Multi Asset Allocation Fund - NAV | DSP Multi Asset Allocation Fund

Total AUM

₹7,731.13 crores
as of Jan 31, 2026

Age of Fund

2 years 4 months since Sep 27, 2023

Expense Ratio

1.43%
as of Feb 10, 2026

Exit Load

Nil: If the units r…

Ideal holding period

10 Years+

Portfolio as of Jan 31, 2026

Indian (36.1%)

Global (14.7%)

Large Cap	19.8%
Mid Cap	6.2%
Small Cap	3.5%
Others	6.6%

Holdings
Sectors

Holdings	Weight %
DSP Nifty50 Equal Weight ETF	5.0 %
HDFC Bank Limited	3.0 %
Axis Bank Limited	2.1 %
Bharti Airtel Limited	2.0 %
Infosys Limited	2.0 %
HCL Technologies Limited	1.6 %
ICICI Bank Limited	1.6 %
DSP Nifty PSU Bank ETF	1.5 %
Indus Towers Limited	1.2 %
Angel One Limited	1.1 %
GAIL (India) Limited	1.0 %
Mahindra & Mahindra Financial Services Limited	1.0 %
Oil India Limited	0.9 %
Jindal Steel Limited	0.9 %
Hindustan Petroleum Corporation Limited	0.9 %
Power Grid Corporation of India Limited	0.8 %
Bajaj Finserv Limited	0.8 %
Oberoi Realty Limited	0.8 %
Samvardhana Motherson International Limited	0.8 %
Craftsman Automation Limited	0.8 %
Hindustan Zinc Limited	0.8 %
Sun Pharmaceutical Industries Limited	0.7 %
Hindalco Industries Limited	0.7 %
LT Foods Limited	0.6 %
CIE Automotive India Limited	0.5 %
Maruti Suzuki India Limited	0.4 %
NMDC Limited	0.4 %
Tata Steel Limited	0.4 %
Godrej Consumer Products Limited	0.3 %
Hero MotoCorp Limited	0.3 %
Tata Motors Limited	0.3 %
Tata Motors Passenger Vehicles Limited	0.2 %
Archean Chemical Industries Limited	0.2 %
IPCA Laboratories Limited	0.2 %
Sapphire Foods India Limited	0.1 %
Alembic Pharmaceuticals Limited	0.1 %
GMM Pfaudler Limited	0.1 %
View All Holdings	36.1 % 21.1 %

