Tata · Index Funds

Tata Nifty500 Multicap India Manufacturing 50 30 20 Index Fund

Other Scheme - Index Funds Direct plan, growth launched 8 Apr 2024 open-ended

At a glance

the fund as it stands today, from public disclosures

NAV, 21 Sep 2026

₹12.28

+0.39% since 18 Sep 2026, the previous NAV

1 year

4.8%

return

3 years

not enough history

5 years

not enough history

Since launch

8.8%

a year, over 2.4 years

Assets (AUM)

₹132 Cr

Jul 2026 factsheet

Expense ratio, Direct / Regular

0.39% / 0.90%

a year, as of Jul 2026

Holdings

top ten are 41% of the fund · Aug 2026

Disclosed history

2.4 yrs

Apr 2024 – Aug 2026 · 4 of 11 checks could run

Fund managers

Rakesh Indrajeet Prajapati · since at least Feb 2025Nitin Bharat Sharma · since Nov 2025

All managers →

As the Jul 2026 factsheet printed it: portfolio turnover 0.42×. Exit load and minimum investment are not yet extracted from the scheme documents.

What only Anveshan can tell you

measured from the disclosures, not quoted from a brochure — each links to how it was done

P5Cost, measured

Regular plan costs 0.69% a year more than Direct

₹14,128 on ₹1 lakh over ten years. Same portfolio, two prices — the difference is what the Regular plan's distribution costs you, read from the two NAVs.

See how it is measured →

P7Whose record

Run by Rakesh Indrajeet Prajapati for at least 1.5 yrs

with Nitin Bharat Sharma · the factsheet archive starts Feb 2025, so this is a floor. A return earned before they arrived is the house's record, not theirs — the tenure table shows the fund against its category over exactly their months.

Rakesh Indrajeet Prajapati's other funds →

NAVTracking gap

NAV replicates within 0.2 bp of its disclosed portfolio

0 jumps since the last disclosure. We re-price the last disclosed portfolio every day and compare it with the NAV the fund published; a gap that opens and stays is a trade not yet disclosed.

See the daily gap →

P4Consistency

Not measurable yet: needs three years of NAV and a category median.

Take every three-year stretch since the fund had a NAV, one starting each month, and ask two things of each: did it beat the typical fund in its category, and by how much. Counting the wins tells you the record does not depend on when you happen to look; averaging the margin tells you whether winning often was worth anything, because four small wins do not pay for one large loss.

See every window →

headline and record disagree One check found the headline number and the underlying record pointing different ways — marked on the cards below.

NAV and drawdown

Direct plan, growth class · as of 21 Sep 2026

Month-end NAV, indexed to 100 at Apr 2024

30 month-ends · ₹10.04 → ₹12.28, 1.2× since Apr 2024

Deepest fall (max drawdown)

−21.3%

27 Sep 2024 → 7 Apr 2025

Worst month

−9.7%

Mar 2026

Days to recover

394

from the deepest trough back to the old high

Drawdown is measured on the last year of daily NAV; trailing returns are CAGR of the direct growth class. A single end date decides them — the consistency card (P4) below is the record that does not, and it reports both how often the fund beat its category and by how much, because the first without the second can point the wrong way.

Holdings

Aug 2026 disclosure · 77 lines · when each was first held and the change over the last three disclosures

