Aditya Birla SL Multi-Asset Passive FoF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- August 31, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Aditya Birla SL Multi-Asset Passive FoF Direct Growth Plan currently has an NAV of ₹17.4275 as of 16 Sep 2026 and an AUM of ₹35 Cr. Its 1-year, 3-year and 5-year returns are 8.58%, 14.80% and 0%, and the scheme is tagged High Risk. In our view, the fund suits investors who can accept pronounced swings in pursuit of multi-asset diversification, but its recent softness means the outcome has not been smooth.
The portfolio is built around passive exposure to equity, gold and debt-linked building blocks, which gives it a diversified feel even though the fund itself has seen uneven short-term movement. That mix can help reduce dependence on one market pocket, but the fund’s return pattern still calls for a longer horizon and comfort with volatility.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹17.4275 as of 16 Sep 2026 |
| AUM | ₹35 Cr |
| Expense Ratio | 0.28% |
| Launch Date | 17 Oct 2022 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | 0.50% on or before 15D, Nil after 15D |
| Fund Managers | Kartikeya Singh |
The fund is managed by Kartikeya Singh.
Source data date: as of 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.34% | -4.41% |
| 3M | 0.32% | -3.60% |
| 1Y | 8.58% | -7.76% |
| 3Y | 14.80% | 5.74% |
| 5Y | Data not available | Data not available |
The most recent numbers show a mixed picture. Over 1 month, the fund declined, but it still held up a little better than the benchmark in a falling market. Over 3 months, it moved back into positive territory while the benchmark stayed negative, which suggests the structure has been able to cushion part of the weakness seen in the market backdrop.
The 1-year result is more striking because the fund delivered a positive return while the benchmark was negative. That tells us the portfolio mix has helped it avoid the benchmark’s one-way weakness over the last year. The 3-year figure also stays comfortably ahead of the benchmark, so the longer run has been stronger than the market reference used here.
At the same time, the path has not been steady. The one-year trend includes a clear rise and later pullback, and the 3-year trend shows a meaningful advance followed by periods of giveback. Our view is that this is consistent with a multi-asset passive structure that may absorb shocks better than a single-asset equity sleeve, but it can still be volatile when risk sentiment changes.
There is no 5-year return history for this fund yet, so the longer record is still incomplete. That makes the available 1-year and 3-year outcomes more important, and they point to better medium-term behaviour than the benchmark, even if short-term momentum has weakened recently.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD Aditya Birla SL Multi-Asset Passive FoF?
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 Multi-Asset Passive FoF? 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 |
|---|---|---|---|
| Aditya Birla SL Multi-Asset Passive FoF Direct Growth Plan | 8.58% | 14.80% | Data not available |
| Groww Multicap Fund Direct Growth Plan | 14.94% | Data not available | Data not available |
| TRUSTMF Multi Cap Fund Direct Growth Plan | 14.56% | Data not available | Data not available |
| Mahindra Manulife Multi Cap Fund Direct Growth Plan | 11.14% | 16.60% | 15.58% |
| Bank of India Multi Cap Fund Direct Growth Plan | 10.47% | 16.74% | Data not available |
| ITI Multi Cap Fund Direct Growth Plan | 9.07% | 15.96% | 13.64% |
The fund’s 1-year return is below the better-performing peer figures in this set, although it still sits above the benchmark’s 1-year result. That means the fund has not kept pace with the strongest peer outcomes over the last year, even though it has handled the benchmark comparison better than the market reference.
On the longer view, the fund’s 3-year return is competitive, but it trails the strongest 3-year figures shown by the peer funds with available history. The story is therefore split: recent performance is softer than the more aggressive peer outcomes, while the medium-term record is still respectable. For investors comparing multi-cap-style return profiles, this fund looks more balanced than the quickest climbers, but less forceful than the peers with stronger 3-year tracks.
