Bandhan Gilt Fund 10 Year Constant Duration Direct Plan NAV Returns July 2026

The Bandhan Gilt Fund 10 year constant duration Direct Plan is an open ended debt scheme from Bandhan Mutual Fund that invests in government securities while maintaining a portfolio duration close to 10 years at all times. As of , the NAV of this scheme stands at Rs 17.87, reflecting returns accumulated through multiple interest rate cycles since the scheme's inception.

Gilt funds with a constant duration mandate differ from dynamic gilt funds because they maintain a fixed maturity profile regardless of the prevailing interest rate environment. The Bandhan Gilt Fund 10 year constant duration Direct Plan keeps its portfolio Macaulay duration near 10 years consistently, giving investors a predictable and measurable interest rate risk exposure.

The Direct Plan structure means investors access this scheme without any distributor commission embedded in the expense ratio, resulting in a lower total expense ratio and better compounding of returns over time compared to the Regular Plan of the same scheme.

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Bandhan Gilt Fund 10 Year Constant Duration Direct Plan Fund Overview

Parameter	Details
Fund Name	Bandhan Gilt Fund with 10 Year Constant Duration Direct Plan
Fund House	Bandhan Mutual Fund
Category	Open Ended Debt Scheme Gilt Fund 10 Year Constant Duration
NAV	Rs 17.87
ISIN	INF194K01Q03
Plan Type	Direct Plan
Risk Level	Moderate to High
Benchmark	CRISIL Dynamic Gilt Index

What is Bandhan Gilt Fund 10 Year Constant Duration Direct Plan

The Bandhan Gilt Fund 10 year constant duration Direct Plan invests exclusively in government securities issued by the central government and state governments. The fund maintains its portfolio Macaulay duration close to 10 years at all times, which is mandated by SEBI's classification for this specific gilt fund category.

Government securities carry zero credit risk since they are backed by the sovereign guarantee of the Government of India. However the constant 10 year duration creates significant interest rate risk. When the 10 year government securities yield falls, the NAV of this scheme rises. When yields rise, the NAV falls correspondingly. This direct sensitivity to yield movements makes this fund suitable only for investors who understand and accept interest rate volatility.

The Direct Plan offers a meaningfully lower expense ratio compared to the Regular Plan of the same scheme. Over a 5 to 10 year investment horizon, the cost advantage of the Direct Plan compounds into a significant NAV difference, making the Bandhan Gilt Fund 10 year constant duration Direct Plan the preferred option for cost conscious investors accessing this scheme independently.

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NAV History and Return Profile

The Bandhan Gilt Fund 10 year constant duration Direct Plan NAV of Rs 17.87 as of reflects the cumulative returns generated since the scheme's launch. Gilt funds with a 10 year constant duration have historically delivered returns in the range of 7 to 10 percent per annum during falling rate environments and negative to flat returns during rate hike cycles.

The interest rate environment in India through 2025 and 2026 has seen the RBI transition towards an accommodative policy stance following the rate hike cycle of 2022 to 2024. This shift has been broadly positive for long duration gilt funds. Investors who entered this scheme during the peak rate environment and held through the subsequent easing cycle have likely seen meaningful NAV appreciation.

For accurate return analysis, investors should calculate absolute and annualised returns from their specific date of investment to the current NAV. Comparing scheme returns against the CRISIL Dynamic Gilt Index benchmark helps assess whether the fund manager has delivered value relative to the market.

Interest Rate Sensitivity Explained

The Bandhan Gilt Fund 10 year constant duration Direct Plan carries a modified duration of approximately 10 years. This means a 1 percentage point change in the 10 year government securities yield translates into approximately a 10 percent change in NAV in the opposite direction. A 50 basis point fall in yields would add approximately 5 percent to the NAV while a 50 basis point rise would reduce it by a similar magnitude.

This level of interest rate sensitivity is among the highest within the debt mutual fund universe. Equity like volatility is possible in this scheme during periods of sharp yield movement. Investors must have a clear understanding of this risk and a long enough investment horizon to ride out short term NAV volatility.

