Aditya Birla SL Nifty Next 50 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Aditya Birla SL Nifty Next 50 Index Fund Direct Growth Plan has a NAV of ₹18.4705 as of 28 Aug 2026 and a scheme AUM of ₹286 Cr. Its 1-year, 3-year and 5-year returns are 13.0863%, 19.0807% and 0%, and the fund is classified as High Risk. Our view is that this is a benchmark-aware index option for investors who can accept higher volatility in exchange for exposure to the next set of listed companies beyond the largest names.

The fund has a low expense ratio of 0.33% and a minimum SIP of ₹100. Its mix is tilted heavily toward large-cap companies, with some mid-cap exposure, so the portfolio remains relatively anchored while still carrying the style risk that comes with the Nifty Next 50 universe.

Quick facts

NAV	₹18.4705
AUM	₹286 Cr
Expense Ratio	0.33%
Launch Date	18 Feb 2022
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Mehul Dama, Priya Sridhar

The fund is managed by Mehul Dama and Priya Sridhar.

Source data date: as of 28 Aug 2026

Performance

Period	Fund return	Benchmark return
1M	0.78%	-0.85%
3M	6.36%	3.39%
1Y	13.09%	-2.29%
3Y	19.08%	6.40%
5Y	Data not available	Data not available

The fund has stayed ahead of the benchmark across every available horizon. That matters because a passive fund is usually judged on how closely it tracks the intended opportunity set and whether it captures the intended market move better than the benchmark backdrop reflected here.

The short-term pattern has been mixed but constructive. Over 1 month and 3 months, the fund continued to edge higher even when the benchmark was choppier, which suggests the portfolio still had positive momentum through the latest period. The 1-year figure is much stronger than the benchmark’s negative return, so the fund has clearly benefited from the broader rally in its underlying universe over the last year.

The 3-year record is also meaningfully stronger than the benchmark, which points to a healthier compounding pattern over a fuller market cycle. The monthly path shows intermittent pullbacks, so this has not been a straight line upward, but the longer trend remains positive. The 5-year figure is not available because the scheme has not built that history yet, so the longer comparison has to stop at the 3-year view.

Our view is that the fund’s recent behaviour is consistent with an index strategy that can move in bursts rather than in a smooth line. Investors looking only at the latest month may miss the stronger 1-year and 3-year progression, while those longer horizons show the fund has held up well against the benchmark used for this review.

Source data date: as of 28 Aug 2026

Should you BUY or HOLD Aditya Birla SL Nifty Next 50 Index?

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 Nifty Next 50 Index Fund Direct Growth Plan	13.0863%	19.0807%	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	35.235%	31.2535%	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	32.3519%	Data not available	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	32.0816%	Data not available	Data not available
Motilal Oswal Nifty India Defence Index Fund Direct Growth Plan	31.9037%	Data not available	Data not available
Aditya Birla SL Nifty India Defence Index Fund Direct Growth Plan	31.8928%	Data not available	Data not available

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

The fund’s 1-year return trails the stronger peer figures shown here, while its 3-year return is also lower than the only peer with a comparable 3-year number. That creates a clear short-term and medium-term gap versus the more growth-heavy peers in this set. The key point, though, is that the peer list itself is mixed, and most of the funds shown do not yet have a 3-year or 5-year record, so the longer comparison is limited.

For investors comparing only the available return data, this fund looks more moderate than the sharper recent gains posted by the peer set. The shorter-horizon comparison and the longer-horizon comparison do not tell the same story: the fund has a stable 3-year history against its benchmark, but the peer figures available for 1 year are much stronger. That makes the fund easier to read as a steadier index exposure than as a recent return leader.

Source data date: as of 28 Aug 2026

Portfolio: where your money goes

Market-cap distribution shows 92.01% in large caps, 7.68% in mid caps, 0% in small caps and 0.31% in other holdings. This is a clearly large-cap-led portfolio, with a small mid-cap sleeve that can add some variation without changing the overall profile.

