HybridMulti Asset AllocationRegularGrowthHigh

Bandhan Multi Asset Allocation Fund

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

As of 05 Oct 2026, the NAV of Bandhan Multi Asset Allocation Fund is ₹13.87 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Bandhan Multi Asset Allocation Fund delivered?

Bandhan Multi Asset Allocation Fund has returned +7.95% over 1 year and +12.97% 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 Bandhan Multi Asset Allocation Fund?

Bandhan Multi Asset Allocation Fund charges an expense ratio of 2.15% 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 Bandhan Multi Asset Allocation Fund?

Bandhan Multi Asset Allocation Fund's largest holdings are HDFC Bank Limited (4.2%), Reliance Industries Limited (3.8%), ICICI Bank Limited (3.0%), Kotak Mahindra Bank Limited (2.3%) and Axis Bank Limited (2.3%). Holdings are disclosed monthly and change over time.

Q: How risky is Bandhan Multi Asset Allocation Fund?

Bandhan Multi Asset Allocation Fund is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 9.2% and its worst peak-to-trough fall in our sample was -10.2%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What is the benchmark of Bandhan Multi Asset Allocation Fund?

Bandhan Multi Asset Allocation Fund is benchmarked against the 65% Nifty 500 TRI + 25% NIFTY Short Duration Debt Index + 5% Domestic prices of gold + 5% Domestic prices of silver. Its alpha and beta on this page are measured against that index.

Q: Who manages Bandhan Multi Asset Allocation Fund?

Bandhan Multi Asset Allocation Fund is managed by Viraj Kulkarni, Daylynn Pinto, Kapil Kankonkar, Gautam Kaul, Ritika Behera, Gaurav Satra and Brijesh Shah at Bandhan.

Q: How is Bandhan Multi Asset Allocation Fund taxed?

Bandhan 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.

Bandhan Mutual Fund · Best Multi Asset Allocation Mutual Funds

NAV

₹13.87

+0.50% 1D

as of 05 Oct 2026

This is the Regular plan of Bandhan Multi Asset Allocation Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.

Compare SIP calculator

Performance

+7.36%absolute

52-week rangePrev NAV ₹13.80

Latest ₹13.87

Low ₹12.8163rd percentile of its 52-week rangeHigh ₹14.51

Scorecard

★★★★☆4/5 vs 31 of 36 Multi Asset Allocation peers1Y

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). Based on a 1-year record — this fund is too young for a 3-year CAGR, so its performance is ranked on 1Y against the same peers. 31 of the 36 Multi Asset Allocation funds in this cohort carry the full record the stars need, so they are the ones ranked against.

Performance—

Not enough Multi Asset Allocation peers to rank yet

RiskModerate

Volatility 9.2% vs 9.9% category avg

CostAverage

2.1% expense vs 2.2% category avg

Consistency—

Not enough history for a rolling 3Y view

Strengths & concerns

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

Strengths

1-year return (+7.95%) beats the Multi Asset Allocation average (+4.36%)
Ranks #6 of 31 on 1-year return in its Multi Asset Allocation cohort

Concerns

No significant concerns identified.

Key Metrics

Annual fee charged by the fund, already deducted from NAV

2.15%

Category 2.18%▼0.03%

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

18.04

Category —

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

—

Category 0.73

Scheme Info

Definitions

Plan

Regular · Growth

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

None

For 10% of investment: Nil - For remaining investment: 0.5 % if redeemed/ switched out within 30 days from the date of allotment.

Up to 0.50%

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

₹1,000

65% Nifty 500 TRI + 25% NIFTY Short Duration Debt Index + 5% Domestic prices of gold + 5% Domestic prices of silver

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.

01 Feb 2024

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

Definitions

Absolute return over the last 1 month (not annualized)

-3.18%

Absolute return over the last 3 months (not annualized)

-2.36%

Absolute return over the last 6 months (not annualized)

+6.44%

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

+1.74%

Annualized returns (≥1Y — CAGR)

Definitions

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

+7.95%

3-year annualized return (CAGR)

—

5-year annualized return (CAGR)

—

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.