#	Holding	Sector	Weight	First held	Held for	3-mo change
1	RELIANCE INDUSTRIES LTD equity	Petroleum Products	9.46%	Apr 2024	2.4 yrs	+1.00%
2	MAHINDRA & MAHINDRA LTD equity	Automobiles	6.12%	Apr 2024	2.4 yrs	+0.35%
3	SUN PHARMACEUTICAL INDUSTRIES LTD equity	Pharmaceuticals & Biotechnology	4.39%	Apr 2024	2.4 yrs	+0.35%
4	MARUTI SUZUKI INDIA LTD equity	Automobiles	3.69%	Apr 2024	2.4 yrs	+0.04%
5	TATA STEEL LTD equity	Ferrous Metals	3.18%	Apr 2024	2.4 yrs	-0.46%
6	BHARAT ELECTRONICS LTD equity	Aerospace & Defense	3.10%	Apr 2024	2.4 yrs	-0.02%
7	HINDALCO INDUSTRIES LTD equity	Non - Ferrous Metals	3.07%	Apr 2024	2.4 yrs	-0.39%
8	BAJAJ AUTO LTD equity	Automobiles	2.81%	Apr 2024	2.4 yrs	+0.35%
9	JSW STEEL LTD equity	Ferrous Metals	2.56%	Apr 2024	2.4 yrs	+0.02%
10	DIVI LABORATORIES LTD equity	Pharmaceuticals & Biotechnology	2.51%	Sep 2025	1.0 yrs	+0.71%
11	EICHER MOTORS LTD equity	Automobiles	2.29%	Apr 2024	2.4 yrs	+0.20%
12	LAURUS LABS LTD equity	Pharmaceuticals & Biotechnology	2.16%	Apr 2024	2.4 yrs	+0.51%
13	HERO MOTOCORP LTD equity	Automobiles	2.05%	Apr 2024	2.4 yrs	+0.07%
14	HINDUSTAN AERONAUTICS LTD equity	Aerospace & Defense	1.90%	Sep 2024	2.0 yrs	+0.17%
15	BHARAT HEAVY ELECTRICALS LTD equity	Electrical Equipment	1.87%	Mar 2025	1.5 yrs	-0.02%
16	DIXON TECHNOLOGIES (INDIA) LTD equity	Consumer Durables	1.78%	Apr 2024	2.4 yrs	+0.30%
17	SUZLON ENERGY LTD equity	Electrical Equipment	1.67%	Sep 2025	1.0 yrs	-0.48%
18	CIPLA LTD equity	Pharmaceuticals & Biotechnology	1.66%	Apr 2024	2.4 yrs	-0.01%
19	BHARAT FORGE LTD equity	Auto Components	1.63%	Apr 2024	2.4 yrs	+0.01%
20	LUPIN LTD equity	Pharmaceuticals & Biotechnology	1.54%	Apr 2024	2.4 yrs	-0.17%
21	SONA BLW PRECISION FORGINGS LTD equity	Auto Components	1.50%	Mar 2025	1.5 yrs	+0.20%
22	DR REDDYS LABORATORIES LTD equity	Pharmaceuticals & Biotechnology	1.47%	Oct 2024	1.9 yrs	-0.21%
23	POLYCAB INDIA LTD equity	Industrial Products	1.46%	Apr 2024	2.4 yrs	-0.10%
24	ASHOK LEYLAND LTD equity	Agricultural, Commercial & Construction Vehicles	1.46%	Apr 2024	2.4 yrs	+0.08%
25	AUROBINDO PHARMA LTD equity	Pharmaceuticals & Biotechnology	1.38%	Apr 2024	2.4 yrs	+0.14%
26	ATHER ENERGY LTD equity	Automobiles	1.36%	Mar 2026	6 mo	+0.48%
27	TATA MOTORS PASSENGER VEHICLES LTD equity	Automobiles	1.35%	Apr 2024	2.4 yrs	-0.40%
28	NAVIN FLUORINE INTERNATIONAL LTD equity	Chemicals & Petrochemicals	1.31%	Apr 2024	2.4 yrs	+0.06%
29	WELSPUN CORP LTD equity	Industrial Products	1.29%	Apr 2024	2.4 yrs	+0.43%
30	APL APOLLO TUBES LTD equity	Industrial Products	1.17%	Sep 2025	1.0 yrs	+0.13%
31	GLENMARK PHARMACEUTICALS LTD equity	Pharmaceuticals & Biotechnology	1.08%	Apr 2024	2.4 yrs	+0.01%
32	SRF LTD equity	Chemicals & Petrochemicals	1.08%	Sep 2024	2.0 yrs	-0.15%
33	HINDUSTAN PETROLEUM CORPORATION LTD equity	Petroleum Products	1.02%	Apr 2024	2.4 yrs	-0.16%
34	GLAND PHARMA LTD equity	Pharmaceuticals & Biotechnology	0.95%	Sep 2025	1.0 yrs	+0.10%
35	UPL LTD equity	Fertilizers & Agrochemicals	0.91%	Apr 2024	2.4 yrs	-0.22%
36	HAVELLS INDIA LTD equity	Consumer Durables	0.91%	Mar 2026	6 mo	-0.01%
37	ALKEM LABORATORIES LTD equity	Pharmaceuticals & Biotechnology	0.90%	Apr 2024	2.4 yrs	-0.10%
38	TUBE INVESTMENTS OF INDIA LTD equity	Auto Components	0.86%	Mar 2025	1.5 yrs	-0.18%
39	SAI LIFE SCIENCES LTD equity	Pharmaceuticals & Biotechnology	0.83%	Dec 2025	9 mo	+0.07%
