Top 3 Best Balanced Funds by Nippon/Reliance Mutual Fund 2026

Updated on July 19, 2026 , 6288 views

Balanced Fund are a combination of both debt and Equity Funds. These funds provide benefits of both funds, i.e., long-term wealth creation by equity and regular returns by Investing in debt funds. Generally, these funds are a good option for the investors who are looking for ways to diversify their investments within a short to medium time period with less risk to moderate risk.

Nippon India Mutual Fund (Formerly known as Reliance Mutual Fund), being one of the leading AMCs in India, investors often look at the top performing schemes of this fund house. Thus, we have shortlisted top 3 best balanced funds by Nippon/Reliance MF. Important parameters like AUM, NAV, past performances, have been undertaken to shortlist these funds. Investors can invest in these balanced funds and earn optimal returns.

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Important Information

From October 2019, Reliance Mutual Fund has been renamed as Nippon India Mutual Fund. Nippon Life has acquired majority (75%) stakes in Reliance Nippon Asset Management (RNAM). The company will continue to run its operations without any change in structure and management.

Why Invest in Nippon/Reliance Mutual Funds?

Innovative: The AMC consistently delivers new and innovative schemes to its investors.
Great Customer Care: The company takes great care of its investors. It has a very stable and high-functioning customer support team in place to help the investors.
Seasoned Experience: Reliance has been in the market for over two decades. It has an experience and expertise in fund management and financial services.
Strong Network: The distribution network of Nippon India Mutual Fund is very strong. It has a presence in over 150 cities in India.

Fund Selection Methodology used to find 3 funds

Category: Hybrid
Asset Management Company : Nippon India
Sorted On : drat (high to low)
Tags: fcpro
No Of Funds: 3

Best Nippon/Reliance Balanced Mutual Funds

Fund	NAV	Net Assets (Cr)	3 MO (%)	6 MO (%)	1 YR (%)	3 YR (%)	5 YR (%)	2025 (%)
Nippon India Arbitrage Fund Growth	₹28.1878 ↑ 0.02	₹16,638	1.4	2.9	5.9	6.7	5.9	6.2
Nippon India Equity Hybrid Fund Growth	₹106.929 ↑ 0.12	₹4,014	0.5	2.5	1.8	11.1	11.7	6.1
Nippon India Hybrid Bond Fund Growth	₹61.7859 ↑ 0.02	₹967	1.6	3	6.4	8	7.9	9.7
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 21 Jul 26

Research Highlights & Commentary of 3 Funds showcased

Commentary	Nippon India Arbitrage Fund	Nippon India Equity Hybrid Fund	Nippon India Hybrid Bond Fund
Point 1	Highest AUM (₹16,638 Cr).	Lower mid AUM (₹4,014 Cr).	Bottom quartile AUM (₹967 Cr).
Point 2	Established history (15+ yrs).	Established history (21+ yrs).	Oldest track record among peers (22 yrs).
Point 3	Top rated.	Rating: 4★ (lower mid).	Rating: 3★ (bottom quartile).
Point 4	Risk profile: Moderately Low.	Risk profile: Moderately High.	Risk profile: Moderate.
Point 5	5Y return: 5.93% (bottom quartile).	5Y return: 11.71% (upper mid).	5Y return: 7.89% (lower mid).
Point 6	3Y return: 6.72% (bottom quartile).	3Y return: 11.12% (upper mid).	3Y return: 7.98% (lower mid).
Point 7	1Y return: 5.89% (lower mid).	1Y return: 1.75% (bottom quartile).	1Y return: 6.38% (upper mid).
Point 8	1M return: 0.56% (bottom quartile).	1M return: 0.99% (upper mid).	1M return: 0.89% (lower mid).
Point 9	Alpha: 0.00 (bottom quartile).	Alpha: 0.80 (lower mid).	Alpha: 1.68 (upper mid).
Point 10	Sharpe: 0.22 (upper mid).	Sharpe: -0.33 (bottom quartile).	Sharpe: 0.22 (lower mid).

Nippon India Arbitrage Fund

Highest AUM (₹16,638 Cr).
Established history (15+ yrs).
Top rated.
Risk profile: Moderately Low.
5Y return: 5.93% (bottom quartile).
3Y return: 6.72% (bottom quartile).
1Y return: 5.89% (lower mid).
1M return: 0.56% (bottom quartile).
Alpha: 0.00 (bottom quartile).
Sharpe: 0.22 (upper mid).

