Sundaram Conservative Hybrid Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Sundaram Conservative Hybrid Fund Direct Growth Plan currently has a NAV of ₹32.659 as of 10 Sep 2026 and scheme AUM of ₹18 Cr. Its 1-year, 3-year and 5-year returns are 0.55%, 5.38% and 6.73% respectively, and the scheme is placed in the Medium Risk category.

Our view is that this fund suits conservative investors who want a hybrid structure with a clear defensive tilt, but the recent return pattern is modest and short-term behaviour has been uneven versus the benchmark. The portfolio is heavily anchored in cash-like holdings and government securities, which may help temper volatility, though it can also limit upside when markets are stronger.

Quick facts

Particular	Details
NAV	₹32.659 as of 10 Sep 2026
AUM	₹18 Cr
Expense Ratio	0.86%
Launch Date	08 Jan 2013
Min SIP	₹250
Risk Category	Medium Risk
Benchmark	Nifty 50
Fund Category	Hybrid
Exit Load	No exit load after holding period
Fund Managers	Kumaresh Ramakrishnan, S. Bharath

The fund is managed by Kumaresh Ramakrishnan and S. Bharath.

Source data date: as of 10 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-0.92%	-4.06%
3M	1.25%	1.37%
1Y	0.55%	-7.31%
3Y	5.38%	6.07%
5Y	6.73%	5.91%

In the near term, the fund has held up better than the benchmark over 1 month and 1 year, even though the absolute 1-year return is still muted. That tells us the scheme has been comparatively defensive during a weak benchmark phase, but not especially strong in absolute growth terms.

The 3-month picture is steadier, with the fund and benchmark close to each other. That points to a calmer path than a high-octane hybrid strategy, but it also means the scheme has not been able to separate itself meaningfully in the last quarter.

Over 3 years, the fund trails the benchmark slightly, while over 5 years it moves ahead. Our reading is that the longer arc still supports the fund’s conservative structure, but the most recent year has been too soft to describe the trend as consistently strong. The path of returns also suggests that stability has come with some give-up in upside, which is typical for a defensive hybrid allocation.

For investors, the key takeaway is that the scheme has been more resilient than the benchmark in down phases, yet its medium-term compounding has remained moderate rather than powerful.

Source data date: as of 10 Sep 2026

Should you BUY or HOLD Sundaram Conservative Hybrid?

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 Sundaram Conservative Hybrid? Thinking of investing now?

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Peer comparison

Fund	1Y return	3Y return	5Y return
Sundaram Conservative Hybrid Fund Direct Growth Plan	0.55%	5.38%	6.73%
Nippon India Conservative Hybrid Fund Direct Growth Plan	7.43%	8.73%	8.32%
Parag Parikh Conservative Hybrid Fund Direct Growth Plan	5.76%	9.48%	9.48%
SBI Conservative Hybrid Fund Direct Growth Plan	5.62%	8.46%	8.74%
Baroda BNP Paribas Conservative Hybrid Fund Direct Growth Plan	5.54%	8.55%	7.59%
Aditya Birla SL Conservative Hybrid Fund Direct Growth Plan	5.15%	8.77%	8.17%

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

On recent numbers, the fund is well behind the stronger peer returns over 1 year, where the peer set sits in the mid-single digits while this scheme is close to flat. That weak short-term showing matters because it suggests the fund has not fully captured the rebound that several comparable conservative hybrid funds delivered.

The longer view is mixed rather than uniformly poor. At 3 years, the fund is below several peers, and at 5 years it also sits behind the better compounding names in the set. That said, it is not out of line with every peer, and its 5-year return still reflects a positive long-run outcome. The short-term story and the longer-term story therefore point in the same direction: steadier than aggressive equity-heavy funds, but not among the stronger compounders in this group.

For investors comparing similar conservative hybrids, the main distinction is that this fund has offered more subdued growth while peers have delivered stronger recent and longer-run returns.

Source data date: as of 10 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
TREPS	Cash & Cash Equivalents and Net Assets	52.25%
6.36% Central Government Securities 16/02/2031	Government Securities	20.96%
Bajaj Housing Finance Ltd – 7.64% – 01/07/2030	Corporate Debt	5.22%
Bharti Airtel Ltd	Telecom	2.30%
Reliance Industries Ltd	Crude Oil	2.03%
HDFC Bank Ltd	Bank	1.87%
State Bank of India	Bank	1.34%
Cash and Other Net Current Assets^	Cash & Cash Equivalents and Net Assets	1.24%
ICICI Bank Ltd	Bank	1.23%
Infosys Ltd	IT	1.02%

The single largest holding, TREPS, is 52.25% of the portfolio, so more than half of the scheme is parked in a very liquid cash-equivalent exposure. That kind of positioning may help keep day-to-day swings relatively contained, but it also means return generation depends heavily on the smaller active risk allocation.

The weight then falls sharply to 20.96% in central government securities and drops again to 5.22% in corporate debt. After that, individual equity positions are all below 2.5%, with the tenth holding at 1.02%. The gap between the top holding and the tail is wide, which tells us the portfolio is led by defensive assets rather than by a broad spread of similarly sized positions.

With the top 10 holdings accounting for 89.46% of the portfolio across 21 disclosed holdings, the scheme looks concentrated at the core even though the visible equity sleeve is diversified across several names. In our view, the structure may make the portfolio less sensitive to market shocks, while leaving only a limited portion to drive upside.

To see all holdings, visit the Sundaram Conservative Hybrid Fund Direct Growth Plan page

Source data date: as of 10 Sep 2026

Who should invest

This fund is better suited to investors who are comfortable with a medium-risk hybrid scheme and want a more defensive allocation than a pure equity fund. The 1-year result has been subdued, while the 3-year and 5-year numbers show moderate compounding rather than strong growth, so the investment case leans more toward stability and smoother participation than aggressive wealth creation.

The benchmark comparison also points to a conservative pattern: the fund has held up better in some weak periods, but it has not consistently outpaced the benchmark over all horizons. That makes it more appropriate for investors with a medium-to-long horizon who can accept lower upside in exchange for a portfolio that is anchored heavily in cash-like and debt holdings.

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: No exit load after holding period.

Source data date: as of 10 Sep 2026

Frequently asked questions

What is the current NAV of Sundaram Conservative Hybrid Fund Direct Growth Plan?

The current NAV is ₹32.659 as of 10 Sep 2026.

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

The 1-year return is 0.55%, the 3-year return is 5.38% and the 5-year return is 6.73%.

How has the fund performed against the benchmark?

It has done better than the benchmark over 1 month, 1 year and 5 years, but it trails the benchmark slightly over 3 years. That makes the overall picture mixed rather than uniformly ahead.

How does it compare with peer conservative hybrid funds on recent returns?

Its 1-year return is below the stronger peer figures in the set, while several peers also show higher 3-year and 5-year returns. The comparison suggests this scheme has been more subdued than many of its peers across both recent and longer horizons.

What is the minimum SIP amount?

The minimum SIP amount is ₹250.

What is the risk category and who manages the fund?

The fund is in the Medium Risk category. It is managed by Kumaresh Ramakrishnan and S. Bharath.

Bottom line

Sundaram Conservative Hybrid Fund Direct Growth Plan looks like a defensive hybrid scheme that has delivered modest long-term compounding, but its recent return profile has been softer than its better-performing peers. The benchmark comparison is mixed, with resilience in weaker stretches but limited consistency across all time frames. The portfolio is dominated by TREPS and government securities, so the scheme is built more for stability than for aggressive growth. That profile can suit investors who value capital preservation and can accept restrained upside over time.

Published on 11 September 2026 at 10:23 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.