HybridMulti Asset AllocationDirectGrowthHigh

Nippon India Multi Asset Allocation Fund

Q: What is the NAV of Nippon India Multi Asset Allocation Fund?

As of 01 Oct 2026, the NAV of Nippon India Multi Asset Allocation Fund is ₹26.21 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Nippon India Multi Asset Allocation Fund delivered?

Nippon India Multi Asset Allocation Fund has returned +7.75% over 1 year, +18.08% per year over 3 years, +14.88% per year over 5 years and +17.31% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

Q: What is the expense ratio of Nippon India Multi Asset Allocation Fund?

Nippon India Multi Asset Allocation Fund charges an expense ratio of 0.47% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of Nippon India Multi Asset Allocation Fund?

Nippon India Multi Asset Allocation Fund's largest holdings are iShares MSCI World ETF (4.6%), ICICI Bank Limited (3.8%), HDFC Bank Limited (3.0%), Axis Bank Limited (2.2%) and State Bank of India (1.9%). Holdings are disclosed monthly and change over time.

Q: How risky is Nippon India Multi Asset Allocation Fund?

Nippon India Multi Asset Allocation Fund is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 10.0% and its worst peak-to-trough fall in our sample was -10.8%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What does the Sharpe ratio of 1.15 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Nippon India Multi Asset Allocation Fund's 1.15 means it has rewarded its volatility with excess return. Higher is better.

Q: Who manages Nippon India Multi Asset Allocation Fund?

Nippon India Multi Asset Allocation Fund is managed by Vinay Sharma, Vikram Dhawan, Sushil Budhia, Kinjal Desai and Amber Singhania at Nippon India.

Q: How is Nippon India Multi Asset Allocation Fund taxed?

Nippon India Multi Asset Allocation Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.

Nippon India Mutual Fund · Best Multi Asset Allocation Mutual Funds

NAV

₹26.21

-0.50% 1D

as of 01 Oct 2026

This is the Direct plan of Nippon India Multi Asset Allocation Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.

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Performance

+8.55%CAGR

52-week rangePrev NAV ₹26.35

Latest ₹26.21

Low ₹24.3255th percentile of its 52-week rangeHigh ₹27.76

Scorecard

★★★★★5/5 vs 15 of 36 Multi Asset Allocation peers

Performance 60%
Risk 15%
Cost 10%
Downside 15%

How this is computed

Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Multi Asset Allocation (same plan and option). 15 of the 36 Multi Asset Allocation funds in this cohort carry the full record the stars need, so they are the ones ranked against.

PerformanceStrong

3Y CAGR +18.08% · ranks 2 of 15 Multi Asset Allocation funds

RiskModerate

Volatility 10.0% vs 9.9% category avg

CostLow

0.5% expense vs 0.9% category avg

ConsistencyHigh

100% of rolling 3Y windows were positive

Strengths & concerns

Generated from this fund's own numbers against its sub-category — each point names the figure behind it.

Strengths

Ahead of the Multi Asset Allocation average on 3M/6M/1Y — 1Y by 2.02pp
3-year return (+18.08%) beats the Multi Asset Allocation average (+14.23%)
5-year return (+14.88%) beats the Multi Asset Allocation average (+12.74%)
Stronger risk-adjusted returns — Sharpe 1.15 vs 0.86 Multi Asset Allocation average
Low expense ratio (0.47%) vs the Multi Asset Allocation average of 0.91%

Concerns

No significant concerns identified.

Key Metrics

Annual fee charged by the fund, already deducted from NAV

0.47%

Category 0.91%▼0.44%

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

19.78

Category 21.99▼2.21

Excess return per unit of total volatility (rf = 6.5%)

1.15

Category 0.86▲0.29

Scheme Info

Definitions

Plan

Direct · Growth

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

None

10% of the units allotted shall be redeemed without any exit load, on or before completion of 12 months from the date of allotment of units. Any redemption in excess of such limit in the first 12 months from the date of allotment shall be subject to the following exit load. Redemption of units would be done on First in First out Basis (FIFO): • 1% if redeemed or switched out on or before completion of 12 months from the date of allotment of units. • Nil, if redeemed or switched out after completion of 12 months from the date of allotment of units.