Nippon India Equity Hybrid Fund

Lower mid AUM (₹4,014 Cr).
Established history (21+ yrs).
Rating: 4★ (lower mid).
Risk profile: Moderately High.
5Y return: 11.71% (upper mid).
3Y return: 11.12% (upper mid).
1Y return: 1.75% (bottom quartile).
1M return: 0.99% (upper mid).
Alpha: 0.80 (lower mid).
Sharpe: -0.33 (bottom quartile).

Nippon India Hybrid Bond Fund

Bottom quartile AUM (₹967 Cr).
Oldest track record among peers (22 yrs).
Rating: 3★ (bottom quartile).
Risk profile: Moderate.
5Y return: 7.89% (lower mid).
3Y return: 7.98% (lower mid).
1Y return: 6.38% (upper mid).
1M return: 0.89% (lower mid).
Alpha: 1.68 (upper mid).
Sharpe: 0.22 (lower mid).

About the Fincash Research Team

At Fincash, our mission is to help investors make informed, confident decisions. With over 10 years in Mutual Fund distribution, our team blends deep industry expertise with a commitment to transparency, accuracy, and investor education.

Who We Are

AMFI Registration No.: 112358
MCA CIN: U74999MH2016PTC282153
Location: Thane, Maharashtra, India
Experience: 10+ years in Mutual Fund distribution

Our Expertise

Certified Mutual Fund Distributors with hands-on advisory experience.
Market analysts tracking performance, macro trends, and sectors.
Data specialists processing NAVs, allocations, and risk metrics from Morning Star.

Our Research Process

Data sourcing: SEBI-registered fund houses & verified third-party provider Morning Star
Screening: Returns, manager track record, expenses, sector mix, risk-adjusted metrics.
Expert review: Senior team members review every article and list for accuracy.
Updates: Regular refreshes so performance data reflects current market conditions.

Why Trust Us

Regulated & compliant: AMFI-registered and MCA-incorporated.
Investor-first: No pay-to-promote lists; suitability and performance drive coverage.
Education-focused: We simplify complex concepts for everyday investors.

Disclaimer

Content is for educational and informational purposes only and is not investment advice. Please consider your risk profile and consult a financial advisor before investing.

1. Nippon India Arbitrage Fund

(Erstwhile Reliance Arbitrage Advantage Fund)

The investment objective of the scheme is to generate income by taking advantage of the arbitrage opportunities that potentially exists between cash and derivative market and within the derivative segment along with investments in debt securities & money market instruments.

Research Highlights for Nippon India Arbitrage Fund

Highest AUM (₹16,638 Cr).
Established history (15+ yrs).
Top rated.
Risk profile: Moderately Low.
5Y return: 5.93% (bottom quartile).
3Y return: 6.72% (bottom quartile).
1Y return: 5.89% (lower mid).
1M return: 0.56% (bottom quartile).
Alpha: 0.00 (bottom quartile).
Sharpe: 0.22 (upper mid).
Information ratio: 0.00 (bottom quartile).

Below is the key information for Nippon India Arbitrage Fund

Nippon India Arbitrage Fund Growth
Launch Date	14 Oct 10
NAV (21 Jul 26)	₹28.1878 ↑ 0.02 (0.06 %)
Net Assets (Cr)	₹16,638 on 30 Jun 26
Category	Hybrid - Arbitrage
AMC	Nippon Life Asset Management Ltd.
Rating	☆☆☆☆
Risk	Moderately Low
Expense Ratio	1.07
Sharpe Ratio	0.22
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	100
Exit Load	0-1 Months (0.25%),1 Months and above(NIL)

Growth of 10,000 investment over the years.

