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

Updated on February 25, 2026 , 5867 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	₹106.377 ↓ -0.92	₹4,025	-1.7	2.4	13.1	15.8	13.8	6.1
Nippon India Arbitrage Fund Growth	₹27.5612 ↑ 0.01	₹16,390	1.6	3	6.1	6.9	5.8	6.2
Nippon India Balanced Advantage Fund Growth	₹180.073 ↓ -1.23	₹9,598	-1.1	2.5	10.8	13	10.7	7.3
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 27 Feb 26

Research Highlights & Commentary of 3 Funds showcased

Commentary	Nippon India Equity Hybrid Fund	Nippon India Arbitrage Fund	Nippon India Balanced Advantage Fund
Point 1	Bottom quartile AUM (₹4,025 Cr).	Highest AUM (₹16,390 Cr).	Lower mid AUM (₹9,598 Cr).
Point 2	Established history (20+ yrs).	Established history (15+ yrs).	Oldest track record among peers (21 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: Moderately High.
Point 5	5Y return: 13.83% (upper mid).	5Y return: 5.84% (bottom quartile).	5Y return: 10.71% (lower mid).
Point 6	3Y return: 15.82% (upper mid).	3Y return: 6.90% (bottom quartile).	3Y return: 12.99% (lower mid).
Point 7	1Y return: 13.07% (upper mid).	1Y return: 6.12% (bottom quartile).	1Y return: 10.79% (lower mid).
Point 8	1M return: 2.01% (lower mid).	1M return: 0.63% (bottom quartile).	1M return: 2.04% (upper mid).
Point 9	Alpha: 0.23 (upper mid).	Alpha: 0.00 (lower mid).	Alpha: 0.00 (bottom quartile).
Point 10	Sharpe: 0.25 (lower mid).	Sharpe: 0.58 (upper mid).	Sharpe: 0.12 (bottom quartile).

Nippon India Equity Hybrid Fund

Bottom quartile AUM (₹4,025 Cr).
Established history (20+ yrs).
Top rated.
Risk profile: Moderately High.
5Y return: 13.83% (upper mid).
3Y return: 15.82% (upper mid).
1Y return: 13.07% (upper mid).
1M return: 2.01% (lower mid).
Alpha: 0.23 (upper mid).
Sharpe: 0.25 (lower mid).

Nippon India Arbitrage Fund

Highest AUM (₹16,390 Cr).
Established history (15+ yrs).
Rating: 4★ (lower mid).
Risk profile: Moderately Low.
5Y return: 5.84% (bottom quartile).
3Y return: 6.90% (bottom quartile).
1Y return: 6.12% (bottom quartile).
1M return: 0.63% (bottom quartile).
Alpha: 0.00 (lower mid).
Sharpe: 0.58 (upper mid).

Nippon India Balanced Advantage Fund

Lower mid AUM (₹9,598 Cr).
Oldest track record among peers (21 yrs).
Rating: 3★ (bottom quartile).
Risk profile: Moderately High.
5Y return: 10.71% (lower mid).
3Y return: 12.99% (lower mid).
1Y return: 10.79% (lower mid).
1M return: 2.04% (upper mid).
Alpha: 0.00 (bottom quartile).
Sharpe: 0.12 (bottom quartile).

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

Bottom quartile AUM (₹4,025 Cr).
Established history (20+ yrs).
Top rated.
Risk profile: Moderately High.
5Y return: 13.83% (upper mid).
3Y return: 15.82% (upper mid).
1Y return: 13.07% (upper mid).
1M return: 2.01% (lower mid).
Alpha: 0.23 (upper mid).
Sharpe: 0.25 (lower mid).
Information ratio: 0.81 (upper mid).
Top sector: Financial Services.
Top bond sector: Corporate.
Equity-heavy allocation (~79%).
High-quality debt (AAA/AA ~97%).
Largest holding HDFC Bank Ltd (~5.5%).

