LIC MF Focused Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 15, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
LIC MF Focused Fund Direct Growth Plan has a NAV of ₹24.3572 as of 11 September 2026 and an AUM of ₹175 Cr. Its 1-year, 3-year and 5-year returns are 2.19%, 8.78% and 8.88%, and the scheme is tagged as High Risk. Our view is that the fund fits investors who can accept sharp swings in a concentrated equity portfolio and who want a long horizon rather than a short holding period.
The benchmark-tracking context matters here: the fund has outpaced NIFTY 50 over 3 years and 5 years, but its recent 1-year return is far weaker than the benchmark. That mix points to a fund that has shown longer-term resilience, yet has also faced a softer stretch more recently.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹24.3572 as of 11 Sep 2026 |
| AUM | ₹175 Cr |
| Expense Ratio | 1.58% |
| Launch Date | 17 Nov 2017 |
| Min SIP | ₹200 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | Nil upto 12% of units and 1% for remaining units on or before 12M, Nil after 12M |
| Fund Managers | Mahesh Bendre |
The fund is managed by Mahesh Bendre.
Source data date: as of 11 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -2.29% | -3.66% |
| 3M | 4.74% | -1.91% |
| 1Y | 2.19% | -7.62% |
| 3Y | 8.78% | 6.22% |
| 5Y | 8.88% | 5.84% |
The recent pattern is mixed rather than smooth. The 1-month return is negative, but it still held up better than the benchmark over the same period. The 3-month figure is more encouraging, as the fund turned positive while the benchmark remained negative.
The 1-year number is the most important recent checkpoint. At 2.19%, the fund has stayed positive while the benchmark has been negative, which suggests relative stability over a difficult stretch. Even so, the level of return is modest for an equity fund and does not signal strong momentum.
The longer-term picture is steadier. Over 3 years and 5 years, the fund has stayed ahead of NIFTY 50, which tells us the portfolio has been able to compound better than the index across a full market cycle. That longer view matters more for a focused equity strategy than the short-term dip, but the gap between the recent 1-year outcome and the longer-run pattern shows that returns can still be uneven.
Overall, our read is that the fund has been resilient versus the benchmark in the medium and long term, but the recent phase has been softer. Investors looking at this scheme should weigh the better 3-year and 5-year outcome against the weaker near-term pace.
Source data date: as of 11 Sep 2026
Should you BUY or HOLD LIC MF Focused?
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 LIC MF Focused? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| LIC MF Focused Fund Direct Growth Plan | 2.19% | 8.78% | 8.88% |
| Motilal Oswal Focused Fund Direct Growth Plan | 27.94% | 13.87% | 10.83% |
| Old Bridge Focused Fund Direct Growth Plan | 16.75% | Data not available | Data not available |
| SBI Focused Fund Direct Growth Plan | 12.8% | 15.38% | 12.15% |
| ITI Focused Fund Direct Growth Plan | 12.03% | 18.09% | Data not available |
| Quant Focused Fund Direct Growth Plan | 11.1% | 12.62% | 13.61% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
The fund’s 1-year return is well below the strongest peer figures in this set, even though a few peers are also materially ahead on the same horizon. The longer-term picture is also softer than several peers with available 3-year and 5-year data, where the fund trails SBI Focused Fund Direct Growth Plan, Quant Focused Fund Direct Growth Plan and Motilal Oswal Focused Fund Direct Growth Plan on at least one of those measures.
What stands out is the split between near-term and longer-term comparisons. The fund has shown better 3-year and 5-year resilience than its benchmark, but the peer set shows that this still leaves room for stronger long-term compounding among focused equity schemes. That makes the current fund look more moderate than the most dynamic peer performers, while still keeping a clearer edge over the benchmark across fuller periods.
Source data date: as of 11 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Tata Motors Passenger Vehicles Ltd. | Automobile & Ancillaries | 7.25% |
| Indo-Mim Ltd. | Domestic Equities | 5.38% |
| TREPS | Cash & Cash Equivalents and Net Assets | 5.08% |
| Tata Motors Ltd. | Domestic Equities | 4.41% |
| Garware Hi-Tech Films Ltd. | Plastic Products | 4.13% |
| Bharat Forge Ltd. | Automobile & Ancillaries | 4.04% |
| State Bank of India | Bank | 4.04% |
| Oracle Financial Services Software Ltd. | IT | 4.03% |
| ICICI Bank Ltd. | Bank | 3.94% |
| Interglobe Aviation Ltd. | Aviation | 3.93% |
The top 10 holdings account for approximately 46.23% of the portfolio.
To see all holdings, visit the LIC MF Focused Fund Direct Growth Plan page
The largest position is Tata Motors Passenger Vehicles Ltd. at 7.25%, which is meaningful but not dominating by itself. After that, the weights taper fairly quickly into the 5% range and then settle around the 4% band, so the portfolio is not built around one outsized bet.
That said, the top 10 holdings together account for 46.23% of the portfolio, and the fund discloses 30 holdings in total. Our reading is that the scheme may still be fairly concentrated in a limited set of positions, with a longer tail that is not shown here. This kind of structure could allow individual holdings to matter more to outcomes, especially in a focused equity strategy.
Source data date: as of 11 Sep 2026
Who should invest
This fund suits investors who can handle High Risk volatility and who are comfortable with a concentrated equity style. The longer horizon matters here: the 3-year and 5-year returns are stronger than the benchmark, while the 1-year result is much softer and shows that short-term swings can still be uncomfortable.
It is more appropriate for someone who can stay invested through uneven phases and who values benchmark-beating compounding over a full cycle more than steady monthly consistency. The main trade-off is that the portfolio can deliver periods of lag even after a stronger long-run phase, so patience is part of the fit.
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 12% of units and 1% for remaining units on or before 12 months. No exit load after the holding period.
Source data date: as of 11 Sep 2026
Frequently asked questions
What is the current NAV of LIC MF Focused Fund Direct Growth Plan?
The current NAV is ₹24.3572 as of 11 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 2.19% for 1 year, 8.78% for 3 years and 8.88% for 5 years.
How does the fund compare with NIFTY 50?
It has done better than NIFTY 50 over 3 years and 5 years, but the 1-year return is lower than the benchmark’s recent movement. That means the longer-run edge is clearer than the near-term picture.
Which peer fund has the strongest 1-year return in the comparison set?
Motilal Oswal Focused Fund Direct Growth Plan has the highest 1-year return among the listed peers at 27.94%.
Is there an exit load?
Yes. There is no exit load up to 12% of units and 1% applies for the remaining units on or before 12 months. After the holding period, there is no exit load.
Who manages the fund?
The fund is managed by Mahesh Bendre.
Bottom line
LIC MF Focused Fund Direct Growth Plan has a mixed recent record but a better longer-term shape. Its 3-year and 5-year returns are ahead of the benchmark, while the latest 1-year outcome is much softer, so the story is about patience rather than smooth consistency. The portfolio looks fairly concentrated, with the leading holdings carrying meaningful weight. In our view, the fund is best suited to investors who can tolerate High Risk and who want a focused equity approach with a longer holding horizon.
Published on 15 September 2026 at 3:43 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.