Date	Value
30 Jun 21	₹10,000
30 Jun 22	₹10,364
30 Jun 23	₹10,957
30 Jun 24	₹11,790
30 Jun 25	₹12,590
30 Jun 26	₹13,318

Nippon India Arbitrage Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹349,120.
Net Profit of ₹49,120 Invest Now

Returns for Nippon India Arbitrage Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 21 Jul 26

Duration	Returns
1 Month	0.6%
3 Month	1.4%
6 Month	2.9%
1 Year	5.9%
3 Year	6.7%
5 Year	5.9%
10 Year
15 Year
Since launch	6.8%

Historical performance (Yearly) on absolute basis

Year	Returns
2025	6.2%
2024	7.5%
2023	7%
2022	4.2%
2021	3.8%
2020	4.3%
2019	6.2%
2018	6.8%
2017	5.5%
2016	6.6%

Fund Manager information for Nippon India Arbitrage Fund

Name	Since	Tenure
Kinjal Desai	25 May 18	8.1 Yr.
Vikash Agarwal	14 Sep 24	1.79 Yr.
Nemish Sheth	21 Mar 25	1.28 Yr.
Rohit Shah	8 Apr 24	2.23 Yr.
Amber Singhania	11 Mar 26	0.3 Yr.

Data below for Nippon India Arbitrage Fund as on 30 Jun 26

Asset Allocation

Asset Class	Value
Equity	140.95%
Debt	8.25%
Other	0.06%

Equity Sector Allocation

Sector	Value
Financial Services	25.75%
Basic Materials	9.28%
Consumer Cyclical	7.98%
Energy	7.13%
Industrials	5.49%
Communication Services	4.01%
Health Care	3.8%
Utility	3.11%
Consumer Defensive	2.7%
Real Estate	0.79%
Technology	0.57%

Debt Sector Allocation

Sector	Value
Corporate	16.46%
Government	3.66%

Credit Quality

Rating	Value
AA	36.68%
AAA	63.32%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Nippon India Money Market Dir Gr Investment Fund \| -	15%	₹2,441 Cr	5,504,465 ↑ 451,140
Nippon India U/ST Duration Dir Gr Investment Fund \| -	7%	₹1,193 Cr	2,533,969 ↑ 425,422
HDFC Bank Ltd (Financial Services) Equity, Since 31 Jan 23 \| HDFCBANK	6%	₹952 Cr	12,786,150 ↑ 1,419,400
Future on HDFC Bank Ltd Cedear Derivatives, Since 31 May 26 \| -	6%	₹948 Cr	12,786,150 ↑ 12,786,150
Future on Reliance Industries Ltd Derivatives, Since 31 May 26 \| -	5%	₹754 Cr	5,666,000 ↑ 5,666,000
Reliance Industries Ltd (Energy) Equity, Since 31 Dec 17 \| RELIANCE	5%	₹749 Cr	5,666,000 ↑ 2,751,500
Future on ICICI Bank Ltd Derivatives, Since 31 May 26 \| -	4%	₹581 Cr	4,571,700 ↑ 4,571,700
ICICI Bank Ltd (Financial Services) Equity, Since 31 Oct 24 \| ICICIBANK	4%	₹574 Cr	4,571,700 ↑ 1,042,300
Future on Axis Bank Ltd Derivatives, Since 31 May 26 \| -	2%	₹394 Cr	3,031,875 ↑ 3,031,875
Axis Bank Ltd (Financial Services) Equity, Since 31 Jul 23 \| AXISBANK	2%	₹390 Cr	3,031,875 ↑ 262,500

2. Nippon India Equity Hybrid Fund

(Erstwhile Reliance Regular Savings Fund - Balanced Plan)

The primary investment objective of this option is to generate consistent returns and appreciation of capital by investing in mix of securities comprising of Equity, Equity related instruments & fixed income instruments.

Research Highlights for Nippon India Equity Hybrid Fund

Lower mid AUM (₹4,014 Cr).
Established history (21+ yrs).
Rating: 4★ (lower mid).
Risk profile: Moderately High.
5Y return: 11.71% (upper mid).
3Y return: 11.12% (upper mid).
1Y return: 1.75% (bottom quartile).
1M return: 0.99% (upper mid).
Alpha: 0.80 (lower mid).
Sharpe: -0.33 (bottom quartile).
Information ratio: 0.63 (upper mid).

