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

Aditya Birla SL Multi Asset Allocation Fund Direct Growth Plan has a NAV of ₹18.1632 as of 28 Aug 2026 and a scheme AUM of ₹7,279 Cr. Its 1-year, 3-year and 5-year returns are 18.2377%, 17.6299% and 0%, and the fund sits in the High Risk category. Our view is that it has delivered a steady medium-term outcome, but the very short track record means the 5-year figure is not yet meaningful for judgement.

The portfolio mixes equities, gold, debt and real assets, so the fund is built for investors who can tolerate fluctuations and want multi-asset diversification rather than a single-market bet. Recent returns have been better than the benchmark, but the portfolio also means performance can move differently from a plain equity index.

Quick facts

Metric	Value
NAV	₹18.1632 as of 28 Aug 2026
AUM	₹7,279 Cr
Expense Ratio	0.54%
Launch Date	31 Jan 2023
Min SIP	₹100
Risk Category	High Risk
Benchmark	NIFTY 50
Fund Category	Hybrid
Exit Load	Nil upto 30% of units on or before 1Y, 1% after 30% of units on or before 1Y, Nil after 1Y
Fund Managers	Dhaval Gala, Bhupesh Bameta, Sachin Wankhede

The fund is managed by Dhaval Gala, Bhupesh Bameta and Sachin Wankhede.

Source data date: as of 28 Aug 2026

Performance

Period	Fund return	Benchmark return
1M	2.38%	-0.85%
3M	5.34%	3.39%
1Y	18.24%	-2.29%
3Y	17.63%	6.4%
5Y	Data not available	Data not available

The fund’s recent numbers are stronger than the benchmark across every available period. The 1-month return is positive while the benchmark has been slightly negative, and the 3-month figure also stays ahead. That tells us the fund has held up well in the latest stretch, not just over a single trading week.

The more important read-through is the 1-year result. At 18.24%, the fund has kept a wide lead over the benchmark’s -2.29%, which suggests the multi-asset structure has helped it navigate a difficult equity backdrop better than a plain large-cap index. That is a useful sign for investors who want smoother participation than a single-asset strategy can offer.

The 3-year figure is still healthy at 17.63%, but it is less impressive relative to the benchmark comparison shown here because the index itself has been weaker over that same horizon. So we read the fund as one that has combined decent compounding with a defensive mix, rather than one that has relied on a single strong market phase.

Because the scheme launched in 2023, the 5-year return is not available yet. That makes long-horizon judgement incomplete, so our view rests more on the 1-year and 3-year record and on how the portfolio is built.

Source data date: as of 28 Aug 2026

Should you BUY or HOLD Aditya Birla SL Multi Asset Allocation?

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 Multi Asset Allocation Fund Direct Growth Plan	18.2377%	17.6299%	Data not available
360 ONE Multi Asset Allocation Fund Direct Growth Plan	26.7411%	Data not available	Data not available
Kotak Multi Asset Allocation Fund Direct Growth Plan	22.5917%	Data not available	Data not available
Quant Multi Asset Allocation Fund Direct Growth Plan	21.981%	23.4286%	20.9214%
DSP Multi Asset Allocation Fund Direct Growth Plan	21.0113%	Data not available	Data not available
Mahindra Manulife Multi Asset Allocation Fund Direct Growth Plan	19.7188%	Data not available	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the latest one-year figures, the fund trails several peer funds with available data, including 360 ONE, Kotak, Quant and DSP. That said, the gap is less dramatic when you look at the three-year window, where the fund’s 17.63% sits below Quant’s 23.43% but still shows solid compounding.

The short-term peer picture and the medium-term picture therefore tell slightly different stories. The fund is not the strongest on the available one-year numbers, but its performance is still respectable and its multi-asset structure may offer a different return path than more equity-heavy peers. The absence of a live five-year history means we place more weight on consistency, portfolio balance and how the fund behaved against the benchmark.

