Groww Nifty Private Bank Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 21, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Groww Nifty Private Bank Index Fund Direct Growth Plan currently has a NAV of ₹10.1677 as of 18 Sep 2026 and a scheme AUM of ₹5 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and it carries a High Risk label. In our view, this is a focused private-bank index fund for investors who understand that early-stage index performance can be uneven and who are comfortable with concentrated sector exposure.
The fund’s appeal is tied more to thematic banking exposure than to a demonstrated return track record so far. With a low expense ratio and a portfolio concentrated almost entirely in private banks, it is best viewed as a narrow satellite holding rather than a broad core equity allocation.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹10.1677 as of 18 Sep 2026 |
| AUM | ₹5 Cr |
| Expense Ratio | 0.0% |
| Launch Date | 25 May 2026 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Aakash Chauhan, Nikhil Satam, Shashi Kumar |
The fund is managed by Aakash Chauhan, Nikhil Satam and Shashi Kumar.
Source data date: as of 18 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -1.14% | -3.73% |
| 3M | -2.43% | -3.14% |
| 1Y | 0% | Data not available |
| 3Y | 0% | Data not available |
| 5Y | 0% | Data not available |
In the recent 1-month and 3-month windows, the fund declined, but both declines were milder than the benchmark’s fall. That tells us the portfolio has not been immune to pressure, yet it has held up better than the benchmark over the most recent periods.
The longer view is less informative because the scheme was launched only in May 2026, so the 1-year, 3-year and 5-year return fields do not yet reflect a full operating history. That matters for interpretation: the fund cannot yet be judged on a mature compounding record, and the short history should be treated as a starting point rather than a complete performance story.
The daily pattern in the recent series points to a choppy start, with a few brief recoveries followed by renewed weakness. Our view is that this fits a narrow banking index strategy: it can move with sector sentiment and can lag broad-market diversification when financial stocks lose momentum. At the same time, the recent relative holding up versus the benchmark suggests the fund has not simply tracked every downturn one-for-one.
For now, the main takeaway is that recent resilience is visible, but it is not backed by a long track record. Investors should therefore place more weight on the scheme’s structure and benchmark behaviour than on headline trailing numbers alone.
Source data date: as of 18 Sep 2026
Should you BUY or HOLD Groww Nifty Private Bank 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 Groww Nifty Private Bank Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Groww Nifty Private Bank Index Fund Direct Growth Plan | 0% | 0% | 0% |
| 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 available 1-year figures, the fund trails the peer set by a wide margin because its own history is still too short to show a comparable return record. Several peers also have available 3-year figures, and those numbers remain far stronger than the fund’s current 3-year field, which again reflects the scheme’s very recent launch.
That said, the peer table is not telling the same story for every timeframe. The fund’s recent daily behaviour has been steadier relative to the benchmark’s recent weakness, but the broader peer comparison remains limited by the fund’s short operating history. The main message is that this scheme is still in an early phase, so peer comparisons are more useful for context than for making a judgment about mature consistency.
Source data date: as of 18 Sep 2026
Want to know more? Log in to Univest for more mutual fund insights.
Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| ICICI Bank Limited | Bank | 22.04% |
| Kotak Mahindra Bank Limited | Bank | 20.71% |
| Axis Bank Limited | Bank | 18.96% |
| HDFC Bank Limited | Bank | 18.61% |
| The Federal Bank Limited | Bank | 5.9% |
| Indusind Bank Limited | Bank | 4.49% |
| IDFC First Bank Limited | Bank | 3.82% |
| Yes Bank Ltd | Bank | 2.69% |
| RBL Bank Limited | Bank | 1.58% |
| Bandhan Bank Limited | Bank | 1% |
The largest holding, ICICI Bank Limited, is 22.04%, which is large enough to matter on its own, especially in a narrow sector fund. The next three positions are also substantial, so the portfolio begins with a very heavy bank concentration rather than a balanced spread across industries.
Weight then falls away meaningfully after the top four. The fifth holding is 5.9%, and the tenth is 1%, which shows a much thinner tail beyond the core names. That pattern may make the fund more sensitive to the leading private banks than to the smaller names lower down the list.
The top 10 holdings account for approximately 99.8% of the portfolio, and the fund discloses 10 holdings in total. In practical terms, that means the portfolio is highly concentrated and leaves little room for diversification within the disclosed basket. For investors, the key point is not just that the fund is bank-heavy, but that it is almost fully committed to that theme.
Source data date: as of 18 Sep 2026
Who should invest
This fund suits investors who are comfortable with High Risk exposure and who want a concentrated private-bank theme rather than a diversified equity fund. Because the scheme is newly launched, the longer-horizon return fields do not yet offer a mature track record, so a longer investment horizon is more relevant than a short holding period.
The main trade-off is clear: you get targeted exposure to a set of private banks, but you accept concentration risk and early-stage performance uncertainty. The recent benchmark comparison suggests some resilience in weak patches, yet the portfolio structure means outcomes will still depend heavily on the banking cycle. It is more appropriate as a specialist allocation than as a broad market core.
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 18 Sep 2026
Frequently asked questions
What is the current NAV of Groww Nifty Private Bank Index Fund Direct Growth Plan?
The current NAV is ₹10.1677 as of 18 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year, 3-year and 5-year returns are 0%, 0% and 0%.
How has the fund performed versus its benchmark recently?
It has fallen less than the benchmark in the recent 1-month and 3-month periods. That suggests a slightly better short-term holding pattern than the benchmark, although the scheme is still very new.
How does the fund compare with peer funds on available return data?
Its available return figures are much weaker than several peers, largely because the scheme launched only in May 2026. The peer set includes funds with much longer histories and stronger recorded 1-year and 3-year returns.
What is the minimum SIP amount?
The minimum SIP amount is ₹500.
What is the fund’s risk profile and exit load?
It carries a High Risk label and has no exit load. The portfolio is concentrated almost entirely in bank holdings, so the risk profile is shaped by that narrow sector exposure.
Bottom line
This fund’s recent behaviour is steadier than the benchmark in the latest short windows, but the scheme is still too new for a full long-term performance judgment. Peer comparison on available returns favours the better-established funds, while this scheme’s own history remains brief. The most important portfolio feature is its near-total concentration in private banks, which makes it a specialist vehicle rather than a diversified equity option. Our view is that it fits investors who want targeted banking exposure and can accept high risk and limited track-record visibility.
Published on 21 September 2026 at 10:28 AM IST
Explore mutual funds with Univest
Review mutual fund data, compare performance and explore fund insights on Univest.
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.