Aditya Birla SL Dynamic Term Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Aditya Birla SL Dynamic Term Fund Direct Growth Plan currently has a NAV of ₹52.9133 as of 28 Aug 2026 and manages ₹1,440 Cr. Its 1-year, 3-year and 5-year returns are 6.2441%, 7.7207% and 7.3288%, and the fund sits in the Medium Risk bucket. In our view, that combination points to a debt fund that has delivered steady compounding rather than sharp swings, while still carrying some rate and portfolio sensitivity.

For investors looking at a medium-risk debt allocation with a long enough horizon to absorb near-term variation, the fund looks more suitable than for short holding periods. Its portfolio is dominated by corporate debt and government securities, which helps explain the relatively measured return profile and the emphasis on stability over aggressive upside.

Quick facts

Field	Details
NAV	₹52.9133 as of 28 Aug 2026
AUM	₹1,440 Cr
Expense Ratio	0.64%
Launch Date	01 Jan 2013
Min SIP	₹1,000
Risk Category	Medium Risk
Benchmark	Nifty 50
Fund Category	Debt
Exit Load	Nil up to 15% of units; 0.50% on the excess of the limit for units sold on or before 90 days; nil after 90 days.
Fund Managers	Mohit Sharma; Bhupesh Bameta

The fund is managed by Mohit Sharma and Bhupesh Bameta.

Source data date: as of 28 Aug 2026

Performance

Period	Fund return	Benchmark return
1M	0.20%	-0.85%
3M	2.50%	3.39%
1Y	6.24%	-2.29%
3Y	7.72%	6.40%
5Y	7.33%	7.13%

Recent performance has been mixed but constructive. The 1-month and 1-year periods are positive, which tells us the fund has continued to compound despite a modest short-term dip over three months. That shorter three-month softness matters, but it does not change the broader picture that the fund has preserved a steadier path than the benchmark in the most recent year.

Over longer periods, the return profile looks more consistent. The 3-year return of 7.72% is above the benchmark’s 6.40%, and the 5-year return of 7.33% is also marginally ahead of the benchmark’s 7.13%. That suggests the fund has not relied on one strong burst of performance; it has delivered gradual compounding across cycles.

The time pattern also shows a few phases of slower and faster progress rather than a straight line. That is typical of a debt strategy with credit and duration exposure, where returns can move around but usually remain less dramatic than equity-style outcomes. Our view is that the fund’s behaviour looks more resilient over 3 years and 5 years than over the latest quarter, which is useful for investors who can look beyond short-term noise.

Against the benchmark, the fund is ahead on 1-year, 3-year and 5-year return measures, while the benchmark only edges it in the 3-month window. That mix points to a strategy that has added value more through consistency than through rapid recent momentum.

Source data date: as of 28 Aug 2026

Should you BUY or HOLD Aditya Birla SL Dynamic Term?

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 Dynamic Term Fund Direct Growth Plan	6.24%	7.72%	7.33%
Bandhan Dynamic Term Fund Direct Growth Plan	8.12%	7.65%	6.22%
Kotak Dynamic Term Fund Direct Growth Plan	7.73%	7.97%	6.80%
360 ONE Dynamic Term Fund Direct Growth Plan	7.01%	8.26%	6.97%
Axis Dynamic Term Fund Direct Growth Plan	6.94%	7.58%	6.45%
ICICI Pru Dynamic Term Fund Direct Growth Plan	6.39%	7.88%	7.24%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. The current fund’s 1-year return is below the strongest peer figures in the table, but its 3-year and 5-year numbers remain competitive and broadly in line with the better longer-term peer outcomes. That split suggests the fund has not been the most forceful recent performer, yet its longer-run profile is still respectable. For us, the key point is that the short-term comparison looks less flattering than the longer-term comparison.

When we compare the 3-year and 5-year figures, the fund stands up better than it does on the 1-year number alone. Some peers show stronger 1-year returns, but several of those same funds are softer on 5-year performance. That difference matters because it shows how return leadership can change depending on the period studied. The current fund’s pattern looks more balanced than explosive, which may appeal to investors who value steadier compounding over sharp recent surges.

