Aditya Birla SL Multi-Asset Passive FoF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

The Aditya Birla SL Multi-Asset Passive FoF Direct Growth Plan has a NAV of ₹18.096 as of 28 Aug 2026 and a scheme AUM of ₹34 Cr. Its 1-year, 3-year and 5-year returns are 16.5386%, 17.5388% and 0%, and the scheme sits in the High Risk category.

Our view is that this is a multi-asset allocation fund with a pronounced passive structure, so the key question is not just return level but how steadily it has built those returns. The recent track record is positive against a weak benchmark backdrop, but the portfolio mix means the fund’s behaviour can differ meaningfully from a simple equity index.

Quick facts

Particular	Details
NAV	₹18.096 (as of 28 Aug 2026)
AUM	₹34 Cr
Expense Ratio	0.28%
Launch Date	17 October 2022
Min SIP	₹100
Risk Category	High Risk
Benchmark	NIFTY 50
Fund Category	Equity
Exit Load	0.50% if units are sold on or before 15 days; nil after 15 days
Fund Managers	Kartikeya Singh

The fund is managed by Kartikeya Singh.

Source data date: as of 28 Aug 2026

Performance

Period	Fund return	Benchmark return
1M	2.15%	-0.85%
3M	6.29%	3.39%
1Y	16.54%	-2.29%
3Y	17.54%	6.4%
5Y	Data not available	Data not available

The short-term pattern is constructive. Over 1 month and 3 months, the fund has stayed positive, and the 1-year figure shows that the recent recovery has been stronger than the benchmark’s behaviour over the same period.

The benchmark comparison matters here because the NIFTY 50 has been negative over 1 year, while the fund has remained comfortably positive. That tells us the scheme has not been simply tracking the index; it has added a different return pattern, which fits a multi-asset approach.

At the 3-year mark, the fund’s return remains ahead of the benchmark and shows a steadier compounding trend than the index. The path has not been linear, but the longer stretch suggests the scheme has been able to turn its asset mix into better medium-term outcomes than a plain equity benchmark.

The 5-year figure is not available because the scheme launched in October 2022, so the most useful lens here is the 1-year to 3-year pattern. On that basis, recent behaviour has been better than the benchmark, and the medium-term trend has remained supportive rather than erratic.

Source data date: as of 28 Aug 2026

Should you BUY or HOLD Aditya Birla SL Multi-Asset Passive FoF?

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 Passive FoF Direct Growth Plan	16.54%	17.54%	Data not available
Groww Multicap Fund Direct Growth Plan	23.92%	Data not available	Data not available
TRUSTMF Multi Cap Fund Direct Growth Plan	23.29%	Data not available	Data not available
Mahindra Manulife Multi Cap Fund Direct Growth Plan	19.69%	19.47%	18.17%
Bank of India Multi Cap Fund Direct Growth Plan	17.40%	19.95%	Data not available
ITI Multi Cap Fund Direct Growth Plan	17.26%	19.10%	16.16%

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

In the near term, the fund’s 1-year return is below the stronger peer figures shown here, especially the names with returns above 23%. That said, it is still ahead of the two peers that are only modestly above 17%, so the picture is mixed rather than one-sided.

The longer-term comparison is more balanced. Where 3-year data is available, the fund trails the better-performing peers, but it also holds up reasonably well against the benchmark and stays close to the middle of the available peer set. The 5-year comparison is limited by the fund’s own vintage, so the more useful signal is that the scheme has been consistent enough over its available history without matching the strongest multi-cap numbers.

Overall, the short-term peer gap is wider than the longer-term one. That means the recent return snapshot looks softer than the better peer outcomes, while the medium-term record remains serviceable and not out of line with the broader set of available comparable returns.

Source data date: as of 28 Aug 2026

Portfolio: where your money goes

The portfolio is entirely in the “other” bucket on the market-cap split, which fits a fund that uses fund-of-funds exposure rather than direct listed equity holdings. That makes the underlying allocation more important than a standard large-cap, mid-cap or small-cap label.

Market-cap bucket	Share
Large-cap	0%
Mid-cap	0%
Small-cap	0%
Other	100%

Sector	Sector weight	Holdings
DOMESTIC MUTUAL FUNDS UNITS	86.46%	KOTAK NIFTY 50 ETF (11.35%), ABSL NIFTY NEXT 50 INDEX-DG (10.58%)
DOMESTIC MUTUAL FUNDS UNITS – GOLD	9.85%	NIPPON INDIA ETF GOLD BEES (9.85%)
DOMESTIC MUTUAL FUNDS UNITS – SILVER	2.3%	NIPPON INDIA MF NIPPON INDIA SILVER ETF (2.3%)
CASH & CASH EQUIVALENTS AND NET ASSETS	1.39%	CLEARING CORPORATION OF INDIA LIMITED (1.97%)

The sector mix is heavily tilted toward domestic mutual fund units, and that 86.46% allocation is materially larger than the next three buckets combined. In practical terms, the fund’s behaviour is likely to be driven first by the equity and index-fund exposures inside that bucket, with gold and silver acting as smaller diversifiers.

The two largest holdings inside the main bucket are both meaningful, but neither is so dominant that one security alone explains the portfolio. Instead, the overall pattern suggests layered exposure: broad equity via the ETF and next-50 index component, then a smaller allocation to precious metals for balance.

Because there is no direct large-cap, mid-cap or small-cap split and everything sits under “other,” the portfolio’s influence may come more from asset allocation choices than from style-box positioning. The domestic mutual fund units sleeve is likely to have the greatest influence on portfolio behaviour, while the gold and silver sleeves could soften or change the return path in periods when equity markets are uneven.

Source data date: as of 28 Aug 2026

Who should invest

This fund suits investors who can tolerate High Risk and want a portfolio that may behave differently from a pure equity benchmark. The return pattern is positive over 1 year and 3 years, but it is not the kind of steady, low-volatility profile that would fit conservative investors.

A medium- to long-term horizon is more appropriate because the portfolio relies on multi-asset exposure rather than a single market segment. The main trade-off is that the fund may provide diversification benefits and a different return pattern, but it can also lag stronger peer numbers in shorter comparison 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: 0.50% if units are sold on or before 15 days; nil after 15 days.

Source data date: as of 28 Aug 2026

Frequently asked questions

What is the current NAV of Aditya Birla SL Multi-Asset Passive FoF Direct Growth Plan?
The current NAV is ₹18.096 as of 28 Aug 2026.

What are the fund’s 1-year and 3-year returns?
The 1-year return is 16.54% and the 3-year return is 17.54%.

Is there a 5-year return figure for this fund?
No. The fund launched on 17 October 2022, so a 5-year return is not available.

How does it compare with the benchmark?
It has outpaced the NIFTY 50 over 1 year and 3 years, while the benchmark has been negative over 1 year and lower over 3 years.

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

Who manages the fund and what is the exit load?
Kartikeya Singh manages the fund. The exit load is 0.50% if units are sold on or before 15 days, and nil after 15 days.

Bottom line

This fund’s recent return profile is stronger than the benchmark’s, and its 3-year record supports that better-than-index pattern. It does not match the strongest available peer figures in the shorter window, but the medium-term outcome remains serviceable. The portfolio is also distinctive because it sits entirely in the “other” bucket and leans heavily on domestic mutual fund units, with gold and silver adding smaller diversifying layers. That combination makes it more suitable for investors who want a higher-risk, multi-asset approach with a medium- to long-term horizon.

Published on 31 August 2026 at 4:42 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.