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

Baroda BNP Paribas Multi Asset Fund Direct Growth Plan has a NAV of ₹16.7829 as of 17 Sep 2026 and a scheme AUM of ₹1,486 Cr. Its 1-year, 3-year and 5-year returns are 5.64%, 13.76% and Data not available, and the risk category is High Risk. Our view is that the fund suits investors who can tolerate pronounced swings and want a multi-asset allocation that has still delivered positive medium-term compounding, even though the very recent pattern has been softer than the 3-year trend.

It is not a low-volatility holding, but the combination of equity, gold-linked exposure and cash-like positions can make the return pattern behave differently from a plain equity fund. That mix may appeal more to patient investors than to anyone looking for smooth short-term outcomes.

Quick facts

Particular	Details
NAV	₹16.7829 as of 17 Sep 2026
AUM	₹1,486 Cr
Expense Ratio	0.88%
Launch Date	19 Dec 2022
Min SIP	₹250
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Hybrid
Exit Load	Nil upto 10% of units and 1% for remaining units on or before 12M, Nil after 12M
Fund Managers	Jitendra Sriram, Kushant Arora, Vikram Pamnani

The fund is managed by Jitendra Sriram, Kushant Arora and Vikram Pamnani.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.13%	-3.66%
3M	-1.09%	-3.71%
1Y	5.64%	-7.13%
3Y	13.76%	5.82%
5Y	Data not available	Data not available

Recent performance has been mixed rather than one-way. Over 1 month and 3 months, the fund was negative, but it still held up better than the benchmark in both periods. That tells us the portfolio has not been immune to short-term pressure, yet it has recently done a better job of limiting downside than the benchmark index.

The 1-year figure gives a more constructive picture. The fund returned 5.64% while the benchmark was down 7.13%, which is a clear gap in the fund’s favour. This is important because it shows the fund has been able to outperform in a difficult benchmark environment even without a straight-line path.

The 3-year return of 13.76% is the stronger longer-term signal. The benchmark’s 3-year return of 5.82% is positive too, but the fund’s pace has been materially better. That said, the recent weakness in the 1-month and 3-month numbers suggests the fund can still be choppy, so the longer-term trend is better viewed as uneven compounding rather than steady monthly progress.

For investors, the main takeaway is that the fund has shown an ability to stay ahead of the benchmark over the medium term, but short-term volatility remains part of the experience. The 5-year figure is not available because the scheme has not been in market long enough for a full five-year track record.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD Baroda BNP Paribas Multi Asset?

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 Fund Direct Growth Plan	5.64%	13.76%	Data not available
360 ONE Multi Asset Allocation Fund Direct Growth Plan	18.54%	Data not available	Data not available
Quant Multi Asset Allocation Fund Direct Growth Plan	14.8%	21.38%	19.38%
Kotak Multi Asset Allocation Fund Direct Growth Plan	14.1%	Data not available	Data not available
Bandhan Multi Asset Allocation Fund Direct Growth Plan	12.25%	Data not available	Data not available
DSP Multi Asset Allocation Fund Direct Growth Plan	12.2%	Data not available	Data not available

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

On 1-year returns, the fund trails the stronger peer numbers in this set, especially 360 ONE Multi Asset Allocation Fund Direct Growth Plan at 18.54% and Quant Multi Asset Allocation Fund Direct Growth Plan at 14.8%. Its own 5.64% return is still positive, but it sits well below the higher recent gains shown by the leading peers here.