40	NEULAND LABORATORIES LTD equity	Pharmaceuticals & Biotechnology	0.82%	Mar 2025	1.5 yrs	+0.12%
41	MANKIND PHARMA LTD equity	Pharmaceuticals & Biotechnology	0.79%	Sep 2025	1.0 yrs	-0.05%
42	VOLTAS LTD equity	Consumer Durables	0.79%	Apr 2024	2.4 yrs	-0.09%
43	HINDUSTAN COPPER LTD equity	Non - Ferrous Metals	0.71%	Apr 2024	2.4 yrs	-0.13%
44	AMBER ENTERPRISES INDIA LTD equity	Consumer Durables	0.68%	Apr 2024	2.4 yrs	-0.11%
45	SUPREME INDUSTRIES LTD equity	Industrial Products	0.66%	Mar 2025	1.5 yrs	-0.05%
46	PAGE INDUSTRIES LTD equity	Textiles & Apparels	0.65%	Apr 2024	2.4 yrs	-0.10%
47	WOCKHARDT LTD equity	Pharmaceuticals & Biotechnology	0.64%	Sep 2025	1.0 yrs	-0.16%
48	HIMADRI SPECIALITY CHEMICAL LTD equity	Chemicals & Petrochemicals	0.64%	Mar 2025	1.5 yrs	-0.04%
49	CROMPTON GREAVES CONSUMER ELECTRICALS LTD equity	Consumer Durables	0.62%	Apr 2024	2.4 yrs	-0.24%
50	EXIDE INDUSTRIES LTD equity	Auto Components	0.58%	Apr 2024	2.4 yrs	+0.03%
51	PI INDUSTRIES LTD equity	Fertilizers & Agrochemicals	0.56%	Apr 2024	2.4 yrs	-0.14%
52	ELGI EQUIPMENTS LTD equity	Industrial Products	0.55%	Apr 2024	2.4 yrs	-0.04%
53	PIRAMAL PHARMA LTD equity	Pharmaceuticals & Biotechnology	0.55%	Apr 2024	2.4 yrs	+0.04%
54	ASTRAL LTD (ERSTWHILE ASTRAL POLY TECHNIK LTD) equity	Industrial Products	0.54%	Apr 2024	2.4 yrs	-0.06%
55	CARBORUNDUM UNIVERSAL LTD equity	Industrial Products	0.53%	Mar 2025	1.5 yrs	-0.04%
56	GRANULES INDIA LTD equity	Pharmaceuticals & Biotechnology	0.49%	Apr 2024	2.4 yrs	-0.04%
57	DEEPAK NITRITE LTD equity	Chemicals & Petrochemicals	0.49%	Mar 2026	6 mo	-0.06%
58	ASAHI INDIA GLASS LTD equity	Auto Components	0.47%	Mar 2026	6 mo	-0.05%
59	KAYNES TECHNOLOGY INDIA LTD equity	Industrial Manufacturing	0.47%	Apr 2024	2.4 yrs	0.00%
60	ZF COMMERCIAL VEHICLE CONTROL SYSTEMS INDIA LTD equity	Auto Components	0.47%	Mar 2026	6 mo	-0.06%
61	TIMKEN INDIA LTD equity	Industrial Products	0.46%	Mar 2025	1.5 yrs	-0.16%
62	AMARA RAJA ENERGY & MOBILITY LTD equity	Auto Components	0.45%	Apr 2024	2.4 yrs	-0.07%
63	AARTI INDUSTRIES LTD equity	Chemicals & Petrochemicals	0.44%	Apr 2024	2.4 yrs	-0.02%
64	KAJARIA CERAMICS LTD equity	Consumer Durables	0.42%	Sep 2024	2.0 yrs	0.00%
65	ATUL LTD equity	Chemicals & Petrochemicals	0.42%	Sep 2024	2.0 yrs	-0.10%
66	TATA CHEMICALS LTD equity	Chemicals & Petrochemicals	0.41%	Apr 2024	2.4 yrs	-0.15%
67	PG ELECTROPLAST LTD equity	Consumer Durables	0.39%	Sep 2025	1.0 yrs	+0.02%
68	MOTHERSON SUMI WIRING INDIA LTD equity	Auto Components	0.38%	Mar 2026	6 mo	-0.09%
69	CASTROL INDIA LTD equity	Petroleum Products	0.36%	Apr 2024	2.4 yrs	-0.06%
70	FORCE MOTORS LTD equity	Automobiles	0.35%	Jul 2026	2 mo	+0.35%
71	NATCO PHARMA LTD equity	Pharmaceuticals & Biotechnology	0.31%	Apr 2024	2.4 yrs	-0.12%
72	COHANCE LIFESCIENCES LTD equity	Pharmaceuticals & Biotechnology	0.31%	Apr 2024	2.4 yrs	-0.02%
73	INOX WIND LTD equity	Electrical Equipment	0.28%	Mar 2025	1.5 yrs	-0.15%
74	WHIRLPOOL OF INDIA LTD equity	Consumer Durables	0.25%	Sep 2024	2.0 yrs	-0.05%
75	CHAMBAL FERTILISER & CHEMICALS LTD equity	Fertilizers & Agrochemicals	0.25%	Apr 2024	2.4 yrs	-0.08%
76	TREPS / cash equivalents CASH / NET CURRENT ASSET · money market	—	0.07%	Jul 2026	2 mo	+0.09%
77	I) REPO money market	—	0.02%	Aug 2026	1 mo	+0.02%

