What are the top performing Multi Asset Allocation funds?

Based on 1-year returns, the top performing Multi Asset Allocation funds are Kotak Multi Asset Allocation Fund - Direct Plan with 25.10% return, DSP Multi Asset Allocation Fund - Direct Plan with 21.26% return, and Quant Multi Asset Allocation Fund - Direct Plan with 20.63% return. The category average 1-year return is 11.56%.

Which Multi Asset Allocation funds have given the best returns over 3 years?

Over a 3-year period, the best performing Multi Asset Allocation funds are Kotak Multi Asset Allocation Fund - Direct Plan with a 25.49% CAGR, DSP Multi Asset Allocation Fund - Direct Plan with 21.32% CAGR, and Quant Multi Asset Allocation Fund - Direct Plan with 19.51% CAGR. The category average 3-year return stands at 17.56% CAGR.

Which Multi Asset Allocation funds have given the best returns over 5 years?

Over a 5-year period, the top Multi Asset Allocation funds are Kotak Multi Asset Allocation Fund - Direct Plan with a 21.52% CAGR, DSP Multi Asset Allocation Fund - Direct Plan with 18.27% CAGR, and Quant Multi Asset Allocation Fund - Direct Plan with 17.15% CAGR. The category average 5-year return is 14.99% CAGR.

Which are the best Multi Asset Allocation funds for SIP investment?

Based on average 5-year rolling returns, the best Multi Asset Allocation funds for SIP are Quant Multi Asset Allocation Fund - Direct Plan with 5-year average rolling return of 17.98%, ICICI Prudential Multi Asset Fund - Direct Plan with 16.48%, and Kotak Multi Asset Omni FoF - Direct Plan with 16.17%. You can start a SIP in Multi Asset Allocation funds with as little as ₹99 per month.

What are the largest Multi Asset Allocation mutual funds by assets?

The largest Multi Asset Allocation funds by Assets Under Management (AUM) are ICICI Prudential Multi Asset Fund - Direct Plan with ₹ 83,547.40 crore, SBI Multi Asset Allocation Fund - Direct Plan with ₹ 17,666.00 crore, and Nippon India Multi Asset Allocation Fund - Direct Plan with ₹ 14,737.60 crore. Together, there are 52 Multi Asset Allocation funds available in India.

What is the minimum amount to invest in Multi Asset Allocation funds?

You can start investing in Multi Asset Allocation funds with a minimum SIP of ₹99 per month or a minimum lumpsum of ₹100. The minimum investment varies across fund houses — some funds allow even lower entry points.

How are Multi Asset Allocation fund returns taxed?

Gains from Multi Asset Allocation funds held for less than 12 months are taxed at 20% (Short-Term Capital Gains). Gains on units held for 12 months or more are taxed at 12.5% (Long-Term Capital Gains), with ₹1.25 lakh per year being exempt per financial year. Dividends (IDCW) are taxed at your applicable income tax slab rate.

Which Multi Asset Allocation funds have the lowest expense ratio?

Among Multi Asset Allocation funds, Axis Multi-Asset Active FoF - Direct Plan has the lowest expense ratio at 0.02% (Direct Plan), followed by Bandhan Multi-Asset Passive FoF - Direct Plan at 0.07%. Lower expense ratios directly improve your net returns over the long term.

How many Multi Asset Allocation mutual funds are available in India?

There are currently 52 Multi Asset Allocation mutual funds available in India across different fund houses. You can compare all 52 funds on Sharpely based on returns, risk, AUM, and expense ratio to find the one that suits your investment goals.

mutual funds category

Multi Asset Allocation

Multi Asset Allocation Funds

Multi-asset allocation funds invest in at least three different categories (generally equity, debt, and commodity). According to the SEBI, these funds must invest a minimum of 10% in each asset class.

Total Schemes

No. of schemes

Total AUM

₹ 2.23Lakh Cr

As on latest

Category Return (5Y)

14.99 %

CAGR

Benchmark Data

This category currently has no benchmark assigned.