Source data date: as of 16 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Aditya Birla Sun Life Nifty Smallcap 50 Index Fund – Direct Plan – Growth | Domestic Mutual Funds Units | 13.71% |
| Nippon India ETF Gold Bees | Domestic Mutual Funds Units – Gold | 13.25% |
| Aditya Birla Sun Life Nifty Midcap 150 Index Fund – Direct Plan – Growth | Domestic Mutual Funds Units | 13.05% |
| Aditya Birla Sun Life Nifty Next 50 Index Fund – Direct Plan – Growth | Domestic Mutual Funds Units | 10.82% |
| Aditya Birla Sun Life Nifty Healthcare ETF – Regular Plan – Growth | Domestic Mutual Funds Units | 7.76% |
| Kotak Nifty ETF Open Ended | Domestic Mutual Funds Units | 7.17% |
| Nippon India ETF Nifty India Consumption | Domestic Mutual Funds Units | 6.72% |
| Absl CRISIL 10 Year Gilt ETF | Domestic Mutual Funds Units | 6.5% |
| Aditya Birla Sun Life Nifty Bank ETF | Domestic Mutual Funds Units | 6.28% |
| Aditya Birla Sun Life Nifty India Defence Index Fund – Direct Plan – Growth | Domestic Mutual Funds Units | 5.24% |
The largest holding is 13.71%, so no single position dominates the fund on its own. The gap from the first holding to the tenth is about 8.47 percentage points, which shows that the allocations step down in a fairly measured way rather than collapsing sharply after the top line item.
The displayed top 10 holdings together account for approximately 90.5% of the portfolio, and the full disclosure includes 13 holdings. That tells us the fund is fairly concentrated in its visible building blocks, even though those building blocks themselves span small-cap equity, mid-cap equity, large-cap equity, gold and gilt exposure through passive funds and ETFs.
Our view is that this structure may spread the impact of any one market segment, because the portfolio does not rely on a single asset type. At the same time, the heavy weight of the top holdings means the larger positions are likely to have greater influence on returns than the smaller tail, so the fund may still move meaningfully when one of those key sleeves performs differently.
To see all holdings, visit the Aditya Birla SL Multi-Asset Passive FoF Direct Growth Plan page
Source data date: as of 16 Sep 2026
Who should invest
This fund fits investors who can tolerate High Risk and are comfortable with a portfolio that may move around more than a plain equity index fund. The 1-year and 3-year results show a better run than the benchmark, but the latest month was weak, so the experience can still be uneven.
It makes more sense for a medium-to-long horizon rather than a short holding period, because the multi-asset mix needs time to work through different market phases. The trade-off is that the diversification may soften some shocks, but it does not remove volatility, and the fund’s return path has already shown that short-term drawdowns can still happen.
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: 0.50% on or before 15D, Nil after 15D.
Source data date: as of 16 Sep 2026
Frequently asked questions
What is the current NAV of Aditya Birla SL Multi-Asset Passive FoF Direct Growth Plan?
The current NAV is ₹17.4275 as of 16 Sep 2026.
What are the 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 8.58%, the 3-year return is 14.80%, and the 5-year return is Data not available.
How does the fund compare with the benchmark?
It has outperformed the benchmark over 1 year and 3 years. The 1-month and 3-month periods also show better resilience than the benchmark, even though both were choppy.
How does it compare with peer funds on return data?
Its 1-year return is below the stronger peer figures shown here, while its 3-year return remains competitive among peers with available history. The short-term and medium-term comparisons do not tell the same story.
Is there a minimum SIP amount?
The fund allows SIPs, but a minimum SIP amount is not stated in the available details.
What are the key portfolio and exit-load points?
The biggest holding is Aditya Birla Sun Life Nifty Smallcap 50 Index Fund – Direct Plan – Growth at 13.71%, and the top 10 holdings account for approximately 90.5% of the portfolio. The exit load is 0.50% on or before 15 days and nil after 15 days.
Bottom line
Aditya Birla SL Multi-Asset Passive FoF Direct Growth Plan has shown a better medium-term outcome than the benchmark, but its latest month was weak and its 1-year record is not as strong as the better peer figures in this set. The fund carries High Risk and depends on a concentrated set of passive sleeves across equity, gold and debt-linked exposures. That makes it a reasonable fit only for investors who are comfortable with volatility and want a diversified, multi-asset structure over a longer horizon.
Published on 17 September 2026 at 5:06 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.