Kotak Nifty SDL Plus AAA PSU Bond Jul 2028 60:40 Index Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Kotak Nifty SDL Plus AAA PSU Bond Jul 2028 60:40 Index Fund Direct Growth Plan has a NAV of ₹13.2939 as of 16 Sep 2026 and scheme AUM of ₹495 Cr. Its 1-year, 3-year and 5-year returns are 5.79%, 7.4% and 0%, and the fund sits in the Balanced Risk category.

Our view is that this is a relatively steady debt-oriented index strategy rather than a high-return equity substitute. The portfolio is anchored by state government securities and AAA/PSU-style debt exposure, so the fund may suit investors who want moderate return potential with a more measured risk profile and can stay invested for a medium-term horizon.

Quick facts

Particular	Details
NAV	₹13.2939 as of 16 Sep 2026
AUM	₹495 Cr
Expense Ratio	0.21%
Launch Date	13 Oct 2022
Min SIP	₹100
Risk Category	Balanced Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	No exit load
Fund Managers	Abhishek Bisen

The fund is managed by Abhishek Bisen.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.13%	-4.41%
3M	1.34%	-3.6%
1Y	5.79%	-7.76%
3Y	7.4%	5.74%
5Y	Data not available	Data not available

The recent pattern is better than the benchmark across all the disclosed shorter periods. Over 1 month and 3 months, the fund stayed in positive territory while the benchmark was negative, which tells us the underlying debt-heavy mix was more resilient through a weak phase for the reference index.

The 1-year result is also clearly ahead of the benchmark, and the 3-year figure remains positive. That said, the 3-year return is not dramatically high for an index fund designed around debt and SDL exposure, so the appeal is more about steadier compounding than fast growth. The return path also looks smoother than an equity-style fund, with only modest swings in the short-term series.

What matters for investors is that the short-term recovery does not change the overall picture: this is still a measured-return strategy. The 3-year trend suggests gradual accumulation rather than sharp jumps, while the missing 5-year figure means the fund does not yet have a full longer-history record to judge across a complete market cycle.

Compared with the benchmark, the fund has consistently held up better in the periods shown. Our view is that this reflects the structure of the portfolio more than any aggressive positioning, and that makes the fund more suitable for investors who value stability over upside chasing.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD Kotak Nifty SDL Plus AAA PSU Bond Jul 2028 60:40 Index?

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
Kotak Nifty SDL Plus AAA PSU Bond Jul 2028 60:40 Index Fund Direct Growth Plan	5.79%	7.4%	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	29.31%	30.01%	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	21.45%	Data not available	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	21.13%	Data not available	Data not available
Motilal Oswal Nifty MidSmall Financial Services Index Fund Direct Growth Plan	20.68%	Data not available	Data not available
ICICI Pru Nifty Pharma Index Fund Direct Growth Plan	17.57%	18.84%	Data not available

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

The fund’s 1-year return is far below the faster-growing peer funds shown here, but the comparison is not purely about upside. Its 3-year return of 7.4% is also below the peers with available multi-year figures, yet the fund’s debt-heavy structure means the return profile is built differently from the more growth-led peer examples.

That difference matters over time. Short-term peer gaps are wide, but the fund’s longer-term pattern is steadier and more defensive, so the peer story points to lower return ambition rather than poor execution. For investors, the short-term comparison and the longer-term comparison tell different stories: the fund gives up upside, but it also aims for a calmer ride.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
8.15% Tamil Nadu State Govt – 2028 – Tamil Nadu	Government Securities	17.96%
7.62% National Bank for Agriculture & Rural Development	Corporate Debt	8.61%
8.28% Tamil Nadu State Govt – 2028 – Tamil Nadu	Government Securities	7.8%
7.77% REC Ltd**	Corporate Debt	7.09%
8.56% Maharashtra State Govt – 2028 – Maharashtra	Government Securities	6.46%
8.05% Tamil Nadu State Govt – 2028 – Tamil Nadu	Government Securities	5.86%
8.35% Gujarat State Govt – 2028 – Gujarat	Government Securities	5.16%
7.77% Power Finance Corporation Ltd.**	Corporate Debt	4.05%
8.01% REC Ltd**	Corporate Debt	3.67%
7.59% Power Finance Corporation Ltd.**	Corporate Debt	3.63%

The largest holding is 8.15% Tamil Nadu State Govt – 2028 – Tamil Nadu at 17.96%, which is large enough to matter on its own. The tenth holding is 7.59% Power Finance Corporation Ltd.** at 3.63%, so the drop from first to tenth is steep and suggests the portfolio is led by a few meaningful positions rather than evenly spread across the top layer.

The top 10 holdings together account for approximately 70.29% of the portfolio, and the fund has 31 disclosed holdings in total. That combination suggests a fairly concentrated core with a longer tail beneath it. In our view, the largest positions are likely to have greater influence on returns than the smaller ones, especially because government securities and corporate debt dominate the visible list.

Even so, the spread across 31 holdings means the fund is not reliant on a single line item alone. The visible structure points to a core-and-tail profile: a handful of larger government and debt positions set the tone, while the rest of the portfolio may help broaden exposure around that core.

To see all holdings, visit the Kotak Nifty SDL Plus AAA PSU Bond Jul 2028 60:40 Index Fund Direct Growth Plan page

Source data date: as of 16 Sep 2026

Who should invest

This fund may fit investors with moderate risk tolerance who want a debt-oriented index strategy rather than equity-style growth. The Balanced Risk label and the holdings mix point to a portfolio that can be more stable than an equity fund, but the return profile also shows that the trade-off is lower upside.

A medium-term horizon is more sensible than a short holding period. The 3-year return pattern is positive, while the 1-year and 1-month numbers show that the fund can still move around, even if the swings are usually smaller than what equity investors may be used to. For investors who want steadier compounding and can accept a return path that is likely to be more subdued than the faster-growing peer examples, this fund is a reasonable fit.

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 16 Sep 2026

Frequently asked questions

What is the current NAV of Kotak Nifty SDL Plus AAA PSU Bond Jul 2028 60:40 Index Fund Direct Growth Plan?

The current NAV is ₹13.2939 as of 16 Sep 2026.

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

The fund’s 1-year return is 5.79%, the 3-year return is 7.4%, and the 5-year return is Data not available.

How does the fund compare with its benchmark?

It has outperformed the benchmark in the periods shown. The fund is positive across 1 month, 3 months, 1 year and 3 years, while the benchmark is negative over 1 month, 3 months and 1 year.

How does it compare with the peer funds shown here?

Its recent return is lower than the faster-growing peer examples listed here, and its 3-year return is also below the peers with multi-year data. The fund’s role is different, though, because its portfolio is built around government securities and AAA/PSU debt exposure.

Is there a minimum SIP amount?

The minimum SIP amount is ₹100.

Who manages the fund and what is the exit load?

The fund is managed by Abhishek Bisen. There is no exit load.

Bottom line

The fund’s recent return pattern is steadier than its benchmark, but its multi-year performance remains modest rather than standout. Compared with the peer examples shown here, it trails the stronger return seekers, yet that gap reflects a different portfolio style built around government securities and corporate debt. The Balanced Risk profile and the concentrated top holdings point to a fund that may suit investors looking for measured compounding and a more controlled ride, not those chasing sharp upside.

Published on 17 September 2026 at 5:11 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.