Below is the key information for Nippon India Equity Hybrid Fund

Nippon India Equity Hybrid Fund Growth
Launch Date	8 Jun 05
NAV (27 Feb 26)	₹106.377 ↓ -0.92 (-0.85 %)
Net Assets (Cr)	₹4,025 on 31 Jan 26
Category	Hybrid - Hybrid Equity
AMC	Nippon Life Asset Management Ltd.
Rating	☆☆☆☆
Risk	Moderately High
Expense Ratio	1.98
Sharpe Ratio	0.25
Information Ratio	0.81
Alpha Ratio	0.23
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 ₹426,080.
Net Profit of ₹126,080 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 27 Feb 26

Duration	Returns
1 Month	2%
3 Month	-1.7%
6 Month	2.4%
1 Year	13.1%
3 Year	15.8%
5 Year	13.8%
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	4.4 Yr.
Kinjal Desai	25 May 18	7.7 Yr.
Sushil Budhia	1 Feb 20	6.01 Yr.
Lokesh Maru	5 Sep 25	0.41 Yr.
Divya Sharma	5 Sep 25	0.41 Yr.

Data below for Nippon India Equity Hybrid Fund as on 31 Jan 26

Asset Allocation

Asset Class	Value
Cash	3.18%
Equity	79.07%
Debt	17.74%

Equity Sector Allocation

Sector	Value
Financial Services	24.08%
Consumer Cyclical	9.89%
Industrials	9.32%
Technology	7.23%
Utility	4.89%
Real Estate	4.57%
Health Care	4.46%
Communication Services	4.08%
Energy	3.75%
Consumer Defensive	3.65%
Basic Materials	3.13%

Debt Sector Allocation

Sector	Value
Corporate	11.77%
Government	5.98%
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	5%	₹220 Cr	2,364,712
ICICI Bank Ltd (Financial Services) Equity, Since 30 Apr 12 \| ICICIBANK	4%	₹142 Cr	1,046,000 ↑ 100,000
Larsen & Toubro Ltd (Industrials) Equity, Since 28 Feb 13 \| LT	3%	₹140 Cr	354,838
Axis Bank Ltd (Financial Services) Equity, Since 30 Sep 18 \| AXISBANK	3%	₹128 Cr	933,200
Bharti Airtel Ltd (Communication Services) Equity, Since 31 Dec 19 \| BHARTIARTL	3%	₹125 Cr	635,000
Reliance Industries Ltd (Energy) Equity, Since 31 Jul 14 \| RELIANCE	3%	₹112 Cr	806,000
Infosys Ltd (Technology) Equity, Since 28 Feb 11 \| INFY	3%	₹110 Cr	670,896
State Bank of India (Financial Services) Equity, Since 31 Jul 16 \| SBIN	3%	₹109 Cr	1,010,000
NTPC Ltd (Utilities) Equity, Since 31 Aug 20 \| NTPC	2%	₹100 Cr	2,800,620
Mahindra & Mahindra Ltd (Consumer Cyclical) Equity, Since 31 Aug 20 \| M&M	2%	₹81 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 (₹16,390 Cr).
Established history (15+ yrs).
Rating: 4★ (lower mid).
Risk profile: Moderately Low.
5Y return: 5.84% (bottom quartile).
3Y return: 6.90% (bottom quartile).
1Y return: 6.12% (bottom quartile).
1M return: 0.63% (bottom quartile).
Alpha: 0.00 (lower mid).
Sharpe: 0.58 (upper mid).
Information ratio: 0.00 (lower mid).
Top sector: Financial Services.
Higher exposure to Cash Equivalent (bond sector) vs peer median.
Conservative stance with elevated cash (~93%).
High-quality debt (AAA/AA ~100%).
Largest holding Nippon India Money Market Dir Gr (~10.4%).

Below is the key information for Nippon India Arbitrage Fund

Nippon India Arbitrage Fund Growth
Launch Date	14 Oct 10
NAV (27 Feb 26)	₹27.5612 ↑ 0.01 (0.03 %)
Net Assets (Cr)	₹16,390 on 31 Jan 26
Category	Hybrid - Arbitrage
AMC	Nippon Life Asset Management Ltd.
Rating	☆☆☆☆
Risk	Moderately Low
Expense Ratio	1.07
Sharpe Ratio	0.58
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 27 Feb 26

Duration	Returns
1 Month	0.6%
3 Month	1.6%
6 Month	3%
1 Year	6.1%
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	1.38 Yr.
Nemish Sheth	21 Mar 25	0.87 Yr.
Rohit Shah	8 Apr 24	1.82 Yr.
Lokesh Maru	5 Sep 25	0.41 Yr.
Divya Sharma	5 Sep 25	0.41 Yr.

