When it comes to multicap funds — schemes that allow fund managers to invest freely across large-cap, mid-cap, and small-cap stocks — a few names have quietly built a reputation for long-term consistency. Year after year, across different market cycles, three funds keep showing up at the top of the charts: Nippon India Multi Cap Fund, Quant Multi Cap Fund and ICICI Prudential Multicap Fund.
What makes this trio stand out is not one good phase, but solid performance across 5-, 10-, 15- and even 20-year timeframes. The order changed depending on the period, but these three multicap funds always remained in the top cluster.
Multicap funds: 5-, 10-, 15- and 20-year performance comparison
| Timeframe | 1st | 2nd | 3rd | 4th |
| 5-Year Returns | Nippon India Multi Cap – 27.23% | ICICI Prudential Multicap – 21.47% | Quant Multi Cap – 20.95% | Mahindra Manulife Multi Cap – 23.07% (fits in top 4 though not part of core 3) |
| 10-Year Returns | Quant Multi Cap – 16.88% | Nippon India Multi Cap – 15.15% | ICICI Prudential Multicap – 14.70% | — |
| 15-Year Returns | Invesco India Multicap – 15.38% | Nippon India Multi Cap – 15.00% | Quant Multi Cap – 14.57% | ICICI Prudential Multicap – 13.60% |
| 20-Year Returns | Nippon India Multi Cap – 16.87% | Quant Multi Cap – 14.90% | ICICI Prudential Multicap – 14.81% | — |
(Data source: Value Research)
On the 5-year chart, all three funds have delivered impressive returns and appear among the top four performers. Nippon India leads with 27.23%, followed by ICICI Prudential at 21.47%, and Quant close behind at 20.95%.
As we move to longer timeframes, their strength becomes even clearer.
Over 10 years, the trio occupies the top three spots: Quant at 16.88%, Nippon India at 15.15%, and ICICI Prudential at 14.70%.
Even in the 20-year performance table, the same pattern continues. Nippon India tops with 16.87%, while Quant (14.90%) and ICICI Prudential (14.81%) follow closely.
On the 15-year chart, Invesco India Multicap takes the top rank, but all three of our core funds still appear within the top four — reinforcing how consistently they’ve delivered through different phases of the market.
Why investors trust these funds
Part of the reason behind their long-term success is the flexibility that multicap funds enjoy. Since they can invest in all segments of the market, fund managers can move between large caps for stability, mid caps for growth and small caps for higher return potential. But strategy alone doesn’t explain their consistency—experience and disciplined fund management also play a big role.
More details about top 3 multicap funds
Nippon India Multi Cap Fund
Launched in 2005, the fund has built a strong reputation with 17.94% returns since inception. It manages a large AUM of Rs 49,314 crore and follows the Nifty 500 Multicap 50:25:25 TRI benchmark. Its expense ratio is 1.49%.
Quant Multi Cap Fund
This fund, launched in 2001, has an even higher since-launch return of 18.19%. Known for its dynamic style, it manages Rs 9,323 crore in assets and charges an expense ratio of 1.76%.
ICICI Prudential Multicap Fund
One of the oldest in the category (launched in 1994), the fund has delivered 15.10% since inception. With Rs 16,067 crore under management, it follows a balanced multicap approach with an expense ratio of 1.73%.
Summing up…
Whether you look at 5 years or 20 years, Nippon India, Quant and ICICI Prudential Multicap keep showing up among the top-performing funds. Their long-term track records, steady performance across cycles and experienced management make them three of the most reliable multicap options for investors aiming for long-term wealth creation.
Investors must note that these are past performances of these multicap funds. Mutual fund returns can vary depending on market conditions, and there is no guarantee that future returns will match or exceed historical trends. Investors should consider their own risk appetite, financial goals and time horizon before investing.
Disclaimer: The above content is for informational purposes only. Mutual Fund investments are subject to market risks. Please consult your financial advisor before investing.