Category Returns (%)

Period	1M	6M	1Y	3Y CAGR	5Y CAGR	10Y CAGR	YTD
Multi Asset Allocation	0.16 %	1.43 %	11.56 %	17.56 %	14.99 %	11.94 %	0.51 %
Benchmark Not Available No benchmark assigned	-	-	-	-	-	-	-

Top Multi Asset Allocation Funds (by AUM)

Fund Name	AUM (₹ Cr)	1Y Return	3Y CAGR	5Y CAGR	Expense Ratio
ICICI Prudential Multi Asset Fund - Direct PlanNAV: ₹883.86	83,547.40 Cr	7.58%	17.70%	18.27%	0.61%
SBI Multi Asset Allocation Fund - Direct PlanNAV: ₹73.87	17,666.00 Cr	14.79%	18.01%	14.55%	0.61%
Nippon India Multi Asset Allocation Fund - Direct PlanNAV: ₹26.45	14,737.60 Cr	17.25%	21.32%	17.15%	0.92%
Kotak Multi Asset Allocation Fund - Direct PlanNAV: ₹16.45	13,447.40 Cr	25.10%	-	-	0.52%
DSP Multi Asset Allocation Fund - Direct PlanNAV: ₹16.69	9,241.13 Cr	21.26%	-	-	0.45%
WhiteOak Capital Multi Asset Allocation Fund - Direct PlanNAV: ₹16.11	7,118.26 Cr	12.99%	16.96%	-	0.39%
UTI Multi Asset Allocation Fund - Direct PlanNAV: ₹86.43	6,864.59 Cr	6.98%	17.72%	14.47%	0.57%
Aditya Birla Sun Life Multi Asset Allocation Fund - Direct PlanNAV: ₹17.24	6,530.45 Cr	14.88%	17.48%	-	0.60%
HDFC Multi-Asset Allocation Fund - Direct PlanNAV: ₹82.41	5,887.05 Cr	5.01%	13.46%	12.31%	0.85%
HDFC Multi-Asset Active FoF - Direct PlanNAV: ₹20.03	5,780.50 Cr	6.03%	14.87%	13.87%	0.14%
Quant Multi Asset Allocation Fund - Direct PlanNAV: ₹180.31	5,257.41 Cr	20.63%	25.49%	21.52%	0.67%
Tata Multi Asset Allocation Fund - Direct PlanNAV: ₹27.86	5,000.98 Cr	10.53%	15.96%	14.44%	0.52%
Mirae Asset Multi Asset Allocation Fund - Direct PlanNAV: ₹13.71	3,341.60 Cr	12.59%	-	-	0.39%
Sundaram Multi Asset Allocation Fund - Direct PlanNAV: ₹13.39	3,276.76 Cr	8.81%	-	-	0.46%
Bandhan Multi Asset Allocation Fund - Direct PlanNAV: ₹14.47	3,240.29 Cr	18.30%	-	-	0.41%

About Multi Asset Allocation Funds

What is it?

Objective

The objective of the multi-asset allocation funds is to generate decent returns by investing in multiple asset classes. They aim to reduce risks by diversifying the portfolio.

Suitability and opinion

These funds are suitable for investors who want to create a diversified investment portfolio for long-term wealth creation. As these funds can change allocations in different asset classes as per market conditions, they can be a good option for someone who is willing to generate higher returns and is comfortable with high risk. As the fund manager can change allocations, his or her skill has a huge impact on fund returns. But, we believe that retail investors can avoid this category altogether and choose from hybrid fund options like aggressive, balanced, and conservative hybrid funds.

Multi Asset Allocation vs Other Categories

5Y CAGR Return Comparison

14.99%

11.90%

9.77%

Multi Asset Allocation

Aggressive Hybrid

Dynamic Asset Allocation

Key Insights

Multi Asset Allocation delivered 14.99% CAGR over the last 5 years.

It ranks #1 out of 7 categories based on 5Y performance.

Above the category average return of 9.76%.

0 categories outperform it, while 6 categories have lower returns.

Top performer: Multi Asset Allocation (14.99%).

