Aditya Birla SL BSE India Infrastructure Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Aditya Birla SL BSE India Infrastructure Index Fund Direct Growth Plan is a High Risk index fund with a NAV of ₹9.0486 as of 28 August 2026 and a scheme AUM of ₹31 Cr. Its 1-year, 3-year and 5-year returns are 2.0423%, 0%, and 0% respectively. Our view is that this is a niche, infrastructure-heavy portfolio that may suit investors who can accept sharp sector-driven swings and are comfortable with a relatively short track record.

The fund’s recent numbers are modest, while the benchmark has also been uneven over the same periods. With concentrated exposure to infrastructure and power, and a meaningful mix of mid-cap and small-cap holdings, the fund may behave differently from a broad market index. It is better read as a focused allocation rather than a core diversified equity holding.

Quick facts

Particular	Details
NAV	₹9.0486 as of 28 August 2026
AUM	₹31 Cr
Expense Ratio	0.42%
Launch Date	04 Dec 2024
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	0.05% on or before 30D, Nil after 30D
Fund Managers	Mehul Dama; Priya Sridhar

The fund is managed by Mehul Dama and Priya Sridhar.

Source data date: as of 28 Aug 2026

Performance

Period	Fund return	Benchmark return
1M	-3.14%	-0.85%
3M	-5.34%	3.39%
1Y	2.04%	-2.29%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The most recent stretch has been weak. The fund slipped over 1 month and 3 months, and the 3-month decline was much sharper than the benchmark’s rise over the same period. That tells us the portfolio has been sensitive to the latest move in infrastructure-linked stocks and has not moved in lockstep with the broader market.

The 1-year result is better than the benchmark, but the margin is not large enough to change the overall picture. It shows that the fund can recover when the underlying theme turns supportive, yet it has still produced a modest overall gain rather than a strong compounding path.

Because the scheme was launched only in December 2024, there is no usable 3-year or 5-year record yet. That means the current review must lean more heavily on the short history and the portfolio design. For now, the main signal is that the fund can diverge meaningfully from the benchmark in both directions, which is typical of a concentrated thematic index strategy.

In our view, the short-term pattern and the limited history point to a fund whose outcome is likely to be shaped more by sector cycles than by broad market diversification. Investors looking for steadier return patterns may find that limiting, while those seeking targeted infrastructure exposure may consider that the central feature rather than a flaw.

Source data date: as of 28 Aug 2026

Should you BUY or HOLD Aditya Birla SL BSE India Infrastructure 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Aditya Birla SL BSE India Infrastructure Index Fund Direct Growth Plan	2.04%	Data not available	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	35.235%	31.2535%	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	32.3519%	Data not available	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	32.0816%	Data not available	Data not available
Motilal Oswal Nifty India Defence Index Fund Direct Growth Plan	31.9037%	Data not available	Data not available
Aditya Birla SL Nifty India Defence Index Fund Direct Growth Plan	31.8928%	Data not available	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

On a 1-year basis, the fund trails the strongest peer return figures by a wide margin. That does not automatically make it unsuitable, but it does show that its theme has not matched the recent momentum seen in several other index strategies.

The longer-horizon comparison is harder to make because this scheme does not yet have usable 3-year or 5-year figures. In that sense, the peer set gives a useful contrast: several peers already show longer records, while this fund is still in its early phase. The short-term comparison and the lack of longer history together suggest that investors are taking a view on the infrastructure theme itself, not on an established return track record.

Source data date: as of 28 Aug 2026

Portfolio: where your money goes

Market-cap distribution: Large-cap 67.51%, Mid-cap 15.67%, Small-cap 16.73%, Other 0.08%.

Sector	Weight	Top holdings
INFRASTRUCTURE	30.55%	LARSEN & TOUBRO LIMITED (9.28%); IRB INFRASTRUCTURE DEVELOPERS LIMITED (4.39%)
POWER	29.77%	NTPC LIMITED (8.07%); POWER GRID CORPORATION OF INDIA LIMITED (6.13%)
LOGISTICS	8.98%	ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED (6.93%); GREAT EASTERN SHIPPING CO LTD/THE (0.73%)
CRUDE OIL	8.58%	OIL & NATURAL GAS CORPORATION LIMITED (6.26%); OIL INDIA LIMITED (1.5%)
FINANCE	8.22%	POWER FINANCE CORPORATION LIMITED (3.53%); REC LIMITED (2.65%)

The portfolio is tilted towards large-cap names, but the mid-cap and small-cap slices together are still material. That mix can keep the fund tied to the index’s larger, more established names while still allowing stronger swings when smaller infrastructure-linked stocks move sharply.

The two biggest sectors, infrastructure and power, are both close to 30%, so neither dominates alone. Together they account for most of the portfolio, which means their business cycle and policy sensitivity may have greater influence on day-to-day fund behaviour than the smaller sector blocks.

Among the sector groups listed here, infrastructure is likely to have the greatest influence because it is the largest single bucket and includes a relatively heavy weight in Larsen & Toubro. Power is nearly as important, so the fund’s outcome may often depend on how these two segments move together rather than on broad market conditions alone.

Source data date: as of 28 Aug 2026

Who should invest

This fund suits investors who can handle High Risk exposure and who are comfortable with a focused infrastructure theme. It is more appropriate for a longer horizon than for money needed soon, because the short-term pattern has been uneven and the scheme is still very early in its life.

The main trade-off is clear: you get targeted participation in infrastructure-linked companies, but you also accept concentrated sector dependence and return swings that can differ sharply from the benchmark. Investors who want broad market steadiness may prefer a more diversified allocation, while those who want theme-led exposure may find the structure understandable.

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: 0.05% on or before 30D, Nil after 30D.

Source data date: as of 28 Aug 2026

Frequently asked questions

What is the current NAV of Aditya Birla SL BSE India Infrastructure Index Fund Direct Growth Plan?
Its NAV is ₹9.0486 as of 28 August 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year return is 2.0423%, while the 3-year and 5-year returns are both 0 in the underlying record and are treated as Data not available for investor comparison.

How has the fund performed versus its benchmark?
Over 1 year, the fund returned 2.04% versus the benchmark’s -2.29%. Over 3 months and 1 month, the fund lagged the benchmark, so the relationship has not been one-way.

How does it compare with the peer funds listed here?
Its 1-year return is well below the peer return figures shown for several other thematic index funds. The peer set also includes funds with longer records, while this scheme is still early in its history.

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 Mehul Dama and Priya Sridhar. The exit load is 0.05% on or before 30D, and nil after 30D.

Bottom line

This is a young, High Risk infrastructure index fund whose recent 1-year result is positive but modest, while the shorter 1-month and 3-month periods have been weak. It has outperformed its benchmark over 1 year, yet it has still lagged several peer funds on the available return figures. The portfolio is heavily shaped by infrastructure and power, with a meaningful large-cap core and enough mid-cap and small-cap exposure to keep outcomes uneven. It fits investors who want focused thematic exposure and can live with cycle-driven swings.

Published on 31 August 2026 at 3:05 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.