Aditya Birla SL CRISIL IBX Gilt Apr 2028 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- August 31, 2026
- Posted by: Harsh Piplani
- Category: Mutual Funds
Aditya Birla SL CRISIL IBX Gilt Apr 2028 Index Fund Direct Growth Plan has a NAV of ₹12.6942 as of 28 Aug 2026 and scheme AUM of ₹21 Cr. Its 1-year, 3-year and 5-year returns are 5.494%, 7.1114% and 0%, and the scheme is tagged Balanced Risk.
Our view is that this is a relatively focused gilt index fund with limited moving parts and a portfolio dominated by government securities. The return pattern is steady rather than exciting, and the longer-term compounding has been modest, so it suits investors who want debt-oriented exposure and can accept that the benchmark relationship may vary across market phases.
Quick facts
| Field | Value |
|---|---|
| NAV | ₹12.6942 |
| AUM | ₹21 Cr |
| Expense Ratio | 0.49% |
| Launch Date | 15 Mar 2023 |
| Min SIP | ₹500 |
| Risk Category | Balanced Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Bhupesh Bameta, Sanjay Godambe |
The fund is managed by Bhupesh Bameta and Sanjay Godambe.
Source data date: as of 28 Aug 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.35% | -0.85% |
| 3M | 1.61% | 3.39% |
| 1Y | 5.49% | -2.29% |
| 3Y | 7.11% | 6.4% |
| 5Y | Data not available | Data not available |
The short-term picture is mixed. Over one month, the fund stayed slightly positive while the benchmark was lower, which tells us the scheme held up better in that window. Over three months, the benchmark recovered more strongly than the fund, so the recent pattern has not been one-way.
The one-year figure is the clearest strength in the table. The fund has delivered a positive 1-year return while the benchmark is still negative, which suggests the scheme has been more resilient over the latest annual period. That is useful for debt investors who value consistency over sharp upside.
At the three-year mark, the fund remains ahead of the benchmark, although the gap is not large. The longer pattern looks steadier than the benchmark’s more uneven recent behaviour, and that supports the idea that the scheme is meant to track a defined gilt segment rather than chase short bursts of performance.
The five-year figure is not available because the fund has not been around long enough for a full five-year return history. That limits long-horizon comparison, so the best read is still the 1-year and 3-year profile. On those measures, the fund has been modestly ahead of the benchmark overall, with the latest year showing the stronger relative stretch.
Source data date: as of 28 Aug 2026
Should you BUY or HOLD Aditya Birla SL CRISIL IBX Gilt Apr 2028 Index?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding Aditya Birla SL CRISIL IBX Gilt Apr 2028 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Aditya Birla SL CRISIL IBX Gilt Apr 2028 Index Fund Direct Growth Plan | 5.494% | 7.1114% | Data not available |
| ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan | 35.235% | 31.2535% | Data not available |
| Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan | 32.3519% | Data not available | Data not available |
| Tata Nifty Capital Markets Index Fund Direct Growth Plan | 32.0816% | Data not available | Data not available |
| Motilal Oswal Nifty India Defence Index Fund Direct Growth Plan | 31.9037% | Data not available | Data not available |
| Aditya Birla SL Nifty India Defence Index Fund Direct Growth Plan | 31.8928% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. The current fund’s 1-year return is much lower than the equity-oriented peer set shown here, which is expected because the comparison funds operate in very different market segments. Its 3-year return is also well below those higher-growth peers, but that does not make the comparison directly interchangeable.
What matters more is the fund’s steadier debt-like profile. Among the peer funds shown, the current scheme’s longer-horizon number is modest and its short-term movement is calmer, so the story here is about stability rather than matching equity-style upside. The 1-year and 3-year comparison therefore point in different directions: the peers have stronger raw returns, while this fund offers a more conservative return pattern.
Source data date: as of 28 Aug 2026
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Portfolio: where your money goes
Market-cap distribution
| Category | Allocation |
|---|---|
| Large Cap | 0% |
| Mid Cap | 0% |
| Small Cap | 0% |
| Other | 100% |
| Sector | Sector allocation | Top holdings |
|---|---|---|
| GOVERNMENT SECURITIES | 95.29% |
|
| CASH & CASH EQUIVALENTS AND NET ASSETS | 4.71% |
|
The portfolio is almost entirely in the “Other” bucket, which is consistent with a gilt-style index fund rather than an equity fund. That means the usual large-cap, mid-cap and small-cap lenses are not meaningful here, because the scheme is not built around company shares.
Government securities account for 95.29% of the portfolio, and that is far larger than the 4.71% held in cash and cash equivalents and net assets. This gap suggests the fund’s behaviour may be driven primarily by sovereign bond pricing, with only a limited cushion sitting in cash-type holdings.
Within the visible holdings, the Government of India securities dominate the scheme and could have the greatest influence on how the fund behaves. The cash and receivables bucket is much smaller, so it is more likely to act as a support segment than a performance driver. Overall, the structure points to a narrow and government-heavy debt profile.
Source data date: as of 28 Aug 2026
Who should invest
This fund may suit investors who want a debt-oriented index allocation and are comfortable with moderate movement rather than very high return swings. The Balanced Risk label and the government-securities-heavy portfolio both point to a profile that is more conservative than equity funds, even though the benchmark relationship can change across periods.
The return history also suggests a medium- to longer-term horizon is more appropriate than a short tactical holding. The 1-year and 3-year figures are positive, but the five-year history is not available, so the clearest read is still on the fund’s recent and medium-term pattern. The trade-off is simple: steadier gilt exposure and limited portfolio complexity, in exchange for returns that are likely to remain more modest than higher-growth alternatives.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load
No exit load.
Source data date: as of 28 Aug 2026
Frequently asked questions
What is the current NAV of Aditya Birla SL CRISIL IBX Gilt Apr 2028 Index Fund Direct Growth Plan?
The current NAV is ₹12.6942 as of 28 Aug 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 5.494%, its 3-year return is 7.1114%, and its 5-year return is Data not available.
How has the fund performed versus the benchmark?
It has done better than the benchmark over 1 year and 3 years. Over 3 months, the benchmark has been ahead, while the 1-month period shows the fund slightly better.
How does it compare with the peer funds shown here?
The peer funds shown here have much stronger raw 1-year returns because they are from very different market segments. This fund’s profile is steadier and more debt-oriented, so the comparison is more about style than direct return matching.
What is the minimum SIP amount?
The minimum SIP amount is ₹500.
Who manages the fund and what does the portfolio look like?
The fund is managed by Bhupesh Bameta and Sanjay Godambe. The portfolio is concentrated in government securities, with 95.29% in that bucket and 4.71% in cash and cash equivalents and net assets.
Bottom line
Aditya Birla SL CRISIL IBX Gilt Apr 2028 Index Fund Direct Growth Plan has a steadier recent and medium-term pattern than its benchmark, with the latest year standing out more clearly than the longer record. It also looks very different from the peer funds shown, which post much higher raw returns but operate in other market segments. The fund’s Balanced Risk label and government-securities-heavy structure make it a focused debt-style holding for investors who value simplicity and are comfortable with more measured outcomes than equity-like upside.
Published on 31 August 2026 at 3:32 PM IST
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RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.
