Franklin India Dynamic Asset Allocation Active FOFs Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 4, 2026
- Posted by: Harsh Piplani
- Category: Mutual Funds
Franklin India Dynamic Asset Allocation Active FOFs Direct Growth Plan currently has a NAV of ₹190.2921 as of 02 Sep 2026 and an AUM of ₹1,246 Cr. Its 1-year, 3-year and 5-year returns are 2.84%, 9.34% and 11.02% respectively, and the scheme is in the High Risk category.
Our view is that this is a fund for investors who can accept uneven shorter-term outcomes in exchange for a steadier longer-run profile. The benchmark has been weaker over the same longer windows, while the portfolio is built around a small number of underlying fund positions, which can keep the strategy focused but also makes the allocation more dependent on those holdings.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹190.2921 as of 02 Sep 2026 |
| AUM | ₹1,246 Cr |
| Expense Ratio | 0.49% |
| Launch Date | 01 Jan 2013 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Fund of Fund |
| Exit Load | Nil for 10% of units on or before 1Y and For remaining investment 1% on or before 1Y and Nil after 1Y |
| Fund Managers | Rajasa Kakulavarapu, Venkatesh Sanjeevi, Chandni Gupta |
The fund is managed by Rajasa Kakulavarapu, Venkatesh Sanjeevi and Chandni Gupta.
Source data date: as of 02 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -1.07% | -3.01% |
| 3M | 3.12% | 1.95% |
| 1Y | 2.84% | -4.4% |
| 3Y | 9.34% | 5.74% |
| 5Y | 11.02% | 6.27% |
The short-term picture is mixed. Over 1 month, the fund slipped, but it still held up better than the benchmark. Over 3 months, it recovered more strongly than the benchmark, which tells us the fund has been able to participate in rebounds even after a softer patch.
What matters more for a long-horizon investor is that the 3-year and 5-year returns remain ahead of the benchmark. That is a useful sign for a Fund of Fund structure because it suggests the portfolio has been able to compound more smoothly than the index over fuller market cycles, even though the journey has not been linear.
The 1-year return is modest at 2.84%, but it still stands above the benchmark’s -4.4%. That gap matters because it shows relative resilience during a period when the benchmark was negative. The pattern also shows that recent behaviour has not been as strong as the 3-year and 5-year picture, so the fund has not been a straight-line performer.
In our view, the return profile fits a strategy that aims to balance active allocation across underlying funds rather than chase a single market segment. The trade-off is that investors may see periods of softness even when the longer-run record remains more constructive than the benchmark.
Source data date: as of 02 Sep 2026
Should you BUY or HOLD Franklin India Dynamic Asset Allocation Active FOFs?
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 Franklin India Dynamic Asset Allocation Active FOFs? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Franklin India Dynamic Asset Allocation Active FOFs Direct Growth Plan | 2.84% | 9.34% | 11.02% |
| SBI Silver ETF FOF Direct Growth Plan | 85.9% | Data not available | Data not available |
| Kotak Silver ETF FoF Direct Growth Plan | 84.94% | 43.28% | Data not available |
| Axis Silver FoF Direct Growth Plan | 84.31% | 43.7% | Data not available |
| Zerodha Silver ETF FoF Direct Growth Plan | 84.1% | Data not available | Data not available |
| Aditya Birla SL Silver ETF FOF Direct Growth Plan | 83.47% | 43.31% | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On a 1-year basis, the fund trails the peer set in absolute return terms, while the peer group is dominated by silver-focused FOFs with much stronger recent numbers. That makes the current fund look very different from the cluster of peers listed here, even though the comparison is only about observed returns, not positioning or style labels.
The longer-term view is more balanced. Among peers with available 3-year numbers, the fund’s 9.34% is below the 40% plus figures shown by the silver FOFs, but those peers do not provide complete 5-year comparables here. So the shorter-term gap is large, while the fuller-horizon picture still needs caution because the peer set does not offer a like-for-like 5-year comparison for most funds.
