Canara Robeco Multicap Fund: Consistent returns since launch

Current Market Scenario

The market rebounded from its 52-week low after the ceasefire was agreed between United States and Iran. The Strait of Hormuz remains shut, and crude oil prices shot up again. The market is range-bound but continues to be volatile. Even though global markets may bounce back if a lasting ceasefire can be agreed, prolonged disruption to global energy flows can have an impact on global economic growth and inflation expectations, making it difficult for central banks to cut interest rates. In the current environment of uncertainty, a stock-specific strategy may be beneficial for long-term investors. In the long term, large, mid and small caps Indian companies are likely to benefit from the structural reforms made by the Government e.g. e.g. Atmanirbhar Bharat, Make in India, Digital India, Atal Innovation Mission, Defence sector reforms, labour law reforms etc.

Valuations have moderated across all market cap segments

The sharp correction has brought down valuations from their previous peaks across all market cap segments. (see the graphic below). As such, investors can find attractive investment opportunities across large-cap, mid-cap, and small-cap stocks in a Multicap strategy. In this article, we will review the Canara Robeco Multicap Fund.

Source: NSE, as on 31^st March 2026

About Canara Robeco Multicap Fund

The fund was launched in July 2023 and has Rs 4,679 Crores AUM (as on 31^st March 2026). As per SEBI mandate, Multicap funds must invest a minimum of 25% of their assets in each of the three market cap segments, i.e., large cap, mid cap, and small cap. The regular plan of the fund has delivered nearly 14% CAGR since inception.

Outperformed the category across market conditions

The chart below shows the 1-year rolling returns of Canara Robeco Multicap Fund versus the Multicap fund category average since the inception of the scheme. You can see that fund outperformed the category average consistently across market conditions.

Source: Advisorkhoj Research as on 28^th April 2026

Superior risk-return trade-off versus peers

Canara Robeco Multicap Fund had higher median and higher minimum returns compared to the category average. The fund also had significantly fewer percentage instances of negative returns compared to the category average and significantly higher percentage instances of 12%+ CAGR returns (see the chart below). The fund offered better risk / return trade off compared to the peer average.

Source: Advisorkhoj Research as on 28^th April 2026

Outperformed the benchmark index across market conditions

The chart below shows the 1-year rolling returns of Canara Robeco Multicap Fund versus the Multicap fund category average since the inception of the scheme. You can see that fund outperformed the benchmark index consistently across market conditions.

Source: Advisorkhoj Research, as on 29^th April 2026

The fund comprehensively outperformed the benchmark index (Nifty 500 Multicap 50:25:25 TRI) and the broad market index Nifty 50 TRI over 1-year investment tenures across different parameters like average, median, maximum and minimum rolling returns. What is noteworthy is that while average, median, and maximum returns of the fund were higher than the benchmarks, the minimum return was also higher than the benchmarks, in other words, strong risk-adjusted returns. The percentage instances of negative 1-year rolling returns of the fund was significantly lower compared to the benchmark index (see the table below). At the same the percentage instances of 12%+ and 20%+ CAGR returns were significantly higher than the benchmark index.

Source: Advisorkhoj Research, as on 29^th April 2026

Limited downside risks for investors

Canara Robeco Multicap Fund experienced smaller drawdowns compared to its benchmark index (see the chart below). It was able to limit downside risks for investors. The maximum drawdown of the scheme was -19%, versus -20% maximum drawdown of the benchmark index.

Source: Advisorkhoj Research, as on 22^nd April 2026

Market capture ratios indicate strong risk adjusted returns

The market has been volatile in the past year. We saw periods of correction followed by periods of recovery. Up Market Capture Ratio tells us how much percentage of the market’s upside was captured by the fund. The Up Market Capture Ratio of Canara Robeco Multicap Fund was 90% which implies that if the benchmark index went up by 1% in a month, then the scheme’s Net Asset Value (NAV) went up by 0.90%. Down Market Capture Ratio tells us how much percentage of the market’s downside was arrested by the fund. The Down Market Capture Ratio of the fund was only 89% which implies that if the benchmark index went down by 1% in a month, then the scheme’s Net Asset Value (NAV) went down by 0.89% only. The market capture ratios of Canara Robeco Multicap Fund are a clear indication of the potential of the fund to give superior risk adjusted returns of the fund.

Current portfolio positioning

Source: Advisorkhoj Research, as on 31^st March 2026

Who should invest in Canara Robeco Multicap Fund?

• Investors seeking capital appreciation over long investment horizon
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• Investors who want exposure across all market cap segments in a single fund
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• Investors with minimum 5-year investment horizon
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• Investors with very high-risk appetites

Investors should consult with their financial advisors or mutual fund distributors if Canara Robeco Multicap Fund is suitable for their investment needs.