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

Aditya Birla SL Gilt Fund Direct Growth Plan has a NAV of ₹88.1476 as of 03 Sep 2026 and scheme AUM of ₹1,410 Cr. Its 1-year, 3-year and 5-year returns are 3.4%, 5.66% and 5.16%, and the fund is in the Medium Risk category.

Our view is that this is a conservative debt option for investors who are comfortable with gilt-fund movements and want exposure that is shaped mainly by sovereign bond prices. The portfolio is heavily tilted toward government securities, so the main trade-off is steadier credit quality in exchange for returns that can move with interest rates.

Quick facts

Particular	Details
NAV	₹88.1476 as of 03 Sep 2026
AUM	₹1,410 Cr
Expense Ratio	0.49%
Launch Date	01 Jan 2013
Min SIP	₹1,000
Risk Category	Medium Risk
Benchmark	Nifty 50
Fund Category	Debt
Exit Load	No exit load
Fund Managers	Bhupesh Bameta

The fund is managed by Bhupesh Bameta.

Source data date: as of 03 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-0.51%	-3.01%
3M	2.26%	1.95%
1Y	3.4%	-4.4%
3Y	5.66%	5.74%
5Y	5.16%	6.27%

The recent pattern is mixed but not weak in context. Over 1 month, the fund slipped slightly, yet it still held up better than the benchmark, which fell more sharply. That tells us the fund has continued to behave like a defensive debt product rather than a vehicle tied to broad equity-style swings.

The 3-month return is better than the benchmark, and the 1-year return is strongly ahead of it because the benchmark was negative over the same period. That gap matters more for investor experience than the raw 1-year figure alone: the fund has preserved positive compounding while the benchmark’s path was less stable.

On the longer horizon, the picture becomes more balanced. The 3-year return is broadly in line with the benchmark, while the 5-year return trails it. That suggests the fund has delivered respectable compounding, but the benchmark has still compounded slightly better across the full five-year period. The key takeaway is that short-term resilience has been better than the benchmark, while longer-term compounding has been solid but not leading.

Source data date: as of 03 Sep 2026

Should you BUY or HOLD Aditya Birla SL Gilt?

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 Gilt Fund Direct Growth Plan	3.4%	5.66%	5.16%
Bandhan Gilt Fund Direct Growth Plan	8.62%	7.96%	6.37%
Franklin India Gilt Fund Direct Growth Plan	6.95%	6.58%	5.43%
UTI Gilt Fund Direct Growth Plan	6.01%	6.68%	5.73%
Bandhan 10 year Constant Maturity Gilt Fund Direct Growth Plan	5.88%	7.78%	5.88%
ICICI Pru Gilt Fund Direct Growth Plan	5.57%	7.26%	6.68%

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

Among the peer set shown here, the fund’s 1-year return is well behind the stronger peers that have delivered mid-to-high single-digit gains. That short-term comparison makes the latest year look softer than several competing gilt funds, even though the fund still stayed positive.

The longer-term picture is more nuanced. Its 3-year return is close to the middle of the peer group, but the 5-year return is lighter than several of the visible peers. So the fund appears more dependable on short-run preservation than on leading longer-run compounding. The short-term and long-term comparisons therefore tell different stories: resilience has been reasonable, but the peer group has generally produced stronger upside over the same periods.

Source data date: as of 03 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Government of India (22/04/2064)	Government Securities	38.69%
Government of India (18/05/2066)	Government Securities	15.53%
Government of India (19/06/2053)	Government Securities	11.1%
Government of India (18/08/2055)	Government Securities	6.21%
Government of India (05/08/2054)	Government Securities	5.44%
TREPS	Cash & Cash Equivalents and Net Assets	4.61%
Government of India (25/11/2074)	Government Securities	4.18%
Government of India (30/10/2034) (FRB)	Government Securities	3.64%
Government of India (22/02/2061)	Government Securities	1.92%
State Government Securities (29/04/2048)	Government Securities	1.8%

The top 10 holdings account for approximately 93.12% of the portfolio.

To see all holdings, visit the Aditya Birla SL Gilt Fund Direct Growth Plan page

The largest holding alone is a substantial 38.69%, so it is likely to have greater influence on day-to-day portfolio behaviour than any other single position. After that, the weights step down quickly: the second holding is 15.53%, and by the tenth holding the weight is down to 1.8%.

That pattern suggests a portfolio that is concentrated in a few large sovereign positions, with a meaningful tail of smaller holdings. Since the top 10 holdings together account for 93.12% of the portfolio and the fund discloses 15 holdings in total, the visible book is fairly compact even though the last few positions are much smaller. This concentration may help keep the credit profile straightforward, but it also means shifts in a handful of government securities could matter more than broad diversification across many small exposures.

Source data date: as of 03 Sep 2026

Who should invest

This fund may suit investors who are comfortable with debt-market movement and want exposure that is shaped mainly by government securities. The Medium Risk label and the mostly sovereign portfolio point to a profile that is more conservative than equity funds, but not immune to price swings.

The return pattern also matters. The fund has been positive across 1-year, 3-year and 5-year periods, but the latest year is weaker than several visible peers and the 5-year figure trails the benchmark. That makes the fund more appropriate for a medium-to-long horizon where the investor values stability and debt exposure more than standout compounding.

The main trade-off is clear: you may get relatively clean sovereign credit exposure and no exit load, but the return path can still lag stronger gilt peers when rate conditions are less favourable. Investors who want a gilt allocation with a concentrated government-securities book and who can hold through rate cycles may find the fit more natural than those looking for the strongest short-term peer performance.

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 03 Sep 2026

Frequently asked questions

What is the current NAV of Aditya Birla SL Gilt Fund Direct Growth Plan?
The current NAV is ₹88.1476 as of 03 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 3.4% for 1 year, 5.66% for 3 years and 5.16% for 5 years.

How does the fund compare with its benchmark?
It has outperformed the benchmark over 1 month, 3 months and 1 year, but the benchmark is ahead over 5 years. The 3-year return is close to the benchmark.

How does it compare with visible peer gilt funds?
Its latest 1-year return is lower than several visible peers, and its 5-year return is also lighter than many of them. The 3-year figure is closer to the middle of the peer set shown here.

Is there a minimum SIP amount?
Yes. The minimum SIP amount is ₹1000.

Who manages the fund and what is the exit load?
Bhupesh Bameta manages the fund. The exit load is nil, so there is no exit load on redemption.

Bottom line

Aditya Birla SL Gilt Fund Direct Growth Plan has been steadier in the short run than its benchmark, but its longer-run return profile is more modest and trails several visible peer gilt funds on the same horizons. That makes the fund more about sovereign debt exposure and rate-cycle sensitivity than about leading compounding. The portfolio is heavily concentrated in government securities, with one very large holding and a compact set of disclosed positions. It is a reasonable fit for investors who want a conservative gilt allocation and can accept that returns may lag stronger peers at times.

Published on 4 September 2026 at 12:53 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.