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

Aditya Birla SL Medium Term Fund Direct Growth Plan has a NAV of ₹48.0425 as of 03 Sep 2026 and an AUM of ₹3,280 Cr. Its 1-year, 3-year and 5-year returns are 9.67%, 10.64% and 12.75%, and the scheme sits in the Medium Risk category. Our view is that it fits investors who want a debt fund with a steadier long-term return profile than the benchmark, while still accepting some short-term movement.

The fund has delivered a stronger long-term return profile than Nifty 50 in the same periods, and its portfolio is built around government securities and corporate debt rather than a broad equity-style allocation. That mix can support a measured, income-oriented approach, but the return path has not been perfectly smooth.

Quick facts

Particular	Details
NAV	₹48.0425 as of 03 Sep 2026
AUM	₹3,280 Cr
Expense Ratio	0.82%
Launch Date	01 Jan 2013
Min SIP	₹1,000
Risk Category	Medium Risk
Benchmark	Nifty 50
Fund Category	Debt
Exit Load	Nil upto 15% of units, For remaining units 2% on or before 1Y, 1 % after 1Y but on or before 2Y, Nil after 2Y
Fund Managers	Sunaina da Cunha, Mohit Sharma

The fund is managed by Sunaina da Cunha and Mohit Sharma.

Source data date: as of 03 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.32%	-3.01%
3M	2.76%	1.95%
1Y	9.67%	-4.40%
3Y	10.64%	5.74%
5Y	12.75%	6.27%

Recent returns have stayed positive across all the reported periods, which tells us the fund has remained resilient even when the benchmark has been weaker. The 1-month and 3-month numbers point to a stable short-run drift rather than a sharp jump, and the 1-year return is notably better than the benchmark’s negative reading.

The longer record is more important here. The 3-year and 5-year returns show a consistent compounding pattern, with the fund staying well ahead of the benchmark in both horizons. That gap suggests the strategy has added value through a full market cycle rather than relying only on a brief stretch of favourable conditions.

At the same time, the path has not been linear. The time pattern shows some pullbacks and recoveries along the way, so this is not a straight-line return profile. For debt investors, that matters because the fund appears to aim for better medium-term growth without giving up the possibility of short-term variation.

Overall, our read is that the fund’s recent behaviour is in line with its stronger multi-year trend, and that the benchmark comparison remains favourable across every reported period.

Source data date: as of 03 Sep 2026

Should you BUY or HOLD Aditya Birla SL Medium Term?

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 Medium Term Fund Direct Growth Plan	9.67%	10.64%	12.75%
ICICI Pru Medium Term Fund Direct Growth Plan	8.13%	8.53%	7.42%
Kotak Medium Term Fund Direct Growth Plan	8%	9.02%	7.46%
SBI Medium Term Fund Direct Growth Plan	7.39%	7.89%	6.87%
Axis Medium Term Fund Direct Growth Plan	7.29%	8.43%	7.37%

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

On the recent 1-year measure, the fund sits above the other peer figures shown here, which supports the view that its shorter-term outcome has been competitive. The same pattern holds over 3 years and 5 years, where its returns are also ahead of the available peer numbers in this set.

That said, the peer picture is not just about one period. The consistency across 1-year, 3-year and 5-year numbers matters more than a single snapshot, because it shows the fund has held its edge over both shorter and longer horizons. For investors comparing medium-term debt options, that combination of steadier relative performance and stronger compounding can be meaningful.

Source data date: as of 03 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Government of India (11/05/2036)	Government Securities	12.13%
8.25% Bajaj Housing Finance Ltd. (27/05/2031) **	Corporate Debt	4.66%
7.27% National Bank for Agriculture and Rural Development (23/02/2029) **	Corporate Debt	3.79%
6.66% National Bank for Agriculture and Rural Development (12/10/2028)	Corporate Debt	3.45%
9.25% Hinduja Leyland Finance Ltd. (09/07/2031) **	Corporate Debt	3.34%
9.90% Oxyzo Financial Services Pvt. Ltd. (13/03/2029) **	Corporate Debt	2.71%
5.00% GMR Airports Ltd. (13/02/2027)	Corporate Debt	2.57%
JTPM Metal Traders Ltd. (29/09/2028) (ZCB) **	Corporate Debt	2.51%
Jubilant Bevco Ltd. (31/05/2028) (ZCB) **	Corporate Debt	2.51%
Net Receivable / Payable	Cash & Cash Equivalents and Net Assets	2.37%

The top 10 holdings account for approximately 40.04% of the portfolio.

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

The largest holding, Government of India (11/05/2036), carries a 12.13% weight, so it is the single position most likely to influence portfolio behaviour. The tenth holding is 2.37%, which shows that the allocation steps down meaningfully from the largest line to the smaller positions.

That spread suggests the fund is not built around one dominant security alone, but neither is it broadly dispersed across a very long list of equally weighted positions. With 53 disclosed holdings and 40.04% in the top 10, our view is that the portfolio has a noticeable core at the top while still leaving room for a longer tail of smaller exposures.

For investors, that structure may matter because government securities and multiple corporate debt lines can help diversify the portfolio across issuers and maturities. Even so, the largest position is still large enough to matter, so the fund may respond more to moves in its main debt exposures than a highly fragmented strategy would.

Source data date: as of 03 Sep 2026

Who should invest

This fund suits investors who are comfortable with Medium Risk and want a debt-oriented allocation with room for medium-term growth. The 1-year result is positive, but the more important message comes from the 3-year and 5-year numbers, which are stronger than the benchmark and show that the fund has been able to compound better over time.

The main trade-off is simple: investors may get a return pattern that is steadier than equity, but not perfectly smooth, because the portfolio still has meaningful exposure to individual debt securities. The fund looks more appropriate for a horizon of at least several years, where the longer-term return pattern has a better chance to matter than short-term fluctuations.

Compared with the benchmark and the peer set shown here, the fund has a stronger return record across the reported periods. That makes it a reasonable fit for investors who want medium-term debt exposure and can accept some variation in exchange for better compounding potential.

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

• Nil upto 15% of units, for remaining units 2% on or before 1Y, 1% after 1Y but on or before 2Y, nil after 2Y.
• No exit load after holding period.

Source data date: as of 03 Sep 2026

Frequently asked questions

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

The current NAV is ₹48.0425 as of 03 Sep 2026.

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

The 1-year return is 9.67%, the 3-year return is 10.64% and the 5-year return is 12.75%.

How does it compare with the benchmark?

It has outperformed Nifty 50 across the reported 1-month, 3-month, 1-year, 3-year and 5-year periods. The benchmark return was negative over 1 year, while the fund stayed positive.

How does it compare with the peer funds shown here?

Its 1-year, 3-year and 5-year returns are above the peer figures shown here for the comparable periods. That gives it a stronger return profile across both shorter and longer horizons.

What is the minimum SIP amount?

The minimum SIP amount is ₹1,000.

Who manages the fund and what exit load applies?

The fund is managed by Sunaina da Cunha and Mohit Sharma. The exit load is nil up to 15% of units, 2% on the remaining units on or before 1 year, 1% after 1 year but on or before 2 years, and nil after 2 years.

Bottom line

Aditya Birla SL Medium Term Fund Direct Growth Plan has a stronger long-term return pattern than its recent short-term noise might suggest, and it has also stayed ahead of the benchmark and the peer returns shown here. The portfolio is anchored by government securities and a range of corporate debt positions, which gives it a clear medium-term debt identity. For investors comfortable with Medium Risk and a multi-year horizon, the fund looks better suited to a measured allocation than to very short holding periods.

Published on 4 September 2026 at 1:07 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.