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

Updated: 31 Aug 2026 • 4:41 pm

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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 closed at ₹404.2252 as of 28 Aug 2026, with scheme AUM of ₹30,160 Cr. Its 1-year, 3-year and 5-year returns are 6.5059%, 7.427% and 6.7095%, and the fund is tagged as Medium Risk. Our view is that this is a steady debt fund with a fairly stable longer-term compounding pattern, but the recent return profile is not meaningfully ahead of the benchmark.

It may suit conservative investors who want money-market style debt exposure and can accept modest return variation rather than sharp market-linked upside. The portfolio is concentrated in high-quality short-duration debt instruments such as certificates of deposit, commercial paper, government securities and treasury bills.

Table of Contents

Quick facts

Particulars	Details
NAV	₹404.2252
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 28 Aug 2026

Performance

Period	Fund return	Benchmark return
1M	0.57%	-0.85%
3M	2.17%	3.39%
1Y	6.51%	-2.29%
3Y	7.43%	6.40%
5Y	6.71%	7.13%

Recent performance is mixed. Over 1 month, the fund held up better than the benchmark, while the 3-month figure lagged the benchmark by a noticeable margin. That tells us the fund can move differently from the index in short bursts, which is common for a debt strategy with a different maturity and credit mix from an equity-heavy benchmark.

The longer view is more balanced. The 3-year return is above the benchmark, and the 5-year return is only slightly below it. In our view, that pattern suggests decent medium-term compounding without a dramatic departure from benchmark-like behaviour over a full cycle. The 1-year number is also clearly positive for the fund while the benchmark is negative, which shows the fund has been more resilient over the last year even though the very recent 3-month stretch was softer.

We would not read the short-term gap and the 5-year gap in the same way. The 3-month weakness looks tactical, but the 3-year outcome is better than the benchmark and the 5-year comparison is close. For a conservative debt allocation, that mix is more useful than a single strong quarter. The main point is that the fund has delivered steady compounding, but not in a straight line.

The daily path also looks relatively contained, which fits the scheme’s money-market positioning. That lowers the chance of sharp swings, but it also means investors should expect measured rather than exciting return progression.

Source data date: as of 28 Aug 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.

Already holding Aditya Birla SL Money Market? Thinking of investing now?

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Peer comparison

Fund	1Y return	3Y return	5Y return
Aditya Birla SL Money Market Fund Direct Growth Plan	6.51%	7.43%	6.71%
Union Money Market Fund Direct Growth Plan	6.7179%	7.2214%	6.4336%
LIC MF Money Market Fund Direct Growth Plan	6.6008%	6.7979%	Data not available
Bank of India Money Market Fund Direct Growth Plan	6.5933%	Data not available	Data not available
Tata Money Market Fund Direct Growth Plan	6.5916%	7.5371%	6.8043%
Bandhan Money Market Fund Direct Growth Plan	6.5713%	7.4162%	6.6278%

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

The fund’s 1-year return sits broadly in line with the better peer readings, while its 3-year return is solid but not the highest in this group. On 5-year returns, it is ahead of most peers that have a valid figure available, which supports the view that its longer-run compounding is competitive even if the latest short-term phase is less striking. The short-term comparison is tighter than the multi-year one, so the fund’s current edge is more visible over longer periods than over the most recent quarter.

Source data date: as of 28 Aug 2026

Portfolio: where your money goes

The market-cap mix is entirely classified under other exposures at 100%, with large-cap, mid-cap and small-cap buckets at 0% each. That tells us this scheme should be read as a debt portfolio rather than an equity-style market-cap portfolio.

Sector	Allocation	Key holdings
CERTIFICATE OF DEPOSIT	60.97%	INDUSIND BANK LIMITED (29/01/2027) # — 2.41%; HDFC BANK LIMITED (12/06/2026) # — 1.61%
COMMERCIAL PAPER	28.74%	SUNDARAM FINANCE LIMITED (12/03/2027) — 0.86%; SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA (03/06/2026) — 0.74%
GOVERNMENT SECURITIES	8.81%	GOVERNMENT OF INDIA (12/04/2026) — 1.36%; STATE GOVERNMENT SECURITIES (05/02/2027) — 1.02%
TREASURY BILLS	4.47%	364 DAYS T-BILL – 02OCT2026 — 1.07%; 364 DAYS T-BILL – 10SEP2026 — 0.67%

The largest allocation is certificates of deposit at 60.97%, and that is materially above commercial paper at 28.74%. In our view, that makes the fund’s behaviour likely to be shaped most by short-term bank and corporate money-market instruments, with government securities and treasury bills acting as a smaller stabilising layer. The portfolio does not look broadly diversified across many sector themes, but that is normal for a debt scheme with this profile.

The holding mix also shows relatively small individual positions inside each sector table, which suggests the sector allocation matters more than any single line item in day-to-day interpretation. Government securities at 8.81% and treasury bills at 4.47% give some sovereign support, while the heavier CD and commercial paper allocations point to a credit-driven money-market structure.

For investors, the main takeaway is that the scheme appears to lean more on short-duration fixed-income paper than on duration risk. That may help explain the steadier return pattern over longer periods.

Source data date: as of 28 Aug 2026

Who should invest

This fund is more suitable for investors who are comfortable with debt-fund style movements and do not need equity-like upside. The Medium Risk tag and the 1-year, 3-year and 5-year return pattern suggest a fit for those who prefer steadier compounding over high volatility. A longer horizon can help smooth out the kind of short-term variation seen in the 3-month performance.

The main trade-off is that the portfolio may offer stability and moderate income orientation, but not aggressive return acceleration. The benchmark comparison also shows that outcomes can move ahead of or behind the index in different periods, so patience matters. Investors looking for a conservative parking place for money may find the profile sensible, provided they accept that returns are likely to be measured rather than standout.

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 28 Aug 2026

Frequently asked questions

What is the current NAV of Aditya Birla SL Money Market Fund Direct Growth Plan?
Its current NAV is ₹404.2252 as of 28 Aug 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 6.5059%, the 3-year return is 7.427%, and the 5-year return is 6.7095%.

How does the fund compare with the benchmark?
It has outpaced the benchmark over 1 year and 3 years, while the 5-year return is slightly below the benchmark. The short-term pattern is mixed, with the latest 3-month figure below the benchmark.

How does it compare with the peer funds listed here?
Its 1-year return is broadly competitive, the 3-year figure is solid, and the 5-year return is ahead of most peers with available 5-year data. The comparison is stronger over longer periods than over the most recent quarter.

What is the minimum SIP amount?
The minimum SIP 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 shows a steadier longer-term profile than its short-term stretch, with a 3-year return that sits ahead of the benchmark and a 5-year return that remains close to it. Against peers, the longer-run numbers look competitive, while the recent quarter is less impressive. The Medium Risk profile, combined with a portfolio led by certificates of deposit and commercial paper, points to a conservative debt allocation that may suit investors who value stability and measured compounding more than fast gains.

Published on 31 August 2026 at 4:39 PM IST

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.