mid Cap, Small Cap Stocks
Benchmark
NIFTY 500 Index (Total Returns Index)

Asset allocation it may hold% of NAV

  1. Equity and Equity Related Instruments
    Allowed65–100%Holds97.3%
  2. Money market instruments, Other liquid instruments and Units of Mutual Fund
    Allowed0–35%
  3. Units issued by InvITs
    Allowed0–10%Holds0.0%
  4. Gold and Silver instruments
    Allowed0–35%Holds0.0%

Holds in Sept 2026.97.3% equity · 2.7% debt and cash

How to invest(14 Sept 2026)

Buying

To start
₹100, then any amount
To add
₹100, then any amount
Systematic
For Systematic Investmet Plan (SIP) Daily, Weekly, Monthly, Quarterly, Half Yearly and Yearly For Systematic Withdrawal Advantage Plan (SWAP) Fixed SWAP - Monthly, Quarterly, Half Yearly, Yearly Variable SWAP - Quarterly, Half Yearly, Yearly For Sytematic Transfer Plan (STP) Fixed Systematic Transfer Plan (FSTP) - Daily, Weekly, Monthly, Quarterly Capital Appreciation Systematic Transfer Plan (CASTP) - Monthly, Quarterly
Dates
SIP: For Daily SIP- All Business Days For Weekly SIP- Any business day between Monday to Friday, (Default date is Wednesday) For all other frequnecies - Any date fo the month. If it happens to be a non-Business Day, SIP will be processed on the next Business Day (Default date = 10th of the month) SWP: For Fixed and Variable SWP- Any date. Default Date: 25th STP For Daily FSTP- All Business days For Weekly FSTP-Monday,Tuesday,Wednesday,Thursday,Friday (Default Day) For Monthly FSTP and CASTP - 1,5,10#,15,20,25 For Quarterly FSTP and CASTP - 1,5,10#,15,20,25 #Default Date
Minimum
For SIP DSIP, WSIP, MSIP - Rs. 100; QSIP - Rs. 1500; HSIP - Rs. 2500; YSIP - Rs. 5000. For SWAP Fixed SWAP - Rs. 100; Variable SWAP - Rs. 300. For STP Fixed STP (FSTP) Daily FSTP - Rs. 500; Weekly FSTP - Rs. 500; Monthly FSTP - Rs. 1000; Quarterly FSTP -Rs. 3000. Capital Appreciation STP (CASTP) Monthly CASTP - Rs. 300; Quarterly CASTP - Rs 1000., then for SIP and SWAP Re. 1/- thereafter; For STP FSTP Daily, Monthly, Quarterly FSTP - Rs. 100 thereafter Weekly FSTP - any amount thereafter CASTP Mulitples will be based on the appreciated amount
Instalments
SIP: Minimum number of installments under DSIP- 2 Minimum number of Installments under WSIP and MSIP : - In respect of each SIP Installment between Rs.300 to Rs.499 in value - 20 - In respect of each SIP Installment between Rs.500 to Rs.999 in value - 12. In respect of each SIP Installment equal to or greater than Rs 1,000 in value - 6 Minimum number of installments under QSIP : - In respect of each SIP Installment between Rs.1,500 to Rs.2,999 in value- 4; In respect of each SIP Installment equal to or greater than Rs. 3,000 in value- 2 Minimum number of installments under HYSIP: - In respect of each SIP Installment equal to or greater than Rs. 2,500 in value- 2 Minimum number of installments under YSIP: - In respect of each SIP Installment equal to or greater than Rs. 5,000 in value- 1 SWP: For Fixed and Variable SWP- 2 STP: Under Daily FSTP: -where installment amount is less than Rs. 1,000 : 12 - where installment amount is equal to or greater than Rs. 1,000: 6 Under Weekly STP : - Where installment amount is less than Rs. 1,000: 12 installments - Where installment amount is equal to or greater than Rs. 1,000: 6 installments However, for weekly STP in equity linked savings schemes, there should be a minimum of 6 installments for enrollment. Under Monthly FSTP & Monthly CASTP : - Minimum 6 installments, Under Quarterly FSTP & Quarterly CASTP : - Minimum 2 installments. Further, the minimum balance in the Unit holders account or the minimum amount of application at the time of enrolment for STP in the Transferor Scheme should be Rs. 12,000. There will be no maximum duration for STP enrolment.

Selling and switching

To redeem
Rs.100 and and multiples of Rs.1 thereafter or No minimum redemption criterion for Unit based redemption units
Minimum balance
There is no minimum balance amount requirement. or There is no minimum balance amount in units requirement. units
Switch minimum
Switch - in: Rs.100 and any amount thereafter. Additional Amount:. Rs. 100 Switch-out :Rs. 100 and multiples of Rs. 1/- thereafter
Switch multiples
Any amount
Switch most
Switch in: Not Applicable Switch out: Not applicable. or Switch in: Not Applicable. Switch out: Not applicable. units

Scheme details(14 Sept 2026)

What it is

Category
Flexi Cap Fund
Offer
8 Dec 1994 to 24 Dec 1994
Started
1 Jan 1995
Plans
Plans:Regular and Direct. Each Plan offers the following sub-options: · a)Growth Option. · b)Income Distribution cum Capital Withdrawal (IDCW) Option. This Option offers following Sub-Options / facilities: · • Payout of Income Distribution cum Capital Withdrawal (IDCW) Option / facility and · • Re-investment of Income Distribution cum Capital Withdrawal (IDCW) Option / facility.
Face value
Rs. 10.
Listed
No

How it is run

Swing pricing
No
Side-pocketing
No
Custodian
Citibank N.A
Auditor
S.R. Batliboi & Co. LLP – Chartered Accountants
Registrar
Computer Age Management Services Limited
SEBI code
HDFC/O/E/FCF/94/12/0002