Focused Mutual Funds in India
Updated June 2026 · 29 active funds · data from AMFI NAVs · benchmark: NIFTY 500 TRI
Focused funds invest at least 65% in equity but, crucially, may hold a maximum of 30 stocks - SEBI caps the portfolio count to enforce concentration. The manager can pick across any market cap (and must disclose the cap focus), but the limited stock count means each holding carries more weight, so high-conviction bets drive returns more directly than in a broadly diversified fund. This concentration is a double-edged sword: when the manager's picks work, a focused fund can outperform sharply; when they don't, the lack of diversification amplifies losses, making these funds more volatile and idiosyncratic than a typical flexi or multi-cap fund. They suit investors who believe in concentrated active management and can tolerate manager-specific risk. The default benchmark on FindMF is the NIFTY 500 TRI, the broad all-cap total-return index. FindMF computes trailing returns, CAGR, volatility, Sharpe, Sortino, maximum drawdown and alpha/beta against the NIFTY 500 TRI from AMFI daily NAVs using a disclosed methodology - particularly useful here, since concentration means a single fund's alpha and drawdown can diverge widely from peers.
Who it suits: Investors comfortable with concentrated, high-conviction portfolios and the higher single-stock risk that comes with a 30-stock cap.
72% of the 29 funds here with a computed alpha beat their benchmark over the measured window (positive alpha). Past performance is not indicative; this is analysis, not advice.
| # | Scheme | 1Y | 3Y | 5Y | Sharpe | Max DD | TER | AUM |
|---|---|---|---|---|---|---|---|---|
| 1 | Invesco India Focused Fund Invesco | -7.70% | +20.50% | +15.51% | 0.66 | -22.0% | 0.59% | ₹4.8K Cr |
| 2 | ICICI Prudential Focused Equity Fund ICICI Prudential | -2.56% | +18.36% | +16.51% | 0.80 | -16.8% | 1.24% | ₹15.0K Cr |
| 3 | Mahindra Manulife Focused Fund Mahindra Manulife | -0.80% | +17.87% | +16.37% | 0.81 | -16.5% | 1.56% | ₹2.2K Cr |
| 4 | HDFC Focused Fund HDFC | -2.96% | +16.99% | +18.89% | 1.02 | -14.0% | 0.78% | ₹26.3K Cr |
| 5 | SBI FOCUSED FUND SBI | +7.27% | +16.75% | +13.26% | 0.64 | -22.5% | 1.01% | ₹42.7K Cr |
| 6 | quant Focused Fund quant | +2.81% | +16.29% | +13.18% | 0.52 | -24.0% | 0.86% | ₹827 Cr |
| 7 | Kotak Focused Fund Kotak Mahindra | +3.57% | +15.66% | +13.55% | 0.63 | -18.4% | 0.54% | ₹3.9K Cr |
| 8 | Bandhan Focused Fund Bandhan | -2.78% | +15.29% | +12.70% | 0.54 | -20.2% | 1.31% | ₹2.0K Cr |
| 9 | DSP Focused Fund DSP | -5.02% | +15.07% | +11.32% | 0.43 | -20.7% | 1.05% | ₹2.6K Cr |
| 10 | HSBC Focused Fund HSBC | +0.45% | +14.88% | +13.30% | 0.54 | -21.2% | 1.06% | ₹1.7K Cr |
| 11 | Edelweiss Focused Fund Edelweiss | -3.55% | +14.07% | - | 0.52 | -17.1% | 0.74% | ₹1.0K Cr |
| 12 | JM Focused Fund (Direct) JM Financial | -4.53% | +14.05% | +13.30% | 0.53 | -19.6% | 1.19% | ₹37 Cr |
| 13 | Aditya Birla Sun Life Focused Fund Aditya Birla Sun Life | -2.82% | +13.98% | +11.86% | 0.52 | -17.2% | 0.88% | ₹7.9K Cr |
| 14 | Canara Robeco Focused Fund Canara Robeco | -5.54% | +13.57% | +13.53% | 0.55 | -18.1% | 0.77% | ₹2.8K Cr |
| 15 | Tata Focused Fund Tata | -3.03% | +12.80% | +12.32% | 0.55 | -19.6% | 0.78% | ₹1.8K Cr |
| 16 | Union Focused Fund Union | +3.43% | +12.47% | +11.34% | 0.48 | -18.4% | 1.91% | ₹407 Cr |
| 17 | JM Focused Fund (Regular) JM Financial | -6.06% | +12.42% | +11.93% | 0.45 | -21.4% | 1.19% | ₹245 Cr |
| 18 | 360 ONE Focused Fund 360 ONE | -3.64% | +12.28% | +12.68% | 0.57 | -21.3% | 0.88% | ₹6.8K Cr |
| 19 | Nippon India Focused Fund Nippon India | -3.67% | +12.23% | +11.69% | 0.49 | -17.6% | 2.05% | ₹8.4K Cr |
| 20 | Sundaram Focused Fund (Formerly Known as Principal Focused Multicap Fund) Sundaram | -2.98% | +11.08% | - | 0.20 | -20.1% | 1.30% | ₹1.0K Cr |
Ranked by trailing return (3Y where available, else 1Y) on funds with at least one year of history. Returns, Sharpe, drawdown and TER are computed independently from AMFI NAVs - see methodology. No paid placement.
Frequently asked questions
How are Focused funds taxed?
Focused funds hold at least 65% in Indian equity, so equity taxation applies: short-term gains (units held under 12 months) at 20%, and long-term gains (12 months or more) at 12.5% on amounts above Rs 1.25 lakh per financial year.
Why are Focused funds riskier than diversified equity funds?
With a maximum of 30 stocks, each position is large, so a few wrong calls hurt more and diversification cushions less. This raises both upside and downside. FindMF's volatility and maximum-drawdown figures, computed from AMFI NAVs, quantify how concentrated each fund's risk has been.
What expense ratio is reasonable, and how do I compare Focused funds?
Direct-plan TERs are mid-range for equity. Because outcomes hinge on a handful of stock calls, compare funds on FindMF using alpha versus the NIFTY 500 TRI, Sortino and drawdown over a full cycle - not one strong year - alongside TER, all computed from AMFI NAVs.
Do all Focused funds invest the same way?
No. The 30-stock cap is the only common rule; managers vary widely in cap focus and sector tilt, so funds behave very differently. FindMF lets you compare each fund's risk and benchmark-relative performance on a consistent basis derived from AMFI NAVs.