Top Multi Asset Mutual Funds (2026)
Ranked by 3 year return, Direct plans, as on the latest NAV · AUM as on 30-09-2026
There are 37 Multi Asset mutual funds. Their average 3 year return is 14.2% a year, and +2.0% over the last year. The highest 3 year returns: Quant Multi Asset Allocation Fund 21.6%, Nippon India Multi Asset Allocation Fund 18.0%, DSP Multi Asset Allocation Fund 17.3%.
- Total AUM
- ₹2,23,804 Cr
- As on 30-09-2026
- Funds
- 37
- From 37 fund houses
- Expense ratio
- 0.44% to 2.30%
- Direct plans, lowest to highest
- Average 3Y return
- 14.2%
- A year, Direct plans
All Multi Asset Funds
Ranked by 3 year return, highest first
Ranked by 3 year return, highest first
| Exit load | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Quant Multi Asset Allocation Fund | 1 | 6,608 | +8.36% | +21.56% | +18.33% | +18.26% | High | 1.13% | 1% within 15 days | 11.32% |
| Nippon India Multi Asset Allocation Fund | 2 | 18,044 | +3.05% | +17.96% | +13.83% | -- | -- | 0.48% | -- | 10.00% |
| DSP Multi Asset Allocation Fund | 3 | 10,820 | +4.15% | +17.30% | -- | -- | High | 0.62% | 1% within 1 month | 8.55% |
| Kotak Multi Asset Allocation Fund | 4 | 15,236 | +4.34% | +16.23% | -- | -- | Very High | 0.63% | 1% within 1 year | 12.23% |
| WhiteOak Capital Multi Asset Allocation Fund | 5 | 9,111 | +6.03% | +16.11% | -- | -- | High | 0.65% | None | 5.74% |
| Aditya Birla Sun Life Multi Asset Allocation Fund | 6 | 7,478 | +4.15% | +15.35% | -- | -- | Very High | 0.67% | 1% within 1 year | 10.46% |
| SBI Multi Asset Allocation Fund | 7 | 21,044 | +2.50% | +13.91% | +12.53% | +11.56% | Very High | 0.66% | 1% within 12 months | 7.94% |
| UTI Multi Asset Allocation Fund | 8 | 6,634 | −2.35% | +13.70% | +12.29% | +10.69% | Very High | 0.89% | 1% within 30 days | 9.63% |
| Axis Multi Asset Allocation Fund | 9 | 2,616 | +2.01% | +13.55% | +8.22% | +11.23% | Very High | 1.20% | 1% within 12 months | 10.70% |
| Baroda BNP Paribas Multi Asset Fund | 10 | 1,398 | −0.27% | +13.33% | -- | -- | -- | 0.89% | -- | 10.85% |
| ICICI Prudential Multi Asset Allocation Fund | 11 | 84,108 | −3.66% | +12.92% | +13.95% | +14.80% | -- | 0.85% | 1% within 365 days | 8.29% |
| Tata Multi Asset Allocation Fund | 12 | 5,000 | −1.92% | +12.24% | +11.14% | -- | Very High | 0.65% | 0.5% within 30 days | 9.21% |
| HDFC Multi Asset Allocation Fund | 13 | 5,782 | −2.29% | +11.12% | +10.21% | +10.99% | Very High | 1.01% | 1% within 12 months | 7.64% |
| Shriram Multi Asset Allocation Fund | 14 | 140 | +0.01% | +10.13% | -- | -- | Very High | 0.62% | 1% within 90 days | 11.90% |
| Edelweiss Multi Asset Allocation Fund | 15 | 2,961 | +6.25% | +7.53% | -- | -- | Low | 0.79% | 0.25% within 90 days | 1.95% |
| Bandhan Multi Asset Allocation Fund | -- | 3,745 | +5.01% | -- | -- | -- | Very High | 0.84% | 0.5% within 30 days | -- |
| Mirae Asset Multi Asset Allocation Fund | -- | 3,607 | +4.13% | -- | -- | -- | Very High | 0.65% | 1% within 6 months | -- |
| Sundaram Multi Asset Allocation Fund | -- | 3,205 | −2.75% | -- | -- | -- | Very High | 0.79% | 1% within 365 days | -- |
| HSBC Multi Asset Allocation Fund | -- | 3,141 | +4.70% | -- | -- | -- | Very High | 0.96% | 1% within 1 year | -- |
| Franklin India Multi Asset Allocation Fund | -- | 2,767 | +0.65% | -- | -- | -- | -- | 0.55% | 0.5% within 1 year | -- |
| Bajaj Finserv Multi Asset Allocation Fund | -- | 1,913 | +0.14% | -- | -- | -- | Very High | 0.73% | 1% within 3 months | -- |
| Canara Robeco Multi Asset Allocation Fund | -- | 1,369 | +2.80% | -- | -- | -- | Very High | 0.98% | 1% within 365 days | -- |
| Mahindra Manulife Multi Asset Allocation Fund | -- | 1,214 | +4.23% | -- | -- | -- | Very High | 0.58% | 0.5% within 3 months | -- |
| Invesco India Multi Asset Allocation Fund | -- | 1,213 | +5.24% | -- | -- | -- | Very High | 0.54% | 1% within 1 year | -- |
