JM Focused Fund
JM Financial Mutual Fund · Focused · Direct plan, growth option
NAV (₹), 1 Oct 2026
22.7577
1-day change
-1.61%
1Y return
-2.4%
3Y CAGR
10.6%
5Y CAGR
11.7%
Max drawdown, 5Y
−19.6%
NAV history month-end NAV, ₹ · 2 Jan 2013 to 1 Oct 2026
Returns vs Focused median (28 schemes)
| Period | Scheme | Category median |
|---|---|---|
| 1 month | -6.3% | -5.8% |
| 3 months | -3.6% | -3.4% |
| 6 months | 10.8% | 10.4% |
| Year to date | -3.6% | -3.8% |
| 1 year | -2.4% | -0.2% |
| 3 years (CAGR) | 10.6% | 11.1% |
| 5 years (CAGR) | 11.7% | 10.8% |
| 7 years (CAGR) | 12.5% | 15.3% |
| 10 years (CAGR) | 12.0% | 13.1% |
| Since first NAV (CAGR) | 13.6% | – |
Rolling returns every business-day start date
| Measure | Scheme | Category median |
|---|---|---|
| 1Y rolling median | 12.9% | 12.7% |
| 3Y rolling median | 16.8% | 16.7% |
| 3Y rolling worst | -4.6% | 5.5% |
| 3Y periods positive | 95% | 100% |
| 3Y periods ahead of benchmark | 75% | 75% |
| 5Y rolling median | 14.7% | 15.7% |
| 5Y rolling worst | 2.4% | 3.7% |
| 5Y periods ahead of benchmark | 58% | 94% |
Benchmark: Nifty 500 (proxy: Motilal Oswal Nifty 500 Index Fund, price return).
Risk 36 months, monthly returns, Rf 6.5%
| Measure | Scheme | Category median |
|---|---|---|
| Standard deviation (ann.) | 17.3% | 15.4% |
| Sharpe ratio | 0.30 | 0.38 |
| Sortino ratio | 0.44 | 0.55 |
| Beta | 1.05 | 0.94 |
| Alpha (ann.) | 1.6% | 2.6% |
| Upside capture | 113.62 | 102.75 |
| Downside capture | 105.70 | 94.28 |
Drawdowns peak-to-trough falls in NAV
| Measure | Scheme | Category median |
|---|---|---|
| Maximum drawdown, full history | −37.4% | −34.1% |
| Maximum drawdown, last 10Y | −37.4% | −36.7% |
| Maximum drawdown, last 5Y | −19.6% | −19.6% |
| Current drawdown | −8.4% | −7.9% |
| Recovery time of worst fall | 266 days | – |
Longer histories include more crises, so compare the 5Y and 10Y figures across schemes of different ages.
Direct or Regular for this scheme?
The Regular plan's expense ratio is 2.85% a year and the Direct plan's 1.25%, a gap of 1.60%; over the last 3 years the Direct plan returned 1.65 percentage points a year more. On a ₹25,000 monthly SIP for 20 years (illustration at 12% a year before costs) the gap adds up to about ₹34,17,441.
With the Regular plan, that cost pays a distributor to help you plan, choose and review funds, and stay invested when markets fall. Whether it is worth it depends on how much of that you will do yourself.
TER: AMFI TER disclosure. Returns: AMFI NAVs. Illustration, not a guaranteed saving or return.
Fund managers and scheme facts Scheme Summary Document via AMFI
| Fund manager | Role | Managing since |
|---|---|---|
| Asit Bhandarkar | 25 Feb 2009 | |
| Satish Ramanathan | 1 Oct 2024 | |
| Deepak Gupta | 11 Apr 2025 | |
| Ruchi Fozdar | For Debt portion only | 4 Oct 2024 |
Objective: The investment objective of the Scheme is to generate long-term capital appreciation/income by investing in equity and equity related instruments across market capitalization of up to 30 companies. However there can be no assurance that the investment objective of the Scheme will be realized. The Scheme does not guarantee/indicate any returns. Investors are required to read all the scheme related information set out in this document carefully.
Stated asset allocation: Equity and Equity related instruments* - 80% - 100%, Money Market Instruments / InvITs/ Gold ETFs / Silver ETFs / Other Liquid Instruments / Units of Domestic Mutual Funds^ - 0% - 20% *Subject to overall limit of 30 stocks. ^Any other security as may be permitted by SEBI/ RBI from time to time. Other Liquid instruments includes cash, bank deposits with Scheduled Commercial Banks, Government Securities, Treasury bills, Repo on Government securities and any other instruments as specified by the SEBI. The scheme may invest in the units of Overnight Fund, Money Market Fund & Liquid Fund.