+12.97%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

9.19%

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

—

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

—

Largest peak-to-trough decline over full history

-10.21%

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

8.28%

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

0.60

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

77.2%

Excess return per unit of beta (market risk)

10.92

Active return over the benchmark per unit of tracking error

1.48

Annualized std dev of fund-minus-benchmark returns

7.19%

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

84.2%

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

24.2%

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	-3.18%	-3.49%	+0.31%
3M abs	-2.36%	-2.25%	-0.11%
6M abs	+6.44%	+3.76%	+2.68%
1Y CAGR	+7.95%	+4.36%	+3.59%
3Y CAGR	—	+13.19%	—
5Y CAGR	—	+11.72%	—

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

+7.95%

Beats 83.3% · rank #6

3Y return

—

5Y return

—

Sharpe

—

Sortino

—

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

₹1.20L

Current value

₹1.21L

Absolute

+0.77%

XIRR

+1.69%

Value vs. invested

ValueInvested

12 monthly installments of ₹10,000 into Bandhan 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	+1.74%	-12.85%	+14.59%
2025	+19.20%	+11.97%	+7.23%
2024part	+14.26%	—	—

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.

History points

668

Expense ratio

2.15%

AUM

₹3,306Cr

Exit load

For 10% of investment: Nil - For remaining investment: 0.5 % if redeemed/ switched out within 30 days from the date of allotment.

Portfolio, AUM & scheme details shown from another plan of this scheme (same underlying portfolio).

P/E ratio

18.0

P/B ratio

3.5

Avg market cap

₹3,87,509Cr

P/E & P/B are portfolio-weighted harmonic means across 103 of 126 equity holdings (60% 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


Bandhan Multi Asset Allocation FundThis fund Bandhan · Regular · Growth	★★★★☆ 1Y	+7.95%	—	—	—	2.15%	₹3,306Cr
Quant Multi Asset Allocation Fund quant · Regular · Growth	★★★☆☆	+11.87%	+20.86%	+17.03%	—	2.29%	₹5,474Cr
Nippon India Multi Asset Allocation Fund Nippon India · Regular · Growth	★★★★★	+6.63%	+16.71%	+13.46%	—	1.44%	₹15,069Cr
DSP Multi Asset Allocation Fund DSP · Regular · Growth	★★★★★	+7.28%	+15.92%	—	—	1.59%	₹9,515Cr
Kotak Multi Asset Allocation Fund Kotak Mahindra · Regular · Growth	★★★☆☆	+8.94%	+15.58%	—	—	1.77%	₹13,629Cr
WhiteOak Capital Multi Asset Allocation Fund WhiteOak Capital · Regular · Growth	★★★★★	+7.98%	+15.16%	—	—	1.67%	₹7,308Cr

Market-cap allocation · AMFI bands, Jul 2026

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

Large cap59.3%
Mid cap21.5%
Small cap19.2%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity66.32%
Cash & Equivalents25.24%
Debt6.27%
Other2.02%

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

HDFC Bank Limited

4.20%

Reliance Industries Limited

3.76%

ICICI Bank Limited

3.02%

Kotak Mahindra Bank Limited

2.33%

Axis Bank Limited

2.25%

Maruti Suzuki India Limited

2.10%

Bandhan Ultra Short to Short Term Fund-DR GR

2.02%

Bharti Airtel Limited

1.80%

Larsen & Toubro Limited

1.47%

Bajaj Finance Limited

1.32%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
Bandhan Flexi Cap Fund Bandhan · Flexi Cap Fund	67.8%	★★☆☆☆	1.52%	+9.66%
Bandhan Multi Cap Fund Bandhan · Multi Cap Fund	64.0%	★★★☆☆	0.95%	+11.63%
Bandhan Value Fund Bandhan · Value Fund	57.8%	★★★☆☆	0.95%	+9.61%
BANDHAN ELSS - Tax Saver Fund Bandhan · ELSS	57.2%	★★★☆☆	0.93%	+8.82%
HDFC Multi Asset Allocation Fund HDFC · Multi Asset Allocation	52.6% of 67% equity	★★★☆☆	0.99%	+11.32%
360 ONE MSCI India ETF 360 One · Other ETFs	52.5%	—	—	—
ICICI Prudential Large Cap Fund ICICI Prudential · Large Cap Fund	52.4%	★★★★★	1.01%	+9.67%
Parag Parikh Large Cap Fund PPFAS · Large Cap Fund	51.5%	—	0.32%	—

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)

3 holdings — 1.64% 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.

