Aditya Birla SL Medium Term Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- August 31, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Aditya Birla SL Medium Term Fund Direct Growth Plan has a NAV of ₹48.1013 as of 08 Sep 2026 and a scheme AUM of ₹3,318 Cr. Its 1-year, 3-year and 5-year returns are 9.47%, 10.65% and 12.76%, and the risk category is Medium Risk. Our view is that the fund has shown a steadier long-term pattern than the benchmark, while the shorter-term profile is still consistent with a medium-risk debt scheme rather than a low-volatility parking option.
The portfolio is anchored by government securities and corporate debt, with a meaningful cash and equivalent sleeve. That mix may help explain why the fund has stayed reasonably stable through periods when the benchmark has been uneven, even if the return path still shows some short-term variation.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹48.1013 as of 08 Sep 2026 |
| AUM | ₹3,318 Cr |
| Expense Ratio | 0.82% |
| Launch Date | 01 Jan 2013 |
| Min SIP | ₹1,000 |
| Risk Category | Medium Risk |
| Benchmark | Nifty 50 |
| Fund Category | Debt |
| Exit Load | Nil upto 15% of units, For remaining units 2% on or before 1Y, 1 % after 1Y but on or before 2Y, Nil after 2Y |
| Fund Managers | Sunaina da Cunha, Mohit Sharma |
The fund is managed by Sunaina da Cunha and Mohit Sharma.
Source data date: as of 08 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.12% | -3.86% |
| 3M | 2.13% | 1.69% |
| 1Y | 9.47% | -5.72% |
| 3Y | 10.65% | 6.3% |
| 5Y | 12.76% | 6.05% |
The short-term pattern is constructive. Over 1 month, the fund stayed slightly positive while the benchmark was negative, and over 3 months it continued to edge ahead. That tells us the scheme has held up better than the benchmark in the most recent stretch, even though the path has not been perfectly linear.
The 1-year figure is the clearest contrast. The fund returned 9.47% while the benchmark declined 5.72%, which suggests the scheme has been much better positioned over the latest full-year period. For a medium-term debt fund, that kind of gap matters because it shows resilience when the broader reference index was weak.
The longer horizon is also supportive. The 3-year return of 10.65% and 5-year return of 12.76% both sit above the benchmark’s 6.3% and 6.05% over the same periods. Our view is that the fund’s compounding pattern has been more stable than the benchmark’s, with the longer-term numbers pointing to consistency rather than a single strong phase.
At the same time, the time pattern is not perfectly smooth, so investors should read the fund as a medium-risk debt strategy with some variation in the journey. The main takeaway is that recent weakness in the benchmark has not translated into weakness here, and the multi-year record remains firmer than the shorter window alone might suggest.
Source data date: as of 08 Sep 2026
Should you BUY or HOLD Aditya Birla SL Medium Term?
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 Aditya Birla SL Medium Term? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Aditya Birla SL Medium Term Fund Direct Growth Plan | 9.47% | 10.65% | 12.76% |
| ICICI Pru Medium Term Fund Direct Growth Plan | 7.96% | 8.56% | 7.43% |
| Kotak Medium Term Fund Direct Growth Plan | 7.76% | 9.08% | 7.47% |
| SBI Medium Term Fund Direct Growth Plan | 7.17% | 7.93% | 6.89% |
| Axis Medium Term Fund Direct Growth Plan | 7.15% | 8.47% | 7.39% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On 1-year performance, the fund is ahead of the peer set listed here, and the gap is visible against each comparable scheme in the table. That also holds over 3 years and 5 years, where the fund’s numbers are stronger than the available peer figures shown.
The more useful reading is that the short-term and longer-term comparisons point in the same direction. Recent returns have been better, but the advantage has not come at the cost of weaker multi-year numbers; the 3-year and 5-year records remain ahead of the peer figures presented here. For an investor, that combination suggests a fund that has stayed competitive both recently and over a fuller cycle.
