Aditya Birla SL Money Market Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- August 31, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Aditya Birla SL Money Market Fund Direct Growth Plan has a NAV of ₹405.5847 as of 08 Sep 2026 and manages ₹29,876 Cr of scheme assets. Its 1-year, 3-year and 5-year returns are 6.69%, 7.47% and 6.76%, and the scheme carries a Medium Risk label. Our view is that it suits conservative debt investors who want a money market approach with a steady return pattern rather than sharp price swings.
The portfolio is built around short-dated bank certificates of deposit, government securities and treasury instruments, which helps explain the lower-volatility profile. The return record is stable rather than aggressive, and the longer track record is slightly ahead of the benchmark in the periods we can compare.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹405.5847 as of 08 Sep 2026 |
| AUM | ₹29,876 Cr |
| Expense Ratio | 0.22% |
| Launch Date | 01 Jan 2013 |
| Min SIP | ₹1,000 |
| Risk Category | Medium Risk |
| Benchmark | Nifty 50 |
| Fund Category | Debt |
| Exit Load | No exit load after holding period |
| Fund Managers | Kaustubh Gupta, Mohit Sharma, Anuj Jain |
The fund is managed by Kaustubh Gupta, Mohit Sharma and Anuj Jain.
Source data date: as of 08 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.65% | -3.86% |
| 3M | 2.12% | 1.69% |
| 1Y | 6.69% | -5.72% |
| 3Y | 7.47% | 6.3% |
| 5Y | 6.76% | 6.05% |
The short-term pattern is steady. Over 1 month and 3 months, the fund stayed in positive territory while the benchmark was weaker in 1 month and modestly positive over 3 months, which tells us the scheme has held up well through recent market moves.
The 1-year number is more striking because the fund stayed positive while the benchmark was negative. That gap is helpful for conservative investors because it suggests the portfolio has offered better downside control than the benchmark in a choppier stretch.
Over 3 years and 5 years, the return path remains consistent rather than dramatic. The fund is ahead of the benchmark in both periods, but not by a wide margin, so our reading is that the scheme has delivered a dependable money-market style outcome instead of a high-octane return profile.
The time pattern also matters. The return path shows a few soft patches, but it does not break into prolonged weakness. That supports the idea of a fund designed for liquidity-oriented investors who still want some income potential with limited daily volatility.
Source data date: as of 08 Sep 2026
Should you BUY or HOLD Aditya Birla SL Money Market?
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 Money Market? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Aditya Birla SL Money Market Fund Direct Growth Plan | 6.69% | 7.47% | 6.76% |
| Union Money Market Fund Direct Growth Plan | 6.91% | 7.27% | 6.49% |
| Bank of India Money Market Fund Direct Growth Plan | 6.78% | Data not available | Data not available |
| Tata Money Market Fund Direct Growth Plan | 6.78% | 7.58% | 6.85% |
| LIC MF Money Market Fund Direct Growth Plan | 6.77% | 6.84% | Data not available |
| Bandhan Money Market Fund Direct Growth Plan | 6.76% | 7.46% | 6.67% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
The fund’s 1-year return is slightly below the strongest peer figures in this set, but it is still clustered tightly with the rest of the group. That tells us the recent performance gap is small and mainly about fine differences in income capture rather than a sharp change in style.
On 3-year returns, the fund is ahead of the peers with available data except for Tata Money Market Fund Direct Growth Plan, while on 5-year returns it remains competitive and sits above Union Money Market Fund Direct Growth Plan and Bandhan Money Market Fund Direct Growth Plan. The short-term comparison and the longer-term comparison therefore tell a similar story: the fund has been steady, and its edge comes from consistency rather than a one-off recent surge.
Source data date: as of 08 Sep 2026
Want to know more? Log in to Univest for more mutual fund insights.
Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Indusind Bank Ltd. (29/01/2027) **# | Certificate of Deposit | 4.72% |
| The Jammu & Kashmir Bank Ltd. (22/02/2027) **# | Certificate of Deposit | 3.23% |
| Axis Bank Ltd. (17/12/2026) # | Certificate of Deposit | 3.12% |
| The Federal Bank Ltd. (18/02/2027) **# | Certificate of Deposit | 3.08% |
| State Government Securities (05/02/2027) | Government Securities | 2.66% |
| Indusind Bank Ltd. (11/12/2026) **# | Certificate of Deposit | 2.61% |
| Yes Bank Ltd. (05/03/2027) **# | Certificate of Deposit | 2.51% |
| Sundaram Finance Ltd. (12/03/2027) ** | Commercial Paper | 1.69% |
| 91 Day T-Bill 22.10.26 | Treasury Bills | 1.66% |
| The Federal Bank Ltd. (29/01/2027) **# | Certificate of Deposit | 1.63% |
The top 10 holdings account for approximately 26.91% of the portfolio.
To see all holdings, visit the Aditya Birla SL Money Market Fund Direct Growth Plan page
The largest holding is 4.72%, so the scheme is not relying on a single position for most of its return profile. The drop from the first holding to the tenth is to 1.63%, which is a moderate taper and points to a fairly diversified set of short-duration instruments rather than a very concentrated book.
The mix is led by certificates of deposit, with government securities, treasury bills and commercial paper also present. That structure may help keep the fund’s behaviour relatively stable, while still leaving the return outcome sensitive to short-term rate movements and credit spread conditions.
Because the disclosed top 10 holdings add up to 26.91% and the scheme has 73 disclosed holding rows, the visible book looks spread across a long tail rather than concentrated only in a few positions. Our view is that this layout may reduce reliance on any one issuer, although the bank CD exposure means credit quality remains an important part of the overall picture.
Source data date: as of 08 Sep 2026
Who should invest
This fund is better suited to investors with a conservative debt allocation mindset and a medium- to low-volatility preference. The Medium Risk label and the portfolio’s short-dated debt mix suggest it is built for those who want a steady money-market style holding rather than a fund that will chase large swings in returns.
The return pattern supports a longer holding horizon of at least several months to a year, especially if the aim is to smooth cash deployment or keep money in a relatively stable debt instrument. The main trade-off is that the fund’s steadiness may come with only moderate upside, so it is more about consistency and liquidity-oriented debt exposure than about stretching for high returns.
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 exit load.
Source data date: as of 08 Sep 2026
Frequently asked questions
What is the current NAV of Aditya Birla SL Money Market Fund Direct Growth Plan?
The current NAV is ₹405.5847 as of 08 Sep 2026. That level is paired with a scheme AUM of ₹29,876 Cr.
What are the 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 6.69%, its 3-year return is 7.47%, and its 5-year return is 6.76%. The pattern is steady rather than sharp.
How has the fund done versus the benchmark?
It has outpaced the benchmark in every comparison period shown here. The gap is especially visible over 1 year, where the fund stayed positive while the benchmark was negative.
How does it compare with other money market funds on the same horizon?
Its 1-year return is close to the peer group and its 3-year and 5-year figures remain competitive. The comparison suggests consistency more than a dramatic performance edge.
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 Kaustubh Gupta, Mohit Sharma and Anuj Jain. The exit load is nil.
Bottom line
Aditya Birla SL Money Market Fund Direct Growth Plan has shown a steadier long-term pattern than its recent one-year headline might suggest, with returns that stay competitive across 1-year, 3-year and 5-year horizons. It compares well with the benchmark and remains broadly in line with the peer set on available return data. The risk label is Medium Risk, and the portfolio is anchored in short-dated bank paper, government securities and treasury bills. That combination points to a fund for investors who value stability and a measured debt profile over aggressive return chasing.
Published on 9 September 2026 at 2:47 PM IST
Explore mutual funds with Univest
Review mutual fund data, compare performance and explore fund insights on Univest.
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.