Aditya Birla SL Medium Term Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Aditya Birla SL Medium Term Fund Direct Growth Plan has a current NAV of ₹47.9642 as of 28 Aug 2026 and a scheme AUM of ₹3,280 Cr. Its 1-year, 3-year and 5-year returns are 9.45%, 10.62% and 12.76%, and the fund sits in the Medium Risk category. Our view is that it fits investors who want a debt scheme with a steady long-term record, but who can accept that short stretches may be uneven.

The fund’s portfolio is anchored in corporate debt and government securities, which helps explain its medium-risk profile and its focus on income and carry rather than sharp growth. The recent return pattern is softer than the longer-term record, so we read it as a fund that can compound reasonably over time, but not one that is designed for aggressive short-term outcome chasing.

Quick facts

The fund is managed by Sunaina da Cunha and Mohit Sharma.

Source data date: as of 28 Aug 2026

Performance

On the short side, the fund has been stable rather than exciting. The 1-month return was positive while the benchmark was negative, but the 3-month figure trails the benchmark slightly, which tells us the recent path has been mixed rather than one-way.

The more important picture is the longer horizon. The 1-year return is well ahead of the benchmark, and that gap stays open across 3 years and 5 years. That suggests the fund has generally compounded better than the benchmark over time, even if some recent stretches have been less comfortable.

The multiplier pattern also points to a fund that did not move in a straight line. There were phases of modest softness and recovery, followed by a steadier climb over longer periods. For investors, that usually means the fund can absorb periods of pause or drift, but the return path is still influenced by credit and rate conditions.

Overall, our read is that the fund’s longer-term record is stronger than its very short-term tone. The recent 3-month performance is not as strong as the 1-year and multi-year numbers, so the fund looks more suited to patient holding than to quick return expectations.

Source data date: as of 28 Aug 2026

Peer comparison

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

The fund compares well on the 1-year figure, where it is ahead of all four peers listed here. The same advantage continues over 3 years and 5 years, so the longer-term picture also stays stronger than the peer set shown. That makes the fund’s edge look consistent rather than limited to one time frame.

What matters more is that the peer comparison does not tell the same story as the recent 3-month return. The fund’s short-term return is positive but slightly below one of the peers, while its 1-year and longer-horizon numbers are stronger. In our view, that split matters: the fund has not been the clearest short-term winner, but its multi-year pattern remains comparatively solid.

Source data date: as of 28 Aug 2026

Portfolio: where your money goes

The market-cap distribution is fully mapped to other cap exposure at 100%, with no large-cap, mid-cap or small-cap allocation shown separately.

The portfolio is heavily tilted toward credit and sovereign exposure, with corporate debt taking the largest share and government securities forming the next major block. That mix may keep the fund focused on accrual income, while also giving it a meaningful government-backed element.

The largest sector is materially larger than the others. Corporate debt at 67.36% is much bigger than government securities at 23.74%, so changes in credit conditions may have the greatest influence on the fund’s behaviour. Within that broad bucket, the two largest holdings are still modest individually, which reduces single-issuer concentration at the top.

We also note that finance, cash and floating-rate instruments are smaller support sleeves rather than the main drivers. That means the portfolio is not broadly diversified across equity-style market-cap buckets; instead, it is structured around debt exposure and duration positioning.

Source data date: as of 28 Aug 2026

Who should invest

This fund is better aligned with investors who are comfortable with Medium Risk and who can stay invested long enough for the return pattern to play out. The 1-year, 3-year and 5-year numbers point to a scheme that has compounded reasonably well over time, but the shorter-term path is not perfectly smooth.

We think the better fit is a medium-to-long horizon rather than a very short holding period. The main trade-off is that you are accepting debt-market and credit-related ups and downs in exchange for a track record that has generally stayed ahead of the benchmark over multiple time frames. The portfolio structure also suggests that the fund is meant to work as a debt allocation, not as a fast-return vehicle.

Tax and exit load

Exit load applies as nil up to 15% of units. For the remaining units, the load is 2% on or before 1 year, 1% after 1 year but on or before 2 years, and nil after 2 years.

Source data date: as of 28 Aug 2026

Frequently asked questions

What is the current NAV of Aditya Birla SL Medium Term Fund Direct Growth Plan?

The current NAV is ₹47.9642 as of 28 Aug 2026.

What are the fund’s 1-year, 3-year and 5-year returns?

The fund’s returns are 9.45% over 1 year, 10.62% over 3 years and 12.76% over 5 years.

How does the fund compare with its benchmark?

It has beaten the benchmark over 1 year, 3 years and 5 years, while the 3-month figure is slightly below the benchmark. The longer-term pattern is stronger than the very recent one.

What is the minimum SIP amount?

The minimum SIP amount is ₹1,000.

Who manages the fund?

Sunaina da Cunha and Mohit Sharma manage the fund.

What kind of portfolio does the fund hold and what is the exit load?

The portfolio is led by corporate debt at 67.36% and government securities at 23.74%, so debt exposure is the core of the scheme. Exit load is nil up to 15% of units, then 2% on or before 1 year, 1% after 1 year but on or before 2 years, and nil after 2 years.

Bottom line

Aditya Birla SL Medium Term Fund Direct Growth Plan has a longer-term record that is stronger than its recent short-term tone, and it stays ahead of the benchmark across the main return horizons shown here. The fund carries Medium Risk, so it is not a low-volatility parking option. Its portfolio is dominated by corporate debt, with government securities as the next major anchor, which makes debt-market and credit conditions important for future behaviour. For investors seeking a debt fund with a steadier multi-year record and a medium-to-long horizon, it is a reasonable candidate to study.

Published on 31 August 2026 at 4:32 PM IST