Source data date: as of 08 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Government of India (11/05/2036) | Government Securities | 12.94% |
| 8.25% Bajaj Housing Finance Ltd. (27/05/2031) | Corporate Debt | 4.55% |
| 7.27% National Bank for Agriculture and Rural Development (23/02/2029) ** | Corporate Debt | 3.73% |
| TREPS | Cash & Cash Equivalents and Net Assets | 3.45% |
| 6.66% National Bank for Agriculture and Rural Development (12/10/2028) ** | Corporate Debt | 3.4% |
| 9.25% Hinduja Leyland Finance Ltd. (09/07/2031) | Corporate Debt | 3.29% |
| 8.66% Cholamandalam Investment & Finance Co. Ltd. (23/02/2033) ** | Corporate Debt | 3.12% |
| 9.90% Oxyzo Financial Services Pvt. Ltd. (13/03/2029) ** | Corporate Debt | 2.67% |
| 5.00% GMR Airports Ltd. (13/02/2027) ** | Corporate Debt | 2.55% |
| JTPM Metal Traders Ltd. (29/09/2028) (ZCB) ** | Corporate Debt | 2.49% |
The top 10 holdings account for approximately 42.19% of the portfolio.
To see all holdings, visit the Aditya Birla SL Medium Term Fund Direct Growth Plan page
The largest holding, Government of India (11/05/2036), carries a 12.94% weight, so it is likely to have greater influence on the fund than any other single position. After that, the weights step down into the 4% range and then cluster around the 2.5% to 3.7% area, which suggests the portfolio is not dependent on only one or two large issuers.
Even so, the top slice is meaningful. The displayed holdings sum to 42.19%, and the fund discloses 52 holdings in total, so the visible list points to a structure with a substantial leading group and a longer tail beyond it. That balance may help reduce single-position dependence while still leaving the bigger government and credit exposures important for overall outcomes.
From an investor’s perspective, the mix of government securities, corporate debt and cash equivalents suggests a portfolio that may aim for steadier income-oriented behaviour rather than aggressive return chasing. The presence of several borrower names across the displayed holdings also indicates that weight is spread across multiple instruments instead of being concentrated in just a few line items.
Source data date: as of 08 Sep 2026
Who should invest
This fund fits investors who can tolerate medium risk and are comfortable with debt-market variation over time. The 1-year, 3-year and 5-year numbers show better-than-benchmark behaviour, but the path is not perfectly smooth, so it is better suited to someone looking beyond very short holding periods.
The main trade-off is between stability and return potential. The portfolio’s mix of government securities, corporate debt and cash equivalents may support relatively steadier progress, but investors still need to accept that returns can move around, especially over shorter windows.
For investors comparing medium-term debt options, the fund looks more appropriate for a multi-year horizon than for parking money only for a few months. The stronger long-term pattern versus the benchmark is the key positive, while the medium-risk label reminds us that this is not a zero-fluctuation product.
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 15% of units.
- For the remaining units, 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 08 Sep 2026
Frequently asked questions
What is the current NAV of Aditya Birla SL Medium Term Fund Direct Growth Plan?
The current NAV is ₹48.1013 as of 08 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The returns are 9.47% over 1 year, 10.65% over 3 years and 12.76% over 5 years.
How has the fund performed versus the benchmark?
It has outperformed the benchmark across 1 month, 3 months, 1 year, 3 years and 5 years. The widest gap is in the 1-year period, where the benchmark is negative and the fund remains positive.
How does it compare with the peer funds listed here?
Its 1-year, 3-year and 5-year returns are stronger than the peer funds shown in the comparison table. The pattern is consistent across both shorter and longer periods.
What is the minimum SIP amount?
The minimum SIP amount is ₹1,000.
Who manages the fund and what is the exit load?
The fund is managed by Sunaina da Cunha and Mohit Sharma. The exit load is nil up to 15% of units, and for the remaining units it is 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 stronger long-term record than its benchmark, and the recent return pattern also stays comfortably ahead. Against the peer funds listed here, the fund’s 1-year, 3-year and 5-year figures are consistently better, which gives the scheme a clear edge on available return data. The portfolio is led by government securities and corporate debt, so it may suit investors seeking medium-risk debt exposure with a multi-year horizon rather than very short-term stability.
Published on 9 September 2026 at 4:13 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.