360 ONE Liquid Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

360 ONE Liquid Fund Direct Growth Plan had a NAV of ₹2,173.9118 as of 10 Sep 2026, with scheme AUM of ₹628 Cr. Its 1-year, 3-year and 5-year returns are 6.31%, 6.77% and 6.17% respectively, and the fund sits in the Balanced Risk category.

Our view is that this is a liquid fund built for short holding periods and cash-management use rather than for chasing large return swings. The portfolio is anchored in high-quality money-market and near-cash instruments, which helps explain the steadier return profile around the benchmark rather than a meaningfully different pattern.

Quick facts

Particular	Details
NAV	₹2,173.9118 as of 10 Sep 2026
AUM	₹628 Cr
Expense Ratio	0.2%
Launch Date	13 Nov 2013
Risk Category	Balanced Risk
Benchmark	Nifty 50
Fund Category	Liquid
Exit Load	0.007% for Day 1, 0.0065% on Day 2, 0.0060% on Day 3, 0.0055% on Day 4, 0.0050% on Day 5, 0.0045% on Day 6, NIL on or after 7D
Fund Managers	Milan Mody

The fund is managed by Milan Mody.

Source data date: as of 10 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.54%	-4.06%
3M	1.61%	1.37%
1Y	6.31%	-7.31%
3Y	6.77%	6.07%
5Y	6.17%	5.91%

The near-term picture is more stable than the benchmark. Over 1 month, the fund returned 0.54% while the benchmark was negative at -4.06%, and over 3 months the fund posted 1.61% versus 1.37% for the benchmark. That gap suggests the portfolio has been better insulated from short-term market weakness.

The 1-year return of 6.31% also stands well ahead of the benchmark’s -7.31%. For a liquid fund, that comparison matters more as a sign of capital preservation than as a pursuit of high absolute return. It points to a return stream that has stayed positive through a difficult benchmark backdrop.

Longer-term performance is steady rather than flashy. The 3-year return of 6.77% is slightly ahead of the benchmark’s 6.07%, and the 5-year return of 6.17% is also a bit stronger than the benchmark’s 5.91%. Our read is that the fund has kept pace with, and modestly outpaced, the broad benchmark over time without taking on an aggressive profile.

That said, the short-term and longer-term patterns are not dramatically different: both point to consistency. The fund’s time path looks relatively smooth, with no sign of sharp drawdowns in the recent periods we reviewed, which is what investors generally want from a liquid allocation.

Source data date: as of 10 Sep 2026

Should you BUY or HOLD 360 ONE Liquid?

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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
360 ONE Liquid Fund Direct Growth Plan	6.31%	6.77%	6.17%
Axis Liquid Fund Direct Growth Plan	6.61%	7.02%	6.39%
Aditya Birla SL Liquid Fund Direct Growth Plan	6.61%	7.03%	6.41%
Sundaram Liquid Fund Direct Growth Plan	6.61%	7.02%	6.38%
JioBlackRock Liquid Fund Direct Growth Plan	6.60%	Data not available	Data not available
Edelweiss Liquid Fund Direct Growth Plan	6.58%	7.03%	6.38%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

On the recent 1-year view, the fund trails several peers by a narrow margin, with competitors clustered around 6.58% to 6.61% against this fund’s 6.31%. The difference is not large in absolute terms, but it does show that the peer group has been a touch stronger in the latest 12 months.

On the 3-year and 5-year horizons, the gap remains modest. The fund’s 6.77% and 6.17% are slightly below the stronger peer figures in the table, where available, but the differences stay contained. For investors comparing liquid funds primarily on consistency and cash-like behaviour, the pattern here is more important than any one short-term move.

Source data date: as of 10 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Indusind Bank Limited (22/09/2026) ** #	Certificate of Deposit	7.92%
NTPC Limited (09/10/2026) **	Commercial Paper	7.9%
HDFC Bank Limited (13/11/2026) #	Certificate of Deposit	7.85%
91 Days Tbill (MD 17/09/2026)	Treasury Bills	7.14%
Reverse Repo	Cash & Cash Equivalents and Net Assets	6.48%
182 Days Tbill (MD 03/09/2026)	Treasury Bills	4.13%
7.41% Indian Railway Finance Corporation Limited (15/10/2026) **	Corporate Debt	3.98%
Motilal Oswal Financial Services Limited (11/09/2026) **	Commercial Paper	3.97%
91 Days Tbill (MD 08/10/2026)	Treasury Bills	3.96%
91 Days Tbill (MD 15/10/2026)	Treasury Bills	3.95%

The largest holding is 7.92%, so no single position dominates the portfolio. The weight then steps down only gradually through the next few holdings, which suggests the fund is spreading exposure across several short-dated instruments rather than relying on one or two outsized bets.

By the tenth holding, the weight is 3.95%, which is less than half the size of the largest position. That drop is meaningful, but it is not abrupt enough to suggest a very concentrated book at the top end. The mix of certificates of deposit, commercial paper, treasury bills and reverse repo also points to a portfolio built for liquidity management.

The top 10 holdings together account for approximately 57.28% of the portfolio, while the scheme discloses 24 holdings in total. Our view is that this points to a fairly broad tail beyond the largest positions, even though the top slice still has the greater influence on day-to-day returns.

To see all holdings, visit the 360 ONE Liquid Fund Direct Growth Plan page

Source data date: as of 10 Sep 2026

Who should invest

This fund fits investors who want a liquid allocation with limited tolerance for sharp swings and a short investment horizon. The Balanced Risk tag and the portfolio’s short-dated, cash-like instruments make it suitable for parking money that may be needed soon, rather than for long-term wealth building.

The main trade-off is straightforward: you get steadier behaviour and benchmark-like returns, but not the possibility of large upside. Compared with peers, the recent and longer-term return profile is a touch softer, so the appeal lies more in consistency, liquidity orientation and capital preservation than in standing out on performance.

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 applies on very short holding periods and reduces quickly over the first week. The rule reads as 0.007% for Day 1, 0.0065% on Day 2, 0.0060% on Day 3, 0.0055% on Day 4, 0.0050% on Day 5, 0.0045% on Day 6, and NIL on or after 7D.

Source data date: as of 10 Sep 2026

Frequently asked questions

What is the current NAV of 360 ONE Liquid Fund Direct Growth Plan?
Its NAV is ₹2,173.9118 as of 10 Sep 2026.

What are the 1-year, 3-year and 5-year returns?
The fund’s returns are 6.31% over 1 year, 6.77% over 3 years and 6.17% over 5 years.

How has it performed against the benchmark?
It has been ahead of the benchmark across all listed periods. The gap is especially visible over 1 year, while the 3-year and 5-year differences are narrower.

How does it compare with peer liquid funds?
Its recent and longer-term returns are a little below several peer figures shown here, but the differences are modest. The peer group itself is tightly clustered, which makes small gaps more relevant than large ones.

Is there a minimum SIP amount shown?
No minimum SIP amount is shown here. The available details do not provide that figure.

Who manages the fund and what is the exit load?
Milan Mody manages the fund. The exit load starts at 0.007% on Day 1 and declines each day until it becomes nil on or after 7D.

Bottom line

360 ONE Liquid Fund Direct Growth Plan has shown a steadier pattern than its benchmark, with recent returns also holding up better than the broad market comparison. Over 3 years and 5 years, the fund stays close to the benchmark and only slightly ahead, which is consistent with a liquid strategy rather than a return-chasing one. Its Balanced Risk tag, short-dated money-market style portfolio and 24 disclosed holdings make it fit for investors who value liquidity and stability over aggressive growth.

Published on 11 September 2026 at 12:49 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.