Showing 1–77 of 77 rows per page10 25 50all

Largest sectors, Aug 2026 · grey: a year ago

Pharmaceuticals & Biotechnology22.8% · 18.1%

Automobiles20.0% · 20.2%

Petroleum Products10.8% · 11.3%

Industrial Products6.7% · 8.6%

Auto Components6.3% · 6.7%

Consumer Durables5.8% · 6.9%

Ferrous Metals5.7% · 5.3%

Aerospace & Defense5.0%

share of the book05%10%15%20%25%

By market cap, Aug 2026

Large cap49.6%

Mid cap30.5%

Small / micro cap18.8%

Cash & equivalents0.1%

Not classified1.0%

share of the book025%50%75%100%

"Not classified" is what no cap tier could be inferred for — newly listed names, or lines without an ISIN.

Composition by market cap, month by month — what the fund actually held against what its label says

Large cap 50%
Mid cap 31%
Small / micro 19%
Cash & other 0%

The seven checks, in full

each: the plain claim, where it sits in the category, and — folded — how it is measured and the case against. A flag fires only where headline and record disagree.

P4 Consistency, not a single end date

Not measurable yet. Needs at least three years of month-end NAV and a category median; not computed for this fund yet.

What this means. Take every three-year stretch since the fund had a NAV, one starting each month, and ask two things of each: did it beat the typical fund in its category, and by how much. Counting the wins tells you the record does not depend on when you happen to look; averaging the margin tells you whether winning often was worth anything, because four small wins do not pay for one large loss.

How it is measured, and the case against

A fund that beats its category in most rolling three-year windows has a record; one that beats it in a few has an end date. How often it won and by how much are different questions, and this card answers both, because a fund can win four windows in five and still be behind across all five.