Up to 1.00%

tiered — see the full terms

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹100

Smallest one-time (lumpsum) investment the scheme accepts

₹5,000

Benchmark

—

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

31 Aug 2020

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

-3.88%

Absolute return over the last 3 months (not annualized)

-0.96%

Absolute return over the last 6 months (not annualized)

+5.49%

Absolute return since 1 Jan of this year (not annualized)

+1.99%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

+7.75%

3-year annualized return (CAGR)

+18.08%

5-year annualized return (CAGR)

+14.88%

10-year annualized return (CAGR)

—

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+17.31%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

10.04%

Excess return per unit of total volatility (rf = 6.5%)

1.15

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

1.58

Largest peak-to-trough decline over full history

-10.78%

Benchmark ratios (vs Nifty 50 TRI · 36 monthly returns)

Definitions

Jensen's alpha (annualized): return above what CAPM predicts for the fund's beta vs Nifty 50 TRI

10.68%

Sensitivity to Nifty 50 TRI moves; 1 = moves with the index

0.63

How much of the fund's movement Nifty 50 TRI explains

79.5%

Excess return per unit of beta (market risk)

18.89

Active return over the benchmark per unit of tracking error

1.75

Annualized std dev of fund-minus-benchmark returns

6.95%

Fund's share of benchmark gains in up months (100 = matches index)

94.0%

Fund's share of benchmark losses in down months (lower is better)

22.4%

Computed vs the Nifty 50 TRI over the last 36 complete months — the closest match to this fund's mandate. TRI means dividends reinvested, as they are in the fund's own NAV; ₹ means a US index converted at each day's USD/INR, since the fund is priced in rupees. Needs ~3 years of history; a low R² means the fund tracks the index loosely.

Fund vs category average (Multi Asset Allocation)

Period	Fund	Category avg.	Diff
1M abs	-3.88%	-3.36%	-0.52%
3M abs	-0.96%	-1.97%	+1.01%
6M abs	+5.49%	+4.48%	+1.01%
1Y CAGR	+7.75%	+5.73%	+2.02%
3Y CAGR	+18.08%	+14.23%	+3.85%
5Y CAGR	+14.88%	+12.74%	+2.14%

Category average across peers in Multi Asset Allocation (up to 36 funds with data), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).

Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.

Category rank

Vs 36 peers in Multi Asset Allocation

1Y return

+7.75%

Beats 66.7% · rank #11

3Y return

+18.08%

Beats 92.9% · rank #2

5Y return

+14.88%

Beats 85.7% · rank #2

Sharpe

1.15

Beats 78.6% · rank #4

Sortino

1.58

Beats 78.6% · rank #4

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹8.78L

Absolute

+46.36%

XIRR

+15.71%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into Nippon India Multi Asset Allocation Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.

Calendar-year returns

What the fund actually returned in each year, not the smoothed average.

Year	Fund	Nifty 50 TRI	Diff
2026part	+1.99%	-12.85%	+14.84%
2025	+20.96%	+11.97%	+8.99%
2024	+20.14%	+10.16%	+9.98%
2023	+25.92%	+21.69%	+4.23%
2022	+4.63%	+5.68%	-1.05%
2021	+21.10%	+25.49%	-4.39%
2020part	+11.71%	—	—

January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in; those years show no benchmark comparison.

Recent changes

Expense-ratio, fund-manager, exit-load and minimum-investment changes we've picked up in the last 30 days.

Expense ratio up: 0.35% → 0.47%
09 Sep 2026

History points

1,499

Expense ratio

0.47%

AUM

₹15,069Cr

Portfolio turnover

76%

Exit load

P/E ratio

19.8

P/B ratio

4.2

Avg market cap

₹3,70,688Cr

P/E & P/B are portfolio-weighted harmonic means across 78 of 89 equity holdings (50% of the portfolio); loss-making companies are excluded.

Taxation

Taxed as equity

This is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.

Short-term (STCG)

20%

Held under 1 year

Flat, on the whole gain

Long-term (LTCG)

12.5%

Held 1 year or more

On gains above ₹1.25 L per financial year

Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.

Peer comparison · Multi Asset Allocation

Compare all


Nippon India Multi Asset Allocation FundThis fund Nippon India · Direct · Growth	★★★★★	+7.75%	+18.08%	+14.88%	19.78	0.47%	₹15,069Cr
Quant Multi Asset Allocation Fund quant · Direct · Growth	★★★★☆	+13.21%	+22.38%	+18.73%	21.42	1.13%	₹5,474Cr
DSP Multi Asset Allocation Fund DSP · Direct · Growth	★★★★★	+8.47%	+17.42%	—	17.06	0.63%	₹9,515Cr
Kotak Multi Asset Allocation Fund Kotak Mahindra · Direct · Growth	★★★☆☆	+10.24%	+17.13%	—	15.50	0.64%	₹13,629Cr
WhiteOak Capital Multi Asset Allocation Fund WhiteOak Capital · Direct · Growth	★★★★☆	+9.19%	+16.52%	—	23.28	0.65%	₹7,308Cr
Aditya Birla Sun Life Multi Asset Allocation Fund Aditya Birla Sun Life · Direct · Growth	★★★★☆	+7.99%	+15.40%	—	24.03	0.67%	₹6,638Cr

Market-cap allocation · AMFI bands, Jul 2026

Equity holdings by company size — 100% of the equity sleeve priced.

