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

Updated on February 6, 2026 , 5849 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 (%)	2024 (%)
Nippon India Equity Hybrid Fund Growth	₹106.637 ↑ 0.06	₹4,102	0	3.2	8.6	15.2	14	6.1
Nippon India Arbitrage Fund Growth	₹27.4824 ↑ 0.02	₹16,393	1.6	2.9	6.2	6.9	5.8	6.2
Nippon India Hybrid Bond Fund Growth	₹60.399 ↓ 0.00	₹933	1.6	4.1	9.2	9.2	8.4	9.7
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 6 Feb 26

Research Highlights & Commentary of 3 Funds showcased

Commentary	Nippon India Equity Hybrid Fund	Nippon India Arbitrage Fund	Nippon India Hybrid Bond Fund
Point 1	Lower mid AUM (₹4,102 Cr).	Highest AUM (₹16,393 Cr).	Bottom quartile AUM (₹933 Cr).
Point 2	Established history (20+ yrs).	Established history (15+ 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 High.	Risk profile: Moderately Low.	Risk profile: Moderate.
Point 5	5Y return: 14.01% (upper mid).	5Y return: 5.83% (bottom quartile).	5Y return: 8.37% (lower mid).
Point 6	3Y return: 15.23% (upper mid).	3Y return: 6.90% (bottom quartile).	3Y return: 9.21% (lower mid).
Point 7	1Y return: 8.64% (lower mid).	1Y return: 6.18% (bottom quartile).	1Y return: 9.20% (upper mid).
Point 8	1M return: -1.38% (bottom quartile).	1M return: 0.56% (upper mid).	1M return: 0.17% (lower mid).
Point 9	Alpha: -2.45 (bottom quartile).	Alpha: 0.00 (lower mid).	Alpha: 2.82 (upper mid).
Point 10	Sharpe: 0.05 (bottom quartile).	Sharpe: 0.39 (lower mid).	Sharpe: 1.77 (upper mid).

Nippon India Equity Hybrid Fund

Lower mid AUM (₹4,102 Cr).
Established history (20+ yrs).
Top rated.
Risk profile: Moderately High.
5Y return: 14.01% (upper mid).
3Y return: 15.23% (upper mid).
1Y return: 8.64% (lower mid).
1M return: -1.38% (bottom quartile).
Alpha: -2.45 (bottom quartile).
Sharpe: 0.05 (bottom quartile).

Nippon India Arbitrage Fund

Highest AUM (₹16,393 Cr).
Established history (15+ yrs).
Rating: 4★ (lower mid).
Risk profile: Moderately Low.
5Y return: 5.83% (bottom quartile).
3Y return: 6.90% (bottom quartile).
1Y return: 6.18% (bottom quartile).
1M return: 0.56% (upper mid).
Alpha: 0.00 (lower mid).
Sharpe: 0.39 (lower mid).

Nippon India Hybrid Bond Fund

Bottom quartile AUM (₹933 Cr).
Oldest track record among peers (22 yrs).
Rating: 3★ (bottom quartile).
Risk profile: Moderate.
5Y return: 8.37% (lower mid).
3Y return: 9.21% (lower mid).
1Y return: 9.20% (upper mid).
1M return: 0.17% (lower mid).
Alpha: 2.82 (upper mid).
Sharpe: 1.77 (upper 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 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 (₹4,102 Cr).
Established history (20+ yrs).
Top rated.
Risk profile: Moderately High.
5Y return: 14.01% (upper mid).
3Y return: 15.23% (upper mid).
1Y return: 8.64% (lower mid).
1M return: -1.38% (bottom quartile).
Alpha: -2.45 (bottom quartile).
Sharpe: 0.05 (bottom quartile).
Information ratio: 0.92 (upper mid).
Top sector: Financial Services.
Top bond sector: Corporate.
Equity-heavy allocation (~78%).
High-quality debt (AAA/AA ~97%).
Largest holding HDFC Bank Ltd (~5.7%).

