Aditya Birla SL CRISIL IBX Gilt April 2033 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 April 2033 Index Fund Direct Growth Plan last quoted NAV is ₹12.1818 as of 17 Sep 2026, with scheme AUM at ₹27 Cr. Its 1-year, 3-year and 5-year returns are 4.69%, 0% and 0%, and the risk category is Medium Risk.
Our view is that this is a narrow gilt index fund with a very concentrated portfolio, so returns are likely to track a single sovereign security closely. The recent return pattern is modest, while the longer record is still too short to show a mature compounding history.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹12.1818 as of 17 Sep 2026 |
| AUM | ₹27 Cr |
| Expense Ratio | 0.2% |
| Launch Date | 22 Dec 2023 |
| Min SIP | ₹500 |
| Risk Category | Medium 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 17 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -1.04% | -3.66% |
| 3M | 0.55% | -3.71% |
| 1Y | 4.69% | -7.13% |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The fund has held up better than the benchmark across every available period. That matters because the benchmark has been weak over the same stretches, while the fund still managed to stay positive over 3 months and 1 year.
On a short horizon, the 1-month decline of 1.04% shows that the fund can still move down over brief windows, even if the benchmark fell more sharply. The 3-month gain of 0.55% suggests a mild recovery phase rather than a strong momentum run.
The 1-year figure of 4.69% is the clearest positive signal in the record. It is not a large return in absolute terms, but it is materially ahead of the benchmark’s 1-year decline and indicates steadier behaviour than the index it is being measured against.
The longer pattern is harder to read because there is no 3-year or 5-year history yet. For that reason, we would treat the current record as evidence of short-cycle resilience rather than proof of a durable long-term compounding profile.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD Aditya Birla SL CRISIL IBX Gilt April 2033 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 April 2033 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Aditya Birla SL CRISIL IBX Gilt April 2033 Index Fund Direct Growth Plan | 4.69% | Data not available | Data not available |
| ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan | 29.31% | 30.01% | Data not available |
| Tata Nifty Capital Markets Index Fund Direct Growth Plan | 21.45% | Data not available | Data not available |
| Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan | 21.13% | Data not available | Data not available |
| Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan | 20.68% | Data not available | Data not available |
| ICICI Pru Nifty Pharma Index Fund Direct Growth Plan | 17.57% | 18.84% | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
The fund’s 1-year return is well below the stronger peer figures shown here, where several funds have delivered returns in the high teens to nearly 30%. That said, the comparison is not like-for-like in market exposure, so the more useful takeaway is that this gilt fund has been far steadier than the benchmark, but not as rewarding as the higher-growth equity index funds in the peer set.
Its 3-year and 5-year fields are still unavailable, so the peer comparison currently tells a short-horizon story. On the available numbers, the fund looks more defensive than return-led, while some peers have already built a deeper history of stronger compounding.
Source data date: as of 17 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Government of India (06/02/2033) | Government Securities | 96.33% |
| TREPS | Cash & Cash Equivalents and Net Assets | 3.13% |
| Net Receivable / Payable | Cash & Cash Equivalents and Net Assets | 0.54% |
The largest holding, Government of India (06/02/2033), accounts for 96.33% of the portfolio, so it is likely to drive most of the fund’s day-to-day movement. That is a clear sign of a very focused duration profile rather than a diversified basket of many securities.
Weight falls away sharply after the first line item. The next two positions are cash and cash-equivalent items at 3.13% and 0.54%, so the disclosed portfolio is heavily concentrated in one sovereign security with only a small liquidity buffer beside it.
Because the fund discloses only 3 holdings and the combined weight of those holdings is 100%, there is no long tail visible here. In practical terms, this could make the fund’s behaviour easier to understand, but it also means that one bond will likely have greater influence on returns than anything else.
Source data date: as of 17 Sep 2026
Who should invest
This fund may suit investors who are comfortable with fixed-income style movements and want exposure to a single government security through an index structure. The Medium Risk label suggests it is not designed for very short-term parking, even though the portfolio itself is centered on sovereign paper and cash-like balances.
The return profile points to a short-to-medium holding period rather than a return-chasing allocation. Our view is that investors who want benchmark-aware debt exposure, can tolerate periods of mild mark-to-market movement, and prefer a concentrated gilt structure over a broader debt basket may find the setup more relevant.
The main trade-off is straightforward: the fund offers structural simplicity and sovereign exposure, but not a broad diversification story. It is therefore better understood as a focused debt allocation with modest recent returns rather than as a high-growth satellite fund.
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 17 Sep 2026
Frequently asked questions
What is the current NAV of Aditya Birla SL CRISIL IBX Gilt April 2033 Index Fund Direct Growth Plan?
The current NAV is ₹12.1818 as of 17 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is 4.69%, while the 3-year and 5-year returns are Data not available in the current record.
How has the fund performed versus the benchmark?
It has done better than the benchmark across the available periods. The 1-year fund return is positive while the benchmark is negative over the same horizon.
How does it compare with the peer funds listed here?
Its 1-year return is lower than several of the peer funds shown here, while its longer-horizon fields are not yet available for comparison.
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 highly concentrated in Government of India (06/02/2033), with a small balance in TREPS and net receivable/payable.
Bottom line
This fund’s recent return profile is steadier than its benchmark, but the available history is still short and does not yet show a long compounding track record. Against the peer set, the 1-year return is modest, while the portfolio itself is extremely concentrated in one government security. That combination makes it more of a focused gilt allocation than a broad diversification tool. For investors comfortable with Medium Risk and looking for sovereign exposure rather than equity-style growth, it may be a useful niche holding.
Published on 18 September 2026 at 11:43 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.