Source data date: as of 28 Aug 2026

Portfolio: where your money goes

Market-cap bucket	Allocation
Large Cap	0%
Mid Cap	0%
Small Cap	0%
Other Cap	100%

Sector	Allocation	Representative holdings
Corporate Debt	58.55%	9.10% Cholamandalam Investment and Finance Company Limited (27/06/2031) — 3.91%; 7.27% Power Finance Corporation Limited (15/10/2031) — 3.18%
Government Securities	39.54%	Government of India (24/07/2037) — 6.28%; Government of India (07/07/2040) — 5.77%
Cash & Cash Equivalents and Net Assets	1.58%	Clearing Corporation of India Limited — 2.63%

The portfolio is concentrated entirely in the “Other Cap” bucket, which is expected for a debt fund and tells us the equity-style market-cap buckets are not the right lens here. What matters more is the spread across corporate debt, government securities and cash-like assets. On that basis, the fund is mainly a fixed-income portfolio with a strong tilt toward bonds rather than liquid assets.

Corporate debt at 58.55% is meaningfully larger than government securities at 39.54%, so the first sector likely has the greater influence on day-to-day portfolio behaviour. At the same time, government securities still represent a very large share, which can help temper some credit-driven movement. The cash and cash equivalent sleeve is small at 1.58%, so it is unlikely to drive returns.

Our view is that the mix leans toward steady income and moderate sensitivity rather than aggressive volatility. The largest sector is clearly dominant, but not to the extent of making the portfolio one-dimensional. That balance could help the fund remain reasonably stable while still giving it room to respond to shifts in interest rates and credit spreads.

Source data date: as of 28 Aug 2026

Who should invest

This fund may suit investors who are comfortable with medium risk and want a debt allocation that can stay invested for longer than a few months. The 1-year return is lower than some peer outcomes, but the 3-year and 5-year figures are steadier and more competitive, which makes the case stronger for a patient holding period. The benchmark comparison also shows the fund has been ahead over the longer windows.

The main trade-off is that investors may have to accept some short-term variability in exchange for a smoother longer-run profile than an equity fund would usually offer. The portfolio’s heavy exposure to corporate debt and government securities also suggests that returns may depend more on fixed-income conditions than on market exuberance. In our view, it is better suited to investors who want measured compounding and can tolerate moderate fluctuations.

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

Nil up to 15% of units; 0.50% on the excess of the limit for units sold on or before 90 days; nil after 90 days.

Source data date: as of 28 Aug 2026

Frequently asked questions

What is the current NAV of Aditya Birla SL Dynamic Term Fund Direct Growth Plan?
The current NAV is ₹52.9133 as of 28 Aug 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year, 3-year and 5-year returns are 6.2441%, 7.7207% and 7.3288%.

How has the fund performed against its benchmark?
It is ahead of the benchmark over 1 year, 3 years and 5 years, while the benchmark is slightly stronger over 3 months.

How does it compare with peer funds on available return data?
Its 1-year return is below some peer figures, but its 3-year and 5-year returns remain broadly competitive across the peer set shown here.

What is the minimum SIP amount?
The minimum SIP amount is ₹1,000.

What should investors note about risk, portfolio and exit load?
The fund is in the Medium Risk category and is mainly invested in corporate debt and government securities. The exit load is nil up to 15% of units, 0.50% on the excess for sales on or before 90 days, and nil after 90 days.

Bottom line

Aditya Birla SL Dynamic Term Fund Direct Growth Plan looks steadier over longer periods than over the latest quarter, which makes its profile more about patient compounding than short bursts of momentum. Against peers, the 1-year number is less striking, but the 3-year and 5-year returns remain competitive. The portfolio is anchored by corporate debt and government securities, so the fund’s behaviour is likely to stay closer to fixed-income conditions than to broader market swings. For medium-risk investors with a longer horizon, that is a meaningful fit.

Published on 31 August 2026 at 2:45 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.