The SBI Multicap Fund Regular Growth Fund is an equity mutual fund that seeks to furnish the entities with access across the full spectrum of the Indian stock market, i.e., large-cap, mid-cap, and small-cap firms in a single portfolio. Under the multicap rules of SEBI, this fund should invest at least 25 percent in large, mid, and small caps. The gist here is to try to find the stability-high growth opportunity sweet spot, yet the benchmark that one can use to evaluate against and compare performance thereof is the NIFTY 500 Multicap 50:25:25 TRI.
SBI Multicap Fund Regular Growth Overview
As of August 2025, SBI Multicap Fund Regular Growth will offer an investor balanced exposure having the underlying large-cap, mid-cap, and small-cap stocks, but with the limitation that in each category at least 25 percent of the assets must be invested. Being managed by SBI Mutual Fund, the scheme would contribute towards granting long-term capital appreciation with both extensive and diversified investing in the various segments, as well as market capitalisation, which would lessen the concentration.
| Particulars | Details |
|---|---|
| Fund Category | Equity – Multicap |
| Risk Level | Very High |
| Benchmark | NIFTY500 Multicap 50:25:25 TRI |
| Launch Date | March 8, 2022 |
| Plan & Option | Regular – Growth |
| Fund Managers | Rama Iyer Srinivasan (since Feb 2022), Saurabh Pant (since Apr 2024) |
| AUM (Assets Under Management) | ₹21,724.53 crore (as of Aug 6, 2025) |
| Expense Ratio – Regular Plan | ~1.67% |
| Expense Ratio – Direct Plan (Reference) | ~0.85% |
| Exit Load | 1% if redeemed within 365 days (beyond the free limit) |
| Minimum SIP Investment | ₹500 – ₹1,000 |
| Latest NAV (Aug 7, 2025) | ~₹17.02 – ₹17.14 |
| Standard Deviation | ~13.10 |
| Alpha | Positive (around 6.15) |
What is mutf_in: sbi_mult_reg_12tgkd2?
This seems to be a platform-specific code, the code muting: sbi_mult_reg_12tgkd2 maps to the SBI Multicap Fund Regular Growth Plan and is used to retrieve end-of-day India mutual fund prices in the same way as the conventional MUTF IN some aggregators use with Indian schemes. It is the same as the SBI multicap fund with an identical weighting to large-, mid-, and small-cap and the constraint of at least 25 percent weighting to each, and the benchmark of the same is NIFTY 500 multicap 50:25:25 TRI. Near the end of the snaps of August 2025, NAV is 16.99 and AUM is 21724.53 crore, and the regular-plan expense ratio is 1.68 percent.
Goal and Task of the Fund
The primary purpose of this scheme is long-term capital appreciation via investment in the whole market caps under the rule of SEBI, which states having a ratio of 25 percent exposure.
The active and diversified investment strategy is due to this:
- Large Caps: Are regular and consistent yielders.
- Mid Caps: They are able to offer superior growth at a moderate risk level.
- Small Caps: They are possibly the most fluctuant and experience the largest growth.
The fund is more likely to reserve more than 90 percent of its wealth in its equities and a small portion with regard to the considerations of cash, government securities, or TREPS to get itself the liquidity.
Performance Analysis og SBI Multicap Fund Regular Growth
The market’s sudden changes may affect its performance, but the SBI Multicap Fund has been yielding reasonable returns since the beginning.
Returns Summary (Regular Plan)
| Period | Returns | Benchmark Returns |
|---|---|---|
| 1 Year | ~8–10% | ~8–9% |
| 2 Years (Annualized) | ~20–21% | ~19–20% |
| 3 Years (Annualized) | ~17–20% | ~18–23% |
| Since Launch (Mar 2022 CAGR) | ~16.8–17% | ~16–17% |
Observations:
- On numerous occasions, the fund has been in the position of tracking or outperforming its benchmark.
- The volatility of small-cap periods has benefited the investors using the SIP through the rupee-cost averaging.
- Sector rotation and stock picking have helped towards outperformance.
Portfolio Structure
The diversification aspect of the portfolio helps to reduce investor risk through the SBI Multicap Fund through both sectors and stocks.
Asset Allocation (As of August 2025)
| Asset Class | Allocation (%) |
|---|---|
| Equities | ~94.46% |
| Cash & Equivalents | ~4.77% |
| Government Securities | ~0.47% |
| Treasury Bills | ~0.30% |
Sector Allocation
| Sector | Allocation (%) |
|---|---|
| Financial Services | ~28–30 |
| Consumer Goods & Services | ~15 |
| Materials | ~14 |
| Telecom | ~5 |
| Utilities | ~4 |
| Healthcare | ~6 |
| Others | Remaining |
Note: The financial sector has the highest allocation, showing the fund’s belief in India’s banking and finance growth story.