Below is the key information for Nippon India Equity Hybrid Fund

Nippon India Equity Hybrid Fund Growth
Launch Date	8 Jun 05
NAV (06 Feb 26)	₹106.637 ↑ 0.06 (0.06 %)
Net Assets (Cr)	₹4,102 on 31 Dec 25
Category	Hybrid - Hybrid Equity
AMC	Nippon Life Asset Management Ltd.
Rating	☆☆☆☆
Risk	Moderately High
Expense Ratio	1.98
Sharpe Ratio	0.05
Information Ratio	0.92
Alpha Ratio	-2.45
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
31 Jan 21	₹10,000
31 Jan 22	₹12,902
31 Jan 23	₹13,467
31 Jan 24	₹17,173
31 Jan 25	₹18,942
31 Jan 26	₹20,468

Nippon India Equity Hybrid Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹436,710.
Net Profit of ₹136,710 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 6 Feb 26

Duration	Returns
1 Month	-1.4%
3 Month	0%
6 Month	3.2%
1 Year	8.6%
3 Year	15.2%
5 Year	14%
10 Year
15 Year
Since launch	12.1%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	6.1%
2023	16.1%
2022	24.1%
2021	6.6%
2020	27.8%
2019	-5.3%
2018	3%
2017	-4.9%
2016	29.5%
2015	4.2%

Fund Manager information for Nippon India Equity Hybrid Fund

Name	Since	Tenure
Meenakshi Dawar	10 Sep 21	4.31 Yr.
Kinjal Desai	25 May 18	7.61 Yr.
Sushil Budhia	1 Feb 20	5.92 Yr.
Lokesh Maru	5 Sep 25	0.32 Yr.
Divya Sharma	5 Sep 25	0.32 Yr.

Data below for Nippon India Equity Hybrid Fund as on 31 Dec 25

Asset Allocation

Asset Class	Value
Cash	3.18%
Equity	77.85%
Debt	18.96%

Equity Sector Allocation

Sector	Value
Financial Services	23.7%
Consumer Cyclical	9.87%
Industrials	9.21%
Technology	6.73%
Health Care	4.68%
Real Estate	4.34%
Communication Services	4.29%
Utility	4.03%
Energy	3.97%
Consumer Defensive	3.76%
Basic Materials	3.23%

Debt Sector Allocation

Sector	Value
Corporate	11.22%
Government	7.76%
Cash Equivalent	3.18%

Credit Quality

Rating	Value
A	3.11%
AA	40.42%
AAA	56.47%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
HDFC Bank Ltd (Financial Services) Equity, Since 31 Jul 10 \| HDFCBANK	6%	₹234 Cr	2,364,712
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	3%	₹134 Cr	635,000
ICICI Bank Ltd (Financial Services) Equity, Since 30 Apr 12 \| 532174	3%	₹127 Cr	946,000
Reliance Industries Ltd (Energy) Equity, Since 31 Jul 14 \| RELIANCE	3%	₹127 Cr	806,000
Axis Bank Ltd (Financial Services) Equity, Since 30 Sep 18 \| 532215	3%	₹118 Cr	933,200
Infosys Ltd (Technology) Equity, Since 28 Feb 11 \| INFY	3%	₹108 Cr	670,896 ↓ -59,104
State Bank of India (Financial Services) Equity, Since 31 Jul 16 \| SBIN	2%	₹99 Cr	1,010,000
NTPC Ltd (Utilities) Equity, Since 31 Aug 20 \| 532555	2%	₹92 Cr	2,800,620
Mahindra & Mahindra Ltd (Consumer Cyclical) Equity, Since 31 Aug 20 \| M&M	2%	₹87 Cr	235,000

2. 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 (₹16,393 Cr).
Established history (15+ yrs).
Rating: 4★ (lower mid).
Risk profile: Moderately Low.
5Y return: 5.83% (bottom quartile).
3Y return: 6.90% (bottom quartile).
1Y return: 6.18% (bottom quartile).
1M return: 0.56% (upper mid).
Alpha: 0.00 (lower mid).
Sharpe: 0.39 (lower mid).
Information ratio: 0.00 (bottom quartile).
Top sector: Financial Services.
Higher exposure to Cash Equivalent (bond sector) vs peer median.
Conservative stance with elevated cash (~94%).
High-quality debt (AAA/AA ~100%).
Largest holding Nippon India Money Market Dir Gr (~9.8%).