That split matters: the fund’s recent return looks materially weaker than the peer figures shown, but its own 3-year and 5-year numbers remain steady enough to keep the longer-term story distinct from the sharp one-year numbers of the silver funds.
Source data date: as of 02 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Franklin India Flexi Cap Fund-Direct Growth Plan (Formerly Known As Franklin India Equity Fund) | Domestic Mutual Funds Units | 59.61% |
| Franklin India Corporate Debt Fund – Direct Plan – Growth | Domestic Mutual Funds Units | 20.33% |
| ICICI Prudential Short Term Fund Direct – Growth Plan | Domestic Mutual Funds Units | 10% |
| Franklin India Banking & PSU Debt Fund – Direct Plan – Growth | Domestic Mutual Funds Units | 7.35% |
| Call, Cash & Other Assets | Cash & Cash Equivalents and Net Assets | 2.7% |
The single largest holding is Franklin India Flexi Cap Fund-Direct Growth Plan (Formerly Known As Franklin India Equity Fund) at 59.61%, so the portfolio’s direction is likely to be influenced strongly by that underlying fund. The next largest holding falls sharply to 20.33%, which shows that the allocation is not spread evenly across similar-sized positions.
The decline from 20.33% to 10% and then to 7.35% suggests a pronounced top-heavy structure. That may help the fund stay focused, but it also means changes in a few underlying sleeves could matter more than they would in a more evenly spread allocation.
All five disclosed holdings add up to 99.99%, and that means the fund is built almost entirely from the stated positions rather than a broad, long tail. In practical terms, the disclosed portfolio looks concentrated across just five holding lines, so the combined behaviour of those positions could have greater influence on outcomes than a wider multi-holding structure would.
Source data date: as of 02 Sep 2026
Who should invest
This fund suits investors who are comfortable with High Risk exposure and who can stay invested through uneven shorter-term moves. The 1-year return is positive but subdued, while the 3-year and 5-year returns are meaningfully better than the benchmark, so the strategy looks more suitable for a medium- to long-term horizon than for short holding periods.
The main trade-off is between a comparatively steadier longer-run pattern and the possibility of short-term underperformance. The portfolio is also concentrated in a small number of underlying positions, which can increase the impact of each sleeve. Investors who want a fund structure with clearer long-horizon behaviour and can accept a more active return path may find the profile relevant.
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 for 10% of units on or before 1Y and 1% for the remaining investment on or before 1Y.
- No exit load after the holding period.
Source data date: as of 02 Sep 2026
Frequently asked questions
What is the current NAV of Franklin India Dynamic Asset Allocation Active FOFs Direct Growth Plan?
The current NAV is ₹190.2921 as of 02 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 2.84% for 1 year, 9.34% for 3 years and 11.02% for 5 years.
How does the fund compare with its benchmark?
It is ahead of the Nifty 50 over 1 year, 3 years and 5 years. The benchmark return is -4.4% over 1 year, 5.74% over 3 years and 6.27% over 5 years.
How does it compare with the peer funds listed here?
Its 1-year return is much lower than the silver-focused peer funds shown here, while its 3-year return is also below the peers with available 3-year figures. The comparison looks very different because the listed peers have much stronger recent return numbers.
What is the minimum SIP amount?
The minimum SIP amount is ₹500.
Who manages the fund and what is the exit load?
The fund is managed by Rajasa Kakulavarapu, Venkatesh Sanjeevi and Chandni Gupta. The exit load is nil for 10% of units on or before 1 year, 1% for the remaining investment on or before 1 year, and nil after 1 year.
Bottom line
Franklin India Dynamic Asset Allocation Active FOFs Direct Growth Plan has a softer recent return profile than its longer-run record, but its 3-year and 5-year numbers are still ahead of the benchmark. The fund is High Risk and the disclosed portfolio is highly concentrated in a few underlying positions, so it is better read as a focused multi-asset-style allocation than as a broad, diversified spread. For investors who can stay patient through short-term swings, the longer-run pattern is the more important part of the story.
Published on 4 September 2026 at 11:28 AM 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.