Source data date: as of 28 Aug 2026

Portfolio: where your money goes

The market-cap mix is: large cap 41.47%, mid cap 17.69%, small cap 6.86% and other assets 33.98%.

Sector	Weight	Top holdings
BANK	16.05%	KOTAK MAHINDRA BANK LIMITED (4.99%), ICICI BANK LIMITED (2.92%)
DOMESTIC MUTUAL FUNDS UNITS – GOLD	7.38%	ADITYA BIRLA SUN LIFE GOLD ETF (7.38%)
CORPORATE DEBT	7.15%	7.50% CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED (30/09/2026) ** (0.85%), 7.68% SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA (09/07/2027) ** (0.74%)
FINANCE	6.29%	NEXUS SELECT TRUST (1.1%), EMBASSY OFFICE PARKS REIT (0.73%)
IT	5.1%	INFOSYS LIMITED (1.68%), TECH MAHINDRA LIMITED (1.05%)

The portfolio is meaningfully diversified across asset styles, with large-cap equities forming the biggest slice but not dominating the whole mix. The 33.98% bucket marked as other assets is sizeable, so the fund is clearly using a broader multi-asset design rather than staying close to an equity benchmark.

BANK at 16.05% is materially larger than every other named sector, which tells us financials are likely to have the greatest direct influence on portfolio behaviour. Even so, the presence of gold, corporate debt and real-estate-linked holdings can soften the impact of any single equity theme and may help balance swings in the portfolio.

Our view is that the fund sits between equity participation and diversification. Large caps make up the biggest listed market-cap bucket at 41.47%, but the combined mid and small-cap exposure is still meaningful, and the other-assets block is large enough to make this a genuinely blended strategy.

Source data date: as of 28 Aug 2026

Who should invest

This fund suits investors who are comfortable with High Risk and can stay invested long enough to let a multi-asset allocation work through different market phases. The 1-year and 3-year returns show decent compounding, but the short history means the record is still developing.

It is better aligned with investors who want a portfolio that is not dependent on only one market segment. The trade-off is that returns may not always match the strongest equity-focused funds in a sharp bull phase, because the fund spreads exposure across equities, gold and debt. If you want a blended return path and can accept fluctuations, the structure is more relevant than a simple one-asset approach.

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 30% of units on or before 1Y, 1% after 30% of units on or before 1Y, Nil after 1Y

Source data date: as of 28 Aug 2026

Frequently asked questions

What is the current NAV of Aditya Birla SL Multi Asset Allocation Fund Direct Growth Plan?

The current NAV is ₹18.1632 as of 28 Aug 2026.

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

Its 1-year return is 18.2377% and its 3-year return is 17.6299%. The 5-year return is not available because the scheme has not completed that full track yet.

How has the fund performed versus the benchmark?

The fund has outperformed the NIFTY 50 across every available period shown here. The gap is especially clear over 1 year, where the fund is positive and the benchmark is negative.

How does it compare with peer funds on available return data?

On the one-year figures, it trails several peers with available data such as 360 ONE, Kotak, Quant and DSP. The three-year comparison is more mixed, and the available peer data does not present a single uniform story across all horizons.

What is the minimum SIP amount?

The minimum SIP amount is ₹100.

Who manages the fund and what is the exit load?

The fund is managed by Dhaval Gala, Bhupesh Bameta and Sachin Wankhede. The exit load is nil upto 30% of units on or before 1Y, 1% after 30% of units on or before 1Y, and nil after 1Y.

Bottom line

Aditya Birla SL Multi Asset Allocation Fund Direct Growth Plan has shown stronger recent performance than its benchmark, while its longer record is still limited by the scheme’s 2023 launch. Against peers with available data, its one-year return is not the highest, but the fund still shows a coherent multi-asset profile rather than a narrow equity-only stance. The High Risk label, the sizeable bank exposure and the meaningful other-assets block all point to a blended portfolio that may suit investors looking for diversified market participation rather than a pure index-like path.

Published on 31 August 2026 at 4:46 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.