The longer-term picture is more balanced. The fund’s 3-year return of 13.76% is below Quant’s 21.38%, yet it is still a solid medium-term outcome and clearly stronger than the fund’s short-term patch. Because several peers do not have 3-year or 5-year figures available, the comparison tells two different stories: the fund is less striking on recent return momentum than some peers, but its 3-year number still shows a credible compounding record.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Nippon India ETF Gold Bees	Domestic Mutual Funds Units – Gold	7.79%
Baroda BNP Paribas Gold Etf-Rg	Domestic Mutual Funds Units – Gold	7.06%
ICICI Bank Limited	Bank	4.75%
Clearing Corporation of India Ltd	Cash & Cash Equivalents and Net Assets	4.33%
HDFC Bank Limited	Bank	3.99%
Hitachi Energy India Limited	Capital Goods	3.99%
Reliance Industries Limited	Crude Oil	3.87%
Larsen & Toubro Limited	Infrastructure	3.55%
Bharti Airtel Limited	Telecom	2.41%
Eternal Limited	Retailing	2.1%

The largest holding is Nippon India ETF Gold Bees at 7.79%, which is sizeable but not dominant on its own. The next few positions are also meaningful, especially the second gold-linked holding at 7.06% and the bank and infrastructure names that follow. That mix suggests the portfolio may be built around several mid-sized positions rather than one overwhelming anchor.

The drop from the first holding to the tenth is gradual rather than abrupt. The tenth position still carries a 2.1% weight, so the visible basket remains diversified across different assets and sectors even at the top of the list. At the same time, the top 10 holdings together account for approximately 43.84% of the portfolio, which means a large part of the scheme still sits beyond the headline names.

With 62 disclosed holdings, the fund appears to spread risk across a fairly long tail. That structure may reduce dependence on any single stock, but the top names can still have a noticeable effect on returns because several holdings are in the 3% to 8% range.

To see all holdings, visit the Baroda BNP Paribas Multi Asset Fund Direct Growth Plan page

Source data date: as of 17 Sep 2026

Who should invest

This fund may suit investors with a high tolerance for risk and a horizon long enough to ride through uneven stretches. The High Risk label matters here because the fund has shown both positive medium-term compounding and recent short-term weakness, which means the path can be bumpy.

It looks more appropriate for someone who is comfortable with a multi-asset approach and does not expect every month to be positive. The trade-off is that the fund may offer better diversification than a single-asset equity fund, but the return pattern can still swing around enough to test short-term patience.

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 is nil for up to 10% of units, while the remaining units attract 1% if redeemed within 12 months. After 12 months, there is no exit load.

Source data date: as of 17 Sep 2026

Frequently asked questions

What is the current NAV of Baroda BNP Paribas Multi Asset Fund Direct Growth Plan?
Its NAV is ₹16.7829 as of 17 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 5.64% and its 3-year return is 13.76%. The 5-year return is Data not available because the scheme does not have a full five-year track record.

How has the fund done against the benchmark?
It has outpaced the Nifty 50 over the 1-year and 3-year periods shown. The fund returned 5.64% over 1 year and 13.76% over 3 years, while the benchmark returned -7.13% and 5.82% over the same periods.

How does it compare with peer funds on recent returns?
Its 1-year return is lower than several peers in the comparison set, including 360 ONE Multi Asset Allocation Fund Direct Growth Plan at 18.54% and Quant Multi Asset Allocation Fund Direct Growth Plan at 14.8%. Its 3-year return of 13.76% is also below Quant’s 21.38%, but it remains a meaningful medium-term result.

Is there a minimum SIP amount?
No minimum SIP amount is stated in the available fund facts, so we have not listed one here.

Who manages the fund, and what is the exit load?
The fund is managed by Jitendra Sriram, Kushant Arora and Vikram Pamnani. Exit load is nil for up to 10% of units and 1% for the remaining units if sold within 12 months; after 12 months, there is no exit load.

Bottom line

Baroda BNP Paribas Multi Asset Fund Direct Growth Plan has a more uneven recent run than its 3-year track record suggests, but the medium-term result is still ahead of the benchmark. Against peers, its short-term return is weaker than several of the better recent numbers, while the longer-term picture remains respectable. The High Risk profile, a meaningful gold tilt in the top holdings and a fairly broad 62-holding portfolio make it a fund for investors who can stay patient through volatility rather than expect smooth monthly gains.

Published on 18 September 2026 at 8:43 AM 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.