Lowest performer: Arbitrage (6.44%).

Let's have a closer look

Now let us jump and check about these top 15 mutual fund schemes.

ICICI Prudential Multi Asset Fund - Direct Plan

Fund Performance: ICICI Prudential Multi Asset Fund - Direct Plan has given 17.70% annualized returns in the past three years and 18.27% in the last 5 years. The ICICI Prudential Multi Asset Fund - Direct Plan comes under the Hybrid category of ICICI Prudential Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in ICICI Prudential Multi Asset Fund - Direct Plan via lump sum is ₹ 5,000.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 5,000.00

AUM

₹ 83,547.40Cr

1Y Returns

7.58%

Expense Ratio

0.61%

SBI Multi Asset Allocation Fund - Direct Plan

Fund Performance: SBI Multi Asset Allocation Fund - Direct Plan has given 18.01% annualized returns in the past three years and 14.55% in the last 5 years. The SBI Multi Asset Allocation Fund - Direct Plan comes under the Hybrid category of SBI Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in SBI Multi Asset Allocation Fund - Direct Plan via lump sum is ₹ 5,000.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 5,000.00

AUM

₹ 17,666.00Cr

1Y Returns

14.79%

Expense Ratio

0.61%

Nippon India Multi Asset Allocation Fund - Direct Plan

Fund Performance: Nippon India Multi Asset Allocation Fund - Direct Plan has given 21.32% annualized returns in the past three years and 17.15% in the last 5 years. The Nippon India Multi Asset Allocation Fund - Direct Plan comes under the Hybrid category of Nippon India Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Nippon India Multi Asset Allocation Fund - Direct Plan via lump sum is ₹ 5,000.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 5,000.00

AUM

₹ 14,737.60Cr

1Y Returns

17.25%

Expense Ratio

0.92%

Kotak Multi Asset Allocation Fund - Direct Plan

Fund Performance: The Kotak Multi Asset Allocation Fund - Direct Plan comes under the Hybrid category of Kotak Mahindra Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Kotak Multi Asset Allocation Fund - Direct Plan via lump sum is ₹ 100.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 100.00

AUM

₹ 13,447.40Cr

1Y Returns

25.10%

Expense Ratio

0.52%

DSP Multi Asset Allocation Fund - Direct Plan

Fund Performance: The DSP Multi Asset Allocation Fund - Direct Plan comes under the Hybrid category of DSP Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in DSP Multi Asset Allocation Fund - Direct Plan via lump sum is ₹ 100.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 100.00

AUM

₹ 9,241.13Cr

1Y Returns

21.26%

Expense Ratio

0.45%

WhiteOak Capital Multi Asset Allocation Fund - Direct Plan

Fund Performance: WhiteOak Capital Multi Asset Allocation Fund - Direct Plan has given 16.96% annualized returns in the past three years. The WhiteOak Capital Multi Asset Allocation Fund - Direct Plan comes under the Hybrid category of WhiteOak Capital Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in WhiteOak Capital Multi Asset Allocation Fund - Direct Plan via lump sum is ₹ 500.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 500.00

AUM

₹ 7,118.26Cr

1Y Returns

12.99%

Expense Ratio

0.39%

UTI Multi Asset Allocation Fund - Direct Plan

Fund Performance: UTI Multi Asset Allocation Fund - Direct Plan has given 17.72% annualized returns in the past three years and 14.47% in the last 5 years. The UTI Multi Asset Allocation Fund - Direct Plan comes under the Hybrid category of UTI Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in UTI Multi Asset Allocation Fund - Direct Plan via lump sum is ₹ 5,000.00 and via SIP is ₹ 500.00.