Sterlite Technologies LimitedLong-term · Stage IV0.83%
PB Fintech LimitedShort-term · Stage I0.60%
Whirlpool of India LimitedShort-term · Stage I0.21%

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.

-10.2%29 Jan 2026 → 23 Mar 2026
Fell over 2 months, back to the old high on 03 Aug 2026 — 4 months under water after the low.
-9.8%26 Sep 2024 → 07 Apr 2025
Fell over 6 months, back to the old high on 04 Jun 2025 — 2 months 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

₹3,306Cr

April - June 2026

+12%

since January - March 2026

+₹324.55Cr

est. net flow, last quarter

At or near its largest, ₹3,306Cr 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

Bandhan Mutual Fund is the former IDFC Mutual Fund, bought in 2022 by a consortium of Bandhan Financial Holdings, ChrysCapital and GIC and renamed the following year. It carries a long-established debt franchise alongside its equity and index schemes.

Launched

19 Dec 1999

Total AUM

₹2,04,046Cr+4.5% QoQ

Avg AUM · April - June 2026

Website

bandhanmutual.com

Fund Managers

VKViraj KulkarniManaging since 31 Jan 2024

Role

Vice President B.Tech. – Equity Fund Management

Education

CFA, (Finance), B.Tech. (Electronics) Fund

Experience

He is associated with Bandhan PGDM AMC since September 2015 and is the dedicated fund manager for foreign securities since Fund - Equity portion, March 2016. He also undertakes equity research. Prior experience: Franklin Templeton Asset Management (India) Pvt. Ltd. as Management Trainee (May 2014 – September 2015). Goldman Sachs Services India as an Analyst for Wealth Management Technology (June 2010 – May 2012). (Total experience - 12 years)

Funds managed (7)

All schemes Viraj Kulkarni runs →

DPDaylynn PintoManaging since 31 Jan 2024

Role

Senior Fund Manager – Equity

Education

PGDM, B.Com.

Experience

He is associated with Bandhan AMC since October 2016 and responsible for investments and equity fund management. He also undertakes equity research. Prior to joining Bandhan AMC, he was associated with UTI Asset Logistics Management Co. Ltd. as Fund Manager, responsible for fund management. He also undertook Equity research. (July 2006 September 2016). (Total experience – 19 years)

Funds managed (4)

All schemes Daylynn Pinto runs →

KKKapil KankonkarManaging since 16 Jun 2025

Role

Vice President Bachelor of - Equity

Education

Engineering, Master of Management Studies

Experience

Mr. Kapil Kankonkar joined the equity fund management team of Bandhan AMC Limited on June 09, 2025. In his current role, he will Bandhan Multi Asset Allocation be responsible for equity investment function for the schemes of Bandhan Mutual Fund. He has a total work experience of 19 years. Prior to this, he was associated with Kotak Securities Limited from February 20, 2023 to June 07, 2025 and with JM Financial Services Limited from June 06, 2007 to February 18, 2023, where he was responsible for fund management of Arbitrage Funds.

Funds managed (2)

All schemes Kapil Kankonkar runs →

GKGautam KaulManaging since 31 Jan 2024

Role

Senior Fund Manager - Fixed Income

Education

MBA, B.Com

Experience

Mr. Gautam Kaul joined the Fixed Income Fund Management team Bandhan AMC on November 24, 2021 Senior Fund Manager – Fixed Income. He was earlier associated Bandhan with Edelweiss Asset Management Company Ltd. as Fund Manager from December 2016 to CRISIL IBX Gilt June 2027 Index November 2021 and was managing various schemes of Edelweiss Mutual Fund. CRISIL IBX Gilt April 2032 Index Prior to this, he was also Fund, Bandhan CRISIL IBX 90:10 associated with IDBI Asset SDL Plus Gilt– November 2026 Management Company Ltd. as Fund Manager from March 2010 November 2016 and was managing various schemes of IDBI Mutual Fund. His prior associations also include Religare Asset Management Company Ltd., Sahara Asset Management Company Ltd. and Mata Securities India Private Ltd. (Total experience – 22 years)

Funds managed (15)

