April 4, 2026
RA Jainee
Tata India Innovation Fund
| Fund at a Glance | |
| NAV Growth (Rs.) | 8.66 |
| NAV Bonus (Rs.) | — |
| NAV IDCW (Rs.) | 8.66 |
| Min. Investment (Rs.) | 5,000 |
| Min. SIP Investment (Rs.) | 100 |
| Min. No of Cheques | 12 |
| Benchmark | NIFTY 500 TRI |
| AUM Rs. | 1,439 Cr |
| (As on 28-Feb-2026) | |
| Expense | 0.68% |
| 1 Year Return (%) | -3.19 |
| 3 Year Return (%) | — |
| 5 Year Return (%) | — |
| 10 Year Return (%) | — |
| Return Since Launch | -10.14% |
⚖️ Sahifund Review – Tata India Innovation Fund ✔
✓ PLUS: Tata India Innovation Fund does offer one meaningful attraction — it gives investors access to an emerging innovation-led theme through a reasonably diversified portfolio of 58 stocks, which is healthier than many concentrated thematic funds. The fund also comes with a fairly reasonable expense ratio of 0.68%, which is acceptable for an actively managed thematic strategy. Backed by the credibility of Tata Mutual Fund, it carries institutional comfort for long-term investors. The portfolio is also relatively balanced across large-cap (48.86%) and small-cap (35.67%) exposure, giving it both stability and growth potential. For SIP investors who want a tactical play on India’s evolving innovation and disruption stories, the fund can still have thematic relevance.
⚖️ MINUS: The real issue is performance — and right now it is simply not convincing enough. The fund has delivered a negative 1-year return of -3.19% and a negative return since launch (-10.14%), which makes it difficult to call it a strong pick at this stage. It also lags stronger innovation-oriented peers like ICICI Pru Innovation, Nippon India Innovation and especially Kotak Pioneer. Since it was launched only in November 2024, there is no long-term track record yet to judge how the strategy performs across different cycles. The turnover of 53.32% also indicates active portfolio churn, while the P/E of 28.46 suggests valuations are not exactly cheap. As a thematic innovation fund, it naturally carries higher volatility and execution risk than diversified equity funds.
Sahifund View (Decisive Line):
Interesting theme, but weak execution so far — best avoided as a core holding and considered only as a small high-risk SIP allocation if you strongly believe in the innovation theme.
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| NFO Guidance |
What lies ahead? Below we decode returns consistency, portfolio concentration, peer positioning and risk profile in detail.
Suitable For Which Investors?
Innovation funds are suitable for investors:
1. Seeking exposure in a diversified set of stocks with a focus on innovation theme for high returns
2. Aiming for long term wealth creation
3. With a 5+ year investment horizon
4. Who are at ease with the market’s ups and downs
Note:
• Invest only through SIP
Fund’s Investment Strategy:
The scheme seeks to provide investors with opportunities for long term capital appreciation by investing in equity and equity related instruments of companies that seeks to benefit from adoption of innovative strategies & theme.
Fund Manager:
1) Hasmukh Vishariya
Education: Chartered Accountant
Experience: Prior to joining Tata MF he was associated with Star Union Dai-Ichi Life Insurance Ltd,
2) Meeta Shetty
Education: Ms. Shetty is Bachelor in Economics and CFA Charterholder
Experience: Prior to joining TATA Mutual Fund, she has worked with Kotak Securities, HDFC Securities, AMSEC(Asian Market Securities), Dalal & Broacha Stock Broking and karvey Stock Broking.
Investment Details
| Min. Investment (Rs) | 5,000 |
| Min. Addl Investment (Rs) | 1,000 |
| Min. SIP Investment (Rs) | 100 |
| Min. Withdrawal (Rs) | 500 |
| Min. No of Cheques | 12 |
| Min. Balance (Rs) | — |
| Lock-in Period | NA |
| Exit Load | 0.5% for redemption within 30 days |
Basic Details of Tata India Innovation Fund
| Fund House | Tata Mutual Fund |
| Launch Date | 28-Nov-24 |
| Return Since Launch | -10.14% |
| Benchmark | NIFTY 500 TRI |
| Riskometer | Very High |
| Type | Open-ended |
| Assets | 1,439 Cr |
| (As on 28-Feb-2026) | |
| Expense | 0.68% |
| (As on 31-Mar-2026) | |
| Risk Grade | — |
| Return Grade | — |
| Turnover | 53.32% |
Tata India Innovation Fund Returns
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Tata India Innovation Dir | -13.88 | -0.28 | -6.43 | -14.43 | -12.02 | -3.19 | — | — | — | — |
| BSE 500 TRI | -12.19 | 0.08 | -8.27 | -13.01 | -8.54 | -0.79 | — | — | — | — |
| Equity: Thematic-Innovation | -12.22 | -0.21 | -4.95 | -12.92 | -11.46 | 0.78 | — | — | — | — |
| Rank within category | 8 | 7 | 10 | 8 | 5 | 7 | — | — | — | — |
| Number of funds in category | 10 | 11 | 11 | 10 | 10 | 9 | 1 | 1 | 0 | 0 |
Peer Comparison of Tata India Innovation Fund
| Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age | Turnover (%) | |
| Tata India Innovation Dir | Unrated | -3.19 | — | — | 0.68 | 1,439 | -10.14 | 0.50 (30) | 1Y 4M | 53.32 |
| ICICI Pru Innovation Dir | Unrated | 2.55 | — | — | 0.76 | 7,487 | 20.60 | 1.00 (365) | 2Y 11M | 123.00 |
| SBI Innovative Opportunities Dir | Unrated | -3.28 | — | — | 0.96 | 4,969 | -9.80 | 1.00 (30) | 1Y 7M | 37.00 |
| Kotak Pioneer Dir | Unrated | 9.03 | 20.32 | 15.36 | 0.47 | 3,318 | 19.96 | 0.50 (90) | 6Y 5M | 10.52 |
| Nippon India Innovation Dir | Unrated | 0.42 | — | — | 0.69 | 2,755 | 10.61 | 1.00 (365) | 2Y 7M | 47.00 |
Tata India Innovation Fund Portfolio
| No. of Stocks | 58 |
| Top 10 Stocks | 35.23% |
| Top 5 Stocks | 20.56% |
| Top 3 Sectors | 58.58% |
| Portfolio P/B Ratio | 3.86 |
| Portfolio P/E Ratio | 28.46 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 1,01,391 | 76,772 |
| Giant (%) | — | — |
| Large (%) | 48.86 | 34.29 |
| Mid (%) | 15.48 | 28.97 |
| Small (%) | 35.67 | 36.73 |
| Tiny (%) | — | — |
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
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