SBI Retirement Benefit Fund-Aggressive Direct Growth Plan Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 16, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
SBI Retirement Benefit Fund-Aggressive Plan Direct Growth Plan has a NAV of ₹21.1866 as of 15 Sep 2026 and an AUM of ₹3,241 Cr. Its 1-year, 3-year and 5-year returns are 0.14%, 7.38% and 10.79%, respectively, and it sits in the High Risk category. Our view is that the fund suits investors who can tolerate sharp swings and want a retirement-oriented equity strategy with a five-year lock-in, but the recent return pattern remains uneven relative to the benchmark.
The scheme has shown better longer-term compounding than its near-term stretch, yet the one-year result has been almost flat. That mix makes it more suitable for investors with a long horizon who can stay invested through volatility rather than those looking for smooth short-term outcomes.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹21.1866 as of 15 Sep 2026 |
| AUM | ₹3,241 Cr |
| Expense Ratio | 0.92% |
| Launch Date | 10 Feb 2021 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Solution Oriented |
| Exit Load | No exit load |
| Fund Managers | Rohit Shimpi, Ardhendu Bhattacharya |
The fund is managed by Rohit Shimpi and Ardhendu Bhattacharya.
Source data date: as of 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.9% | -4.81% |
| 3M | 0.76% | -3.63% |
| 1Y | 0.14% | -8.27% |
| 3Y | 7.38% | 5.59% |
| 5Y | 10.79% | 5.58% |
The recent pattern is mixed. Over one month the fund fell, but the decline was smaller than the benchmark’s drop, which suggests some relative resilience in a weak stretch. Over three months the fund turned positive while the benchmark remained negative, so the fund handled the short recovery phase better.
The one-year number is still modest, but it is materially ahead of the benchmark’s negative return. That matters because it shows the fund preserved more value than the index over a difficult year, even though the absolute gain was small. The longer view is more constructive: both the 3-year and 5-year returns are above the benchmark, which points to better compounding over full cycles.
At the same time, the gap between the short-term figures and the longer-term numbers tells us the path has not been smooth. The time pattern suggests periods of drawdown, recovery and renewed pressure rather than a straight upward run. For investors, that means the fund’s return profile depends heavily on staying invested long enough for the longer-term trend to dominate.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD SBI Retirement Benefit Fund-Aggressive Plan?
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 SBI Retirement Benefit Fund-Aggressive Plan? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| SBI Retirement Benefit Fund-Aggressive Plan Direct Growth Plan | 0.14% | 7.38% | 10.79% |
| Aditya Birla SL Retirement Fund-30 Direct Growth Plan | 11.24% | 14.92% | 11.8% |
| ICICI Pru Retirement Fund-Hybrid Aggressive Plan Direct Growth Plan | 5.77% | 16.4% | 14.68% |
| ICICI Pru Retirement Fund-Hybrid Cons Plan Direct Growth Plan | 5.21% | 9.5% | 8.61% |
| ICICI Pru Retirement Fund-Pure Equity Plan Direct Growth Plan | 5.18% | 18.43% | 18.72% |
| Tata Retirement Sav Fund – Prog Plan Direct Growth Plan | 4.45% | 12.25% | 10.26% |
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 far below the better peer readings on the table, while its 3-year and 5-year returns also trail several alternatives that have stronger medium-term and long-term figures. The difference is most visible in the one-year comparison, where other retirement funds show healthier gains instead of near-flat movement.
The longer-term comparison is less one-sided, but it still leaves the fund behind the stronger peer numbers on 3-year and 5-year horizons. That suggests the short-term and longer-term stories are aligned here: the fund has not only been softer recently, it has also lagged several peers over longer stretches. For readers comparing retirement options, the key point is that this fund has a steadier benchmark-relative story than its headline one-year result, but it does not match the more robust compounding shown by some peer funds.
Source data date: as of 15 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| ICICI Bank Ltd. | Bank | 5.86% |
| HDFC Bank Ltd. | Bank | 5.8% |
| Larsen & Toubro Ltd. | Infrastructure | 3.93% |
| State Bank of India | Bank | 3.77% |
| Maruti Suzuki India Ltd. | Automobile & Ancillaries | 3.16% |
| TREPS | Cash & Cash Equivalents and Net Assets | 2.77% |
| Axis Bank Ltd. | Bank | 2.67% |
| Ultratech Cement Ltd. | Construction Materials | 2.55% |
| Kotak Mahindra Bank Ltd. | Bank | 2.54% |
| Urban Company Ltd. | Domestic Equities | 2.4% |
The top 10 holdings account for approximately 35.45% of the portfolio.
To see all holdings, visit the SBI Retirement Benefit Fund-Aggressive Plan Direct Growth Plan page
The largest holding, ICICI Bank Ltd. at 5.86%, is meaningful but not dominant on its own. The gap from the first holding to the tenth is moderate rather than extreme, which suggests the portfolio is not dependent on a single position for most of its outcome.
The holding list also leans heavily toward financials, especially banks, with several names in that group appearing near the top. That pattern may make the portfolio more sensitive to movements in the banking cycle, while positions such as Larsen & Toubro Ltd., Maruti Suzuki India Ltd. and Ultratech Cement Ltd. may help diversify the return drivers.
Because the top 10 holdings together make up 35.45% of the portfolio and the scheme discloses 55 holdings in total, the rest of the portfolio is spread across a longer tail. That balance suggests a mix of concentration in key ideas and breadth beyond them, which could help limit dependence on any single stock while still leaving the larger positions with greater influence.
Source data date: as of 15 Sep 2026
Who should invest
This fund fits investors who can accept High Risk and who have enough time for the longer-term return pattern to matter more than short-term volatility. The five-year lock-in also makes it more appropriate for investors who are comfortable keeping money invested through market swings rather than those who may need flexibility.
The main trade-off is between the possibility of stronger long-horizon equity-style compounding and the reality that shorter periods can be weak or uneven. The fund has done better over 3-year and 5-year stretches than over the most recent year, so patient investors are the better match. Relative to the benchmark, the longer-term edge is a positive sign, but the peer table shows that some similar retirement funds have delivered stronger figures over the same horizons.
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 15 Sep 2026
Frequently asked questions
What is the current NAV of SBI Retirement Benefit Fund-Aggressive Plan Direct Growth Plan?
Its NAV is ₹21.1866 as of 15 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is 0.14%, its 3-year return is 7.38% and its 5-year return is 10.79%.
How has it performed versus the benchmark?
It is ahead of the Nifty 50 across 1-year, 3-year and 5-year periods shown here. The gap is especially clear over 1 year, where the benchmark is negative and the fund is slightly positive.
How does it compare with peer retirement funds on the available return figures?
Its recent and longer-term returns are below several peer funds in the comparison table. Some peers have materially stronger 1-year, 3-year and 5-year figures.
What is the minimum SIP amount?
The minimum SIP amount is ₹500.
Who manages the fund and what is the exit load?
The fund is managed by Rohit Shimpi and Ardhendu Bhattacharya. There is no exit load.
Bottom line
This fund’s recent performance is weaker than its longer-term pattern, with a flat 1-year result contrasting with better 3-year and 5-year numbers. It still stays ahead of the benchmark over the periods shown, but several peer retirement funds have stronger medium-term and long-term figures. The portfolio is fairly diversified across 55 holdings, yet the top banking names carry noticeable influence. That combination makes the scheme more suitable for long-horizon investors who can tolerate High Risk and do not need near-term steadiness.
Published on 16 September 2026 at 6:02 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.