Thematic · Equity

DSP Business Cycle Fund

DSP Asset Managers Private Limited

Benchmark

Nifty 500 TRI

Riskometer

Very High

Size

₹1,494 cr

Allotted

17 Dec 2024

Holdings as of

30 Sep 2026

DSP Business Cycle Fund is a thematic fund of DSP Asset Managers Private Limited with ₹1,494 cr under management. It is ahead of its benchmark (Nifty 500 TRI) in 1 of 1 periods. Its direct plan charges 1.12% a year. Anish Tawakley has managed it for 0.5 years.

Has DSP Business Cycle Fund beaten its benchmark?

Ahead of its benchmark, Nifty 500 TRI, in 1 of 1 periods in AMFI's figures; −2.15% over the last year against −4.30%.

Period returns

Direct Plan, growth · 3y and longer a year

Period	Fund	Nifty 500 TRI	Ahead
1 month	−2.77%	−3.60%	—
3 months	−5.68%	−5.03%	—
6 months	−1.56%	−1.83%	—
1 year	−2.15%	−4.06%	+1.91 pts
3 years	—	+9.27%	—
5 years	—	+8.00%	—
10 years	—	+12.69%	—
Since start from 18 Dec 2024	+0.31%	—	—

Valarth price history to 13 Oct 2026 · the index is the one the fund is nearest; — not on record

Official figures

AMFI performance feed, 13 Oct 2026

Ahead of its benchmark (Nifty 500 TRI) in 1 of 1 periods.

Period	Direct	Regular	Benchmark	Ahead	Rank
1y	−2.15%	−3.59%	−4.30%	+2.15	🔒
3y	—	—	—	—	—
5y	—	—	—	—	—
10y	—	—	—	—	—

Ahead in points a year · its rank among Thematic funds, and how steady the lead is, in the app

Value of 100, month-end

Dec 2024 to 13 Oct 2026

Fund 100Nifty 500 TRI 100

₹100 put in at the start of Dec 2024 would be ₹100 on 13 Oct 2026, against ₹100 in the Nifty 500 TRI.

Risk, falls and every year

🔒 Pro

Its worst fall and how long it took to recover, three-year stretches, Sharpe, beta and capture ratios, calendar years beside the index, and money in and out: in the app.

See them in the app →

What does DSP Business Cycle Fund cost?

1.12% a year on the direct plan, 2.58% on the regular plan; 32 of 61 funds in its category charge less.

Direct plan

1.12% a year

Category median 1.09%

Regular plan

2.58% a year

Category median 2.40%

Gap

1.46 points

for the same holdings

32 of 61 funds in its category charge less on the direct plan.

Expense report, Oct 2026 · Equity Schemes - Thematic Fund

What the regular plan costs you over time

🔒 Pro

The same money left for years in the direct and the regular plan, side by side, and what the commission takes: in the app.

Who manages DSP Business Cycle Fund?

Anish Tawakley, since 1 May 2026; Sandeep Yadav, since 1 May 2026; Aparna Karnik, since 1 May 2026.

Anish Tawakley

Primary

0.5 years

since 1 May 2026

Sandeep Yadav

Comanage

0.5 years

since 1 May 2026

Aparna Karnik

Comanage

0.5 years

since 1 May 2026

Benchmark as filedNifty 500 TRI

Exit load

If the units redeemed or switched out on or before 1 month from the date of allotment: 0.5% If units are redeemed or switched out after 1 month from the date of allotment: Nil

From 114 Scheme Summary Documents filed with NSE, first on 13 Apr 2026; as on 12 Oct 2026

What does DSP Business Cycle Fund hold?

58 holdings as of 30 Sep 2026; the ten largest are 47.5% of the fund, the largest ICICI Bank Limited at 9.8%.

Mix

Holdings as of 30 Sep 2026

Equity82.7%Debt0.0%Cash6.5%Other10.8%

Holdings

55 shares

Top ten

47.5%

of the fund

Effective holdings

20.4

spread, as if equal-weighted

Matched to our table

100%

of the equity

Five largest

% of fund

ICICI Bank Limited9.85%

HDFC Bank Limited9.55%

Axis Bank Limited5.42%

Bharti Airtel Limited4.44%

Larsen & Toubro Limited3.98%

Five largest industries

% of fund

Banks31.7%

Automobiles11.5%

Insurance6.40%

Telecom - Services5.90%

Petroleum Products5.60%

By company size

% of equity · SEBI size lists

Large Cap78.7%Mid Cap15.0%Small Cap6.3%

How does DSP Business Cycle Fund score against its category?

Seven scores against funds of its kind, and the warning signs it trips.

Scorecard

🔒 Pro

Seven scores, each out of 5, against funds in its category, with the reasons, and the warning signs it trips: in the app.

Open scorecard in the app →

Are the companies inside any good?

The holdings by valuation, forensic risk, business quality and balance sheet, weighted by their share of the fund.

The companies inside

🔒 Pro

The holdings weighted by their share of the fund: P/E and ROE, forensic risk levels, Valarth's valuation view, quality, moats, balance sheets and who owns them: in the app.

How is DSP Business Cycle Fund run?

Turnover, what it bought and sold, its cash and its record in new listings, from its monthly holdings files.

How it is run

🔒 Pro

Turnover, what it bought and sold and when, how long it holds, size drift, cash and its record in new listings, from up to two years of monthly holdings files: in the app.

Which funds hold much the same?

The index it is nearest and the funds whose holdings overlap most.

Moves with its indexnot an index tracker

Nearest to the Nifty 50: 51% of it differs from the index (an active fund is usually above 60%).

Active share 50.6%60%

Funds that hold much the same

% of holdings in common

DSP Large Cap Fund74.9% the same

31 shared holdings

ICICI Prudential Business Cycle Fund64.5% the same

34 shared holdings

ICICI Prudential Large Cap Fund62.2% the same

31 shared holdings

How much is in its sponsor's own group?

Holdings in companies of the fund house's sponsor group, beside the index.

Related-party exposure

🔒 Pro

How much of the fund is in companies of its sponsor's own group, beside what the index holds of them: in the app.

Questions people ask

Who manages DSP Business Cycle Fund?

Anish Tawakley (Primary) since 1 May 2026; Sandeep Yadav (Comanage) since 1 May 2026; Aparna Karnik (Comanage) since 1 May 2026.

What is the expense ratio of DSP Business Cycle Fund?

1.12% a year on the direct plan and 2.58% on the regular plan (expense report, Oct 2026).