About Dynamic Asset Allocation Mutual Funds
Dynamic Asset Allocation Funds (DAAFs) are a new concept in the Indian mutual fund industry. The investment objective of DAAFs is to provide investors with long-term capital appreciation while minimising the risk of capital loss. These funds have gained popularity in recent years due to their unique investment strategy.
Top 10 Dynamic Asset Allocation or Balanced Advantage Funds Mutual Funds to Invest in
| Name | AUM (₹ Crore) | CAGR 3Y (%) | 1Y Returns (%) | Expense Ratio |
| HDFC Balanced Advantage Fund | 106,820.61 | 18.92 | 11.12 | 0.73 |
| Axis Balanced Advantage Fund | 3,773.12 | 15.98 | 9.33 | 0.73 |
| Baroda BNP Paribas Balanced Advantage Fund | 4,672.21 | 15.86 | 13.92 | 0.75 |
| SBI Balanced Advantage Fund | 39,914.31 | 15.43 | 12.09 | 0.7 |
| Mahindra Manulife Balanced Advantage Fund | 912.79 | 15.36 | 9.83 | 0.55 |
| Franklin India Balanced Advantage Fund | 2,849.51 | 14.86 | 8.52 | 0.49 |
| Aditya Birla SL Balanced Advantage Fund | 8,899.24 | 14.82 | 13.34 | 0.66 |
| Mirae Asset Balanced Advantage Fund | 2,021.33 | 14.59 | 12.22 | 0.74 |
| ICICI Pru Balanced Advantage Fund | 70,534.59 | 14.57 | 13.56 | 0.86 |
| Nippon India Balanced Advantage Fund | 9,597.81 | 14.38 | 10.76 | 0.57 |
Note: The data is as of February 2026, with funds ranked by the highest 3-year CAGR among Dynamic Asset Allocation or Balanced Advantage Funds Mutual Fund schemes.
HDFC Balanced Advantage Fund
The HDFC Balanced Advantage Fund is an open‑ended dynamic asset allocation scheme aiming for long‑term capital appreciation and income through a mix of equity and debt. The fund is managed by a multi‑manager team including Anil Bamboli, Nandita Menezes, Gopal Agrawal, Srinivasan Ramamurthy, Dhruv Muchhal and Arun Agarwal.
It is benchmarked against the NIFTY 50 Hybrid Composite Debt 50:50 Index. An exit load of 1% applies if units in excess of 15% are redeemed within 1 year.
Axis Balanced Advantage Fund
The Axis Balanced Advantage Fund is an open‑ended dynamic asset allocation scheme investing in a mix of equity, equity‑linked securities, debt and money market instruments. The fund is jointly managed by Jayesh Sundar, Devang Shah and Hardik Shah.
It is benchmarked against the NIFTY 50 Hybrid Composite Debt 50:50 Index. An exit load of 1% is charged if units in excess of 10% are redeemed within 12 months.
Baroda BNP Paribas Balanced Advantage Fund
The Baroda BNP Paribas Balanced Advantage Fund is an open‑ended dynamic asset allocation scheme investing across equities, equity‑linked instruments, debt and money market securities. The fund is managed by Sanjay Chawla.
It is benchmarked against the NIFTY 50 Hybrid Composite Debt 50:50 Index. An exit load of 1% applies if units beyond 10% are redeemed within 1 year.
SBI Balanced Advantage Fund
The SBI Balanced Advantage Fund is an open‑ended dynamic asset allocation scheme designed to provide long‑term capital appreciation and income via equity‑debt mix. The fund is managed by the SBI Mutual Fund team under Rajeev Radhakrishnan.
It is benchmarked against the NIFTY 50 Hybrid Composite Debt 50:50 Index. An exit load of 1% is levied if units over 10% are redeemed within 1 year.
Mahindra Manulife Balanced Advantage Fund
The Mahindra Manulife Balanced Advantage Fund is an open‑ended dynamic asset allocation scheme aiming for capital appreciation through equity, debt and money market instruments. The fund is managed by Fatema Pacha, Rahul Pal and Amit Garg.
It is benchmarked against the NIFTY 50 Hybrid Composite Debt 50:50 Index. An exit load of 1% applies if units in excess of 10% are redeemed within 3 months.
Franklin India Balanced Advantage Fund
The Franklin India Balanced Advantage Fund is an open‑ended dynamic asset allocation scheme investing across equities, debt and money market instruments. The fund is managed by Rajasa Kakulavarapu, Rahul Goswami and Anuj Tagra.
It is benchmarked against the NIFTY 50 Hybrid Composite Debt 50:50 Index. An exit load of 1% applies if units beyond 10% are redeemed within 1 year.
Aditya Birla Sun Life Balanced Advantage Fund
The Aditya Birla Sun Life Balanced Advantage Fund is an open‑ended dynamic asset allocation scheme seeking long‑term growth through a balanced portfolio of equity and fixed‑income securities.
The fund is managed by Mohit Sharma, Lovelish Solanki and Harish Krishnan. It is benchmarked against the CRISIL Hybrid 50+50 Moderate Index. An exit load of 0.25% applies if units are redeemed within 7 days.
Mirae Asset Balanced Advantage Fund
The Mirae Asset Balanced Advantage Fund is an open‑ended dynamic asset allocation scheme investing in equities, debt and derivatives. The fund is managed by Harshad Borawake and Basant Bafna.
It is benchmarked against the NIFTY 50 Hybrid Composite Debt 50:50 Index. An exit load of 1% is applicable if units exceeding 15% are redeemed within 180 days.
ICICI Prudential Balanced Advantage Fund
The ICICI Prudential Balanced Advantage Fund is an open‑ended dynamic asset allocation scheme combining equity, derivatives, arbitrage and debt to generate capital appreciation and income. The fund is managed by a team including Rajat Chandak, Manish Banthia, Ihab Dalwai, Akhil Kakkar and Sri Sharma.
It is benchmarked against the CRISIL Hybrid 50+50 Moderate Index. An exit load of 1% applies if units over 30% are redeemed within 1 year.
Nippon India Balanced Advantage Fund
The Nippon India Balanced Advantage Fund is an open‑ended dynamic asset allocation scheme aiming to capture equity upside while managing downside through debt and derivatives. The fund is managed by Ashutosh Bhargava, Sushil Budhia and Bhavik Dave.
It is benchmarked against the CRISIL Hybrid 50+50 Moderate Index. An exit load of 1% applies if units beyond 10% are redeemed within 12 months.
