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

Aditya Birla SL Business Cycle Fund Direct Growth Plan has a NAV of ₹17.12 as of 18 Sep 2026 and an AUM of ₹1,843 Cr. Its 1-year, 3-year and 5-year returns are 6.34%, 12.5% and 0, and the fund is tagged High Risk.

Our view is that it has shown a steadier medium-term path than the benchmark, but the recent 1-year outcome is still modest for an equity fund. The portfolio is fairly spread across 58 holdings, with banks, industrial names and select mid-sized businesses forming the visible core.

Quick facts

Particular	Details
NAV	₹17.12 as of 18 Sep 2026
AUM	₹1,843 Cr
Expense Ratio	1.22%
Launch Date	03 Dec 2021
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	1% on or before 30D, Nil after 30D
Fund Managers	Pavas Pethia, Harish Krishnan

The fund is managed by Pavas Pethia and Harish Krishnan.

Source data date: as of 18 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.12%	-3.73%
3M	4.26%	-3.14%
1Y	6.34%	-5.31%
3Y	12.5%	6.3%
5Y	Data not available	Data not available

The fund’s short-term pattern is better than the benchmark, especially over 3M and 1Y, where the benchmark stayed negative while the fund remained positive. That suggests the portfolio has handled recent market swings better than a plain index exposure, even though the latest 1M figure was mildly negative.

The longer view is more balanced. The 3Y return of 12.5% is ahead of the benchmark’s 6.3%, which indicates better compounding through a full cycle, but the margin is not extreme. The 5Y figure is not available because the scheme has not completed a five-year track record yet.

The one-month series points to some recent softness after a better run earlier in the year, while the 3Y trend shows a broad upward pattern with pauses and pullbacks. In our view, that combination matters: the fund has not moved in a straight line, but it has still stayed ahead of the benchmark across the medium term.

Source data date: as of 18 Sep 2026

Should you BUY or HOLD Aditya Birla SL Business Cycle?

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 Business Cycle Fund Direct Growth Plan	6.34%	12.5%	Data not available
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan	65.43%	35.11%	Data not available
HDFC Pharma and Healthcare Fund Direct Growth Plan	27.29%	Data not available	Data not available
Kotak Healthcare Fund Direct Growth Plan	27.27%	Data not available	Data not available
Motilal Oswal Active Momentum Fund Direct Growth Plan	25.8%	Data not available	Data not available
PGIM India Healthcare Fund Direct Growth Plan	24.4%	Data not available	Data not available

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

The fund’s 1-year return is well below the strongest peer figures in this set, while its 3-year return also trails the best long-run peer number shown here. Even so, the fund’s own 3-year performance is more meaningful than its 1-year result because it shows steadier compounding than the benchmark and avoids the sharp short-term weakness visible in some comparisons.

That means the short-term and longer-term comparisons tell different stories. On a one-year view, the fund looks restrained beside sector-focused peers, but on a three-year view it is more consistent than the benchmark and remains a workable reference point for investors who want diversified equity exposure rather than a narrow thematic stance.

Source data date: as of 18 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
ICICI Bank Ltd.	Bank	4.16%
The Federal Bank Ltd.	Bank	3.45%
R R Kabel Ltd.	Electricals	3%
Shivalik Bimetal Controls Ltd.	Iron & Steel	2.73%
Birlasoft Ltd.	IT	2.64%
Shaily Engineering Plastics Ltd.	Plastic Products	2.59%
S.J.S. Enterprises Ltd.	Automobile & Ancillaries	2.58%
Craftsman Automation Ltd.	Automobile & Ancillaries	2.56%
Karur Vysya Bank Ltd.	Bank	2.5%
TVS Motor Company Ltd.	Automobile & Ancillaries	2.36%

The top 10 holdings account for approximately 28.57% of the portfolio.

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

ICICI Bank Ltd. is the largest holding at 4.16%, and the next few positions stay close enough that no single name dominates the visible book. The gap from the largest holding to the tenth holding is modest, which suggests the disclosed core is spread across several positions rather than being driven by one or two outsized bets.

That said, the combined weight of the top 10 is 28.57%, so the portfolio is not fully diffuse at the visible level. With 58 holdings in total, the fund may still be drawing return drivers from a longer tail of positions, but the listed names show a meaningful tilt toward banks, industrials and business-linked cyclical names.

In our view, this mix may help the fund participate in broader business-cycle recovery phases, while also making it more dependent on stock selection across several pockets rather than on a concentrated set of very large positions.

Source data date: as of 18 Sep 2026

Who should invest

This fund suits investors who can tolerate High Risk and want equity exposure with a business-cycle tilt rather than a plain index-like portfolio. The 3-year return is stronger than the benchmark, but the 1-year figure is still modest, so the path has been uneven rather than smooth.

A longer investment horizon is more appropriate than a short holding period, because the return pattern shows that the scheme can move through softer stretches before the broader trend improves. The main trade-off is that investors may get better diversification and cycle participation than a narrow thematic fund, but they must accept periodic underperformance and higher short-term variability.

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 1% if units are sold on or before 30 days, and nil after 30 days.

Source data date: as of 18 Sep 2026

Frequently asked questions

What is the current NAV of Aditya Birla SL Business Cycle Fund Direct Growth Plan?
The NAV is ₹17.12 as of 18 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 6.34%, the 3-year return is 12.5%, and the 5-year return is Data not available.

How has the fund done versus the benchmark?
It has outpaced the benchmark over 1M, 3M, 1Y and 3Y. The 3-year return is 12.5% versus 6.3% for the benchmark, while the 1-year return is 6.34% versus -5.31%.

How does it compare with the peer funds shown here?
Its 1-year return is lower than the stronger peer numbers in this set, while its 3-year return is also below the best long-run peer figure shown. The fund still has a steadier multi-year shape than the benchmark.

What is the minimum SIP amount?
The minimum SIP amount is ₹100.

What are the risk category, managers and exit load?
The fund is tagged High Risk and is managed by Pavas Pethia and Harish Krishnan. Exit load is 1% if units are sold on or before 30 days, and nil after 30 days.

Bottom line

Aditya Birla SL Business Cycle Fund Direct Growth Plan has a mixed but defensible profile: the recent 1-year return is modest, yet the 3-year track remains ahead of the benchmark. Against the peer set shown here, its return profile is more restrained, but the scheme is not trying to mirror the most aggressive thematic outcomes. The portfolio is spread across 58 holdings, with banks and cyclical businesses visible in the core. That makes it more suitable for investors who can accept High Risk and want a diversified equity fund with cycle sensitivity.

Published on 21 September 2026 at 9:39 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.