Below is the key information for Nippon India Equity Hybrid Fund

Nippon India Equity Hybrid Fund Growth
Launch Date	8 Jun 05
NAV (21 Jul 26)	₹106.929 ↑ 0.12 (0.11 %)
Net Assets (Cr)	₹4,014 on 30 Jun 26
Category	Hybrid - Hybrid Equity
AMC	Nippon Life Asset Management Ltd.
Rating	☆☆☆☆
Risk	Moderately High
Expense Ratio	1.98
Sharpe Ratio	-0.33
Information Ratio	0.63
Alpha Ratio	0.8
Min Investment	500
Min SIP Investment	100
Exit Load	0-12 Months (1%),12 Months and above(NIL)

Growth of 10,000 investment over the years.

Date	Value
30 Jun 21	₹10,000
30 Jun 22	₹9,960
30 Jun 23	₹12,267
30 Jun 24	₹15,918
30 Jun 25	₹16,973
30 Jun 26	₹17,080

Nippon India Equity Hybrid Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹405,518.
Net Profit of ₹105,518 Invest Now

Returns for Nippon India Equity Hybrid Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 21 Jul 26

Duration	Returns
1 Month	1%
3 Month	0.5%
6 Month	2.5%
1 Year	1.8%
3 Year	11.1%
5 Year	11.7%
10 Year
15 Year
Since launch	11.9%

Historical performance (Yearly) on absolute basis

Year	Returns
2025	6.1%
2024	16.1%
2023	24.1%
2022	6.6%
2021	27.8%
2020	-5.3%
2019	3%
2018	-4.9%
2017	29.5%
2016	4.2%

Fund Manager information for Nippon India Equity Hybrid Fund

Name	Since	Tenure
Meenakshi Dawar	10 Sep 21	4.81 Yr.
Kinjal Desai	25 May 18	8.1 Yr.
Sushil Budhia	1 Feb 20	6.41 Yr.
Amber Singhania	11 Mar 26	0.3 Yr.

Data below for Nippon India Equity Hybrid Fund as on 30 Jun 26

Asset Allocation

Asset Class	Value
Cash	3.97%
Equity	79.1%
Debt	16.91%

Equity Sector Allocation

Sector	Value
Financial Services	23.28%
Industrials	10.6%
Consumer Cyclical	10.25%
Technology	5.75%
Health Care	5.39%
Utility	5.18%
Energy	3.99%
Communication Services	3.96%
Consumer Defensive	3.84%
Real Estate	3.46%
Basic Materials	3.42%

Debt Sector Allocation

Sector	Value
Corporate	12.45%
Government	4.48%
Cash Equivalent	3.97%

Credit Quality

Rating	Value
A	3.44%
AA	47.47%
AAA	49.09%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
HDFC Bank Ltd (Financial Services) Equity, Since 31 Jul 10 \| HDFCBANK	5%	₹184 Cr	2,474,712
ICICI Bank Ltd (Financial Services) Equity, Since 30 Apr 12 \| ICICIBANK	4%	₹177 Cr	1,406,000 ↑ 120,000
Larsen & Toubro Ltd (Industrials) Equity, Since 28 Feb 13 \| LT	4%	₹145 Cr	354,838
Bharti Airtel Ltd (Communication Services) Equity, Since 31 Dec 19 \| BHARTIARTL	4%	₹143 Cr	779,642
Axis Bank Ltd (Financial Services) Equity, Since 30 Sep 18 \| AXISBANK	3%	₹120 Cr	933,200
NTPC Ltd (Utilities) Equity, Since 31 Aug 20 \| NTPC	3%	₹108 Cr	2,800,620
Reliance Industries Ltd (Energy) Equity, Since 31 Jul 14 \| RELIANCE	3%	₹106 Cr	806,000
Mahindra & Mahindra Ltd (Consumer Cyclical) Equity, Since 31 Aug 20 \| M&M	2%	₹73 Cr	241,312
Bajaj Finance Ltd (Financial Services) Equity, Since 30 Sep 21 \| BAJFINANCE	2%	₹72 Cr	797,830
State Bank of India (Financial Services) Equity, Since 31 Jul 16 \| SBIN	2%	₹70 Cr	730,000

3. Nippon India Hybrid Bond Fund

(Erstwhile Reliance Monthly Income Plan)

The primary investment objective of the Scheme is to generate regular income in order to make regular dividend payments to unit holders and the secondary objective is growth of capital.