Min Investment Amt

₹ 5,000.00

AUM

₹ 6,864.59Cr

1Y Returns

6.98%

Expense Ratio

0.57%

Aditya Birla Sun Life Multi Asset Allocation Fund - Direct Plan

Fund Performance: Aditya Birla Sun Life Multi Asset Allocation Fund - Direct Plan has given 17.48% annualized returns in the past three years. The Aditya Birla Sun Life Multi Asset Allocation Fund - Direct Plan comes under the Hybrid category of Aditya Birla Sun Life Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Aditya Birla Sun Life Multi Asset Allocation Fund - Direct Plan via lump sum is ₹ 500.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 500.00

AUM

₹ 6,530.45Cr

1Y Returns

14.88%

Expense Ratio

0.60%

HDFC Multi-Asset Allocation Fund - Direct Plan

Fund Performance: HDFC Multi-Asset Allocation Fund - Direct Plan has given 13.46% annualized returns in the past three years and 12.31% in the last 5 years. The HDFC Multi-Asset Allocation Fund - Direct Plan comes under the Hybrid category of HDFC Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in HDFC Multi-Asset Allocation Fund - Direct Plan via lump sum is ₹ 100.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 100.00

AUM

₹ 5,887.05Cr

1Y Returns

5.01%

Expense Ratio

0.85%

HDFC Multi-Asset Active FoF - Direct Plan

Fund Performance: HDFC Multi-Asset Active FoF - Direct Plan has given 14.87% annualized returns in the past three years and 13.87% in the last 5 years. The HDFC Multi-Asset Active FoF - Direct Plan comes under the Hybrid category of HDFC Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in HDFC Multi-Asset Active FoF - Direct Plan via lump sum is ₹ 100.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 100.00

AUM

₹ 5,780.50Cr

1Y Returns

6.03%

Expense Ratio

0.14%

Quant Multi Asset Allocation Fund - Direct Plan

Fund Performance: Quant Multi Asset Allocation Fund - Direct Plan has given 25.49% annualized returns in the past three years and 21.52% in the last 5 years. The Quant Multi Asset Allocation Fund - Direct Plan comes under the Hybrid category of Quant Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Quant Multi Asset Allocation Fund - Direct Plan via lump sum is ₹ 5,000.00 and via SIP is ₹ 1,000.00.

Min Investment Amt

₹ 5,000.00

AUM

₹ 5,257.41Cr

1Y Returns

20.63%

Expense Ratio

0.67%

Tata Multi Asset Allocation Fund - Direct Plan

Fund Performance: Tata Multi Asset Allocation Fund - Direct Plan has given 15.96% annualized returns in the past three years and 14.44% in the last 5 years. The Tata Multi Asset Allocation Fund - Direct Plan comes under the Hybrid category of Tata Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Tata Multi Asset Allocation Fund - Direct Plan via lump sum is ₹ 5,000.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 5,000.00

AUM

₹ 5,000.98Cr

1Y Returns

10.53%

Expense Ratio

0.52%

Mirae Asset Multi Asset Allocation Fund - Direct Plan

Fund Performance: The Mirae Asset Multi Asset Allocation Fund - Direct Plan comes under the Hybrid category of Mirae Asset Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Mirae Asset Multi Asset Allocation Fund - Direct Plan via lump sum is ₹ 5,000.00 and via SIP is ₹ 99.00.

Min Investment Amt

₹ 5,000.00

AUM

₹ 3,341.60Cr

1Y Returns

12.59%

Expense Ratio

0.39%

Sundaram Multi Asset Allocation Fund - Direct Plan

Fund Performance: The Sundaram Multi Asset Allocation Fund - Direct Plan comes under the Hybrid category of Sundaram Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Sundaram Multi Asset Allocation Fund - Direct Plan via lump sum is ₹ 100.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 100.00

AUM

₹ 3,276.76Cr

1Y Returns

8.81%

Expense Ratio

0.46%

Bandhan Multi Asset Allocation Fund - Direct Plan

Fund Performance: The Bandhan Multi Asset Allocation Fund - Direct Plan comes under the Hybrid category of Bandhan Mutual Fund.

Minimum Investment Amount: The minimum amount required to invest in Bandhan Multi Asset Allocation Fund - Direct Plan via lump sum is ₹ 1,000.00 and via SIP is ₹ 100.00.

Min Investment Amt

₹ 1,000.00

AUM

₹ 3,240.29Cr

1Y Returns

18.30%

Expense Ratio

0.41%