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 ₹88.1653 as of 17 Sep 2026 and a scheme AUM of ₹1,237 Cr. Its 1-year, 3-year and 5-year returns are 2.05%, 5.45% and 5.03%, respectively, and the fund sits in the Medium Risk category.

Our view is that this is a steady gilt option for conservative investors who want government-securities exposure, but it has not produced standout recent momentum. The portfolio is dominated by sovereign paper, so returns are shaped more by interest-rate moves than by credit risk.

Quick facts

Particular	Details
NAV	₹88.1653 as of 17 Sep 2026
AUM	₹1,237 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 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-1.36%	-3.66%
3M	0.46%	-3.71%
1Y	2.05%	-7.13%
3Y	5.45%	5.82%
5Y	5.03%	5.72%

The recent picture is mixed but not weak in absolute terms. Over one month, the fund was negative, yet it still held up better than the benchmark during the same period. The three-month return is modestly positive, and that matters because the benchmark stayed negative there.

The one-year number is where the fund stands out versus the benchmark on a relative basis. The fund stayed positive while the benchmark was negative, which suggests the portfolio has offered some insulation when broader market conditions were difficult. That said, the return itself is still moderate, so we do not read this as a strong momentum phase.

The three-year and five-year figures point to a steadier compounding profile. Both periods are positive, but they sit slightly below the benchmark over the same horizons. That tells us the fund has been consistent, yet it has not fully matched the benchmark’s longer-run pace. In our view, the recent pattern is better than the short benchmark comparison suggests, but the medium- and long-term track record remains measured rather than aggressive.

For a gilt strategy, that mix is important. The fund’s behaviour looks more tied to rate movement and duration than to sharp return bursts, and the short-term recoveries do not yet change the broader picture of moderate long-term compounding.

Source data date: as of 17 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	2.05%	5.45%	5.03%
Bandhan Gilt Fund Direct Growth Plan	7.66%	7.92%	6.36%
Franklin India Gilt Fund Direct Growth Plan	5.57%	6.46%	5.37%
UTI Gilt Fund Direct Growth Plan	5.13%	6.61%	5.69%
Bandhan 10 year Constant Maturity Gilt Fund Direct Growth Plan	4.67%	7.59%	5.76%
Bajaj Finserv Gilt Fund Direct Growth Plan	4.43%	Data not available	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On recent numbers, the fund trails several peer gilt funds that have delivered stronger 1-year returns. The same gap remains visible on the 3-year and 5-year figures, where the current fund is positive but sits below the better long-term peer outcomes shown here.

That creates a clear two-part story. The short-term return is not the weakest in the set, but it is well below the stronger peer readings, while the longer-term returns are also steadier than they are leading. For investors comparing gilt options purely on trailing return patterns, the fund looks more measured than aggressive.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Government of India (22/04/2064)	Government Securities	30.13%
Government of India (18/05/2066)	Government Securities	14.27%
Government of India (19/06/2053)	Government Securities	13.31%
Government of India (18/08/2055)	Government Securities	8.17%
TREPS	Cash & Cash Equivalents and Net Assets	7.7%
Government of India (05/08/2054)	Government Securities	6.1%
Government of India (25/11/2074)	Government Securities	4.72%
Government of India (30/10/2034) (FRB)	Government Securities	4.15%
Net Receivable / Payable	Cash & Cash Equivalents and Net Assets	2.39%
Government of India (22/02/2061)	Government Securities	2.16%

The largest holding, Government of India (22/04/2064), accounts for 30.13% of the portfolio, so it is likely to have greater influence on the fund’s rate sensitivity than any single smaller position. After that, weights fall quickly into the mid-teens and then the high single digits, which tells us the portfolio is not evenly spread across all holdings.

The top 10 holdings together account for approximately 93.1% of the portfolio, and the fund discloses 14 holdings in total. That combination suggests a fairly concentrated gilt structure with a meaningful tail beyond the visible top positions, but most of the portfolio weight is still anchored in a small set of government securities.

For investors, the main takeaway is that the bond mix is dominated by sovereign paper rather than diversified credit exposure. That can make the fund’s profile easier to understand, but it also means duration movement in these government securities may play an outsized role in returns.

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

Source data date: as of 17 Sep 2026

Who should invest

This fund fits investors who are comfortable with Medium Risk and who want government-securities exposure rather than equity-like growth. The 1-year result has been better than the benchmark, but the 3-year and 5-year numbers are only slightly ahead or behind a broad-market comparison, so expectations should stay measured.

A longer holding period is more sensible than a short tactical allocation, because gilt returns tend to reflect interest-rate moves over time. The trade-off is straightforward: you get sovereign-bond exposure and relatively restrained volatility, but you should not expect the kind of upside associated with higher-growth assets or the strongest peer gilt outcomes.

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 17 Sep 2026

Frequently asked questions

What is the current NAV of Aditya Birla SL Gilt Fund Direct Growth Plan?
The current NAV is ₹88.1653 as of 17 Sep 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 2.05%, 5.45% and 5.03%.

How does this fund compare with the benchmark?
It has outperformed the benchmark over 1 year, but it is slightly behind the benchmark over 3 years and 5 years.

How does it compare with peer gilt funds?
Its 1-year, 3-year and 5-year returns are below several peer gilt funds shown here, though the gap is narrower in some shorter periods than in the longer-term figures.

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

Who manages the fund and what is the exit load?
The fund is managed by Bhupesh Bameta. It has no exit load.

Bottom line

Aditya Birla SL Gilt Fund Direct Growth Plan has shown a mixed but usable return pattern: the latest 1-year number is positive and better than the benchmark, while the 3-year and 5-year figures are steadier but a little behind the benchmark. Against the peer set shown here, its trailing returns are more modest than several alternatives. The portfolio is heavily tilted toward government securities, with one holding carrying a meaningful weight, so the fund’s behaviour is closely tied to sovereign bond movement. That makes it more suitable for investors who want gilt exposure and can stay patient over time.

Published on 18 September 2026 at 2:56 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.