Invesco India Multi Asset Allocation Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Invesco India Multi Asset Allocation Fund Direct Growth Plan closed at ₹12.54 as of 15 Sep 2026, with scheme AUM of ₹1,233 Cr. Its 1-year, 3-year and 5-year returns are 11.47%, 0% and 0%, and the fund sits in the High Risk category. Our view is that this is a multi-asset fund that has held up better over 1 year than over the longer periods, but the short track record means investors should treat the recent numbers as only one part of the picture.

The portfolio mixes gold, overseas equity, domestic equity-linked instruments and select stocks, so it is built for diversification rather than a narrow single-asset outcome. That makes it more suitable for investors who can accept swings in the near term and who want a hybrid allocation with meaningful non-equity exposure alongside growth assets.

Quick facts

Particular	Details
NAV	₹12.54 as of 15 Sep 2026
AUM	₹1,233 Cr
Expense Ratio	0.56%
Launch Date	17 Dec 2024
Min SIP	₹100
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	Taher Badshah, Amey Sathe, Krishna Cheemalapati

The fund is managed by Taher Badshah, Amey Sathe and Krishna Cheemalapati.

Source data date: as of 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.02%	-4.81%
3M	-0.4%	-3.63%
1Y	11.47%	-8.27%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

Over the latest month and quarter, the fund has been weak, but the decline has been milder than the benchmark’s. That matters because it suggests the portfolio has not moved in lockstep with the Nifty 50 over short windows, even though both have been under pressure.

The 1-year picture is stronger. The fund delivered 11.47% while the benchmark fell 8.27%, so the gap is wide and clearly in the fund’s favour. For investors, that tells us the allocation mix has worked better than a plain equity benchmark over this period.

Longer-term performance cannot yet be judged from a full 3-year or 5-year history, because the scheme was launched in December 2024. What we can say is that the trajectory across the year has been uneven but positive overall, with a few softer stretches interrupted by recovery. That pattern is consistent with a multi-asset allocation that may cushion some downside while still participating in rallies, rather than a smooth equity-style compounding path.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD Invesco India Multi Asset Allocation?

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
Invesco India Multi Asset Allocation Fund Direct Growth Plan	11.47%	Data not available	Data not available
360 ONE Multi Asset Allocation Fund Direct Growth Plan	18.8%	Data not available	Data not available
Quant Multi Asset Allocation Fund Direct Growth Plan	17.28%	21.36%	19.89%
Kotak Multi Asset Allocation Fund Direct Growth Plan	16.46%	Data not available	Data not available
DSP Multi Asset Allocation Fund Direct Growth Plan	14.54%	Data not available	Data not available
Bandhan Multi Asset Allocation Fund Direct Growth Plan	13.61%	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 return, the fund trails the stronger peer numbers in this set, with 11.47% versus 18.8%, 17.28%, 16.46%, 14.54% and 13.61%. That makes the recent run respectable, but not as strong as the better peer outcomes.

For 3-year and 5-year numbers, only one peer has available figures, and that peer is ahead on both horizons. Because this scheme is still early in its life, the comparison is less about long-run compounding and more about whether the current approach can keep improving after a mixed start. The short-term peer picture and the limited longer-term picture point in different directions: the fund has beaten the benchmark over 1 year, but it still has work to do versus peers that have compounded more strongly where history exists.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Invesco India Gold Exchange Traded Fund	Domestic Mutual Funds Units – Gold	13.66%
Invesco Us Value Equity Fund – C Acc Shares ##	Overseas Mutual Fund Units	11.86%
ICICI Prudential Nifty Midcap 150 ETF	Domestic Mutual Funds Units	4.96%
Mirae Asset Nifty Midcap 150 ETF	Domestic Mutual Funds Units	4.96%
HDFC Bank Limited	Bank	4.03%
ICICI Bank Limited	Bank	3.95%
ICICI Prudential Silver ETF	Domestic Mutual Funds Units – Silver	3.16%
Invesco India Ultra Short Term Fund – DR GR	Domestic Mutual Funds Units	2.54%
Raajmarg Infra Investment Trust	Reits & Invits	2.46%
Reliance Industries Limited	Crude Oil	2.07%

The largest holding is Invesco India Gold Exchange Traded Fund at 13.66%, which is sizable but not overwhelming on its own. The gap to the tenth holding, Reliance Industries Limited at 2.07%, is steep, so the fund’s visible holdings are clearly layered rather than evenly sized.

The top 10 holdings account for approximately 53.65% of the portfolio, which suggests a meaningful level of concentration in the disclosed positions while still leaving room for the rest of the 39 holdings. That mix may help diversify specific-asset risk, but it also means the largest positions are likely to have greater influence on performance than the smaller names below them.

We also note that the portfolio spans gold, overseas mutual funds, domestic equity instruments, a REIT/InvIT and large banks. That range may smooth some asset-class swings, although the weight profile shows that the strategy still leans on a relatively small set of holdings for a large share of exposure.

To see all holdings, visit the Invesco India Multi Asset Allocation Fund Direct Growth Plan page

Source data date: as of 15 Sep 2026

Who should invest

This fund fits investors who are comfortable with High Risk and can hold through uneven short-term moves. The 1-year outcome is positive and better than the benchmark, but the weaker 1M and 3M results show that the path can still be choppy.

It is better suited to a medium-to-long horizon than to a quick allocation, especially because the scheme is young and does not yet have a 3-year or 5-year record. The main trade-off is that investors get diversification across asset types, but they must accept that returns may not follow a smooth equity-style pattern and may lag stronger peers in some stretches.

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 15 Sep 2026

Frequently asked questions

What is the current NAV of Invesco India Multi Asset Allocation Fund Direct Growth Plan?

The current NAV is ₹12.54 as of 15 Sep 2026.

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

The 1-year return is 11.47%, while the 3-year and 5-year returns are both Data not available in practice because the scheme does not yet have those full track records.

How has the fund performed against the benchmark?

Over 1 year, it has outperformed the Nifty 50, which returned -8.27%. Over 1M and 3M, it also fell less than the benchmark.

How does the fund compare with peer multi-asset funds?

Its 1-year return of 11.47% is below the stronger peer figures in this set, including 18.8%, 17.28%, 16.46%, 14.54% and 13.61%. Where longer periods are available, one peer has higher 3-year and 5-year returns as well.

What is the minimum SIP amount?

The minimum SIP amount is ₹100.

Who manages the fund and what is the exit load?

The fund is managed by Taher Badshah, Amey Sathe and Krishna Cheemalapati. The exit load is nil upto 10% of units and 1% for remaining units on or before 1Y, and nil after 1Y.

Bottom line

This fund’s recent performance is stronger than its benchmark over 1 year, but the short-term swings show that the journey is not smooth. Peer comparisons are mixed: the fund is behind several peers on 1-year return, while the limited longer-horizon comparison also favours the peer with available 3-year and 5-year figures. Its High Risk profile and diversified multi-asset mix make it more suitable for investors who want a blended allocation and can tolerate uneven periods rather than those seeking steady short-term outcomes.

Published on 16 September 2026 at 8:45 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.