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

Aditya Birla SL MNC Fund Direct Growth Plan has a NAV of ₹1,495.72 as of 28 August 2026 and a scheme AUM of ₹3,293 Cr. Its 1-year, 3-year and 5-year returns are -1.41%, 9.02% and 7.38%, and it sits in the High Risk category.

Our view is that this is a differentiated equity option rather than a steady benchmark-tracker. The return pattern has been uneven in the near term, but the longer horizon is more constructive, and the portfolio mix across large, mid and small caps means outcomes can vary meaningfully with market conditions.

Quick facts

Metric	Value
NAV	₹1,495.72
AUM	₹3,293 Cr
Expense Ratio	1.29%
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	Chanchal Khandelwal

The fund is managed by Chanchal Khandelwal.

Source data date: as of 28 Aug 2026

Performance

Period	Fund return	Benchmark return
1M	1.40%	-0.85%
3M	6.32%	3.39%
1Y	-1.41%	-2.29%
3Y	9.02%	6.40%
5Y	7.38%	7.13%

The recent picture is better than it first looks. Over 1 month and 3 months, the fund has held up well and stayed ahead of the benchmark, which suggests that the latest phase has been more stable than the full 1-year record.

The 1-year return is still negative, but it is less weak than the benchmark over the same period. That tells us the fund has absorbed some of the rougher conditions better than the Nifty 50, even if absolute returns were disappointing over the year.

The longer view is more balanced. Over 3 years, the fund is clearly ahead of the benchmark, and over 5 years it is still slightly ahead. That combination suggests the strategy has not been a consistent straight-line compounding story, but the multi-year outcome remains constructive.

Using the return series as a guide, the fund has gone through noticeable swings rather than a smooth upward climb. The pattern supports a view that this is a portfolio where patience matters more than short holding periods, especially because the benchmark itself has also been uneven in parts of the period.

Source data date: as of 28 Aug 2026

Should you BUY or HOLD Aditya Birla SL MNC?

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 MNC Fund Direct Growth Plan	-1.41%	9.02%	7.38%
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan	74.63%	37.41%	Data not available
SBI Automotive Opportunities Fund Direct Growth Plan	36.18%	Data not available	Data not available
Aditya Birla SL Mfg. Equity Fund Direct Growth Plan	31.21%	23.54%	17.08%
Motilal Oswal Active Momentum Fund Direct Growth Plan	30.79%	Data not available	Data not available
Kotak Healthcare Fund Direct Growth Plan	29.80%	Data not available	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. The current fund’s 1-year return is far weaker than the peer set that has posted strong short-term gains, but the longer record is steadier than the recent number suggests. Its 3-year and 5-year returns are also below the strongest available peer figures, although the comparison is not identical across every holding period because several peers do not have complete multi-year data.

That makes the short-term and longer-term stories different. On a recent basis, the fund has lagged the more cyclical and thematic peers by a wide margin. Over longer periods, it has delivered positive compounding, but the pace has been more moderate and less forceful than the sharper multi-year returns visible in some peers with available data.

Source data date: as of 28 Aug 2026

Portfolio: where your money goes

The market-cap mix is spread across large caps at 31.66%, mid caps at 28.26%, small caps at 34.72% and other exposure at 5.36%. That is a fairly broad spread, with small caps slightly larger than large caps and mid caps also playing a meaningful role.

Sector	Weight	Top holdings
BANK	30.5%	KOTAK MAHINDRA BANK LIMITED (27.05%)
AUTOMOBILE & ANCILLARIES	29.15%	WABCO INDIA LTD (4.27%), MARUTI SUZUKI INDIA LIMITED (3.13%)
FMCG	7.98%	HINDUSTAN UNILEVER LIMITED (1.86%), NESTLE INDIA LIMITED (1.42%)
HEALTHCARE	6.08%	GLAND PHARMA LIMITED (1.23%), PFIZER LIMITED (1.03%)
ALCOHOL	3.24%	UNITED SPIRITS LIMITED (1.51%), UNITED BREWERIES LIMITED (1.4%)

The portfolio is clearly tilted toward a small set of sectors, with BANK at 30.5% and AUTOMOBILE & ANCILLARIES at 29.15%. Those two areas together account for most of the visible sector exposure, so they are likely to have the greatest influence on how the fund behaves.

The BANK allocation is materially larger than the next sector on its own, but the gap between the first two sectors is not wide. That means the portfolio is not dependent on one theme alone; instead, it is shaped by a strong combination of banking and autos, with smaller but still relevant positions in FMCG, healthcare and alcohol.

Because the market-cap mix is spread across large, mid and small caps, the fund may react to both broad market trends and stock-specific moves. The highest influence is likely to come from the banking sleeve, while the auto allocation could add a second strong swing factor.

Source data date: as of 28 Aug 2026

Who should invest

This fund fits investors who are comfortable with High Risk equity exposure and can stay invested through periods when returns move unevenly. The 1-year record is negative, but the 3-year and 5-year outcomes are positive, so the fund looks more suitable for a longer horizon than for short-term parking.

The main trade-off is accepting higher swings in return in exchange for the possibility of multi-year participation in a diversified but concentrated sector mix. Relative to the benchmark, the fund has shown resilience in some phases and weakness in others, so investors need patience and tolerance for dispersion from market averages.

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 MNC Fund Direct Growth Plan?
The current NAV is ₹1,495.72 as of 28 August 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year, 3-year and 5-year returns are -1.41%, 9.02% and 7.38%.

How does the fund compare with the Nifty 50 benchmark?
It has been ahead of the benchmark over 1 month, 3 months, 1 year, 3 years and 5 years, although the margin varies by period.

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

Who manages this fund?
Chanchal Khandelwal manages the fund.

What is the exit load and tax treatment?
The exit load is 1% on or before 90 days and nil after 90 days. Short-term capital gains are taxed at 20%, and long-term capital gains are taxed at 12.5%.

Bottom line

Aditya Birla SL MNC Fund Direct Growth Plan has a mixed recent record but a more constructive multi-year shape, with 3-year and 5-year returns staying positive and ahead of the benchmark. The peer comparison is less flattering on the recent number, although the longer-term picture is steadier than the short-term weakness suggests. The portfolio’s large, mid and small-cap spread, combined with a heavy tilt to banking and autos, means the fund may behave differently from a broad index and can move sharply when those sectors change direction.

Published on 31 August 2026 at 4:27 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.