HybridMulti Asset AllocationRegularIDCWHigh

JM Multi Asset Allocation Fund

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

As of 05 Oct 2026, the NAV of JM Multi Asset Allocation Fund is ₹10.00 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

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

JM Multi Asset Allocation Fund has returned +0.20% 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 JM Multi Asset Allocation Fund?

JM Multi Asset Allocation Fund charges an expense ratio of 2.73% 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 JM Multi Asset Allocation Fund?

JM Multi Asset Allocation Fund's largest holdings are Tata Mutual Fund- Gold ETF (7.5%), DSP Mutual Fund- Gold ETF (4.8%), Manipal Health Enterprises Limited (4.1%), 8.75% Piramal Finance Ltd 29-OCT-2027 (3.1%) and 6.94% GOI 11-May-2036 (3.1%). Holdings are disclosed monthly and change over time.

Q: How risky is JM Multi Asset Allocation Fund?

JM Multi Asset Allocation Fund is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 8.9% and its worst peak-to-trough fall in our sample was -5.2%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: Who manages JM Multi Asset Allocation Fund?

JM Multi Asset Allocation Fund is managed by Asit Bhandarkar, Deepak Gupta, Killol Pandya and Satish Ramanathan at JM Financial.

Q: How is JM Multi Asset Allocation Fund taxed?

JM 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.

JM Financial Mutual Fund · Best Multi Asset Allocation Mutual Funds

NAV

₹10.00

+0.49% 1D

as of 05 Oct 2026

This is the Regular plan of JM Multi Asset Allocation Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is distributed, which is why this NAV sits below the growth plan of the same fund.

Compare SIP calculator

This is the IDCW (dividend) option — it pays its earnings out as dividends rather than reinvesting them, so every payout steps the NAV down and the return figures below leave those payouts out. Your actual return was higher by whatever was distributed. That’s expected for a payout plan, not missing data.

View the Growth plan for compounded returns

Performance

+0.20%absolute

52-week rangePrev NAV ₹9.95

Latest ₹10.00

Low ₹9.8819th percentile of its 52-week rangeHigh ₹10.50

Key Metrics

Annual fee charged by the fund, already deducted from NAV

2.73%

Category —

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

37.21

Category —

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

—

Category —

Scheme Info

Definitions

Plan

Regular · IDCW

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

None

In respect of each purchase/ switch-in of Units, an Exit Load of 1.00% is payable if Units are redeemed/ switched-out within 60 days from the date of allotment. No Exit Load is payable if Units are redeemed / switched-out after 60 days from the date of allotment.

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

₹1,000

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.

20 Jul 2026

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

Definitions

Absolute return over the last 1 month (not annualized)

-2.82%

Absolute return over the last 3 months (not annualized)

+0.20%

Absolute return over the last 6 months (not annualized)

—

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

+0.20%

Annualized returns (≥1Y — CAGR)

Definitions

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

—

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.

+0.20%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

8.92%

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

-5.22%

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

—

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

—

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

—

Excess return per unit of beta (market risk)

—

Active return over the benchmark per unit of tracking error

—

Annualized std dev of fund-minus-benchmark returns

—

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

—

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

—

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	-2.82%	—	—
3M abs	+0.20%	—	—
6M abs	—	—	—
1Y CAGR	—	—	—
3Y CAGR	—	—	—
5Y CAGR	—	—	—

Category average across peers in Multi Asset Allocation, 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.

