Bandhan Conservative Hybrid Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Bandhan Conservative Hybrid Fund Direct Growth Plan had a NAV of ₹37.2722 as of 09 Sep 2026 and an AUM of ₹87 Cr. Its 1-year, 3-year and 5-year returns are 3.78%, 7.27% and 5.83%, and it sits in the Medium Risk category. Our view is that this is a conservative hybrid option for investors who want a steadier pattern than an equity-led fund, but who can still accept some ups and downs in return for gradual long-term compounding.

The fund’s long-run returns are modest rather than standout, and the recent 1-year outcome is softer than the 3-year figure. That makes it more suitable for investors who are comfortable with a measured pace of growth and who value a hybrid portfolio structure over a pure equity style.

Quick facts

Particular	Details
NAV	₹37.2722 as of 09 Sep 2026
AUM	₹87 Cr
Expense Ratio	1.04%
Launch Date	01 Jan 2013
Min SIP	₹100
Risk Category	Medium Risk
Benchmark	Nifty 50
Fund Category	Hybrid
Exit Load	Nil upto 10% of investment and 0.25% for remaining investment on or before 7D, Nil after 7D
Fund Managers	Viraj Kulkarni, Harshal Joshi

The fund is managed by Viraj Kulkarni and Harshal Joshi.

Source data date: as of 09 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-1.21%	-4.69%
3M	2.69%	0.93%
1Y	3.78%	-7.16%
3Y	7.27%	6.00%
5Y	5.83%	5.87%

In the near term, the fund has been less choppy than the benchmark over the last month and year, even though the 1-month figure is still negative. That is useful for investors who prefer a smoother path, because the benchmark has moved more sharply in both directions over the same windows.

The 3-month return improved from the weaker short-term patch and is now ahead of the benchmark over that window. Over 1 year, the fund has also held up clearly better than the benchmark, which posted a negative return over the same period. That gap suggests the conservative hybrid structure has helped soften the impact of equity volatility.

The 3-year picture is stronger than the 1-year picture, while the 5-year return is almost flat versus the benchmark. Our view is that the fund has not consistently outpaced the benchmark over long stretches, but it has shown more resilience when the benchmark has been weak. The pattern looks more defensive than aggressive, with moderate upside and limited evidence of strong acceleration.

Source data date: as of 09 Sep 2026

Should you BUY or HOLD Bandhan Conservative Hybrid?

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
Bandhan Conservative Hybrid Fund Direct Growth Plan	3.78%	7.27%	5.83%
Nippon India Conservative Hybrid Fund Direct Growth Plan	7.43%	8.73%	8.32%
Parag Parikh Conservative Hybrid Fund Direct Growth Plan	5.96%	9.53%	9.52%
SBI Conservative Hybrid Fund Direct Growth Plan	5.75%	8.46%	8.74%
Baroda BNP Paribas Conservative Hybrid Fund Direct Growth Plan	5.68%	8.56%	7.6%
Aditya Birla SL Conservative Hybrid Fund Direct Growth Plan	5.43%	8.8%	8.19%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. The fund’s 1-year return is below the five peer funds listed here, while its 3-year and 5-year returns are also lower than most of them. That said, the gap is not uniform across periods: the fund has held up better against the benchmark in recent windows than its longer-run numbers suggest. For investors, that creates a split picture where short-term resilience is visible, but longer-run compounding still looks more restrained than several peers.

Source data date: as of 09 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Bandhan Nifty 50 ETF	Domestic Mutual Funds Units	12.96%
7.3% GOI (MD 19/06/2053)	Government Securities	8.87%
8.57% Rajasthan SDL (MD 11/07/2028)	Government Securities	5.88%
7.77% REC Limited **	Corporate Debt	5.74%
8.4% Godrej Industries Limited **	Corporate Debt	5.74%
7.75% LIC Housing Finance Limited **	Corporate Debt	5.73%
7.37% National Bank for Financing Infrastructure and Development **	Corporate Debt	5.68%
7.1% Bajaj Housing Finance Limited **	Corporate Debt	5.64%
6.66% Small Industries Dev Bank of India **	Corporate Debt	5.61%
Bank of India **	Certificate of Deposit	5.55%

The top 10 holdings account for approximately 67.4% of the portfolio.

To see all holdings, visit the Bandhan Conservative Hybrid Fund Direct Growth Plan page

The largest single holding is Bandhan Nifty 50 ETF at 12.96%, which is meaningfully larger than the next position at 8.87%. After that, the weights stay fairly close together in the 5.5% to 5.9% range for most of the remaining top holdings. That pattern suggests the fund is not relying on one position alone, but the leading few names may still have greater influence on short-term movement than the longer tail.

Because the disclosed top 10 holdings already sum to 67.4% across 24 holdings, the portfolio appears moderately concentrated in its visible core. At the same time, the spread beyond the first few holdings indicates that exposure is not excessively dependent on a single issuer or security. Our view is that this structure may help balance stability and diversification, while still leaving the fund sensitive to the performance of its largest debt and gilt positions.

Source data date: as of 09 Sep 2026

Who should invest

This fund is suited to investors who can accept Medium Risk and want a hybrid allocation with a steadier profile than a pure equity fund. The 1-year return is softer than the 3-year return, and the 5-year outcome is close to the benchmark, so it may appeal more to people who care about balance and resilience than about fast upside.

The main trade-off is that the portfolio may not deliver the kind of growth seen in stronger-performing peers, even though it has been more stable than the benchmark in some recent periods. A longer investment horizon should suit it better than a short holding period, because the return pattern suggests gradual compounding rather than sharp momentum.

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 applies as nil up to 10% of the investment and 0.25% for the remaining investment on or before 7 days. After the holding period, no exit load applies.

Source data date: as of 09 Sep 2026

Frequently asked questions

What is the current NAV of Bandhan Conservative Hybrid Fund Direct Growth Plan?

The current NAV is ₹37.2722 as of 09 Sep 2026.

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

The 1-year return is 3.78%, the 3-year return is 7.27% and the 5-year return is 5.83%.

How has the fund performed against the benchmark?

It has been ahead of the benchmark over 1 year and 3 months, and nearly in line with it over 5 years. The benchmark has been weaker over the 1-year window, while the fund has held up better in that period.

How does it compare with other conservative hybrid funds on returns?

Its 1-year, 3-year and 5-year returns are lower than the five peer funds listed here. The shorter-term gap is smaller than the longer-term gap, but several peers still show stronger compounding across the full periods shown.

What is the minimum SIP amount?

The minimum SIP amount is ₹100.

Who manages the fund and what is the exit load?

The fund is managed by Viraj Kulkarni and Harshal Joshi. Exit load is nil up to 10% of the investment and 0.25% for the remaining investment on or before 7 days, and there is no exit load after the holding period.

Bottom line

Bandhan Conservative Hybrid Fund Direct Growth Plan shows a mixed but steady profile: recent returns have been better than the benchmark in some windows, while the longer-run track record stays modest and trails several peer funds on the return figures shown here. The portfolio is built around a fairly concentrated core, with the largest holding at 12.96% and the top 10 holdings together forming a large share of the fund. Our view is that this suits investors who prefer a measured, medium-risk hybrid approach and are comfortable with gradual rather than fast compounding.

Published on 10 September 2026 at 9:59 AM 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.