Below is the key information for Nippon India Arbitrage Fund

Nippon India Arbitrage Fund Growth
Launch Date	14 Oct 10
NAV (06 Feb 26)	₹27.4824 ↑ 0.02 (0.08 %)
Net Assets (Cr)	₹16,393 on 31 Dec 25
Category	Hybrid - Arbitrage
AMC	Nippon Life Asset Management Ltd.
Rating	☆☆☆☆
Risk	Moderately Low
Expense Ratio	1.07
Sharpe Ratio	0.39
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
31 Jan 21	₹10,000
31 Jan 22	₹10,412
31 Jan 23	₹10,843
31 Jan 24	₹11,659
31 Jan 25	₹12,502
31 Jan 26	₹13,271

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 6 Feb 26

Duration	Returns
1 Month	0.6%
3 Month	1.6%
6 Month	2.9%
1 Year	6.2%
3 Year	6.9%
5 Year	5.8%
10 Year
15 Year
Since launch	6.8%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	6.2%
2023	7.5%
2022	7%
2021	4.2%
2020	3.8%
2019	4.3%
2018	6.2%
2017	6.8%
2016	5.5%
2015	6.6%

Fund Manager information for Nippon India Arbitrage Fund

Name	Since	Tenure
Vikash Agarwal	14 Sep 24	1.3 Yr.
Nemish Sheth	21 Mar 25	0.78 Yr.
Rohit Shah	8 Apr 24	1.73 Yr.
Lokesh Maru	5 Sep 25	0.32 Yr.
Divya Sharma	5 Sep 25	0.32 Yr.

Data below for Nippon India Arbitrage Fund as on 31 Dec 25

Asset Allocation

Asset Class	Value
Cash	93.6%
Debt	6.76%
Other	0.04%

Equity Sector Allocation

Sector	Value
Financial Services	21.75%
Basic Materials	12.68%
Consumer Cyclical	7.35%
Industrials	6.52%
Energy	4.98%
Health Care	4.95%
Consumer Defensive	4.82%
Technology	4.58%
Communication Services	4.42%
Utility	2.35%
Real Estate	1.59%

Debt Sector Allocation

Sector	Value
Cash Equivalent	88.13%
Corporate	10.32%
Government	1.92%

Credit Quality

Rating	Value
AA	70.59%
AAA	29.41%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Nippon India Money Market Dir Gr Investment Fund \| -	10%	₹1,600 Cr	3,682,789
Nippon India U/ST Duration Dir Gr Investment Fund \| -	6%	₹968 Cr	2,108,547
Future on Reliance Industries Ltd Derivatives \| -	4%	-₹577 Cr	3,654,000 ↑ 3,654,000
Future on ICICI Bank Ltd Derivatives \| -	4%	-₹574 Cr	4,252,500 ↑ 4,252,500
Reliance Industries Ltd (Energy) Equity, Since 31 Dec 17 \| RELIANCE	4%	₹574 Cr	3,654,000 ↓ -279,000
ICICI Bank Ltd (Financial Services) Equity, Since 31 Oct 24 \| 532174	3%	₹571 Cr	4,252,500 ↑ 656,600
HDFC Bank Ltd (Financial Services) Equity, Since 31 Jan 23 \| HDFCBANK	3%	₹511 Cr	5,159,000 ↑ 727,100
Hdfc Bank Limited_27/01/2026 Derivatives \| -	3%	-₹490 Cr	4,912,050 ↑ 4,912,050
Future on Bharti Airtel Ltd Derivatives \| -	2%	-₹356 Cr	1,680,075 ↑ 1,680,075
Bharti Airtel Ltd (Communication Services) Equity, Since 31 Oct 23 \| BHARTIARTL	2%	₹354 Cr	1,680,075 ↑ 315,400

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 (₹933 Cr).
Oldest track record among peers (22 yrs).
Rating: 3★ (bottom quartile).
Risk profile: Moderate.
5Y return: 8.37% (lower mid).
3Y return: 9.21% (lower mid).
1Y return: 9.20% (upper mid).
1M return: 0.17% (lower mid).
Alpha: 2.82 (upper mid).
Sharpe: 1.77 (upper mid).
Information ratio: 0.13 (lower mid).
Top sector: Financial Services.
Higher exposure to Corporate (bond sector) vs peer median.
Debt-heavy allocation (~77%).
High-quality debt (AAA/AA ~71%).
Largest holding 07.03 Tn SDL 2030 (~5.4%).

