UTI MNC Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 10, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
UTI MNC Fund Direct Growth Plan has a NAV of ₹448.1668 as of 09 Sep 2026 and scheme AUM of ₹2,790 Cr. Its 1-year, 3-year and 5-year returns are -0.19%, 8.9% and 8.24%, and it sits in the High Risk category.
Our view is that this is a stock-picking equity fund with a clear tilt toward established multinational and multinational-linked businesses. The longer-term return profile is steadier than the latest 1-year figure, but the benchmark comparison shows the fund has been ahead over 3 years and 5 years while remaining sensitive enough to fit only investors who can handle meaningful volatility.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹448.1668 as of 09 Sep 2026 |
| AUM | ₹2,790 Cr |
| Expense Ratio | 1.25% |
| Launch Date | 01 Jan 2013 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | 1% on or before 1Y, Nil after 1Y |
| Fund Managers | Karthikraj Lakshmanan |
The fund is managed by Karthikraj Lakshmanan.
Source data date: as of 09 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -2.96% | -4.69% |
| 3M | 4.43% | 0.93% |
| 1Y | -0.19% | -7.16% |
| 3Y | 8.9% | 6% |
| 5Y | 8.24% | 5.87% |
Short-term performance has been uneven, but not weak relative to the market backdrop. The fund fell 2.96% over one month, yet that still compared better than the benchmark’s 4.69% decline. Over three months, it recovered faster than the benchmark, which tells us the portfolio has some resilience when conditions improve.
The one-year figure is the most important near-term caution flag. At -0.19%, the fund has not protected capital over that horizon, but it still did better than the benchmark’s -7.16%. That gap matters because it shows relative defense even when absolute returns are negative. It also suggests the fund’s latest stretch was less damaging than the broader market.
The longer view is more constructive. Three-year and five-year returns of 8.9% and 8.24% stay ahead of the benchmark’s 6% and 5.87%. The pattern we see is one of moderate long-run compounding with a softer recent patch, rather than a sharp break in behaviour.
Our read is that the fund has been able to hold its edge over the benchmark across longer windows, but it has not done so in a smooth line. That matters for investors who want consistency: the return path has enough fluctuation to require patience.
Source data date: as of 09 Sep 2026
Should you BUY or HOLD UTI MNC?
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 UTI MNC? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| UTI MNC Fund Direct Growth Plan | 1.01% | Data not available | Data not available |
| ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan | 71.49% | 36.55% | Data not available |
| Motilal Oswal Active Momentum Fund Direct Growth Plan | 30.08% | Data not available | Data not available |
| Kotak Healthcare Fund Direct Growth Plan | 28.85% | Data not available | Data not available |
| HDFC Pharma and Healthcare Fund Direct Growth Plan | 28.6% | Data not available | Data not available |
| PGIM India Healthcare Fund Direct Growth Plan | 27.47% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
The current fund’s 1-year figure is far below the strongest peer figures in this set, but the peer list also includes several specialised themes with much sharper short-term moves. On the available longer-term numbers, the current fund’s 3-year performance is not directly comparable because the peer rows mostly do not show that horizon, while the one peer with a 3-year figure is far ahead on that specific period. That means the short-term peer comparison and the longer-term interpretation tell different stories.
For investors, the fund’s own 1-year result is modest, yet the longer-term return pattern is steadier and more competitive than the latest stretch suggests. We think that makes the fund better understood as a patient equity holding than a near-term return play. Its portfolio also leans toward established businesses, which may help explain why the ride is less erratic than some more thematic peers, even though the risk label remains High Risk.
Source data date: as of 09 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Eq – Maruti Suzuki India Ltd. | Automobile & Ancillaries | 7.64% |
| Eq – Nestle India Ltd. | FMCG | 5.79% |
| Eq – Bosch Ltd. | Automobile & Ancillaries | 5.73% |
| Eq – Hindustan Unilever Ltd | FMCG | 4.65% |
| Eq – Proctor & Gamble Health Ltd | Healthcare | 3.93% |
| Eq – Gland Pharma Ltd. | Healthcare | 3.83% |
| Net Current Assets | Cash & Cash Equivalents and Net Assets | 3.11% |
| Eq – Vedanta Aluminium Metal Ltd. | Non – Ferrous Metals | 2.89% |
| Eq – Hyundai Motor India Ltd | Automobile & Ancillaries | 2.84% |
| Eq – Coforge Ltd | IT | 2.67% |
The top 10 holdings account for approximately 43.08% of the portfolio.
To see all holdings, visit the UTI MNC Fund Direct Growth Plan page
The largest holding, Maruti Suzuki India Ltd., stands at 7.64%, so it is meaningful but not dominant on its own. The next few positions remain fairly close in size, which suggests that influence is spread across several core names rather than being concentrated in one single holding.
Weight then eases down to 2.67% by the tenth holding, so the gap from the largest to the tenth is noticeable but not extreme. That pattern points to a portfolio where several individual businesses may contribute to performance, with no single holding appearing overwhelmingly large.
With 43.08% of the portfolio in the top 10 and 55 holdings disclosed in total, the fund may have a longer tail beneath the headline names. That can reduce dependence on any one position, but the top end is still important enough that stock selection is likely to have greater influence on outcomes than a broad-market index fund would.
Source data date: as of 09 Sep 2026
Who should invest
This fund suits investors who are comfortable with High Risk equity exposure and can stay invested for several years. The 3-year and 5-year numbers suggest the strategy has worked better over longer stretches than over the latest 1-year window, so a short holding period would not suit the return pattern.
The main trade-off is between steadier long-term participation and the possibility of weak or uneven short-term results. The benchmark comparison shows the fund has held up better than the Nifty 50 over the longer windows available here, while the portfolio mix leans toward established consumer, auto and healthcare names rather than a broad market basket. That may appeal to investors who want a differentiated equity style, but they must be able to tolerate periods when returns look muted.
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% on or before 1Y, Nil after 1Y.
Source data date: as of 09 Sep 2026
Frequently asked questions
What is the current NAV of UTI MNC Fund Direct Growth Plan?
The current NAV is ₹448.1668 as of 09 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year, 3-year and 5-year returns are -0.19%, 8.9% and 8.24%.
How does the fund compare with its benchmark?
It has been ahead of the Nifty 50 over the 3-year and 5-year periods, with 8.9% versus 6% and 8.24% versus 5.87%. Over 1 year, it still did better than the benchmark despite a negative return.
What is the risk category of this fund?
The fund is in the High Risk category. That fits a portfolio that can move around in the short run but has shown better longer-term results.
Who manages UTI MNC Fund Direct Growth Plan?
The fund is managed by Karthikraj Lakshmanan.
What does the portfolio look like at the top end?
The biggest holding is Maruti Suzuki India Ltd. at 7.64%, and the top 10 holdings together account for approximately 43.08% of the portfolio. That indicates meaningful concentration at the top, even though the fund discloses 55 holdings in total.
Bottom line
UTI MNC Fund Direct Growth Plan has a mixed recent record but a more reassuring longer-term pattern. It has stayed ahead of the benchmark over 3 years and 5 years, while the latest 1-year result is weaker in absolute terms. The fund’s High Risk label, concentrated top holdings and tilt toward established multinational-style businesses make it more suitable for patient investors who can handle uneven stretches and are looking for differentiated equity exposure rather than a smooth ride.
Published on 10 September 2026 at 4:17 PM 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.