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

Franklin India Balanced Advantage Fund Direct Growth Plan has a NAV of ₹15.1914 as of 16 Sep 2026 and a scheme AUM of ₹2,822 Cr. Its 1-year, 3-year and 5-year returns are -0.14%, 9.3% and 0%, and the fund carries a High Risk label.

Our view is that this is a mixed profile: the 3-year record is better than the very recent 1-year outcome, but the 5-year figure does not yet show a full long-run track record. The portfolio also holds a meaningful share in debt and bank names, which can influence how the fund behaves when markets move unevenly.

Quick facts

Particular	Details
NAV	₹15.1914 as of 16 Sep 2026
AUM	₹2,822 Cr
Expense Ratio	0.47%
Launch Date	06 Sep 2022
Min SIP	₹500
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 1Y, Nil after 1Y
Fund Managers	Rajasa Kakulavarapu, Venkatesh Sanjeevi, Chandni Gupta, Anuj Tagra

The fund is managed by Rajasa Kakulavarapu, Venkatesh Sanjeevi, Chandni Gupta and Anuj Tagra.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.48%	-4.41%
3M	-0.09%	-3.6%
1Y	-0.14%	-7.76%
3Y	9.3%	5.74%
5Y	Data not available	Data not available

The recent pattern is softer than the 3-year trend. Over 1 month and 3 months, the fund was mildly negative, which suggests short-term pressure, but it still held up better than the benchmark in both periods. Over 1 year, the fund was slightly negative while the benchmark was more weakly placed, so the fund preserved more value than the index even though it did not generate a positive trailing return.

The 3-year result is the clearest strength in the current record. A 9.3% return versus 5.74% for the benchmark shows that the fund has added more than the index over that horizon. That said, the move from a stronger 3-year number to a flat-to-negative 1-year reading tells us the recent phase has been less supportive than the longer run.

From a compounding perspective, the pattern is not smooth. The return path recovered after earlier weakness, then gave back part of that progress in the more recent periods. For an investor, that usually means the fund may behave better over time than in a single short stretch, but it has not delivered a steady line of gains.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD Franklin India Balanced Advantage?

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
Franklin India Balanced Advantage Fund Direct Growth Plan	-0.14%	9.3%	Data not available
Unifi Dynamic Asset Allocation Fund Direct Growth Plan	8.6%	Data not available	Data not available
Aditya Birla SL Balanced Advantage Fund Direct Growth Plan	5.17%	10.96%	9.97%
Baroda BNP Paribas Balanced Advantage Fund Direct Growth Plan	4.23%	11.11%	10.62%
360 ONE Balanced Hybrid Fund Direct Growth Plan	3.64%	Data not available	Data not available
Bank of India Balanced Advantage Fund Direct Growth Plan	3.62%	8.24%	10.21%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the one-year view, the fund trails the stronger peer results shown here, with Unifi Dynamic Asset Allocation Fund Direct Growth Plan at 8.6% and the balanced-advantage peers from Aditya Birla SL and Baroda BNP Paribas also ahead on the same period. That weak recent showing sits alongside a stronger 3-year result, where the fund’s 9.3% is better than Bank of India’s 8.24% but below the 10.96% and 11.11% marks of the two named peers with available longer-term figures.

The peer set therefore tells two different stories. Short-term, the fund has lagged several alternatives; over three years, it looks more resilient and closer to the better outcomes in the group. The absence of a usable 5-year figure for this fund also means the longer record is still less complete than for some peers, so the current comparison leans more heavily on the 1-year and 3-year numbers.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
0.00% Jubilant Bevco Ltd (31-May-2028) **	Corporate Debt	4.71%
HDFC Bank Ltd # ~~	Bank	3.78%
ICICI Bank Ltd ^ ~~	Bank	3.64%
Bharti Airtel Ltd !! ~~	Telecom	3.59%
0.00% Jubilant Beverages Ltd (31-May-2028) **	Corporate Debt	2.93%
Axis Bank Ltd ! ~~	Bank	2.65%
State Bank of India	Bank	2.63%
Larsen & Toubro Ltd	Infrastructure	2.58%
Mahindra & Mahindra Ltd	Automobile & Ancillaries	2.21%
Reliance Industries Ltd $ ^ ~~	Crude Oil	2.19%