How often has it beaten its category, across every window?

Why this might matterRolling every three-year window forward month by month gives hundreds of overlapping observations instead of one. A single end date decides a headline five-year figure; the share of windows won cannot be flattered by when you happen to look. The average margin across every window is that share and the payoff multiplied together — win share x average beat plus loss share x average shortfall is exactly the average — so a high share bought with a few ruinous windows cannot hide behind the count.

Why it might notRolling windows overlap heavily, so they are not independent observations and the true sample is far smaller than the count suggests — the card says how many non-overlapping windows the same span holds, and it is usually a handful. A fund that changed manager or mandate carries a record that is only partly its own. The average margin is only as meaningful as the category: where a category is a grab bag (“Other ETFs” holds gold beside equity), a large shortfall says the comparison is wrong, not that the fund is. And none of this forecasts: our own study found the share of windows won does not predict the next three years, and weighting it by payoff gives no reason to think otherwise.

P5 Cost, measured

Regular plan costs 0.69% a year more than Direct

₹14,128 on ₹1 lakh over ten years

What this means. The Regular and Direct plans hold the same portfolio; the Regular one pays a distributor out of your money every day. The gap between the two NAVs is that cost, measured from the NAVs rather than quoted from a document.

0.69 pp a year

costliest in categorycheapest in category

21th percentile · bottom quartile of 240 funds · category median 0.53 pp

on ₹1,00,000 over ten years₹14,128Direct vs Regular, annualised8.7% vs 8.0%measured over2.42 years

How it is measured, and the case against

The Direct plan is the same portfolio, priced differently; the divergence of the two NAVs is the cost, measured rather than quoted.

What does the Regular plan actually cost against its Direct twin?

Why this might matterSame manager, same holdings, same day. The gap between the two NAV series is the one number on this page that is knowable today rather than hoped for, and it compounds for as long as the units are held.

Why it might notA Regular plan buys advice. If that advice stops someone selling in a drawdown it can be worth more than the fee — the cost is visible and the behavioural saving is not, which makes this comparison unfair in exactly one direction.

P1 Churn, and what it bought

Turns over 52% of the portfolio a year

+0.02 pts of excess return per unit of turnover

What this means. How much of the portfolio was bought and sold in a year, computed from what the fund disclosed each month. Trading costs something certain; the extra return it is meant to buy is not.

52% a year

costliest in categorycheapest in category

40th percentile · below median of 151 funds · category median 47%

excess return per unit of turnover+0.02 pts

How it is measured, and the case against

Turnover measured from consecutive disclosures — Σ|Δweight|/2 — costs something certain; the excess return it is meant to buy is not.

Is the trading paying for itself?

Why this might matterAMCs define their own turnover figure inconsistently. This one is computed from what the fund disclosed month to month, so two funds are comparable on it. Read it beside the excess return per unit of turnover.

Why it might notTurnover computed from month-end snapshots misses everything bought and sold inside a month, and a fund forced to sell by redemptions is charged for churn it did not choose.

P2 Conviction or inertia

Typical top-10 holding kept 29 months

What this means. How long a typical top-10 position has been in the top ten. Long-held positions are a decision; a top ten that changes every quarter is a reaction.

29 months

lowest in categoryhighest in category

62th percentile · above median of 151 funds · category median 24 months

active sharenot yet computable — needs index constituent files

How it is measured, and the case against

The median months a top-10 position has been held separates a portfolio somebody chose from one that drifted.

How long does a top-10 position stay a top-10 position?

Why this might matterConcentration is how a manager expresses conviction, and persistence is how long they keep it. Long-held positions with a rising weight are a decision; a top ten that turns over every quarter is a reaction.

Why it might notPersistence without active share is inertia: a portfolio of 166 names that tracks its category closely has diversified away the reason to pay for it. Active share needs index constituent files, which are not loaded yet.

P3 Hit rate of the top ten

6 of 10 top picks beat their peers over the next 6 months, and averaged 4.9 points ahead of them

230 positions judged, one disclosure at a time · ahead by 16.1 points when it won, behind by 12.7 when it lost

What this means. Take each month's ten largest holdings and check whether each one beat the typical stock its category holds over the next six months, and by how much. A blended return can hide two wins and eight losses; a count of wins can hide one position that lost half its value.