Sectors Weight %

Banks 6.7 %

HDFC Bank Limited 3.0 %

Axis Bank Limited 2.1 %

ICICI Bank Limited 1.6 %

Others 6.6 %

DSP Nifty50 Equal Weight ETF 5.0 %

DSP Nifty PSU Bank ETF 1.5 %

IT - Software 3.5 %

Infosys Limited 2.0 %

HCL Technologies Limited 1.6 %

Telecom - Services 3.2 %

Bharti Airtel Limited 2.0 %

Indus Towers Limited 1.2 %

Auto Components 2.0 %

Samvardhana Motherson International Limited 0.8 %

Craftsman Automation Limited 0.8 %

CIE Automotive India Limited 0.5 %

Finance 1.8 %

Mahindra & Mahindra Financial Services Limited 1.0 %

Bajaj Finserv Limited 0.8 %

Non - Ferrous Metals 1.5 %

Hindustan Zinc Limited 0.8 %

Hindalco Industries Limited 0.7 %

Ferrous Metals 1.2 %

Jindal Steel Limited 0.9 %

Tata Steel Limited 0.4 %

Capital Markets 1.1 %

Angel One Limited 1.1 %

Pharmaceuticals & Biotechnology 1.1 %

Sun Pharmaceutical Industries Limited 0.7 %

IPCA Laboratories Limited 0.2 %

Alembic Pharmaceuticals Limited 0.1 %

View All Sectors Expand All

28.6 %

Equity includes Stocks, Domestic Fund of Funds and ETFs

Holdings	Weight %
SK Hynix Inc	2.0 %
	1.3 %
	1.1 %
Alibaba Group Holding Limited	1.1 %
Amazon.com Inc	1.0 %
Microsoft Corp	1.0 %
NVIDIA CORP	0.9 %
NOVO NORDISK ADR REPSG 1 ORD	0.9 %
Schneider Electric Se Ord	0.8 %
L'Oreal SA	0.8 %
Tencent Holdings Limited	0.7 %
	0.7 %
Contemporary Amperex Technology Co Limited	0.6 %
	0.6 %
Sony group	0.5 %
NIKE Inc	0.4 %
Brookfield Corporation	0.4 %
	0.1 %
Sony Financial Holdings INC NPV	0.0 %
	14.7 %10.7 %

Indian (30.4%)

Credit rating profile	Weight %
SOVEREIGN	6.3 %
AAA	3.4 %
AA+	0.7 %
Cash & Equivalent	20.1 %

Instrument break-up	Weight %
TREPS	15.0 %
Government Securities (Central/State)	6.3 %
Bonds & NCDs	4.0 %

Holdings	Weight %
TREPS / Reverse Repo Investments	15.0 %
Cash & cash equivalents	5.1 %
6.90% GOI 2065	2.1 %
7.09% GOI 2054	1.4 %
6.48% GOI 2035	1.0 %
Bharti Telecom Limited	1.0 %
REC Limited	0.7 %
Bharti Telecom Limited	0.7 %
Muthoot Finance Limited	0.7 %
7.03% Maharashtra SDL 2038	0.6 %
6.68% GOI 2040	0.6 %
7.24% GOI 2055	0.3 %
National Bank for Agriculture and Rural Development	0.3 %
Power Finance Corporation Limited	0.3 %
Power Finance Corporation Limited	0.3 %
7.06% GOI 2028	0.2 %
Bharti Telecom Limited	0.1 %
View All Holdings	30.4 %28.2 %

Holdings	Weight %
DSP Gold ETF	9.7 %
DSP SILVER ETF	4.0 %
	13.7 %

Holdings	Weight %
Embassy Office Parks REIT	2.0 %
Brookfield India Real Estate	1.0 %
Knowledge Realty Trust	1.0 %
Mindspace Business Parks Reit	0.5 %
Powergrid Infrastructure Investment Trust	0.5 %
	5.0 %

Indicators

Yield to Maturity

6.67 %

Modified Duration

4.29 Years

Portfolio Macaulay Duration

4.47 Years

Average Maturity

9.76 Years

Portfolio turnover ratio

0.83 last 12 months

Portfolio turnover ratio - Directional Equity

0.07 last 12 months

Performance

Performance highlights over last

for

investment

Cumulative returns on

Annual returns

Current value

Min CAGR:

MedianCAGR:

Max CAGR:

Good Returns

Negative Returns

vs Category

vs Benchmark

Historical Returns (As per SEBI format)as of with investment of₹10,000

	This fund		40% NIFTY500 TRI + 20% NIFTY C… ^{^}		NIFTY 50 TRI ^#
	CAGR	Current Value	CAGR	Current Value	CAGR	Current Value

Income distribution Cum Capital Withdrawal (IDCW) Distributed

Record Date	Face Value	IDCW per unit	NAV Before	NAV After

Chart type

Graph viewTable view

Invested as

Invested Amount

₹

Invested since

This fund

40% NIFTY500 TRI + 20%…

NIFTY 50 TRI

Gold

PPF

	Funds	Annual returns	Current Value	Absolute Growth	IDCW paid

Chart type:

Returns RangesStatistics

Invested Amount

₹

Rolling period

Funds	Minimum	Median	Maximum	% times -ve returns	% times returns > 7%

Click here to view the information ratio of the scheme.

Date of allotment: Sep 27, 2023.

