TRUSTMF Short Term Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

TRUSTMF Short Term Fund Direct Growth Plan is a debt fund with a Balanced Risk profile. Its NAV is ₹1362.6702 as of 16 Sep 2026, and its AUM is ₹63 Cr. The fund’s 1-year, 3-year and 5-year returns are 5.41%, 7.13% and 6.17% respectively, which tells us it has been steadier over longer periods than in the most recent year.

Our view is that this fund may suit investors looking for a short-term debt allocation with moderate return potential and a fairly concentrated portfolio. The benchmark has moved less favourably than the fund over most periods, but the fund still shows some short-run softness. That makes it more suitable for investors who value income-oriented stability over fast upside.

Quick facts

Particular	Details
NAV	₹1,362.6702 as of 16 Sep 2026
AUM	₹63 Cr
Expense Ratio	0.23%
Launch Date	06 Aug 2021
Min SIP	₹1,000
Risk Category	Balanced Risk
Benchmark	Nifty 50
Fund Category	Debt
Exit Load	No exit load
Fund Managers	Jalpan Shah, Shradhanjali Panda

The fund is managed by Jalpan Shah and Shradhanjali Panda.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.28%	-4.41%
3M	1.45%	-3.60%
1Y	5.41%	-7.76%
3Y	7.13%	5.74%
5Y	6.17%	5.67%

Recent numbers look better for the fund than for the benchmark. The 1-month and 3-month periods show the fund holding up while the benchmark was negative, which suggests calmer behaviour in the latest stretch. That kind of relative resilience matters for a short-term debt strategy because it points to less sensitivity to the same market moves that weighed on the benchmark.

The longer view is also constructive. The 3-year return of 7.13% and 5-year return of 6.17% both sit ahead of the benchmark’s 5.74% and 5.67%. That means the fund has done a better job of compounding over medium and long periods than the benchmark reference used here. The gap is not huge, but it is consistent enough to matter.

At the same time, the latest year was weaker than the fund’s own 3-year and 5-year pace. We read that as a reminder that returns have not risen in a straight line. Even with a positive long-run trend, the most recent year shows the fund can still go through softer phases, so investors should judge it on multi-year behaviour rather than one short stretch.

Overall, the pattern looks steadier than the benchmark across the full set of periods, with the recent short-term periods also leaning in the fund’s favour. That combination gives the fund a more balanced profile than the benchmark indicates on its own.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD TRUSTMF Short Term?

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
TRUSTMF Short Term Fund Direct Growth Plan	5.41%	7.13%	6.17%
Tata Ultra Short Term Fund Direct Growth Plan	7.03%	7.51%	6.76%
Aditya Birla SL Ultra Short Term Fund Direct Growth Plan	6.68%	7.48%	6.74%
ICICI Pru Short Term Fund Direct Growth Plan	6.23%	7.75%	7.11%
Axis Short Term Fund Direct Growth Plan	5.96%	7.74%	6.76%
Mahindra Manulife Short Term Fund Direct Growth Plan	5.86%	7.68%	6.60%

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

The fund’s 1-year return trails the stronger peer figures in this set, especially Tata Ultra Short Term Fund Direct Growth Plan and Aditya Birla SL Ultra Short Term Fund Direct Growth Plan. The same pattern shows up over 3 years and 5 years, where the fund is behind several peers with available data. That said, the gap is not uniform across all periods, because the fund still stays close to the middle of the pack on a few measures rather than falling sharply away.

