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

Tata Multi Asset Allocation Fund Direct Growth Plan is at ₹27.9321 as of 17 September 2026, with scheme AUM of ₹5,241 Cr. Its 1-year, 3-year and 5-year returns are 5.82%, 12.49% and 12.12%, and the fund sits in the High Risk bucket. Our view is that it has rewarded patient investors better over longer stretches than in the past year, while the portfolio mix across equity, commodities and cash may make it behave differently from a plain equity fund.

For investors who can stay with a multi-asset allocation approach through short-term swings, the fund offers a diversified structure rather than a narrow market bet. The recent return pattern is softer than the 3-year and 5-year figures, so the fund looks more suited to a medium- to long-term horizon than to short holding periods.

Quick facts

Particular	Details
NAV	₹27.9321 as of 17 Sep 2026
AUM	₹5,241 Cr
Expense Ratio	0.4%
Launch Date	04 Mar 2020
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Hybrid
Exit Load	0.50% on or before 30D, Nil after 30D
Fund Managers	Rahul Singh (Tata), Sailesh Jain, Murthy Nagarajan, Amit Somani

The fund is managed by Rahul Singh (Tata), Sailesh Jain, Murthy Nagarajan and Amit Somani.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2%	-3.66%
3M	-0.8%	-3.71%
1Y	5.82%	-7.13%
3Y	12.49%	5.82%
5Y	12.12%	5.72%

The recent picture is mixed but not weak. Over 1 month and 3 months, the fund was negative, yet it held up better than the benchmark in both periods, which suggests the portfolio has still cushioned the fall relative to Nifty 50.

The longer view is more constructive. The 1-year return turned positive while the benchmark stayed negative, and the 3-year and 5-year returns both remained well above the benchmark’s figures. That gap tells us the fund has historically compounded better than the benchmark over fuller market cycles.

The 1-year figure is softer than the 3-year and 5-year numbers, so recent momentum has not matched the longer-run pattern. Even so, the fund’s shorter-term drawdown has been milder than the benchmark’s, which is useful for investors who prefer some stability around the core trend.

Overall, the trajectory suggests a fund that has weathered a choppy stretch better than the benchmark while still showing decent medium-term compounding. The trade-off is that the path is unlikely to feel smooth, especially in the shorter windows.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD Tata 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

Fund	1Y return	3Y return	5Y return
Tata Multi Asset Allocation Fund Direct Growth Plan	5.82%	12.49%	12.12%
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

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

On 1-year returns, this fund trails the stronger peer figures by a clear margin, although it is still ahead of the weaker benchmark result for the same period. That makes the recent one-year outcome look modest rather than disappointing in a relative sense.

The longer-term picture is more balanced. Where 3-year and 5-year figures are available, this fund lags Quant Multi Asset Allocation Fund Direct Growth Plan, but it still shows solid multi-year compounding and a steadier path than the benchmark over the same horizons.

The peer group also tells two different stories. Some peers only have a 1-year figure available, while the funds with longer histories show a wider spread in outcomes, so the comparison is helpful for reading style and consistency rather than for drawing a single simple conclusion.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
I) Repo	Cash & Cash Equivalents and Net Assets	8.65%
Tata Gold Exchange Traded Fund	Domestic Mutual Funds Units – Gold	6.02%
Silver (30 KG) Commodity^	Derivatives-Futures	5.58%
Gold (1 KG-1000 GMS) Commodity^	Derivatives-Futures	4.26%
Reliance Industries Ltd	Crude Oil	3.7%
HDFC Bank Ltd	Bank	3.42%
ICICI Bank Ltd	Bank	3.3%
Bharti Airtel Ltd	Telecom	2.56%
Tata Silver Exchange Traded Fund	Domestic Mutual Funds Units – Silver	2.29%
Axis Bank Ltd	Bank	1.75%

The top 10 holdings account for approximately 41.53% of the portfolio.

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

The largest holding is I) Repo at 8.65%, so the fund keeps a meaningful cash-like cushion at the top of the book. That position is larger than any single stock holding in the list, which may help moderate day-to-day swings, but it also shows the portfolio is not fully invested in one dominant equity idea.

The drop from 8.65% to 1.75% by the tenth holding is fairly steep. That pattern suggests the displayed book is led by a few larger positions, after which individual weights become much smaller and more diversified across the tail.

With the top 10 holdings accounting for 41.53% of a 74-holding portfolio, the structure looks spread across many positions rather than tightly concentrated. At the same time, the visible top holdings still look influential enough to matter for near-term behaviour, especially because commodity exposure and cash are both prominent in the mix.

Source data date: as of 17 Sep 2026

Who should invest

This fund suits investors who can accept High Risk and stay invested long enough for the multi-asset approach to work through market swings. The one-year return is much softer than the 3-year and 5-year numbers, so the main requirement is patience rather than a need for steady short-term results.

Its benchmark comparison and peer comparison both suggest that the fund can hold up better than Nifty 50 in weaker periods, but the returns are not the strongest in the peer set. The trade-off is clear: you get a diversified mix that may reduce reliance on a single asset class, but you have to live with uneven short-term outcomes.

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% on or before 30D, Nil after 30D

Source data date: as of 17 Sep 2026

Frequently asked questions

What is the current NAV of Tata Multi Asset Allocation Fund Direct Growth Plan?
Its current NAV is ₹27.9321 as of 17 September 2026.

How has Tata Multi Asset Allocation Fund Direct Growth Plan performed over 1 year, 3 years and 5 years?
Its returns are 5.82% for 1 year, 12.49% for 3 years and 12.12% for 5 years.

How does the fund compare with the benchmark?
It has beaten the Nifty 50 over 1 year, 3 years and 5 years. The benchmark returns are -7.13%, 5.82% and 5.72% for those periods.

How does it compare with the peer funds listed here?
Its 1-year return is below several peers that have a 1-year figure available, while its 3-year and 5-year returns are lower than Quant Multi Asset Allocation Fund Direct Growth Plan where those longer figures are available.

Is there a minimum SIP requirement?
Yes, the minimum SIP amount is ₹100.

Who manages the fund and what is its exit load?
The fund is managed by Rahul Singh (Tata), Sailesh Jain, Murthy Nagarajan and Amit Somani. The exit load is 0.50% on or before 30D, and nil after 30D.

Bottom line

This fund’s recent 1-year performance is softer than its 3-year and 5-year record, so the longer view is clearly stronger than the latest stretch. Against the benchmark, it has been ahead across the periods shown, while peer comparison suggests the fund is competitive but not the strongest on available return data. The High Risk tag, the cash-and-commodity blend, and the wide 74-holding structure point to a diversified multi-asset fund that may suit investors with patience and tolerance for uneven short-term returns.

Published on 18 September 2026 at 4:35 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.