Groww Multi Asset Allocation Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Groww Multi Asset Allocation Fund Direct Growth Plan is at a NAV of ₹10.2486 as of 16 Sep 2026, with an AUM of ₹389 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and it carries a High Risk tag. Our view is that this is still a very new multi-asset scheme, so the current picture is shaped more by its early portfolio construction and short performance history than by a mature return record.
The fund combines equity, gold and cash-like exposure, which can make it a useful diversifier, but the current return history is too short to judge stability across market cycles. For investors, the key question is whether they are comfortable with a High Risk fund that has a limited track record and a portfolio that already shows meaningful exposure to a few large positions.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹10.2486 as of 16 Sep 2026 |
| AUM | ₹389 Cr |
| Expense Ratio | 0.45% |
| Launch Date | 30 Sep 2025 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Hybrid |
| Exit Load | 1% on or before 30D, Nil after 30D |
| Fund Managers | Paras Matalia, Kaustubh Sule, Wilfred Gonsalves, Nikhil Satam |
The fund is managed by Paras Matalia, Kaustubh Sule, Wilfred Gonsalves and Nikhil Satam.
Source data date: as of 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -2.32% | -4.41% |
| 3M | -0.32% | -3.6% |
| 1Y | 0% | Data not available |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
In the short run, the fund has been less weak than the benchmark. The 1-month return is negative, but it held up better than Nifty 50 in the same period, and the same pattern is visible over 3 months. That tells us the scheme has recently absorbed market pressure somewhat better than the benchmark, even though the absolute return is still soft.
Because the fund launched only in September 2025, the longer-horizon return fields do not yet give a full cycle view. That limits what we can infer from the 1-year figure, which is flat. We would treat this as an early-stage performance profile rather than a settled one, especially for a hybrid fund that is meant to mix different asset classes rather than behave like a pure equity product.
The daily path also points to a choppy but not dramatic move. The short series shows mild pullbacks, brief recoveries and then another soft patch, which is consistent with a young portfolio still finding its shape. Our view is that this kind of movement is not unusual for a new multi-asset strategy, but it does mean investors should focus more on consistency over time than on a single short window.
Against the benchmark, the fund is ahead in both recent windows on a relative basis, even though the benchmark itself has been weaker in the same stretch. That creates an important nuance: relative resilience is a positive, but it is not the same as strong absolute compounding. For now, the main reading is that the scheme has not shown a sustained upward return pattern yet, and the evidence base is still building.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD Groww Multi Asset Allocation?
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 Groww Multi Asset Allocation? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Groww Multi Asset Allocation Fund Direct Growth Plan | 0% | Data not available | Data not available |
| 360 ONE Multi Asset Allocation Fund Direct Growth Plan | 18.54% | Data not available | Data not available |
| Quant Multi Asset Allocation Fund Direct Growth Plan | 14.8% | 21.38% | 19.38% |
| Kotak Multi Asset Allocation Fund Direct Growth Plan | 14.1% | Data not available | Data not available |
| Bandhan Multi Asset Allocation Fund Direct Growth Plan | 12.25% | Data not available | Data not available |
| DSP Multi Asset Allocation Fund Direct Growth Plan | 12.2% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. The current fund’s 1-year return is below the available peer figures, while its own 3-year and 5-year figures are not yet available. That makes the short-term comparison look clearly softer than the better-established peer records, especially where Quant Multi Asset Allocation Fund Direct Growth Plan shows complete multi-year numbers. At the same time, the peer set is uneven on longer horizons, so the available comparison says more about early relative performance than about a fully mature category picture.
Because the current scheme is newly launched, the peer gap is most visible in the 1-year window. The longer-horizon peer data that is available suggests that multi-asset strategies can compound well over time, but this fund has not yet built that evidence. In practical terms, the short-term comparison is weaker than the longer-term peer evidence that is available for some peers, which is exactly why patience matters with a fresh launch.