Period for which fund's performance has been provided is computed based on last day of the month-end preceding the date of advertisement

Different plans shall have a different expense structure. The performance details provided herein are of Regular Plan.

Since inception returns have been calculated from the date of allotment till June 30, 2021

Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments

Rolling returns have been calculated based on returns from regular plan growth option.

Pursuant to payments of Income Distribution cum Capital Withdrawal, the NAV of the IDCW option(s) of Schemes would fall to the extent of payout, and statutory levy, if any.

^ Fund Benchmark # Additional Benchmark

Scheme disclaimers

Fund Details

Things to know before you invest

What is in DSP Multi Asset Allocation Fund?

It is a Hybrid scheme which can invest across Domestic equities (35-80%), Domestic debt (10-50%), Gold (10-50%), International equities (0-50%), Other commodities (0-20%), REITs & InvITs (0-10%)
Asset allocation of the fund will be dynamically managed by the fund manager based on various factors like expected returns, volatility, correlation among asset classes etc. Allocation ranges provided above in (brackets) above.
Fund will endeavour to participate more in International & domestic equities during bull market & during bear market fund will endeavour to reduce drawdowns by increasing allocation to debt & gold along with hedging domestic equities.
Investor can get long term capital gains taxed at 12.5% if holding period is greater than 2 years. Short term capital gains will be taxed at maximum marginal rate of tax based on investor's tax slab if holding period is less than or equal to 2 years.

Why should one invest in DSP Multi Asset Allocation Fund?

Can provide equity like returns over long-term with lower volatility & drawdowns.
Allocation to gold can provide opportunity to generate returns during crisis situations.
Fund can offer smoother investment journey with debt allocation along with opportunity of growth by investing in equities.
It tries to reduce the impact of market fluctuations in the portfolio.
Reduce capital drawdowns during falling markets through debt & gold allocation.
Diversify domestic risk by investing in gold & international equities.
Removes hassle of asset allocation by investor in tax-efficient way.

Who should invest in DSP Multi Asset Allocation Fund?

Retail Investors
- A first-time investor starting his/her investment journey.
- Investors expecting long-term equity-like returns with lower draw-downs.
- A one-stop fund for investors who do not know where to invest.

Rethink before you invest

This fund carries Very High Risk.
Fund will not remove the risks arising from market falls altogether, it aims to reduce the impact & smoothen your journey.
This fund may under-perform the equity market during sudden bull-runs.
Since fund is actively managed, fund can under-perform in short-term if fund managers style doesn't work.

Fund managers:

Aparna Karnik

Total work experience of 22 years. Managing this fund since September 2023.

arrow_forwardSee funds managed by her

Total work experience of 22 years. Managing this fund since September 2023.

arrow_forwardSee funds managed by her

Shantanu Godambe

Total work experience of 18 years. Managing this fund since August 2024.

arrow_forwardSee funds managed by him

Total work experience of 18 years. Managing this fund since August 2024.

arrow_forwardSee funds managed by him

Ravi Gehani

Total work experience of 11 years. Managing this fund since September 2023.

arrow_forwardSee funds managed by him

Total work experience of 11 years. Managing this fund since September 2023.

arrow_forwardSee funds managed by him

Aparna Karnik is Head of Quantitative Investments and Analytics (QIA). In this capacity, she leads the team that supports and advises on all aspects related to investment risk management. Aparna has 17 years of experience in investment, credit, and operations risk management. Prior to joining DSP, she worked with CRISIL Ratings in their Structured Finance Division and Large Corporates Group. She holds a Master?s in Management Studies degree from the Jamnalal Bajaj Institute of Management Studies.

Sr. No.	Scheme Name	Managing since	Period
Period for which fund's performance has been provided is computed based on last day of the month-end preceding the date of advertisement Different plans shall have a different expense structure. The performance details provided herein are of regular plan. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments

Sr. No.

