Baroda BNP Paribas Gilt Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Updated: 5 Sept 2026 • 2:56 pm

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Baroda BNP Paribas Gilt Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Baroda BNP Paribas Gilt Fund Direct Growth Plan has a NAV of ₹48.3252 as of 04 Sep 2026 and an AUM of ₹574 Cr. Its 1-year, 3-year and 5-year returns are 4.09%, 6.57% and 5.67%, respectively, and the scheme is tagged under Medium Risk. Our view is that it fits conservative debt investors who want sovereign-bond exposure with a relatively stable long-term pattern, though the near-term return path has been uneven.

The fund’s portfolio is heavily anchored in government securities and treasury bills, which supports its gilt profile. That mix can suit investors who prefer interest-rate driven debt exposure over credit risk, but the returns have moved in a moderate band rather than showing sharp outperformance.

Table of Contents

Quick facts

Particular	Details
NAV	₹48.3252 as of 04 Sep 2026
AUM	₹574 Cr
Expense Ratio	0.14%
Launch Date	01 Jan 2013
Min SIP	₹500
Risk Category	Medium Risk
Benchmark	Nifty 50
Fund Category	Debt
Exit Load	No exit load
Fund Managers	Gurvinder Singh Wasan, Prashant Pimple

The fund is managed by Gurvinder Singh Wasan and Prashant Pimple.

Source data date: as of 04 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-0.39%	-2.95%
3M	2.01%	2.27%
1Y	4.09%	-4.43%
3Y	6.57%	5.88%
5Y	5.67%	6.29%

The one-month return is slightly negative, but it is still better than the benchmark’s deeper decline over the same period. That tells us the fund has been relatively resilient in a weak short-term stretch, even if the recent path has not been smooth.

The three-month return is modest and close to the benchmark, which suggests the fund has tracked the broader rate environment rather than breaking away from it. In a gilt fund, that kind of movement usually reflects changing bond yields more than credit events, and the pattern here looks consistent with that profile.

The one-year figure stands out because the fund stayed positive while the benchmark was negative. That is a clear improvement versus the index on a 1-year basis, even though the absolute return is still moderate for a debt scheme. Over three years, the fund remains ahead of the benchmark, which supports the case for a steadier medium-term compounding pattern.

Over five years, the benchmark has been ahead by a small margin. So the picture is mixed: the fund has looked stronger over 1 year and 3 years, but the longer five-year window shows that it has not consistently outpaced the benchmark across all cycles. The recent trend is therefore better than the weakest benchmark periods, but not strong enough to call it a clear long-term winner across every horizon.

Source data date: as of 04 Sep 2026

Should you BUY or HOLD Baroda BNP Paribas Gilt?

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.

Already holding Baroda BNP Paribas Gilt? Thinking of investing now?

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Peer comparison

Fund	1Y return	3Y return	5Y return
Baroda BNP Paribas Gilt Fund Direct Growth Plan	4.09%	6.57%	5.67%
Bandhan Gilt Fund Direct Growth Plan	7.97%	8%	6.37%
Franklin India Gilt Fund Direct Growth Plan	6.66%	6.62%	5.44%
UTI Gilt Fund Direct Growth Plan	6.01%	6.68%	5.73%
Bandhan 10 year Constant Maturity Gilt Fund Direct Growth Plan	5.57%	7.85%	5.88%
ICICI Pru Gilt Fund Direct Growth Plan	5.33%	7.28%	6.68%

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

On the latest one-year window, the fund trails the stronger peer figures in this set, while its three-year return is more middle-of-the-pack among the names shown. The five-year number is also in the lower half of the group, so the longer view is less persuasive than the recent three-year stretch.

The short-term and longer-term comparisons do not tell exactly the same story. Recent performance is softer than several peers, but the fund’s three-year figure is still reasonable, which suggests the return path has been more stable than the weakest short-term snapshot may imply.

