Tata India Innovation Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Tata India Innovation Fund Direct Growth Plan has a NAV of ₹10.3931 as of 11 September 2026 and scheme AUM of ₹1,345 Cr. Its 1-year, 3-year and 5-year returns are 2.61%, 0% and 0%, and the fund is marked High Risk.

Our view is that this is a niche equity option rather than a broad-market core holding. The return record is still short, the benchmark comparison is uneven, and the portfolio has a set of large positions that can make outcomes depend heavily on stock selection.

Quick facts

Particular	Details
NAV	₹10.3931 as of 11 Sep 2026
AUM	₹1,345 Cr
Expense Ratio	0.55%
Launch Date	28 Nov 2024
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	0.50% on or before 30D, Nil after 30D
Fund Managers	Meeta Shetty, Hasmukh Vishariya

The fund is managed by Meeta Shetty and Hasmukh Vishariya.

Source data date: as of 11 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-1.12%	-4.81%
3M	4.45%	-3.63%
1Y	2.61%	-8.27%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The fund’s recent path is better than the benchmark over 1 month, 3 months and 1 year, which tells us it has been more resilient than Nifty 50 in the latest period. That said, the 1-year return of 2.61% is still modest for an equity fund, so the recent edge is more about relative defence than strong absolute compounding.

At the same time, the available return record is short, so we do not yet have a long trail of evidence across full market cycles. The daily pattern behind the recent figures shows a phase of weakness, a gradual recovery and then a softer patch at the end, which suggests the fund can move in uneven bursts rather than in a steady line.

Compared with Nifty 50, the gap is clear: the benchmark is negative over all the displayed periods, while the fund is positive over 1 month, 3 months and 1 year. That relative outperformance matters, but it should be read alongside the still-limited absolute return level and the fact that 3-year and 5-year figures are not yet available.

For investors, the main takeaway is that the fund has shown better short-term behaviour than the benchmark, but the evidence base is still early. We would treat the latest gains as encouraging rather than conclusive.

Source data date: as of 11 Sep 2026

Should you BUY or HOLD Tata India Innovation?

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
Tata India Innovation Fund Direct Growth Plan	2.61%	Data not available	Data not available
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan	69.16%	37.12%	Data not available
Motilal Oswal Active Momentum Fund Direct Growth Plan	30.67%	Data not available	Data not available
Kotak Healthcare Fund Direct Growth Plan	28.09%	Data not available	Data not available
HDFC Pharma and Healthcare Fund Direct Growth Plan	27.47%	Data not available	Data not available
SBI Automotive Opportunities Fund Direct Growth Plan	27.05%	Data not available	Data not available

The fund’s 1-year return is far below the strongest available peer figures, which tells us the recent stretch has been much milder than the better-performing funds in this group. On the 3-year view, only one peer has a usable figure, and that peer is materially ahead, so the longer available comparison does not yet show the fund catching up.

That said, the peer picture is incomplete on 3-year and 5-year numbers, so we should avoid overreading the gaps. The more reliable takeaway is that the fund’s short-term return profile trails several peer options, even though it has still done better than the benchmark over the same periods.

Source data date: as of 11 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
I) Repo	Cash & Cash Equivalents and Net Assets	5.63%
ICICI Bank Ltd	Bank	5.16%
HDFC Bank Ltd	Bank	3.82%
Reliance Industries Ltd	Crude Oil	3.48%
Axis Bank Ltd	Bank	3.34%
Adani Ports and Special Economic Zone Ltd	Logistics	3.06%
Bharti Airtel Ltd	Telecom	3.02%
Eternal Ltd	Retailing	2.8%
Tech Mahindra Ltd	IT	2.69%
Mahindra & Mahindra Ltd	Automobile & Ancillaries	2.56%

The top 10 holdings account for approximately 35.56% of the portfolio.

To see all holdings, visit the Tata India Innovation Fund Direct Growth Plan page

The largest holding, I) Repo at 5.63%, is not dominant on its own, but it is still the single biggest position in the disclosed list. The next few positions are close enough that no one stock overwhelms the mix immediately after the first row, yet the top weight still matters because it sits in cash and equivalents rather than an operating business.

The drop from 5.63% to 2.56% by the tenth holding shows a fairly steady taper rather than a sharp cliff. That pattern suggests influence is shared among several names, though the higher end of the list may still move the fund more than the smaller positions in the tail.

With 35.56% of the portfolio in the displayed top 10 and 55 holdings disclosed in total, the fund appears moderately concentrated rather than evenly spread. That structure may give the managers room to express conviction, but it also means a limited set of positions could contribute meaningfully to outcomes.

Source data date: as of 11 Sep 2026

Who should invest

This fund fits investors who are comfortable with High Risk equity exposure and can stay patient through uneven performance. The 1-year return is positive while the benchmark is negative, but the absence of 3-year and 5-year figures means the track record is still early and should be treated cautiously.

It is more suitable for a longer horizon and for someone who can accept that short-term resilience does not automatically translate into strong long-run compounding. The main trade-off is between the possibility of differentiated stock-driven returns and the uncertainty that comes with a young, concentrated equity portfolio.

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: 0.50% if units are sold on or before 30 days; nil after 30 days.

Source data date: as of 11 Sep 2026

Frequently asked questions

What is the current NAV of Tata India Innovation Fund Direct Growth Plan?

The current NAV is ₹10.3931 as of 11 September 2026.

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

Its 1-year return is 2.61%, while the 3-year and 5-year returns are both 0% in the displayed performance record.

How has the fund performed against Nifty 50 recently?

The fund has done better over 1 year than Nifty 50, which is at -8.27%, and it has also held up better over 3 months and 1 month. Even so, the fund’s return profile remains modest rather than strong on a longer view.

How does it compare with the listed peer funds on return data?

On the available 1-year figures, several peer funds have much stronger returns, such as ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan at 69.16% and Motilal Oswal Active Momentum Fund Direct Growth Plan at 30.67%. The comparison is less complete for 3-year and 5-year figures because many peer entries do not have values for those periods.

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 Meeta Shetty and Hasmukh Vishariya. The exit load is 0.50% if units are sold on or before 30 days, and nil after 30 days.

Bottom line

Tata India Innovation Fund Direct Growth Plan has shown a better recent return pattern than its benchmark, but its long-run record is still too short to judge confidently on 3-year or 5-year numbers. The portfolio is fairly concentrated across a limited set of positions, which may help active bets work, but also raises dependence on stock selection. Compared with the listed peer funds, the fund’s 1-year return looks modest. It suits investors who can accept High Risk equity exposure and are comfortable giving the strategy time.

Published on 16 September 2026 at 7:58 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.