The largest disclosed holding is 0.00% Jubilant Bevco Ltd (31-May-2028) ** at 4.71%, which is a meaningful single position but not an outsized one on its own. The next few positions are close together in the 2.19% to 3.78% range, so the fund does not rely on one dominant equity name to carry the portfolio.

The fall from the largest holding to the tenth is fairly gradual, moving from 4.71% to 2.19%. That shape suggests the visible part of the portfolio is spread across several positions rather than concentrated in just one or two names. The top 10 holdings together account for approximately 30.91% of the portfolio, while the full disclosed list contains 74 holding rows, so a longer tail of smaller positions likely matters as well.

That mix may dampen the influence of any single holding, although the first few positions could still have noticeable impact because they are the largest. The presence of both corporate debt and bank exposure among the biggest names also means the portfolio may respond differently from a pure equity fund in periods when credit-sensitive and market-linked assets move in different directions.

To see all holdings, visit the Franklin India Balanced Advantage Fund Direct Growth Plan page

Source data date: as of 16 Sep 2026

Who should invest

This fund suits investors who can accept High Risk and are comfortable with a return pattern that has improved over three years but turned softer over the most recent year. The benchmark comparison shows that it has held up better than the Nifty 50 in the shorter windows, while the peer comparison shows a weaker one-year finish but a more credible three-year run.

That combination points to a medium-to-longer horizon rather than a short holding period. The main trade-off is that the fund may offer better resilience than the benchmark in difficult patches, but the recent numbers show that this does not come with smooth short-term compounding.

The portfolio also has meaningful exposure to banks and a few debt-linked names among the largest positions, so the path of returns may differ from a plain equity scheme. Investors who want a balanced-advantage style allocation and can tolerate uneven near-term outcomes may find the profile worth studying further.

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 and 1% for remaining units on or before 1Y, Nil after 1Y.

Source data date: as of 16 Sep 2026

Frequently asked questions

What is the current NAV of Franklin India Balanced Advantage Fund Direct Growth Plan?

The current NAV is ₹15.1914 as of 16 Sep 2026.

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

The fund’s 1-year return is -0.14%, its 3-year return is 9.3% and its 5-year return is 0%.

How does the fund compare with the benchmark?

It has beaten the Nifty 50 over 1 month, 3 months, 1 year and 3 years. The 3-year gap is the most meaningful, with the fund at 9.3% versus the benchmark at 5.74%.

How does it compare with peer funds on recent returns?

Its 1-year return is below the stronger peer figures shown here, while its 3-year return is ahead of Bank of India Balanced Advantage Fund Direct Growth Plan and below Aditya Birla SL Balanced Advantage Fund Direct Growth Plan and Baroda BNP Paribas Balanced Advantage Fund Direct Growth Plan.

What is the minimum SIP amount?

The minimum SIP amount is ₹500.

Who manages the fund and what is the exit load?

The fund is managed by Rajasa Kakulavarapu, Venkatesh Sanjeevi, Chandni Gupta and Anuj Tagra. The exit load is Nil upto 10% of units and 1% for remaining units on or before 1Y, and Nil after 1Y.

Bottom line

Franklin India Balanced Advantage Fund Direct Growth Plan looks uneven in the short term but more constructive over three years. The recent 1-year result is softer than the longer run, yet the fund has still held up better than the benchmark in the shorter windows and has a 3-year record that compares well with several peers. The portfolio leans on a mix of debt and bank-heavy positions, which may shape its behaviour in different market phases. That makes it more suitable for investors who can tolerate High Risk and are looking beyond short-term consistency.

Published on 17 September 2026 at 4:11 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.