Nippon India Multi Asset Allocation Fund: A consistently top performing multi asset fund for current market conditions

Current market context

Equity market turned volatile as crude oil prices surged to over $100 per barrel amidst geo-political uncertainties. FPIs have been net sellers of equity on a year-to-date basis (see the chart below). The Nifty fell its lowest level in the current financial year (YTD). Global bond prices fell as yields surged. The 10-year G-Sec yield firmed up by 30 bps in September (as on 24^th September 2026).

Source: NSDL, Advisorkhoj Research, as on 24^th September 2026

Commodity prices have been volatile with precious metals crashing in January and rebounding again. International equities like the US market outperformed domestic equities. The asset price trends over the last 2 years show that there is low correlation between price behaviour of different asset classes in different market conditions (see the charts below). As such, a multi asset allocation strategy can bring stability and provide superior risk / return trade off in current global environment of uncertainty.

In this article, we will review Nippon India Multi Asset Allocation Fund, a top performing fund in the multi asset allocation hybrid funds category.

Source: NSE, MCX, Bloomberg, Advisorkhoj Research, as on 24^th September 2026

Nippon India Multi Asset Allocation Fund - Consistent outperformance

Nippon India Multi Asset Allocation Fund is one of the most consistent performers in Multi Asset Allocation Fund category. The graphic below shows the quartile rankings of Nippon India Multi Asset Allocation Fund for the last 12 quarters (last 3 years, as on 30^th June 2026). The fund was in top 2 quartiles, 10 times in the last 12 quartiles.

Source: Advisorkhoj Research, as on 30^th June 2026

Superior risk adjusted return to broad equity market index

The chart below shows the median and minimum rolling returns of Nippon India Multi Asset Allocation Fund versus the broad market index, Nifty 50 TRI for different investment tenures since the inception of the scheme. You can see that the fund gave higher median returns than Nifty 50 TRI across all tenures. At the same time, the minimum returns was more than Nifty 50 TRI, across investment tenures. In other words, the fund gave superior risk adjusted returns relative to Nifty 50 TRI.

Source: Advisorkhoj Research, as on 24^th September 2026

Limited downside risks for investors

The chart below shows the drawdowns of the Nippon India Multi Asset Allocation Fund versus the broad market index, Nifty 50 TRI since the inception of the scheme. You can see that Nippon India Multi Asset Allocation Fund experienced smaller drawdowns compared to Nifty 50 TRI.

Source: NSE, Advisorkhoj Research, as on 24^th September 2026

Consistently outperformed peer average

The chart below shows the 3-year rolling returns of Nippon India Multi Asset Allocation Fund versus the category average returns. You can see that, after an initial brief period of underperformance, the fund outperformed the category average across different market conditions.

Source: NSE, Advisorkhoj Research, as on 24^th September 2026

The chart below shows the rolling returns distribution of Nippon India Multi Asset Allocation Fund versus the category average for different investment tenures. You can see that the fund gave higher instances of 12%+ CAGR returns compared to the category average over 1-year and 2-year investment tenures.

Source: NSE, Advisorkhoj Research, as on 24^th September 2026. *Fund - Nippon India Multi Asset Allocation Fund. Category - Hybrid Multi Asset Allocation Fund category average

Investment strategy

Current Asset Allocation

Source: NSE, Advisorkhoj Research, as on 24^th September 2026. *Fund - Nippon India Multi Asset Allocation Fund. Category - Hybrid Multi Asset Allocation Fund category average

Note on taxation

Minimum holding period for long term capital gains taxation for Nippon India Multi Asset Allocation Fund is 24 months. Short term capital gains will be taxed as per the income tax rate of the investor. Long term capital gains will be taxed at 12.5%.

Why invest in Nippon India Multi Asset Allocation Fund?

• Nippon India Multi Asset Allocation Fund seeks to provide diversification across asset classes with an aim to provide better risk adjusted returns.


• Nippon India Multi Asset Allocation Fund also offers diversification under respective asset classes.


• The fund aims to benefit from Tax efficiency through rebalancing within the fund.


• Nippon India Multi Asset Allocation Fund is a one stop solution which may help to reap benefit of Growth of Equity, Stability of Debt & Diversification from Commodities.

Who can find Nippon India Multi Asset Allocation Fund suitable?

• Investors looking for capital appreciation over long investment horizons.


• Investors who want to reduce portfolio volatility by diversifying across multiple asset classes.


• Investors with minimum 3 - 5 years investment tenure.


• Investors with moderately high to high-risk appetites.


• You can invest either in lump sum or SIP based on your investment needs.

Investors should consult their financial advisors or mutual fund distributors if Nippon India Multi Asset Fund is suitable for their investment needs.