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

₹20.00K

Current value

₹19.72K

Absolute

-1.41%

XIRR

-28.61%

Value vs. invested

ValueInvested

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

Recent changes

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

Expense ratio down: 3.02% → 2.73%
02 Oct 2026

History points

Expense ratio

2.73%

Exit load

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

P/E ratio

37.2

P/B ratio

6.3

Avg market cap

₹1,77,670Cr

P/E & P/B are portfolio-weighted harmonic means across 26 of 34 equity holdings (39% 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


JM Multi Asset Allocation FundThis fund JM Financial · Regular · IDCW	—	—	—	—	—	2.73%	—
Quant Multi Asset Allocation Fund quant · Regular · IDCW	—	+11.87%	+20.82%	+17.00%	—	2.29%	₹5,474Cr
Nippon India Multi Asset Allocation Fund Nippon India · Regular · IDCW	—	+0.73%	+14.52%	+12.18%	—	1.44%	₹15,069Cr
Kotak Multi Asset Allocation Fund Kotak Mahindra · Regular · IDCW	—	+2.53%	+13.26%	—	—	1.77%	₹13,629Cr
SBI Multi Asset Allocation Fund SBI · Regular · IDCW	—	+6.37%	+13.20%	+11.86%	—	1.41%	₹17,976Cr
SBI Multi Asset Allocation Fund SBI · Regular · IDCW	—	+6.37%	+13.19%	+11.85%	—	1.41%	₹17,976Cr

Market-cap allocation · AMFI bands, Jul 2026

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

Large cap39.6%
Mid cap30.1%
Small cap30.3%

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity53.00%
Debt40.71%
Cash & Equivalents4.58%
Real Estate / REITs1.71%

which companies this fund invests in

As on 31 Aug 2026 · AMC disclosure

Tata Mutual Fund- Gold ETF

7.52%

DSP Mutual Fund- Gold ETF

4.78%

Manipal Health Enterprises Limited

4.06%

182 Days Treasury Bill 14-Jan-2027

3.08%

Axis Bank Limited 16-DEC-2026

3.08%

Ujjivan Small Finance Bank Limited

2.53%

Coforge Limited

2.42%

One 97 Communications Limited

2.23%

Larsen & Toubro Limited

2.14%

Bajaj Finance Limited

2.13%

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

Compare the top 3 →

Fund	Overlap	Rating	TER	3Y
JM Focused Fund JM Financial · Focused Fund	75.9%	★★☆☆☆	1.25%	+11.35%
JM Large Cap Fund JM Financial · Large Cap Fund	31.7%	★★☆☆☆	1.19%	+9.54%
Helios Large & Mid Cap Fund Helios · Large & Mid Cap Fund	31.7%	★★★★☆	1.00%	—
JM Aggressive Hybrid Fund JM Financial · Aggressive Hybrid Fund	29.9% of 78% equity	★★★☆☆	1.16%	+11.93%
JM Flexi Cap Fund JM Financial · Flexi Cap Fund	29.2%	★★★☆☆	1.07%	+13.74%
TRUSTMF Flexi Cap Fund Trust · Flexi Cap Fund	29.1%	★★★★☆	1.74%	—
Helios Flexi Cap Fund Helios · Flexi Cap Fund	29.0%	★★★☆☆	0.86%	—
LIC MF Large Cap Fund LIC · Large Cap Fund	28.7%	★☆☆☆☆	1.37%	+7.26%

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)

1 holding — 0.63% 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.

Tatva Chintan Pharma Chem LimitedLong-term · Stage I0.63%

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.

-5.2%26 Aug 2026 → 01 Oct 2026
Still below that high — 36 days down, and no recovery yet.

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.

AMC Profile

JM Financial Mutual Fund is the asset management arm of the JM Financial group and is one of India's oldest private fund houses, launched in 1994 when the industry first opened to private managers.

