Baroda BNP Paribas Multi Asset Active FoF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Baroda BNP Paribas Multi Asset Active FoF Direct Growth Plan currently has a NAV of ₹11.4037 as of 15 Sep 2026 and an AUM of ₹114 Cr. Its 1-year, 3-year and 5-year returns are 10.03%, 0% and 0% respectively, and it sits in the High Risk category. In our view, the fund looks suitable for investors who can handle meaningful swings and who want a multi-asset structure rather than a simple equity-only profile.

The recent return profile is better than the benchmark over shorter periods, but the longer lookback remains limited by the fund’s short history since launch on 30 May 2025. The portfolio is heavily tied to underlying fund units and gold exposure, so the outcome can differ from a plain market-cap equity fund.

Quick facts

Particular	Details
NAV	₹11.4037 as of 15 Sep 2026
AUM	₹114 Cr
Expense Ratio	0.1%
Launch Date	30 May 2025
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Fund of Fund
Exit Load	1% on or before 1Y, Nil after 1Y
Fund Managers	Gurvinder Singh Wasan

The fund is managed by Gurvinder Singh Wasan.

Source data date: as of 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-1.31%	-4.81%
3M	0.54%	-3.63%
1Y	10.03%	-8.27%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The short-term profile has been better than the benchmark. Over 1 month, the fund declined, but the fall was milder than the benchmark’s drop. Over 3 months, the fund moved into positive territory while the benchmark stayed negative, which tells us the structure has held up better in the recent recovery phase.

The 1-year figure gives the clearest read on this fund today. A gain of 10.03% versus the benchmark’s loss of 8.27% shows a meaningful gap in favour of the fund over the period available to us. That said, the fund was launched only in May 2025, so the available history is still short and should not be treated as a full market cycle.

The daily pattern in the one-month and three-month paths suggests the fund has not moved in a straight line. There were small drawdowns and recoveries, but the overall direction improved into the longer 1-year window. For investors, that means the fund may offer better downside resilience than the benchmark in this brief sample, while still carrying enough volatility to justify the High Risk label.

Because the benchmark is Nifty 50, the gap is also a reminder that this fund is not trying to behave like a plain index tracker. Its underlying mix can shift the return pattern away from equities, which can help in some stretches and lag in others.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD Baroda BNP Paribas Multi Asset Active 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
Baroda BNP Paribas Multi Asset Active FoF Direct Growth Plan	10.03%	Data not available	Data not available
SBI Silver ETF FoF Direct Growth Plan	75.06%	Data not available	Data not available
Kotak Silver ETF FoF Direct Growth Plan	74.67%	44.26%	Data not available
Axis Silver FoF Direct Growth Plan	73.7%	44.39%	Data not available
Zerodha Silver ETF FoF Direct Growth Plan	73.46%	Data not available	Data not available
Nippon India Silver ETF FoF Direct Growth Plan	72.65%	43.94%	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. The current fund’s 1-year return is much lower than the silver-focused peers listed here, but the comparison is not as one-sided when we look at longer windows because several peers also show missing 5-year histories and mixed 3-year availability. In our view, the more important point is that this fund has produced a steadier, more modest return profile than the sharply higher peer figures in the one-year window. That suggests a different outcome profile rather than a simple gap in every timeframe.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Baroda BNP Paribas Short Term Fund DR Growth	Domestic Mutual Funds Units	51.08%
Baroda BNP Paribas Large Cap Direct Plan Growth	Domestic Mutual Funds Units	21.51%
Baroda BNP Paribas Gold Etf-Rg	Domestic Mutual Funds Units – Gold	19.82%
Baroda BNP Paribas Dynamic Term Fund DR Growth	Domestic Mutual Funds Units	7.55%

The largest holding is Baroda BNP Paribas Short Term Fund DR Growth at 51.08%, which means more than half of the portfolio is tied to that single position. The next two holdings are also sizeable at 21.51% and 19.82%, so the portfolio is still shaped by a small number of large positions rather than a long tail of minor ones.

The weight drop from the largest holding to the fourth holding is sharp, falling from 51.08% to 7.55%. That kind of spread usually means the largest positions are likely to have greater influence on short-term behaviour, while the smaller holding can still contribute but is less likely to drive the overall result.

All four disclosed holdings together account for 99.96% of the portfolio, and the disclosure contains only four holding rows. That makes the structure look very concentrated in the reported basket, with the mix split mainly between debt-oriented mutual fund units, equity-oriented mutual fund units and gold ETF exposure.

Source data date: as of 15 Sep 2026

Who should invest

This fund suits investors who are comfortable with High Risk and who can stay invested long enough to absorb uneven periods. The available return path is encouraging over 1 year and less shaky than the benchmark in the short run, but the short history means it is still early to judge the consistency of the strategy. Investors who want a diversified multi-asset structure and can accept that results may differ meaningfully from Nifty 50 may find the setup more relevant than a pure equity-oriented approach.

The main trade-off is between diversification and predictability. The portfolio’s heavy reliance on a few underlying fund units and gold exposure may help the fund move differently from the benchmark, but it can also create periods where returns look quite unlike a simple equity market pattern.

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: 1% on or before 1Y, Nil after 1Y.

Source data date: as of 15 Sep 2026

Frequently asked questions

What is the current NAV of Baroda BNP Paribas Multi Asset Active FoF Direct Growth Plan?
The current NAV is ₹11.4037 as of 15 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is 10.03%, while the 3-year and 5-year returns are Data not available because the fund history is too short for those periods.

How does the fund compare with its benchmark?
It has outperformed the benchmark over 1 month, 3 months and 1 year. The benchmark return was negative in each of those periods, while the fund stayed closer to flat-to-positive territory over the shorter windows and finished positive over 1 year.

How does it compare with the peer funds listed here?
The peer funds shown have much higher 1-year returns in the silver ETF FoF category, but several also have missing longer-horizon figures. That makes the comparison useful for context, yet not a full like-for-like verdict on every time frame.

What is the minimum SIP amount?
The minimum SIP amount is ₹500.

What is the risk category and who manages the fund?
The fund is marked High Risk, and it is managed by Gurvinder Singh Wasan. The portfolio is dominated by a few large underlying fund and gold positions, which helps explain the higher-risk profile.

Bottom line

Baroda BNP Paribas Multi Asset Active FoF Direct Growth Plan has shown a stronger short-term return pattern than Nifty 50, especially over 3 months and 1 year, but the fund is still young and does not yet have a long track record. Against the listed peers, its 1-year return is much lower, while several longer-horizon peer figures are incomplete, so the comparison points to a different return profile rather than a simple one-line conclusion. The portfolio is concentrated in a few large holdings, including a large short-term fund unit and gold exposure, which can make outcomes more uneven than a plain equity fund.

Published on 16 September 2026 at 4:53 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.