Benchmark (tier 1): BSE 500 TRI
Exit load: If the units are redeemed/switched out on or before 30 days from the date of allotment – 1.00%. If the units are redeemed / switched out after 30 days from the date of allotment – Nil.
Minimum application: ₹1,000
Allotment date: 5 Mar 2008
Documents: Scheme Information Document · Scheme Summary Document. Read the scheme documents before investing.
Cost, size and riskometer as disclosed to AMFI
| Measure | Scheme | Category median |
|---|---|---|
| Expense ratio (TER), Direct plan | 1.25% | 1.06% |
| AUM, whole scheme (₹ crore) | 273 | 2,407 |
| Riskometer | Very High | – |
TER: AMFI, TER of MF Schemes. AUM and riskometer: AMFI, Fund Performance, 30 Sep 2026.
Official benchmark and category consistency
| Measure | Scheme | Benchmark / category |
|---|---|---|
| Return, 1 year (AMFI) | 0.0% | -2.3% TRI |
| Return, 3 years (AMFI) | 11.2% | 9.2% TRI |
| Return, 5 years (AMFI) | 12.0% | 8.9% TRI |
| Month-ends above category median (3Y CAGR) | 61% | 48% median |
| Month-ends in category top quartile (3Y) | 38% | 21% median |
| 7Y rolling CAGR, median (monthly windows) | 13.6% | 14.3% median |
Official benchmark: BSE 500 TRI (total return index, as published by AMFI). Category consistency: last 10 years of month-ends, Focused Direct plans; how it is calculated.
Calendar-year returns NAV change from 31 Dec to 31 Dec
| Year | Scheme | Nifty 500 proxy | Difference |
|---|---|---|---|
| 2026 YTD | -3.6% | -7.8% | +4.2% |
| 2025 | -0.3% | 7.7% | −8.0% |
| 2024 | 26.1% | 15.6% | +10.5% |
| 2023 | 34.1% | 26.5% | +7.5% |
| 2022 | 7.9% | 3.8% | +4.2% |
| 2021 | 17.6% | 30.6% | −13.0% |
| 2020 | 7.9% | 17.2% | −9.3% |
| 2019 | 12.8% | n/a | – |
| 2018 | -4.0% | n/a | – |
| 2017 | 44.5% | n/a | – |
Benchmark proxy: Motilal Oswal Nifty 500 Index Fund (Direct plan NAV, price return), which carries its own costs. The first year starts from the first 31 December in the scheme's history.
Monthly SIP of ₹10,000 first business day of each month, ending 1 Oct 2026
| Period | Invested | Value | XIRR |
|---|---|---|---|
| 1 year | ₹1,20,000 | ₹1,18,159 | -2.8% |
| 3 years | ₹3,60,000 | ₹3,74,706 | 2.6% |
| 5 years | ₹6,00,000 | ₹7,78,558 | 10.4% |
| 10 years | ₹12,00,000 | ₹22,77,251 | 12.3% |
Uses this plan's NAVs; ignores stamp duty, exit loads and taxes. One historical path only — the interactive SIP analyzer shows outcomes across every start date.
Scheme facts
Category: Focused
Plan / option: Direct · Growth
AMFI scheme code: 120488
ISIN: INF192K01BW7
First NAV in MFIC data: 2 Jan 2013
History: 13.7 years
Portfolio holdings: see the scheme's monthly portfolio disclosure on the fund house website
Schemes that behaved similarly correlation of monthly returns, last 5 years
| Scheme | Category | Correlation | 3Y CAGR |
|---|---|---|---|
| PGIM India Multi Cap Fund | Multi Cap | 0.98 | n/a |
| Bandhan Business Cycle Fund | Sectoral/Thematic | 0.98 | n/a |
| Helios Flexi Cap Fund | Flexi Cap | 0.97 | n/a |
| ITI Large & Mid Cap Fund | Large & Mid Cap | 0.97 | n/a |
| HSBC Multi Cap Fund | Multi Cap | 0.97 | 17.0% |
| JM ELSS - Tax Saver Fund | ELSS | 0.97 | 15.3% |
Questions about JM Focused Fund
- What is the latest NAV of JM Focused Fund?
- The NAV of the Direct plan (growth option) was ₹22.7577 on 1 Oct 2026, as published by AMFI.
- Which category is JM Focused Fund in?
- It is classified as Focused in AMFI's daily NAV file; a Focused scheme holds at most 30 stocks. MFIC compares it with 28 Focused schemes (Direct plans).
- What returns has JM Focused Fund delivered?
