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

Mirae Asset Multi Asset Allocation Fund Direct Growth Plan has a NAV of ₹14.111 as of 18 September 2026 and a scheme AUM of ₹3,690 Cr. Its 1-year, 3-year and 5-year returns are 10.55%, 0% and 0%, and the fund sits in the High Risk category.

Our view is that the fund suits investors who can accept a high-risk, mixed-asset style and who are comfortable with uneven short-term movement. The recent return profile has been positive over 1 year, but the longer-window figures remain limited, so the portfolio mix and the benchmark comparison matter more than a simple trailing number.

Quick facts

Particular	Details
NAV	₹14.111 as of 18 Sep 2026
AUM	₹3,690 Cr
Expense Ratio	0.42%
Launch Date	31 Jan 2024
Min SIP	₹99
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Hybrid
Exit Load	1% on or before 6M (180D), Nil after 6M (180D)
Fund Managers	Harshad Borawake, Basant Bafna, Siddharth Srivastava, Ritesh Patel

The fund is managed by Harshad Borawake, Basant Bafna, Siddharth Srivastava and Ritesh Patel.

Source data date: as of 18 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-1.51%	-3.73%
3M	1.27%	-3.14%
1Y	10.55%	-5.31%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The fund has been steadier than the benchmark over the shorter windows. Over 1 month it fell, but it declined less than the benchmark, and over 3 months it moved back into positive territory while the benchmark stayed negative. That pattern suggests some resilience in a choppy market rather than a smooth one-way climb.

The 1-year figure is the clearest positive point. The fund’s 10.55% return is ahead of the benchmark’s decline over the same period, which shows better absolute performance over the recent year. Still, the path is not linear, and the monthly swings in the one-year pattern show that investors have had to tolerate periods of weakness along the way.

Longer-term comparison is limited because the current trailing 3-year and 5-year figures are not available. That means we cannot describe a full multi-year compounding record here, so our view leans more on the recent pattern: moderate short-term recovery, a positive 1-year outcome, and a clear edge over the benchmark in the supplied windows.

Source data date: as of 18 Sep 2026

Should you BUY or HOLD Mirae Asset Multi Asset Allocation?

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.

Already holding Mirae Asset Multi Asset Allocation? Thinking of investing now?

Get your portfolio analysed for FREE by SEBI-registered Investment Adviser (RIA) through Univest MF Premium

Peer comparison

Fund	1Y return	3Y return	5Y return
Mirae Asset Multi Asset Allocation Fund Direct Growth Plan	10.55%	Data not available	Data not available
360 ONE Multi Asset Allocation Fund Direct Growth Plan	19.91%	Data not available	Data not available
Quant Multi Asset Allocation Fund Direct Growth Plan	16.29%	22.23%	19.88%
Kotak Multi Asset Allocation Fund Direct Growth Plan	14.68%	Data not available	Data not available
Mahindra Manulife Multi Asset Allocation Fund Direct Growth Plan	12.65%	Data not available	Data not available
DSP Multi Asset Allocation Fund Direct Growth Plan	12.65%	Data not available	Data not available

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

Mirae Asset Multi Asset Allocation Fund Direct Growth Plan has a weaker 1-year figure than the better short-term peer returns shown here, with several peers ahead on the same horizon. The gap is meaningful versus the strongest recent numbers, but the fund still beats the benchmark over the same window.

Only one peer in this set has longer-history figures available, and that makes the longer-term comparison narrower. Against that peer, the fund has a weaker 1-year return and does not have a reported 3-year or 5-year record in this comparison, so the short-term and longer-term peer pictures do not tell the same story.

Source data date: as of 18 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Mirae Asset Gold ETF	Domestic Mutual Funds Units – Gold	12.05%
ICICI Bank Ltd.	Bank	4.59%
TREPS	Cash & Cash Equivalents and Net Assets	4.34%
HDFC Bank Ltd.	Bank	4.15%
State Bank of India	Bank	2.78%
Reliance Industries Ltd.	Crude Oil	2.5%
Bharti Airtel Ltd.	Telecom	2.09%
Axis Bank Ltd.	Bank	1.9%
6.79% Government of India (MD 07/10/2034)	Government Securities	1.87%
Mirae Asset Silver ETF	Domestic Mutual Funds Units – Silver	1.66%

The top 10 holdings account for approximately 37.93% of the portfolio.

To see all holdings, visit the Mirae Asset Multi Asset Allocation Fund Direct Growth Plan page

The largest holding is Mirae Asset Gold ETF at 12.05%, which is sizeable for a single position in a multi-asset strategy. The next few positions are much smaller, and the tenth holding is down to 1.66%, so the weight drop from the top position to the tail of the table is fairly steep.

Because the top 10 together make up 37.93% of the portfolio, the disclosed holdings appear spread across a longer list rather than dominated by just a few names. At the same time, the 57 disclosed holdings suggest a broad underlying mix, so the visible slice may have several moving parts even though the leading positions are not extreme in number.

Source data date: as of 18 Sep 2026

Who should invest

This fund is more suitable for investors who can handle High Risk and are comfortable with short-term swings. The recent 1-year result is positive, but the shorter windows show choppiness, so a longer horizon is more sensible than a quick-trade mindset.

The benchmark comparison is constructive over the available windows, but peer comparison shows that some similar multi-asset funds have done better on the 1-year measure. The main trade-off is that you get diversified multi-asset exposure and a meaningful gold allocation, but you also accept uneven short-term performance and incomplete longer-history visibility here.

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: 1% if units are sold on or before 6M (180D). No exit load applies after 6M (180D).

Source data date: as of 18 Sep 2026

Frequently asked questions

What is the current NAV of Mirae Asset Multi Asset Allocation Fund Direct Growth Plan?

The current NAV is ₹14.111 as of 18 September 2026.

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

The 1-year return is 10.55%, while the 3-year and 5-year returns are Data not available.

How has the fund performed against Nifty 50?

It has done better than Nifty 50 in the available windows, including 1 month, 3 months and 1 year.

How does it compare with similar multi-asset funds?

Its 1-year return trails several peer funds in this comparison, although one peer has longer-history figures that are also stronger where available.

What is the minimum SIP amount?

The minimum SIP amount is ₹99.

What is the risk profile and exit load?

The fund is in the High Risk category. The exit load is 1% if units are sold on or before 6M (180D), and nil after that.

Bottom line

This fund’s recent performance is better than its benchmark in the available windows, but the longer-horizon record remains incomplete, so the story is still early. Compared with peers, the 1-year figure is weaker than several similar funds, while the portfolio shows a meaningful gold weight and a broad spread across 57 disclosed holdings. That mix may suit investors who want multi-asset exposure and can accept a High Risk profile with uneven short-term behaviour.

Published on 21 September 2026 at 10:12 AM IST

Explore mutual funds with Univest

Review mutual fund data, compare performance and explore fund insights on Univest.

Explore Univest

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.