DSP Value Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 16, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
DSP Value Fund Direct Growth Plan had a NAV of ₹24.247 as of 11 Sep 2026 and an AUM of ₹2,220 Cr. Its 1-year, 3-year and 5-year returns are 7.21%, 15.69% and 12.56% respectively, and the scheme is tagged as High Risk. Our view is that the fund has rewarded patience better than short holding periods, but the recent run is softer than its longer-term pace and the Nifty 50 benchmark, so it suits investors who can handle swings and want a value-oriented equity allocation.
The portfolio is not built as a pure cash-rich defensive book: it holds a meaningful cash and derivatives layer alongside large-bank and quality large-cap names. That mix can support flexibility, but it also means returns may depend on stock selection and active positioning rather than broad market participation alone.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹24.247 as of 11 Sep 2026 |
| AUM | ₹2,220 Cr |
| Expense Ratio | 0.95% |
| Launch Date | 10 Dec 2020 |
| Min SIP | ₹100 |
| 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 1M, NIL after 1M |
| Fund Managers | Abhishek Singh, Kaivalya Nadkarni |
The fund is managed by Abhishek Singh and Kaivalya Nadkarni.
Source data date: as of 11 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.19% | -4.81% |
| 3M | -0.99% | -3.63% |
| 1Y | 7.21% | -8.27% |
| 3Y | 15.69% | 5.59% |
| 5Y | 12.56% | 5.58% |
The near-term numbers are weak in absolute terms, but the fund has still held up better than the benchmark over both 1 month and 3 months. That tells us the strategy has not been immune to recent pressure, yet it has been less fragile than the index in the same window.
The 1-year return is the strongest evidence of active value-style differentiation: the fund stayed positive while the benchmark was negative. That gap matters because it shows the fund has not simply tracked market direction over the last year.
Over 3 years and 5 years, the picture remains constructive. The fund’s 15.69% three-year return and 12.56% five-year return both sit well above the benchmark’s matching figures, which points to better compounding over a full cycle than the index has delivered. Even so, the recent soft patch means the journey has not been smooth, and the pattern looks cyclical rather than linear. In our view, this is the kind of return profile that can work for investors who accept uneven intermediate results in exchange for stronger longer-run outcomes.
Source data date: as of 11 Sep 2026
Should you BUY or HOLD DSP Value?
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 DSP Value? Thinking of investing now?
Peer comparison
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| DSP Value Fund Direct Growth Plan | 7.21% | 15.69% | 12.56% |
| LIC MF Value Fund Direct Growth Plan | 17.5% | 15.81% | 13.33% |
| Quant Value Fund Direct Growth Plan | 15.98% | 19.71% | Data not available |
| Aditya Birla SL Value Fund Direct Growth Plan | 10.2% | 13.21% | 13.75% |
| Mahindra Manulife Value Fund Direct Growth Plan | 9.33% | Data not available | Data not available |
On the latest one-year numbers, this fund trails LIC MF Value Fund Direct Growth Plan and Quant Value Fund Direct Growth Plan, while still staying above Mahindra Manulife Value Fund Direct Growth Plan. The gap is narrower on the three-year view, where it sits close to LIC MF Value Fund Direct Growth Plan and behind Quant Value Fund Direct Growth Plan, which has a stronger three-year run.
The five-year comparison is more mixed. This fund is ahead of Mahindra Manulife Value Fund Direct Growth Plan on the available horizon data, but it remains behind LIC MF Value Fund Direct Growth Plan and Aditya Birla SL Value Fund Direct Growth Plan on five-year returns. The short-term and longer-term stories therefore do not match perfectly: recent numbers are softer, while the multi-year record still shows a workable compounding profile.
Source data date: as of 11 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| TREPS / Reverse Repo Investments | Cash & Cash Equivalents and Net Assets | 12.58% |
| HDFC Bank Limited | Bank | 7.98% |
| ICICI Bank Limited | Bank | 7.92% |
| Nifty Sep26 | Derivatives-Futures | 4.26% |
| Mahindra & Mahindra Limited | Automobile & Ancillaries | 3.4% |
| Kotak Mahindra Bank Limited | Bank | 2.65% |
| Bharti Airtel Limited | Telecom | 2.56% |
| Reliance Industries Limited | Crude Oil | 2.26% |
| ITC Limited | FMCG | 2.25% |
| NTPC Limited | Power | 2.19% |
The top 10 holdings account for approximately 48.05% of the portfolio.
To see all holdings, visit the DSP Value Fund Direct Growth Plan page
The largest holding, TREPS / Reverse Repo Investments, is 12.58%, which is a meaningful cash-like allocation and can give the fund room to wait for opportunities. After that, the weights step down fairly quickly into large-bank positions, with HDFC Bank at 7.98% and ICICI Bank at 7.92%, before moving into smaller positions below 5%.
That drop from the first holding to the tenth holding suggests the portfolio is not dominated by one position alone, but neither is it evenly spread. The displayed top holdings account for 48.05% of the portfolio, so a sizeable share still sits in the longer tail across the remaining disclosed holdings. With 55 holdings in total, the fund may blend concentration in a handful of names with diversification across many smaller positions.
Because the book includes cash, derivatives and a range of large-cap operating businesses, the portfolio may behave differently from a simple index replica. In our view, that can support active management, but it also means position selection and timing are likely to matter more than in a passive strategy.
Source data date: as of 11 Sep 2026
Who should invest
This fund fits investors who can tolerate a High Risk equity profile and accept that shorter periods may be choppy even when the longer record is steadier. The 1-year return is positive, but the 1-month and 3-month numbers are soft, so the fund is not ideal for anyone who needs smooth near-term outcomes.
Its 3-year and 5-year returns are stronger than the benchmark, which supports a longer investment horizon and a willingness to ride through uneven phases. The main trade-off is clear: you are taking on equity volatility and an active value-oriented portfolio in exchange for the possibility of better multi-year compounding than the broad market.
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: Up to 1 month, NIL for up to 10% of units and 1% for the remaining units. After 1 month, no exit load applies.
Source data date: as of 11 Sep 2026
Frequently asked questions
What is the current NAV of DSP Value Fund Direct Growth Plan?
The current NAV is ₹24.247 as of 11 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The returns are 7.21% for 1 year, 15.69% for 3 years and 12.56% for 5 years.
How does the fund compare with the Nifty 50 benchmark?
It has beaten the benchmark over 1 year, 3 years and 5 years, and it has also held up better than the benchmark over the last 1 month and 3 months. The recent stretch is weak, but the multi-year record is stronger than the index.
How does it compare with the peer funds listed here?
On the latest 1-year view, it trails LIC MF Value Fund Direct Growth Plan and Quant Value Fund Direct Growth Plan, while its 3-year and 5-year numbers are also behind some peers with available data. The longer record is still constructive, but the peer set shows stronger recent performance in a few cases.
What is the minimum SIP amount?
The minimum SIP amount is ₹100.
Who manages the fund and what is the exit load?
The fund is managed by Abhishek Singh and Kaivalya Nadkarni. Up to 1 month, the exit load is NIL for up to 10% of units and 1% for the remaining units; after 1 month, there is no exit load.
Bottom line
DSP Value Fund Direct Growth Plan shows a clear split between short-term softness and longer-term resilience. The latest near-term numbers are under pressure, but the 3-year and 5-year figures remain ahead of the benchmark and keep the overall compounding story intact. The High Risk label and the portfolio’s mix of cash, derivatives and large-cap stocks mean the ride may be uneven. That combination is more suitable for investors who can stay invested through cycles and are comfortable with an active value-style equity approach.
Published on 16 September 2026 at 5:01 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.