Top 10 Stock Holdings (Jul–Aug 2025)
| Stock Name | Sector | Weight (%) |
|---|---|---|
| Kotak Mahindra Bank | Financials | ~4.7 |
| HDFC Bank | Financials | ~4.5 |
| K.P.R. Mill | Textiles | ~4.1–4.3 |
| Muthoot Finance | Financials | ~3.5–4.0 |
| ICICI Bank | Financials | ~3.6–3.8 |
| Jubilant FoodWorks | Consumer Services | ~3.5 |
| Dalmia Bharat | Cement | ~3.1–3.2 |
| Bharti Airtel | Telecom | ~3.2–3.4 |
| Paradeep Phosphates | Fertilizers | ~3.0–3.8 |
| Divi’s Laboratories | Pharmaceuticals | ~2.9–3.0 |
Costs and Charges
| Cost Type | Regular Plan | Direct Plan (Reference) |
|---|---|---|
| Expense Ratio | ~1.67% | ~0.85% |
| Exit Load | 1% within 365 days (beyond free limit) | 1% within 365 days (beyond free limit) |
| Minimum Lumpsum Investment | ₹5,000 | ₹5,000 |
| Minimum SIP | ₹500 – ₹1,000 | ₹500 – ₹1,000 |
Pro Tip: The costs of direct plans are lower, and this can be significant in the long-term returns.
Who should invest in the SBI Multicap Fund Regular Growth?
Those investors who can employ the SBI Multicap Fund Regular Growth:
- It is good with long-term investors who desire to have all market sectors in one basket.
- Middle and high-risk appetite investors.
- In the past, investors with the capacity to tie up the funds for over 5 years or even longer were in a position to withstand the market volatility.
- People who intend to diversify but who do not desire to cope with many funds.
Advantages of SBI Multicap Fund Regular Growth
- Balanced Market Exposure: Profits are on every market cap, but the single-cap danger is kept to a minimum.
- Diversification: By product and inter-industry, and inter-firm.
- Professional Fund Management: The fund has a team that is headed by professionals possessing a successful track record.
- Friendly to SIP: low minimum.
- Good Long Term Track Record: Independent, good returns since the first issue.
Risks & Considerations
- Volatility Risk: The 25 percent on small-cap stocks may bring about increased volatility in the short-term perspective.
- Additional Cost of Regular Plan: to cost-to-spend ratio is almost twice that of the Direct plan.
- Impact on the Market Cycle: Can be behind some cycles in the market versus others due to an active strategy.
Risk Analysis of SBI Multicap Fund Regular Growth
The percentage allocation in small caps of 25 per cent is necessary even in times when the stock market crashes and leads to excessive short-term losses. It has more volatility than all pure large-cap funds, though with larger long-term growth potential.
| Risk Metric | Value | Meaning |
|---|---|---|
| Risk Level | Very High | Equity-heavy with small-cap exposure |
| Standard Deviation | ~13.10 | Indicates volatility level |
| Alpha | ~6.15 | Positive excess returns over the benchmark |
| Beta | Around 1 | Moves broadly in line with the market |
Taxation Rules
According to existing regulations, the state is free to change.
- The tax is cost in the hands of the investor on dividends (when chosen under IDCW).
- Growth option-Defers tax until maturity.
| Holding Period | Type | Tax Rate* |
|---|---|---|
| Up to 1 Year | Short-Term Capital Gains (STCG) | 20% |
| More than 1 Year | Long-Term Capital Gains (LTCG) | 12.5% |
Investment Springboard: This Fund
- Measure Risk Tolerance: Make sure you are okay with small-cap volatility.
- Choose SIPs: Pace out the investments to reduce risks.
- Check regularly: the latest portfolio in the monthly factsheet.
- Match with Objectives: It should be utilized to build long-term wealth creation, rather than short-term needs.
- Avoid Overlap: Do you already hold other small/mid-cap funds? Then adjust to avoid overexposure.
SIP Growth Projection:
In case an investor had begun a 5,000 SIP a month in March 2022 (fund launch):
| Year | Total Invested | Value (Approx.)* |
|---|---|---|
| Year 1 (2023) | ₹60,000 | ₹65,500 |
| Year 2 (2024) | ₹1,20,000 | ₹1,44,000 |
| Year 3 (2025) | ₹1,80,000 | ₹2,17,000 |
*Estimates. The returns are average to date based on values assuming an average CAGR of 16.8% since inception; real returns may differ.
Multicap versus Other Categories: Why Multicap?
The flexicap funds are allowed to move freely at allocation, but multicap funds are allowed a minimum amount of each kind of cap. Multicap gives you access to high-growth small and mid-cap stocks during good markets and markets that feel uncertain. It is a balanced mid-way between pure small-cap and mid-cap funds, which can be riskier.
Conclusion
The SBI Multi-Cap Fund regular growth provides:
- Diversification into a balance of market caps.
- Stable returns since the start.
- Senior management under SBI Mutual Fund.
- Very High risk profile-Patient, long-term investors.
It is a good choice for those who are seeking to invest in a single equity fund across the totality of the market. Nonetheless, the lower expense ratio should also make the Direct plan weigh on the minds of cost-conscious investors.
FAQs:
Ans: It’s an equity multicap fund that must allocate at least 25% each to large-cap, mid-cap, and small-cap stocks as per SEBI’s multicap mandate, offering diversified exposure across the market-cap spectrum.
Ans: The fund is benchmarked to the NIFTY500 Multicap 50:25:25 TRI and carries a Very High risk label, reflecting its mandated exposure to mid and small caps.
Ans: The Regular plan’s total expense ratio is typically around the mid‑1% range (about 1.67–1.68% recently), and an exit load of 1% generally applies if redeemed within 365 days (subject to scheme conditions like the 10% free limit).
Ans: Common minimums are about ₹5,000 for lump sum and ₹500–₹1,000 for SIPs in the Regular plan, though partners and platforms may list slightly different SIP floors.
Ans: Long-term investors (5+ years) seeking a single, actively managed, diversified equity solution across caps, and who can tolerate higher volatility due to the required 25% small-cap exposure.
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