Nippon India MNC Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Nippon India MNC Fund Direct Growth Plan has a NAV of ₹10.4991 as of 16 Sep 2026 and an AUM of ₹435 Cr. Its 1-year, 3-year and 5-year returns are -1.56%, 0% and 0%, and the scheme is tagged High Risk.

Our view is that this is a portfolio-driven equity fund rather than a steady compounder so far. The short history, uneven recent returns and concentrated exposure to a handful of large-cap consumer, auto and healthcare names mean it may suit investors who can tolerate volatility and want an MNC-focused allocation within a longer horizon.

Quick facts

Particular	Details
NAV	₹10.4991 as of 16 Sep 2026
AUM	₹435 Cr
Expense Ratio	1.2%
Launch Date	22 Jul 2025
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	1% on or before 1Y, Nil after 1Y
Fund Managers	Dhrumil Shah, Kinjal Desai

The fund is managed by Dhrumil Shah and Kinjal Desai.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-6.28%	-4.41%
3M	-2.63%	-3.6%
1Y	-1.56%	-7.76%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The recent pattern has been weak, especially over the latest month, where the fund fell more than the benchmark. That tells us the strategy has been under pressure in the short run even though the 3-month decline was milder than the benchmark’s, which suggests the gap has not been one-way.

Over 1 year, the fund’s decline is smaller than the benchmark’s, so it has held up better over that window. Still, the return is negative, which means the fund has not yet shown a clean uptrend across the last year.

The time path also looks choppy rather than smooth. There were phases of partial recovery in the middle of the year, but those gains did not hold through the latest readings. In practical terms, that points to a fund whose performance can swing around depending on market leadership in its chosen names.

Because the fund is only recently launched, 3-year and 5-year fund returns are not available, so we would avoid reading too much into the near-term line alone. What matters most here is that the fund has not yet built a long visible compounding record, and the current evidence is still dominated by the latest weak stretch.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD Nippon India MNC?

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
Nippon India MNC Fund Direct Growth Plan	-1.56%	Data not available	Data not available
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan	69.8%	36.32%	Data not available
HDFC Pharma and Healthcare Fund Direct Growth Plan	25.31%	Data not available	Data not available
Kotak Healthcare Fund Direct Growth Plan	25.27%	Data not available	Data not available
Motilal Oswal Active Momentum Fund Direct Growth Plan	24.51%	Data not available	Data not available
PGIM India Healthcare Fund Direct Growth Plan	22.75%	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 1-year figures, the fund trails the stronger peer returns by a wide margin, so the short-term picture is clearly softer than the peer set’s better performers. At the same time, the fund’s 1-year decline is still much smaller than the benchmark’s, which means it has not been the weakest against the market reference. The longer-term peer comparison is limited because most of the listed peer figures are not available for 3 years and 5 years, so the available picture remains tilted toward recent performance rather than a deep history.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
NESTLE INDIA LIMITED	FMCG	7.22%
CUMMINS INDIA LIMITED	Automobile & Ancillaries	7.05%
MARUTI SUZUKI INDIA LIMITED	Automobile & Ancillaries	6.78%
BRITANNIA INDUSTRIES LIMITED	FMCG	6.57%
HYUNDAI MOTOR INDIA LTD	Automobile & Ancillaries	5.07%
HINDUSTAN UNILEVER LIMITED	FMCG	4.75%
SAI LIFE SCIENCES LIMITED	Domestic Equities	4.19%
TRIPARTY REPO	Cash & Cash Equivalents and Net Assets	4.07%
FORTIS HEALTHCARE LIMITED	Healthcare	4.06%
KANSAI NEROLAC PAINTS LIMITED	Chemicals	3.97%

The top 10 holdings account for approximately 53.73% of the portfolio.

To see all holdings, visit the Nippon India MNC Fund Direct Growth Plan page

The largest holding, Nestle India Limited, is 7.22% of the portfolio. That is large enough to matter, but not so large that a single position fully dominates the fund.

The drop from 7.22% at the top to 3.97% at the tenth holding shows a fairly moderate tapering, which suggests the portfolio is built around a cluster of sizeable positions rather than one outsized bet. The first six holdings are all above 4.75%, so the influence is likely to remain concentrated among the names at the top of the table.

At the same time, the top 10 holdings sum to 53.73% across 33 disclosed holdings, which means there is still a meaningful tail beyond the largest positions. Our view is that this structure may create a balance of concentration and diversification: the largest consumer and auto names may drive returns more noticeably, while the broader tail can soften the portfolio’s dependence on any one holding.

Source data date: as of 16 Sep 2026

Who should invest

This fund suits investors who are comfortable with High Risk and can stay invested for a longer horizon. The negative 1-year return and the lack of a long track record mean it is better viewed as a portfolio with promise rather than one with a mature compounding record.

The benchmark comparison shows that the fund has recently held up better than the index over 1 year, but the latest month has been weaker. That makes the investor trade-off clear: you may get differentiated exposure to multinational-style consumer, auto and healthcare names, but you also need to accept uneven short-term behaviour.

In our view, it is most relevant for investors who want equity exposure with a distinct holdings mix and who can tolerate short-run volatility while waiting for the strategy to settle into a clearer longer-term pattern.

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% on or before 1Y, Nil after 1Y.

Source data date: as of 16 Sep 2026

Frequently asked questions

What is the current NAV of Nippon India MNC Fund Direct Growth Plan?

The current NAV is ₹10.4991 as of 16 Sep 2026.

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

The 1-year return is -1.56%, while the 3-year and 5-year returns are not available because the fund is too new for those horizons.

How has the fund done against Nifty 50 recently?

It has done better than Nifty 50 over 1 year, with -1.56% versus -7.76%. Over 1 month, though, the fund has fallen more than the benchmark.

How does it compare with the peer funds listed here?

Its 1-year return is below the stronger peer figures shown, including 69.8% for ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan and the mid-20% range for several healthcare and momentum funds. The longer-term peer picture is limited because most 3-year and 5-year figures are not available.

Does the fund have a minimum SIP amount?

Yes, the minimum SIP amount is ₹100.

Who manages the fund and what is the exit load?

The fund is managed by Dhrumil Shah and Kinjal Desai. The exit load is 1% if units are sold on or before 1 year, and nil after 1 year.

Bottom line

Nippon India MNC Fund Direct Growth Plan has shown a mixed recent profile: the latest month has been weak, but the 1-year decline is still smaller than the benchmark’s. Against the peer set, the available 1-year figure looks softer than the stronger names, while the fund’s longer-term case is still hard to judge because it has not built a long public track record. The portfolio is fairly concentrated in consumer, auto and healthcare names, so it may appeal to investors who want distinct equity exposure and can accept High Risk with a long patience window.

Published on 17 September 2026 at 9:43 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.