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 has a NAV of ₹8.8256 as of 15 September 2026 and an AUM of ₹30 Cr. Its 1-year, 3-year and 5-year returns are -1.3%, 0% and 0%, and it sits in the High Risk category. Our view is that this is a narrow infrastructure-focused index fund that may suit investors who want theme exposure and can live with uneven short-term outcomes.

Because the recent return pattern remains weak while the portfolio is concentrated in a handful of large infrastructure, power, logistics and transport names, this fund looks better suited to a higher-risk allocation than to a core holding. Its benchmark behaviour has also been choppy, so investor expectations need to stay measured.

Quick facts

Particular	Details
NAV	₹8.8256 as of 15 Sep 2026
AUM	₹30 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 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-4.01%	-4.81%
3M	-8.46%	-3.63%
1Y	-1.3%	-8.27%
3Y	0%	Data not available
5Y	0%	Data not available

The recent picture is uneven. The fund has fallen over the 1-month and 3-month windows, and the 3-month decline is sharper than the benchmark’s move in the same period. That tells us the scheme has had a rougher short-term path than the broader index used for comparison.

Over the 1-year period, the story changes. The fund’s return is less negative than the benchmark return, which suggests that even though both have been under pressure, this scheme held up better across the year than the comparison index. That is a useful offset, but it does not erase the weakness seen in the more recent window.

The 3-year and 5-year figures do not yet give a mature compounding picture, because the fund launched only in December 2024. In practical terms, the long-horizon numbers simply reflect the scheme’s short life rather than a full market cycle. For investors, the main signal is that this is still a young product with a performance record that has not yet settled into a consistent trend.

Its time pattern also suggests sensitivity to sector moves. The shorter-term swings are noticeable, so investors should expect the fund to track infrastructure-linked market sentiment closely. That makes it less suitable for those who want steadier outcomes and more relevant for those who are comfortable with cyclical moves in exchange for theme exposure.

Source data date: as of 15 Sep 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	-1.3%	0%	0%
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	32.61%	29.92%	Data not available
Motilal Oswal Nifty India Defence Index Fund Direct Growth Plan	26.23%	Data not available	Data not available
Aditya Birla SL Nifty India Defence Index Fund Direct Growth Plan	26.22%	Data not available	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	26.18%	Data not available	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	25.91%	Data not available	Data not available

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

The fund’s 1-year return is well below the stronger recent figures seen in the peer set, while the 3-year figure is not yet meaningful in the same way because of the fund’s short history. That creates a clear split between this scheme’s early-track record and the stronger momentum posted by several peers over the same recent period.

On the longer side, the comparison is limited because most peers do not have 3-year or 5-year figures available in this set. Where a 3-year figure is available, it is materially stronger for the peer fund, but that is not a direct like-for-like verdict on quality because the products have different structures and operating histories. The key takeaway is that the short-term comparison is not favorable to this fund, while the limited longer-horizon evidence does not yet build a strong independent case either.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Larsen & Toubro Ltd.	Infrastructure	10.6%
Adani Ports and Special Economic Zone Ltd.	Logistics	8.81%
Interglobe Aviation Ltd.	Aviation	8.5%
NTPC Ltd.	Power	8.45%
Oil & Natural Gas Corporation Ltd.	Crude Oil	6.62%
Power Grid Corporation of India Ltd.	Power	6.53%
Kalpataru Projects International Ltd.	Infrastructure	5.04%
Adani Power Ltd.	Power	4.36%
Rail Vikas Nigam Ltd.	Infrastructure	3.76%
Power Finance Corporation Ltd.	Finance	3.67%

The largest holding, Larsen & Toubro Ltd., carries a 10.6% weight, which is meaningful for a single stock inside a theme fund. After that, the weights step down steadily rather than collapsing, but the top end still dominates the visible list.

The gap from the largest holding to the tenth holding is 6.93 percentage points, so the portfolio does not rely on one position alone, but the top names are still influential. That shape may matter because the fund’s returns can be affected by how the infrastructure, power, logistics and transport names behave together.

The top 10 holdings account for approximately 66.34% of the portfolio, and there are 26 disclosed holdings in total. That suggests a fairly concentrated structure at the top with a longer tail beneath it, so the fund may offer broad theme participation without being spread so thin that the key positions lose influence.

To see all holdings, visit the Aditya Birla SL BSE India Infrastructure Index Fund Direct Growth Plan page

Source data date: as of 15 Sep 2026

Who should invest

This fund is better suited to investors who can accept High Risk and are comfortable with theme-led volatility. The short-term return pattern has been uneven, while the 1-year figure is still negative, so the fund is not built for someone seeking steady near-term outcomes.

It makes more sense for a medium- to long-term horizon where the investor is willing to let the infrastructure theme play out through cycles. The trade-off is that the same concentration that can create upside in a strong sector phase can also leave the fund exposed when the theme cools.

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 15 Sep 2026

Frequently asked questions

What is the current NAV of Aditya Birla SL BSE India Infrastructure Index Fund Direct Growth Plan?

The current NAV is ₹8.8256 as of 15 September 2026.

What are the 1-year, 3-year and 5-year returns?

The 1-year return is -1.3%, while the 3-year and 5-year returns are both 0%.

How does the fund compare with its benchmark?

Over 1 year, the fund has done better than the benchmark because its return is less negative. In the shorter 1-month and 3-month windows, the fund has been weaker than the benchmark.

How does it compare with peer funds on recent returns?

Its 1-year return is far below several peer funds in this comparison set. Where longer-horizon peer figures are available, the peer fund shown with a 3-year return also stands ahead on that measure.

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 30 days, and nil after 30 days.

Bottom line

Aditya Birla SL BSE India Infrastructure Index Fund Direct Growth Plan shows a mixed picture: the 1-year return remains weak, while the benchmark comparison is better over 1 year but not over the most recent shorter windows. Relative to peers in this set, the recent return profile is subdued, and the fund still has a short operating history. The concentrated top holdings in infrastructure, power and logistics give it clear theme exposure, which can work for investors willing to take High Risk and hold through cycles, but it is not a natural fit for conservative portfolios.

Published on 16 September 2026 at 7:59 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.