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

Aditya Birla SL Gilt Fund Direct Growth Plan had a NAV of ₹88.6967 as of 28 August 2026 and an AUM of ₹1,410 Cr. Its 1-year, 3-year and 5-year returns are 4.02%, 5.92% and 5.38%, and it carries a Medium Risk label. Our view is that this fund fits investors who want gilt exposure with a relatively steady profile, but the return pattern remains moderate rather than standout.

The fund’s government-securities-heavy portfolio and no-exit-load structure make it more suited to conservative debt allocation than short-term return chasing. The benchmark context matters here: recent returns have improved, but longer-term compounding has still been only modestly ahead of the reference index over 3 years while lagging over 5 years.

Quick facts

Metric	Value
NAV	₹88.6967
AUM	₹1,410 Cr
Expense Ratio	0.49%
Launch Date	01 Jan 2013
Min SIP	₹1000
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 28 Aug 2026

Performance

Period	Fund return	Benchmark return
1M	0.17%	-0.85%
3M	2.99%	3.39%
1Y	4.02%	-2.29%
3Y	5.92%	6.40%
5Y	5.38%	7.13%

The short-term picture has been better than the benchmark in 1 month and 1 year, but softer over 3 months. That mix suggests the fund has not moved in a straight line, yet it has still produced a positive return in each measured period here.

Over 3 years, the fund has kept pace reasonably well with a stable compounding pattern, though it is slightly behind the benchmark on the headline 3-year figure. Over 5 years, the gap widens, because the benchmark’s long-run return is higher than the fund’s. That tells us the fund has offered steadier debt-style participation, but not enough uplift to beat the equity benchmark over the full cycle.

The return path also shows periodic pauses and reversals rather than smooth month-to-month gains. For an investor, that matters because it suggests gilt exposure can help dampen extremes, but it does not eliminate mark-to-market swings. The recent 1-year improvement is encouraging, yet it does not fully change the longer-term picture.

Overall, the fund’s current run has been more resilient than the benchmark in the near term, while the 3-year and 5-year records remain more measured. We would read that as a fund whose recent momentum is better than its longer-history outcome, rather than as a consistently stronger long-term compounder.

Source data date: as of 28 Aug 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	4.02%	5.92%	5.38%
Bandhan Gilt Fund Direct Growth Plan	8.725%	8.0136%	6.4795%
Franklin India Gilt Fund Direct Growth Plan	7.2868%	6.6383%	5.584%
UTI Gilt Fund Direct Growth Plan	6.2894%	6.8361%	5.8546%
Bandhan 10 year Constant Maturity Gilt Fund Direct Growth Plan	6.1771%	7.9126%	6.0865%
ICICI Pru Gilt Fund Direct Growth Plan	6.1045%	7.4461%	6.9532%

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

On 1-year returns, this fund trails all five peer funds listed here, so the recent improvement is still modest relative to the group. The 3-year result is closer to the pack, but it remains behind several peers that have compounded more strongly. The 5-year figure is also softer than every peer shown, which tells us the fund’s longer-term return profile has been more restrained than the peer set.

That said, the gap is not the same across horizons. The short-term comparison looks weaker, while the 3-year and 5-year numbers suggest a more stable but less rewarding profile. For readers comparing gilt funds only on returns, the short-term story and the longer-term story point in the same direction: this scheme has been steadier, but not as productive as the stronger peer returns available here.

Source data date: as of 28 Aug 2026

Portfolio: where your money goes

Market-cap distribution

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

Sector	Allocation	Holdings
GOVERNMENT SECURITIES	97.23%	GOVERNMENT OF INDIA (22/04/2064) — 32.29%; GOVERNMENT OF INDIA (19/06/2053) — 23.69%
CASH & CASH EQUIVALENTS AND NET ASSETS	2.77%	NET RECEIVABLES / (PAYABLES) — 1.33%; CLEARING CORPORATION OF INDIA LIMITED — 0.9%

The portfolio is overwhelmingly concentrated in government securities, which is exactly what we would expect from a gilt strategy. With 97.23% in that bucket, the fund’s behaviour is likely to be shaped primarily by sovereign bond price moves and yield changes rather than by equity-market activity.

The balance sits in cash and cash equivalents, which at 2.77% is too small to change the portfolio’s core character. The largest sector is materially larger than the cash and net assets allocation, so the fund remains highly focused on its central debt mandate. In practical terms, the two government security holdings listed here are the main drivers of the portfolio’s interest-rate sensitivity.

Because there is no equity exposure in the market-cap split and the visible sector list is narrowly focused, the fund may serve as a pure-rate or duration-oriented allocation within a broader debt sleeve. That concentration can help keep the mandate clear, but it also means returns may depend heavily on the government-bond environment.

Source data date: as of 28 Aug 2026

Who should invest

This fund suits investors who are comfortable with Medium Risk debt exposure and who can hold through periods when gilt returns lag the reference index. The 1-year figure is better than the benchmark, but the 3-year and 5-year records are more muted, so the appeal is more about portfolio stability and sovereign-bond exposure than about aggressive return capture.

A medium- to longer-term horizon makes more sense than a very short holding period, because the fund’s return pattern has not been perfectly smooth. Investors who value a government-securities-heavy allocation may find it useful as part of a conservative debt mix, especially when they want limited dependence on corporate credit risk.

The main trade-off is clear: you get a focused gilt portfolio with a clean sovereign-bond profile, but you give up the stronger return pace shown by several peer funds and the benchmark over longer horizons. That makes it a fit for investors prioritising defensive debt characteristics over the highest available return outcome.

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 Gilt Fund Direct Growth Plan?
The current NAV is ₹88.6967 as of 28 August 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year, 3-year and 5-year returns are 4.02%, 5.92% and 5.38%.

How has it performed versus the benchmark?
It has beaten the benchmark over 1 month and 1 year, but it trails on 3-year and 5-year returns.

How does it compare with the peer funds shown here?
Its 1-year, 3-year and 5-year figures are below the peer returns listed in the comparison table. The difference is most visible over 1 year and 5 years.

What is the minimum SIP amount?
The minimum SIP is ₹1000.

What are the risk label, portfolio mix and exit load?
It carries a Medium Risk label and is heavily concentrated in government securities, with 97.23% in that sector. There is no exit load.

Bottom line

Aditya Birla SL Gilt Fund Direct Growth Plan has improved in the near term, but its 3-year and 5-year records still look more restrained than the stronger peer outcomes shown here. The fund’s Medium Risk label fits its sovereign-bond focus, and the portfolio is clearly anchored in government securities rather than spread across broader market buckets. That makes it a targeted gilt allocation for investors who prefer defensive debt characteristics and can accept a steadier, less exciting return profile.

Published on 31 August 2026 at 3:02 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.