UTI Medium Term Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 11, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
UTI Medium Term Fund Direct Growth Plan currently has a NAV of ₹20.8089 as of 10 Sep 2026 and a scheme AUM of ₹36 Cr. Its 1-year, 3-year and 5-year returns are 5.47%, 7.06% and 6.68%, and the fund sits in the Medium Risk category.
Our view is that this is a steady, debt-oriented option for conservative investors who want measured return potential rather than sharp upside. The fund has held up better than the benchmark over medium horizons, while the portfolio mix leans heavily on government securities and cash-like positioning, which supports a more tempered profile.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹20.8089 as of 10 Sep 2026 |
| AUM | ₹36 Cr |
| Expense Ratio | 0.83% |
| Launch Date | 31 Mar 2015 |
| Min SIP | ₹500 |
| Risk Category | Medium Risk |
| Benchmark | Nifty 50 |
| Fund Category | Debt |
| Exit Load | Nil upto 10% of units and 1% for remaining units on or before 12M, Nil after 12M |
| Fund Managers | Anurag Mittal |
The fund is managed by Anurag Mittal.
Source data date: as of 10 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -0.01% | -4.06% |
| 3M | 1.68% | 1.37% |
| 1Y | 5.47% | -7.31% |
| 3Y | 7.06% | 6.07% |
| 5Y | 6.68% | 5.91% |
The near-term pattern has been mixed but still relatively orderly. Over 1 month, the fund was almost flat while the benchmark was more volatile, and over 3 months the fund stayed modestly ahead. That suggests the portfolio has not been chasing sharp short-term moves; instead, it has delivered a more controlled drift in returns.
The 1-year figure stands out because the fund remained positive while the benchmark was negative. That gap matters for a debt fund because it shows the fund’s return path has been more resilient than the benchmark during a difficult period. It does not imply smoothness every month, but it does point to a more defensive return pattern over the last year.
On longer horizons, the 3-year and 5-year returns are both above the benchmark. The spread is not dramatic, yet it is consistent enough to show that the fund has compounded better over time than the benchmark used here. That long-run picture is more useful for assessing a medium-term debt fund than any single month’s movement.
What we see, overall, is a fund whose recent return behaviour aligns with its longer-run pattern rather than contradicting it. The numbers suggest moderate compounding with some short-term movement, not a high-volatility outcome.
Source data date: as of 10 Sep 2026
Should you BUY or HOLD UTI Medium Term?
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 Medium Term? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| UTI Medium Term Fund Direct Growth Plan | 5.47% | 7.06% | 6.68% |
| Aditya Birla SL Medium Term Fund Direct Growth Plan | 9.40% | 10.65% | 12.73% |
| ICICI Pru Medium Term Fund Direct Growth Plan | 7.88% | 8.53% | 7.41% |
| Kotak Medium Term Fund Direct Growth Plan | 7.65% | 9.04% | 7.43% |
| SBI Medium Term Fund Direct Growth Plan | 7.16% | 7.89% | 6.87% |
| Axis Medium Term Fund Direct Growth Plan | 7.10% | 8.45% | 7.37% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
The fund’s 1-year return is below every peer shown here, while the 3-year and 5-year figures also sit behind the stronger names in this set. That means the short-term comparison and the longer-term comparison tell a similar story: the fund has been more restrained on returns than the better-performing peers, even though it has remained consistent against its benchmark over longer periods.
At the same time, the gap is not the same at every horizon. The 5-year figure is closer to the lower end of the peer range than the 1-year figure is, so the longer-term picture is somewhat more balanced than the most recent year. For readers comparing medium-term debt options, that makes the fund look steadier than standout on returns.
Source data date: as of 10 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Net Current Assets | Cash & Cash Equivalents and Net Assets | 19.22% |
| 07.18% Gsec Mat -14/08/2033 | Government Securities | 18.27% |
| 7.26% Gsec 22/08/2032 | Government Securities | 11.29% |
| 7.79% Uttarpradesh SDL 29/03/2033 | Government Securities | 8.53% |
| NCD Bajaj Finance Ltd. | Corporate Debt | 8.06% |
| 7.10% Gsec – Mat – 08/04/2034 | Government Securities | 6.97% |
| NCD Eris Lifesciences Ltd | Corporate Debt | 5.51% |
| NCD Adani Power Ltd. | Corporate Debt | 5.47% |
| 07.73% Xirr PTC- Shivshakti Securitisation Trust-28/09/2029 | PTC & Securitized Debt | 5.35% |
| NCD 360 One Prime Ltd | Corporate Debt | 4.14% |
The top 10 holdings account for approximately 92.81% of the portfolio.
To see all holdings, visit the UTI Medium Term Fund Direct Growth Plan page
The largest disclosed holding, Net Current Assets, is 19.22%, which is sizeable on its own and likely to have a meaningful influence on short-term portfolio behaviour. The next positions are also material, with the government security allocation occupying several of the largest slots. That pattern suggests the fund is using a meaningful liquidity cushion alongside sovereign exposure.
The drop from the largest holding to the tenth holding is noticeable but not extreme. After the top few positions, the weights settle into a fairly tight band around the mid-single digits, which points to a portfolio that is not entirely dependent on one instrument but is still shaped by a concentrated set of large positions.
Because the disclosed top 10 holdings already account for 92.81% of the portfolio and the fund discloses 13 holdings in total, the structure appears fairly concentrated in practice. That concentration may support clarity in portfolio construction, but it also means the larger positions could matter more than a long tail of smaller names.
Source data date: as of 10 Sep 2026
Who should invest
This fund may suit investors who are comfortable with medium risk and want a debt-oriented holding for a horizon of at least three to five years. The return profile shows moderate compounding across 1-year, 3-year and 5-year periods, with the longer-term numbers staying ahead of the benchmark used here.
The main trade-off is that the fund has not matched the stronger peer returns shown in the comparison set, even though it has been steadier versus the benchmark over time. Investors who value a more measured profile and a portfolio with significant government security exposure may find that balance acceptable, while those chasing higher return outcomes may look elsewhere.
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: Nil up to 10% of units and 1% for remaining units if sold within 12 months; no exit load after 12 months.
Source data date: as of 10 Sep 2026
Frequently asked questions
What is the current NAV of UTI Medium Term Fund Direct Growth Plan?
The current NAV is ₹20.8089 as of 10 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 5.47%, the 3-year return is 7.06% and the 5-year return is 6.68%.
How does the fund compare with its benchmark?
It has outperformed the benchmark over 1 year, 3 years and 5 years. The 1-month comparison is also better, while the 3-month figure is slightly ahead.
How does the fund compare with the peer funds shown here?
Its 1-year, 3-year and 5-year returns are below the stronger peer figures in this group. The longer-term gap is smaller than the 1-year gap, but the fund is still more restrained on returns than the leading names shown here.
What is the minimum SIP amount?
The minimum SIP amount is ₹500.
Who manages the fund and what is its exit load?
The fund is managed by Anurag Mittal. The exit load is nil up to 10% of units and 1% for remaining units if sold within 12 months, and there is no exit load after 12 months.
Bottom line
UTI Medium Term Fund Direct Growth Plan looks like a measured debt fund rather than a return leader. Its recent figures are mixed but still orderly, and its longer-term results remain ahead of the benchmark used here. Against the peer set shown, though, the fund’s return profile is softer, especially over 1 year. The portfolio is also meaningfully shaped by large government security and cash positions, which supports a more cautious posture and makes it most relevant for investors who value steadier medium-term debt exposure.
Published on 11 September 2026 at 5:36 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.