Aditya Birla SL CRISIL IBX Gilt Apr 2029 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Aditya Birla SL CRISIL IBX Gilt Apr 2029 Index Fund Direct Growth Plan has a NAV of ₹13.4637 as of 28 August 2026 and an AUM of ₹611 Cr. Its 1-year, 3-year and 5-year returns are 5.9266%, 7.7233% and 0% respectively, and the scheme is in the Balanced Risk category. Our view is that this is a portfolio for investors who want a gilt-focused index fund with modest return delivery so far, rather than a fund built for strong short-term upside.

The scheme has stayed close to a steady-compounding profile over the longer periods, while its benchmark has shown weaker recent behaviour. That mix makes the fund more relevant for investors who can tolerate interest-rate movement and want government-securities exposure tied to a defined maturity profile.

Quick facts

The fund is managed by Harshil Suvarnkar and Sanjay Godambe.

Source data date: as of 28 Aug 2026

Performance

The most recent period is encouraging because the fund has posted a positive 1-month return while the benchmark was still slightly negative. That said, the 3-month picture is softer, with the fund trailing the benchmark over that window. This suggests the short-term path has not been one-way, even though the scheme remained ahead on the 1-year measure.

Over the 1-year period, the fund’s return of 5.93% sits well above the benchmark’s -2.29%. That gap matters because it shows the scheme held up better than the benchmark during a difficult stretch for the reference index. For investors, the key point is that the fund has not simply mirrored the benchmark’s weaker recent print.

The 3-year return of 7.72% is also higher than the benchmark’s 6.4%, which points to a slightly better medium-term compounding path. The available performance pattern also looks uneven rather than smooth, so we would treat it as a fund that can deliver steadier results over time but still reflect rate-sensitive fluctuations along the way.

On the longer track record, the fund does not yet have a 5-year return to compare. That limits the depth of long-term assessment, but the available 1-year and 3-year figures still show a scheme that has generally stayed ahead of its benchmark while moving through a patchy recent environment.

Source data date: as of 28 Aug 2026

Peer comparison

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

The fund’s recent 1-year return is far below the peer set shown here, but that comparison is not an apples-to-apples test because the peers span very different market themes. More useful is the medium-term picture: the fund’s 3-year return is modest yet positive, while most of the peer figures shown are much higher on 1-year performance and do not offer longer-run figures for the same period. That creates two different stories, with this gilt index scheme looking steadier and far less explosive than the equity-oriented alternatives shown.

Because several peers do not have 3-year or 5-year figures available, the comparison is mainly useful for showing how differently these funds behave rather than for drawing a single conclusion about superiority. On the available numbers, this fund’s longer-term return profile is more restrained, but it also fits a very different risk and portfolio role.

Source data date: as of 28 Aug 2026

Portfolio: where your money goes

The market-cap distribution is fully parked in other exposures at 100%, with no allocation shown to large-cap, mid-cap or small-cap buckets.

The portfolio is overwhelmingly concentrated in government securities, and that is the clearest driver of its behaviour. With 97.12% in that bucket, the scheme is likely to respond mainly to movements in sovereign yields rather than to equity-market conditions.

The second bucket, cash and cash equivalents plus net assets, is small at 2.88%, so it is unlikely to change the portfolio’s overall character in a meaningful way. Within government securities, the Government of India 18/04/2029 holding is the dominant line at 87.18%, which means this maturity point may have the greatest influence on how the fund behaves.

For investors, the important takeaway is that this is not a diversified multi-sector mix. It is a focused gilt structure, so the return path may be shaped more by rate expectations and bond-price changes than by a broad spread of corporate or equity exposures.

Source data date: as of 28 Aug 2026

Who should invest

This fund is better suited to investors who are comfortable with fixed-income volatility and want a government-securities-oriented index strategy rather than an equity-style growth path. The Balanced Risk tag reflects that the portfolio can move with interest-rate changes, so a medium to long investment horizon makes more sense than a very short one.

The main trade-off is straightforward: investors may get a more disciplined gilt exposure and relatively low expense ratio, but they should not expect the kind of return profile seen in the higher-octane peers shown earlier. The fund’s 1-year and 3-year figures are positive, but the overall shape remains measured rather than aggressive. That makes it more suitable for investors who value rate-linked exposure and can accept periods of uneven movement.

Tax and exit load

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 2029 Index Fund Direct Growth Plan?
The current NAV is ₹13.4637 as of 28 August 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is 5.93% and its 3-year return is 7.72%. A 5-year return is not available yet.

How has the fund done against its benchmark?
It has been ahead of the benchmark on the 1-year and 3-year figures, while the benchmark was slightly stronger over 3 months.

How does it compare with the peer funds shown here?
The peer funds shown have much higher 1-year return figures, but they belong to different themes. This fund’s longer-term return pattern is more restrained and closer to a gilt-style profile.

What is the minimum SIP amount?
The minimum SIP amount is ₹500.

What is the portfolio and exit-load profile?
The portfolio is concentrated in government securities at 97.12%, with no exit load. The fund is managed by Harshil Suvarnkar and Sanjay Godambe.

Bottom line

This fund’s recent performance is mixed but its 1-year and 3-year figures remain ahead of the benchmark, which points to a measured yet stable compounding profile. Compared with the peer set shown, its returns are far more restrained, but that reflects its gilt structure rather than a weakness in design. The portfolio is heavily concentrated in government securities, especially the 18/04/2029 sovereign holding, so interest-rate movement is likely to matter most. That makes the fund a better fit for investors who want focused fixed-income exposure and can accept moderate risk with a long enough horizon.

Published on 31 August 2026 at 3:35 PM IST