Axis Retirement Fund-Conservative Direct Growth Plan Review 2026: NAV, Returns, Portfolio & Should You Invest?

Axis Retirement Fund-Conservative Plan Direct Growth Plan has a NAV of ₹17.2921 as of 15 Sep 2026 and an AUM of ₹46 Cr. Its 1-year, 3-year and 5-year returns are 0.09%, 7.46% and 6.28%, and the fund sits in the High Risk category. In our view, it looks like a conservative retirement-oriented strategy on paper, but the return path has been uneven in the short term and stronger over longer periods.

The portfolio is led by government securities with selective equity exposure, so the mix may suit investors who can tolerate volatility in exchange for a steadier, longer-horizon allocation. Compared with the benchmark, the fund has held up better over 3 years and 5 years, while the latest 1-year stretch has been softer.

Quick facts

Particular	Details
NAV	₹17.2921 as of 15 Sep 2026
AUM	₹46 Cr
Expense Ratio	1.11%
Launch Date	20 Dec 2019
Min SIP	₹1,000
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Solution Oriented
Exit Load	No exit load
Fund Managers	Jayesh Sundar, Devang Shah, Hardik Shah, Krishnaa N

The fund is managed by Jayesh Sundar, Devang Shah, Hardik Shah, and Krishnaa N.

Source data date: as of 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.92%	-4.81%
3M	-0.8%	-3.63%
1Y	0.09%	-8.27%
3Y	7.46%	5.59%
5Y	6.28%	5.58%

The latest 1-month and 3-month numbers show a weak patch, but the fund still stayed ahead of the benchmark in both periods. That matters because the benchmark was also negative over these horizons, which tells us the recent environment has been difficult overall rather than supportive of risk assets.

Over 1 year, the fund is close to flat, while the benchmark is clearly negative. That gap is important: the fund has not produced strong recent upside, but it has still preserved a better 12-month result than Nifty 50. The short-term pattern is therefore better read as resilience rather than momentum.

The longer picture is more constructive. Over 3 years and 5 years, the fund has outpaced the benchmark by a meaningful margin, which suggests the strategy has compounded better across a full market cycle than the broad index in this period. The monthly pattern also shows periods of drawdown and recovery rather than a smooth rise, so investors should expect a path that can move around even when the longer trend is positive.

For us, the key takeaway is that the fund’s return profile is not driven by recent strength. It has relied more on patient compounding over time, and that makes the 3-year and 5-year numbers more useful than the softer 1-year result when judging the scheme.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD Axis Retirement Fund-Conservative 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
Axis Retirement Fund-Conservative Plan Direct Growth Plan	0.09%	7.46%	6.28%
Aditya Birla SL Retirement Fund-30 Direct Growth Plan	11.24%	14.92%	11.8%
Tata Retirement Sav Fund – Prog Plan Direct Growth Plan	7.73%	12.85%	11%
Tata Retirement Sav Fund – Mod Plan Direct Growth Plan	7.39%	12.13%	10.87%
ICICI Pru Retirement Fund-Hybrid Aggressive Plan Direct Growth Plan	5.77%	16.4%	14.68%
SBI Retirement Benefit Fund-Aggressive Hybrid Plan Direct Growth Plan	5.21%	9.02%	11.33%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. The fund’s 1-year return is much lower than the peer set shown here, while its 3-year and 5-year figures are also below the stronger peer outcomes available in the table. That said, the shorter-term gap looks larger than the longer-term gap, so the comparison tells two different stories: recent softness versus a more competitive multi-year track.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
7.18% Government of India (24/07/2037)	Government Securities	33.71%
7.34% Government of India (22/04/2064)	Government Securities	15.05%
7.1% Government of India (08/04/2034)	Government Securities	10.87%
Reliance Industries Limited	Crude Oil	4.63%
State Bank of India	Bank	2.88%
Apollo Hospitals Enterprise Limited	Healthcare	2.74%
Infosys Limited	IT	2.33%
Bharti Airtel Limited	Telecom	2.27%
ICICI Bank Limited	Bank	1.92%
Indus Infra Trust	Finance	1.89%

The top 10 holdings account for approximately 78.29% of the portfolio.

To see all holdings, visit the Axis Retirement Fund-Conservative Plan Direct Growth Plan page

The single largest holding, 7.18% Government of India (24/07/2037), carries a weight of 33.71%, which gives it a very large influence on the portfolio. The next two government securities also remain substantial at 15.05% and 10.87%, so the fixed-income core is clearly the main driver of the disclosed allocation.

Weight then drops sharply from those bond positions into the equity and other holdings. Reliance Industries Limited is 4.63%, and the tenth disclosed holding stands at 1.89%, so the visible portfolio stretches from very large sovereign allocations into much smaller satellite positions. That shape may reduce reliance on any one stock, but it also means the portfolio is not evenly spread across the top names.

Because the top 10 disclosed holdings already account for 78.29% of the portfolio and 28 holdings are disclosed in total, the scheme appears fairly concentrated in its leading positions while still leaving room for a longer tail. In our view, that structure may make the portfolio more sensitive to the government-security basket than to the smaller equity sleeves, even though the latter still matter at the margin.

Source data date: as of 15 Sep 2026

Who should invest

This fund suits investors who can tolerate High Risk and want a retirement-oriented allocation that may move around in the short run. The 1-year result is muted, but the 3-year and 5-year numbers are more stable relative to the benchmark, which points to a strategy that may work better with a longer holding period than with a short tactical view.

The main trade-off is between the defensive feel of the heavy government-security core and the volatility that still comes with the equity sleeve and the fund’s high-risk label. Investors who prefer smoother short-term outcomes may find the recent return pattern uncomfortable, while those with patience for multi-year compounding may find the profile more suitable.

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 15 Sep 2026

Frequently asked questions

What is the current NAV of Axis Retirement Fund-Conservative Plan Direct Growth Plan?

The current NAV is ₹17.2921 as of 15 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?

The fund’s returns are 0.09% over 1 year, 7.46% over 3 years and 6.28% over 5 years.

How does the fund compare with Nifty 50?

It is ahead of Nifty 50 over 1 year, 3 years and 5 years. The gap is strongest over 1 year because the benchmark is negative there, while the fund is close to flat.

How does the fund compare with the peer funds shown here?

Its 1-year return is lower than the peer funds shown here, while its 3-year and 5-year returns are also below the stronger peer outcomes in the table. The longer-term gap is smaller than the short-term gap.

What is the minimum SIP amount?

The minimum SIP amount is ₹1000.

Who manages the fund and what is the exit load?

The fund is managed by Jayesh Sundar, Devang Shah, Hardik Shah, and Krishnaa N. The exit load is no exit load.

Bottom line

Axis Retirement Fund-Conservative Plan Direct Growth Plan shows a mixed profile: recent returns are soft, but the 3-year and 5-year numbers are more constructive and better than the benchmark. Compared with the peer funds shown here, the fund lags on the visible return set, especially over 1 year. The portfolio is anchored by large government-security positions, which gives it a clear fixed-income core, but the risk label remains High Risk. That combination may suit investors who are comfortable with a retirement-style structure and a multi-year horizon.

Published on 16 September 2026 at 2:09 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.