Invesco India Nifty G-sec Sep 2032 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Invesco India Nifty G-sec Sep 2032 Index Fund Direct Growth Plan is a gilt index fund with a current NAV of ₹1,290.7271 as of 17 Sep 2026 and scheme AUM of ₹52 Cr. Its 1-year, 3-year and 5-year returns are 4.63%, 7.43% and 0% respectively, and the risk category is Medium Risk. Our view is that this is a relatively steady gilt-oriented option for conservative investors who want government-securities exposure, but the return pattern is still uneven in the shorter window and does not show a smooth or broad-based compounding profile.
The fund’s portfolio is heavily anchored in government securities and the current bond mix can make returns sensitive to rate moves, even though the risk label remains Medium Risk. For investors who prefer an index-style gilt allocation over equity-linked volatility, the fund can fit a measured, long-horizon fixed-income allocation better than a short-term return-seeking slot.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹1,290.7271 as of 17 Sep 2026 |
| AUM | ₹52 Cr |
| Expense Ratio | 0.14% |
| Launch Date | 29 Mar 2023 |
| Min SIP | ₹500 |
| Risk Category | Medium Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | 0.25% on or before 30D, Nil after 30D |
| Fund Managers | Krishna Cheemalapati, Gaurav Jakhotia |
The fund is managed by Krishna Cheemalapati and Gaurav Jakhotia.
Source data date: as of 17 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -1.05% | -3.66% |
| 3M | 0.31% | -3.71% |
| 1Y | 4.63% | -7.13% |
| 3Y | 7.43% | 5.82% |
| 5Y | Data not available | Data not available |
The recent pattern is better than the benchmark, especially over 1 month and 3 months, where the fund held up far better than the index. That relative resilience matters because gilt funds can move sharply when bond yields shift, and this fund has shown it can avoid the full extent of short-term drawdowns seen in the benchmark.
The 1-year number is also constructive at 4.63%, while the benchmark is still negative over the same window. That tells us the fund has navigated the last year better than the index, even if the journey has not been linear. The monthly and quarterly paths show a modest dip and recovery rather than a smooth climb, which is normal for a bond fund exposed to interest-rate movements.
The longer picture is more balanced. At 7.43% over 3 years, the fund is ahead of the benchmark’s 5.82%, but the margin is not so large that we would call the outperformance decisive. The key point is that the fund’s recent steadiness is consistent with a longer-run edge, even though the 5-year row is not available and the short-term swings still show that gilt funds are not free from volatility.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD Invesco India Nifty G-sec Sep 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 Invesco India Nifty G-sec Sep 2032 Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Invesco India Nifty G-sec Sep 2032 Index Fund Direct Growth Plan | 4.63% | 7.43% | 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.
On available return figures, the fund’s 1-year outcome is far below the equity-oriented peer set, but that gap is expected because the peer list here includes much higher-volatility strategies. Within its own gilt-style context, the more relevant takeaway is that the fund has stayed positive over 1 year and 3 years, while the benchmark is negative over 1 year and only moderately positive over 3 years.
The 3-year comparison is also important because it shows the fund doing slightly better than the benchmark, but not by a wide margin. That tells us the fund’s appeal is steadier relative performance rather than standout upside. Since the 5-year comparison is unavailable for the current fund and most peers here, the short-term versus medium-term picture is clearer than any full-cycle judgment.
Source data date: as of 17 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| 6.54% Government of India 2032 | Government Securities | 62.12% |
| 7.26% Government of India 2032 | Government Securities | 17.87% |
| 7.95% Government of India 2032 | Government Securities | 17.51% |
| Triparty Repo | Cash & Cash Equivalents and Net Assets | 1.84% |
| Net Receivables / (Payables) | Cash & Cash Equivalents and Net Assets | 0.66% |
The largest holding, 6.54% Government of India 2032, carries a weight of 62.12%, so one security is likely to have the strongest influence on the fund’s day-to-day behaviour. The next two government securities are also substantial at 17.87% and 17.51%, which means the fixed-income core is concentrated in just a few sovereign issues rather than spread evenly across many positions.
Weight drops sharply after the top three holdings. The cash and receivables items are small at 1.84% and 0.66%, so the disclosed portfolio is dominated by government securities with only a thin liquidity sleeve around them. That structure can support index-tracking discipline, but it also means the portfolio may react meaningfully when yields move on the underlying government paper.
All five disclosed holdings together account for 100% of the portfolio, and the total disclosed holding count is five. That makes the fund look highly focused rather than broadly diversified across many line items, which is consistent with an index fund built around a specific government-securities maturity profile.
Source data date: as of 17 Sep 2026
Who should invest
This fund may suit investors with a conservative-to-moderate risk tolerance who want government-securities exposure through an index structure. The Medium Risk label is important here, because the fund can still move with interest-rate shifts even though it is not equity-linked.
A longer horizon makes more sense than a short holding period. The 1-year and 3-year numbers are positive, but the recent path has included some weakness, so the main trade-off is accepting mark-to-market movement in exchange for direct gilt exposure and relatively low costs.
It is more suitable for investors who value benchmark-style debt allocation and can tolerate short-term fluctuation without expecting smooth monthly outcomes. The concentrated sovereign-bond mix also means outcomes may depend heavily on how those underlying government securities behave.
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 applies as 0.25% on or before 30 days, and there is no exit load after 30 days.
Source data date: as of 17 Sep 2026
Frequently asked questions
What is the current NAV of Invesco India Nifty G-sec Sep 2032 Index Fund Direct Growth Plan?
The current NAV is ₹1,290.7271 as of 17 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 4.63%, its 3-year return is 7.43%, and its 5-year return is Data not available.
How has it performed versus the benchmark?
It has done better than the benchmark over 1 month, 3 months, 1 year and 3 years. The 1-year benchmark return is -7.13%, while the fund is positive at 4.63%.
How does it compare with the peer funds listed here?
Its return profile is much lower than the equity-oriented peer funds listed here, but that comparison is not apples-to-apples. Against the benchmark shown for this fund, the current scheme has been steadier over the observed periods.
What is the minimum SIP amount?
The minimum SIP amount is ₹500.
Who manages the fund and what is the exit load?
The fund is managed by Krishna Cheemalapati and Gaurav Jakhotia. The exit load is 0.25% on or before 30 days, and there is no exit load after 30 days.
Bottom line
The fund’s recent numbers are better than its benchmark, and the 3-year result also stays ahead, but the overall pattern is still one of modest, uneven compounding rather than a smooth rise. Compared with the peer list shown here, the return profile is clearly different because those peers are largely equity-oriented. The key portfolio trait is concentration in a handful of government securities, which makes the fund straightforward but sensitive to rate moves. It fits investors who want a focused gilt allocation and can stay patient through short-term volatility.
Published on 18 September 2026 at 12:58 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.