Data below for Nippon India Arbitrage Fund as on 31 Jan 26

Asset Allocation

Asset Class	Value
Cash	92.91%
Debt	7.29%
Other	0.05%

Equity Sector Allocation

Sector	Value
Financial Services	24.93%
Basic Materials	10.91%
Consumer Cyclical	7.65%
Industrials	6.85%
Health Care	5.09%
Communication Services	4.64%
Consumer Defensive	4.47%
Energy	3.71%
Technology	2.93%
Real Estate	2.17%
Utility	1.49%

Debt Sector Allocation

Sector	Value
Cash Equivalent	87.32%
Corporate	11.49%
Government	1.4%

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%	₹1,705 Cr	3,912,646 ↑ 229,857
Nippon India U/ST Duration Dir Gr Investment Fund \| -	6%	₹972 Cr	2,108,547
HDFC Bank Ltd (Financial Services) Equity, Since 31 Jan 23 \| HDFCBANK	6%	₹909 Cr	9,785,050 ↑ 4,626,050
Hdfc Bank Limited_24/02/2026 Derivatives \| -	4%	-₹693 Cr	7,426,100 ↑ 7,179,150
ICICI Bank Ltd (Financial Services) Equity, Since 31 Oct 24 \| ICICIBANK	4%	₹583 Cr	4,302,200 ↑ 49,700
Reliance Industries Ltd (Energy) Equity, Since 31 Dec 17 \| RELIANCE	3%	₹512 Cr	3,667,000 ↑ 13,000
Axis Bank Limited_24/02/2026 Derivatives \| -	2%	-₹407 Cr	2,963,125 ↑ 2,963,125
Axis Bank Ltd (Financial Services) Equity, Since 31 Jul 23 \| AXISBANK	2%	₹406 Cr	2,963,125 ↑ 277,500
Icici Bank Limited_24/02/2026 Derivatives \| -	2%	-₹382 Cr	2,803,500 ↑ 2,803,500
Bharti Airtel Limited_24/02/2026 Derivatives \| -	2%	-₹365 Cr	1,849,175 ↑ 1,849,175

3. Nippon India Balanced Advantage Fund

(Erstwhile Reliance NRI Equity Fund)

The investment objective of the Scheme is to generate optimal returns by investing in equity or equity related instruments primarily drawn from the Companies in the S&P BSE 200 Index. The Scheme may also invest in listed companies that are in the top 200 by market capitalization on the BSE. The Scheme may also invest in large IPO’s where the market capitalization of the Company making the IPO based on the Issue price would make such company to be a part of the top 200 companies listed on the BSE based on market capitalization. The fund will have the flexibility to invest in a broad range of companies with an objective to maximize the returns, at the same time trying to minimize the risk by reasonable diversification. The selection of the companies will be done so as to capture the growth in the Indian economy. The fund will be focusing on companies with relatively higher market capitalization and having good liquidity in the stock market.

Research Highlights for Nippon India Balanced Advantage Fund

Lower mid AUM (₹9,598 Cr).
Oldest track record among peers (21 yrs).
Rating: 3★ (bottom quartile).
Risk profile: Moderately High.
5Y return: 10.71% (lower mid).
3Y return: 12.99% (lower mid).
1Y return: 10.79% (lower mid).
1M return: 2.04% (upper mid).
Alpha: 0.00 (bottom quartile).
Sharpe: 0.12 (bottom quartile).
Information ratio: 0.00 (bottom quartile).
Top sector: Financial Services.
Top bond sector: Cash Equivalent.
Equity-heavy allocation (~67%).
High-quality debt (AAA/AA ~100%).
Largest holding ICICI Bank Ltd (~5.0%).

