Bandhan Equity Savings Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 10, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Bandhan Equity Savings Fund Direct Growth Plan is priced at ₹36.343 as of 09 Sep 2026, with a scheme AUM of ₹400 Cr. Its 1-year, 3-year and 5-year returns are 4.02%, 7.05% and 6.68% respectively, and the fund sits in the Balanced Risk category.
Our view is that this is a hybrid option for investors who want a steadier equity-oriented mix rather than a pure equity swing. The long-term return profile is moderate, and the portfolio’s debt-plus-equity mix should help moderate the ride, but recent returns have been softer than the longer-run trend.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹36.343 as of 09 Sep 2026 |
| AUM | ₹400 Cr |
| Expense Ratio | 0.19% |
| Launch Date | 01 Jan 2013 |
| Min SIP | ₹100 |
| Risk Category | Balanced Risk |
| Benchmark | Nifty 50 |
| Fund Category | Hybrid |
| Exit Load | Nil upto 10% of investments and 0.25% for remaining investment on or before 7D, Nil after 7D |
| Fund Managers | Kapil Kankonkar, Viraj Kulkarni, Harshal Joshi |
The fund is managed by Kapil Kankonkar, Viraj Kulkarni and Harshal Joshi.
Source data date: as of 09 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -0.9% | -4.69% |
| 3M | 1.61% | 0.93% |
| 1Y | 4.02% | -7.16% |
| 3Y | 7.05% | 6% |
| 5Y | 6.68% | 5.87% |
The short-term picture is mixed but not weak in absolute terms. Over 1 month the fund slipped, yet it held up far better than the benchmark, and the same pattern appears over 1 year, where the fund remained positive while the benchmark was negative.
The 3-month return is modestly ahead of the benchmark, which tells us the recent stretch has been more stable than the index even if it has not been especially strong. That kind of pattern matters for a hybrid fund: the aim is usually not to chase the highest upside in every window, but to avoid large swings when equity markets are uneven.
Over 3 years and 5 years, the fund’s returns are slightly ahead of the benchmark. The gap is not dramatic, but it does show that the strategy has kept pace with, and edged past, the reference index over longer holding periods. The 5-year profile is therefore more reassuring than the most recent month, because it suggests the fund’s moderate return stream has been durable rather than a one-off run.
Overall, the fund looks steadier than the benchmark across the latest windows, while still delivering mid-single-digit to low-single-digit annualised returns over longer periods. For investors who value a balanced return pattern over sharp short-term upside, that is an important part of the story.
Source data date: as of 09 Sep 2026
Should you BUY or HOLD Bandhan Equity Savings?
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 Equity Savings? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Bandhan Equity Savings Fund Direct Growth Plan | 4.02% | 7.05% | 6.68% |
| Edelweiss Equity Savings Fund Direct Growth Plan | 8.73% | 11.43% | 9.77% |
| HSBC Equity Savings Fund Direct Growth Plan | 8.46% | 12.8% | 11.08% |
| WOC Equity Savings Fund Direct Growth Plan | 7.66% | Data not available | Data not available |
| Mahindra Manulife Equity Savings Fund Direct Growth Plan | 7.15% | 9.34% | 8.91% |
| Capitalmind Flexi Cap Fund Direct Growth Plan | 6.06% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
The fund trails the better-returning peers on the 1-year measure, where several peer funds are materially ahead. On 3-year and 5-year numbers, it also sits below the stronger peer outcomes with available data, even though its own longer-term record is still positive.
That split matters. The fund’s recent return pattern is weaker than the stronger peer group, but the longer-term record is still respectable for a balanced-risk hybrid. For investors comparing only available return figures, the message is that this fund has been steadier than the benchmark but less powerful than the most assertive peer outcomes.
Source data date: as of 09 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Bandhan Money Market Fund -Direct Plan-Growth | Domestic Mutual Funds Units | 7.09% |
| 7.48% National Bank for Agriculture and Rural Development | Corporate Debt | 7% |
| HDFC Bank Limited | Bank | 4.04% |
| Axis Bank Limited | Bank | 3.75% |
| Kotak Mahindra Bank Limited | Bank | 3.61% |
| Reliance Industries Limited | Crude Oil | 3.41% |
| Bharti Airtel Limited | Telecom | 3.23% |
| Larsen & Toubro Limited | Infrastructure | 2.96% |
| Canara Bank | Bank | 2.95% |
| Pidilite Industries Limited | Chemicals | 2.85% |
The largest disclosed holding is 7.09% in Bandhan Money Market Fund -Direct Plan-Growth, followed closely by a 7% position in a NABARD security. After that, the weights step down into the 4% range and then into the 3% range, which suggests that the visible portfolio is not driven by a single outsized equity position.
The top 10 holdings together account for approximately 40.89% of the portfolio, and the disclosed list contains 60 holdings in total. That combination points to a portfolio that is reasonably spread out, even though the top positions still may have meaningful influence on short-term outcomes. The presence of both debt-like instruments and large banks also supports the fund’s balanced-risk profile.
Because the weight drop from the first to the tenth holding is fairly gradual, the portfolio looks layered rather than narrowly concentrated. That may help smooth individual stock shocks, although the equity sleeve can still move with market conditions. For investors, the important point is that the fund seems to rely on a broader mix of positions rather than a small set of highly dominant bets.
To see all holdings, visit the Bandhan Equity Savings Fund Direct Growth Plan page
Source data date: as of 09 Sep 2026
Who should invest
This fund suits investors who are comfortable with balanced-risk hybrid exposure and want a smoother profile than a pure equity fund. The 1-year return has been softer than the 3-year and 5-year numbers, so the best fit is likely someone with a medium- to long-term horizon who can tolerate some short-term unevenness.
The main trade-off is that the fund may be steadier than the benchmark in choppy periods, but it has also lagged the stronger peer return outcomes available in the same category. Investors who want a measured mix of debt and equity, and who value consistency more than aggressive upside, are likely to find the structure more relevant.
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: Nil upto 10% of investments and 0.25% for remaining investment on or before 7D, Nil after 7D.
Source data date: as of 09 Sep 2026
Frequently asked questions
What is the current NAV of Bandhan Equity Savings Fund Direct Growth Plan?
The current NAV is ₹36.343 as of 09 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 4.02%, its 3-year return is 7.05% and its 5-year return is 6.68%.
How does the fund compare with the benchmark?
It has outpaced the benchmark across 1 month, 3 months, 1 year, 3 years and 5 years. The edge is clearest over 1 year, while the longer windows show a smaller but still positive gap.
How does it compare with the peer funds listed here?
On the available 1-year, 3-year and 5-year figures, several peers have higher returns than this fund. Its own record is still positive, but the stronger peer outcomes suggest this is more of a steady hybrid than a high-return standout.
Is there a minimum SIP amount?
Yes. The minimum SIP amount is ₹100.
Who manages the fund and what is the exit load?
The fund is managed by Kapil Kankonkar, Viraj Kulkarni and Harshal Joshi. The exit load is Nil upto 10% of investments and 0.25% for remaining investment on or before 7D, Nil after 7D.
Bottom line
Bandhan Equity Savings Fund Direct Growth Plan looks steadier over longer periods than its most recent month suggests, and it has also stayed ahead of the benchmark across the return windows shown here. Against peers, however, its available 1-year, 3-year and 5-year figures are more modest than the stronger comparables. The portfolio is diversified across 60 holdings, with the visible top positions spread across debt, banks and other sectors. That combination supports a balanced-risk profile for investors who prefer moderation over aggressive upside.
Published on 10 September 2026 at 3:56 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.