Franklin India Aggressive Hybrid Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Franklin India Aggressive Hybrid Fund Direct Growth Plan has a NAV of ₹309.3199 as of 03 Sep 2026 and manages ₹2,363 Cr. Its 1-year, 3-year and 5-year returns are 0.67%, 10.6% and 9.93%, and the scheme sits in the High Risk category. Our view is that this is a fund for investors who can accept equity-led swings in search of steadier long-run participation than the benchmark, with portfolio construction that mixes banks, corporate debt and select large companies.

That combination makes the fund less about short bursts of outperformance and more about balancing aggressive hybrid exposure with a meaningful debt sleeve. Recent returns have been soft, but the 3-year and 5-year figures still show the fund has compounded at a moderate pace over time.

Quick facts

Particular	Details
NAV	₹309.3199 as of 03 Sep 2026
AUM	₹2,363 Cr
Expense Ratio	0.92%
Launch Date	01 Jan 2013
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Hybrid
Exit Load	Nil upto 10% of units on or before 1Y, For excess units 1% on or before 1Y & Nil after 1Y
Fund Managers	Rajasa Kakulavarapu, Ajay Argal, Chandni Gupta, Anuj Tagra

The fund is managed by Rajasa Kakulavarapu, Ajay Argal, Chandni Gupta, and Anuj Tagra.

Source data date: as of 03 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-1.12%	-3.01%
3M	3.74%	1.95%
1Y	0.67%	-4.4%
3Y	10.6%	5.74%
5Y	9.93%	6.27%

The recent pattern has been mixed. Over 1 month, the fund fell less than the benchmark, which points to some resilience in a weak stretch. Over 3 months, it moved ahead of the benchmark, showing a better short-term rebound than the index.

The 1-year figure is modest at 0.67%, but it is still ahead of the benchmark’s negative 1-year return. That tells us the fund handled a difficult year better than the index, even though the absolute gain remained small.

The longer view is more constructive. The 3-year return of 10.6% and 5-year return of 9.93% both sit above the benchmark, which suggests the fund has delivered a stronger compounding path than the index across fuller market cycles. The daily pattern behind those longer figures also looks uneven rather than smooth, so investors should expect fluctuations along the way.

Our view is that the fund’s recent softness does not erase the longer-term edge over the benchmark, but it does show that this edge has not come in a straight line. The mix of equity and debt appears to have helped keep the long-run profile steadier than an all-equity index, while still leaving enough volatility for short-term periods to remain choppy.

Source data date: as of 03 Sep 2026

Should you BUY or HOLD Franklin India Aggressive Hybrid?

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.

Already holding Franklin India Aggressive Hybrid? Thinking of investing now?

Get your portfolio analysed for FREE by SEBI-registered Investment Adviser (RIA) through Univest MF Premium

Peer comparison

Fund	1Y return	3Y return	5Y return
Franklin India Aggressive Hybrid Fund Direct Growth Plan	0.67%	10.6%	9.93%
HSBC Multi Asset Active FOF Direct Growth Plan	16.39%	15.84%	12.47%
Bank of India Aggressive Hybrid Fund Direct Growth Plan	15.68%	18.01%	15.26%
Quant Aggressive Hybrid Fund Direct Growth Plan	12.37%	13.89%	13.28%
Navi Aggressive Hybrid Fund Direct Growth Plan	11.3%	12.83%	11.82%
HSBC Aggressive Hybrid Active FOF Direct Growth Plan	9.73%	13.11%	11.16%

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

The fund’s 1-year return is far below the stronger peer figures, even though it is still better than the benchmark over the same period. That makes the recent picture look subdued when measured against other hybrid options.

The 3-year and 5-year numbers are also below the stronger peer return ranges available here, so the fund has not kept pace with the better long-run outcomes in this group. Even so, the gap is less dramatic over the longer horizon than it is over 1 year, which suggests the short-term story is weaker than the multi-year story.

In our view, the peer set sends two messages at once: the fund has done better than the benchmark, but several peer funds have compounded more strongly across both medium and long horizons. That is useful context for investors who want to judge whether the fund’s steadier benchmark-relative path is worth accepting lower recent momentum.

Source data date: as of 03 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
HDFC Bank Ltd	Bank	4.75%
0.00% Jubilant Bevco Ltd (31-May-2028) **	Corporate Debt	4.7%
State Bank of India	Bank	3.48%
ICICI Bank Ltd	Bank	3.46%
Axis Bank Ltd	Bank	3.12%
0.00% Jubilant Beverages Ltd (31-May-2028) **	Corporate Debt	2.88%
Reliance Industries Ltd	Crude Oil	2.63%
Call, Cash & Other Assets	Cash & Cash Equivalents and Net Assets	2.61%
Mahindra & Mahindra Ltd	Automobile & Ancillaries	2.26%
Bharti Airtel Ltd	Telecom	2.23%

The top 10 holdings account for approximately 32.12% of the portfolio.

To see all holdings, visit the Franklin India Aggressive Hybrid Fund Direct Growth Plan page

The largest holding, HDFC Bank Ltd, is 4.75%, which is large enough to matter but not so large that one position dominates the fund. The next few positions remain close together in size, and the tenth holding is still above 2%, so the visible book does not show a sharp drop-off after the first holding.

That pattern suggests influence may be spread across a cluster of positions rather than concentrated in one or two outsized bets. The presence of both bank stocks and corporate debt securities also means the visible portfolio is not a pure equity basket.

Because the top 10 holdings make up 32.12% of the portfolio and there are 67 disclosed holdings in total, the fund appears to have a long tail beyond the largest names. In our view, that mix may reduce dependence on any single holding, while still leaving the largest banks likely to have greater influence on near-term movement.

Source data date: as of 03 Sep 2026

Who should invest

This fund suits investors who can handle High Risk exposure and want a hybrid allocation with a meaningful equity component. The 1-year result has been weak, but the 3-year and 5-year figures are more stable and sit above the benchmark, which points to a fund that may reward patience more than short holding periods.

It fits a medium-to-long investment horizon better than a tactical one. The main trade-off is that investors may accept uneven short-term performance in exchange for a portfolio that has shown better multi-year behaviour than the index and a structure that is not fully dependent on equity alone.

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

Nil upto 10% of units on or before 1Y, for excess units 1% on or before 1Y, and nil after 1Y.

Source data date: as of 03 Sep 2026

Frequently asked questions

What is the current NAV of Franklin India Aggressive Hybrid Fund Direct Growth Plan?

The current NAV is ₹309.3199 as of 03 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?

The fund’s returns are 0.67% over 1 year, 10.6% over 3 years and 9.93% over 5 years.

How has the fund performed versus the benchmark?

It has stayed ahead of the benchmark over 1 year, 3 years and 5 years, although the margin has been modest in the most recent year.

How does it compare with the listed peer funds?

Its 1-year, 3-year and 5-year figures are below several of the listed peer returns, especially on the latest 1-year number. The longer-term gap is smaller than the short-term gap, but the peers shown here have generally compounded more strongly.

Is there a minimum SIP amount?

The minimum SIP amount is ₹500.

What risk level and portfolio shape does this fund have?

The fund is in the High Risk category and its top holdings include HDFC Bank Ltd, several other banks, and two corporate debt positions. The top 10 holdings account for 32.12% of the portfolio, which suggests a spread across many holdings beyond the largest names.

Published on 4 September 2026 at 11:33 AM IST

Explore mutual funds with Univest

Review mutual fund data, compare performance and explore fund insights on Univest.

Explore Univest

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.