ITI Value Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

ITI Value Fund Direct Growth Plan has a NAV of ₹18.4784 as of 16 Sep 2026 and a scheme AUM of ₹363 Cr. Its 1-year, 3-year and 5-year returns are 2.38%, 12.22% and 12.15%, and the scheme carries a High Risk label. Our view is that it has delivered a steadier long-term pattern than its recent 1-year stretch, but the latest outcome remains modest. That makes it more suitable for investors who are comfortable with equity volatility and want a value-oriented portfolio over a longer horizon.

The fund is not a low-volatility choice. With a benchmark of Nifty 50 and a portfolio spread across 71 holdings, it can suit investors who are willing to accept uneven shorter-term movement in exchange for a more patient holding period.

Quick facts

Particular	Details
NAV	₹18.4784 as of 16 Sep 2026
AUM	₹363 Cr
Expense Ratio	0.57%
Launch Date	14 Jun 2021
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	0.50% on or before 3M, NIL after 3M
Fund Managers	Nilay Dalal, Dhimant Shah

The fund is managed by Nilay Dalal and Dhimant Shah.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.42%	-4.41%
3M	-1.45%	-3.6%
1Y	2.38%	-7.76%
3Y	12.22%	5.74%
5Y	12.15%	5.67%

The recent trend is softer than the medium-term record. Over 1 month and 3 months, the fund stayed negative, but it still held up better than the benchmark in both windows. That relative resilience matters because it shows the portfolio has not been tracking the market in a plain-vanilla way.

The 1-year figure is the weakest part of the profile. At 2.38%, the fund has been positive, but the benchmark moved lower over the same period, so the fund did better than Nifty 50 even in a difficult market phase. That said, the absolute return is still subdued for an equity scheme and does not match the stronger 3-year and 5-year record.

Longer-term, the picture improves meaningfully. The 3-year return of 12.22% and the 5-year return of 12.15% both stand well above the benchmark’s 5.74% and 5.67%. Our read-through is that the strategy has rewarded patience, even though the short-term path has been uneven. The time pattern also suggests that investors may need to accept periods of lag before the longer compounding profile shows up.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD ITI Value?

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
ITI Value Fund Direct Growth Plan	2.38%	12.22%	12.15%
LIC MF Value Fund Direct Growth Plan	17.5%	15.81%	13.33%
Quant Value Fund Direct Growth Plan	14.59%	19.39%	Data not available
Aditya Birla SL Value Fund Direct Growth Plan	10.2%	13.21%	13.75%
Mahindra Manulife Value Fund Direct Growth Plan	8.65%	Data not available	Data not available
Axis Value Fund Direct Growth Plan	6.14%	17.07%	Data not available

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

On the latest 1-year number, the fund trails the stronger peer returns shown here, especially LIC MF Value Fund Direct Growth Plan and Quant Value Fund Direct Growth Plan. That gap is visible even though the fund still beat the benchmark over the same period.

The longer record is more balanced. Its 3-year and 5-year returns are ahead of the benchmark and sit in the same broad range as some peers, though several peers have posted stronger 1-year or 3-year numbers. The short-term and long-term comparisons therefore tell different stories: the recent stretch looks modest, while the multi-year record remains constructive.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
HDFC Bank Limited	Bank	3.71%
Reliance Industries Limited	Crude Oil	3.38%
Net Receivables / (Payables)	Cash & Cash Equivalents and Net Assets	2.57%
Shriram Finance Limited	Finance	2.32%
Bharat Heavy Electricals Limited	Capital Goods	2.24%
Craftsman Automation Limited	Automobile & Ancillaries	2.2%
Axis Bank Limited	Bank	2.15%
ITC Limited	FMCG	2.1%
Turtlemint Fintech Solutions Limited	Domestic Equities	2.1%
ICICI Bank Limited	Bank	2.04%

The largest disclosed holding, HDFC Bank Limited, is 3.71%, which is meaningful but not dominant on its own. The gap from the first holding to the tenth holding is not dramatic, because the tenth position still carries 2.04% weight. That tells us the portfolio is not built around a single oversized bet at the top.

The top 10 holdings together account for approximately 24.81% of the portfolio, and the fund discloses 71 holdings in total. Our view is that this points to a spread-out structure with a long tail rather than a tight, heavily concentrated core. The listed positions may influence returns, but the overall mix suggests no single stock is likely to drive the entire outcome by itself.

That structure can help reduce dependence on one or two names, although it may also mean the fund needs several positions to work together before the portfolio shows a strong finish. For an investor, the important point is that the holding pattern looks diversified within the disclosed core, while still allowing individual stock selection to matter.

To see all holdings, visit the ITI Value Fund Direct Growth Plan page

Source data date: as of 16 Sep 2026

Who should invest

This fund fits investors who can tolerate High Risk equity swings and are comfortable waiting through weak patches. The 1-year return has been modest, but the 3-year and 5-year figures are stronger and sit above the benchmark, which makes a longer holding period more relevant than a short one.

It may suit someone who wants a value-oriented equity allocation and does not mind that the fund can lag in shorter windows. The main trade-off is between near-term unevenness and the possibility of better compounding if the strategy is held through a full market cycle.

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: 0.50% if units are sold within 3 months; nil after 3 months.

Source data date: as of 16 Sep 2026

Frequently asked questions

What is the current NAV of ITI Value Fund Direct Growth Plan?
The current NAV is ₹18.4784 as of 16 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 2.38%, the 3-year return is 12.22%, and the 5-year return is 12.15%.

How does it compare with the benchmark?
It has outpaced Nifty 50 over 3 years and 5 years, and it also stayed ahead over 1 year. The short-term path has been uneven, though.

What is the risk category of this fund?
It is marked High Risk. The portfolio style and equity exposure mean investors should be ready for market-linked swings.

What is the exit load?
The exit load is 0.50% if units are sold within 3 months, and nil after 3 months.

Who manages the fund?
The fund is managed by Nilay Dalal and Dhimant Shah.

Bottom line

ITI Value Fund Direct Growth Plan has a mixed recent profile but a stronger longer-term record. Its latest 1-year performance is modest, yet the 3-year and 5-year returns are healthier and sit above the benchmark, which supports a patient holding horizon. The portfolio is spread across 71 holdings, with the top positions each carrying relatively moderate weights rather than one oversized anchor. For investors comfortable with High Risk equity exposure and willing to accept uneven short-term movement, the fund’s longer-run pattern may be the more relevant guide.

Published on 17 September 2026 at 10:27 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.