Baroda BNP Paribas Manufacturing Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 11, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Baroda BNP Paribas Manufacturing Fund Direct Growth Plan has an NAV of ₹11.3763 as of 10 Sep 2026 and an AUM of ₹850 Cr. Its 1-year, 3-year and 5-year returns are 13.64%, 0% and 0%, and the fund sits in the High Risk category. Our view is that it suits investors who can tolerate sharp swings and want a focused manufacturing theme, but the short track record means the case rests more on portfolio construction and near-term behaviour than on a long history of compounding.
For now, the fund has shown positive 1-year results, but the longer record is not yet available in a way that supports a deep cycle test. That makes it better suited to investors who are comfortable pairing a thematic allocation with a longer holding period and who can accept that returns may move differently from the broader market.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹11.3763 as of 10 Sep 2026 |
| AUM | ₹850 Cr |
| Expense Ratio | 0.86% |
| Launch Date | 28 Jun 2024 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | Nil upto 10% of units and 1% for remaining units on or before 1Y, Nil after 1Y |
| Fund Managers | Kushant Arora, Himanshu Singh |
The fund is managed by Kushant Arora and Himanshu Singh.
Source data date: as of 10 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.12% | -4.06% |
| 3M | 6.86% | 1.37% |
| 1Y | 13.64% | -7.31% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The recent pattern is mixed but not weak. Over 1 month, the fund fell less than the benchmark, which suggests some relative resilience in a soft patch. Over 3 months, it recovered more strongly than the benchmark, and that gap matters because it shows the fund has been able to participate in a rebound more effectively than the broad market reference.
The 1-year figure is the clearest evidence in favour of the fund so far. It has delivered a positive double-digit return while the benchmark is still negative over the same period, so the fund has clearly outpaced the index on this horizon. That said, the fund’s short history means the 3-year and 5-year view is not yet available, so we do not have a full cycle to judge consistency.
The pattern therefore looks more like an emerging thematic outcome than a mature long-term record. The fund has had enough time to show that it can beat the benchmark in a rising stretch, but not enough time to establish how it behaves through a longer market cycle. For investors, that usually means the recent numbers are useful, but they should be read with caution.
One important point is that the short-term trend has been stronger than the benchmark while the fund still remains young. That can be attractive for theme-focused investors, but it also means the story is still being written and future swings may be material.
Source data date: as of 10 Sep 2026
Should you BUY or HOLD Baroda BNP Paribas Manufacturing?
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 Baroda BNP Paribas Manufacturing? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Baroda BNP Paribas Manufacturing Fund Direct Growth Plan | 13.64% | Data not available | Data not available |
| ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan | 73.94% | 37.12% | Data not available |
| Motilal Oswal Active Momentum Fund Direct Growth Plan | 29.94% | Data not available | Data not available |
| Kotak Healthcare Fund Direct Growth Plan | 29.26% | Data not available | Data not available |
| HDFC Pharma and Healthcare Fund Direct Growth Plan | 28.3% | Data not available | Data not available |
| SBI Automotive Opportunities Fund Direct Growth Plan | 27.13% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the available 1-year figure, the fund trails the stronger recent peer names by a wide margin, even though it still has a positive result. The gap is even more visible because several peers have materially higher 1-year gains, while this fund has yet to build a long 3-year or 5-year record that can balance the comparison.
The short-term picture and the longer-term comparison do not tell the same story. In the near term, the fund has held up better than the benchmark; against peers, however, its 1-year return is modest. That means the fund’s main appeal is not relative momentum versus the peer set, but exposure to a manufacturing theme with an early but incomplete performance history.
Source data date: as of 10 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Divi’S Laboratories Limited | Healthcare | 7.68% |
| Hitachi Energy India Limited | Capital Goods | 5.96% |
| Bharat Heavy Electricals Limited | Capital Goods | 5.62% |
| Reliance Industries Limited | Crude Oil | 5.17% |
| Sun Pharmaceutical Industries Limited | Healthcare | 4.83% |
| Mahindra & Mahindra Limited | Automobile & Ancillaries | 3.3% |
| TVS Motor Company Limited | Automobile & Ancillaries | 3.17% |
| Vedanta Aluminium Metal Limited | Non – Ferrous Metals | 3.13% |
| Hindustan Zinc Limited | Non – Ferrous Metals | 3.04% |
| National Aluminium Company Limited | Non – Ferrous Metals | 3.01% |
The top 10 holdings account for approximately 44.91% of the portfolio.
To see all holdings, visit the Baroda BNP Paribas Manufacturing Fund Direct Growth Plan page
The largest holding, Divi’S Laboratories Limited, carries a 7.68% weight, so it is meaningful but not overwhelming on its own. The next few positions stay fairly close together, with Hitachi Energy India Limited at 5.96% and Bharat Heavy Electricals Limited at 5.62%, which suggests the fund does not rely on a single dominant name.
Weight then eases down into the 5% to 3% zone by the middle and lower end of the top 10. That pattern may reduce dependence on any one stock, but the holdings still look selective rather than broad. Because the top 10 account for 44.91% of the portfolio and there are 45 disclosed holdings in total, the portfolio appears to use a fairly long tail outside the largest positions.
That combination points to moderate concentration in the leading ideas and a wider spread beyond them. In our view, such a structure may allow theme exposure to come through without making the portfolio fully dependent on just a handful of names.
Source data date: as of 10 Sep 2026
Who should invest
This fund fits investors who can accept High Risk exposure and are comfortable with a theme-led equity portfolio that may move sharply around market cycles. The 1-year return has been positive, but the 3-year and 5-year records are not available, so the investment case depends more on current behaviour and portfolio structure than on a long compounding history.
An investment horizon of at least several years is more suitable than a short-term view, because theme funds can move differently from the broader market benchmark. The trade-off is clear: the portfolio offers focused manufacturing exposure and has recently beaten the benchmark, but it does not yet have a long record to show how it behaves through a full cycle. Investors who prefer steadier and more established return patterns may find that trade-off difficult.
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 applies as nil up to 10% of units and 1% for the remaining units on or before 1 year; there is no exit load after the holding period is completed.
Source data date: as of 10 Sep 2026
Frequently asked questions
What is the current NAV of Baroda BNP Paribas Manufacturing Fund Direct Growth Plan?
Its NAV is ₹11.3763 as of 10 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 13.64%, while the 3-year and 5-year returns are Data not available.
How has the fund performed versus the benchmark?
It has beaten the benchmark over 1 year, and it also fell less than the benchmark over 1 month. Over 3 months, it recovered more strongly than the benchmark.
How does it compare with the peer funds listed here?
Its 1-year return is lower than several of the peer funds shown, which have much stronger recent gains. The fund does not yet have a 3-year or 5-year record to support a fuller comparison.
Is there a minimum SIP amount?
Yes. The minimum SIP amount is ₹500.
What are the fund’s risk profile, portfolio shape and exit load?
It is tagged High Risk and the top 10 holdings account for 44.91% of the portfolio across 45 disclosed holdings. Exit load is nil up to 10% of units and 1% for the remaining units on or before 1 year, with no exit load after the holding period.
Bottom line
Baroda BNP Paribas Manufacturing Fund Direct Growth Plan has a better short-term record than its benchmark, but its longer-term track record is still too short to judge consistency. Against the peer funds shown, its 1-year return is modest, although it remains ahead of the benchmark on the available horizon. The portfolio is fairly selective, with the top 10 holdings accounting for 44.91% of assets, and the scheme carries a High Risk label, so it is best viewed as a theme-focused equity option for investors who can handle uneven performance.
Published on 11 September 2026 at 2:20 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.