Large cap71.3%
Mid cap17.4%
Small cap11.3%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity55.78%
Debt19.89%
Cash & Equivalents16.75%
Real Estate / REITs7.58%

Holds the same stocks as (by portfolio overlap, not by category)

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Nippon India Balanced Advantage Fund Nippon India · Dynamic Asset Allocation or Balanced Advantage	56.5% of 72% equity	★★★★☆	0.89%	+9.88%
Nippon India Flexi Cap Fund Nippon India · Flexi Cap Fund	54.8%	★★☆☆☆	0.65%	+9.14%
Aditya Birla Sun Life Large Cap Fund Aditya Birla Sun Life · Large Cap Fund	53.2%	★★★☆☆	1.04%	+8.50%
Nippon India Large Cap Fund Nippon India · Large Cap Fund	53.0%	★★★★★	0.88%	+9.75%
Axis Balanced Advantage Fund Axis · Dynamic Asset Allocation or Balanced Advantage	52.0% of 76% equity	★★★★☆	1.07%	+10.83%
Canara Robeco Large Cap Fund Canara Robeco · Large Cap Fund	51.8%	★★★★☆	0.63%	+9.16%
Bandhan Nifty 100 Index Fund Bandhan · Index Funds	51.2%	★★★★☆	0.18%	+7.65%
Nippon India ETF Nifty 100 Nippon India · Other ETFs	51.2%	—	0.51%	+7.29%

Overlap is the share of each fund's equity book invested in the same stocks, by weight, across the Direct-plan universe — so a fund that is only part equity is labelled as such. ! marks a pair holding more in common than nine pairs in ten of its type, where that type has a measured distribution.

🚩Holdings under NSE surveillance (ASM)

2 holdings — 0.60% of the portfolio — sit in stocks NSE currently lists under its Additional Surveillance Measure. ASM is an exchange response to unusual price or volume activity (higher margins, and trade-for-trade settlement at stage II), not a view on the company or on this fund.

BlueStone Jewellery and Lifestyle LimitedLong-term · Stage I0.45%
Cyient DLM LimitedLong-term · Stage I0.15%

Source: NSE ASM list, matched to holdings by company name — a holding whose name differs from NSE's spelling may not be matched. BSE's separate list is not covered.

Worst falls, and the wait to get back

How far this fund has dropped from a high, and how long it took to reclaim it.

-10.8%29 Jan 2026 → 23 Mar 2026
Fell over 2 months, back to the old high on 06 Aug 2026 — 4 months under water after the low.
-9.5%04 Apr 2022 → 20 Jun 2022
Fell over 3 months, back to the old high on 12 Aug 2022 — 2 months under water after the low.
-8.0%27 Sep 2024 → 07 Apr 2025
Fell over 6 months, back to the old high on 12 May 2025 — 35 days under water after the low.

Measured on this fund’s own NAV history, peak to trough to the day it regained the peak. Falls shallower than 5% are left out. A recovery date is when the NAV got back, not when any particular investor did — that depends on when they bought.

Fund size over time

Quarterly average AUM · AMFI

₹15,069Cr

April - June 2026

+20%

since January - March 2026

+₹2,525Cr

est. net flow, last quarter

At or near its largest, ₹15,069Cr in April - June 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.

Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.

AMC Profile

Nippon India Mutual Fund is managed by Nippon Life India Asset Management, which took control of the former Reliance Mutual Fund in 2019 when Nippon Life of Japan bought out the Reliance Capital stake. It is among India's largest fund houses by assets and is best known for its small- and mid-cap franchise.

Launched

29 Jun 1995

Total AUM

₹7,87,053Cr+4.7% QoQ

Avg AUM · July - September 2026

Website

mf.nipponindiaim.com

Fund Managers

VSVinay SharmaManaging since 01 Jan 2026

Role

Fund Manager

Education

B.Arch, PGDCM

Experience

Over 21 years of experience April 2018 till date Nam India Fund Manager January 2010 till March 2018 ICICI Prudential Asset Management – Fund Manager Equities January 2007 – January 2010 AIG Global Asset Management Company – Equity Research Analyst Dec 2004 – January 2007 J P Morgan India Services Private Limited – Equity Research Analyst July 2004 – December 2004 UTI Bank – management trainee

Funds managed (3)

