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

Updated: 31 Aug 2026 • 2:24 pm

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

360 ONE Liquid Fund Direct Growth Plan is a liquid fund with a current NAV of ₹2,168.8414 as of 30 Aug 2026 and a scheme AUM of ₹572 Cr. Its 1-year, 3-year and 5-year returns are 6.2362%, 6.7598% and 6.14%, and the fund sits in the Balanced Risk category.

Our view is that this is a short-duration cash-management style fund with steady but moderate compounding, rather than a return-chasing option. The portfolio is built mainly from certificate of deposit, commercial paper and treasury bill exposure, which supports stability, but the 1-year return has been softer than the benchmark and several peers even as the longer record remains orderly.

Table of Contents

Quick facts

Metric	Value
NAV	₹2,168.8414
AUM	₹572 Cr
Expense Ratio	0.2%
Launch Date	13 November 2013
Min SIP	₹1,000
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 30 Aug 2026

Performance

Period	Fund return	Benchmark return
1M	0.51%	-0.85%
3M	1.6%	3.39%
1Y	6.24%	-2.29%
3Y	6.76%	6.4%
5Y	6.14%	7.13%

The short-term pattern is mixed. The 1-month figure is positive, but the 3-month return is softer than the benchmark, so recent behaviour has not been uniformly strong. That is consistent with a liquid fund that can move in a narrow range, rather than a product that tries to win every short window.

At the 1-year horizon, the fund looks much better than the benchmark because the benchmark’s 1-year return is negative while the fund stayed in positive territory. That tells us the fund has preserved a steadier return path over the last year, even if it has not produced standout upside.

The 3-year record is close to the benchmark, with the fund slightly ahead. Over 5 years, however, the benchmark has outpaced the fund. Our reading is that the scheme has delivered a steady long-run result, but the compounding rate has been modest rather than aggressive.

The time pattern also suggests a relatively controlled return profile. We see periods of small up and down movements rather than sharp swings, which fits a liquid fund’s role. For investors, that usually matters more than headline highs because the fund is meant to hold value and generate smooth accrual.

Source data date: as of 30 Aug 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.

Already holding 360 ONE Liquid? Thinking of investing now?

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Peer comparison

Fund	1Y return	3Y return	5Y return
360 ONE Liquid Fund Direct Growth Plan	6.24%	6.76%	6.14%
Axis Liquid Fund Direct Growth Plan	6.5461%	7.0166%	6.3633%
Sundaram Liquid Fund Direct Growth Plan	6.5457%	7.0131%	6.3489%
Aditya Birla SL Liquid Fund Direct Growth Plan	6.5446%	7.0212%	6.3762%
JioBlackRock Liquid Fund Direct Growth Plan	6.5365%	Data not available	Data not available
DSP Liquid Fund Direct Growth Plan	6.5156%	6.9949%	6.3346%

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

On 1-year return, the fund trails the better-performing peer set by a small margin, though the gap is not large. Several peers are clustered around the mid-6% range, so the difference is more about consistency than about a wide separation.

Over 3 years, the fund is broadly in the same band as the established peers, but it sits a little below the leading figures in this group. The 5-year picture is similar: the fund is close to the group, yet a few peers have done slightly better on long-run compounding.

That makes the comparison a split story. Recent performance is respectable, but the longer record shows that some peers have compounded a little faster. For an investor, the question is less about dramatic outperformance and more about whether the fund’s steadier profile is worth accepting slightly lower return capture.

Source data date: as of 30 Aug 2026

Portfolio: where your money goes

Market-cap bucket	Weight
Large cap	0%
Mid cap	0%
Small cap	0%
Other cap	100%

Sector	Weight	Top holdings
CERTIFICATE OF DEPOSIT	46.38%	INDUSIND BANK LIMITED (22/06/2026) # — 1.56%; THE FEDERAL BANK LIMITED (15/09/2026) # — 1.29%
COMMERCIAL PAPER	27.01%	GODREJ INDUSTRIES LIMITED (25/03/2026) — 1.25%; GODREJ CONSUMER PRODUCTS LIMITED (24/03/2026) — 1.25%
TREASURY BILLS	19.56%	182 DAYS TBILL (MD 01/01/2026) — 1.64%; 182 DAYS TBILL (MD 27/08/2026) — 1.52%
CASH & CASH EQUIVALENTS AND NET ASSETS	3.83%	REVERSE REPO — 3.08%; TREPS — 0.82%
CORPORATE DEBT	2.51%	7.98% SUNDARAM HOME FINANCE LIMITED (04/09/2026) ** — 0.78%

The portfolio is entirely in the other-cap bucket, which is what we would expect for a liquid fund that focuses on money-market and debt instruments rather than equity exposure. That structure usually supports a stable return pattern and keeps the fund close to its cash-management objective.

Among sectors, certificate of deposit is the largest allocation at 46.38%, and it is materially higher than commercial paper at 27.01% and treasury bills at 19.56%. Our reading is that CD exposure is likely to have the greatest influence on how the fund behaves, while treasury bills and commercial paper provide additional spread across short-dated instruments.

Cash and cash equivalents at 3.83% and corporate debt at 2.51% are relatively small in the mix. That keeps the portfolio anchored in short-duration credit and government-linked instruments, with limited room for equity-like volatility. The result is a portfolio profile that may appeal to investors who value liquidity and controlled fluctuation over higher upside.

Source data date: as of 30 Aug 2026

Who should invest

This fund fits investors who are comfortable with a low-volatility liquid-fund profile and want a place for short-to-medium parking of money rather than a growth-led equity substitute. The Balanced Risk label and the portfolio mix suggest a preference for stability, but the return pattern also shows that the fund has not consistently outpaced the benchmark over longer windows.

The trade-off is straightforward: steadier behaviour and liquidity on one side, while accepting modest return differences versus some peers and the benchmark on the other. The 1-year record has been better than the benchmark, but the 5-year result shows that long-run compounding has been moderate. That makes it more suitable for investors who value predictability and short holding periods or a temporary parking option.

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

0.007% 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 7 days.

Source data date: as of 30 Aug 2026

Frequently asked questions

What is the current NAV of 360 ONE Liquid Fund Direct Growth Plan?

The current NAV is ₹2,168.8414 as of 30 Aug 2026.

What are the 1-year, 3-year and 5-year returns?

The fund’s 1-year, 3-year and 5-year returns are 6.24%, 6.76% and 6.14%.

How does the fund compare with the benchmark?

The fund has outpaced the benchmark over 1 year, stayed slightly ahead over 3 years, and lagged the benchmark over 5 years.

How does it compare with peers on available return figures?

Its 1-year return sits a little below several peers, while the 3-year and 5-year figures are also slightly behind the stronger peer figures available.

What is the minimum SIP amount?

The minimum SIP amount is ₹1,000.

Who manages the fund and what is the portfolio style?

Milan Mody manages the fund. The portfolio is built mainly around certificate of deposit, commercial paper, treasury bills and a small cash buffer.

Bottom line

360 ONE Liquid Fund Direct Growth Plan has a steady liquid-fund profile with a better 1-year showing than the benchmark, but a longer record that is more moderate than the strongest peer compounding figures. The portfolio is dominated by certificate of deposit exposure, followed by commercial paper and treasury bills, which supports a controlled and short-duration structure. For investors who prioritise liquidity, stability and a cash-like parking option, the fund fits that brief better than a higher-return chase.

Published on 31 August 2026 at 2:22 PM IST

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.