UTI Multi Asset Allocation Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 10, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
UTI Multi Asset Allocation Fund Direct Growth Plan has a current NAV of ₹88.0059 as of 09 Sep 2026 and a scheme AUM of ₹7,062 Cr. Its 1-year, 3-year and 5-year returns are 5.25%, 15.28% and 13.34%, and the scheme sits in the High Risk category. Our view is that it has offered steadier long-term compounding than the recent one-year number suggests, but the portfolio mix and risk profile still make it more suitable for investors who can tolerate meaningful swings.
The fund is built as a hybrid multi-asset strategy rather than a plain equity-only allocation, and that usually means the return pattern can differ from the benchmark in both calmer and sharper markets. The numbers point to a fund that may fit a long-horizon investor who wants diversification across assets and is comfortable with uneven short-term moves.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹88.0059 as of 09 Sep 2026 |
| AUM | ₹7,062 Cr |
| Expense Ratio | 0.58% |
| Launch Date | 01 Jan 2013 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Hybrid |
| Exit Load | 1% on or before 30D, Nil after 30D |
| Fund Managers | Sharwan Kumar Goyal, Jaydeep Bhowal, Lokesh Kulthia |
The fund is managed by Sharwan Kumar Goyal, Jaydeep Bhowal and Lokesh Kulthia.
Source data date: as of 09 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -2.67% | -4.69% |
| 3M | 2.64% | 0.93% |
| 1Y | 5.25% | -7.16% |
| 3Y | 15.28% | 6% |
| 5Y | 13.34% | 5.87% |
The recent picture is mixed rather than one-directional. Over one month, the fund was negative, but the fall was less severe than the benchmark. Over three months, it recovered better than the benchmark, which tells us the scheme has still been able to participate in a short-term rebound.
The one-year number is more important for context because it separates the fund from the benchmark in a meaningful way. The fund stayed positive over 1 year while the benchmark was negative, which suggests the scheme has been more resilient over the latest full-year window. That is useful for an investor who is trying to reduce dependence on one asset class alone.
The longer horizon is stronger still. The 3-year and 5-year returns both sit well above the benchmark, which supports the view that the strategy has compounded better over time. At the same time, the recent one-month dip reminds us that the path has not been smooth, so the fund has still behaved like a higher-volatility hybrid product rather than a low-fluctuation defensive allocation.
Our reading is that the short-term and long-term stories are different, but not contradictory. The fund has handled the longer cycle better than the benchmark, yet it has also shown enough near-term weakness to justify patience. For investors, that usually means judging the scheme on a multi-year horizon rather than on the latest month alone.
Source data date: as of 09 Sep 2026
Should you BUY or HOLD UTI Multi Asset Allocation?
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 Multi Asset Allocation? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| UTI Multi Asset Allocation Fund Direct Growth Plan | 5.25% | 15.28% | 13.34% |
| 360 ONE Multi Asset Allocation Fund Direct Growth Plan | 20.37% | Data not available | Data not available |
| Quant Multi Asset Allocation Fund Direct Growth Plan | 18.36% | 21.65% | 19.99% |
| Kotak Multi Asset Allocation Fund Direct Growth Plan | 17.42% | Data not available | Data not available |
| Mahindra Manulife Multi Asset Allocation Fund Direct Growth Plan | 15.34% | Data not available | Data not available |
| DSP Multi Asset Allocation Fund Direct Growth Plan | 15.31% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
The fund’s 1-year return is much lower than the strongest peer figures in the list, although it still remains ahead of the benchmark’s 1-year decline. That tells us the latest stretch has been less striking than several competing schemes, even if it has still protected capital better than the index.
The longer-term picture is more balanced. Among peers with available 3-year and 5-year data, the fund’s 3-year return is strong, but its 5-year return trails the best peer figures shown here. So the table suggests a fund that has held up well over a medium horizon, while the most aggressive long-term peer numbers remain higher. That difference matters because it shows the fund is competitive on consistency, but not the standout on every horizon.
