Mirae Asset Balanced Advantage Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Mirae Asset Balanced Advantage Fund Direct Growth Plan has a NAV of ₹15.324 as of 16 September 2026 and an AUM of ₹2,169 Cr. Its 1-year, 3-year and 5-year returns are 3.37%, 9.61% and 0%, and the scheme sits in the High Risk category.
Our view is that this is a hybrid fund for investors who want a diversified mix but are comfortable with a sharper risk profile. The return pattern is uneven against the benchmark, with periods of relative resilience but also weaker recent numbers, so it fits better as a medium- to long-term holding than as a short-horizon allocation.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹15.324 as of 16 Sep 2026 |
| AUM | ₹2,169 Cr |
| Expense Ratio | 0.73% |
| Launch Date | 11 Aug 2022 |
| Min SIP | ₹99 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Hybrid |
| Exit Load | 1% on or before 6M (180D), Nil after 6M (180D) |
| Fund Managers | Harshad Borawake, Basant Bafna |
The fund is managed by Harshad Borawake and Basant Bafna.
Source data date: as of 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -2% | -4.41% |
| 3M | 0.23% | -3.6% |
| 1Y | 3.37% | -7.76% |
| 3Y | 9.61% | 5.74% |
| 5Y | Data not available | Data not available |
The recent pattern is mixed. Over 1 month, the fund declined less than the benchmark, and over 3 months it stayed marginally positive while the benchmark remained negative. That tells us the portfolio has had some defensive stretch in the short run, even though the return trend is not smooth.
The 1-year figure is also better than the benchmark, but only because the benchmark has been weak. That does not change the fact that the fund’s own 1-year return is modest for a High Risk scheme, so we would not read the latest stretch as a strong momentum phase.
The 3-year figure is more constructive. It shows the fund has compounded at a better pace than the benchmark over that horizon, which suggests the longer holding period has been more rewarding than the recent 12-month window. The contrast between the 1-year and 3-year numbers matters: the fund has not followed a steady upward line.
There is no 5-year return available for this scheme because it has not been in the market that long. For us, that keeps the focus on the post-launch record, where longer than one-year performance has been more useful than the latest few months.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD Mirae Asset Balanced Advantage?
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 Mirae Asset Balanced Advantage? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Mirae Asset Balanced Advantage Fund Direct Growth Plan | 3.37% | 9.61% | Data not available |
| Unifi Dynamic Asset Allocation Fund Direct Growth Plan | 8.6% | Data not available | Data not available |
| Aditya Birla SL Balanced Advantage Fund Direct Growth Plan | 5.17% | 10.96% | 9.97% |
| Baroda BNP Paribas Balanced Advantage Fund Direct Growth Plan | 4.23% | 11.11% | 10.62% |
| 360 ONE Balanced Hybrid Fund Direct Growth Plan | 3.64% | Data not available | Data not available |
| Bank of India Balanced Advantage Fund Direct Growth Plan | 3.62% | 8.24% | 10.21% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
Against peers with available 1-year figures, the fund trails Unifi Dynamic Asset Allocation Fund Direct Growth Plan, Aditya Birla SL Balanced Advantage Fund Direct Growth Plan, Baroda BNP Paribas Balanced Advantage Fund Direct Growth Plan and even sits just below 360 ONE Balanced Hybrid Fund Direct Growth Plan and Bank of India Balanced Advantage Fund Direct Growth Plan. That makes the latest 12-month showing more subdued than the stronger peer readings.
The 3-year picture is more balanced. The fund is ahead of Bank of India Balanced Advantage Fund Direct Growth Plan on this measure, but behind Aditya Birla SL Balanced Advantage Fund Direct Growth Plan and Baroda BNP Paribas Balanced Advantage Fund Direct Growth Plan. Because some peers do not have usable 3-year or 5-year figures, the short-term and longer-term comparison tells a mixed story rather than a single clear one.
