Mirae Asset Long Term Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Mirae Asset Long Term Fund Direct Growth Plan has a NAV of ₹10.4403 as of 15 September 2026 and a scheme AUM of ₹19 Cr. Its 1-year, 3-year and 5-year returns are 1.81%, 0% and 0% respectively, and the fund is tagged as Medium Risk. Our view is that this is a conservative debt allocation with a short track record, modest recent return and a portfolio dominated by government securities, so it may suit investors looking for relatively steady credit quality rather than strong return ambition.

The fund’s recent behaviour has been better than the benchmark over the latest year, but the longer-horizon return history is still too short to build a strong compounding record. For investors, the main question is not whether it can chase equity-like gains, but whether a government-securities-heavy debt fund with low expense ratio and limited seasoning fits a measured, income-oriented allocation.

Quick facts

Particular	Details
NAV	₹10.4403 as of 15 Sep 2026
AUM	₹19 Cr
Expense Ratio	0.15%
Launch Date	06 Dec 2024
Min SIP	₹99
Risk Category	Medium Risk
Benchmark	Nifty 50
Fund Category	Debt
Exit Load	No exit load
Fund Managers	Kruti Chheta

The fund is managed by Kruti Chheta.

Source data date: as of 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.11%	-4.81%
3M	0.21%	-3.63%
1Y	1.81%	-8.27%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The near-term pattern has been mixed, but it is not weak in the same way as the benchmark. Over 1 month, the fund fell, yet the decline was smaller than the benchmark’s drop. Over 3 months, it moved slightly positive while the benchmark stayed negative, which points to better short-run resilience.

The 1-year figure tells a clearer story. The fund has stayed positive while the benchmark has been negative, so the spread is meaningful even if the absolute return is still modest. That combination suggests the portfolio has offered some defensive stability in a difficult benchmark backdrop.

We are cautious about reading too much into the absence of longer published history. The fund was launched in December 2024, so the available record is short and does not yet provide a full market cycle. Even so, the recent path looks steadier than the benchmark, and that matters more for a debt-oriented scheme than headline upside.

In our view, the present pattern looks more like capital preservation with limited growth than a return-led debt strategy. Investors comparing it with the benchmark should focus on the smaller drawdown and the positive 1-year result rather than expecting aggressive compounding.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD Mirae Asset Long Term?

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
Mirae Asset Long Term Fund Direct Growth Plan	1.81%	Data not available	Data not available
Franklin India Long Term Fund Direct Growth Plan	4.96%	Data not available	Data not available
Bandhan Long Term Fund Direct Growth Plan	4.3%	Data not available	Data not available
Aditya Birla SL Long Term Fund Direct Growth Plan	3.64%	6.68%	Data not available
ICICI Pru Long Term Fund Direct Growth Plan	3.16%	6.6%	5.41%
Kotak Long Term Fund Direct Growth Plan	2.78%	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 latest 1-year figure, the fund trails several peers that have stronger published numbers, while still staying ahead of the benchmark. The gap becomes more visible when we look at peers with longer records, where some peers show solid 3-year and 5-year figures and this fund does not yet have those trailing periods available.

The short-term comparison and the longer-term comparison tell different stories. Near term, the fund looks more stable than the benchmark, but against peers it does not stand out on return delivery. For investors, that means the fund’s appeal is more about its defensive debt mix and steadier recent behaviour than about leadership on published return numbers.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
7.30% Government of India (MD 19/06/2053)	Government Securities	39.73%
7.09% Government of India (MD 05/08/2054)	Government Securities	24.21%
6.90% Government of India (MD 15/04/2065)	Government Securities	13.96%
7.24% Government of India (MD 18/08/2055)	Government Securities	9.87%
TREPS	Cash & Cash Equivalents and Net Assets	5.33%
6.94% Government of India (MD 11/05/2036)	Government Securities	5.12%
Net Receivables / (Payables)	Cash & Cash Equivalents and Net Assets	1.24%
Corporate Debt Market Development Fund – Class A2#	Alternative Investment Fund	0.54%

The largest holding is 7.30% Government of India (MD 19/06/2053) at 39.73%, which is a very large single-position weight for a debt fund. The next positions also remain in government securities, and the drop from the largest holding to the smaller lines is steep enough to show that the fund is shaped mainly by a few long-dated sovereign exposures rather than a broad spread of many similarly sized bets.

Because the table lists all eight disclosed holdings, we can see the portfolio clearly without needing to infer any longer tail. The top holdings together account for 100% of the disclosed portfolio, so the visible mix is already fully concentrated in the reported positions. That concentration may help keep the credit profile anchored in government securities, but it also means performance is likely to be influenced more by those few large duration-sensitive holdings than by diversification across many smaller ones.

In practical terms, this is not a layered portfolio with a wide set of active ideas. It is a compact structure, and the large allocation to government securities may support stability, while the smaller cash-equivalent and other line items may act as liquidity buffers. For investors, that can be acceptable if the aim is a simple debt exposure, but it is less suited to those expecting diversified return drivers.

Source data date: as of 15 Sep 2026

Who should invest

This fund fits investors with a moderate risk tolerance who are comfortable with a debt scheme that can still fluctuate in the short run. The 1-year return is positive, but the short record and the absence of longer published history mean it is better viewed as a measured allocation than a mature long-term compounder.

Its benchmark comparison is encouraging, because it has held up better than the benchmark in the recent periods shown. The trade-off is that peer comparison does not point to standout return delivery, so investors are mainly choosing steadier recent behaviour and a government-securities-heavy structure over stronger published upside.

We would view it as more suitable for an intermediate horizon than a quick parking option, especially for investors who want debt exposure with a relatively simple portfolio mix. The key compromise is accepting limited track record and modest return ambition in exchange for a defensive profile.

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: No exit load.

Source data date: as of 15 Sep 2026

Frequently asked questions

What is the current NAV of Mirae Asset Long Term Fund Direct Growth Plan?

The current NAV is ₹10.4403 as of 15 September 2026.

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

The 1-year return is 1.81%, while the 3-year and 5-year returns are both Data not available.

How does the fund compare with its benchmark?

It has done better than the benchmark over 1 month, 3 months and 1 year. The benchmark has been negative across those same periods, while the fund stayed closer to flat or positive.

How does the fund compare with peer funds on 1-year returns?

Its 1-year return of 1.81% is below the published 1-year figures of several peer funds in this group, although it is still ahead of the benchmark.

What is the minimum SIP amount?

The minimum SIP amount is ₹99.

What is the portfolio style and exit load?

The portfolio is dominated by government securities, led by a 39.73% holding in 7.30% Government of India (MD 19/06/2053). There is no exit load.

Bottom line

The fund’s recent return pattern is better than the benchmark, but the longer-horizon picture is still thin because the scheme launched in late 2024. Against peers with published longer records, its return figures are less developed and less compelling, yet the portfolio is clearly anchored in government securities and carries a medium-risk label. That makes it more appropriate for investors who want a conservative debt allocation with a simple structure and can accept modest return expectations.

Published on 16 September 2026 at 8:17 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.