Scheme Name

Managing since

Period

1 Years

3 Years

5 Years

Scheme return (%)

Benchmark return (%)

Scheme return (%)

Benchmark return (%)

Scheme return (%)

Benchmark return (%)

Period for which fund's performance has been provided is computed based on last day of the month-end preceding the date of advertisement

Different plans shall have a different expense structure. The performance details provided herein are of regular plan.

Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments

Shantanu has a total work experience of over 16 years. He joined DSP Asset Managers in March 2023 as Vice President in the Fixed Income Team. Shantanu has also worked with Yes Bank Ltd. as a Rates Trader. He has cleared the CFA from the CFA Institute, holds an M.S. (Finance) from ICFAI University, and a B.Com. from Mumbai University.

Sr. No.	Scheme Name	Managing since	Period
Period for which fund's performance has been provided is computed based on last day of the month-end preceding the date of advertisement Different plans shall have a different expense structure. The performance details provided herein are of regular plan. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments

Sr. No.

Scheme Name

Managing since

Period

1 Years

3 Years

5 Years

Scheme return (%)

Benchmark return (%)

Scheme return (%)

Benchmark return (%)

Scheme return (%)

Benchmark return (%)

Period for which fund's performance has been provided is computed based on last day of the month-end preceding the date of advertisement

Different plans shall have a different expense structure. The performance details provided herein are of regular plan.

Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments

Ravi Gehani has a total work experience of over 10 years in commodity trading, Price risk management of bullions, product development, and operations. He joined DSP Investment Managers in April 2022 as Fund Manager for Commodity ETFs. Prior to this, he held roles at Muthoot Exim Pvt Ltd, Latin Manharlal Commodities, and S-Ancial Global Solutions. Ravi holds a master?s degree in finance and a bachelor?s degree in commerce.

Sr. No.	Scheme Name	Managing since	Period
Period for which fund's performance has been provided is computed based on last day of the month-end preceding the date of advertisement Different plans shall have a different expense structure. The performance details provided herein are of regular plan. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments

Sr. No.

Scheme Name

Managing since

Period

1 Years

3 Years

5 Years

Scheme return (%)

Benchmark return (%)

Scheme return (%)

Benchmark return (%)

Scheme return (%)

Benchmark return (%)

Period for which fund's performance has been provided is computed based on last day of the month-end preceding the date of advertisement

Different plans shall have a different expense structure. The performance details provided herein are of regular plan.

Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments

Investment Objective

The investment objective of the Scheme is to seek to generate long term capital appreciation by investing in multi asset classes including equity and equity related securities, debt and money market instruments, commodity ETFs, exchange traded commodity derivatives and overseas securities.
There is no assurance that the investment objective of the Scheme will be achieved.

Fund Type

Hybrid – Multi Asset Allocation

An open ended scheme investing in equity/equity related securities, debt/ money market instruments, commodity ETFs, exchange traded commodity derivatives and overseas securities.

Riskometer

Level of Risk in the fund

View details

Minimum Investment

Lumpsum ₹ 100
SIP ₹ 100 (12 instalments)
Additional purchase ₹ 100

Tax Implications (Applies to redemptions or transfers made on or after April 1, 2025)

Taxation category - Non Equity Oriented Fund (other than Specified Mutual Fund) Sub Category - Multi Asset Allocation

Holding period	Capital gain type	Applicable tax rate
More than 24 months	Long term	12.5 %
24 months or less	Short term	Applicable Rate

Mutual fund taxation is based on the fund's taxation category, sub-category, and holding period. The applicable tax rates are subject to prevailing tax laws, including surcharges, cess, and exemptions. Please consult a tax advisor for personalized guidance. View detailed tax guide

Transaction timelines

Purchase (including SIP) Redemption (including SWP) Switch-out (including STP-out) Switch-in (including STP-in)

NAV You Get	Cut-off Time	Processing Timeline
Same-day NAV (if money is received before cut-off)	3:00 PM (business days)	Units added to your folio on T+1 days (if money is received before cut-off).

