SBI Focused Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

SBI Focused Fund Direct Growth Plan currently has a NAV of ₹455.6169 as of 08 Sep 2026 and manages ₹51,247 Cr. Its 1-year, 3-year and 5-year returns are 14%, 15.94% and 12.38% respectively, and the scheme sits in the High Risk bucket. Our view is that this is a concentrated equity fund that has rewarded longer holding periods better than very short holding periods, but it still carries the swings expected from a high-risk portfolio.

The fund’s recent numbers are respectable, yet the more useful signal is that its mid- and long-term track record is steadier than the benchmark’s. The portfolio is led by a handful of sizable positions, so performance may depend more on stock selection than broad diversification. That makes it more suitable for investors who can tolerate volatility and want focused equity exposure rather than a smoother, index-like path.

Quick facts

Particular	Details
NAV	₹455.6169 as of 08 Sep 2026
AUM	₹51,247 Cr
Expense Ratio	0.77%
Launch Date	01 Jan 2013
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	0.25% on or before 30D, 0.10% after 30D but before 90D, Nil after 90D
Fund Managers	R. Srinivasan

The fund is managed by R. Srinivasan.

Source data date: as of 08 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.23%	-4.69%
3M	7.63%	0.93%
1Y	14%	-7.16%
3Y	15.94%	6%
5Y	12.38%	5.87%

Recent performance has been firm. Over 1 month, the fund held up better than the benchmark, and over 3 months it widened that gap with a strong positive return while the benchmark stayed close to flat. That tells us the fund’s near-term momentum has been healthier than the Nifty 50 over the same stretch.

The longer picture is also constructive. The 1-year return remains comfortably ahead of the benchmark, and the 3-year and 5-year figures both sit above the index. That means the fund has not only recovered from weaker patches, but has also compounded better than the benchmark over fuller holding periods.

The path has not been smooth, though. The return pattern over the 5-year window shows periods of softness and recovery rather than a straight upward climb, which is consistent with an equity strategy that can move around more than the index. Even so, the medium-term trend has improved meaningfully compared with the weaker phases inside the same period.

In our view, the key point is that the fund’s current strength is not just a short burst. The 3-year and 5-year numbers both support the idea that the fund has participated well in the equity cycle, while the benchmark comparison shows it has done more than simply follow the market.

Source data date: as of 08 Sep 2026

Should you BUY or HOLD SBI Focused?

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
Motilal Oswal Focused Fund Direct Growth Plan	28.74%	13.96%	10.67%
Old Bridge Focused Fund Direct Growth Plan	18.69%	Data not available	Data not available
ITI Focused Fund Direct Growth Plan	14.02%	18.86%	Data not available
SBI Focused Fund Direct Growth Plan	14%	15.94%	12.38%
Quant Focused Fund Direct Growth Plan	13.36%	13.41%	13.91%

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

On the latest 1-year number, the fund is comfortably below Motilal Oswal Focused Fund Direct Growth Plan and above Quant Focused Fund Direct Growth Plan, while ITI Focused Fund Direct Growth Plan is fractionally ahead. That tells us the fund is competitive, but not the standout on recent 12-month performance.

The longer-term view is more balanced. Its 3-year return is ahead of Quant Focused Fund Direct Growth Plan and close to the middle of this peer set, while its 5-year return is stronger than the peers with available 5-year data except it remains below Quant Focused Fund Direct Growth Plan on that horizon. The short-term picture and longer-term picture therefore do not tell exactly the same story: the latest year looks decent, but the 5-year lens suggests a more measured edge rather than a clear lead.

Source data date: as of 08 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Bajaj Finance Ltd.	Finance	8.46%
ICICI Bank Ltd.	Bank	7.66%
Alphabet Inc.	Overseas Equities	6.95%
TREPS	Cash & Cash Equivalents and Net Assets	5.82%
Kotak Mahindra Bank Ltd.	Bank	5.73%
State Bank of India	Bank	5.58%
Bharti Airtel Ltd.	Telecom	4.95%
Muthoot Finance Ltd.	Finance	4.76%
Solar Industries India Ltd.	Chemicals	4.32%
Adani Power Ltd.	Power	4.25%

The top 10 holdings account for approximately 58.48% of the portfolio.

To see all holdings, visit the SBI Focused Fund Direct Growth Plan page

The largest holding, Bajaj Finance Ltd. at 8.46%, is meaningful but not dominant on its own. The gap from the first holding to the tenth is not extreme, yet the weights do step down enough to show that the portfolio is built around several core positions rather than one overwhelming bet.

Because the top 10 holdings together account for 58.48% of the portfolio, the disclosed book looks moderately concentrated. That level of concentration can help if the chosen names perform well, but it may also make the fund more sensitive to stock-specific swings than a very broad fund.

With 28 disclosed holdings in total, the portfolio has a visible tail beyond the top positions, so the fund is not just a narrow handful of stocks. Still, the combined weight of the leading names suggests those positions may have greater influence on returns than the smaller holdings below them.

Source data date: as of 08 Sep 2026

Who should invest

This fund fits investors who are comfortable with High Risk and can stay invested long enough for the portfolio to work through equity-market cycles. The 3-year and 5-year numbers are stronger than the benchmark, which makes the fund more appealing for a medium- to long-term horizon than for short-term parking of money.

The main trade-off is that the portfolio is focused, not broadly diversified, so returns may move around more than a plain index-style equity option. Investors who want the possibility of better compounding than the benchmark and can accept short phases of uneven performance may find the risk-return profile easier to live with.

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: 0.25% on or before 30D, 0.10% after 30D but before 90D, Nil after 90D.

Source data date: as of 08 Sep 2026

Frequently asked questions

What is the current NAV of SBI Focused Fund Direct Growth Plan?
Its current NAV is ₹455.6169 as of 08 Sep 2026.

How has SBI Focused Fund Direct Growth Plan performed over 1 year, 3 years and 5 years?
Its returns are 14% over 1 year, 15.94% over 3 years and 12.38% over 5 years.

How does the fund compare with the Nifty 50 benchmark?
It has outperformed the benchmark across 1 month, 3 months, 1 year, 3 years and 5 years. The 5-year benchmark return is 5.87%, while the fund’s 5-year return is 12.38%.

Who manages SBI Focused Fund Direct Growth Plan?
R. Srinivasan manages the fund.

What is the minimum SIP amount?
The minimum SIP amount is ₹500.

What is the exit load and risk profile?
The fund is in the High Risk category. Exit load is 0.25% on or before 30D, 0.10% after 30D but before 90D, and nil after 90D.

Bottom line

SBI Focused Fund Direct Growth Plan shows a clearer edge over the benchmark over 3-year and 5-year periods than in the most recent year alone, which makes the longer-term case stronger than the short-term one. Relative to peers, the recent year is competitive but not exceptional, while the longer horizon looks more stable. The High Risk profile and concentrated portfolio mean this is better suited to investors who can handle volatility and want a focused equity approach with meaningful stock-specific influence.

Published on 10 September 2026 at 12:26 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.