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

LIC MF Conservative Hybrid Fund Direct Growth Plan has a current NAV of ₹94.8754 as of 09 Sep 2026, and its scheme AUM is ₹46 Cr. Its 1-year, 3-year and 5-year returns are 5.01%, 6.83% and 5.76%, and the official risk category is Medium Risk. Our view is that this is a relatively steady conservative-hybrid option, but the return pattern has stayed modest, so it is better suited to investors who prioritise stability over strong capital growth.

The fund’s portfolio is anchored by government securities and cash-like positions, which helps explain the lower-volatility character noted in its risk profile. That mix can support smoother behaviour, but it also means the fund may not keep pace with stronger-returning hybrid peers in every market phase.

Quick facts

Particular	Details
NAV	₹94.8754 as of 09 Sep 2026
AUM	₹46 Cr
Expense Ratio	1.42%
Launch Date	01 Jan 2013
Min SIP	₹200
Risk Category	Medium Risk
Benchmark	Nifty 50
Fund Category	Hybrid
Exit Load	Nil upto 12% of units and 1% on remaining units on or before 90D, Nil after 90D
Fund Managers	Pratik Shroff, Siddharth Panjwani

The fund is managed by Pratik Shroff and Siddharth Panjwani.

Source data date: as of 09 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-0.64%	-4.69%
3M	2.63%	0.93%
1Y	5.01%	-7.16%
3Y	6.83%	6%
5Y	5.76%	5.87%

The recent pattern is mixed but not erratic. Over 1 month, the fund slipped slightly while the benchmark fell more sharply, which points to some cushioning in a weak market. Over 3 months and 1 year, the fund delivered positive returns while the benchmark was still subdued or negative, so the fund has recently held up better than the index.

The longer horizon tells a calmer story. At 3 years, the fund and benchmark are close, with the fund slightly ahead. Over 5 years, the fund is marginally behind the benchmark, which suggests that the portfolio has not created a large compounding edge over the full cycle.

Viewed alongside the daily movement pattern, the fund appears more defensive than aggressive. It has recovered after softer phases, but the gains have been measured rather than sharp. That profile fits a conservative hybrid scheme: steadier than an equity-heavy fund, yet not completely insulated from market swings.

Overall, the return record supports a cautious interpretation. The fund has recently behaved better than the benchmark in short windows, but the long-run gap is modest, so investors are mainly paying for stability and balance rather than standout upside.

Source data date: as of 09 Sep 2026

Should you BUY or HOLD LIC MF Conservative Hybrid?

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 Conservative Hybrid Fund Direct Growth Plan	5.01%	6.83%	5.76%
Nippon India Conservative Hybrid Fund Direct Growth Plan	7.43%	8.73%	8.32%
Parag Parikh Conservative Hybrid Fund Direct Growth Plan	5.96%	9.53%	9.52%
SBI Conservative Hybrid Fund Direct Growth Plan	5.75%	8.46%	8.74%
Baroda BNP Paribas Conservative Hybrid Fund Direct Growth Plan	5.68%	8.56%	7.6%
Aditya Birla SL Conservative Hybrid Fund Direct Growth Plan	5.43%	8.8%	8.19%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On 1-year returns, LIC MF Conservative Hybrid Fund Direct Growth Plan trails all five peer funds listed here, with the gap most visible against the stronger-returning options. The longer picture is also softer: its 3-year return is below the peer figures shown, and its 5-year return is the lightest among the available peer set. That means the short-term and longer-term comparisons point in the same direction, with peers offering stronger outcomes on the return metrics available here.

Source data date: as of 09 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
TREPS	Cash & Cash Equivalents and Net Assets	19.35%
7.32% Government of India	Government Securities	11.21%
7.17% Government of India	Government Securities	11.18%
7.65% State Government of Tamil Nadu	Government Securities	11.11%
6.79% Government of India	Government Securities	10.9%
8.13% Nuclear Power Corporation **	Corporate Debt	8.93%
7.38% Government of India	Government Securities	4.38%
7.19% State Government of Tamil Nadu	Government Securities	3.27%
Sun Pharmaceutical Industries Ltd.	Healthcare	1.44%
Divi'S Laboratories Ltd.	Healthcare	1.31%

The top 10 holdings account for approximately 83.08% of the portfolio.

To see all holdings, visit the LIC MF Conservative Hybrid Fund Direct Growth Plan page

The largest holding, TREPS, stands at 19.35%, which is meaningful for a conservative hybrid portfolio because it gives cash-like support and may temper day-to-day swings. The rest of the top positions are dominated by government securities, and the drop from the largest holding to the tenth is sharp, with the tenth holding at 1.31%. That shape suggests the portfolio is not evenly spread across the top names.

Even so, the disclosed book is not narrowly dependent on one or two positions alone. The top 10 holdings together make up 83.08% of the portfolio, while 30 holdings are disclosed in total, so the visible exposure is concentrated in the leading names but still extends into a broader tail. In our view, that structure could support steadier behaviour while keeping some diversification across sovereign and credit exposures.

Source data date: as of 09 Sep 2026

Who should invest

This fund fits investors who are comfortable with Medium Risk and want a conservative hybrid allocation rather than an equity-led growth profile. The return pattern shows a relatively steady 1-year recovery, a middling 3-year result, and a 5-year figure that is close to the benchmark, so the trade-off is smoother behaviour in exchange for limited upside.

Its portfolio mix, led by TREPS and government securities, may appeal to investors who value stability and partial income orientation over sharper market participation. The most suitable horizon is medium to long term, because shorter windows can still move around and the fund has not shown a strong long-run return gap versus the benchmark or stronger peer outcomes.

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 12% of units and 1% on remaining units on or before 90D, Nil after 90D.

Source data date: as of 09 Sep 2026

Frequently asked questions

What is the current NAV of LIC MF Conservative Hybrid Fund Direct Growth Plan?
Its NAV is ₹94.8754 as of 09 Sep 2026.

What are the 1-year, 3-year and 5-year returns?
The fund’s returns are 5.01% for 1 year, 6.83% for 3 years and 5.76% for 5 years.

How does the fund compare with its benchmark?
It has outperformed the benchmark over 1 year and 3 months, is slightly ahead over 3 years, and is slightly behind over 5 years.

How does it compare with the peer funds listed here?
On the available return figures, the fund trails the peer set shown across 1-year, 3-year and 5-year periods.

Is there a minimum SIP amount?
Yes. The minimum SIP amount is ₹200.

Who manages the fund and what is the exit load?
The fund is managed by Pratik Shroff and Siddharth Panjwani. The exit load is nil upto 12% of units and 1% on remaining units on or before 90D, and nil after 90D.

Bottom line

LIC MF Conservative Hybrid Fund Direct Growth Plan has shown a steadier short-term profile than its benchmark, but its longer-term return record is fairly modest and slightly behind the benchmark over 5 years. Against the peer set shown, the return picture is weaker across the available periods. The portfolio is led by TREPS and government securities, which supports a conservative stance and may help limit volatility. This looks more suitable for investors seeking balance and stability than for those chasing stronger growth.

Published on 10 September 2026 at 3:35 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.