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

Updated: 21 Sept 2026 • 9:59 am

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

LIC MF Consumption Fund Direct Growth Plan currently has a NAV of ₹9.7239 as of 18 Sep 2026 and a scheme AUM of ₹460 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the fund sits in the High Risk category. Our view is that this is still an early-stage consumption-focused equity fund, so the short record matters more than long-run compounding at this point.

The portfolio has a concentrated but not narrow top layer, and the current benchmark behaviour has been weak over the recent periods. That makes the fund more relevant for investors who can tolerate sharp swings and want to track the consumption theme over a longer horizon rather than rely on near-term consistency.

Table of Contents

Quick facts

Particular	Details
NAV	₹9.7239 as of 18 Sep 2026
AUM	₹460 Cr
Expense Ratio	0.0%
Launch Date	21 Nov 2025
Min SIP	₹200
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	Nil upto 12% of units and 1% for remaining units on or before 90D, Nil after 90D
Fund Managers	Sumit Bhatnagar, Nikhil Kapoor

The fund is managed by Sumit Bhatnagar and Nikhil Kapoor.

Source data date: as of 18 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.23%	-3.73%
3M	-0.16%	-3.14%
1Y	Data not available	Data not available
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The recent trend is softer than the 3-month reading suggests, because the 1-month path showed a sharper dip after an early lift. That pattern matters for a fund like this: it tells us the portfolio can move around even when the medium-short period looks relatively stable.

Against the benchmark, the fund has held up better over both reported windows. The 1-month figure is less negative than the benchmark, and the 3-month result is also less negative. That is a useful sign, but it is still a short operating history, so we would treat it as a starting point rather than a settled pattern.

The short series also suggests a fund that has not moved in a straight line. There was some recovery after weakness in the middle of the period, but the finish was still below the earlier levels. For investors, that means the fund has already shown the kind of drawdown-and-rebound behaviour that is common in equity thematic strategies.

Because there is no real 3-year or 5-year track record yet, the longer-term case rests more on the strategy and portfolio than on established compounding history. In our view, that makes the fund better suited to investors who can stay invested through uneven phases and are comfortable with a theme that may take time to express itself.

Source data date: as of 18 Sep 2026

Should you BUY or HOLD LIC MF Consumption?

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 Consumption Fund Direct Growth Plan	Data not available	Data not available	Data not available
HDFC Nifty India Consumption Index Fund Direct Growth Plan	Data not available	Data not available	Data not available
LIC MF Consumption Fund Direct Growth Plan	Data not available	Data not available	Data not available
Union Consumption Fund Direct Growth Plan	Data not available	Data not available	Data not available

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

On the available return set, the current fund does not show a published 1-year figure in the peer table, so the comparison is limited to what is visible across the group. That means the short-term discussion is more about the listed benchmark and fund path than about a full peer gap.

Because the 3-year and 5-year figures are also unavailable for the peer entries shown, there is no meaningful way to argue that one fund has a stronger long-term record than another from this table alone. For that reason, the peer view here is mainly a disclosure of availability: the short history keeps the comparison from becoming a full performance contest.

Source data date: as of 18 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
The Indian Hotels Company Ltd.	Hospitality	3.31%
Bharti Airtel Ltd.	Telecom	3.28%
Interglobe Aviation Ltd.	Aviation	3.24%
Eternal Ltd.	Retailing	3.03%
MRS Bectors Food Specialities Ltd.	FMCG	2.74%
Godfrey Phillips India Ltd.	FMCG	2.72%
Eureka Forbes Ltd.	Consumer Durables	2.70%
ITC Hotels Ltd.	Domestic Equities	2.68%
TVS Motor Company Ltd.	Automobile & Ancillaries	2.60%
LG Electronics India Ltd.	Domestic Equities	2.53%

The top 10 holdings account for approximately 28.83% of the portfolio.

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

The largest position, The Indian Hotels Company Ltd., is 3.31%, so no single stock dominates the visible book. The tenth holding, LG Electronics India Ltd., is only slightly smaller at 2.53%, which tells us the top slice is fairly tightly grouped rather than led by one standout weight.

That said, the top 10 holdings together are only 28.83% of the portfolio, while the full disclosed list extends to 55 holdings. So even though the leading positions matter, the fund still appears to spread risk across a much longer tail of holdings beyond the first ten names.

This structure may give the theme more breadth than a highly concentrated basket, but the portfolio can still be influenced by a handful of larger positions in hospitality, telecom, aviation and consumer-facing businesses. For investors, the main point is that this is a theme-driven equity portfolio with a visible top layer and a broader underlying set of holdings.

Source data date: as of 18 Sep 2026

Who should invest

This fund fits investors who can handle High Risk exposure and are comfortable with a consumption theme that may take time to play out. The short track record and the uneven near-term path mean it is better suited to a longer horizon than to money that may be needed soon.

The fund’s recent behaviour is less negative than the benchmark over the short windows shown, but there is not yet a long performance history to lean on. That trade-off matters: you get a theme-led equity portfolio, but you also accept a newer record and the possibility of wider swings than a core diversified equity fund.

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 up to 12% of units and 1% for the remaining units if sold on or before 90 days; no exit load after the holding period.

Source data date: as of 18 Sep 2026

Frequently asked questions

What is the current NAV of LIC MF Consumption Fund Direct Growth Plan?

The current NAV is ₹9.7239 as of 18 Sep 2026.

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

The 1-year, 3-year and 5-year returns are not available in a usable published form in this review. The short-window performance that is available shows -3.23% for 1 month and -0.16% for 3 months.

How has the fund performed versus the benchmark?

It has done better than Nifty 50 over the short windows shown. The fund is less negative than the benchmark in both the 1-month and 3-month periods.

What is the minimum SIP amount?

The minimum SIP amount is ₹200.

How risky is this fund and what kind of portfolio does it have?

The fund is classified as High Risk. Its portfolio is led by consumer and consumption-linked names such as hospitality, telecom, aviation, retailing and FMCG businesses.

Who manages the fund and what is the exit load?

The fund is managed by Sumit Bhatnagar and Nikhil Kapoor. The exit load is nil up to 12% of units and 1% for the remaining units if sold on or before 90 days, and there is no exit load after the holding period.

Bottom line

LIC MF Consumption Fund Direct Growth Plan has shown a weaker recent path than many long-only investors may expect from an equity fund, but it has still held up better than the benchmark in the short windows available. The record is brief, so the case rests more on the portfolio and theme than on long-term compounding. With a High Risk profile, a consumer-led portfolio and 55 disclosed holdings, it suits investors who can tolerate volatility and want thematic equity exposure with a broad underlying basket.

Published on 21 September 2026 at 9:58 AM IST

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.