Research Highlights for Nippon India Hybrid Bond Fund

Bottom quartile AUM (₹967 Cr).
Oldest track record among peers (22 yrs).
Rating: 3★ (bottom quartile).
Risk profile: Moderate.
5Y return: 7.89% (lower mid).
3Y return: 7.98% (lower mid).
1Y return: 6.38% (upper mid).
1M return: 0.89% (lower mid).
Alpha: 1.68 (upper mid).
Sharpe: 0.22 (lower mid).
Information ratio: 0.04 (lower mid).

Below is the key information for Nippon India Hybrid Bond Fund

Nippon India Hybrid Bond Fund Growth
Launch Date	29 Dec 03
NAV (21 Jul 26)	₹61.7859 ↑ 0.02 (0.04 %)
Net Assets (Cr)	₹967 on 30 Jun 26
Category	Hybrid - Hybrid Debt
AMC	Nippon Life Asset Management Ltd.
Rating	☆☆☆
Risk	Moderate
Expense Ratio	1.9
Sharpe Ratio	0.22
Information Ratio	0.04
Alpha Ratio	1.68
Min Investment	5,000
Min SIP Investment	100
Exit Load	0-12 Months (1%),12 Months and above(NIL)

Growth of 10,000 investment over the years.

Date	Value
30 Jun 21	₹10,000
30 Jun 22	₹10,499
30 Jun 23	₹11,588
30 Jun 24	₹12,657
30 Jun 25	₹13,760
30 Jun 26	₹14,628

Nippon India Hybrid Bond Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹367,070.
Net Profit of ₹67,070 Invest Now

Returns for Nippon India Hybrid Bond Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 21 Jul 26

Duration	Returns
1 Month	0.9%
3 Month	1.6%
6 Month	3%
1 Year	6.4%
3 Year	8%
5 Year	7.9%
10 Year
15 Year
Since launch	8.4%

Historical performance (Yearly) on absolute basis

Year	Returns
2025	9.7%
2024	7.8%
2023	10.2%
2022	4.8%
2021	10.1%
2020	-8.5%
2019	2.8%
2018	4%
2017	9.3%
2016	9.2%

Fund Manager information for Nippon India Hybrid Bond Fund

Name	Since	Tenure
Dhrumil Shah	10 Sep 21	4.81 Yr.
Kinjal Desai	29 Dec 03	22.52 Yr.
Sushil Budhia	1 Feb 20	6.41 Yr.
Akshay Sharma	1 Dec 22	3.58 Yr.
Amber Singhania	11 Mar 26	0.3 Yr.

Data below for Nippon India Hybrid Bond Fund as on 30 Jun 26

Asset Allocation

Asset Class	Value
Cash	7.47%
Equity	17.97%
Debt	73.63%
Other	0.93%

Equity Sector Allocation

Sector	Value
Real Estate	5.41%
Financial Services	4.45%
Industrials	1.68%
Consumer Cyclical	1.46%
Energy	1.06%
Basic Materials	0.92%
Technology	0.86%
Consumer Defensive	0.71%
Health Care	0.59%
Communication Services	0.5%
Utility	0.34%

Debt Sector Allocation

Sector	Value
Corporate	64%
Government	9.62%
Cash Equivalent	7.47%

Credit Quality

Rating	Value
A	23.28%
AA	45.45%
AAA	31.27%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
7.03% Tamilnadu SDL 2030 Sovereign Bonds \| -	5%	₹50 Cr	5,000,000
Triumph Composites Private Limited Debentures \| -	4%	₹40 Cr	4,000
Delhi International Airport Limited Debentures \| -	4%	₹37 Cr	3,600
Aditya Birla Real Estate Limited Debentures \| -	4%	₹35 Cr	3,500
GMR Airports Limited Debentures \| -	3%	₹33 Cr	3,200
GAursons India Private Limited Debentures \| -	3%	₹33 Cr	3,300
Auxilo Finserve Private Limited Debentures \| -	3%	₹30 Cr	3,000
Muthoot Fincorp Limited Debentures \| -	3%	₹30 Cr	30,000
Navi Finserv Limited Debentures \| -	3%	₹30 Cr	30,000
Suryapet Khammam Road Limited Debentures \| -	3%	₹28 Cr	3,862

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Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.