The Groww Multicap Fund has completed one year since its launch in December 2024, emerging as a multi-cap category leader in a year marked by sharp market swings, uneven earnings recovery, and heightened global uncertainty. Over the one-year period, headline equity indices delivered modest returns. The Nifty 50 gained 4.83%, while the broader Nifty 500 rose just 0.93%. Performance weakened further down the market-cap curve, with the Nifty Midcap 100 up 0.45% and the Nifty Smallcap 250 declining 10.99%.
Against this backdrop, the Groww Multicap Fund outperformed its benchmark, the Nifty 500 Multicap 50-25-25 Index (+0.29%), delivering 8.01% returns over one year. The fund also led the multicap category on a year-to-date basis with gains of 8.62%. The fund’s first-year coincided with evolving market conditions, including the RBI’s rate cut cycle, global trade developments such as US tariff announcements and additional duties on Indian exports, as well as periods of heightened geopolitical uncertainty. Despite these challenges, the fund consistently placed in the top quartiles within the multicap category across multiple observation periods during its inaugural year. From a portfolio perspective, the fund is positioned to benefit from select structural themes within the Indian economy, including premiumisation, capital expenditure and infrastructure, and financialisation.
These themes are reflected through exposure to automobile companies, capital goods, and infrastructure-related stocks, as well as select banks, insurance companies, and non-banking financial companies. As it enters its second year, the Groww Multicap Fund remains focused on identifying high-quality opportunities across market capitalisations and participating in India’s long-term growth through a disciplined, valuation-conscious investment strategy. The scheme is managed by Mr. Anupam Tiwari, along with Mr. Saptarshee Chatterjee.
