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

LIC MF Balanced Advantage Fund Direct Growth Plan currently has a NAV of ₹14.5898 as of 16 Sep 2026, with scheme AUM of ₹695 Cr. Its 1-year, 3-year and 5-year returns are 0.13%, 7.35% and Data not available, and it carries a High Risk tag. Our view is that this is a fund for investors who can accept marked swings in the short run while still wanting a hybrid-style allocation that has held up better over three years than over the latest twelve months.

The current picture is mixed: the fund has struggled recently, but its 3-year return is much steadier than its 1-year outcome. That makes it more suitable for investors with a longer horizon who are comfortable with uneven short-term progress rather than those looking for consistently smooth trailing returns.

Quick facts

Particular	Details
NAV	₹14.5898 as of 16 Sep 2026
AUM	₹695 Cr
Expense Ratio	0.79%
Launch Date	12 Nov 2021
Min SIP	₹200
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Hybrid
Exit Load	Nil upto 12% of units and 1% on remaining units on or before 3M, Nil after 3M
Fund Managers	Manoj Bajpai, Rahul Singh

The fund is managed by Manoj Bajpai and Rahul Singh.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.98%	-4.41%
3M	1.62%	-3.60%
1Y	0.13%	-7.76%
3Y	7.35%	5.74%
5Y	Data not available	Data not available

The recent pattern is weak in absolute terms, but it is still better than the benchmark over every available period. Over 1 month, the fund declined, yet the fall was smaller than the benchmark’s decline. Over 3 months and 1 year, the fund stayed positive or close to flat while the benchmark remained negative.

The longer view is more constructive. The 3-year return of 7.35% is ahead of the benchmark’s 5.74%, which suggests the fund has compounded more steadily over a fuller cycle than the headline 1-year figure implies. That said, the 1-year return of 0.13% shows that the recent phase has been much less rewarding than the 3-year outcome.

The day-to-day pattern also points to a fund that has not moved in a straight line. The recent series shows periods of recovery followed by renewed softness, which is consistent with a hybrid fund that can absorb some market movement but still experiences uneven stretches. For investors, the key takeaway is that the latest year has been muted, while the medium-term track record remains more respectable.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD LIC MF 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
LIC MF Balanced Advantage Fund Direct Growth Plan	0.13%	7.35%	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 recent performance, the fund trails the stronger peer 1-year numbers available in this set, especially the 8.6% figure for Unifi Dynamic Asset Allocation Fund Direct Growth Plan and the mid-single-digit returns from several balanced advantage peers. Its 1-year return is far lower than those comparisons.

The picture improves over 3 years, where the fund’s 7.35% return is closer to the broader peer range, though still below the 10%-plus figures posted by Aditya Birla SL Balanced Advantage Fund Direct Growth Plan and Baroda BNP Paribas Balanced Advantage Fund Direct Growth Plan. The longer-term comparison therefore looks less weak than the short-term one, but it still leaves room for improvement against several available peers.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
7.43% Jamnagar Utilities & Power Pvt. Ltd. **	Corporate Debt	7.46%
ICICI Bank Ltd.	Bank	5.56%
TREPS	Cash & Cash Equivalents and Net Assets	4.02%
Navin Fluorine International Ltd.	Chemicals	3.7%
7.18% Government of India	Government Securities	3.67%
Sun Pharmaceutical Industries Ltd.	Healthcare	2.76%
Larsen & Toubro Ltd.	Infrastructure	2.49%
Solar Industries India Ltd.	Chemicals	2.41%
Shriram Finance Ltd.	Finance	2.39%
AU Small Finance Bank Ltd.	Bank	2.3%

The largest holding is 7.46%, which is meaningful but not overwhelming on its own. The next positions also stay in the mid-single-digit range, so the fund does not rely on one very large bet to drive the portfolio.

The drop from the first holding to the tenth is noticeable, moving from 7.46% to 2.3%. That gap suggests a layered structure where a handful of positions may matter more, but each individual holding still sits within a relatively moderate band.

The top 10 holdings account for approximately 36.76% of the portfolio, and the disclosed list includes 53 holdings in total. That combination points to a portfolio that is spread across a fairly long tail beyond the biggest positions, even though the largest names could still have greater influence on near-term returns.

To see all holdings, visit the LIC MF Balanced Advantage Fund Direct Growth Plan page

Source data date: as of 16 Sep 2026

Who should invest

This fund suits investors who are comfortable with High Risk exposure and can hold through uneven short-term performance. The 1-year result is muted, but the 3-year return is better and the benchmark comparison has been consistently favourable over the available periods.

It is more appropriate for a medium- to long-term horizon than for someone who wants a smooth one-year outcome. The main trade-off is that you may accept choppier short-term performance in exchange for a portfolio that has shown better resilience than the benchmark and a more balanced medium-term record.

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 applies as 0% for units sold up to 12% of the holding, and 1% on the remaining units when sold on or before 3 months. No exit load applies after the holding period.

Source data date: as of 16 Sep 2026

Frequently asked questions

What is the current NAV of LIC MF Balanced Advantage Fund Direct Growth Plan?
Its NAV is ₹14.5898 as of 16 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 0.13% and the 3-year return is 7.35%. The 5-year return is Data not available.

How has the fund done versus the benchmark?
It has been ahead of the benchmark in every available period here. The gap is most visible over 1 month, 3 months and 1 year, while the 3-year lead is smaller but still present.

How does it compare with peer funds on available return data?
Its 1-year return is below several peer funds in the comparison set, while the 3-year number is more competitive but still trails some peers with double-digit 3-year returns.

What is the minimum SIP amount?
The minimum SIP amount is ₹200.

Who manages the fund, and what is the exit load?
It is managed by Manoj Bajpai and Rahul Singh. Exit load is nil on up to 12% of units and 1% on the remaining units when sold on or before 3 months, with no exit load after that.

Bottom line

The fund’s recent return pattern is softer than its 3-year record, so the latest year does not fully reflect the longer-view picture. It has stayed ahead of the benchmark across the available periods, but several peers have produced stronger 1-year and 3-year returns. The portfolio is spread across 53 holdings, with no single position dominating the book, which may help balance the impact of any one holding. Overall, it looks better suited to investors who can tolerate High Risk and prefer a longer horizon.

Published on 17 September 2026 at 12:08 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.