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

Bandhan Retirement Fund Direct Growth Plan has a NAV of ₹12.951 as of 17 Sep 2026 and an AUM of ₹181 Cr. Its 1-year, 3-year and 5-year returns are -1.51%, 0% and 0%, and the scheme sits in the High Risk category. Our view is that this is a retirement-oriented solution with meaningful equity exposure and portfolio breadth, but its visible return track record is still short and uneven.

For investors, the main question is less about near-term comfort and more about whether they can stay invested through swings while the fund works through a longer compounding cycle. The mix of government securities, large private-sector financials and other quality businesses suggests a balance between stability and growth participation, but the recent return profile is still below a steady compounding pattern.

Quick facts

Particular	Details
NAV	₹12.951 as of 17 Sep 2026
AUM	₹181 Cr
Expense Ratio	0.7%
Launch Date	18 Oct 2023
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Solution Oriented
Exit Load	No exit load
Fund Managers	Vishal Biraia, Viraj Kulkarni, Gautam Kaul

The fund is managed by Vishal Biraia, Viraj Kulkarni and Gautam Kaul.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.1%	-3.66%
3M	-1.38%	-3.71%
1Y	-1.51%	-7.13%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The recent pattern is mixed but not weak relative to the benchmark. Over 1 month, the fund fell less than the benchmark, and the same is true over 3 months and 1 year, which tells us it has handled the latest stretch better than the index even though absolute returns remain negative.

The daily pattern over the last year shows a fund that moved through an extended soft patch and then recovered unevenly. That kind of path usually matters for retirement capital, because the ride can be as important as the final number. Here, the short-term recovery has not yet translated into positive trailing returns, so the evidence still points to a fund in the early phase of its track record.

Longer-term interpretation is limited by the fund’s age, but the available history does not show a smooth, persistent compounding line. In our view, that makes it harder to judge how it behaves across a full market cycle. The benchmark comparison is nevertheless useful: even with a negative 1-year return, the fund has been less weak than Nifty 50 over the same period.

For an investor, the key takeaway is that this is not a fund where recent returns suggest stable outperformance. Instead, it has been relatively resilient versus the benchmark during a difficult stretch, while still needing more time before any strong long-run conclusion can be drawn.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD Bandhan Retirement?

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 Retirement Fund Direct Growth Plan	-1.51%	Data not available	Data not available
Aditya Birla SL Retirement Fund-30 Direct Growth Plan	11.24%	14.92%	11.8%
ICICI Pru Retirement Fund-Hybrid Cons Plan Direct Growth Plan	5.05%	9.54%	8.61%
ICICI Pru Retirement Fund-Hybrid Aggressive Plan Direct Growth Plan	4.94%	16.38%	14.58%
ICICI Pru Retirement Fund-Pure Equity Plan Direct Growth Plan	4.9%	18.59%	18.74%
Tata Retirement Sav Fund – Prog Plan Direct Growth Plan	4.45%	12.25%	10.26%

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 peer group figures shown here, while several peers have positive double-digit gains over the same period. That gap makes the fund look cautious in the near term rather than strongly competitive on recent performance.

The longer-term picture is also mixed. Where peer funds have usable 3-year and 5-year records, those figures are comfortably positive, while this fund does not yet have a meaningful 3-year or 5-year trail to compare on the same terms. So the short-term comparison and the longer-term comparison tell different stories: the recent gap is clear, but the fund simply does not yet have enough age to be judged in the same way on longer horizons.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
7.3% GOI (MD 19/06/2053)	Government Securities	21.31%
Triparty Repo TRP_010926	Cash & Cash Equivalents and Net Assets	6.03%
Bharti Airtel Limited	Telecom	5.45%
Reliance Industries Limited	Crude Oil	5.08%
ICICI Bank Limited	Bank	4.8%
HDFC Bank Limited	Bank	4.09%
Titan Company Limited	Diamond & Jewellery	3.91%
Larsen & Toubro Limited	Infrastructure	3.81%
Kotak Mahindra Bank Limited	Bank	3.76%
Hitachi Energy India Limited	Capital Goods	2.75%

The top 10 holdings account for approximately 60.99% of the portfolio.

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

The largest holding, 7.3% GOI (MD 19/06/2053), is 21.31%, which is large enough to be a clear anchor in the portfolio. That single position may help temper volatility relative to a pure equity basket, even though the overall scheme remains in the High Risk bucket.

Weights then step down fairly gradually through the next few positions rather than collapsing after one or two names. By the tenth holding, the weight is 2.75%, so the top holdings still leave room for a visible tail of smaller positions. That shape suggests the fund is not overly dependent on a single equity idea, but it is also not fully diffuse.

With the top 10 accounting for 60.99% of the portfolio and 42 holdings disclosed, the structure looks moderately concentrated in the leading names while still spread across a broader set of holdings. In practical terms, the largest positions could have greater influence on outcomes, but the fund may still have some diversification benefit from the longer tail.

Source data date: as of 17 Sep 2026

Who should invest

This fund suits investors who can tolerate High Risk exposure and are comfortable with a retirement-style scheme that may move around in the short term. The recent return pattern shows that it has been less weak than the benchmark in a difficult year, but it still has not built a strong longer-term track record yet.

The most suitable horizon is long, because the scheme is only a few years old and the portfolio combines government securities with equity exposure. The main trade-off is between the possibility of steadier portfolio balance and the uncertainty that comes with a short history and uneven recent performance.

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 17 Sep 2026

Frequently asked questions

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

The current NAV is ₹12.951 as of 17 Sep 2026.

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

The 1-year return is -1.51%, while the 3-year and 5-year returns are Data not available.

How does the fund compare with Nifty 50?

It has done better than Nifty 50 over 1 month, 3 months and 1 year, but both the fund and the benchmark have negative 1-year returns.

How does it compare with the peer funds listed here?

Its 1-year return is below the peer funds shown here, while several peers have positive 3-year and 5-year records.

What is the minimum SIP amount?

The minimum SIP amount is ₹100.

Who manages the fund and what is its exit load?

The fund is managed by Vishal Biraia, Viraj Kulkarni and Gautam Kaul. The exit load is no exit load.

Bottom line

Bandhan Retirement Fund Direct Growth Plan has a short and uneven return history so far, with the latest year still negative even though it held up better than the benchmark. Relative to peers, the near-term return is weaker, while longer-term comparison is limited by the fund’s young age. The portfolio combines a large government-security holding with a broader equity mix, which may support balance but also leaves it in High Risk territory. Our view is that it fits investors with a long horizon who can accept early-stage uncertainty.

Published on 18 September 2026 at 9:41 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.