- Over one year the NAV changed by -2.4%. The 3-year CAGR is 10.6% (category median 11.1%) and the 5-year CAGR is 11.7% (category median 10.8%). Returns are after expenses and before tax. Past performance may or may not be sustained in future.
- How consistent have its 3-year returns been?
- Measuring a 3-year CAGR from every business day in its history, the median was 16.8%, the lowest was -4.6%, and 95% of 3-year periods ended with a gain. It was ahead of Nifty 500 (index-fund proxy) in 75% of those periods.
- What was the largest fall in JM Focused Fund's NAV?
- The largest peak-to-trough fall in its available history was 37.4%; within the last five years it was 19.6% (category median 19.6%).
- How volatile is JM Focused Fund?
- Its annualised standard deviation of monthly returns over the last 36 months is 17.3%, which is above the Focused category median of 15.4%.
- What would a monthly SIP in JM Focused Fund have grown to?
- A SIP of ₹10,000 on the first business day of each month for the last 5 years (60 instalments, ₹6,00,000 invested) would have been worth about ₹7,78,558 on 1 Oct 2026, an annualised return (XIRR) of 10.4%. This uses the Direct plan's NAVs, ignores taxes and exit loads, and past performance may or may not be sustained in future.
- What is the expense ratio (TER) of JM Focused Fund?
- The total expense ratio of the Direct plan is 1.25% a year, as disclosed to AMFI (median of Focused Direct plans: 1.06%). It is already deducted from the NAV, so every return shown is after expenses.
- How large is JM Focused Fund?
- Assets under management of the whole scheme were ₹273 crore on 30 Sep 2026, as published by AMFI.
- What is the riskometer level of JM Focused Fund?
- AMFI lists the scheme's riskometer as “Very High”, and its benchmark's as “Very High”. The riskometer is a label of potential risk set under SEBI rules, not a forecast.
- What is the benchmark of JM Focused Fund and how has it compared?
- Its official benchmark is the BSE 500 TRI. Over 3 years AMFI reports a return of 11.2% for this plan against 9.2% for the benchmark total return index; over 5 years 12.0% against 8.9%. Past performance does not indicate future results.
- How often has JM Focused Fund beaten its category?
- At 61% of the 120 month-ends compared over the last 10 years, its 3-year return was above the median of Focused schemes (Direct plans); it was in the top quarter at 38% of them. A typical scheme would show about 50%.
- Who manages JM Focused Fund?
- According to its Scheme Summary Document, JM Focused Fund is managed by Asit Bhandarkar (since 25 Feb 2009), Satish Ramanathan (since 1 Oct 2024), Deepak Gupta (since 11 Apr 2025), Ruchi Fozdar (since 4 Oct 2024).
- What is the exit load of JM Focused Fund?
- As stated in its scheme documents: If the units are redeemed/switched out on or before 30 days from the date of allotment – 1.00%. If the units are redeemed / switched out after 30 days from the date of allotment – Nil. Check the latest Scheme Information Document before investing, as loads can change.
- What is the minimum investment in JM Focused Fund?
- The minimum application amount is ₹1,000. SIP details: SIP - Daily, Weekly and Fortnightly - Rs. 500 - 6 Installments ; Monthly and Quarterly - Rs. 1000 - 6 Installments, STP- Daily 60 installments: 100 each. Further in multiples of Re 1/- Weekly/Fortnightly/Monthly : 12 installments for Rs. 500 or 6 installments for Rs. 1000 each. Further in multiple of Re 1/-. Quaterly : 3000 each 2 Instalments, SWP - Fixed Amount Withdrawal (FAW) - 5 instalments for Rs. 500/- each. Further in multiples of Re. 1/-; Capital Appreciation Withdrawal (CAW) - 5 instal….
- What is the difference between the Direct and Regular plans?
- Both plans hold the same portfolio; the Regular plan includes distribution costs in its expense ratio. Over one year the Direct plan's NAV changed by -2.4% and the Regular plan's by -4.0%. The Regular plan includes the services of a distributor.
Reviewing your own mutual fund portfolio?
Integrato's team can walk you through how your current schemes have behaved, using the same data shown here. Integrato is an AMFI-registered Mutual Fund Distributor.
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Data & disclosure. Source: AMFI daily NAV file and historical NAVs via mfapi.in; calculations by MFIC, as of 1 Oct 2026. Category medians use Direct plans in the same AMFI category. Mutual fund investments are subject to market risks; read all scheme-related documents carefully. Past performance may or may not be sustained in future. This page is for research and education only and is not investment advice or a recommendation to buy, sell or hold any scheme. Integrato Financial Services Pvt. Ltd. is an AMFI-registered Mutual Fund Distributor (ARN-173155). Methodology.