Union Business Cycle Fund
Union Business Cycle Fund is heavily tilted toward cyclical sectors—particularly banks, defense, and industrials—positioning for an economic expansion scenario. The manager is doubling down on financial sector strength through ICICI Bank's significant overweight, while trimming tech and telecom exposure in favor of infrastructure and renewable energy plays like GE Vernova and Suzlon. These shifts suggest conviction in a domestic capex-driven upcycle over service-sector gains.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Direct Growth | ₹11.5500 | — | — | — | — |
| Regular Growth | ₹11.2200 | +0.90% | +3.22% | — | — |
| Direct IDCW | ₹11.5500 | — | — | — | — |
| Regular IDCW | ₹11.2200 | — | — | — | — |
Portfolio Metrics(latest month)
vs Category Peers
Highly DifferentiatedActive Share = ½Σ|wfund − wpeer|, computed using leave-one-out peer portfolio within SEBI category.
Similar Funds in Category
What Changed2026-03-31 → 2026-04-30
| Stock | Weight |
|---|---|
| Bharat Heavy Electricals Ltd. | 2.88% |
| Power Mech Projects Ltd. | 2.43% |
| Bank of Maharashtra | 0.99% |
| Suzlon Energy Ltd. | 0.98% |
| Eternal Ltd. | 0.98% |
| Interglobe Aviation Ltd. | 0.84% |
| 360 ONE WAM Ltd. | 0.34% |
| 364 Day Treasury Bills | 0.10% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | ICICI Bank Ltd. INE090A01021 | 6.93% |
| 2 | Axis Bank Ltd. INE238A01034 | 4.09% |
| 3 | TREPS | 3.65% |
| 4 | Bharat Electronics Ltd. INE263A01024 | 3.12% |
| 5 | Cummins India Ltd. INE298A01020 | 2.94% |
| 6 | Bharat Heavy Electricals Ltd. INE257A01026 | 2.88% |
| 7 | Tata Steel Ltd. INE081A01020 | 2.76% |
| 8 | Solar Industries India Ltd. INE343H01029 | 2.72% |
| 9 | GE Vernova T&D India Ltd. INE200A01026 | 2.58% |
| 10 | Larsen & Toubro Ltd. INE018A01030 | 2.54% |
| 11 | State Bank of India INE062A01020 | 2.46% |
| 12 | Data Patterns (India) Ltd. INE0IX101010 | 2.45% |
| 13 | Reliance Industries Ltd. INE002A01018 | 2.45% |
| 14 | Power Mech Projects Ltd. INE211R01019 | 2.43% |
| 15 | Multi Commodity Exchange of India Ltd. INE745G01043 | 2.38% |
| 16 | Max Financial Services Ltd. INE180A01020 | 2.37% |
| 17 | JSW Energy Ltd. INE121E01018 | 2.32% |
| 18 | Ujjivan Small Finance Bank Ltd. INE551W01018 | 2.04% |
| 19 | Kotak Mahindra Bank Ltd. INE237A01036 | 1.97% |
| 20 | Navin Fluorine International Ltd. INE048G01026 | 1.95% |
Sector Allocation
Top 10 sectors by % to NAV. Excludes derivatives.
Frequently Asked Questions
How many stocks does Union Business Cycle Fund hold?
Union Business Cycle Fund holds 57 stocks as per the latest AMFI portfolio disclosure. The top 5 positions account for 19.96% of NAV.
What is the largest holding in Union Business Cycle Fund?
The largest position in Union Business Cycle Fund is ICICI Bank Ltd., accounting for 6.93% of NAV in the Banks sector.
Is Union Business Cycle Fund a concentrated or diversified fund?
With a Gini coefficient of 0.339, Union Business Cycle Fund is well-diversified. The HHI concentration index is 23,022 bps, which is above the 2500 bps threshold for high concentration. The top 5 holdings together make up 19.96% of the portfolio.
What is the market cap allocation of Union Business Cycle Fund?
Based on SEBI's AMFI classification, Union Business Cycle Fund's equity portfolio is split as: Large Cap: 41.93%, Mid Cap: 22.33%, Small Cap: 26.70%. This reflects the fund's positioning within the market cap spectrum.
Which sectors does Union Business Cycle Fund invest in most?
Union Business Cycle Fund has the highest allocation to Banks (19.76%), Aerospace & Defense (6.52%), Electrical Equipment (6.44%). The fund is invested across 25 sectors in total.
How actively managed is Union Business Cycle Fund compared to other Sectoral / Thematic funds?
Union Business Cycle Fund has an Active Share of 73.99%, classifying it as "Highly Differentiated" among 237 Sectoral / Thematic peers. This means the fund takes significantly different stock positions compared to its category peers.
What changed in Union Business Cycle Fund's portfolio in the latest month?
Between 2026-03-31 and 2026-04-30, Union Business Cycle Fund added 8 new stocks (including Bharat Heavy Electricals Ltd.) and exited 8 stocks (including Bharti Airtel Ltd.). Total holding count remained at 59 stocks.