| Union Multi Asset Allocation Fund | -- | 989 | +2.50% | -- | -- | -- | Very High | 1.31% | 1% within 15 days | -- |
| LIC MF Multi Asset Allocation Fund | -- | 966 | −3.26% | -- | -- | -- | Very High | 1.10% | 1% within 3 months | -- |
| 360 ONE Multi Asset Allocation Fund | -- | 521 | +7.77% | -- | -- | -- | High | 0.68% | 1% within 12 months | -- |
| Samco Multi Asset Allocation Fund | -- | 380 | +0.84% | -- | -- | -- | Very High | 2.30% | 1% within 12 months | -- |
| Groww Multi Asset Allocation Fund | -- | 373 | −0.80% | -- | -- | -- | Very High | 1.01% | 1% within 30 days | -- |
| Bank of India Multi Asset Allocation Fund | -- | 369 | +3.36% | -- | -- | -- | High | 1.03% | 1% within 3 months | -- |
| PGIM India Multi Asset Allocation Fund | -- | 324 | -- | -- | -- | -- | Very High | 0.85% | 0.5% within 90 days | -- |
| The Wealth Company Multi Asset Allocation Fund | -- | 212 | -- | -- | -- | -- | Very High | 1.23% | 1% within 30 days | -- |
| JM Multi Asset Allocation Fund | -- | 167 | -- | -- | -- | -- | Very High | 1.05% | 1% within 60 days | -- |
| ITI Multi Asset Allocation Fund | -- | 144 | -- | -- | -- | -- | High | 1.92% | 0.5% within 3 months | -- |
| AlphaGrep Multi Asset Allocation Fund | -- | 116 | -- | -- | -- | -- | High | 1.38% | 1% within 15 days | -- |
| Quantum Multi Asset Allocation Fund | -- | 54 | −3.02% | -- | -- | -- | High | 0.44% | 1% within 90 days | -- |
| Capitalmind Multi Asset Allocation Fund | -- | 37 | -- | -- | -- | -- | Very High | 0.89% | 1% within 30 days | -- |
Returns of each fund's Direct plan (its only plan where it has one), as on the latest NAV. 3, 5 and 10 year figures are a rate a year. Std dev: how much the daily returns swung over 3 years, as a yearly figure; lower is steadier. Riskometer and exit load from the fund's scheme summary document; "Varies" means the load changes with how long you hold, and the fund page has the full wording. Expense ratio: Direct plan, from AMFI. AUM at the end of the fund's last reported month. A fund younger than 3 years has no rank and is listed after the ranked ones.
Stocks Multi Asset Funds Bought and Sold in September 2026
What the 5 largest Multi Asset funds changed in their September 2026 portfolios, against the month before
Bought
| Stock | New in | Added by |
|---|---|---|
| HDFC Bank Ltd.ICICI Prudential Multi Asset Allocation, Nippon India Multi Asset Allocation, Kotak Multi Asset Allocation | -- | 3 funds |
| National Stock Exchange of India Ltd.ICICI Prudential Multi Asset Allocation, DSP Multi Asset Allocation | 2 funds | -- |
| Godrej Consumer Products Ltd.ICICI Prudential Multi Asset Allocation, Nippon India Multi Asset Allocation | 2 funds | -- |
| HDFC Life Insurance Company LimitedNippon India Multi Asset Allocation, DSP Multi Asset Allocation | 1 fund | 1 fund |
| Bharti Airtel Ltd.ICICI Prudential Multi Asset Allocation, DSP Multi Asset Allocation | -- | 2 funds |
| HDFC Asset Management Company LimitedNippon India Multi Asset Allocation, DSP Multi Asset Allocation | -- | 2 funds |
| Mahindra & Mahindra Ltd.ICICI Prudential Multi Asset Allocation, DSP Multi Asset Allocation | -- | 2 funds |
| SBI Life Insurance Company Ltd.ICICI Prudential Multi Asset Allocation, DSP Multi Asset Allocation | -- | 2 funds |
| Ultratech Cement Ltd.ICICI Prudential Multi Asset Allocation, DSP Multi Asset Allocation | -- | 2 funds |
| Vedanta Aluminium Metal Ltd.ICICI Prudential Multi Asset Allocation, Nippon India Multi Asset Allocation | -- | 2 funds |
Sold
| Stock | Exited by | Reduced by |
|---|---|---|
| PVR INOX Ltd.ICICI Prudential Multi Asset Allocation, SBI Multi Asset Allocation, Kotak Multi Asset Allocation | -- | 3 funds |
| CYIENT DLM LTDICICI Prudential Multi Asset Allocation, Nippon India Multi Asset Allocation | 2 funds | -- |
| Infosys Ltd.ICICI Prudential Multi Asset Allocation, Kotak Multi Asset Allocation | 1 fund | 1 fund |
