Sundaram Multi Asset Allocation Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Sundaram Multi Asset Allocation Fund Direct Growth Plan has a current NAV of ₹13.6192 as of 17 Sep 2026 and scheme AUM of ₹3,406 Cr. Its 1-year, 3-year and 5-year returns are 4.83%, 0% and 0%, and the scheme is tagged High Risk.

Our view is that this is a diversified hybrid fund with a large gold sleeve and a meaningful equity-and-debt mix, but its recent return pattern has been uneven. The benchmark has also been weak over the same horizons, yet the fund’s short-term numbers still call for a careful look at consistency rather than a quick judgement on the category.

Quick facts

Particular	Details
NAV	₹13.6192 as of 17 Sep 2026
AUM	₹3,406 Cr
Expense Ratio	0.37%
Launch Date	25 Jan 2024
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Hybrid
Exit Load	Nil upto 30% of units and 1% for remaining units on or before 365D, Nil after 365D
Fund Managers	Rohit Seksaria, Clyton Richard Fernandes, Kumaresh Ramakrishnan, Arjun Nagarajan

The fund is managed by Rohit Seksaria, Clyton Richard Fernandes, Kumaresh Ramakrishnan and Arjun Nagarajan.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.95%	-3.66%
3M	-0.17%	-3.71%
1Y	4.83%	-7.13%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

On the shorter horizons, the fund has been less volatile than the benchmark and has held up better through the recent weakness. The 1-month return is still negative, but it declined less than the benchmark, and the 3-month result was close to flat while the benchmark stayed deeper in the red.

The 1-year return is the clearest positive in the table. Even so, it sits in a modest range rather than a strong growth run, which tells us the fund has recovered better than the benchmark but has not built a broad, sustained advance over the period we can see.

The chart pattern also suggests a choppy path rather than a smooth compounding line. There was a stronger stretch in the middle of the 1-year window, followed by reversals later, so our view is that the recent profile is still forming and has not yet settled into a durable trend.

Against the benchmark, the fund is ahead in every period shown, but the margin is most meaningful over 1 year and narrower in the recent 1-month and 3-month windows. That makes the recent behaviour look resilient relative to the index, while still leaving investors with a fund that has not yet shown long-run return history inside the available window.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD Sundaram Multi Asset Allocation?

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

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

Fund	1Y return	3Y return	5Y return
Sundaram Multi Asset Allocation Fund Direct Growth Plan	4.83%	Data not available	Data not available
360 ONE Multi Asset Allocation Fund Direct Growth Plan	18.54%	Data not available	Data not available
Quant Multi Asset Allocation Fund Direct Growth Plan	14.8%	21.38%	19.38%
Kotak Multi Asset Allocation Fund Direct Growth Plan	14.1%	Data not available	Data not available
Bandhan Multi Asset Allocation Fund Direct Growth Plan	12.25%	Data not available	Data not available
DSP Multi Asset Allocation Fund Direct Growth Plan	12.2%	Data not available	Data not available

Compared with the peer set on 1-year returns, the fund trails every named peer in the table. That gap is most visible versus 360 ONE and Quant, while the difference versus Bandhan and DSP is smaller but still clear.

For the longer periods where only one peer has usable figures, the contrast is still unfavourable: Quant shows stronger 3-year and 5-year returns than the fund’s currently available history. So the peer picture points to a weaker return profile so far, even though the benchmark comparison says the fund has handled the recent market backdrop better than NIFTY 50.

This split matters. Relative to the index, recent resilience stands out; relative to peers with usable history, the fund still needs a firmer return record before its performance profile looks competitive on a longer-horizon basis.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Sbi-Etf Gold	Domestic Mutual Funds Units – Gold	7.06%
Nippon India ETF Gold Bees	Domestic Mutual Funds Units – Gold	4.86%
ICICI Bank Ltd	Bank	4.79%
Kotak Mutual Fund – Gold Exchange Traded Fund	Domestic Mutual Funds Units – Gold	3.64%
Larsen & Toubro Ltd	Infrastructure	3.21%
HDFC Gold Exchange Traded Fund	Domestic Mutual Funds Units – Gold	3.13%
TREPS	Cash & Cash Equivalents and Net Assets	3.13%
7.38% Central Government Securities 20/06/2027*	Government Securities	3.12%
HDFC Bank Ltd	Bank	2.96%
Mahindra & Mahindra Ltd	Automobile & Ancillaries	2.94%

The largest disclosed holding is Sbi-Etf Gold at 7.06%, which is a meaningful single position but not an outsized one by itself. The weight then steps down fairly gradually through the next few holdings, with a cluster of gold-linked positions still sitting near the top of the list and the 10th holding only slightly below 3%.

That shape suggests the fund may not depend on just one or two positions. The top 10 holdings together account for approximately 38.84% of the portfolio, and there are 59 disclosed holdings in total, so the visible book looks spread across a long tail rather than concentrated in a handful of dominant names.

Our view is that this mix may help diversify single-stock risk, but it also means the portfolio’s behaviour is likely to be influenced by multiple moving parts, especially because gold ETFs occupy several of the largest slots while equities and debt instruments also appear among the leaders.

To see all holdings, visit the Sundaram Multi Asset Allocation Fund Direct Growth Plan page

Source data date: as of 17 Sep 2026

Who should invest

This fund suits investors who can handle High Risk and are comfortable with a portfolio that mixes gold, equities and debt-like instruments. The return history shown here is short and uneven, so the fund fits better with an investment horizon that allows time for its multi-asset approach to play out rather than for quick outcome testing.

The main trade-off is that diversification may cushion parts of the journey, but the fund has not yet produced a strong long-run record inside the available history. Investors who want steadier benchmark-style behaviour may find the recent volatility and mixed peer comparison harder to accept, while those who want a multi-asset structure may see value in the broader mix.

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 upto 30% of units and 1% for remaining units on or before 365D, Nil after 365D.

Source data date: as of 17 Sep 2026

Frequently asked questions

What is the current NAV of Sundaram Multi Asset Allocation Fund Direct Growth Plan?

The current NAV is ₹13.6192 as of 17 Sep 2026.

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

The 1-year return is 4.83%, while the 3-year and 5-year returns are Data not available in the available history.

How does the fund compare with Nifty 50?

The fund has been ahead of Nifty 50 in the 1-month, 3-month and 1-year periods shown. The gap is strongest over 1 year, while the recent short-term edge is smaller.

How does it compare with the peer funds shown here?

Its 1-year return is below every peer listed in the table, and the only peer with longer-horizon figures, Quant Multi Asset Allocation Fund Direct Growth Plan, also has stronger 3-year and 5-year returns.

What is the minimum SIP amount?

The minimum SIP amount is ₹100.

Who manages the fund and what is the exit load?

The fund is managed by Rohit Seksaria, Clyton Richard Fernandes, Kumaresh Ramakrishnan and Arjun Nagarajan. The exit load is nil upto 30% of units and 1% for remaining units on or before 365D, and nil after 365D.

Bottom line

Sundaram Multi Asset Allocation Fund Direct Growth Plan has shown better recent resilience than Nifty 50, but its longer-horizon record inside the available history is still limited and uneven. Against peer funds with available figures, the 1-year return trails clearly, and the only peer with longer history also leads on 3-year and 5-year results. The portfolio is broad, with gold positions prominent at the top and a long tail of 59 holdings, which may soften concentration but also keeps outcomes dependent on several asset classes working together.

Published on 18 September 2026 at 11:54 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.