Below is the key information for Nippon India Balanced Advantage Fund

Nippon India Balanced Advantage Fund Growth
Launch Date	15 Nov 04
NAV (27 Feb 26)	₹180.073 ↓ -1.23 (-0.68 %)
Net Assets (Cr)	₹9,598 on 31 Jan 26
Category	Hybrid - Dynamic Allocation
AMC	Nippon Life Asset Management Ltd.
Rating	☆☆☆
Risk	Moderately High
Expense Ratio	1.75
Sharpe Ratio	0.12
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	100
Exit Load	0-1 Years (1%),1 Years and above(NIL)

Growth of 10,000 investment over the years.

Date	Value
31 Jan 21	₹10,000
31 Jan 22	₹11,605
31 Jan 23	₹12,067
31 Jan 24	₹14,536
31 Jan 25	₹16,037
31 Jan 26	₹17,100

Nippon India Balanced Advantage Fund SIP Returns

Total investment amount is ₹300,000
expected amount after 5 Years is ₹395,578.
Net Profit of ₹95,578 Invest Now

Returns for Nippon India Balanced Advantage Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 27 Feb 26

Duration	Returns
1 Month	2%
3 Month	-1.1%
6 Month	2.5%
1 Year	10.8%
3 Year	13%
5 Year	10.7%
10 Year
15 Year
Since launch	14.5%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.3%
2023	13%
2022	17.5%
2021	5.1%
2020	15.7%
2019	11.2%
2018	8.3%
2017	0.4%
2016	25.2%
2015	6.4%

Fund Manager information for Nippon India Balanced Advantage Fund

Name	Since	Tenure
Ashutosh Bhargava	7 May 18	7.75 Yr.
Sushil Budhia	31 Mar 21	4.84 Yr.
Bhavik Dave	1 Jan 26	0.08 Yr.

Data below for Nippon India Balanced Advantage Fund as on 31 Jan 26

Asset Allocation

Asset Class	Value
Cash	16.06%
Equity	67.12%
Debt	16.81%

Equity Sector Allocation

Sector	Value
Financial Services	22.83%
Industrials	10.74%
Consumer Cyclical	10.25%
Technology	7.18%
Consumer Defensive	6.32%
Real Estate	5.07%
Utility	3.8%
Energy	3.24%
Health Care	3.08%
Basic Materials	2.88%
Communication Services	2.73%

Debt Sector Allocation

Sector	Value
Cash Equivalent	16.06%
Corporate	9.88%
Government	6.37%
Securitized	0.57%

Credit Quality

Rating	Value
AA	32.55%
AAA	67.45%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
ICICI Bank Ltd (Financial Services) Equity, Since 31 Aug 18 \| ICICIBANK	5%	₹481 Cr	3,550,000 ↑ 750,000
HDFC Bank Ltd (Financial Services) Equity, Since 31 Oct 11 \| HDFCBANK	4%	₹397 Cr	4,270,648
State Bank of India (Financial Services) Equity, Since 31 Mar 09 \| SBIN	4%	₹341 Cr	3,166,879
Infosys Ltd (Technology) Equity, Since 31 May 09 \| INFY	3%	₹294 Cr	1,791,912
Reliance Industries Ltd (Energy) Equity, Since 31 May 18 \| RELIANCE	3%	₹258 Cr	1,850,000
Bharti Airtel Ltd (Communication Services) Equity, Since 31 Aug 18 \| BHARTIARTL	2%	₹236 Cr	1,200,000
Mahindra & Mahindra Ltd (Consumer Cyclical) Equity, Since 30 Nov 21 \| M&M	2%	₹225 Cr	656,709
Axis Bank Ltd (Financial Services) Equity, Since 31 Oct 18 \| AXISBANK	2%	₹218 Cr	1,589,348 ↑ 639,348
NTPC Ltd (Utilities) Equity, Since 31 Mar 21 \| NTPC	2%	₹205 Cr	5,769,300
Larsen & Toubro Ltd (Industrials) Equity, Since 31 Jan 21 \| LT	2%	₹179 Cr	454,017

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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.