The short-term comparison therefore looks softer than the longer-term story. Over 3 years and 5 years, the fund still compounds respectably, but the peer set includes several options with somewhat higher returns on the same horizons. For investors comparing only return history, the trade-off is a slightly gentler recent profile versus peers that have posted stronger gains over both medium and longer periods.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
6.95% REC Limited (18/02/2028)	Corporate Debt	15.71%
Indian Bank (24/06/2027)	Certificate of Deposit	14.97%
TREPS 01-Sep-2026	Cash & Cash Equivalents and Net Assets	13.52%
7.35% Export Import Bank of India (27/07/2028)	Corporate Debt	10.28%
7.48% National Bank for Agriculture and Rural Development (15/09/2028)	Corporate Debt	9.47%
7.74% LIC Housing Finance Limited (11/02/2028)	Corporate Debt	7.91%
7.7951% Bajaj Finance Limited (10/12/2027)	Corporate Debt	7.90%
6.47% Indian Railway Finance Corporation Limited (30/05/2028)	Corporate Debt	7.79%
7.20% Power Grid Corporation of India Limited (09/08/2027)	Corporate Debt	6.32%
364 Days Tbill (MD 04/03/2027)	Treasury Bills	2.69%

The largest holding is 6.95% REC Limited (18/02/2028) at 15.71%, so a single credit position may still have a meaningful influence on day-to-day fund behaviour. The second and third holdings are also fairly large, at 14.97% and 13.52%, which tells us the portfolio is not built around one dominant line item but around a cluster of significant positions.

The drop from the top holding to the tenth holding is noticeable, but not abrupt. By the time we reach the tenth position, the weight is 2.69%, so the visible sleeve moves from double-digit allocations into much smaller tickets fairly quickly. That pattern suggests the portfolio is partly concentrated in its largest positions while still carrying a wider supporting set beneath them.

The top 10 holdings account for approximately 96.56% of the portfolio. With 12 total holdings disclosed, this is a relatively compact portfolio, and the disclosed slice leaves limited room for a long tail to offset the influence of the largest names. That concentration may help keep the portfolio focused, but it also means investors should be comfortable with the fact that a small set of positions is likely to matter most.

To see all holdings, visit the TRUSTMF Short Term Fund Direct Growth Plan page

Source data date: as of 16 Sep 2026

Who should invest

This fund may fit investors who can accept a Balanced Risk profile and want debt exposure with a focus on multi-year steadiness rather than sharp short-term gains. The 1-year return is weaker than the 3-year and 5-year figures, so the fund looks better suited to a horizon long enough to ride through softer patches. Its returns have generally held up better than the benchmark across the same periods, which supports its case as a more stable debt-style holding.

Investors who prefer a compact portfolio and are comfortable with a few large positions may find the structure acceptable. The main trade-off is that the fund has delivered respectable compounding, but not in a straight line, and the recent year has been less convincing than the longer run. That makes it more appropriate for investors seeking measured debt returns and who do not need the most aggressive recent upside among comparable options.

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.

Source data date: as of 16 Sep 2026

Frequently asked questions

What is the current NAV of TRUSTMF Short Term Fund Direct Growth Plan?

The current NAV is ₹1362.6702 as of 16 Sep 2026.

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

The fund’s 1-year return is 5.41%, its 3-year return is 7.13%, and its 5-year return is 6.17%.

How has the fund performed versus the benchmark?

The fund has done better than the benchmark across the main periods shown here. It is also steadier in the short term, with positive recent returns while the benchmark periods are negative.

How does the fund compare with peer funds on returns?

The fund trails several peer options on the 1-year, 3-year and 5-year figures shown here. The gap is not extreme, but other peer funds in the list have posted stronger returns on the same horizons.

What is the minimum investment through SIP?

The minimum SIP amount is ₹1000.

Who manages the fund and what is the exit load?

The fund is managed by Jalpan Shah and Shradhanjali Panda. There is no exit load.

Bottom line

TRUSTMF Short Term Fund Direct Growth Plan has a steadier longer-term record than its latest year suggests. It has also held up better than the benchmark across the periods shown, although several peer funds have delivered stronger returns on the same horizons. The portfolio is fairly compact, with a small set of larger positions carrying meaningful weight. For investors who want a debt fund with measured return potential and are comfortable with moderate risk, it is a reasonable candidate to study on a multi-year basis.

Published on 17 September 2026 at 11:15 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.