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

Aditya Birla SL Flexi Cap Fund Direct Growth Plan had a NAV of ₹2238.98 as of 28 Aug 2026 and a scheme AUM of ₹28,112 Cr. Its 1-year, 3-year and 5-year returns are 13.89%, 17.19% and 13.49%, respectively, and the fund sits in the High Risk category.

Our view is that this is a flexi-cap option for investors who can stay invested through equity swings and want exposure across market caps, with a tilt that still leaves large-cap influence meaningful. The portfolio mix and the benchmark gap show a fund that has been able to compound better than the index over longer windows, even though the recent path has been less smooth.

Quick facts

Metric	Value
NAV	₹2238.98
AUM	₹28,112 Cr
Expense Ratio	0.85%
Launch Date	01 Jan 2013
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	1% on or before 90D, Nil after 90D
Fund Managers	Harish Krishnan; Dhaval Joshi

The fund is managed by Harish Krishnan and Dhaval Joshi.

Source data date: as of 28 Aug 2026

Performance

Period	Fund return	Benchmark return
1M	1.81%	-0.85%
3M	8.79%	3.39%
1Y	13.89%	-2.29%
3Y	17.19%	6.40%
5Y	13.49%	7.13%

Short-term performance has been constructive. The fund stayed positive over 1 month and 3 months, and the 1-year return is strong enough to show that it handled the more recent period far better than the benchmark, which was negative over the same horizon.

The longer record is more important for a flexi-cap fund, and here the picture remains solid. The 3-year return is well ahead of the benchmark, and the 5-year return also clears the index by a useful margin. That tells us the fund has added value through a full cycle rather than only in one short burst.

The path to those returns has not been linear. The pattern across the multi-period trend suggests normal equity volatility, with weaker stretches followed by recovery. That is consistent with a fund that can move through market phases but still preserve a stronger compounding profile than the benchmark over time.

For investors, the key read-through is that recent gains have not come from a one-off move that sits apart from the longer trend. The fund’s longer horizon numbers still support the idea that it has historically been able to compound better than the benchmark while accepting the swings that come with a High Risk equity strategy.

Source data date: as of 28 Aug 2026

Should you BUY or HOLD Aditya Birla SL Flexi Cap?

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 Flexi Cap Fund Direct Growth Plan	13.89%	17.19%	13.49%
Bank of India Flexi Cap Fund Direct Growth Plan	18.05%	22.17%	18.21%
ITI Flexi Cap Fund Direct Growth Plan	17.78%	20.00%	Data not available
Navi Flexi Cap Fund Direct Growth Plan	15.64%	13.15%	13.03%
LIC MF Multi Cap Fund Direct Growth Plan	15.46%	19.73%	Data not available
TRUSTMF Flexi Cap Fund Direct Growth Plan	14.21%	Data not available	Data not available

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

In the recent one-year window, this fund trails the stronger peer numbers available in the group, with Bank of India Flexi Cap Fund Direct Growth Plan and ITI Flexi Cap Fund Direct Growth Plan both ahead on that measure. That said, the current fund still holds up better than the benchmark and remains in the same broad return band as the other flexi-cap choices that have posted mid-teen gains.

Over 3 years, the fund is below Bank of India Flexi Cap Fund Direct Growth Plan and ITI Flexi Cap Fund Direct Growth Plan, but it remains ahead of Navi Flexi Cap Fund Direct Growth Plan and still comfortably above the benchmark. The 5-year comparison is similar: it is behind Bank of India Flexi Cap Fund Direct Growth Plan, but the fund continues to show a clearer long-term edge than the index. The short-term and longer-term views therefore tell a mixed story, but not an inconsistent one; the fund has been decent recently and better than the benchmark over time, even if some peers have done more.

Source data date: as of 28 Aug 2026

Portfolio: where your money goes

The market-cap mix shows 53.71% in large caps, 26.10% in mid caps, 16.92% in small caps and 3.28% in other holdings. That gives the fund a balanced flexi-cap structure, with large caps still forming the biggest base while mid and small caps add a meaningful growth layer.

Sector	Allocation	Top holdings
BANK	34.27%	KOTAK MAHINDRA BANK LIMITED (17.78%); ICICI BANK LIMITED (3.41%)
RETAILING	13.95%	TRENT LTD (11.21%); AVENUE SUPERMARTS LIMITED (0.63%)
HEALTHCARE	8.02%	METROPOLIS HEALTHCARE LIMITED (4.44%); DR. LAL PATH LABS LIMITED (0.81%)
AUTOMOBILE & ANCILLARIES	7.20%	ZF COMMERCIAL VEHICLE CONTROL SYSTEMS INDIA LIMITED (1.06%); BHARAT FORGE LIMITED (1.04%)
IT	5.27%	INFOSYS LIMITED (1.84%); HCL TECHNOLOGIES LIMITED (1.26%)

The sector picture is clearly led by banks, and that allocation is materially larger than the next sector, retailing. Within the sector list, the bank exposure also carries the largest individual holding weight, so it is likely to have the greatest influence on portfolio behaviour.

Retailing is the next notable sleeve, while healthcare, automobile & ancillaries and IT together add breadth rather than dominating the mix. That means the fund is not a single-theme portfolio, but it does have a visible tilt toward financials and consumer-led names. Our view is that this mix may help the fund participate in broader equity rallies while still keeping the portfolio diversified across a few distinct business cycles.

Source data date: as of 28 Aug 2026

Who should invest

This fund suits investors who are comfortable with High Risk equity exposure and want a flexi-cap strategy that can move across large, mid and small caps. The 1-year, 3-year and 5-year returns show that it has handled different market phases with reasonable consistency, and its long-term returns remain ahead of the benchmark.

The trade-off is that the path is not smooth, especially when market conditions turn volatile. Investors with a medium- to long-term horizon are better placed to absorb that movement, while those seeking stable short-term outcomes may find the equity swings harder to tolerate. The portfolio’s large-cap base may support stability, but the mid- and small-cap sleeves keep return variability alive.

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 90D, Nil after 90D.

Source data date: as of 28 Aug 2026

Frequently asked questions

What is the current NAV of Aditya Birla SL Flexi Cap Fund Direct Growth Plan?
The current NAV is ₹2238.98 as of 28 Aug 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 13.89%, the 3-year return is 17.19% and the 5-year return is 13.49%.

How has the fund performed versus Nifty 50?
It has stayed ahead of Nifty 50 across 1 month, 3 months, 1 year, 3 years and 5 years. The gap is especially clear over 1 year, 3 years and 5 years.

How does it compare with peer flexi-cap funds on returns?
It trails some peers such as Bank of India Flexi Cap Fund Direct Growth Plan and ITI Flexi Cap Fund Direct Growth Plan on recent return figures, but it remains ahead of the benchmark and competitive over longer periods.

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

Who manages the fund and what is the exit load?
The fund is managed by Harish Krishnan and Dhaval Joshi. The exit load is 1% on or before 90D, and nil after 90D.

Bottom line

Aditya Birla SL Flexi Cap Fund Direct Growth Plan shows a stronger long-term record than its benchmark, while its recent performance remains steady enough to support the longer story. In the peer set, it is not the most aggressive return winner on every horizon, but it stays relevant on longer periods and has a more balanced market-cap mix than a narrow thematic approach. The High Risk tag, the bank-heavy sector tilt and the flexi-cap structure make it best suited to investors who can tolerate equity volatility for a multi-year horizon.

Published on 31 August 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.