Sector	Weight	Top holdings
FINANCE	13.28%	HDFC ASSET MANAGEMENT COMPANY LIMITED (3.02%), CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED (2.43%)
AUTOMOBILE & ANCILLARIES	9.14%	TVS MOTOR COMPANY LIMITED (2.92%), SAMVARDHANA MOTHERSON INTERNATIONAL LIMITED (1.9%)
POWER	8.79%	ADANI POWER LIMITED (2.44%), TATA POWER COMPANY LIMITED (2.31%)
CAPITAL GOODS	8.25%	HINDUSTAN AERONAUTICS LIMITED (2.85%), CG POWER AND INDUSTRIAL SOLUTIONS LIMITED (1.78%)
RETAILING	7.51%	TRENT LIMITED (5.18%), AVENUE SUPERMARTS LIMITED (2.1%)

The sector spread is fairly broad, but Finance is still the largest listed sector and is noticeably above the next few sectors. That means financials may have the greatest influence on short-term portfolio behaviour, even though the gap is not extreme enough to suggest a narrowly concentrated fund.

Automobile & Ancillaries, Power, Capital Goods and Retailing all sit in a relatively tight band, so they may contribute to the fund in a more balanced way. The largest single holding in Retailing, Trent Limited at 5.18%, stands out within that sector, but the overall portfolio still looks diversified across the five visible sectors rather than dominated by one stock.

For investors, the key takeaway is that this index fund is built around large-company exposure with a meaningful spread across cyclical and consumption-linked areas. That combination may keep the portfolio’s broad market character intact while still allowing some sector-led swings.

Source data date: as of 28 Aug 2026

Who should invest

This fund suits investors who are comfortable with High Risk and who can stay invested through ups and downs in an equity index strategy. The 1-year and 3-year returns show positive compounding, but the path has not been smooth, so a medium-to-long horizon is more sensible than a short holding period.

It also fits investors who want large-cap-heavy exposure with some mid-cap participation, rather than a very concentrated thematic bet. The main trade-off is that the fund may participate in market rallies, but it can also move sharply when equity sentiment weakens.

For comparison-minded investors, the fund’s benchmark-beating record over the available horizons is useful, but the stronger recent peer figures show that it is not the most aggressive return profile in the peer set. That makes it more appropriate for someone who wants disciplined index exposure and can accept that returns may come with noticeable volatility.

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.

Source data date: as of 28 Aug 2026

Frequently asked questions

What is the current NAV of Aditya Birla SL Nifty Next 50 Index Fund Direct Growth Plan?
Its NAV is ₹18.4705 as of 28 Aug 2026.

What are the fund’s recent returns?
Its 1-year return is 13.0863% and its 3-year return is 19.0807%. The 5-year return is not available.

How has it done versus the benchmark?
It has outperformed the benchmark across the available 1-month, 3-month, 1-year and 3-year periods. The benchmark return is negative over 1 year and positive over 3 years, while the fund stays ahead in both windows.

How does it compare with the listed peer funds on 1-year return?
Its 1-year return of 13.0863% is below the stronger 1-year numbers shown for the peer funds in this set. That means the recent peer comparison is less favorable for this fund than its benchmark comparison.

What is the minimum SIP amount?
The minimum SIP is ₹100. That makes the fund accessible for small, regular investments.

Who manages the fund and what is the exit load?
The fund is managed by Mehul Dama and Priya Sridhar. It has no exit load.

Bottom line

Aditya Birla SL Nifty Next 50 Index Fund Direct Growth Plan shows a stronger longer-term pattern than its benchmark, with the 1-year and 3-year figures both staying ahead of the benchmark used here. The peer set tells a different short-term story, because several listed peers show much stronger 1-year returns, while most do not yet have longer records for a fuller comparison. With High Risk, a large-cap-heavy portfolio and no exit load, this is best read as a disciplined index fund for investors who want broad equity exposure and can accept volatility.

Published on 31 August 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.