Aditya Birla SL Gilt FundGrowth-Instant Gain-Direct Review 2026: NAV, Returns, Portfolio & Should You Invest?

Aditya Birla SL Gilt FundGrowth-Instant Gain-Direct Plan has a current NAV of ₹88.6967 as of 28 August 2026 and a scheme AUM of ₹1,410 Cr. Its 1-year, 3-year and 5-year returns are 4.02%, 5.92% and 5.38%, and the fund sits in the Medium Risk category.

Our view is that this is a conservative debt option with a steady long-term profile rather than a fast-return fund. The return pattern is more stable than aggressive, and the portfolio is heavily anchored to government securities, which supports the gilt mandate.

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%

Recent performance has been mixed but constructive. Over 1 month, the fund held a small positive return while the benchmark was negative, which shows some resilience in a short patch of market stress. Over 3 months, the benchmark moved ahead slightly, so the fund did not fully keep pace in the latest medium-term window.

The clearer picture comes from the longer periods. The 1-year return is positive while the benchmark is negative, which shows the fund handled the past year better than the comparison index. At the same time, the 3-year and 5-year figures remain in a moderate band rather than a high-growth band, which is consistent with a gilt strategy designed for stability rather than sharp capital appreciation.

The provided return path also suggests periods of mild softness followed by recovery rather than a straight upward line. That kind of movement is normal for interest-rate-sensitive debt funds. In our view, the key point is that the fund has preserved a measured compounding pattern over time, but it has not outpaced the benchmark across the full 3-year and 5-year windows.

For investors, this means the fund’s appeal is less about chasing the index and more about participating in government-securities exposure with relatively controlled swings. The recent 1-year result is better than the benchmark, but the longer horizon still points to a steady, not standout, return profile.

Source data date: as of 28 Aug 2026

Should you BUY or HOLD Aditya Birla SL Gilt FundGrowth-Instant Gain-Direct Plan?

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 FundGrowth-Instant Gain-Direct Plan	4.02%	5.92%	5.38%
Bandhan Gilt Fund Direct Growth Plan	8.73%	8.01%	6.48%
Franklin India Gilt Fund Direct Growth Plan	7.29%	6.64%	5.58%
UTI Gilt Fund Direct Growth Plan	6.29%	6.84%	5.85%
Bandhan 10 year Constant Maturity Gilt Fund Direct Growth Plan	6.18%	7.91%	6.09%
ICICI Pru Gilt Fund Direct Growth Plan	6.10%	7.45%	6.95%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the 1-year view, the fund trails every peer listed here except in the broader sense that it remains positive while the benchmark itself has been negative over the same period. The 3-year and 5-year figures also sit below each peer shown with available data, so the comparison points to a more restrained long-term return profile.

That said, the story is not only about catching up on returns. The fund’s pattern is more measured, while several peers show stronger compounding across both medium and long horizons. For investors who value consistency and government-securities exposure, that difference may matter less than the absolute return gap. For return-focused comparisons, the peers currently show stronger results across the periods available.

Source data date: as of 28 Aug 2026

Portfolio: where your money goes

The fund has 0% large-cap, 0% mid-cap and 0% small-cap exposure, with 100% classified as other assets. That fits a gilt fund structure, where the portfolio sits outside equity market-cap buckets and is driven by fixed-income holdings.

Sector	Weight	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, and that sector is materially larger than the cash-and-equivalent bucket. In practical terms, the behaviour of the fund is likely to be influenced more by sovereign bond pricing and interest-rate moves than by anything else.

There is no equity-style spread across market-cap segments, so the portfolio remains focused and simple from a classification point of view. The two government securities listed account for the bulk of the visible fixed-income exposure, which reinforces the gilt nature of the strategy.

In our view, government securities are the main driver of portfolio behaviour here, while the small cash and receivables component may mainly support liquidity. The structure is concentrated, but it is concentrated in line with the fund’s mandate rather than in a way that suggests hidden overlap across sectors.

Source data date: as of 28 Aug 2026

Who should invest

This fund suits investors who are comfortable with a Medium Risk debt allocation and who can stay invested for a meaningful horizon. Its 1-year return is better than the benchmark, but the 3-year and 5-year numbers remain moderate, so expectations should stay anchored to steadier bond-market style outcomes rather than equity-like growth.

The main trade-off is simple: the portfolio offers concentrated government-securities exposure and a relatively contained expense ratio, but the return profile is more measured than several peer gilt funds. That makes it more suitable for investors who want a gilt allocation with a conservative structure and who can accept that short-term outperformance versus peers is not the central feature here.

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 FundGrowth-Instant Gain-Direct 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 returns are 4.02% over 1 year, 5.92% over 3 years and 5.38% over 5 years.

How does the fund compare with its benchmark?
It has outperformed the benchmark over 1 month and 1 year, but trailed it over 3 months, 3 years and 5 years. That makes the recent picture better than the longer-horizon picture.

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

What is the fund’s risk category?
The fund is marked as Medium Risk. Its portfolio is concentrated in government securities, which matches the gilt mandate.

Who manages the fund?
Bhupesh Bameta manages the fund.

Bottom line

Aditya Birla SL Gilt FundGrowth-Instant Gain-Direct Plan shows a stronger one-year picture than its longer-term benchmark comparison, but the 3-year and 5-year returns stay in a moderate range. The peer set shows higher returns across the periods available, while the portfolio remains heavily tilted to government securities. In our view, that makes the fund a fit for investors seeking a conventional gilt allocation with Medium Risk and a clear sovereign-bond focus, rather than for those looking for the strongest return momentum among comparable funds.

Published on 31 August 2026 at 3:05 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.