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Live Fund Rankings

Best Flexi Cap Funds in India

By FundSageAI Quantitative Research Team•Data computed as of 20 September 2026

What is a Flexi Cap Fund?

High Volatility

Flexi Cap Funds are equity mutual funds required to invest at least 65% of assets in equity, with complete freedom to allocate across large, mid, and small cap companies in any proportion. This gives the fund manager flexibility to shift the portfolio's market-cap mix as opportunities and risks change across the market cycle, unlike Large Cap or Mid Cap funds which are bound to a fixed market-cap band.

SEBI Category Profile & Regulatory Benchmark

SEBI Mandate
Minimum 65% in equity with dynamic unconstrained allocation across Large, Mid, Small caps
Standard Benchmark
NIFTY 500 TRI / S&P BSE 500 TRI
Recommended Horizon
5-7+ Years
Tax Treatment (FY 2025-26)
Section 112A: 12.5% LTCG (>12M, above ₹1.25L) • Section 111A: 20% STCG (≤12M)

Ideal for

Investors who want a single diversified equity fund and are comfortable trusting the fund manager's market-cap allocation calls.

FundExp. Ratio3 Year RR
BANK OF INDIA Flexi Cap FundDG0.86%25.23%
Invesco India Flexi Cap FundDG0.85%22.73%
ITI Flexi Cap FundDG0.91%21.64%

Growth of ₹1,00,000 over 3 years

Illustrative — assumes a steady return equal to each fund's 3-year rolling CAGR. Not a guarantee of actual or future performance.

BANK OF INDIA Flexi Cap Fund

₹2.0L

25.23% CAGR

Invesco India Flexi Cap Fund

₹1.8L

22.73% CAGR

ITI Flexi Cap Fund

₹1.8L

21.64% CAGR

Key Terms

Flexi Cap Fund

A SEBI category (introduced in 2020) with a minimum 65% equity requirement and no fixed market-cap allocation — the fund manager can move freely between large, mid, and small cap stocks.

Multi Cap Fund

A related but distinct SEBI category that, unlike Flexi Cap, mandates a minimum 25% allocation each to large, mid, and small cap stocks.

Frequently Asked Questions

How does FundSageAI rank Flexi Cap Funds with dynamic asset allocations?

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Flexi Cap schemes are evaluated on multi-year rolling returns across varying market regimes. Because managers have unrestricted mandate to rotate across large, mid, and small caps (minimum 65% total equity), our ranking isolates manager asset-allocation skill and net alpha after total expense ratio (TER) deductions.

What is the difference between Flexi Cap and Multi Cap funds?

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Flexi Cap Funds have no fixed market-cap allocation — the manager can invest anywhere from 0-100% in large, mid, or small caps within the 65% equity minimum. Multi Cap Funds, by SEBI mandate, must hold at least 25% each in large, mid, and small cap stocks at all times.

Is a Flexi Cap Fund enough as my only equity fund?

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Many investors use a single well-diversified Flexi Cap Fund as their core equity holding, since it already spans large, mid, and small caps. Some choose to add a Mid or Small Cap fund on top for higher small/mid cap exposure than the Flexi Cap manager currently holds.

How does the fund manager decide the market-cap mix in a Flexi Cap fund?

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There's no SEBI-mandated formula — each AMC's fund manager decides the large/mid/small cap split based on their own valuation views and market outlook, which is why allocation can vary significantly between different Flexi Cap funds.

How often is this ranking updated?

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Rankings are recomputed weekly from NAV history. The "Data as of" line above the table shows when these numbers were last refreshed.

Is this financial advice?

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No. This page shows category rankings by historical rolling return only. It is not personalized investment advice and does not account for your goals or risk tolerance. Past performance is not indicative of future results.

FundSageAI is an analytics platform. Rankings on this page are informational only and do not constitute personalized investment advice. Past performance is not indicative of future results. Consult a SEBI-registered investment advisor before investing.