Source data date: as of 16 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| HDFC Bank Ltd. | Bank | 4.57% |
| ICICI Bank Ltd. | Bank | 3.77% |
| TREPS | Cash & Cash Equivalents and Net Assets | 3.61% |
| 7.18% Government of India (MD 14/08/2033) | Government Securities | 3.31% |
| Reliance Industries Ltd. | Crude Oil | 2.85% |
| State Bank of India | Bank | 2.84% |
| Bharti Airtel Ltd. | Telecom | 2.83% |
| 7.60% Torrent Pharmaceuticals Ltd. (MD 19/01/2029)** | Corporate Debt | 2.29% |
| 7.53% Bajaj Housing Finance Ltd. (MD 28/09/2029)** | Corporate Debt | 2.28% |
| 7.63% Mindspace Business Parks Reit (MD 26/09/2028)** | Corporate Debt | 2.26% |
The top 10 holdings account for approximately 30.61% of the portfolio.
To see all holdings, visit the Mirae Asset Balanced Advantage Fund Direct Growth Plan page
The largest holding, HDFC Bank Ltd. at 4.57%, is only modestly bigger than the next few positions, which suggests no single stock dominates the visible core. The tenth holding, 7.63% Mindspace Business Parks Reit (MD 26/09/2028)** at 2.26%, is not far behind the top names, so the drop from first to tenth is measured rather than steep.
That said, the mix is still not evenly spread across the disclosed names. The top 10 holdings together make up 30.61% of the portfolio, while the portfolio contains 62 disclosed holdings in total, so the fund likely relies on a long tail of smaller positions beyond the visible top slice. That structure may help dilute the influence of any one holding, even though the largest names can still matter day to day.
We also note that the top positions include banks, cash, government securities, equity and corporate debt. That blend may contribute to the fund’s hybrid behaviour, but the actual portfolio outcome will depend on how these sleeves move over time.
Source data date: as of 16 Sep 2026
Who should invest
This fund suits investors who can tolerate High Risk exposure and are comfortable with returns that can move unevenly from one period to the next. The 1-year result has been modest, while the 3-year record is more supportive, so a longer horizon is more relevant than a near-term view.
The main trade-off is that the fund offers diversification across equity, debt and cash-like positions, but the return path has not been smooth and the benchmark comparison has varied by period. For investors who want hybrid exposure and can hold through short-term swings, the profile may fit better than it would for someone looking for stable, near-term outcomes.
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% on or before 6M (180D), Nil after 6M (180D).
There is no exit load after the holding period.
Source data date: as of 16 Sep 2026
Frequently asked questions
What is the current NAV of Mirae Asset Balanced Advantage Fund Direct Growth Plan?
The current NAV is ₹15.324 as of 16 September 2026.
What are the 1-year, 3-year and 5-year returns?
The 1-year return is 3.37%, the 3-year return is 9.61%, and the 5-year return is Data not available because the scheme does not have a full 5-year track record yet.
How has the fund done versus the benchmark?
It has beaten the benchmark over 1 year and 3 years, with the benchmark showing -7.76% over 1 year and 5.74% over 3 years. In the shorter 1-month and 3-month periods, the fund also held up better than the benchmark.
How does it compare with other peer funds?
Its 1-year return is below Unifi Dynamic Asset Allocation Fund Direct Growth Plan, Aditya Birla SL Balanced Advantage Fund Direct Growth Plan, Baroda BNP Paribas Balanced Advantage Fund Direct Growth Plan, 360 ONE Balanced Hybrid Fund Direct Growth Plan and Bank of India Balanced Advantage Fund Direct Growth Plan. Over 3 years, it is ahead of Bank of India Balanced Advantage Fund Direct Growth Plan but behind Aditya Birla SL Balanced Advantage Fund Direct Growth Plan and Baroda BNP Paribas Balanced Advantage Fund Direct Growth Plan where figures are available.
What is the minimum SIP amount?
The minimum SIP amount is ₹99.
Who manages the fund and what is the exit load?
The fund is managed by Harshad Borawake and Basant Bafna. The exit load is 1% on or before 6M (180D), and Nil after 6M (180D).
Bottom line
Mirae Asset Balanced Advantage Fund Direct Growth Plan has shown a mixed recent path, with a softer 1-year result but a better 3-year record. Against peers, the latest 12-month number looks weaker than several available comparisons, while the longer-term record is more respectable but still uneven. Its High Risk tag, hybrid structure and top holdings spread across banks, sovereign debt, cash and corporate debt make it a fund for investors who can hold through fluctuations and prefer a diversified hybrid approach over a smooth return journey.
Published on 17 September 2026 at 3:42 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.