Below is the key information for Nippon India Hybrid Bond Fund

Nippon India Hybrid Bond Fund Growth
Launch Date	29 Dec 03
NAV (06 Feb 26)	₹60.399 ↓ 0.00 (0.00 %)
Net Assets (Cr)	₹933 on 31 Dec 25
Category	Hybrid - Hybrid Debt
AMC	Nippon Life Asset Management Ltd.
Rating	☆☆☆
Risk	Moderate
Expense Ratio	1.9
Sharpe Ratio	1.77
Information Ratio	0.13
Alpha Ratio	2.82
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
31 Jan 21	₹10,000
31 Jan 22	₹11,037
31 Jan 23	₹11,521
31 Jan 24	₹12,744
31 Jan 25	₹13,742
31 Jan 26	₹14,979

Nippon India Hybrid Bond Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹376,357.
Net Profit of ₹76,357 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 6 Feb 26

Duration	Returns
1 Month	0.2%
3 Month	1.6%
6 Month	4.1%
1 Year	9.2%
3 Year	9.2%
5 Year	8.4%
10 Year
15 Year
Since launch	8.5%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	9.7%
2023	7.8%
2022	10.2%
2021	4.8%
2020	10.1%
2019	-8.5%
2018	2.8%
2017	4%
2016	9.3%
2015	9.2%

Fund Manager information for Nippon India Hybrid Bond Fund

Name	Since	Tenure
Dhrumil Shah	10 Sep 21	4.31 Yr.
Kinjal Desai	29 Dec 03	22.02 Yr.
Sushil Budhia	1 Feb 20	5.92 Yr.
Akshay Sharma	1 Dec 22	3.09 Yr.
Lokesh Maru	5 Sep 25	0.32 Yr.
Divya Sharma	5 Sep 25	0.32 Yr.

Data below for Nippon India Hybrid Bond Fund as on 31 Dec 25

Asset Allocation

Asset Class	Value
Cash	3.45%
Equity	18.86%
Debt	77.42%
Other	0.27%

Equity Sector Allocation

Sector	Value
Financial Services	4.96%
Real Estate	4.83%
Industrials	1.64%
Consumer Cyclical	1.58%
Technology	1.29%
Energy	1.26%
Basic Materials	0.94%
Consumer Defensive	0.85%
Communication Services	0.6%
Health Care	0.58%
Utility	0.32%

Debt Sector Allocation

Sector	Value
Corporate	63.8%
Government	13.62%
Cash Equivalent	3.45%

Credit Quality

Rating	Value
A	29.22%
AA	46.43%
AAA	24.34%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
07.03 Tn SDL 2030 Sovereign Bonds \| -	5%	₹50 Cr	5,000,000
Aditya Birla Real Estate Limited Debentures \| -	4%	₹36 Cr	3,500
GMR Airports Limited Debentures \| -	3%	₹33 Cr	3,200
7.1% Govt Stock 2029 Sovereign Bonds \| -	3%	₹31 Cr	3,000,000
Renserv Global Private Limited Debentures \| -	3%	₹30 Cr	3,000
Gaursons India Pvt Ltd. 10.96% Debentures \| -	3%	₹30 Cr	3,000 ↑ 3,000
Navi Finserv Limited Debentures \| -	3%	₹30 Cr	30,000 ↑ 30,000
Suryapet Khammam Road Private Limited Debentures \| -	3%	₹28 Cr	3,862
Mancherial Repallewada Road Private Limited Debentures \| -	3%	₹27 Cr	3,400
Delhi International Airport Limited Debentures \| -	3%	₹27 Cr	2,600

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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.