Aditya Birla SL CRISIL IBX Gilt Apr 2029 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Aditya Birla SL CRISIL IBX Gilt Apr 2029 Index Fund Direct Growth Plan has a NAV of ₹13.4637 as of 28 August 2026 and an AUM of ₹611 Cr. Its 1-year, 3-year and 5-year returns are 5.9266%, 7.7233% and 0% respectively, and the scheme is in the Balanced Risk category. Our view is that this is a portfolio for investors who want a gilt-focused index fund with modest return delivery so far, rather than a fund built for strong short-term upside.

The scheme has stayed close to a steady-compounding profile over the longer periods, while its benchmark has shown weaker recent behaviour. That mix makes the fund more relevant for investors who can tolerate interest-rate movement and want government-securities exposure tied to a defined maturity profile.

Quick facts

Detail	Value
NAV	₹13.4637
AUM	₹611 Cr
Expense Ratio	0.21%
Launch Date	19 Oct 2022
Min SIP	₹500
Risk Category	Balanced Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Harshil Suvarnkar; Sanjay Godambe

The fund is managed by Harshil Suvarnkar and Sanjay Godambe.

Source data date: as of 28 Aug 2026

Performance

Period	Fund return	Benchmark return
1M	0.42%	-0.85%
3M	2.09%	3.39%
1Y	5.93%	-2.29%
3Y	7.72%	6.4%
5Y	Data not available	Data not available

The most recent period is encouraging because the fund has posted a positive 1-month return while the benchmark was still slightly negative. That said, the 3-month picture is softer, with the fund trailing the benchmark over that window. This suggests the short-term path has not been one-way, even though the scheme remained ahead on the 1-year measure.

Over the 1-year period, the fund’s return of 5.93% sits well above the benchmark’s -2.29%. That gap matters because it shows the scheme held up better than the benchmark during a difficult stretch for the reference index. For investors, the key point is that the fund has not simply mirrored the benchmark’s weaker recent print.

The 3-year return of 7.72% is also higher than the benchmark’s 6.4%, which points to a slightly better medium-term compounding path. The available performance pattern also looks uneven rather than smooth, so we would treat it as a fund that can deliver steadier results over time but still reflect rate-sensitive fluctuations along the way.

On the longer track record, the fund does not yet have a 5-year return to compare. That limits the depth of long-term assessment, but the available 1-year and 3-year figures still show a scheme that has generally stayed ahead of its benchmark while moving through a patchy recent environment.

Source data date: as of 28 Aug 2026

Should you BUY or HOLD Aditya Birla SL CRISIL IBX Gilt Apr 2029 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 CRISIL IBX Gilt Apr 2029 Index Fund Direct Growth Plan	5.9266%	7.7233%	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.

The fund’s recent 1-year return is far below the peer set shown here, but that comparison is not an apples-to-apples test because the peers span very different market themes. More useful is the medium-term picture: the fund’s 3-year return is modest yet positive, while most of the peer figures shown are much higher on 1-year performance and do not offer longer-run figures for the same period. That creates two different stories, with this gilt index scheme looking steadier and far less explosive than the equity-oriented alternatives shown.

Because several peers do not have 3-year or 5-year figures available, the comparison is mainly useful for showing how differently these funds behave rather than for drawing a single conclusion about superiority. On the available numbers, this fund’s longer-term return profile is more restrained, but it also fits a very different risk and portfolio role.

Source data date: as of 28 Aug 2026

Portfolio: where your money goes

The market-cap distribution is fully parked in other exposures at 100%, with no allocation shown to large-cap, mid-cap or small-cap buckets.

Sector	Weight	Holdings
GOVERNMENT SECURITIES	97.12%	GOVERNMENT OF INDIA (18/04/2029) – 87.18%; 0% GOI – 19MAR29 STRIPS – 4.33%
CASH & CASH EQUIVALENTS AND NET ASSETS	2.88%	CLEARING CORPORATION OF INDIA LIMITED – 1.3%; NET RECEIVABLES / (PAYABLES) – 1.26%

The portfolio is overwhelmingly concentrated in government securities, and that is the clearest driver of its behaviour. With 97.12% in that bucket, the scheme is likely to respond mainly to movements in sovereign yields rather than to equity-market conditions.

The second bucket, cash and cash equivalents plus net assets, is small at 2.88%, so it is unlikely to change the portfolio’s overall character in a meaningful way. Within government securities, the Government of India 18/04/2029 holding is the dominant line at 87.18%, which means this maturity point may have the greatest influence on how the fund behaves.

For investors, the important takeaway is that this is not a diversified multi-sector mix. It is a focused gilt structure, so the return path may be shaped more by rate expectations and bond-price changes than by a broad spread of corporate or equity exposures.

Source data date: as of 28 Aug 2026

Who should invest

This fund is better suited to investors who are comfortable with fixed-income volatility and want a government-securities-oriented index strategy rather than an equity-style growth path. The Balanced Risk tag reflects that the portfolio can move with interest-rate changes, so a medium to long investment horizon makes more sense than a very short one.

The main trade-off is straightforward: investors may get a more disciplined gilt exposure and relatively low expense ratio, but they should not expect the kind of return profile seen in the higher-octane peers shown earlier. The fund’s 1-year and 3-year figures are positive, but the overall shape remains measured rather than aggressive. That makes it more suitable for investors who value rate-linked exposure and can accept periods of uneven movement.

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 28 Aug 2026

Frequently asked questions

What is the current NAV of Aditya Birla SL CRISIL IBX Gilt Apr 2029 Index Fund Direct Growth Plan?
The current NAV is ₹13.4637 as of 28 August 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is 5.93% and its 3-year return is 7.72%. A 5-year return is not available yet.

How has the fund done against its benchmark?
It has been ahead of the benchmark on the 1-year and 3-year figures, while the benchmark was slightly stronger over 3 months.

How does it compare with the peer funds shown here?
The peer funds shown have much higher 1-year return figures, but they belong to different themes. This fund’s longer-term return pattern is more restrained and closer to a gilt-style profile.

What is the minimum SIP amount?
The minimum SIP amount is ₹500.

What is the portfolio and exit-load profile?
The portfolio is concentrated in government securities at 97.12%, with no exit load. The fund is managed by Harshil Suvarnkar and Sanjay Godambe.

Bottom line

This fund’s recent performance is mixed but its 1-year and 3-year figures remain ahead of the benchmark, which points to a measured yet stable compounding profile. Compared with the peer set shown, its returns are far more restrained, but that reflects its gilt structure rather than a weakness in design. The portfolio is heavily concentrated in government securities, especially the 18/04/2029 sovereign holding, so interest-rate movement is likely to matter most. That makes the fund a better fit for investors who want focused fixed-income exposure and can accept moderate risk with a long enough horizon.

Published on 31 August 2026 at 3:35 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.