Franklin India Medium to Long Term Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Franklin India Medium to Long Term Fund Direct Growth Plan has a NAV of ₹11.3293 as of 10 Sep 2026 and scheme AUM of ₹42 Cr. Its 1-year, 3-year and 5-year returns are 5.58%, 0% and 0%, and the fund carries a Medium Risk label.

Our view is that this is a conservative-leaning debt option with a short live track record since its launch on 24 Sep 2024, so the recent return path matters more than longer-term compounding history. The portfolio is dominated by government securities and a meaningful cash buffer, which may help stability, but the return profile remains modest versus the benchmark in the latest year.

Quick facts

Particular	Details
NAV	₹11.3293 as of 10 Sep 2026
AUM	₹42 Cr
Expense Ratio	0.33%
Launch Date	24 Sep 2024
Min SIP	₹500
Risk Category	Medium Risk
Benchmark	Nifty 50
Fund Category	Debt
Exit Load	No exit load
Fund Managers	Anuj Tagra, Chandni Gupta

The fund is managed by Anuj Tagra and Chandni Gupta.

Source data date: as of 10 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-0.25%	-4.06%
3M	2.07%	1.37%
1Y	5.58%	-7.31%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

In the recent month, the fund was slightly negative while the benchmark fell more sharply, which suggests the portfolio held up better in a weak patch. Over three months, the fund has stayed positive and has also edged ahead of the benchmark, showing a steadier pattern than the index during the same stretch.

The one-year picture is more important here because the fund has not yet built a long public return history. On that horizon, the fund has delivered a positive 5.58% return while the benchmark is down 7.31%, so the fund has clearly protected capital better than the index over the latest 12 months.

The daily pattern behind those numbers points to a relatively contained swing profile rather than a sharp trend. There was a period of weakness during the year, followed by recovery and then a more measured finish, which fits a debt-oriented portfolio that is trying to preserve value rather than chase aggressive upside.

For investors, the main takeaway is that recent behaviour has been more resilient than the benchmark, but the absence of meaningful 3-year and 5-year return history means the latest year carries most of the signal. That makes the fund more of a current-state evaluation than a long-cycle compounding story.

Source data date: as of 10 Sep 2026

Should you BUY or HOLD Franklin India Medium to Long Term?

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 Medium to Long Term Fund Direct Growth Plan	5.58%	Data not available	Data not available
ICICI Pru Medium to Long Term Fund Direct Growth Plan	5.36%	7.31%	6.38%
Kotak Medium to Long Term Fund Direct Growth Plan	5.31%	7.24%	6.2%
LIC MF Medium to Long Term Fund Direct Growth Plan	5.27%	7.4%	6.3%
SBI Medium to Long Term Fund Direct Growth Plan	5.21%	7%	6.25%

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

On the latest one-year number, this fund is ahead of the peer set shown here, but the margin is narrow and the cluster is tight. The more important contrast is that the other funds have usable 3-year and 5-year numbers in the mid-to-high single digits, while this fund does not yet have comparable long-horizon figures available in the table.

That creates two different stories: the recent return holds up well, but the longer-horizon picture remains incomplete for this scheme. For a debt investor, that means the current reading is encouraging on short-term resilience, yet it still lacks the longer compounding evidence that is visible for the better-established peer funds.

Source data date: as of 10 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
7.86% Haryana SDL (29-Jun-2032)	Government Securities	12.23%
7.02% Punjab SDL (01-Jul-2030)	Government Securities	11.86%
Call, Cash & Other Assets	Cash & Cash Equivalents and Net Assets	10.63%
7.15% Tamil Nadu SDL (22-Jan-2035)	Government Securities	8.23%
0.00% Jubilant Bevco Ltd (31-May-2028) **	Corporate Debt	7.47%
8.42% Andhra Pradesh SDL (08-Aug-2029)	Government Securities	7.36%
7.66% Maharashtra SDL (04-Mar-2047)	Government Securities	7.32%
0.00% Jubilant Beverages Ltd (31-May-2028) **	Corporate Debt	6.89%
7.14% Jammu & Kashmir SDL (29-Dec-2036)	Government Securities	6.6%
7.79% West Bengal SDL (18-Mar-2045)	Government Securities	6.15%

The top 10 holdings account for approximately 84.74% of the portfolio.

To see all holdings, visit the Franklin India Medium to Long Term Fund Direct Growth Plan page

The largest holding is 7.86% Haryana SDL (29-Jun-2032) at 12.23%, so it is large enough to matter but not so dominant that one line item alone drives the portfolio. The drop from the first holding to the tenth is fairly gradual, moving from 12.23% down to 6.15%, which suggests a clustered portfolio rather than one built around a single outsized position.

We also note that the displayed holdings already cover 84.74% of the portfolio across 14 disclosed positions, so the visible sleeve is concentrated but not extremely narrow. Government securities take most of the spotlight, with cash and a couple of corporate debt names adding diversification, which may help reduce dependence on one issuer or one maturity bucket.

Because several holdings sit in a mid-single-digit band, the portfolio could have greater influence from the broad rate and credit backdrop than from any single line item. That balance may suit investors who want a debt allocation with clear positioning and moderate concentration, rather than a highly fragmented book.

Source data date: as of 10 Sep 2026

Who should invest

This fund may suit investors who are comfortable with Medium Risk debt exposure and who can stay invested long enough to let the portfolio’s stability show through market phases. The one-year return has been positive and better than the benchmark, but the scheme’s short track record means the evidence is still building.

The main trade-off is straightforward: you may get steadier behaviour than the benchmark in weaker stretches, but you should not expect the kind of long, established return record that older peer funds can show. That makes it more relevant for investors who want a conservative-leaning medium-to-long-term allocation and can accept limited history in exchange for current resilience.

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: No exit load.

Source data date: as of 10 Sep 2026

Frequently asked questions

What is the current NAV of Franklin India Medium to Long Term Fund Direct Growth Plan?

The current NAV is ₹11.3293 as of 10 Sep 2026.

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

The fund’s 1-year return is 5.58%, while the 3-year and 5-year returns are Data not available.

How has the fund performed versus the benchmark?

It has done better than the benchmark over 1 month, 3 months and 1 year. The 1-year benchmark return is -7.31%, compared with the fund’s 5.58%.

How does it compare with similar peer funds on 1-year returns?

Its 1-year return of 5.58% is slightly higher than the peer figures shown for ICICI Pru Medium to Long Term Fund Direct Growth Plan, Kotak Medium to Long Term Fund Direct Growth Plan, LIC MF Medium to Long Term Fund Direct Growth Plan and SBI Medium to Long Term 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 Anuj Tagra and Chandni Gupta. There is no exit load.

Bottom line

Franklin India Medium to Long Term Fund Direct Growth Plan looks better on recent resilience than on long-history compounding, which is important because the scheme is still relatively young. Its one-year return has held up well against the benchmark and is slightly ahead of the nearby peer set, while the portfolio leans heavily on government securities and cash-like assets. That mix may support stability, but investors should view it as a medium-risk debt allocation with limited track record rather than a fully proven long-term story.

Published on 11 September 2026 at 5:48 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.