| Samvardhana Motherson International Ltd.ICICI Prudential Multi Asset Allocation, Nippon India Multi Asset Allocation | 1 fund | 1 fund |
| FSN E-Commerce Ventures Ltd.ICICI Prudential Multi Asset Allocation, Nippon India Multi Asset Allocation | -- | 2 funds |
| Pine Labs Ltd.SBI Multi Asset Allocation | 1 fund | -- |
| Grasim Industries Ltd.ICICI Prudential Multi Asset Allocation | 1 fund | -- |
| GAIL (India) Ltd.Kotak Multi Asset Allocation | 1 fund | -- |
| UPL Ltd.ICICI Prudential Multi Asset Allocation | 1 fund | -- |
| ICICI Prudential Asset Management Company LimitedNippon India Multi Asset Allocation | 1 fund | -- |
From each fund's own monthly portfolio, stocks only. "New in" means the fund did not hold the stock the month before; "Exited by" means it sold all of it. Added and reduced count shares held, so a price move alone is not a change. Funds counted: ICICI Prudential Multi Asset Allocation Fund, SBI Multi Asset Allocation Fund, Nippon India Multi Asset Allocation Fund, Kotak Multi Asset Allocation Fund, DSP Multi Asset Allocation Fund.
Compare Multi Asset Funds
The largest funds of the category, side by side
- ICICI Prudential Multi Asset Allocation vs SBI Multi Asset Allocation
- ICICI Prudential Multi Asset Allocation vs Nippon India Multi Asset Allocation
- ICICI Prudential Multi Asset Allocation vs Kotak Multi Asset Allocation
- SBI Multi Asset Allocation vs Nippon India Multi Asset Allocation
- SBI Multi Asset Allocation vs Kotak Multi Asset Allocation
- Nippon India Multi Asset Allocation vs Kotak Multi Asset Allocation
How Multi Asset Funds Are Taxed
It depends on what each fund holds
| What the fund holds | Tax on the gain |
|---|---|
| 65% or more in Indian stocks | 20% within 1 year. After that, 12.5% of gains above ₹1.25 lakh a financial year |
| 65% or more in debt | Your slab rate, however long you hold the units |
| Any other mix | Your slab rate within 2 years. 12.5% after |
- IDCW (dividend) payouts are added to your income and taxed at your slab rate.
- A stamp duty of 0.005% is deducted when you invest.
Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.
What Is a Multi Asset Fund?
At least 10% each in three or more kinds of assets, such as stocks, debt and gold. This is the rule SEBI sets for every fund in the category, so their portfolios can be compared.
Other hybrid categories: Aggressive Hybrid · Balanced Advantage · Equity Savings · Arbitrage · Conservative Hybrid
Multi Asset Funds: Frequently Asked Questions
Which are the top Multi Asset mutual funds?
By 3 year return, the top Multi Asset funds are 1. Quant Multi Asset Allocation Fund (21.6% a year), 2. Nippon India Multi Asset Allocation Fund (18.0% a year), 3. DSP Multi Asset Allocation Fund (17.3% a year), 4. Kotak Multi Asset Allocation Fund (16.2% a year), 5. WhiteOak Capital Multi Asset Allocation Fund (16.1% a year). Past returns do not promise future returns, so also look at costs, risk and how long each fund has done well.
How many Multi Asset funds are there?
37 Multi Asset funds are open for investment, from 37 fund houses.
What is a Multi Asset fund?
At least 10% each in three or more kinds of assets, such as stocks, debt and gold.
What is the average return of Multi Asset funds?
1 year: 2.0%, 3 years: 14.2% a year, 5 years: 12.6% a year. The simple average of every Multi Asset fund's Direct plan.
Which Multi Asset fund has the lowest expense ratio?
Quantum Multi Asset Allocation Fund, at 0.44% a year (Direct plan), as reported to AMFI.
Which is the largest Multi Asset fund?
ICICI Prudential Multi Asset Allocation Fund, with ₹84,108 Cr of investors' money on 30-09-2026.
How are Multi Asset funds taxed?
It depends on what each fund holds: 65% or more in Indian stocks is taxed as an equity fund, 65% or more in debt at your slab rate.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.