Nippon India Multi-Asset Omni FoF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Nippon India Multi-Asset Omni FoF Direct Growth Plan currently has a NAV of ₹24.696 as of 15 Sep 2026 and scheme AUM of ₹3,055 Cr. Its 1-year, 3-year and 5-year returns are 7.65%, 15.59% and 15.07%, and the fund sits in the High Risk bucket.

Our view is that this is a diversified, multi-asset fund-of-funds with a strong longer-term record but a softer recent stretch. The portfolio mix across equity, gold, silver and debt-oriented underlying funds can help spread exposure, yet it also means short-term moves can differ from a plain equity benchmark.

Quick facts

Particular	Details
NAV	₹24.696 as of 15 Sep 2026
AUM	₹3,055 Cr
Expense Ratio	0.14%
Launch Date	08 Feb 2021
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Fund of Fund
Exit Load	Nil upto 10% of units and 1% for remaning units on or before 12M, Nil after 12M
Fund Managers	Sushil Budhia, Shirish Guthe, Vikram Dhawan

The fund is managed by Sushil Budhia, Shirish Guthe and Vikram Dhawan.

Source data date: as of 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.88%	-4.81%
3M	-0.43%	-3.63%
1Y	7.65%	-8.27%
3Y	15.59%	5.59%
5Y	15.07%	5.58%

The recent picture is mixed but not weak. Over one month and three months, the fund stayed negative, yet it fell less than the benchmark in both windows, which suggests the underlying mix held up better than the index during the latest patch of volatility.

The one-year figure is much stronger than the benchmark, which shows the fund recovered well over a fuller cycle even though the latest month was softer. That gap matters because it tells us the fund has not simply ridden a rising equity benchmark; it has delivered a very different pattern through the year.

Over three and five years, the fund has compounded at a pace well above the benchmark. The three-year return of 15.59% versus 5.59% for the benchmark points to a clear long-run advantage, while the five-year return of 15.07% versus 5.58% supports the same conclusion. Our view is that the long-term track record remains the stronger part of the story, while recent behaviour has been more uneven.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD Nippon India Multi-Asset Omni FoF?

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 Multi-Asset Omni FoF Direct Growth Plan	7.65%	15.59%	15.07%
SBI Silver ETF FOF Direct Growth Plan	75.06%	Data not available	Data not available
Kotak Silver ETF FoF Direct Growth Plan	74.67%	44.26%	Data not available
Axis Silver FoF Direct Growth Plan	73.7%	44.39%	Data not available
Zerodha Silver ETF FoF Direct Growth Plan	73.46%	Data not available	Data not available
Nippon India Silver ETF FOF Direct Growth Plan	72.65%	43.94%	Data not available

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

On a one-year basis, the fund trails the silver-focused peers listed here by a wide margin, because their recent gains are far higher. That does not make the comparison apples-to-apples, though, because these peers are built around silver exposure, while this fund spreads money across multiple asset sleeves.

For three-year results, the fund is clearly ahead of the peers with available figures, which supports the case that its multi-asset structure has worked better over a longer window. The five-year comparison is less complete because several peers do not have a five-year figure, but the current fund still shows a meaningful long-run return profile. In our view, the short-term peer picture and the longer-term picture tell different stories.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Nippon India Growth Mid Cap Fd-Dir PL-GR Pl-Gropt	Domestic Mutual Funds Units	20.84%
Nippon India Large Cap Fund-Direct Growth Plan	Domestic Mutual Funds Units	20.25%
Nippon India ETF Gold Bees	Domestic Mutual Funds Units – Gold	17.13%
Nippon India Nifty Smallcap 250 Ind Funddi Pl-Grop	Domestic Mutual Funds Units	15.75%
Nippon India Short Term Fd-Dir PL GR PL-GR Opt	Domestic Mutual Funds Units	9.87%
Nippon India Gilt Sec Fund Dir PL Growth PL GR Op	Domestic Mutual Funds Units	7.31%
Nippon India Silver ETF	Domestic Mutual Funds Units – Silver	4.82%
Triparty Repo	Cash & Cash Equivalents and Net Assets	3.54%
Nippon India Small Cap Fund – Direct Plan GR PL	Domestic Mutual Funds Units	0.79%

This is a fairly concentrated set of disclosed holdings, even though the underlying exposure is spread across multiple asset classes. The largest disclosed position is Nippon India Growth Mid Cap Fd-Dir PL-GR Pl-Gropt at 20.84%, followed closely by Nippon India Large Cap Fund-Direct Growth Plan at 20.25%, so the top two together are likely to have greater influence than any single later holding.

The weight then steps down to 17.13%, 15.75% and below 10% by the fifth row, which shows a noticeable taper from the leading sleeves to the smaller ones. That drop-off suggests the biggest positions matter most, while the tail adds supporting exposure rather than driving the portfolio.

All nine disclosed holdings together account for 100% of the portfolio, so the structure is fully visible in the disclosed list. With only nine holdings and a clear spread across equity, gold, silver, debt and cash-like exposure, the portfolio may offer diversification across asset types, but the large top weights still make the early rows especially important for return behaviour.

Source data date: as of 15 Sep 2026

Who should invest

This fund suits investors who are comfortable with High Risk volatility and who can stay invested for several years. The one-year return is positive, but the shorter windows have been uneven, so a short holding period is more likely to feel noisy than rewarding.

The stronger three-year and five-year numbers, together with the fund’s ability to stay ahead of the benchmark over longer stretches, make it more appropriate for investors who want a diversified multi-asset allocation rather than a simple equity-only path. The trade-off is that the portfolio can behave differently from the benchmark and can still experience near-term swings because of its equity and commodity-linked sleeves.

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 10% of units and 1% for remaining units on or before 12 months; no exit load after the holding period.

Source data date: as of 15 Sep 2026

Frequently asked questions

What is the current NAV of Nippon India Multi-Asset Omni FoF Direct Growth Plan?
The current NAV is ₹24.696 as of 15 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 7.65% for 1 year, 15.59% for 3 years and 15.07% for 5 years.

How does the fund compare with its benchmark?
It has beaten the Nifty 50 over 1-year, 3-year and 5-year periods in the figures shown here. The gap is especially clear over 3 years and 5 years.

How does it compare with the listed peer funds on recent returns?
Its 1-year return is far below the silver-focused peers listed here, but its 3-year return is stronger than the peers with available 3-year figures. The comparison suggests a different short-term and long-term pattern.

Is there 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 Sushil Budhia, Shirish Guthe and Vikram Dhawan. The exit load is nil up to 10% of units and 1% for remaining units on or before 12 months, and there is no exit load after the holding period.

Bottom line

Nippon India Multi-Asset Omni FoF Direct Growth Plan looks better over longer holding periods than in the latest short-term stretch. Its benchmark-beating 3-year and 5-year numbers stand out, while the recent month and quarter were softer, though still less weak than the benchmark. The High Risk profile, together with a portfolio that mixes equity, gold, silver, debt and cash-like exposure, makes it suitable for investors who want multi-asset diversification and can tolerate swings rather than seek a straight-line return pattern.

Published on 16 September 2026 at 6:01 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.