Aditya Birla SL CRISIL IBX Gilt Apr 2029 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- August 31, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Aditya Birla SL CRISIL IBX Gilt Apr 2029 Index Fund Direct Growth Plan has a NAV of ₹13.4306 as of 18 Sep 2026 and an AUM of ₹610 Cr. Its 1-year, 3-year and 5-year returns are 4.87%, 7.49% and 0%, respectively, and the scheme sits in the Balanced Risk category.
Our view is that this fund fits investors who want a gilt-led, date-specific index strategy with a relatively stable profile rather than a high-variance return pattern. The current portfolio is heavily anchored in Government of India securities, so the outcome will likely remain sensitive to interest-rate moves and bond-market direction rather than equity-style growth.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹13.4306 as of 18 Sep 2026 |
| AUM | ₹610 Cr |
| Expense Ratio | 0.21% |
| Launch Date | 19 Oct 2022 |
| Min SIP | ₹500 |
| Risk Category | Balanced Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Harshil Suvarnkar, Sanjay Godambe |
The fund is managed by Harshil Suvarnkar and Sanjay Godambe.
Source data date: as of 18 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -0.14% | -3.73% |
| 3M | 0.73% | -3.14% |
| 1Y | 4.87% | -5.31% |
| 3Y | 7.49% | 6.3% |
| 5Y | Data not available | Data not available |
The short-term pattern is mixed but not weak. Over 1 month, the fund edged slightly lower, yet it still did better than the benchmark, which fell more sharply. Over 3 months and 1 year, the fund stayed in positive territory while the benchmark remained negative, so the fund has handled the recent period better than the reference index.
The longer view is different. The 3-year return of 7.49% is only modestly ahead of the benchmark’s 6.3%, which suggests that most of the value creation has been steady rather than dramatic. The time pattern also hints at some swings in the middle of the period, but the fund did recover and ended above the benchmark over 3 years.
The absence of a 5-year return keeps the track record relatively short in practical terms, even though the fund itself has been live since October 2022. For investors, that means the recent improvement in returns is encouraging, but it should still be read alongside the structure of the portfolio and the rate-sensitive nature of gilt exposure.
Source data date: as of 18 Sep 2026
Should you BUY or HOLD Aditya Birla SL CRISIL IBX Gilt Apr 2029 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 2029 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Aditya Birla SL CRISIL IBX Gilt Apr 2029 Index Fund Direct Growth Plan | 4.87% | 7.49% | Data not available |
| ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan | 31.6% | 30.84% | Data not available |
| Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan | 21.71% | Data not available | Data not available |
| Tata Nifty Capital Markets Index Fund Direct Growth Plan | 21.44% | Data not available | Data not available |
| Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan | 21.24% | Data not available | Data not available |
| ICICI Pru Nifty Pharma Index Fund Direct Growth Plan | 18.45% | 19.9% | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the recent 1-year measure, the fund trails the fastest-moving peer names in this set by a wide margin, even though it has still held above its benchmark. The 3-year figure is more subdued as well: it is ahead of the benchmark, but clearly below the stronger 3-year peer outcomes shown here. That makes the comparison look more supportive over benchmark-relative behaviour than over peer-relative return levels.
The longer-horizon picture is also uneven because several peer rows do not have multi-year figures, while the available 3-year numbers for some peers are much stronger than this fund’s. So the short-term and longer-term comparisons tell different stories: the fund has been more resilient than the benchmark, but not especially assertive beside the stronger peer return numbers that are available.
Source data date: as of 18 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Government of India (18/04/2029) | Government Securities | 83.56% |
| 0% GOI – (19/03/2029) Strips | Government Securities | 4.98% |
| Government of India (20/03/2029) | Government Securities | 4.95% |
| Net Receivable / Payable | Cash & Cash Equivalents and Net Assets | 2.36% |
| TREPS | Cash & Cash Equivalents and Net Assets | 1.71% |
| 0% GOI – (12/03/2029) Strips | Government Securities | 1.39% |
| 0% GOI – (19/09/2028) Strips | Government Securities | 0.74% |
The largest holding is Government of India (18/04/2029) at 83.56%, which is large enough to shape the fund’s behaviour on its own. The remaining visible positions are much smaller, and the drop from the top holding to the next largest line is steep. That kind of gap usually means the fund’s outcome may be driven primarily by the main sovereign security rather than by a broad spread of equally weighted positions.
Across the disclosed holdings, the listed positions add up to 99.69% and the fund discloses 7 holdings in total. That tells us the visible portfolio is highly concentrated rather than evenly spread across many names. The cash and TREPS lines provide some additional flexibility, but the overall pattern still looks like a focused gilt structure with a long tail that is very small.
Because the largest position dominates the sheet so clearly, rate moves around the April 2029 government security may have the greatest influence on short-term outcomes. At the same time, the presence of strips and other dated government securities may help smooth the profile a little, although the portfolio is still centred on a narrow sovereign-bond theme.
Source data date: as of 18 Sep 2026
Who should invest
This fund suits investors who are comfortable with interest-rate sensitivity and want a gilt-focused, index-style allocation rather than a diversified equity or hybrid outcome. The Balanced Risk tag points to a profile that is not equity-like, but it is still not risk-free because bond prices can move when rates change.
The return pattern also suggests a medium-to-long horizon is more appropriate than a short holding period. The fund has done better than the benchmark over 1 month, 3 months, 1 year and 3 years, but the gains are measured rather than explosive. The main trade-off is accepting moderate variability in exchange for government-security exposure and a relatively low expense ratio.
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 |
No exit load applies.
Source data date: as of 18 Sep 2026
Frequently asked questions
What is the current NAV of this fund?
The current NAV is ₹13.4306 as of 18 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 4.87%, its 3-year return is 7.49%, and its 5-year return is Data not available.
How does it compare with the benchmark?
It has beaten the benchmark over 1 month, 3 months, 1 year and 3 years. The 3-year return is 7.49% versus 6.3% for the benchmark.
How does it compare with the peer funds shown here?
Its recent returns are lower than several peer figures shown here, especially on the 1-year measure, while its 3-year return is also below the stronger peer figures that are available. The comparison is more positive against the benchmark than against the highest peer return numbers.
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 Harshil Suvarnkar and Sanjay Godambe. No exit load applies.
Bottom line
This fund has been steadier than its benchmark over the recent 1-month, 3-month, 1-year and 3-year periods, but the return pattern is still moderate rather than strong in absolute terms. Compared with the peer figures shown here, the recent numbers look less forceful, even though the benchmark-relative picture is better. The risk profile is tied to gilt exposure, and the portfolio is dominated by one large government security, so rate moves may matter more than broad diversification.
Published on 21 September 2026 at 9:51 AM 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.