Aditya Birla SL Arbitrage Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Aditya Birla SL Arbitrage Fund Direct Growth Plan has a NAV of ₹30.9228 as of 17 September 2026 and scheme AUM of ₹27,237 Cr. Its 1-year, 3-year and 5-year returns are 6.77%, 7.46% and 6.78%, and the fund sits in the Low Risk bucket. Our view is that it suits conservative investors who want an arbitrage-oriented equity scheme with steady long-term compounding rather than sharp near-term jumps.

The return pattern is measured rather than explosive, and the fund has stayed ahead of the NIFTY 50 across the 1-year, 3-year and 5-year periods in the figures available here. That combination of low risk, moderate returns and a large, diversified holding list points to a fund that is more about stability than momentum.

Quick facts

Particular	Details
NAV	₹30.9228 as of 17 Sep 2026
AUM	₹27,237 Cr
Expense Ratio	0.31%
Launch Date	01 Jan 2013
Risk Category	Low Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	0.25% on or before 15D, Nil after 15D
Fund Managers	Lovelish Solanki, Mohit Sharma, Krina Mehta

The fund is managed by Lovelish Solanki, Mohit Sharma and Krina Mehta.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.45%	-3.66%
3M	1.61%	-3.71%
1Y	6.77%	-7.13%
3Y	7.46%	5.82%
5Y	6.78%	5.72%

The recent profile is steadier than the benchmark. Over 1 month and 3 months, the fund has posted small positive returns while the benchmark has been negative, which suggests the strategy has held up better in a soft market backdrop.

The 1-year figure tells a similar story. The fund’s 6.77% return is positive, while the benchmark’s -7.13% return shows a clear divergence in behaviour over the same horizon. That gap matters because it shows the fund has not needed strong market direction to remain in positive territory.

The 3-year and 5-year figures are more balanced, with the fund at 7.46% and 6.78% versus 5.82% and 5.72% for the benchmark. The margin is not large, but it is consistent. The longer-term pattern also looks smoother than a cyclical equity fund, which fits the low-risk profile and the arbitrage structure.

Overall, our view is that the fund has produced moderate compounding with less visible stress than the benchmark. The trade-off is that the return profile remains modest rather than high-octane, so the appeal is steadier participation rather than strong upside capture.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD Aditya Birla SL Arbitrage?

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
Aditya Birla SL Arbitrage Fund Direct Growth Plan	6.77%	7.46%	6.78%
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan	69.80%	36.32%	Data not available
HDFC Pharma and Healthcare Fund Direct Growth Plan	25.31%	Data not available	Data not available
Kotak Healthcare Fund Direct Growth Plan	25.27%	Data not available	Data not available
Motilal Oswal Active Momentum Fund Direct Growth Plan	24.51%	Data not available	Data not available
PGIM India Healthcare Fund Direct Growth Plan	22.75%	Data not available	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the 1-year view, the fund’s 6.77% return is far below the sharper gains seen in the peer set, but that comparison is not apples-to-apples because the peers here are concentrated strategy funds rather than a low-volatility arbitrage fund. The more useful comparison is against the longer horizon: at 7.46% over 3 years and 6.78% over 5 years, the fund has been steadier than peers that lack comparable multi-year figures and has still delivered positive compounding. The short-term table therefore points to lower upside, while the longer-term numbers point to consistency.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Aditya Birla Sun Life Money Market Fund – Growth – Direct Plan	Domestic Mutual Funds Units	10.02%
ICICI Bank Ltd.	Bank	3.59%
Aditya Birla Sun Life Floating Interest Rates Fund – Direct Plan – Growth	Domestic Mutual Funds Units	3.51%
HDFC Bank Ltd.	Bank	3.38%
Reliance Industries Ltd.	Crude Oil	3.04%
Vodafone Idea Ltd.	Telecom	2.68%
Aditya Birla Sun Life Liquid Fund Direct Plan Growth	Domestic Mutual Funds Units	2.51%
Bharti Airtel Ltd.	Telecom	2.39%
Axis Bank Ltd.	Bank	2.31%
TREPS	Cash & Cash Equivalents and Net Assets	1.73%

The largest disclosed holding is Aditya Birla Sun Life Money Market Fund – Growth – Direct Plan at 10.02%, which is a meaningful anchor position for the portfolio. The next nine holdings are much smaller, and the weight drops to 1.73% by the tenth position, so influence is spread fairly quickly after the top holding.

The top 10 holdings together account for approximately 35.16% of the portfolio, which suggests the disclosed list is spread across a long tail of other positions. With 55 holdings in total, the fund may rely on breadth rather than a handful of oversized bets, even though the first few positions still matter more than the rest. That pattern fits an arbitrage-oriented portfolio where stability often comes from diversification and balance.

Because the individual weights are modest after the first line item, no single equity or cash line appears dominant enough to define the whole fund on its own. Our view is that this shape may help smooth the experience for conservative investors, but it also means the portfolio is better read as a collection of smaller exposures than as a concentrated thematic play.

To see all holdings, visit the Aditya Birla SL Arbitrage Fund Direct Growth Plan page

Source data date: as of 17 Sep 2026

Who should invest

This fund suits investors who are comfortable with low-risk positioning and prefer steadier return behaviour over aggressive upside. The 1-year, 3-year and 5-year figures show moderate compounding, while the benchmark has been more volatile over the same periods, so the fund may appeal to those who want a calmer path through market swings.

A medium-to-long holding horizon makes more sense than a short trading mindset, because the appeal lies in consistency rather than abrupt performance bursts. The main trade-off is that a conservative profile and stable construction usually come with muted upside compared with more adventurous equity strategies, so investors need to be comfortable with more modest gains.

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 is 0.25% if units are sold on or before 15 days, and nil after 15 days.

Source data date: as of 17 Sep 2026

Frequently asked questions

What is the current NAV of Aditya Birla SL Arbitrage Fund Direct Growth Plan?

The current NAV is ₹30.9228 as of 17 September 2026.

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

The fund’s returns are 6.77% over 1 year, 7.46% over 3 years and 6.78% over 5 years.

How does the fund compare with its benchmark?

It has stayed ahead of the NIFTY 50 across 1 month, 3 months, 1 year, 3 years and 5 years in the figures shown here. The benchmark has been negative over the shorter periods, while the fund remained positive.

How does it compare with the peer funds listed here?

The fund’s 1-year return of 6.77% is well below the shorter-term gains shown by the peer funds in this set, but the comparison is not directly equivalent because those peers are different strategy types. Over 3 years and 5 years, this fund shows steadier compounding, while most peers do not have comparable long-term figures available in this set.

Is there a minimum SIP amount mentioned for this fund?

No minimum SIP amount is mentioned here.

Who manages the fund and what is the exit load?

The fund is managed by Lovelish Solanki, Mohit Sharma and Krina Mehta. The exit load is 0.25% if units are sold on or before 15 days, and nil after 15 days.

Bottom line

This fund’s short-term behaviour is steadier than the benchmark, and its longer-term returns remain moderate rather than aggressive. Against the peer set shown here, the 1-year number looks subdued, but the multi-year pattern is more consistent and better aligned with a low-risk arbitrage profile. The portfolio also appears broad, with 55 holdings and no single position dominating the structure. In our view, that makes it more suitable for conservative investors who value stability and measured compounding over sharp upside.

Published on 18 September 2026 at 3:10 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.