Multi asset allocation funds in India
37 live funds in the Multi Asset Allocation category, ordered by 5-year return, highest first; quant Multi Asset Allocation Fund leads. Funds younger than five years follow by name. Returns are for the plan each fund's page leads with, Direct where the fund has one, to each fund's latest NAV, the newest of them on 28 Oct 2026; 3 and 5 year returns are a year, compounded.
- Category median, 1 yearCategory median, 1 year. The middle return among the Multi Asset Allocation category's funds, each over the same window to its own latest NAV, on their Direct plans.
- +2.27%Middle of 31 funds
- Category median, 3 yearsCategory median, 3 years. The middle return among the Multi Asset Allocation category's funds, each over the same window to its own latest NAV, on their Direct plans; a year, compounded.
- +13.47%Middle of 15 funds
- Category median, 5 yearsCategory median, 5 years. The middle return among the Multi Asset Allocation category's funds, each over the same window to its own latest NAV, on their Direct plans; a year, compounded.
- +12.07%Middle of 8 funds
Multi Asset Allocation funds
Size is the average money the fund managed over its latest quarter. Cost is its yearly expense ratio.Filter them in the screener
quant Multi Asset Allocation Fundquant Mutual FundNAV₹176.834627 Oct 20261Y+8.96%3Y+21.47%5Y+17.84%Size₹6,467 CrCost1.13%
Nippon India Multi Asset Allocation FundNippon India Mutual FundNAV₹25.719027 Oct 20261Y+3.13%3Y+17.79%5Y+13.48%Size₹17,454 CrCost0.48%
ICICI Prudential Multi Asset Allocation FundICICI Prudential Mutual FundNAV₹849.449027 Oct 20261Y−3.80%3Y+12.71%5Y+13.31%Size₹86,744 CrCost0.85%
SBI Multi Asset Allocation FundSBI Mutual FundNAV₹71.354327 Oct 20261Y+2.27%3Y+13.63%5Y+12.22%Size₹20,580 CrCost0.68%
UTI Multi Asset Allocation FundUTI Mutual FundNAV₹83.642827 Oct 20261Y−3.40%3Y+13.47%5Y+11.93%Size₹6,968 CrCost0.89%
Tata Multi Asset Allocation FundTata Mutual FundNAV₹26.638827 Oct 20261Y−2.09%3Y+12.01%5Y+10.68%Size₹5,219 CrCost0.65%
HDFC Multi Asset Allocation FundHDFC Mutual FundNAV₹81.199027 Oct 20261Y−2.79%3Y+10.99%5Y+9.82%Size₹5,968 CrCost1.01%
Axis Multi Asset Allocation FundAxis Mutual FundNAV₹50.467727 Oct 20261Y+1.40%3Y+13.20%5Y+7.73%Size₹2,553 CrCost1.20%
360 ONE Multi Asset Allocation Fund360 One Mutual FundNAV₹11.822827 Oct 20261Y+7.62%3Y–5Y–Size₹500 CrCost0.68%
Aditya Birla Sun Life Multi Asset Allocation FundAditya Birla Sun Life Mutual FundNAV₹16.96161Y+4.61%3Y+15.21%5Y–Size₹7,410 CrCost0.67%
AlphaGrep Multi Asset Allocation FundAlphaGrep Mutual FundNAV₹10.085927 Oct 20261Y–3Y–5Y–Size₹59 CrCost1.38%
Bajaj Finserv Multi Asset Allocation FundBajaj Finserv Mutual FundNAV₹12.035127 Oct 20261Y+0.46%3Y–5Y–Size₹1,950 CrCost0.73%
Bandhan Multi Asset Allocation FundBandhan Mutual FundNAV₹14.113327 Oct 20261Y+5.20%3Y–5Y–Size₹3,670 CrCost0.84%
Bank of India Multi Asset Allocation FundBank of India Mutual FundNAV₹12.452127 Oct 20261Y+3.58%3Y–5Y–Size₹372 CrCost1.03%
Baroda BNP Paribas Multi Asset FundBaroda BNP Paribas Mutual FundNAV₹16.069227 Oct 20261Y−0.91%3Y+13.36%5Y–Size₹1,464 CrCost0.89%
Canara Robeco Multi Asset Allocation FundCanara Robeco Mutual FundNAV₹10.980027 Oct 20261Y+2.43%3Y–5Y–Size₹1,378 CrCost0.97%
Capitalmind Multi Asset Allocation FundCapitalmind Mutual FundNAV₹9.567227 Oct 20261Y–3Y–5Y–Size₹39 CrCost0.89%
DSP Multi Asset Allocation FundDSP Mutual FundNAV₹15.968427 Oct 20261Y+3.99%3Y+17.09%5Y–Size₹10,742 CrCost0.62%
Edelweiss Multi Asset Allocation FundEdelweiss Mutual FundNAV₹12.705027 Oct 20261Y+6.14%3Y+7.48%5Y–Size₹2,931 CrCost0.79%
Franklin India Multi Asset Allocation FundFranklin Templeton Mutual FundNAV₹10.492127 Oct 20261Y−0.10%3Y–5Y–Size₹2,884 CrCost0.55%
Groww Multi Asset Allocation FundGroww Mutual FundNAV₹9.921527 Oct 20261Y−1.74%3Y–5Y–Size₹387 CrCost1.01%
HSBC Multi Asset Allocation FundHSBC Mutual FundNAV₹13.690027 Oct 20261Y+3.93%3Y–5Y–Size₹3,161 CrCost0.96%
Invesco India Multi Asset Allocation FundInvesco Mutual FundNAV–1Y+4.46%3Y–5Y–Size₹1,202 CrCost0.54%
ITI Multi Asset Allocation FundITI Mutual FundNAV₹9.553327 Oct 20261Y–3Y–5Y–Size₹37 CrCost1.92%
JM Multi Asset Allocation FundJM Financial Mutual FundNAV₹9.722327 Oct 20261Y–3Y–5Y–Size₹134 CrCost1.04%
Kotak Multi Asset Allocation FundKotak Mahindra Mutual FundNAV₹15.462027 Oct 20261Y+3.46%3Y+15.75%5Y–Size₹15,048 CrCost0.63%
LIC MF Multi Asset Allocation FundLIC Mutual FundNAV₹11.762327 Oct 20261Y−3.03%3Y–5Y–Size₹987 CrCost1.10%
Mahindra Manulife Multi Asset allocation FundMahindra Manulife Mutual FundNAV₹13.87911Y+4.38%3Y–5Y–Size₹1,210 CrCost0.58%
