LIC MF Multi Asset Allocation Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 16, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
LIC MF Multi Asset Allocation Fund Direct Growth Plan is at ₹12.2755 as of 15 Sep 2026, with an AUM of ₹1,004 Cr. Its 1-year, 3-year and 5-year returns are 5.49%, Data not available and Data not available, while the scheme sits in the High Risk bucket. Our view is that this is a multi-asset fund whose recent numbers look better than its short-term benchmark behaviour, but the record is still too short to judge it as a full market cycle product.
The fund’s stated risk profile, mixed holding base and modest one-year return suggest it may suit investors who can tolerate higher fluctuation and want diversification across asset types. It looks more relevant for a longer holding period than for a short tactical allocation.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹12.2755 as of 15 Sep 2026 |
| AUM | ₹1,004 Cr |
| Expense Ratio | 0.6% |
| Launch Date | 14 Feb 2025 |
| Min SIP | ₹200 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Hybrid |
| Exit Load | 1% on or before 3M, Nil after 3M |
| Fund Managers | Sumit Bhatnagar, Pratik Shroff |
The fund is managed by Sumit Bhatnagar and Pratik Shroff.
Source data date: as of 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -2.88% | -4.81% |
| 3M | -0.41% | -3.63% |
| 1Y | 5.49% | -8.27% |
| 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 and 3 months, the fund stayed negative, yet it declined less than the benchmark in both periods. That tells us the fund was still under pressure, but it held up better than the Nifty 50 during the same stretch.
The 1-year picture is much stronger. The fund returned 5.49% while the benchmark fell 8.27%, so the gap is wide enough to show meaningful relative resilience. For investors, that makes the recent period look more constructive than the index backdrop, even though the fund has not delivered a smooth run throughout the year.
The time pattern also suggests a recovery after a difficult phase earlier in the year. The fund spent a stretch below its later levels and then improved, which is consistent with a strategy that can move through uneven phases before stabilising. Because the scheme was launched only in February 2025, there is not enough public history here to stretch the 3-year or 5-year view into a true long-cycle judgement. For now, our view is that the fund’s main evidence comes from its shorter-horizon defence versus the benchmark and its positive 1-year return.
The key point is that the short-term trajectory looks better than the benchmark, but the available history remains limited. That means the fund’s current case rests more on relative behaviour and portfolio mix than on a long trail of compounding.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD LIC MF 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 LIC MF Multi Asset Allocation? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| LIC MF Multi Asset Allocation Fund Direct Growth Plan | 5.49% | Data not available | Data not available |
| 360 ONE Multi Asset Allocation Fund Direct Growth Plan | 18.8% | Data not available | Data not available |
| Quant Multi Asset Allocation Fund Direct Growth Plan | 17.28% | 21.36% | 19.89% |
| Kotak Multi Asset Allocation Fund Direct Growth Plan | 16.46% | Data not available | Data not available |
| DSP Multi Asset Allocation Fund Direct Growth Plan | 14.54% | Data not available | Data not available |
| Bandhan Multi Asset Allocation Fund Direct Growth Plan | 13.61% | 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 1-year view, the fund trails the stronger peer returns by a clear margin, even though it has stayed ahead of the benchmark in the same period. That combination matters because it shows relative resilience versus the index without matching the sharper upside delivered by several peers.
The longer-horizon comparison is less complete because only one peer in the list has 3-year and 5-year figures, and those figures are materially higher than this fund’s available trailing 1-year return. That makes the present peer picture look mixed: the fund has defended better than the benchmark recently, but it does not yet show the same level of return momentum as the more established peer with longer history. The two time frames therefore tell slightly different stories.
Source data date: as of 15 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| LIC Mutual Fund | Domestic Mutual Funds Units – Gold | 15.07% |
| Aditya Birla Sun Life Mutual Fund | Domestic Mutual Funds Units – Silver | 3.88% |
| ICICI Bank Ltd. | Bank | 3.78% |
| Interglobe Aviation Ltd. | Aviation | 2.53% |
| Axis Bank Ltd. | Bank | 2.5% |
| 7.83% Tata Capital Housing Finance Ltd. ** | Corporate Debt | 2.48% |
| Larsen & Toubro Ltd. | Infrastructure | 2.48% |
| SML Mahindra Ltd. | Automobile & Ancillaries | 2.31% |
| Multi Commodity Exchange of India Ltd. | Finance | 2.24% |
| Bharti Airtel Ltd. | Telecom | 2.09% |
The top 10 holdings account for approximately 39.36% of the portfolio.
To see all holdings, visit the LIC MF Multi Asset Allocation Fund Direct Growth Plan page
The largest holding is 15.07%, which is sizable enough to matter on its own because it can influence the fund’s day-to-day movement more than the smaller positions. After that, the weights drop quickly into the low single digits, with the tenth holding at 2.09%. That gap suggests the portfolio is not evenly spread across its biggest names.
At the same time, the top 10 holdings together make up 39.36% of the portfolio, and the fund discloses 61 holdings in total. That combination points to a longer tail beyond the largest positions, so the fund may not depend only on one or two names, even though the top holding is clearly meaningful. Our view is that the structure looks moderately concentrated at the top and more diversified further down the book.
Source data date: as of 15 Sep 2026
Who should invest
This fund is better aligned with investors who can accept High Risk and are comfortable with uneven short-term movements. The recent return pattern shows that it can hold up better than the benchmark in weak phases, but the return history is still short, so a patient horizon matters.
It may appeal more to investors looking for a diversified hybrid allocation than to those seeking steady, low-volatility outcomes. The main trade-off is clear: you get a portfolio that can cushion benchmark weakness at times, but you also accept a higher-variation return path and a lack of long, established performance history.
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% if units are sold on or before 3 months; nil after 3 months.
Source data date: as of 15 Sep 2026
Frequently asked questions
What is the current NAV of LIC MF Multi Asset Allocation Fund Direct Growth Plan?
Its NAV is ₹12.2755 as of 15 Sep 2026.
What are the 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 5.49%, while the 3-year and 5-year returns are Data not available.
How has the fund done versus Nifty 50?
It has done better than the benchmark over the available 1-month, 3-month and 1-year periods. The 1-year return is 5.49% versus -8.27% for Nifty 50.
How does it compare with peer funds on the available return data?
Its 1-year return is lower than several peers listed here, while still staying ahead of the benchmark over the same period. The shorter history means the comparison is more useful for recent behaviour than for long-cycle judgement.
What is the minimum SIP amount?
The minimum SIP amount is ₹200.
Who manages the fund and what is the exit load?
The fund is managed by Sumit Bhatnagar and Pratik Shroff. The exit load is 1% if units are sold on or before 3 months, and nil after 3 months.
Bottom line
LIC MF Multi Asset Allocation Fund Direct Growth Plan has shown a better recent path than the benchmark, but its longer-history view is still limited and the peer comparison suggests that several comparable funds have delivered stronger 1-year returns. The High Risk label and the quickly changing weight pattern at the top of the portfolio point to a fund that can move around more than a typical conservative hybrid. For investors who want a diversified multi-asset structure and can handle that variability, it is a relevant watchlist name rather than a steady-income style holding.
Published on 16 September 2026 at 10:19 AM 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.