How often, and by how much. The count and the average agree. Ahead by 16.1 points in the 141 positions it won and behind by 12.7 in the 89 it lost, so the average across all 230 is +4.9 points. The worst position was INE155A01022 at the May 2025 disclosure, 46.0 points behind.

61%

lowest in categoryhighest in category

80th percentile · top quartile of 150 funds

positions judged230beat the median stock141average across every position+4.94 pts · median +4.87when ahead, by how much+16.06 pts over 141 positionswhen behind, by how much−12.67 pts over 89 positionsworst position−46.05 pts, INE155A01022 at the May 2025 disclosurebest position+49.92 pts, INE038A01020 at the Jul 2025 disclosure

How it is measured, and the case against

A manager's largest bets, judged one by one over the following six months, say more than the fund's blended return — and how far each one beat or missed the median stock says more than counting how many did.

Of its top-10 positions, how often did they beat the category-median stock?

Why this might matterA fund can beat its category on two positions and lose on eight; the hit rate shows the pattern the aggregate hides. The average margin then shows what the hit rate hides in turn: six winners worth a point each do not pay for four losers worth ten, and only the margin says which happened.

Why it might notSix months is short, sizing matters more than counting, and a manager who is right on the biggest position and wrong on nine small ones has done their job — the margins here are unweighted, so they answer the counting question better, not the sizing one. Overlapping disclosures judge the same position again each month it is held, so one long-held winner is counted many times. And this is a description of six months already past, not a forecast of the next six.

P6 Size against edge

₹132 Cr, 39th percentile in category; 89% of growth came from inflows

smaller than 61% of the funds in its category (151 funds) · AUM Jun 2024 → Jul 2026 · Regular plan expense ratio 1.11%

What this means. Where the fund sits by size in its category, and how much of its growth was money arriving rather than the portfolio compounding. A very large fund cannot buy what a small one can; size should buy a lower fee in return.

39th percentile by AUM

largestsmallest

61th percentile · above median of 151 funds

median holding weight, trendflatexpense ratio, Regular / Direct1.11% / 0.56% · category median 0.90%AUM, Jun 2024 → Jul 2026₹64 Cr → ₹132 Cr (+42% a year)of that change, from flows rather than returns89% net inflows · NAV +12% over the window

Assets under management, ₹ crore, Jun 2024 – Jul 2026

13 points · months without a factsheet figure use AMFI's quarterly average · Regular-plan expense ratio 1.09% in Apr 2024 → 1.11% in Sep 2026

How it is measured, and the case against

Past a certain size the smaller end of a mandate becomes unreachable, and the fund starts to look like its index; what size should buy in return is a lower expense ratio.

Has the fund outgrown the universe it invests in — and did size buy a lower fee?

Why this might matterSize narrows what the manager can meaningfully hold and should lower what the investor pays. Read the AUM history beside the expense ratio: a fund that has tripled through inflows while its Regular-plan TER sits above the category median has kept the benefit of scale for the house. The flow decomposition says how much of the growth was money arriving rather than the portfolio compounding.

Why it might notScale funds research teams, and plenty of large funds have gone on compounding for decades. Inflows follow performance, so a fund growing fast is usually one that did well; the constraint is real but not automatically binding, and a TER is a ceiling the AMC can cut at any time.

P7 Whose record is this headline and record disagree

Run by Rakesh Indrajeet Prajapati for at least 1.5 yrs

with Nitin Bharat Sharma · the factsheet archive starts Feb 2025, so this is a floor

What this means. How long the people running it now have been running it, read from the monthly factsheets. A five-year record earned under someone else is not evidence about these managers.