All schemes Vinay Sharma runs →

VDVikram DhawanManaging since 01 Aug 2020

Role

Fund Manager – Commodities

Education

B.E., PGDMM

Experience

Over 30 years of experience From August 1, 2019 till date NAM India – Fund Manager Commodities From February 27, 2019 - July 31, 2019 Nippon Life India AIF Management Limited – Fund Manager Commodities From October 16, 2017 - February 26, 2019 NAM India - Head Commodities May 2013 till September 2017 Commodity Risk Advisor May 2011 – Apr 2013 Risk Manager, Gold Matrix Pte, Singapore April 2009 – May 2011 Head Commodities, Reliance Capital Limited February 2007 – April 2009 Head Commodities, Reliance Mutual Fund April 2005 – January 2007 Head Commodities, Reliance Capital Limited January 2004 – March 2005 Head Commodity Risk Management, Vedanta Group November 2001 – December 2003 COO, Zee Gold Refinery (Shirpur Gold Refinery) August 2000 – October 2001 Country Manager, N.M. Rothschild & Sons. January 1998 – July 2000 Associate Director, Bank of Nova Scotia December 1994 – December 1997 Head Commodity Hedging, Birla Copper (Hindalco) September 1992 – November 1994 Materials Officer, Synthetics & Chemicals Ltd.

Funds managed (2)

All schemes Vikram Dhawan runs →

SBSushil BudhiaManaging since 01 Mar 2021

KDKinjal DesaiManaging since 01 Aug 2020

Role

Fund Manager - Overseas Investment

Education

MSc (Economics)

Experience

12 years of experience From May 25, 2018 onwards Fund Manager - Overseas Investment, NAM India December 2012 to May 24, 2018 Associate Equity Investements at NAM India Assisting Lead Analyst in Equity Research, idea generation and sector Monitoring., assisting Fund Managers in stock selection and monitoring of overseas investments

Funds managed (36)

All schemes Kinjal Desai runs →

ASAmber SinghaniaManaging since 01 Mar 2026

Education

MMS Finance (Mumbai University)

Experience

Over 22 years of experience From March 11, 2026 onwards Nippon Life India Asset Management Limited: Research Analyst - Equity & Assistant Fund Manager - Overseas Investment September 01, 2021 – March 10, 2026 Nippon Life India Asset Management Limited: Research Analyst - Equity, covering Consumer Durables, Cement, EMS and Capital Goods sectors. February 2014 – August 2021 Asian Markets Securities Pvt. Ltd : Senior Equity Research Analyst - Covered multiple sectors such as Infrastructure, Engineering & Capital Goods, EMS and Consumer Durables.

Funds managed (1)

Nippon India Corporate Bond Fund

All schemes Amber Singhania runs →

Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Benchmark and dealing terms from it and this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.

Explore from here

Fund managers

Vinay Sharma Vikram Dhawan Kinjal Desai

Top holdings

ICICI Bank Limited HDFC Bank Limited Axis Bank Limited State Bank of India Eternal Limited Mahindra & Mahindra Limited Infosys Limited Info Edge (India) Limited Reliance Industries Limited Hindustan Aeronautics Limited Trent Limited Hindustan Unilever Limited

Nippon India in the news

Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.

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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.

About Multi Asset Allocation funds

Multi asset funds spread money across at least three asset classes — typically equity, debt and gold — each at 10% or more. The mix aims to reduce the impact of any one asset having a bad year.

Frequently asked questions

What is the NAV of Nippon India Multi Asset Allocation Fund?

As of 01 Oct 2026, the NAV of Nippon India Multi Asset Allocation Fund is ₹26.21 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Nippon India Multi Asset Allocation Fund delivered?

Nippon India Multi Asset Allocation Fund has returned +7.75% over 1 year, +18.08% per year over 3 years, +14.88% per year over 5 years and +17.31% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

What is the expense ratio of Nippon India Multi Asset Allocation Fund?

Nippon India Multi Asset Allocation Fund charges an expense ratio of 0.47% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

What are the top holdings of Nippon India Multi Asset Allocation Fund?

Nippon India Multi Asset Allocation Fund's largest holdings are iShares MSCI World ETF (4.6%), ICICI Bank Limited (3.8%), HDFC Bank Limited (3.0%), Axis Bank Limited (2.2%) and State Bank of India (1.9%). Holdings are disclosed monthly and change over time.

How risky is Nippon India Multi Asset Allocation Fund?

Nippon India Multi Asset Allocation Fund is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 10.0% and its worst peak-to-trough fall in our sample was -10.8%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What does the Sharpe ratio of 1.15 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Nippon India Multi Asset Allocation Fund's 1.15 means it has rewarded its volatility with excess return. Higher is better.

Who manages Nippon India Multi Asset Allocation Fund?

Nippon India Multi Asset Allocation Fund is managed by Vinay Sharma, Vikram Dhawan, Sushil Budhia, Kinjal Desai and Amber Singhania at Nippon India.

How is Nippon India Multi Asset Allocation Fund taxed?

Nippon India Multi Asset Allocation Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.