NAV You Get	Cut-off Time	Processing Timeline
Same-day NAV (if request is placed before cut-off)	3:00 PM (business days)	Redemption processed on T+1 business days. Money credited to your bank account by T+2 business days.

NAV You Get	Cut-off Time	Processing Timeline
Same-day NAV (if request is placed before cut-off)	3:00 PM (business days)	Switch-out processed on T+2 business days

NAV You Get	Cut-off Time	Processing Timeline
NAV of this scheme	3:00 PM (business days)	Units added on T+1 business days after the switch-out from the source scheme.

NAV You Get	Cut-off Time	Processing Timeline
NA	NA	Money credited instantly.

Requests after cut-off are processed using next business day's NAV.
Business days: Monday to Friday (excluding public holidays).
No transactions are processed on weekends or public holidays. Click here to view the list of Non-Business Days.
T+1, T+3, T+5 refer to 1 / 3 / 5 working days after the transaction day.
Kindly note that the processing timeline for Switch-In transactions is governed by the TAT of the respective Switch-Out scheme. Hence the Switch-Out TAT should be referred to for estimating the Switch-In timeline.

FAQs

There are two major ways to invest in the DSP Multi Asset Allocation Fund. One is investing through the DSP Mutual Fund website. The other is through a SEBI registered market intermediary, such as zero brokerage mutual fund platforms. It is important to note that DSP Multi Asset Allocation Fund has two plans i.e., the direct plan and the regular plan. You can invest in the direct plan of the mutual fund scheme through zero brokerage platforms or through the website of the DSP Mutual Fund. You can purchase the regular plan through a mutual fund distributor. If you are investing in the direct plan from a no brokerage app, the name of the mutual funds scheme you should look for is DSP Multi Asset Allocation Fund Direct Plan - Growth Option.

An investor can redeem mutual funds units of DSP Multi Asset Allocation Fund by following the below enumerated steps:
(a) login into your investment app/website: Login into your account with your investment app/website using your credentials. Investment app/website will be the platform through which you made the investment in DSP Multi Asset Allocation Fund initially, it may be a mobile app or DSP Mutual Fund's website or a brokerage firm's website;
(b) find your investment: ideally, your investment platform will list all the investments you have made through that particular platform, locate the DSP Multi Asset Allocation Fund in your portfolio;
(c) initiate redemption: Select the "Redeem" or "Sell" option for your DSP Multi Asset Allocation Fund units;
(d) enter redemption details: specify the number of mutual fund units you want to redeem or the alternatively the amount you want to withdraw;
(e) confirm redemption: review the redemption details and confirm your redemption request;
(f) await confirmation: ideally your redemption request will be immediately registered within the system and a confirmation message will appear. The exact processing time for transfer of money may vary depending on the investment platform and market conditions.
(g) receipt of funds: once the redemption is processed, the funds will be credited to the bank account linked to your investment platform.

The expense ratio is an annual fee charged to investors by the mutual fund house for providing investment services. This fee covers the operational and management expenses of running the fund. Mutual fund schemes typically have two plans: regular and direct. The direct plan usually has a lower expense ratio, as it is purchased directly from the mutual fund house without involving intermediaries. In contrast, the regular plan tends to have a higher expense ratio because it is distributed through SEBI-registered ntermediaries, such as mutual fund distributors, who receive commission for their services.

As discussed above investing in DSP Multi Asset Allocation Fund can result in a number of benefits for the investors such as; (a) capital appreciation: by investing in DSP Multi Asset Allocation Fund investors may benefit from potential capital appreciation of their investment; (b) portfolio diversification: by investing in the fund investors can diversify their portfolio. Multi asset allocation funds provide investors with a unique opportunity to invest in a number of asset classes through a single mutual fund; (c) cost effective investment: as mentioned above the DSP Multi Asset Allocation Fund has a relatively low expense ratio, this allows investors to gain from capital appreciation in a cost-effective manner.