No category distribution for this measure yet.

running it nowRakesh Indrajeet Prajapati (since at least Feb 2025), Nitin Bharat Sharma (since Nov 2025)share of the fund's life under the current teamnot knowable — the archive starts Feb 2025, so the tenure is a floorchanges of hands in the archive2 — last Nov 2025

Who ran it, month by month · factsheets through Sep 2026

running it nowearlier

Manager	Role	From	To	Fund vs category, those months	3-yr stretches won in tenure
Rakesh Indrajeet Prajapati	fund manager	by Feb 2025†	now	12.7% vs 3.9% p.a. (+8.78 pp)	—
Nitin Bharat Sharma	fund manager	Nov 2025*	now	5.0% vs −1.4% (+6.43 pp)	—
Kapil Menon	fund manager	by Feb 2025†	May 2025	5.2% vs 3.5% (+1.63 pp)	—

* dated by first appearance in the archive we hold, not by a date the factsheet printed. † already named on the first factsheet we hold: the stint is at least this long, and its start is not known. Co-managed months count for every manager named; a factsheet names the manager of record, not who made each call. All managers →

The 5-year figure covers most of the fund's entire life. This scheme is about 2.5 years old and a 5-year return is being displayed for it. That is effectively a since-inception number — it measures the period the fund happened to be launched into, and separates nothing from the manager's contribution.

How it is measured, and the case against

A record earned under different people is not evidence about these ones.

Does the displayed record predate the people running it?

Why this might matterA five-year figure on a fund whose longest-serving manager joined two years ago is the house's record more than the person's. The tenure here comes from what each monthly factsheet named, so a change of hands is dated to the month it was disclosed, and the fund's return against its category can be read over exactly those months.

Why it might notEvery fund is young once, and a short record is not a bad one. This says the number cannot bear the weight usually placed on it, not that the fund is worse than a peer.

Tracking gap

the NAV the fund published, against the NAV its last disclosed portfolio would have produced at each day's prices

NAV replicates within 0.2 bp of its disclosed portfolio

What this means. Each day, the NAV the fund published against the NAV its last disclosed portfolio would have produced at that day's prices. A gap that opens and stays is a change the fund has made and not disclosed yet.

Latest gap beyond expense accrual

−0.2 bp

expense accrual ≈ 0.079 bp a day

Jumps since the disclosure

0clean

17 Jul 2026 +9.1 bp · 3 Jul 2026 +7.8 bp · 14 Aug 2026 +5.9 bp

Window

60 days

25 Jun 2026 – 18 Sep 2026

Read it this way: daily residuals within ±2 bp are trading noise and the expense ratio accruing. A jump that stays is a portfolio change the fund has not disclosed yet — the size bounds how material. A gap that opens then closes is usually a dividend going ex-date.

Share classes

latest NAV per AMFI code

Plan	Option	NAV	Date
direct Tata Nifty500 Multicap India Manufacturing 50 30 20 Index Fund -Direct Plan-Growth	growth	₹12.28	21 Sep 2026
direct Tata Nifty500 Multicap India Manufacturing 50 30 20 Index Fund -Direct Plan-IDCW-Payout	idcw	₹12.28	21 Sep 2026
direct Tata Nifty500 Multicap India Manufacturing 50 30 20 Index Fund -Direct Plan-IDCW-Reinvestment	idcw	₹12.28	21 Sep 2026
regular Tata Nifty500 Multicap India Manufacturing 50 30 20 Index Fund -Regular Plan-Growth	growth	₹12.09	21 Sep 2026
regular Tata Nifty500 Multicap India Manufacturing 50 30 20 Index Fund -Regular Plan-IDCW Payout	idcw	₹12.09	21 Sep 2026
regular Tata Nifty500 Multicap India Manufacturing 50 30 20 Index Fund -Regular Plan -IDCW-Reinvestment	idcw	₹12.09	21 Sep 2026

The Direct / Regular gap, in rupees

Direct growth NAV: ₹12.28
Regular growth NAV: ₹12.09
NAV divergence to date: 1.6% — same portfolio, priced differently
Regular costs more by: 0.69% a year
On ₹1,00,000 over ten years: ₹14,128

A Regular plan buys advice. The fee is visible and the behavioural saving is not; both are shown, neither is netted off.

Compare with

same category, by size

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