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 has a NAV of ₹2,198.82 as of 08 Sep 2026 and a scheme AUM of ₹29,044 Cr. Its 1-year, 3-year and 5-year returns are 11.08%, 15.18% and 12.13% respectively, and the scheme carries a High Risk label.

Our view is that this is a flexi-cap fund with a steady longer-term record, but the recent 1-year return has been more moderate. The portfolio is led by banks and other cyclical names, so the fund may suit investors who can accept equity swings and want a diversified large- and mid-cap style exposure within a single scheme.

Quick facts

Particular	Details
NAV	₹2,198.82 as of 08 Sep 2026
AUM	₹29,044 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 08 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-1.97%	-3.86%
3M	6.87%	1.69%
1Y	11.08%	-5.72%
3Y	15.18%	6.3%
5Y	12.13%	6.05%

The fund has held up better than the benchmark across every period shown, which is an important starting point for reading the chart. Even in the last month, the decline was smaller than the benchmark’s drop, and over three months the fund recovered more strongly than the index.

The longer view is stronger than the recent one. The 3-year and 5-year numbers are both comfortably ahead of the benchmark, which suggests the scheme has been able to compound through more than one market phase. That said, the 1-year return is lower than the 3-year pace, so recent performance has not matched the stronger medium-term trend.

The pattern in the return path also points to periods of drawdown followed by recovery rather than a straight line up. That is typical of an actively managed equity fund, but it still matters for investors who may judge the scheme only from a short window. The main takeaway is that the fund has stayed ahead of the benchmark over both short and long periods, yet the ride has not been smooth.

If we look at the return shape alongside the benchmark, the fund appears more resilient in downturns and better able to participate in recoveries. That combination can be useful in a flexi-cap mandate, but it also means investors need to be comfortable with equity volatility and avoid reading too much into any single month or quarter.

Source data date: as of 08 Sep 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	11.08%	15.18%	12.13%
ITI Flexi Cap Fund Direct Growth Plan	15.92%	18.62%	Data not available
Bank of India Flexi Cap Fund Direct Growth Plan	15.04%	19.51%	17.07%
Navi Flexi Cap Fund Direct Growth Plan	12.89%	11.42%	11.86%
LIC MF Multi Cap Fund Direct Growth Plan	12.33%	18.1%	Data not available
TRUSTMF Flexi Cap Fund Direct Growth Plan	11.87%	Data not available	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On recent numbers, the fund trails several peers on 1-year return, though it still stays ahead of the benchmark. The medium-term picture is mixed as well: the 3-year return is solid, but some peers have posted stronger 3-year figures, while one peer with available 5-year data is also ahead on that horizon.

What stands out is that the comparison does not tell one single story. The fund’s short-term showing is respectable, but the better case for it comes from its ability to stay ahead of the benchmark over longer periods. Some peers have delivered higher recent returns, so investors who focus only on the last year may prefer other options. Investors who care more about the three- to five-year shape may still find this scheme competitive, especially if they value consistency against the benchmark.

Source data date: as of 08 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
ICICI Bank Ltd.	Bank	5.93%
HDFC Bank Ltd.	Bank	3.44%
Kotak Mahindra Bank Ltd.	Bank	3.37%
Reliance Industries Ltd.	Crude Oil	2.51%
State Bank of India	Bank	2.23%
Infosys Ltd.	IT	2.21%
Ather Energy Ltd.	Domestic Equities	2.07%
Bharat Forge Ltd.	Automobile & Ancillaries	2.03%
Sona BLW Precision Forgings Ltd.	Automobile & Ancillaries	1.88%
Bharti Airtel Ltd.	Telecom	1.85%

The largest holding, ICICI Bank Ltd., carries a weight of 5.93%, so no single position dominates the portfolio on its own. The step-down from the first holding to the tenth is measured rather than abrupt, moving from 5.93% to 1.85%, which suggests the top layer is important but not overwhelming.

The displayed top 10 holdings together account for approximately 27.52% of the portfolio, and the scheme has 66 disclosed holding rows in total. That mix points to a portfolio that may be spread across a long tail of positions rather than concentrated entirely in the headline names. Even so, banks are clearly important in the visible list, so sector moves in financials could still have a noticeable influence.

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

Source data date: as of 08 Sep 2026

Who should invest

This fund may suit investors with a high tolerance for equity volatility and a horizon long enough to ride through weaker phases. The High Risk label fits the return pattern: the fund has done well over 3 and 5 years, but the 1-year figure is softer and the path has not been linear.

The main trade-off is between stronger long-term compounding and short-term ups and downs. Because the fund has stayed ahead of the benchmark across the periods shown and its portfolio is built around a meaningful bank-heavy core with some cyclical exposure, it may appeal to investors who want an actively managed flexi-cap strategy and can stay invested through market swings.

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. There is no exit load after the holding period.

Source data date: as of 08 Sep 2026

Frequently asked questions

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

The current NAV is ₹2,198.82 as of 08 Sep 2026.

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

The 1-year return is 11.08%, the 3-year return is 15.18% and the 5-year return is 12.13%.

How does the fund compare with Nifty 50?

It has outperformed Nifty 50 across all the periods shown. The gap is especially clear over 1 year, 3 years and 5 years.

Which peer funds look stronger on recent returns?

ITI Flexi Cap Fund Direct Growth Plan and Bank of India Flexi Cap Fund Direct Growth Plan both show higher 1-year returns than this fund. Bank of India Flexi Cap Fund Direct Growth Plan also shows a stronger 3-year return.

Is there a minimum SIP amount?

No minimum SIP amount is stated for this scheme in the facts used here.

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 has a steadier longer-term case than its recent one-year number alone might suggest. It has stayed ahead of the benchmark across the periods shown, while several peers have posted stronger short-term returns. The portfolio is also anchored by banks and other active equity positions, which can support upside but keeps the scheme firmly in High Risk territory. For investors who want a flexi-cap fund and can tolerate market swings, the longer-term pattern matters more here than any single recent quarter.

Published on 9 September 2026 at 3:55 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.