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

Groww Gilt Fund Direct Growth Plan is a debt fund with a current NAV of ₹10.0097 as of 15 September 2026 and scheme AUM of ₹35 Cr. Its 1-year, 3-year and 5-year returns are 1.55%, 0% and 0% respectively, and the scheme is tagged as Medium Risk. In our view, the fund currently looks suited to conservative debt allocation only if an investor wants a gilt-heavy structure with limited credit exposure and is comfortable with modest return visibility so far.

The fund’s recent performance has been uneven, but the portfolio is built almost entirely from sovereign and cash-like instruments, which supports the lower-volatility profile described for the scheme. That combination makes it more about capital preservation and interest-rate sensitivity than about high return generation.

Quick facts

Particular	Details
NAV	₹10.0097 as of 15 Sep 2026
AUM	₹35 Cr
Expense Ratio	0.5%
Launch Date	09 May 2025
Min SIP	₹500
Risk Category	Medium Risk
Benchmark	Nifty 50
Fund Category	Debt
Exit Load	No exit load
Fund Managers	Kaustubh Sule, Wilfred Gonsalves

The fund is managed by Kaustubh Sule and Wilfred Gonsalves.

Source data date: as of 15 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-0.63%	-4.81%
3M	0.52%	-3.63%
1Y	1.55%	-8.27%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

Recent behaviour has been stable rather than exciting. Over 1M and 3M, the fund stayed close to the ₹10 NAV line, with only a mild dip in the latest month and a small gain over three months. That suggests the scheme has not been chasing sharp short-term moves, which is consistent with a gilt fund that is primarily exposed to government securities and cash positions.

The 1-year return of 1.55% is positive, but it remains modest in absolute terms. The benchmark comparison is more striking: the listed benchmark shows a negative return across 1M, 3M and 1Y, while the fund stayed in positive territory over 3M and 1Y. That tells us the scheme has held up better than the benchmark during a weak period for the index.

The longer-term picture is limited because 3Y and 5Y figures are not available for this scheme yet. On the charted one-year path, the fund shows small swings rather than a smooth monotonic climb, so our view is that the recent gain has come with low amplitude but not with strong compounding yet. For a debt investor, that means the scheme has behaved defensively, but the return base is still narrow.

Source data date: as of 15 Sep 2026

Should you BUY or HOLD Groww 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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Groww Gilt Fund Direct Growth Plan	1.55%	Data not available	Data not available
Bandhan Gilt Fund Direct Growth Plan	7.66%	7.9%	6.35%
Franklin India Gilt Fund Direct Growth Plan	5.92%	6.47%	5.37%
UTI Gilt Fund Direct Growth Plan	4.96%	6.54%	5.65%
Bajaj Finserv Gilt Fund Direct Growth Plan	4.46%	Data not available	Data not available
Bandhan 10 year Constant Maturity Gilt Fund Direct Growth Plan	4.35%	7.53%	5.73%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the available return figures, the fund trails the stronger peer outcomes on both 1-year and longer-horizon numbers where those are available. The gap is especially visible because the peer group includes schemes with much stronger 3-year and 5-year histories, while this fund has only a modest 1-year result so far. The short-term and long-term comparisons therefore tell different stories: recent stability is visible, but the return record is still lighter than the established peer set.

Source data date: as of 15 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
364 Days Treasury Bill 10-Sep-2026	Treasury Bills	42.4%
7.71% GOI 18-May-2066	Government Securities	28.56%
182 Days Treasury Bill 03-Sep-2026	Treasury Bills	14.15%
Reverse Repo 01-Sep-26	Cash & Cash Equivalents and Net Assets	13.94%
Net Receivable/Payable	Cash & Cash Equivalents and Net Assets	0.84%

The largest holding is the 364 Days Treasury Bill 10-Sep-2026 at 42.4%, so a single sovereign money-market style position carries a very large share of the portfolio. That is followed by 7.71% GOI 18-May-2066 at 28.56%, which keeps the structure anchored in government paper rather than corporate credit.

Weight then falls to 14.15% for the 182 Days Treasury Bill 03-Sep-2026 and 13.94% for Reverse Repo 01-Sep-26. The fifth and final disclosed line is only 0.84%, so the displayed holdings drop sharply after the top four positions. Because the portfolio discloses only five holdings and the combined disclosed weight is 99.89%, the scheme appears highly concentrated in a short list of sovereign and cash-like instruments rather than spread across a long tail.

That concentration may reduce credit risk, but it can also make performance more sensitive to interest-rate movement in the underlying government securities. In our view, the structure fits a gilt fund that is designed to stay close to sovereign debt and liquidity instruments, with very limited room for anything outside that core.

Source data date: as of 15 Sep 2026

Who should invest

This fund may suit investors who are comfortable with a Medium Risk debt scheme and want exposure concentrated in government securities and cash-like positions. The return pattern points to modest gains rather than strong compounding, so the better fit is a medium- to longer-horizon investor who can accept that gilt returns may move around with interest-rate conditions.

The main trade-off is clear: the portfolio’s sovereign bias may help keep credit risk low, but the latest return history is still relatively muted compared with stronger peer records. For investors who want a debt allocation that stays close to government paper and are not expecting equity-like upside, the structure is understandable. For anyone looking for fast growth, the present return profile does not support that expectation.

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 Groww Gilt Fund Direct Growth Plan?

The current NAV is ₹10.0097 as of 15 September 2026.

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

The fund’s 1-year return is 1.55%, while the 3-year and 5-year returns are Data not available.

How has the fund performed versus its benchmark?

The fund has held up better than the benchmark over 1M, 3M and 1Y. The benchmark return is negative across those periods, while the fund remains slightly positive over 3M and 1Y.

How does it compare with peer gilt funds?

Its 1-year return is lower than the peer funds listed here, and the peer set also shows stronger 3-year and 5-year records where available. The difference is most visible in the longer-horizon figures.

What is the minimum SIP amount?

The minimum SIP amount is ₹500.

Who manages the fund and what does the portfolio look like?

The fund is managed by Kaustubh Sule and Wilfred Gonsalves. The portfolio is concentrated in treasury bills, a long-dated government security, reverse repo and receivables, with the largest disclosed holding at 42.4%.

Bottom line

Groww Gilt Fund Direct Growth Plan has shown a modest but positive 1-year return while the benchmark has stayed weak over the same windows. The longer-horizon peer data available here looks stronger than this fund’s current record, so the scheme reads more like a cautious sovereign-debt allocation than a return leader. Its Medium Risk tag and heavy tilt toward treasury bills and government securities make the portfolio defensively structured, but the trade-off is limited return momentum so far.

Published on 16 September 2026 at 4:21 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.