Who Should Invest in Bandhan Gilt Fund 10 Year Constant Duration Direct Plan

The Bandhan Gilt Fund 10 year constant duration Direct Plan is most suitable for sophisticated fixed income investors with a minimum 3 year investment horizon who actively track RBI monetary policy and government bond yield trends. It is also appropriate for investors looking to add long duration sovereign debt exposure to diversify an equity heavy portfolio.

This scheme is not suitable for conservative investors, retirees dependent on stable income, or anyone with a short term investment need. The high interest rate sensitivity means capital loss is possible in the short term if yields rise after investment.

Key Risks to Consider Before Investing

Interest rate risk is the dominant risk factor in the Bandhan Gilt Fund 10 year constant duration Direct Plan. Since the duration is kept constant near 10 years, the fund manager cannot reduce duration to protect NAV during a rate hike cycle. Liquidity risk is low as government securities are among the most liquid instruments in India's bond market. Credit risk is zero given the exclusive investment in sovereign backed securities.

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Conclusion

The Bandhan Gilt Fund 10 year constant duration Direct Plan with a NAV of Rs 17.87 as of offers investors pure play exposure to long duration government securities with sovereign credit quality and zero distributor commission costs. It suits informed debt investors who understand interest rate dynamics and have a medium to long term investment horizon. Always verify NAV data from official sources and consult a SEBI registered financial advisor before making investment decisions.

Frequently Asked Questions on Bandhan Gilt Fund 10 Year Constant Duration Direct Plan

What is the NAV of Bandhan Gilt Fund 10 year constant duration Direct Plan?

Ans. The NAV of Bandhan Gilt Fund 10 year constant duration Direct Plan is Rs 17.87 as of . NAV is updated every business day based on government securities yield movements in the market.

What is the ISIN of Bandhan Gilt Fund 10 year constant duration Direct Plan?

Ans. The ISIN of Bandhan Gilt Fund 10 year constant duration Direct Plan is INF194K01Q03. This unique identifier can be used to track this specific scheme variant across investment platforms and transaction records.

Is Bandhan Gilt Fund 10 year constant duration Direct Plan safe to invest?

Ans. The fund carries zero credit risk as it invests only in government securities backed by the sovereign guarantee of India. However it carries high interest rate risk due to the mandatory 10 year constant duration. NAV can fall significantly when bond yields rise. This scheme is not capital protected.

Who should invest in Bandhan Gilt Fund 10 year constant duration Direct Plan?

Ans. This fund is most suitable for sophisticated debt investors with a minimum 3 year investment horizon who understand interest rate dynamics and have a view that bond yields will remain stable or decline during their holding period. It is not suitable for conservative or short term investors.

What is the advantage of Direct Plan over Regular Plan in Bandhan Gilt Fund?

Ans. The Direct Plan has a lower total expense ratio compared to the Regular Plan as it does not include distributor commission. Over a 5 to 10 year period, this cost advantage compounds into a meaningful NAV difference and better net returns for investors in the Direct Plan.

How does 10 year constant duration work in this gilt fund?

Ans. The fund manager maintains the portfolio Macaulay duration close to 10 years at all times irrespective of the interest rate environment. A 1 percentage point change in the 10 year government bond yield creates approximately a 10 percent change in NAV in the opposite direction. This gives investors a consistent and measurable interest rate risk exposure.

What is the benchmark of Bandhan Gilt Fund 10 year constant duration Direct Plan?

Ans. The benchmark of this scheme is the CRISIL Dynamic Gilt Index. Investors should evaluate the scheme's rolling returns against this benchmark over 1 year, 3 year and 5 year periods to assess whether the fund manager has generated alpha relative to the market benchmark.

Where can I track NAV of Bandhan Gilt Fund 10 year constant duration Direct Plan daily?

Ans. You can track the daily NAV of Bandhan Gilt Fund 10 year constant duration Direct Plan on the AMFI website, Bandhan Mutual Fund website, or on investment platforms like Univest. Download the Univest iOS App or Univest Android App for real time NAV alerts and research backed recommendations.