Launched

14 Sep 1994

Total AUM

₹13,205Cr-0.1% QoQ

Avg AUM · April - June 2026

Website

jmfinancialmf.com

Fund Managers

ABAsit BhandarkarManaging since 15 Jul 2026

Role

Senior Fund Manager - Equity

Education

B.Com., MMS B-Tech, MBA

Experience

He has 23 years of experience in equity research and fund management. His last assignment was as Fund Manager with Lotus India Asset Management Company Pvt. Ltd. Prior to that, for more than 2 years, he was with SBI Funds Management Pvt. Ltd. As a Junior Fund Manager. He started his career on the broking side as an equity analyst and has worked with firms like Jet Age Securities and Sushil Finance Consultants for almost 2 years. Mr. Ramanathan brings with him rich and

Funds managed (9)

All schemes Asit Bhandarkar runs →

DGDeepak GuptaManaging since 15 Jul 2026

Role

Head of Research & Senior Fund Manager Equity

Education

Chartered Accountant and Masters of Commerce from Mumbai University

Experience

Mr. Gupta is a Chartered Account. Prior to Fund Manager: joining the AMC, he was associated with SBI Pension Funds Private Limited, Reliance Nippon Life Insurance and Access Asset Managers Private Limited.

Funds managed (10)

All schemes Deepak Gupta runs →

KPKillol PandyaManaging since 15 Jul 2026

Role

Head of Fixed Income

Education

B.Com, MMS (Finance)

Experience

Mr. Killol Pandya has more than 17 years of experience in the asset management industry. Before joining JM Financial Asset Management Limited, he was associated with Barclays Securities India Private Limited, Essel Mutual Fund and LIC Nomura Mutual Fund as a Debt Fund Manager.

Funds managed (5)

All schemes Killol Pandya runs →

SRSatish RamanathanManaging since 15 Jul 2026

Role

Chief Investment Officer- Equity

Total experience

32 years

Education

CFA

Experience

Mr. Ramanathan brings with him rich and varied experience of around 3 decades and joins the AMC from Tattva Capital which was his entrepreneurial endeavor. He started his career with TATA Economic Consultancy Services in 1992 and has subsequently worked with ICICI Securities, Franklin Templeton AMC and Sundaram AMC. research and fund management. His last assignment was as Fund Manager with Lotus India Asset Management Company Pvt. Ltd. Prior to that, for more than 2 years, he was with SBI Funds Management Pvt. Ltd. As a Junior Fund Manager. He started his career on the broking side as an equity analyst and has worked with firms like Jet Age Securities and Sushil Finance Consultants for almost

Funds managed (10)

All schemes Satish Ramanathan runs →

Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. 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

Asit Bhandarkar Deepak Gupta Killol Pandya Satish Ramanathan

Top holdings

Manipal Health Enterprises Limited Ujjivan Small Finance Bank Limited Coforge Limited One 97 Communications Limited Larsen & Toubro Limited Bajaj Finance Limited IDFC First Bank Limited HDFC Bank Limited Amber Enterprises India Limited Eicher Motors Limited Eternal Limited Titan Company Limited

JM Financial 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 JM Multi Asset Allocation Fund?

As of 05 Oct 2026, the NAV of JM Multi Asset Allocation Fund is ₹10.00 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has JM Multi Asset Allocation Fund delivered?

JM Multi Asset Allocation Fund has returned +0.20% 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 JM Multi Asset Allocation Fund?

JM Multi Asset Allocation Fund charges an expense ratio of 2.73% 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 JM Multi Asset Allocation Fund?

JM Multi Asset Allocation Fund's largest holdings are Tata Mutual Fund- Gold ETF (7.5%), DSP Mutual Fund- Gold ETF (4.8%), Manipal Health Enterprises Limited (4.1%), 8.75% Piramal Finance Ltd 29-OCT-2027 (3.1%) and 6.94% GOI 11-May-2036 (3.1%). Holdings are disclosed monthly and change over time.

How risky is JM Multi Asset Allocation Fund?

JM Multi Asset Allocation Fund is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 8.9% and its worst peak-to-trough fall in our sample was -5.2%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Who manages JM Multi Asset Allocation Fund?

JM Multi Asset Allocation Fund is managed by Asit Bhandarkar, Deepak Gupta, Killol Pandya and Satish Ramanathan at JM Financial.

How is JM Multi Asset Allocation Fund taxed?

JM 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.