Multi Asset Allocation · Hybrid

DSP Multi Asset Allocation Fund

DSP Asset Managers Private Limited

Benchmark

40% NIFTY500 TRI + 20% NIFTY Composite Debt Index + 15% Domestic Price of Physical Gold (LBMA) + 5% iCOMDEX Composite Index + 20% MSCI World Index

Riskometer

Very High

Size

₹10,862 cr

Allotted

27 Sep 2023

Holdings as of

30 Sep 2026

DSP Multi Asset Allocation Fund is a multi asset allocation fund of DSP Asset Managers Private Limited with ₹10,862 cr under management. Its direct plan charges 0.62% a year. Aparna Karnik has managed it for 3.0 years.

Has DSP Multi Asset Allocation Fund beaten its benchmark?

+6.52% over the last year on the direct plan.

Period returns

Direct Plan, growth · 3y and longer a year

Period	Fund	Nifty 500 TRI	Ahead
1 month	−2.39%	−3.60%	—
3 months	−2.70%	−5.03%	—
6 months	−0.57%	−1.83%	—
1 year	+6.52%	−4.06%	+10.58 pts
3 years	+17.37%	+9.27%	+8.10 pts
5 years	—	+8.00%	—
10 years	—	+12.69%	—
Since start from 29 Sep 2023	+17.26%	—	—

Valarth price history to 13 Oct 2026 · the index is the one the fund is nearest; — not on record

Official figures

AMFI performance feed, 13 Oct 2026

Period	Direct	Regular	Benchmark	Ahead	Rank
1y	+6.52%	+5.36%	—	—	🔒
3y	+17.34%	+15.85%	—	—	🔒
5y	—	—	—	—	—
10y	—	—	—	—	—

Ahead in points a year · its rank among Multi Asset Allocation funds, and how steady the lead is, in the app

Value of 100, month-end

Sep 2023 to 13 Oct 2026

Fund 162Nifty 500 TRI 131

₹100 put in at the start of Sep 2023 would be ₹162 on 13 Oct 2026, against ₹131 in the Nifty 500 TRI.

Risk, falls and every year

🔒 Pro

Its worst fall and how long it took to recover, three-year stretches, Sharpe, beta and capture ratios, calendar years beside the index, and money in and out: in the app.

See them in the app →

What does DSP Multi Asset Allocation Fund cost?

0.62% a year on the direct plan, 1.58% on the regular plan; 2 of 18 funds in its category charge less.

Direct plan

0.62% a year

Category median 0.93%

Regular plan

1.58% a year

Category median 2.21%

Gap

0.96 points

for the same holdings

2 of 18 funds in its category charge less on the direct plan.

Expense report, Oct 2026 · Hybrid Schemes - Multi Asset Allocation Fund

What the regular plan costs you over time

🔒 Pro

The same money left for years in the direct and the regular plan, side by side, and what the commission takes: in the app.

Who manages DSP Multi Asset Allocation Fund?

Aparna Karnik, since 27 Sep 2023; Shantanu Godambe, since 1 Aug 2024; Ravi Gehani, since 27 Sep 2023.

Aparna Karnik

Primary (Equity and Overseas portion)

3.0 years

since 27 Sep 2023

Shantanu Godambe

Primary (Debt portion)

2.2 years

since 1 Aug 2024

Ravi Gehani

Dedicated Fund Manager for Commodities

3.0 years

since 27 Sep 2023

Benchmark as filed40% NIFTY500 TRI + 20% NIFTY Composite Debt Index+ 15% Domestic price of Gold + 5% iCOMDEX Composite Index + 20% MSCI World Index

Exit load

Holding period from the date of allotment: − Up to 10% of units: Nil exit load if redeemed or switched out within 1 month. − Exceeding 10% of units: 1% exit load if redeemed or switched within 1 month. − After 1 months: Nil exit load on any redemption or switch-out

From 114 Scheme Summary Documents filed with NSE, first on 13 Apr 2026; as on 12 Oct 2026

What does DSP Multi Asset Allocation Fund hold?

110 holdings as of 30 Sep 2026; the ten largest are 37.6% of the fund, the largest HDFC Bank Limited at 3.5%.

Mix

Holdings as of 30 Sep 2026

Equity55.4%Debt10.7%Cash4.9%Other29.0%

Holdings

110

83 shares

Top ten

37.6%

of the fund

Effective holdings

45.9

spread, as if equal-weighted

Matched to our table

78%

of the equity

Five largest

% of fund

HDFC Bank Limited3.54%

Axis Bank Limited2.98%

ICICI Bank Limited2.79%

Bharti Airtel Limited2.02%

Nvidia Corp1.62%

Five largest industries

% of fund

Banks19.6%

Realty8.90%

Petroleum Products5.00%

Consumer Durables4.50%

Automobiles4.30%

By company size

% of equity · SEBI size lists

Large Cap67.3%Mid Cap15.5%Small Cap17.3%

How does DSP Multi Asset Allocation Fund score against its category?

Seven scores against funds of its kind, and the warning signs it trips.

Scorecard

🔒 Pro

Seven scores, each out of 5, against funds in its category, with the reasons, and the warning signs it trips: in the app.

Open scorecard in the app →

Are the companies inside any good?

The holdings by valuation, forensic risk, business quality and balance sheet, weighted by their share of the fund.

The companies inside

🔒 Pro

The holdings weighted by their share of the fund: P/E and ROE, forensic risk levels, Valarth's valuation view, quality, moats, balance sheets and who owns them: in the app.

How is DSP Multi Asset Allocation Fund run?

Turnover, what it bought and sold, its cash and its record in new listings, from its monthly holdings files.

How it is run

🔒 Pro

Turnover, what it bought and sold and when, how long it holds, size drift, cash and its record in new listings, from up to two years of monthly holdings files: in the app.

Which funds hold much the same?

The index it is nearest and the funds whose holdings overlap most.

not an index tracker

Nearest to the Nifty 50: 64% of it differs from the index (an active fund is usually above 60%).

Active share 63.5%60%

Funds that hold much the same

% of holdings in common

DSP Value Fund50.5% the same

41 shared holdings

DSP Business Cycle Fund47.9% the same

32 shared holdings

DSP Large Cap Fund46.0% the same

28 shared holdings

How much is in its sponsor's own group?

Holdings in companies of the fund house's sponsor group, beside the index.

Related-party exposure

🔒 Pro

How much of the fund is in companies of its sponsor's own group, beside what the index holds of them: in the app.

Questions people ask

Who manages DSP Multi Asset Allocation Fund?

Aparna Karnik (Primary (Equity and Overseas portion)) since 27 Sep 2023; Shantanu Godambe (Primary (Debt portion)) since 1 Aug 2024; Ravi Gehani (Dedicated Fund Manager for Commodities) since 27 Sep 2023.

What is the expense ratio of DSP Multi Asset Allocation Fund?

0.62% a year on the direct plan and 1.58% on the regular plan (expense report, Oct 2026).

How has DSP Multi Asset Allocation Fund done?

Its direct plan returned +17.34% a year over 3 years against None for its benchmark, 40% NIFTY500 TRI + 20% NIFTY Composite Debt Index + 15% Domestic Price of Physical Gold (LBMA) + 5% iCOMDEX Composite Index + 20% MSCI World Index, as of 13 Oct 2026.