Source data date: as of 09 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| MF Units Uti MF- Gold Exchange Traded Fund ETF | Domestic Mutual Funds Units – Gold | 13.43% |
| Net Current Assets | Cash & Cash Equivalents and Net Assets | 4.39% |
| Eq – ICICI Bank Ltd | Bank | 3.33% |
| Eq – Kotak Mahindra Bank Ltd. | Bank | 2.97% |
| Eq – Nestle India Ltd. | FMCG | 2.73% |
| Eq – Tata Consultancy Services Ltd. | IT | 2.6% |
| Eq – HDFC Bank Limited | Bank | 2.5% |
| Eq – ITC Ltd. | FMCG | 2.36% |
| Eq – Bharat Electronics Ltd. | Capital Goods | 1.83% |
| Eq – Infosys Ltd. | IT | 1.75% |
The top 10 holdings account for approximately 37.89% of the portfolio.
To see all holdings, visit the UTI Multi Asset Allocation Fund Direct Growth Plan page
The largest disclosed holding is the UTI gold ETF unit at 13.43%, which is materially larger than any individual equity line in the list. After that, the weights step down fairly quickly into the 4% to 2% range, so the portfolio is not relying on a single security in the way a concentrated equity fund might.
That said, the first ten holdings together make up 37.89% of the portfolio, and the disclosed holding list extends to 59 rows. Our view is that this points to a diversified structure with a meaningful long tail, but one where the top positions can still have noticeable influence on the overall return pattern. The presence of gold, cash and large-cap equity names also suggests the scheme may behave differently from a pure equity portfolio in some market phases.
Source data date: as of 09 Sep 2026
Who should invest
This fund suits investors who are comfortable with High Risk and can stay invested for multiple years. The 1-year return has been modest compared with several peer schemes, but the 3-year and 5-year figures show stronger compounding, which means the fund looks more appropriate for investors who can absorb short-term variability.
It may appeal to someone who wants a hybrid allocation with a gold sleeve and a sizeable set of equity holdings rather than a one-dimensional market bet. The benchmark comparison also matters: the fund has stayed ahead of the index over 1, 3 and 5 years, so the trade-off is accepting uneven short-term moves in exchange for a portfolio that has historically handled longer cycles better than the benchmark.
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 30D, Nil after 30D.
Source data date: as of 09 Sep 2026
Frequently asked questions
What is the current NAV of UTI Multi Asset Allocation Fund Direct Growth Plan?
The current NAV is ₹88.0059 as of 09 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 5.25% over 1 year, 15.28% over 3 years and 13.34% over 5 years.
How does it compare with the benchmark?
It has outpaced the NIFTY 50 over 1 year, 3 years and 5 years. The benchmark figures are -7.16%, 6% and 5.87% for those periods.
How does it compare with the peer funds listed here?
Its 1-year return trails several peers in the list, while its 3-year return is strong among the peers with available longer-horizon figures. Its 5-year return is also respectable, though some peers show higher long-term numbers where those figures are available.
What is the minimum SIP amount?
The minimum SIP amount is ₹500.
Who manages the fund and what is the exit load?
The fund is managed by Sharwan Kumar Goyal, Jaydeep Bhowal and Lokesh Kulthia. The exit load is 1% on or before 30 days and nil after 30 days.
Bottom line
UTI Multi Asset Allocation Fund Direct Growth Plan looks like a scheme whose longer-term record is stronger than its latest one-year showing. It has also stayed ahead of the benchmark across 1-, 3- and 5-year periods, which supports its case as a diversified hybrid option for patient investors.
The portfolio is led by a gold ETF position and then spreads into equity and cash-linked holdings, so the fund may behave differently from a plain equity scheme. For investors who can tolerate High Risk and want a multi-asset allocation with a multi-year horizon, the trade-off is accepting occasional short-term softness in exchange for a more balanced long-run profile.
Published on 10 September 2026 at 4:54 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.