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

SBI MNC Fund Direct Growth Plan has a NAV of ₹460.2701 as of 09 Sep 2026 and an AUM of ₹6,717 Cr. Its 1-year, 3-year and 5-year returns are 17.31%, 7.43% and 8.58% respectively, and the scheme carries a High Risk label.

Our view is that this is a fund for investors who can stay patient through sharp swings and prefer a portfolio that is not built like a plain market tracker. Recent returns are stronger than the 3-year and 5-year figures, but the benchmark gap over longer periods and the concentrated portfolio shape mean the fund still asks for conviction.

Quick facts

Particular	Details
NAV	₹460.2701 as of 09 Sep 2026
AUM	₹6,717 Cr
Expense Ratio	1.27%
Launch Date	01 Jan 2013
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	1% on or before 30D, Nil after 30D
Fund Managers	Tanmaya Desai

The fund is managed by Tanmaya Desai.

Source data date: as of 09 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-0.62%	-4.69%
3M	11.51%	0.93%
1Y	17.31%	-7.16%
3Y	7.43%	6%
5Y	8.58%	5.87%

The recent numbers are better than the benchmark across the short windows. Over 1 month, the fund fell less than the index, and over 3 months and 1 year it moved ahead by a clear margin. That tells us the latest stretch has been materially stronger than the benchmark, even though the path has not been smooth.

The longer picture is more measured. The 3-year return is only modestly above the benchmark, while the 5-year return is also ahead but not by a wide spread. So the fund has added value versus the index, but the edge has been uneven rather than consistently dominant.

The pattern in the recent series also points to a fund that can recover after setbacks, but not in a straight line. We see sharp dips followed by rebounds, which is consistent with a high-risk equity strategy that can move differently from the broader market. For an investor, that means the fund may suit a portfolio where short-term variation is acceptable in exchange for the possibility of stronger phases later.

Source data date: as of 09 Sep 2026

Should you BUY or HOLD SBI 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
SBI MNC Fund Direct Growth Plan	17.31%	7.43%	8.58%
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan	71.49%	36.55%	Data not available
Motilal Oswal Active Momentum Fund Direct Growth Plan	30.08%	Data not available	Data not available
Kotak Healthcare Fund Direct Growth Plan	28.85%	Data not available	Data not available
HDFC Pharma and Healthcare Fund Direct Growth Plan	28.6%	Data not available	Data not available
PGIM India Healthcare Fund Direct Growth Plan	27.47%	Data not available	Data not available

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

The current fund’s 1-year return is well below the fastest-moving peers in this list, especially the metal-and-energy fund and the momentum-led options. That said, the comparison becomes more balanced over longer periods because the current fund has usable 3-year and 5-year numbers while several peers do not, which limits how far we can read their longer-term record.

On the data that is available, the fund looks steadier than the most aggressive short-term names but less exciting on recent gains. The short-term story and the longer-term story are therefore different: the recent surge is respectable, while the multi-year record remains moderate rather than standout.

Source data date: as of 09 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Divi'S Laboratories Ltd.	Healthcare	5.64%
Cummins India Ltd.	Automobile & Ancillaries	4.56%
Bosch Ltd.	Automobile & Ancillaries	4.02%
Vedanta Aluminium Metal Ltd.	Non – Ferrous Metals	3.89%
Sona BLW Precision Forgings Ltd.	Automobile & Ancillaries	3.63%
Navin Fluorine International Ltd.	Chemicals	3.62%
Sun Pharmaceutical Industries Ltd.	Healthcare	3.55%
Aether Industries Ltd.	Chemicals	3.32%
ABB India Ltd.	Capital Goods	3.18%
Anthem Biosciences Ltd.	Healthcare	3.08%

The largest holding is Divi'S Laboratories Ltd. at 5.64%, which is meaningful but not extreme on its own. The tenth holding still sits at 3.08%, so the decline from the top position to the bottom of the visible list is fairly gentle rather than abrupt.

The visible portfolio looks spread across several businesses and sectors, with healthcare, automobile and ancillaries, chemicals, capital goods and metals all appearing among the biggest names. The top 10 holdings together account for approximately 38.49% of the portfolio, so the remaining disclosed holdings still matter. With 44 holdings in total, the fund may be less dependent on a single idea than a sharply concentrated portfolio, but the top names could still have greater influence on returns than the long tail.

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

Source data date: as of 09 Sep 2026

Who should invest

This fund fits investors who are comfortable with High Risk equity exposure and can hold through uneven performance. The 1-year return is much stronger than the 3-year and 5-year figures, so the recent improvement may appeal to someone who can accept periods of fluctuation rather than expecting a smooth ride.

The benchmark comparison shows that the fund has been ahead recently and modestly ahead over longer periods, which suggests it can add value without being a simple index mimic. The portfolio also leans on a set of sizeable individual positions, so investors should be comfortable with stock-specific movement shaping outcomes.

In our view, the main trade-off is between the chance of stronger phases and the acceptance of volatility. A longer horizon is more appropriate than a short one, because the multi-year record and concentrated top holdings both point to a fund that needs patience.

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 30 days. There is no exit load after the holding period.

Source data date: as of 09 Sep 2026

Frequently asked questions

What is the current NAV of SBI MNC Fund Direct Growth Plan?
The NAV is ₹460.2701 as of 09 Sep 2026.

What are the 1-year, 3-year and 5-year returns?
The returns are 17.31% for 1 year, 7.43% for 3 years and 8.58% for 5 years.

How has the fund performed against the benchmark?
It has been ahead of the Nifty 50 over 1 month, 3 months, 1 year, 3 years and 5 years. The margin is most visible in the recent periods.

Which holdings carry the most weight?
Divi'S Laboratories Ltd. is the largest holding at 5.64%, followed by Cummins India Ltd. at 4.56% and Bosch Ltd. at 4.02%.

Who manages the fund?
The fund is managed by Tanmaya Desai.

What is the exit load and tax treatment?
The exit load is 1% if units are sold on or before 30 days, and there is no exit load after that. Short-term gains are taxed at 20%, while long-term gains are taxed at 12.5%.

Bottom line

SBI MNC Fund Direct Growth Plan has a stronger recent run than its longer-term record, and it has also stayed ahead of the benchmark on the periods shown. Even so, the multi-year return profile is moderate rather than aggressive, so the fund reads more as a high-risk equity option with uneven compounding than as a consistent outlier. The top holdings are sizeable but not overwhelming, which may help diversification within the scheme, while still leaving individual names with meaningful influence. It suits investors who can tolerate volatility and prefer a portfolio that may behave differently from the broad market.

Published on 10 September 2026 at 1:06 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.