Nippon India Nifty G-Sec Oct 2028 Maturity Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 18, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
Nippon India Nifty G-Sec Oct 2028 Maturity Index Fund Direct Growth Plan currently has a NAV of ₹12.9804 as of 17 September 2026 and a scheme AUM of ₹127 Cr. Its 1-year, 3-year and 5-year returns are 5.06%, 7.31% and 0% respectively, and the scheme is tagged under Balanced Risk. In our view, this is a relatively steady government-securities strategy, but its longer-dated return profile is still limited because the fund has a short operating history and a narrow maturity-focused structure.
The portfolio is heavily tilted to sovereign paper, which keeps the structure simple and transparent. That can suit investors who want debt exposure with a defined maturity theme, while accepting that returns may stay modest and may not move in line with equity-oriented expectations.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹12.9804 as of 17 Sep 2026 |
| AUM | ₹127 Cr |
| Expense Ratio | 0.2% |
| Launch Date | 06 Mar 2023 |
| Min SIP | ₹100 |
| Risk Category | Balanced Risk |
| Benchmark | Nifty 50 |
| Fund Category | Index Funds |
| Exit Load | No exit load |
| Fund Managers | Vivek Sharma |
The fund is managed by Vivek Sharma.
Source data date: as of 17 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.04% | -3.66% |
| 3M | 1.02% | -3.71% |
| 1Y | 5.06% | -7.13% |
| 3Y | 7.31% | 5.82% |
| 5Y | Data not available | Data not available |
The short-term pattern is better than the benchmark over 1 month, 3 months and 1 year. The fund has held up while the benchmark has been negative in those same windows, which points to a more stable return path in the recent period.
The 3-year return is also ahead of the benchmark, but the gap is much narrower than in the shorter windows. That tells us the recent edge has come through a period when the benchmark has been weak, rather than through strong outperformance across every horizon.
The 5-year figure is not available because the fund has not been around for long enough to build that history. So the more useful lens here is the 1-year and 3-year record, which shows consistency rather than aggressive growth.
Looking at the fund’s movement pattern, the return path appears relatively contained, with some recoveries after softer stretches but without sharp swings. That fits a government-securities index approach and supports a view that the scheme may be more about preserving a smoother debt-style profile than chasing high upside.
Source data date: as of 17 Sep 2026
Should you BUY or HOLD Nippon India Nifty G-Sec Oct 2028 Maturity 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 Nippon India Nifty G-Sec Oct 2028 Maturity Index? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Nippon India Nifty G-Sec Oct 2028 Maturity Index Fund Direct Growth Plan | 5.06% | 7.31% | 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 recent numbers, the fund trails the strongest peer returns by a wide margin, but that comparison is not apples-to-apples because the peer set here includes equity-heavy index funds with very different return patterns. Its 3-year return is also below the peer figures shown for the two funds with available 3-year data, while the short-term result still looks steadier than many of those peers. So the story is mixed: modest in absolute return terms, but comparatively resilient over the latest periods.
Source data date: as of 17 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| 7.37% Government of India | Government Securities | 63.81% |
| 7.06% Government of India | Government Securities | 30.11% |
| Net Current Assets | Cash & Cash Equivalents and Net Assets | 2.46% |
| Triparty Repo | Cash & Cash Equivalents and Net Assets | 2.15% |
| 8.6% Government of India | Government Securities | 1.06% |
The largest holding is 7.37% Government of India at 63.81%, which means one security is likely to have the strongest influence on the portfolio’s behaviour. The second holding, also a Government of India security, is another 30.11%, so the portfolio is already very focused by the second line item.
The weight then drops sharply to cash and repo positions, which are much smaller at 2.46% and 2.15%. The gap from the first holding to the fifth holding is wide, and that shows the portfolio is not evenly spread across many active positions.
With only 5 disclosed holdings and a combined disclosed weight of 99.59%, the structure appears highly concentrated in a small number of sovereign and cash-like positions. That may keep the portfolio easy to understand, but it also means a few holdings could drive most of the fund’s movement.
Source data date: as of 17 Sep 2026
Who should invest
This fund may suit investors who are comfortable with a Balanced Risk profile and want a government-securities-oriented index strategy rather than an equity-style growth engine. The 1-year and 3-year returns show a steadier debt-like pattern, while the missing 5-year history means it is better assessed as a shorter-history option with a defined maturity theme.
The benchmark comparison suggests it has held up better in recent weak periods, which may appeal to investors who value relative stability over aggressive upside. The trade-off is clear: the portfolio is concentrated in a few sovereign positions, so return potential is likely to stay moderate and linked closely to those underlying government securities.
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 Nippon India Nifty G-Sec Oct 2028 Maturity Index Fund Direct Growth Plan?
The current NAV is ₹12.9804 as of 17 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 5.06% and the 3-year return is 7.31%. The 5-year return is not available.
How does the fund compare with its benchmark?
It has done better than the benchmark in the 1-month, 3-month and 1-year periods, and it is also ahead over 3 years. The benchmark figures shown are weaker in the recent windows, which helps explain the fund’s relative edge.
How does it compare with the peer funds listed here?
Its recent return is lower than the strongest peer returns shown, while its 3-year return is also below the peer figures available for the two funds with longer histories. The peer set here includes equity-oriented index funds, so the comparison is useful for context but not identical in style.
Is there a minimum SIP amount?
The minimum SIP amount is ₹100.
What are the main risk and portfolio features?
The scheme is tagged under Balanced Risk and is concentrated in government securities, led by a 63.81% holding in 7.37% Government of India paper. It has no exit load and is managed by Vivek Sharma.
Bottom line
This fund’s recent numbers look steadier than the benchmark, and its 3-year return also stays ahead of the index, but the longer history is still limited. Compared with the peer funds shown, its returns are much lower, though those peers are mostly equity-heavy strategies with different risk and return profiles. The portfolio is concentrated in a small set of sovereign and cash-like positions, which supports clarity but keeps upside modest. It may fit investors who want a government-securities index with a controlled profile and a medium-term horizon.
Published on 18 September 2026 at 11:57 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.