360 ONE Flexicap Fund: Investments across market caps during volatility

Recent times have seen the markets go through a seesaw of volatility that has left investors perplexed as to what lies next. A rebound in the markets was seen from its 52- week low after a ceasefire was announced but continued uncertainty has created dips that can be unnerving to the most resilient investor. However, the fall in different market caps have brought down valuations to favourable levels across different market cap segments.

Advisorkhoj Research as of 15^th May 2026

Flexicap funds are diversified equity mutual fund schemes which can invest across market cap segments. There are no upper or lower limits with respect to allocations to any market cap segment. The fund managers of these schemes can invest any percentage of their assets in any market cap segment viz. large cap, midcap and small cap according to their market outlook. In current scenario, a Flexicap allocation strategy has the potential to create higher alphas for your portfolio in the long term and also provides relative stability in volatile markets by quickly shedding risks if the situation demands. In this article, we will review the 360 ONE Flexicap fund, which was launched in June 2023 after IIFL MF became 360 ONE MF.

Case for Indian equities

Though Indian has underperformed versus other major market indices in the recent past, Indian has outperformed in the long term. The chart below shows, the calendar year returns of MSCI ACWI TRI (in INR) and Nifty 500 TRI over the last 10 years. You can see that, except for the last 3 years, Nifty 500 outperformed MSCI ACWI 6 times in the previous 7 years.

Source: Advisorkhoj Research as on 15^th May 2026

The long term outlook for Indian equities remain bright with stable macros, strong growth in consumption demand driven by per capita income growth, tax reforms, rising affluence, demographic advantages and shifting consumption patterns.

About the 360 ONE Flexicap fund

The investment objective of the 360 ONE Flexicap fund is to generate long-term capital appreciation by primarily investing in equity and equity-related securities across the entire market capitalization range and investing the remaining portion in debt and money market instruments. Fund manager Mr. Mayur Patel and co-fund manager Mr. Ashish Ongari manage the fund.

Superior performance consistency relative to peer average

The chart below shows the1-year rolling returns of the 360 ONE Flexicap Fund versus the category average since the inception of the scheme. You can see that the fund consistently outperformed or matched peer performance.

Source: Advisorkhoj Research as on 15^th May 2026

The chart below shows the 1 year rolling returns distribution of 360 ONE Flexicap Fund versus the flexicap category average since the inception of the scheme. You can see that the fund had higher instances of double digit returns during this period compared to the category average.

Source: Advisorkhoj Research as on 15^th May 2026

Superior performance consistency in volatile markets

The chart below shows the monthly rolling returns of 360 ONE Flexicap Fund versus the category average since the beginning of this calendar year. In these volatile market conditions, the fund able to consistently beat the category average.

Source: Advisorkhoj Research as on 15^th May 2026

Investment Strategy of 360 ONE Flexicap Fund

360 ONE Flexicap Fund does not have any market cap bias. The fund manager employs bottom-up stock picking approach. The fund manager follows SCDV Framework along with internal (financial analysis, corporate governance checks, risk reward evaluation, etc) and external analysis (conferences, investor presentations, management interaction, primary visits across supply chain, etc) for stock selection.

SCDV Framework

In the SCDV Stocks are classified into 4 categories based on their PAT (Profit after Tax) growth and ROE (Return on Equity).

• Secular: Companies delivering high PAT and ROE growth rates, playing out India's secular upward growth shift.


• Cyclicals: High growth companies which typically have high capital expenditures and hence a lower ROE. These have relatively higher sensitivity to business and economic cycles.


• Defensive: Companies that have high ROE and lower growth rates, low capital expenditures and sensitivity to business cycles, but that provide a cushion to returns during downturns.


• Value Traps: Companies that register low growth rates and ROE, which are typically avoided across public equity strategies.

Current portfolio

Source: 360 ONE MF Fund Factsheet as on 30^th April 2026

Why invest in 360 ONE Flexicap Fund?

• Unique SCDV framework - It enables the fund managers to capture ideas across different market cap segments (Growth, Quality, Value etc)


• Strong bottom-up stock selection - Identify investment opportunities across market cap segments based on in-depth fundamental research


• Technology enabled investment process - Custom build research management system, including multiple analytical tools that help to generate investment ideas


• Seasoned fund management team with a track record - The fund managers have a combined experience of 45 years


• Opportunistic investment in special situations - The fund may also invest in opportunities arising from IPOs / FPOs, OFS, promoter buying, demergers, and acquisitions

Who should invest in 360 ONE Flexicap Funds?

• Investors with long term investment horizon i.e., 5-7 years or more.


• Investors with a high-risk appetite who can tolerate the short-term volatility associated with equity investments.


• They are suitable for investors who want to invest from their monthly savings through SIP for their long-term financial goals like children's higher education, marriage, retirement planning, wealth creation etc.


• Investors who wish to avoid the complexities of determining allocation among large, mid, and small-cap stocks independently

You should consult with your financial advisor to determine if 360 ONE Flexicap is suitable for your investment needs.