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

Aditya Birla SL Ultra Short Term Fund Direct Growth Plan has a NAV of ₹603.0137 as of 02 Sep 2026 and an AUM of ₹18,189 Cr. Its 1-year, 3-year and 5-year returns are 6.7%, 7.51% and 6.73%, respectively, and the scheme sits in the Medium Risk category.

Our view is that this is a relatively steady debt option for conservative investors who want moderate return potential without stretching into more volatile segments. The portfolio leans on treasury bills, CDs, CPs and corporate debt, which supports a shorter-duration, cash-like character rather than aggressive return seeking.

Quick facts

Particular	Details
NAV	₹603.0137 as of 02 Sep 2026
AUM	₹18,189 Cr
Expense Ratio	0.34%
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	Kaustubh Gupta, Sunaina da Cunha, Monika Gandhi

The fund is managed by Kaustubh Gupta, Sunaina da Cunha and Monika Gandhi.

Source data date: as of 02 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.59%	-3.47%
3M	2.14%	2.17%
1Y	6.7%	-3.84%
3Y	7.51%	5.8%
5Y	6.73%	6.3%

The recent pattern is steadier than the benchmark’s behaviour. Over 1 month, the fund stayed mildly positive while the benchmark was negative, and over 1 year the gap is wider because the benchmark delivered a negative return while the fund remained positive. That supports the idea that this debt fund has been better insulated from the kind of swings that can affect the benchmark.

The medium-term record is also respectable. The 3-year return at 7.51% is above the 1-year figure, which suggests the fund has maintained a fairly consistent compounding profile rather than relying on a single strong stretch. The 5-year number at 6.73% is close to the 1-year outcome and remains ahead of the benchmark’s 6.3%, so the longer window does not point to a sharp deterioration in trend.

What matters more for investors is the shape of the path. The 1-month and 3-month data show limited movement, while the 1-year and 3-year windows point to a controlled return pattern. In our view, that makes the fund more suitable for investors who value predictability and capital stability over rapid return jumps.

Source data date: as of 02 Sep 2026

Should you BUY or HOLD Aditya Birla SL Ultra Short 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
Tata Ultra Short Term Fund Direct Growth Plan	7.03%	7.53%	6.74%
Aditya Birla SL Ultra Short Term Fund Direct Growth Plan	6.7%	7.51%	6.73%
ICICI Pru Short Term Fund Direct Growth Plan	6.56%	7.85%	7.16%
Axis Short Term Fund Direct Growth Plan	6.2%	7.78%	6.77%
Mahindra Manulife Short Term Fund Direct Growth Plan	6.19%	7.76%	6.61%

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

The current fund’s 1-year return is close to the stronger peer outcomes, though Tata Ultra Short Term Fund Direct Growth Plan is slightly higher on that measure. Over 3 years, the fund stays very near Tata’s figure, while ICICI Pru Short Term Fund Direct Growth Plan and Axis Short Term Fund Direct Growth Plan are higher. Over 5 years, the fund is again close to Tata and below ICICI Pru, which tells us the longer record is solid but not the strongest in this peer set. The short-term and longer-term comparisons are broadly aligned: the fund is competitive, steady and near the middle of the available return spread rather than showing a dramatic gap in either direction.

Source data date: as of 02 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
182 Day T-Bill 18.09.26	Treasury Bills	4.64%
National Bank for Agriculture and Rural Development (18/03/2027) **#	Certificate of Deposit	4.03%
Indusind Bank Ltd. (14/12/2026) **#	Certificate of Deposit	4.02%
Tata Teleservices (Maharastra) Ltd. (17/11/2026) **	Commercial Paper	3.23%
9.05% Shriram Finance Ltd. (02/09/2027)	Corporate Debt	2.93%
Small Industries Development Bank of India (10/11/2026) **#	Certificate of Deposit	2.7%
National Bank for Agriculture and Rural Development (17/02/2027) **#	Certificate of Deposit	2.65%
HDFC Bank Ltd. (09/03/2027) #	Certificate of Deposit	2.37%
7.30% Bharti Telecom Ltd. (01/12/2027) **	Corporate Debt	2.18%
8.05% Muthoot Finance Ltd. (25/11/2027) **	Corporate Debt	1.91%

The top 10 holdings account for approximately 30.66% of the portfolio.

To see all holdings, visit the Aditya Birla SL Ultra Short Term Fund Direct Growth Plan page

The single largest holding, 182 Day T-Bill 18.09.26, is 4.64%. That is meaningful, but it is not large enough to dominate the portfolio on its own. The next few holdings stay in a fairly tight band around 4% to 2.7%, which suggests the fund does not rely on one very large position to drive outcomes.

The drop from the first holding to the tenth is gradual rather than sharp. By the tenth row, the weight is 1.91%, so the displayed list spreads exposure across several instruments instead of concentrating it in just a couple of names. The mix of treasury bills, CDs, CPs and corporate debt also shows that the portfolio is built from short-duration credit and money-market style instruments.

Because the top 10 add up to 30.66% and the fund discloses 67 holdings in total, the visible positions account for only part of the scheme. That points to a long tail of smaller holdings, which may help balance concentration in the largest names while still leaving the fund sensitive to the quality and liquidity of its shorter-term debt exposures.

Source data date: as of 02 Sep 2026

Who should invest

This fund suits investors who are comfortable with medium risk but still want a relatively controlled debt profile. The return pattern is useful for those with a medium- to longer-term horizon, because the 1-year, 3-year and 5-year figures have stayed in a narrow band and have generally held up better than the benchmark.

The trade-off is straightforward: you get steadier behaviour and a short-duration portfolio, but not the higher upside that comes with more aggressive credit or longer-duration bets. The mostly treasury, CD and CP-based mix points to a scheme that may fit investors looking for stability, liquidity and measured compounding rather than sharp return swings.

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 after holding period.

Source data date: as of 02 Sep 2026

Frequently asked questions

What is the current NAV of Aditya Birla SL Ultra Short Term Fund Direct Growth Plan?
Its NAV is ₹603.0137 as of 02 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 6.7% over 1 year, 7.51% over 3 years and 6.73% over 5 years.

How has the fund performed versus the benchmark?
It has stayed ahead of the benchmark over 1 year, 3 years and 5 years. The benchmark return is negative over 1 year, while the fund remains positive.

How does it compare with peer funds on returns?
It is competitive across the available peer figures, with 1-year, 3-year and 5-year returns close to Tata Ultra Short Term Fund Direct Growth Plan and below ICICI Pru Short Term Fund Direct Growth Plan on the longer windows.

Is there a minimum SIP amount?
No minimum SIP amount is stated here, so we do not present one.

Who manages the fund and what is the exit load?
The fund is managed by Kaustubh Gupta, Sunaina da Cunha and Monika Gandhi. There is no exit load after the holding period.

Bottom line

Aditya Birla SL Ultra Short Term Fund Direct Growth Plan has shown a steadier return pattern over short, medium and longer windows, and it has stayed ahead of the benchmark on the available periods. The peer comparison also places it in a competitive band rather than an outlier position, with returns that remain close to several comparable short-term debt funds. Its Medium Risk label, treasury-heavy top holdings and broad spread across 67 disclosed holdings make it better suited to investors who want measured debt exposure and can accept moderate fluctuations in exchange for stability.

Published on 3 September 2026 at 6:48 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.