Source data date: as of 16 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Groww Gold ETF | Domestic Mutual Funds Units – Gold | 12.18% |
| TREPS 01-Sep-2026 | Cash & Cash Equivalents and Net Assets | 9.97% |
| Net Receivable/Payable | Cash & Cash Equivalents and Net Assets | 9.52% |
| ICICI Bank Limited | Bank | 4.01% |
| HDFC Bank Limited | Bank | 3.78% |
| Reliance Industries Limited | Crude Oil | 2.99% |
| Mahindra & Mahindra Limited | Automobile & Ancillaries | 2.94% |
| Bajaj Finance Limited | Finance | 1.97% |
| Bharti Airtel Limited | Telecom | 1.86% |
| Larsen & Toubro Limited | Infrastructure | 1.74% |
The largest holding, Groww Gold ETF, is 12.18%, which is meaningful but not dominant on its own. After that, the weights fall fairly quickly into a mix of cash-like lines, banks, industrials and other large-cap names. That pattern suggests the visible portfolio is not relying on a single equity bet, but the top few positions still have enough size to matter for short-term movements.
The drop from the first holding to the tenth is fairly steep, from 12.18% to 1.74%. That gap tells us the portfolio’s visible sleeve is layered, with the first few holdings likely to have greater influence than the smaller positions below them. It also shows that the fund is not equally spread across the top holdings list.
The top 10 holdings account for approximately 50.96% of the portfolio, and the scheme has 68 disclosed holdings in total. Our view is that this points to moderate concentration in the visible top slice, followed by a longer tail that is not shown here. For investors, that means the fund may blend diversification with a meaningful dependence on its larger positions.
To see all holdings, visit the Groww Multi Asset Allocation Fund Direct Growth Plan page
Source data date: as of 16 Sep 2026
Who should invest
This fund suits investors who can tolerate High Risk and who are prepared for a return journey that may be uneven in the early years. The 1-month and 3-month figures show relative resilience versus the benchmark, but the 1-year return is still flat and the fund is too young to show a full 3-year or 5-year record. That makes it more suitable for a longer horizon and for investors who value diversification across assets more than near-term consistency.
The main trade-off is that the portfolio can help spread risk across gold, cash-like instruments and equities, but the current return history does not yet prove how it will behave through a full market cycle. Investors who want a more established long-term track record may find the evidence base thin, while those comfortable with a fresh multi-asset structure may see the fund as a diversifying satellite holding rather than a core stability anchor.
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: 1% on or before 30 days; nil after 30 days.
Source data date: as of 16 Sep 2026
Frequently asked questions
What is the current NAV of Groww Multi Asset Allocation Fund Direct Growth Plan?
It is ₹10.2486 as of 16 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%.
How has the fund done versus Nifty 50 recently?
It has held up better than Nifty 50 over both the 1-month and 3-month periods, even though both periods were negative.
How does it compare with peer funds on available return data?
Its 1-year return is below the available peer figures, while some peers also have longer-horizon numbers that this fund does not yet have.
What is the minimum SIP amount?
There is no minimum SIP row stated here, so we are not treating a minimum SIP as disclosed in the article body.
Who manages the fund and what is the exit load?
The fund is managed by Paras Matalia, Kaustubh Sule, Wilfred Gonsalves and Nikhil Satam. The exit load is 1% on or before 30 days and nil after 30 days.
Bottom line
Groww Multi Asset Allocation Fund Direct Growth Plan is still in an early phase, so its short-term behaviour matters more than a long record that is not yet available. Recent returns have been softer in absolute terms, but they have been better than the benchmark in the latest windows. The portfolio also shows a meaningful position in gold alongside cash-like and equity holdings, which fits the idea of a multi-asset scheme. For investors who want a High Risk diversifier and can wait for the track record to mature, it is an interesting name to watch.
Published on 17 September 2026 at 11:29 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.