SBI Retirement Benefit Direct Growth Plan Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 16, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
SBI Retirement Benefit Fund-Aggressive Hybrid Plan Direct Growth Plan has a NAV of ₹20.4644 as of 15 Sep 2026 and scheme AUM of ₹1,671 Cr. Its 1-year, 3-year and 5-year returns are 2.92%, 8.48% and 10.69%, and the scheme carries a High Risk profile.
Our view is that this fund fits investors who can accept equity-led swings and still stay invested through the lock-in. The portfolio also includes a meaningful gold allocation and a wide spread of listed equity and infrastructure-linked positions, which may help balance growth with some diversification, though recent performance has been softer than its longer-term pace.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹20.4644 as of 15 Sep 2026 |
| AUM | ₹1,671 Cr |
| Expense Ratio | 1.06% |
| Launch Date | 10 Feb 2021 |
| Min SIP | ₹500 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Solution Oriented |
| Exit Load | No exit load |
| Fund Managers | Rohit Shimpi, Ardhendu Bhattacharya |
The fund is managed by Rohit Shimpi and Ardhendu Bhattacharya.
Source data date: as of 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.24% | -4.81% |
| 3M | 1.15% | -3.63% |
| 1Y | 2.92% | -8.27% |
| 3Y | 8.48% | 5.59% |
| 5Y | 10.69% | 5.58% |
The short-term picture is mixed, but it is not unusually weak relative to the benchmark. Over 1 month, the fund fell 3.24% while the benchmark declined 4.81%, and over 3 months the fund turned positive even as the benchmark stayed negative. That tells us the scheme has held up better than the benchmark during the recent patch of market pressure.
The 1-year number is still modest at 2.92%, so recent compounding has been slow. Even so, the benchmark’s -8.27% over the same horizon means the fund has clearly done better on a relative basis during a difficult year for the index.
The longer view is stronger. The 3-year return of 8.48% and 5-year return of 10.69% both sit above the benchmark’s 5.59% and 5.58%, which suggests the fund has added value over fuller market cycles. The gap between the recent 1-year pace and the 3-year and 5-year trend shows that the scheme has seen a softer stretch lately, but its longer-run compounding still looks steadier than the benchmark.
We also note that the recent path has not been a straight line. The return pattern shows periods of drawdown followed by recovery, which is consistent with a high-risk hybrid structure that can move with equities but may also draw support from non-equity exposure.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD SBI Retirement Benefit Fund-Aggressive Hybrid Plan?
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 SBI Retirement Benefit Fund-Aggressive Hybrid Plan? Thinking of investing now?
Peer comparison
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| SBI Retirement Benefit Fund-Aggressive Hybrid Plan Direct Growth Plan | 2.92% | 8.48% | 10.69% |
| Aditya Birla SL Retirement Fund-30 Direct Growth Plan | 11.24% | 14.92% | 11.8% |
| ICICI Pru Retirement Fund-Hybrid Aggressive Plan Direct Growth Plan | 5.77% | 16.4% | 14.68% |
| ICICI Pru Retirement Fund-Hybrid Cons Plan Direct Growth Plan | 5.21% | 9.5% | 8.61% |
| ICICI Pru Retirement Fund-Pure Equity Plan Direct Growth Plan | 5.18% | 18.43% | 18.72% |
| Tata Retirement Sav Fund – Prog Plan Direct Growth Plan | 4.45% | 12.25% | 10.26% |
On the 1-year figure, the fund trails several peer funds in absolute return terms, with peer results ranging from 4.45% to 11.24% while this scheme stands at 2.92%. That makes the recent stretch look softer than the peer set, even though it has still been ahead of the benchmark.
Over 3 years and 5 years, the picture is more balanced but still not the strongest. The fund’s 8.48% three-year return is below the 9.5% to 18.43% band shown by the peers with available data, and its 10.69% five-year return also sits below most of those peer figures. In our view, the short-term comparison and the longer-term comparison both point in the same direction: this scheme has been steadier than the benchmark, but its compounding has been more restrained than the stronger peer numbers available here.
Source data date: as of 15 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| SBI Gold ETF | Domestic Mutual Funds Units – Gold | 9.20% |
| ICICI Bank Ltd. | Bank | 4.83% |
| HDFC Bank Ltd. | Bank | 4.75% |
| TREPS | Cash & Cash Equivalents and Net Assets | 3.61% |
| Larsen & Toubro Ltd. | Infrastructure | 3.28% |
| State Bank of India | Bank | 3.03% |
| National Highways Infra Trust | Finance | 2.66% |
| Maruti Suzuki India Ltd. | Automobile & Ancillaries | 2.64% |
| Altius Telecom Infrastructure Trust | Finance | 2.54% |
| Cube Highways Trust | Finance | 2.44% |
The largest holding is SBI Gold ETF at 9.20%, which is a meaningful single position but not an overwhelming one. After that, the weights step down fairly quickly into the 4% range and then the 2% to 3% range, so no single stock or security dominates the displayed list.
The top 10 holdings together account for approximately 38.98% of the portfolio, while the scheme discloses 58 holdings in total. That combination suggests the portfolio is spread across a fairly long tail of positions, even though the biggest names are still likely to have greater influence on short-term movement than the smaller holdings.
We also note the mix of gold, banks, infrastructure and cash-like exposure. That blend may help keep the fund from behaving like a pure equity portfolio, but it can also mean returns move differently from a broad-market benchmark at different points in the cycle.
To see all holdings, visit the SBI Retirement Benefit Fund-Aggressive Hybrid Plan Direct Growth Plan page
Source data date: as of 15 Sep 2026
Who should invest
This fund suits investors with a high risk tolerance and a long horizon, especially those who can stay invested through the 5-year lock-in. The return pattern shows that the scheme has delivered better 3-year and 5-year outcomes than its benchmark, but the most recent 1-year result is much softer than the longer-term pace.
That mix makes it more suitable for investors who are comfortable with short-term volatility in exchange for the chance of steadier compounding over time. The main trade-off is that the portfolio may not keep pace with the strongest peer numbers in every period, even though it has shown resilience versus the benchmark in weaker markets.
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 15 Sep 2026
Frequently asked questions
What is the current NAV of SBI Retirement Benefit Fund-Aggressive Hybrid Plan Direct Growth Plan?
The current NAV is ₹20.4644 as of 15 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 2.92%, its 3-year return is 8.48%, and its 5-year return is 10.69%.
How does the fund compare with the benchmark?
It has done better than the Nifty 50 over 1 year, 3 years and 5 years. The 1-year benchmark return is -8.27%, the 3-year benchmark return is 5.59%, and the 5-year benchmark return is 5.58%.
How does it compare with peer retirement funds on returns?
Its recent return is lower than the peer figures shown here, and its 3-year and 5-year returns are also below most of those peer numbers. Even so, it has been ahead of the benchmark over the same 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 Rohit Shimpi and Ardhendu Bhattacharya. The scheme has no exit load.
Bottom line
This fund’s recent return profile is softer than its longer-term track record, but the 3-year and 5-year numbers still stand above the benchmark. Compared with the peer funds shown here, the scheme looks less assertive on raw returns, while its risk label and portfolio mix point to a higher-volatility, hybrid-style path. The gold allocation and the spread across banks, infrastructure and trusts may keep the portfolio from being a simple equity clone, which is useful for retirement-oriented investors who can handle the lock-in and want a more blended structure.
Published on 16 September 2026 at 6:04 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.