Mirae Asset Multi Asset Allocation FundMirae Asset Mutual FundNAV₹13.600027 Oct 20261Y+3.75%3Y–5Y–Size₹3,622 CrCost0.64%
PGIM India Multi Asset Allocation FundPGIM India Mutual FundNAV₹10.100027 Oct 20261Y–3Y–5Y–Size₹305 CrCost0.85%
Quantum Multi Asset Allocation FundQuantum Mutual FundNAV₹11.860027 Oct 20261Y−3.73%3Y–5Y–Size₹58 CrCost0.44%
Samco Multi Asset Allocation FundSamco Mutual FundNAV₹11.940027 Oct 20261Y−0.75%3Y–5Y–Size₹397 CrCost2.30%
Shriram Multi Asset Allocation FundShriram Mutual FundNAV₹13.244927 Oct 20261Y−0.32%3Y+10.01%5Y–Size₹144 CrCost0.62%
Sundaram Multi Asset Allocation FundSundaram Mutual FundNAV₹12.910227 Oct 20261Y−3.85%3Y–5Y–Size₹3,338 CrCost0.79%
The Wealth Company Multi Asset Allocation FundThe Wealth Company Mutual FundNAV₹10.404327 Oct 20261Y–3Y–5Y–Size₹202 CrCost1.23%
Union Multi Asset Allocation FundUnion Mutual FundNAV₹11.860027 Oct 20261Y+2.07%3Y–5Y–Size₹1,004 CrCost1.31%
WhiteOak Capital Multi Asset Allocation FundWhiteOak Capital Mutual FundNAV₹16.278027 Oct 20261Y+5.96%3Y+16.03%5Y–Size₹8,527 CrCost0.66%
Tax on multi asset allocation funds
Tax depends on the fund's own mix. With 65% or more in shares of listed Indian companies, gains on units held over 12 months are taxed at 12.5% above ₹1.25 lakh a year, and gains on units held 12 months or less at 20%; with more than 65% in debt and money market instruments, gains on units bought on or after 1 Apr 2023 are taxed at the income tax slab rate however long they are held, and on units bought earlier at 12.5% after 24 months; otherwise, gains on units held over 24 months are taxed at 12.5%, and gains on units held 24 months or less at the income tax slab rate.
Rules in force from 1 Apr 2025, checked 27 Oct 2026. Surcharge and cess are not included.
About multi asset allocation funds in India
Multi asset allocation funds in India are open-ended mutual funds that invest in at least three asset classes, with a minimum of 10% of assets in each. An asset class is a type of investment, such as shares, bonds or gold. SEBI sets the category, and the usual mix is equity, debt and gold.
What SEBI requires
SEBI's categorisation circular of 26 Feb 2026 describes the category as a scheme that invests in at least three asset classes, with at least 10% of assets in each of the three. Beyond the 10% floor there is no fixed split, so the fund house sets the weights.
The same circular says a scheme's name must match its category, and that foreign securities are not counted as a separate asset class. Overseas shares therefore cannot serve as one of the three classes.
Asset classes in the mix
Most funds in the category combine Indian shares, bonds and gold. Many also hold silver, and some add real estate investment trusts (REITs) and infrastructure investment trusts (InvITs), which pass rental or toll income to unit holders. Gold and silver are usually held through exchange traded funds.
Taxation
Tax depends on the fund's equity share, not on its category. A fund that holds at least 65% in listed Indian equity is taxed as an equity fund. The 65% is measured as an average over the year, not on every day. For equity funds, gains on units held 12 months or less are taxed at 20%. Gains on units held longer are taxed at 12.5% above ₹1.25 lakh in a year.
A fund that stays below 65% falls under the rules for other funds, which turn on its debt share and holding period. The scheme document states each fund's position.
Difference from neighbouring categories
Balanced advantage (dynamic asset allocation) funds move between equity and debt only. Aggressive hybrid funds hold 65% to 80% in equity and 20% to 35% in debt. A multi asset allocation fund is the hybrid category that must include a third asset class beside equity and debt.
Because each fund sets its own weights, two funds in the category can hold very different amounts of equity, so their returns and tax treatment can differ.
What this page shows
The page lists every live fund in the category, ordered by 5-year return, highest first. Funds younger than five years follow, sorted by name. Returns are for the plan each fund's page leads with, the Direct plan where the fund has one, to its latest NAV. The 3-year and 5-year returns are yearly rates, compounded.
Size is the average money the fund managed over its latest quarter. Cost is the yearly expense ratio, the fee deducted from the fund's assets. The category medians are the middle Direct plan returns over each window.