All schemes Gautam Kaul runs →

RBRitika BeheraManaging since 31 Jan 2024

Role

Vice President MBA -Equities

Education

(Finance), Bcom

Experience

Ms. Ritika Behera has joined Bandhan AMC Limited as Vice President – Equity Equities on August 10, 2023 in Equity Investments team. In her role she will be US Equity responsible for research and analysis. Prior to Bandhan AMC Limited, she was associated with Ocean Dial Asset Equity portion management from April 2021 to July 2023 as Analyst. Earlier to this, she was and all other schemes associated with Elara Securities Pvt having Limited from January 2017 to March 2021 and Batlivala & Karani Securities Pvt Ltd from August 2013 to January 2017. (Total experience – 14 years)

Funds managed (21)

All schemes Ritika Behera runs →

GSGaurav SatraManaging since 31 Jan 2024

Role

Deputy Manager – Accountant, Fund Management – Equity

Education

Chartered B.Com

Experience

Mr. Gaurav Satra joined the Bandhan US Equity Fund of Equity Fund Management Fund team of Bandhan AMC in having provision for investment June 2022 and was in overseas securities in equity co-managed designated as the Equity segment. Dealer.Prior to the same, he was associated with various Consultancy Firms as a CA from December 2016 to May 2022. (Total experience – 8.5 years)

Funds managed (21)

All schemes Gaurav Satra runs →

BSBrijesh ShahManaging since 31 Jan 2024

Role

Senior Vice President – Fixed Income

Education

Post Graduate Diploma in Finance

Experience

Mr Shah is associated with Bandhan AMC since August 2015 as part of the Fixed Income Team and will now be handling investments and fixed income Bandhan US Treasury Bond 0-1 year – fund management. Prior experience: · IDBI Asset Management Ltd. – Dealing in Fixed income (Jan.2013 to Aug.2015) · India Bulls Asset Management Ltd. – Dealing in Fixed income (Jun.2011 to Dec.2012) · Mata Securities - Relationship Manager, Wholesale Debt Market (Jun.2010 to Jun.2011) · Twenty First Century - Relationship Manager, Wholesale Debt Market (Jan.2009 to May2010) (Total experience – 15 years)

Funds managed (42)

All schemes Brijesh Shah 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

Viraj Kulkarni Daylynn Pinto Kapil Kankonkar Gautam Kaul Ritika Behera Gaurav Satra Brijesh Shah

Top holdings

HDFC Bank Limited Reliance Industries Limited ICICI Bank Limited Kotak Mahindra Bank Limited Axis Bank Limited Maruti Suzuki India Limited Bharti Airtel Limited Larsen & Toubro Limited Bajaj Finance Limited NMDC Limited Bajaj Finserv Limited Infosys Limited

Bandhan 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.

Run SIP calculator Add to compare

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 Bandhan Multi Asset Allocation Fund?

As of 05 Oct 2026, the NAV of Bandhan Multi Asset Allocation Fund is ₹13.87 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Bandhan Multi Asset Allocation Fund delivered?

Bandhan Multi Asset Allocation Fund has returned +7.95% over 1 year and +12.97% 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 Bandhan Multi Asset Allocation Fund?

Bandhan Multi Asset Allocation Fund charges an expense ratio of 2.15% 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 Bandhan Multi Asset Allocation Fund?

Bandhan Multi Asset Allocation Fund's largest holdings are HDFC Bank Limited (4.2%), Reliance Industries Limited (3.8%), ICICI Bank Limited (3.0%), Kotak Mahindra Bank Limited (2.3%) and Axis Bank Limited (2.3%). Holdings are disclosed monthly and change over time.

How risky is Bandhan Multi Asset Allocation Fund?

Bandhan Multi Asset Allocation Fund is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 9.2% and its worst peak-to-trough fall in our sample was -10.2%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What is the benchmark of Bandhan Multi Asset Allocation Fund?

Bandhan Multi Asset Allocation Fund is benchmarked against the 65% Nifty 500 TRI + 25% NIFTY Short Duration Debt Index + 5% Domestic prices of gold + 5% Domestic prices of silver. Its alpha and beta on this page are measured against that index.

Who manages Bandhan Multi Asset Allocation Fund?

Bandhan Multi Asset Allocation Fund is managed by Viraj Kulkarni, Daylynn Pinto, Kapil Kankonkar, Gautam Kaul, Ritika Behera, Gaurav Satra and Brijesh Shah at Bandhan.

How is Bandhan Multi Asset Allocation Fund taxed?

Bandhan 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.