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

Aditya Birla SL Medium to Long Term Fund Direct Growth Plan has a NAV of ₹140.7633 as of 08 Sep 2026 and an AUM of ₹1,770 Cr. Its 1-year, 3-year and 5-year returns are 4.04%, 6.28% and 5.6%, and the fund carries a Medium Risk label. Our view is that it suits conservative debt investors who want relatively steady behaviour more than fast compounding.

The fund has stayed close to its benchmark over longer periods, while the shorter-term pattern has been a little softer. The portfolio is also led by government securities and other fixed-income instruments, which supports stability, but the return profile still looks modest versus higher-yielding corporate bond peers.

Quick facts

Particular	Details
NAV	₹140.7633 as of 08 Sep 2026
AUM	₹1,770 Cr
Expense Ratio	0.7%
Launch Date	01 Jan 2013
Min SIP	₹1,000
Risk Category	Medium Risk
Benchmark	Nifty 50
Fund Category	Debt
Exit Load	No exit load after holding period
Fund Managers	Bhupesh Bameta

The fund is managed by Bhupesh Bameta.

Source data date: as of 08 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-0.6%	-3.86%
3M	1.61%	1.69%
1Y	4.04%	-5.72%
3Y	6.28%	6.3%
5Y	5.6%	6.05%

The most recent month was mildly negative, but the fall was much smaller than the benchmark’s decline. That tells us the fund has been relatively resilient in a weak patch, even though it did not generate positive one-month returns.

At the three-month horizon, the fund and benchmark were almost identical. This is important because it suggests the recent run has been broadly in line with the market backdrop rather than driven by a sharp fund-specific rerating.

The one-year figure is more striking: the fund has delivered a positive 4.04% while the benchmark is down 5.72%. In our view, that gap shows clear short-term outperformance, but it also needs to be set against the longer view, where the edge narrows.

Over three and five years, the fund has been close to the benchmark, and slightly below it at five years. So the pattern is not one of sustained separation from the index; instead, it has alternated between short-term resilience and longer-term tracking behaviour.

Source data date: as of 08 Sep 2026

Should you BUY or HOLD Aditya Birla SL Medium to Long 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 Medium to Long Term Fund Direct Growth Plan	4.04%	6.28%	5.6%
Franklin India Corporate Bond Fund-A Direct Growth Plan	6.51%	8.09%	6.76%
Baroda BNP Paribas Corp Bond Fund Direct Growth Plan	6.44%	7.84%	6.28%
ICICI Pru Corp Bond Fund Direct Growth Plan	6.25%	7.57%	6.83%
DSP Corp Bond Fund Direct Growth Plan	6.23%	7.42%	6.04%
Bandhan Corp Bond Fund Direct Growth Plan	6.01%	7.38%	6.12%

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

The fund’s 1-year return trails the better recent outcomes among the peer set, where several corporate bond funds are sitting in the mid-6% range. That means the fund has not matched the stronger short-term peer numbers.

On the longer view, the 3-year return is still respectable, but it sits below the stronger peer figures available here. The 5-year number also looks moderate rather than leading, so the gap versus the peer group is not just a one-period issue.

What matters most is that the short-term and long-term stories are different. The fund has shown some resilience against its benchmark, but peers with stronger credit-oriented exposure have delivered higher returns across the same windows.

Source data date: as of 08 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Government of India (22/04/2064)	Government Securities	13.43%
Government of India (18/05/2066)	Government Securities	5.42%
7.17% Tata Capital Housing Finance Ltd. (21/05/2030) **	Corporate Debt	4.13%
State Government Securities (27/03/2033)	Government Securities	4.06%
7.71% Tata Capital Housing Finance Ltd. (14/01/2028) **	Corporate Debt	2.82%
State Government Securities (04/09/2033)	Government Securities	2.81%
State Government Securities (13/03/2034)	Government Securities	2.81%
7.27% National Bank for Agriculture and Rural Development (23/02/2029) **	Corporate Debt	2.8%
State Government Securities (03/12/2033)	Government Securities	2.79%
Government of India (19/06/2053)	Government Securities	2.74%

The largest holding, Government of India (22/04/2064), carries 13.43% weight, so it is likely to have greater influence on the portfolio than any other single position. After that, the weights step down fairly quickly into the 5% to 4% area, and then into a cluster of holdings around 3% and below.

That shape suggests the portfolio is not dominated by one or two positions alone, but the top few names still matter more than the rest. The 10 displayed holdings account for approximately 43.81% of the portfolio, which points to meaningful concentration at the top even though the fund has 48 disclosed holdings in total.

The holding mix also leans heavily toward government securities, with several state and central government papers among the largest positions. In our view, that may support steadier behaviour, while the corporate debt positions could contribute some yield enhancement without changing the overall conservative tone too sharply.

To see all holdings, visit the Aditya Birla SL Medium to Long Term Fund Direct Growth Plan page

Source data date: as of 08 Sep 2026

Who should invest

This fund fits investors who are comfortable with a medium-risk debt allocation and want a steadier profile than equity funds. Its one-year result has been better than the benchmark, while the three- and five-year numbers are closer to the index, so the longer holding period matters more than chasing a strong one-off run.

We think the right horizon is at least several years, because the return pattern has not shown a persistent gap over time. Investors also need to accept that returns may stay moderate if the portfolio remains anchored by government securities and other high-quality fixed-income papers.

The main trade-off is clear: the portfolio can help with stability, but that may come at the cost of stronger upside when compared with higher-return peer funds in the same broad debt space.

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

No exit load after holding period

Source data date: as of 08 Sep 2026

Frequently asked questions

What is the current NAV of Aditya Birla SL Medium to Long Term Fund Direct Growth Plan?

The current NAV is ₹140.7633 as of 08 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 4.04%, 6.28% and 5.6%.

How has the fund performed against its benchmark?

It has done better than the benchmark over 1 year, been almost in line over 3 years, and slightly lagged over 5 years. The benchmark itself has been weaker over 1 year but a little stronger over 5 years.

How does it compare with peer funds on available return data?

Its 1-year, 3-year and 5-year returns are below the stronger peer figures shown here. Several peer corporate bond funds have delivered higher returns across all three windows.

What is the exit load and tax treatment?

No exit load applies after the holding period, and the tax structure is 20% for units held less than 1 year and 12.5% for units held more than 1 year.

Who manages the fund and what is the risk category?

Bhupesh Bameta manages the fund. The risk category is Medium Risk, and the portfolio is led by government securities with some corporate debt exposure.

Bottom line

This fund’s recent one-year performance is better than its benchmark, but the three- and five-year picture is much closer to the index and slightly softer at the longer end. Against peer corporate bond funds, the available return numbers look more modest. The portfolio’s government-securities-heavy structure supports a steadier debt profile, while the top holdings still carry meaningful weight. In our view, it suits investors seeking a medium-risk fixed-income option with a relatively conservative mix and a willingness to accept moderate return potential.

Published on 9 September 2026 at 4:02 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.