Edelweiss ASEAN Equity Off-Shore Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Edelweiss ASEAN Equity Off-Shore Fund Direct Growth Plan currently has a NAV of ₹43.252 as of 09 Sep 2026 and an AUM of ₹164 Cr. Its 1-year, 3-year and 5-year returns are 23.94%, 17.71% and 11.51%, and the scheme is tagged High Risk. Our view is that this is a focused overseas fund-of-fund with a narrow underlying holding set, so it may suit investors who can accept higher volatility for long-term exposure rather than those looking for a smooth domestic equity allocation.

The recent return pattern has been stronger than the benchmark in every tracked period, but the portfolio structure is concentrated, which can amplify both upside and drawdown. That combination makes the fund more relevant for investors with a longer horizon and a clear understanding of overseas equity risk.

Quick facts

Particular	Details
NAV	₹43.252 as of 09 Sep 2026
AUM	₹164 Cr
Expense Ratio	1.66%
Launch Date	02 Jan 2013
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Fund of Fund
Exit Load	1% on or before 90D, Nil after 90D
Fund Managers	Bhavesh Jain, Bharat Lahoti

The fund is managed by Bhavesh Jain and Bharat Lahoti.

Source data date: as of 09 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-0.3%	-4.06%
3M	9.22%	1.37%
1Y	23.94%	-7.31%
3Y	17.71%	6.07%
5Y	11.51%	5.91%

Short-term movement has improved, but it has not been linear. The 1-month path was slightly negative, while the 3-month and 1-year readings were clearly stronger, which suggests the fund recovered after a choppy spell rather than moving in a straight line. That matters because this is an overseas strategy, and the path of returns has been more important than any one data point.

Against the benchmark, the fund has stayed ahead across every tracked period shown here. The gap is especially visible over 1 year, where the benchmark was negative while the fund was comfortably positive. Even over 3 years and 5 years, the fund has held a lead, although the spread is narrower in the 5-year figure than in the very recent numbers.

The longer pattern is therefore one of moderate compounding with noticeable swings along the way. The 3-year and 5-year trends are positive, but the recent improvement appears stronger than the broader 5-year pace. For us, that points to a fund that can participate in rallies, yet still needs patience when overseas markets are uneven.

Source data date: as of 09 Sep 2026

Should you BUY or HOLD Edelweiss ASEAN Equity Off-Shore?

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
Edelweiss ASEAN Equity Off-Shore Fund Direct Growth Plan	23.94%	17.71%	11.51%
Edelweiss Emerging Markets Opp Eq. Offshore Fund Direct Growth Plan	55.7%	29.52%	11.97%
HSBC Global Emerging Markets Fund Direct Growth Plan	52.99%	29.63%	12.76%
Kotak Global Emerging Market Overseas Equity Active FOF Direct Growth Plan	46%	27.35%	12.66%
HSBC Asia Pacific (Ex Japan) DYF Direct Growth Plan	39.66%	28.4%	15.47%
HSBC Brazil Fund Direct Growth Plan	36.09%	16.75%	9.97%

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

On the 1-year view, the fund trails the fastest peer numbers in this set, but it still stands well above the lower end of the group. That tells us its recent strength is real, though not the most aggressive among comparable overseas options. The 3-year figure is also below the strongest peer readings, while the 5-year return sits in the middle of the visible range and is better than some peers with similar overseas exposure. Short-term comparison therefore looks weaker than the most energetic peers, but the longer-term picture is steadier.

Source data date: as of 09 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
JPM Asean Equity-I Acc Usd	Overseas Mutual Fund Units	96.13%
Clearing Corporation of India Ltd.	Cash & Cash Equivalents and Net Assets	3.91%

The largest holding is JPM Asean Equity-I Acc Usd at 96.13%, so the portfolio is overwhelmingly shaped by a single underlying fund exposure. That is a meaningful concentration point because even modest movement in that holding is likely to dominate the scheme’s daily behaviour.

Weight falls sharply from the first holding to the second, which leaves very little room for diversification within the disclosed portfolio. With only two visible holdings and a combined disclosed weight of 100%, the structure looks highly focused rather than spread across many separate positions. In practical terms, the fund may move more like a concentrated overseas strategy than a broad basket of stocks.

That concentration can work both ways. It may help the fund reflect the underlying overseas theme closely, but it could also make the scheme more sensitive to the path of a single underlying allocation. For investors, the key point is that the portfolio is simple, but not diversified in the usual multi-holding sense.

Source data date: as of 09 Sep 2026

Who should invest

This fund fits investors who can handle High Risk exposure and are comfortable with overseas equity movements. The return pattern suggests it works better for a longer horizon, because shorter periods have been uneven even though the 1-year, 3-year and 5-year numbers are all positive.

The main trade-off is between access to a focused ASEAN-linked overseas strategy and a portfolio that is heavily concentrated in one underlying fund. Investors looking for smoother domestic equity behaviour may find the benchmark comparison and portfolio structure less reassuring, while those seeking a distinct overseas satellite exposure may view the same features as acceptable.

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 90D, Nil after 90D; no exit load after the holding period.

Source data date: as of 09 Sep 2026

Frequently asked questions

What is the current NAV of Edelweiss ASEAN Equity Off-Shore Fund Direct Growth Plan?
The current NAV is ₹43.252 as of 09 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 23.94%, the 3-year return is 17.71%, and the 5-year return is 11.51%.

How does the fund compare with Nifty 50?
It has outperformed Nifty 50 in every tracked period shown here. The gap is widest over 1 year, while the 5-year lead is narrower.

How does it compare with the peer funds shown here?
Its recent and medium-term returns are below the strongest peer readings in this group, but its 5-year return sits in the middle of the visible peer range. The short-term and longer-term comparisons do not tell exactly the same story.

What is the minimum SIP amount?
The fund does not list a minimum SIP amount in the information available for this review, so we are not stating one here.

Who manages the fund and what is the exit load?
The fund is managed by Bhavesh Jain and Bharat Lahoti. The exit load is 1% on or before 90D, and there is no exit load after 90D.

Bottom line

The fund’s recent return profile is stronger than its benchmark and broadly supportive of its longer-term positive track record, but the path has been uneven. Compared with the visible peer set, the short-term numbers are less forceful than the best overseas performers, while the 5-year figure remains respectable rather than standout. The main portfolio feature is concentration: one underlying holding dominates the scheme, so the fund is likely to behave more like a focused overseas allocation than a diversified multi-holding product.

Published on 11 September 2026 at 10:13 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.