Bandhan CRISIL IBX 90:10 SDL Plus Gilt – April 2032 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Bandhan CRISIL IBX 90:10 SDL Plus Gilt – April 2032 Index Fund Direct Growth Plan has a NAV of ₹13.1824 as of 17 Sep 2026 and a scheme AUM of ₹392 Cr. Its 1-year, 3-year and 5-year returns are 5.51%, 7.23% and 0%, and the risk category is Medium Risk. Our view is that it suits investors who want a defined-maturity government-securities index exposure and can accept modest return swings rather than equity-style growth.
The fund’s return pattern has been steadier over 3 years than in the very short term, but its benchmark comparison shows a mixed picture. That makes it more relevant for conservative investors who are comfortable with duration-linked movement and want a portfolio built mainly around SDL and gilt holdings.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹13.1824 as of 17 Sep 2026 |
| AUM | ₹392 Cr |
| Expense Ratio | 0.1% |
| Launch Date | 29 Nov 2022 |
| Min SIP | ₹100 |
| Risk Category | Medium Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Gautam Kaul, Harshal Joshi |
The fund is managed by Gautam Kaul and Harshal Joshi.
Source data date: as of 17 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -1% | -3.66% |
| 3M | 0.47% | -3.71% |
| 1Y | 5.51% | -7.13% |
| 3Y | 7.23% | 5.82% |
| 5Y | 0% | Data not available |
Near-term performance has been uneven, but it has still held up better than the benchmark over 1 month, 3 months and 1 year. The 1-month result is slightly negative, yet the benchmark fell more sharply, which tells us the fund preserved more value during a weak short stretch.
The 3-month figure is a useful improvement. It shows a mild recovery for the fund even while the benchmark remained negative, so the recent phase looks more resilient than the index it is compared against.
Over 1 year, the fund’s 5.51% return stands out against a negative benchmark return. That gap suggests the strategy has behaved more defensively than Nifty 50 in the latest market conditions, although the comparison is not to a like-for-like fixed-income index.
The 3-year return of 7.23% is the clearest long-run figure here. It indicates that the fund has compounded steadily enough to stay above its benchmark over the same period, even though the journey has included small drawdowns and recoveries. The 5-year figure is not available because the scheme has not been running that long, so we should read the longer-term picture through the 3-year trend rather than expect a full-cycle history.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD Bandhan CRISIL IBX 90:10 SDL Plus Gilt – April 2032 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 Bandhan CRISIL IBX 90:10 SDL Plus Gilt – April 2032 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Bandhan CRISIL IBX 90:10 SDL Plus Gilt – April 2032 Index Fund Direct Growth Plan | 5.51% | 7.23% | 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 trails the stronger peer figures in this set, while its 3-year return is also lower than the better-performing peers with available longer histories. At the same time, its peer set is not a single style bucket, so the short-term gap should be read as a comparison of recent return behaviour rather than a direct category verdict.
What stands out is that the fund has a more muted return profile than the faster-moving equity-index peers shown here. That makes the comparison useful mainly as a reminder that this scheme is built for stability and maturity-linked exposure, not for chasing the highest recent returns. Its short-term and 3-year numbers tell a similar story: steadier, but less assertive than the top return figures in the table.
Source data date: as of 17 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| 7.28% Uttar Pradesh SDL (MD 25/01/2032) | Government Securities | 12.68% |
| 6.54% GOI (MD 17/01/2032) | Government Securities | 8.25% |
| 7.23% Tamilnadu SDL (MD 23/03/2032) | Government Securities | 7.85% |
| 7.73% Maharashtra SDL (MD 29/03/2032) | Government Securities | 7.26% |
| 7.72% Haryana SDL (MD 23/03/2032) | Government Securities | 6.47% |
| 7.2% Odisha SDL (MD 05/03/2032) | Government Securities | 6.31% |
| 7.63% Gujarat SDL (MD 25/01/2032) | Government Securities | 5.93% |
| 7.3% Tamilnadu SDL (MD 30/03/2032) | Government Securities | 3.81% |
| 7.26% Haryana SDL (MD 23/03/2032) | Government Securities | 3.8% |
| 7.68% Karnataka SDL (MD 16/11/2031) | Government Securities | 3.21% |
The largest holding is 7.28% Uttar Pradesh SDL (MD 25/01/2032) at 12.68%, which is a meaningful position but not an overpowering one on its own. The tenth holding is 7.68% Karnataka SDL (MD 16/11/2031) at 3.21%, so the weight does fall away fairly steadily across the top 10 rather than dropping in one sharp step.
The displayed holdings together account for 65.57% of the portfolio, and the scheme discloses 29 holdings in total. That mix suggests a portfolio that is still fairly concentrated in its core government-securities positions, yet broad enough to avoid relying on just a handful of instruments.
Because all of the largest positions are in government securities, the portfolio may be more sensitive to interest-rate movement than an equity fund, but the spread across 29 holdings could soften the influence of any single bond. The result is a structure that may suit investors looking for defined-duration exposure with a relatively measured concentration profile.
To see all holdings, visit the Bandhan CRISIL IBX 90:10 SDL Plus Gilt – April 2032 Index Fund Direct Growth Plan page
Source data date: as of 17 Sep 2026
Who should invest
This fund is most relevant for investors who are comfortable with Medium Risk and want a government-securities strategy rather than an equity-style return path. The 1-year and 3-year numbers show modest compounding with some short-term movement, so a medium- to longer-term horizon is more appropriate than a quick-entry, quick-exit approach.
The main trade-off is that the portfolio may offer steadier behaviour than many return-seeking alternatives, but it is unlikely to match the pace of equity-linked peers during strong markets. That makes it suitable for investors who value maturity-linked exposure, can tolerate some duration-driven fluctuation, and are comfortable with returns that may be more measured than the most aggressive options in the broader index-fund universe.
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 Bandhan CRISIL IBX 90:10 SDL Plus Gilt – April 2032 Index Fund Direct Growth Plan?
The current NAV is ₹13.1824 as of 17 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 5.51% for 1 year, 7.23% for 3 years and 0% for 5 years in the displayed return history. The 5-year figure should be read as a placeholder for the scheme’s shorter operating history rather than a full 5-year record.
How does the fund compare with its benchmark?
It has done better than the benchmark over 1 month, 3 months, 1 year and 3 years. The benchmark comparison is mixed in the short run, but the fund has been more resilient across the periods shown.
How does it compare with peer funds on available return data?
Its recent return figures are lower than the stronger equity-index peer numbers in the table, while its 3-year return is also below the higher longer-term peer figures with available histories. The comparison mainly highlights different return profiles rather than a single uniform trend.
Is there a minimum SIP?
Yes, the minimum SIP is ₹100.
What are the fund manager details and exit load?
The fund is managed by Gautam Kaul and Harshal Joshi. There is no exit load.
Bottom line
This fund’s recent return pattern is steadier than its benchmark in the periods shown, but its longer-run record is still moderate rather than high-growth. Compared with the peer figures shown here, it looks more restrained on return, which fits its government-securities profile. The portfolio is dominated by SDL and gilt holdings and spreads across 29 disclosed positions, so the structure is not built around a single instrument. For investors who want measured duration exposure and can accept modest fluctuation, it has a clear role.
Published on 18 September 2026 at 8:30 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.