JM Value Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 10, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
JM Value Fund Direct Growth Plan has a NAV of ₹110.331 as of 09 Sep 2026 and manages ₹817 Cr. Its 1-year, 3-year and 5-year returns are 1.1%, 11.98% and 15.17%, and the fund sits in the High Risk category.
Our view is that this is a value-oriented equity fund that has delivered a stronger long-term path than its recent one-year showing suggests. The portfolio is fairly diversified across 62 holdings, but the top positions still matter, so the ride can be uneven even when longer-term compounding holds up better than the latest year.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹110.331 as of 09 Sep 2026 |
| AUM | ₹817 Cr |
| Expense Ratio | 0.98% |
| Launch Date | 01 Jan 2013 |
| Min SIP | ₹1,000 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | 1% on or before 30D, Nil after 30D |
| Fund Managers | Satish Ramanathan, Asit Bhandarkar, Deepak Gupta., Ruchi Fozdar |
The fund is managed by Satish Ramanathan, Asit Bhandarkar, Deepak Gupta. and Ruchi Fozdar.
Source data date: as of 09 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.32% | -4.69% |
| 3M | 8.68% | 0.93% |
| 1Y | 1.1% | -7.16% |
| 3Y | 11.98% | 6% |
| 5Y | 15.17% | 5.87% |
The latest quarter has been firmer than the one-year figure suggests, and the fund has also stayed ahead of the benchmark over 1M, 3M and 1Y. That matters because the benchmark has been weak over 1Y, so the fund’s positive reading still reflects relative resilience even though absolute one-year compounding is modest.
The longer view is more constructive. The 3-year return is clearly ahead of the benchmark, and the 5-year result stays well above it too, which points to better compounding over full market cycles than the index has offered in this period. That said, the 1-year return is far lower than the 3-year and 5-year numbers, so recent behaviour has not matched the steadier longer-term trend.
The pattern in the return path suggests a fund that can participate meaningfully when its style works, but may also go through stretches where progress is flatter. For investors, the key distinction is between the improved longer-run result and the still-muted latest year. We think that makes it more relevant for those who can tolerate uneven phases rather than those who want a smooth year-to-year return profile.
Source data date: as of 09 Sep 2026
Should you BUY or HOLD JM Value?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding JM Value? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| JM Value Fund Direct Growth Plan | 1.1% | 11.98% | 15.17% |
| Quant Value Fund Direct Growth Plan | 22.09% | 20.52% | Data not available |
| LIC MF Value Fund Direct Growth Plan | 22.04% | 17.1% | 14.06% |
| Aditya Birla SL Value Fund Direct Growth Plan | 16.16% | 14.7% | 15% |
| Mahindra Manulife Value Fund Direct Growth Plan | 13.96% | Data not available | Data not available |
| Axis Value Fund Direct Growth Plan | 10.68% | 18.03% | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On the latest one-year number, the fund trails the strongest peer readings in this group, while still holding up positively over the benchmark. The stronger point is the longer horizon: the 3-year and 5-year returns remain competitive against peers with available data, especially versus funds where the 5-year record is lower or unavailable. That gives the comparison a split message: the recent year is softer than several peers, but the longer-term picture is not weak.
Source data date: as of 09 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Redington Limited | Trading | 4.36% |
| ICICI Bank Limited | Bank | 4.09% |
| Shriram Finance Limited | Finance | 4.07% |
| Larsen & Toubro Limited | Infrastructure | 3.46% |
| Infosys Limited | IT | 3.12% |
| Tata Motors Limited | Domestic Equities | 2.72% |
| Jana Small Finance Bank Ltd | Bank | 2.7% |
| Tech Mahindra Limited | IT | 2.69% |
| Bharti Airtel Limited | Telecom | 2.66% |
| Godfrey Phillips India Limited | FMCG | 2.38% |
The top 10 holdings account for approximately 32.25% of the portfolio.
To see all holdings, visit the JM Value Fund Direct Growth Plan page
The largest holding, Redington Limited, stands at 4.36%, which is large enough to matter but not so large that it dominates the fund on its own. The drop from the first holding to the tenth is also fairly measured, from 4.36% down to 2.38%, which suggests the core book is spread across several positions rather than concentrated in just one or two names.
That said, the top 10 still represent about 32.25% of the portfolio, and the fund has 62 disclosed holdings in total. Our view is that this points to a blend of concentration at the top and a longer tail beneath it, so individual stock selection may contribute meaningfully without the portfolio becoming narrowly dependent on a single bet.
Source data date: as of 09 Sep 2026
Who should invest
This fund is better suited to investors who are comfortable with High Risk equity exposure and who can stay invested for a multi-year horizon. The return pattern shows that the latest year has been much softer than the 3-year and 5-year figures, so patience matters here more than a quick outcome.
Against the benchmark, the fund has held up well over the medium and long term, and the peer comparison shows that its recent year is weaker than several alternatives even though the longer track remains competitive. The main trade-off is accepting uneven shorter-term performance in exchange for the possibility of stronger compounding over longer holding periods.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load: 1% if units are sold on or before 30 days; no exit load after the holding period.
Source data date: as of 09 Sep 2026
Frequently asked questions
What is the current NAV of JM Value Fund Direct Growth Plan?
The current NAV is ₹110.331 as of 09 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 1.1% for 1 year, 11.98% for 3 years and 15.17% for 5 years.
How has the fund performed against the benchmark?
It has outpaced the benchmark over 1M, 3M, 1Y, 3Y and 5Y. The gap is especially clear over 3 years and 5 years.
How does it compare with peer funds on returns?
Its 1-year return is below several peers in this set, but its 3-year and 5-year figures remain competitive among peers with available data. The short-term and longer-term comparisons tell different stories.
What is the minimum SIP amount?
The minimum SIP amount is ₹1,000.
Who manages the fund and what is the exit load?
The fund is managed by Satish Ramanathan, Asit Bhandarkar, Deepak Gupta. and Ruchi Fozdar. The exit load is 1% if units are sold on or before 30 days, and there is no exit load after the holding period.
Bottom line
JM Value Fund Direct Growth Plan has a weaker recent one-year showing than its 3-year and 5-year record, so the near-term picture is less impressive than the longer-term one. Against the benchmark, the fund has stayed ahead across the periods shown, and in peer terms its shorter-term result is not as strong as some alternatives while the longer-term numbers remain workable. The High Risk profile and the 62-holding portfolio point to a fund that may suit investors who can handle uneven swings and focus on a longer investment horizon.
Published on 10 September 2026 at 11:07 AM IST
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RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.