Source data date: as of 04 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
7.24% Government of India (18/08/2055)	Government Securities	21.77%
182 Days Tbill (MD 10/09/2026)	Treasury Bills	17.37%
Clearing Corporation of India Ltd	Cash & Cash Equivalents and Net Assets	15.37%
6.9% Government of India (15/04/2065)	Government Securities	12.06%
6.36% Government of India (16/02/2031)	Government Securities	10.05%
91 Days Tbill (MD 22/10/2026)	Treasury Bills	8.63%
7.09% Government of India (05/08/2054)	Government Securities	6.24%
7.11% State Government Securities (17/03/2031)	Government Securities	3.47%
7.18% Government of India (14/08/2033)	Government Securities	2.31%
6.94% Government of India (11/05/2036)	Government Securities	0.87%

The top 10 holdings account for approximately 98.14% of the portfolio.

To see all holdings, visit the Baroda BNP Paribas Gilt Fund Direct Growth Plan page

The largest holding is 7.24% Government of India (18/08/2055) at 21.77%, which is a meaningful single-line position in a sovereign-debt portfolio. The next few holdings also carry double-digit weights, so the fund appears to lean on a small set of large exposures rather than spreading assets evenly across many tiny positions.

The drop from the first holding to the tenth is steep, from 21.77% to 0.87%. That tells us the portfolio may be influenced most by the top few securities, especially the two large government bond lines, the treasury-bill positions and the cash-like allocation through Clearing Corporation of India Ltd.

With 98.14% of the portfolio shown across the top 10 disclosed holdings and 12 total holdings disclosed, the fund looks quite concentrated within its visible book. Even so, concentration is not unusual for a gilt strategy, and in this case it mainly reflects a focus on sovereign instruments rather than diversified credit exposure.

Source data date: as of 04 Sep 2026

Who should invest

This fund may suit investors who are comfortable with a Medium Risk debt scheme and who can stay invested through a full rate cycle. The 1-year return is weaker than the three- and five-year numbers, so the experience has been uneven in the short run even though the medium-term pattern is better.

Our view is that it is more suitable for a longer horizon than for a quick parking of money, because gilt funds can move with interest-rate shifts. The main trade-off is that the portfolio stays close to sovereign securities, which keeps credit risk low, but it can still deliver uneven returns when bond yields move against the fund.

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 04 Sep 2026

Frequently asked questions

What is the current NAV of Baroda BNP Paribas Gilt Fund Direct Growth Plan?
The current NAV is ₹48.3252 as of 04 Sep 2026. It gives a current snapshot of the scheme’s unit value.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year, 3-year and 5-year returns are 4.09%, 6.57% and 5.67%, respectively. The longer two windows look steadier than the most recent one-year period.

How does the fund compare with its benchmark?
It has been ahead of the benchmark over 1 year and 3 years, but behind over 5 years. That means the comparison is mixed rather than one-sided.

How does it compare with the other gilt funds shown here?
Its one-year return trails several of the peer funds shown, while the three-year figure is more competitive. The five-year return is also not the strongest among the funds listed.

What is the minimum SIP amount?
The minimum SIP amount is ₹500. That makes the scheme accessible for regular monthly investing.

What are the fund’s risk, portfolio style and exit load?
The fund is tagged as Medium Risk and is concentrated in government securities, treasury bills and cash-equivalent holdings. It has no exit load, so redemptions do not carry an exit-charge under the stated rule.

Bottom line

Baroda BNP Paribas Gilt Fund Direct Growth Plan has a mixed return profile: the 1-year figure is softer, while the 3-year number is better and the 5-year outcome is more moderate. Against the benchmark, it has done better over shorter stretches and slightly worse over five years. The portfolio is concentrated in sovereign securities and treasury bills, which fits a debt investor who values credit quality and can tolerate interest-rate swings rather than seeking steady, always-smooth returns.

Published on 5 September 2026 at 2:55 PM IST

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.