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

Aditya Birla SL Money Market Fund Direct Growth Plan has a NAV of ₹405.0961 as of 03 Sep 2026 and an AUM of ₹30,160 Cr. Its 1-year, 3-year and 5-year returns are 6.65%, 7.46% and 6.74%, and the scheme is tagged as Medium Risk. Our view is that it suits conservative investors who want a money-market debt fund with steadier behaviour than equity, while still accepting that returns can move modestly over shorter periods.

The fund’s recent return profile is broadly in line with its longer record, and the portfolio is built around short-dated debt-market instruments rather than growth-style assets. That makes it more about liquidity and stability than high upside, so the main fit is for investors who value disciplined return generation over aggressive capital appreciation.

Quick facts

Particular	Details
NAV	₹405.0961 as of 03 Sep 2026
AUM	₹30,160 Cr
Expense Ratio	0.22%
Launch Date	01 Jan 2013
Min SIP	₹1,000
Risk Category	Medium Risk
Benchmark	Nifty 50
Fund Category	Debt
Exit Load	No exit load after holding period
Fund Managers	Kaustubh Gupta, Mohit Sharma, Anuj Jain

The fund is managed by Kaustubh Gupta, Mohit Sharma and Anuj Jain.

Source data date: as of 03 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.70%	-3.01%
3M	2.32%	1.95%
1Y	6.65%	-4.40%
3Y	7.46%	5.74%
5Y	6.74%	6.27%

Recent performance has been firmer than the benchmark across the shorter windows. The 1-month return is modest but positive, while the benchmark is negative over the same period, and the 3-month figure also stays ahead of the benchmark. That tells us the fund has recently held up better than the comparison index in a weak stretch for the index.

The longer record is stronger in absolute terms than the short-dated windows, especially the 3-year return of 7.46%. The 5-year return is still healthy at 6.74%, though only slightly ahead of the benchmark’s 6.27%. So the fund has not relied on one sharp period of outperformance; instead, it has delivered a fairly even compounding pattern with occasional short-term improvement.

What matters most is the contrast between the benchmark and the fund in the 1-year view. The fund stayed positive while the benchmark was negative, which reinforces the defensive nature of the scheme’s behaviour. At the same time, the 3-year and 5-year figures show that the edge is present but not dramatic, so the fund’s appeal is more about consistency than standout excess return.

Overall, the path of returns suggests a low-drama debt fund that has generally preserved a positive trajectory, with some recent strength relative to the benchmark and a longer track record that remains orderly rather than volatile.

Source data date: as of 03 Sep 2026

Should you BUY or HOLD Aditya Birla SL Money Market?

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 Money Market Fund Direct Growth Plan	6.65%	7.46%	6.74%
Union Money Market Fund Direct Growth Plan	6.87%	7.26%	6.47%
Bank of India Money Market Fund Direct Growth Plan	6.75%	Data not available	Data not available
LIC MF Money Market Fund Direct Growth Plan	6.75%	6.84%	Data not available
Tata Money Market Fund Direct Growth Plan	6.74%	7.57%	6.83%
Bandhan Money Market Fund Direct Growth Plan	6.72%	7.45%	6.66%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On 1-year return, the fund sits close to the peer group with Union Money Market Fund Direct Growth Plan ahead at 6.87% and Bank of India and LIC MF Money Market Fund Direct Growth Plan slightly above it at 6.75%. The picture changes over longer periods: the fund’s 3-year return of 7.46% is stronger than Union’s 7.26% and Bandhan’s 7.45%, while the 5-year return of 6.74% is between Union’s 6.47% and Tata Money Market Fund Direct Growth Plan’s 6.83%. That mix suggests short-term competitiveness with a balanced longer-term showing rather than a single dominant pattern.

Source data date: as of 03 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Indusind Bank Ltd. (29/01/2027) **#	Certificate of Deposit	4.64%
The Jammu & Kashmir Bank Ltd. (22/02/2027) **#	Certificate of Deposit	3.18%
Yes Bank Ltd. (05/03/2027) **#	Certificate of Deposit	3.18%
Axis Bank Ltd. (17/12/2026) **#	Certificate of Deposit	3.07%
The Federal Bank Ltd. (18/02/2027) **#	Certificate of Deposit	3.03%
State Government Securities (05/02/2027)	Government Securities	2.64%
Indusind Bank Ltd. (11/12/2026) **#	Certificate of Deposit	2.57%
Sundaram Finance Ltd. (12/03/2027) **	Commercial Paper	1.75%
91 Day T-Bill 22.10.26	Treasury Bills	1.64%
The Federal Bank Ltd. (29/01/2027) **#	Certificate of Deposit	1.6%

The top 10 holdings account for approximately 27.3% of the portfolio.

To see all holdings, visit the Aditya Birla SL Money Market Fund Direct Growth Plan page

The single largest holding is Indusind Bank Ltd. (29/01/2027) **# at 4.64%, and the next few positions are not far behind, with three holdings clustered around the 3% mark. The drop from the largest holding to the tenth is not steep, which suggests the visible book is spread across several short-dated instruments rather than resting on one dominant line item.

That said, the visible top 10 still add up to 27.3%, so the disclosed portfolio has room for a longer tail of holdings beyond the first ten. With 70 total disclosed holdings and more positions beyond what is shown here, the fund may be using broad instrument diversification to manage liquidity and credit exposure across many small lines.

For an investor, that structure may reduce the influence of any one holding, even though the top few names still carry the most weight among the visible positions. The mix is dominated by certificate of deposit exposure, with smaller allocations to government securities, commercial paper and treasury bills, which is consistent with a short-duration money-market style portfolio.

Source data date: as of 03 Sep 2026

Who should invest

This fund suits investors who are comfortable with a Medium Risk debt scheme and who want a short-to-medium horizon parking place rather than a high-growth allocation. Its return history is steady enough to appeal to conservative investors, but it is still a market-linked debt fund, so the trade-off is accepting modest fluctuations in pursuit of better carry than a plain cash alternative.

The 1-year performance has held up well versus the benchmark, while the 3-year and 5-year numbers show a reasonably consistent compounding pattern. That makes the fund more suitable for investors who value stability, liquidity-minded behaviour and a return stream that has generally remained positive across different windows.

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: 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 Money Market Fund Direct Growth Plan?
The current NAV is ₹405.0961 as of 03 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 6.65% over 1 year, 7.46% over 3 years and 6.74% over 5 years.

How has the fund done versus its benchmark?
It has done better than the benchmark across the periods shown. The clearest gap is in 1 year, where the fund stayed positive while the benchmark was negative.

How does it compare with peer funds on recent returns?
Its 1-year return is close to the peer set, and its 3-year and 5-year returns are also competitive. Some peers are ahead in the shorter window, while others trail it over longer periods.

What is the minimum SIP amount?
The minimum SIP amount is ₹1,000.

Who manages the fund and what is the exit load?
The fund is managed by Kaustubh Gupta, Mohit Sharma and Anuj Jain. The exit load is nil after the holding period.

Bottom line

Aditya Birla SL Money Market Fund Direct Growth Plan has a return profile that is steadier over time than its short-term swings might suggest. Its recent numbers are competitive with peers, and the longer record remains broadly in line with that pattern rather than showing a sharp break from it. The portfolio is built around short-dated debt instruments, with the visible holdings spread across many positions, which supports a conservative money-market style fit for investors seeking stability and liquidity-minded debt exposure.

Published on 4 September 2026 at 5:06 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.