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

PGIM India Retirement Fund Direct Growth Plan has a NAV of ₹12.58 as of 17 Sep 2026 and a scheme AUM of ₹108 Cr. Its 1-year, 3-year and 5-year returns are -0.48%, 0% and 0%, and it sits in the High Risk category. Our view is that this is a fund for investors who can tolerate noticeable swings and are comfortable with a solution-oriented retirement allocation, but the short track record means the return history is still limited.

The fund’s recent pattern is mixed against the Nifty 50 benchmark, with a modest short-term recovery but a weaker 1-year outcome. The portfolio is spread across 82 holdings, and the largest positions are in banks, IT, finance and select industrial names, which gives the scheme a diversified large-cap tilt but still leaves the outcome dependent on equity-market conditions.

Quick facts

Particular	Details
NAV	₹12.58 as of 17 Sep 2026
AUM	₹108 Cr
Expense Ratio	0.7%
Launch Date	15 Apr 2024
Min SIP	₹1,000
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Solution Oriented
Exit Load	No exit load
Fund Managers	Vinay Paharia, Puneet Pal, Anandha Padmanabhan Anjeneyan, Sharma Vivek

The fund is managed by Vinay Paharia, Puneet Pal, Anandha Padmanabhan Anjeneyan and Sharma Vivek.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.53%	-3.66%
3M	0.96%	-3.71%
1Y	-0.48%	-7.13%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The recent picture is better than the benchmark over 3 months and 1 year, but the fund is still not delivering a strong absolute return over those periods. The 1-month move is negative, and that tells us the short-term path remains uneven rather than consistently upward.

Over 3 months, the fund has held up better than the Nifty 50, which suggests some resilience in a weak benchmark environment. The 1-year figure is also less negative than the benchmark, but both are still in negative territory, so the comparison is more about relative defence than strong wealth creation.

The time pattern also points to a fund that has gone through recovery phases after weaker stretches. That matters because the short-term gains have not yet built into a meaningful longer-term compounding record. With the scheme launched in April 2024, the 3-year and 5-year return fields are not available, so our reading has to stay anchored to the shorter history and the benchmark-relative movement available so far.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD PGIM India 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
PGIM India Retirement Fund Direct Growth Plan	-0.48%	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.

Against the peer set, the fund’s 1-year return is clearly weaker than every available peer figure in the table. That makes the current short-term record look restrained, especially when several peers have posted mid-single-digit to low-double-digit gains over the same horizon.

The longer-horizon comparison is also limited by the fund’s shorter history, because 3-year and 5-year returns are not available here. That leaves the peer read uneven: the scheme cannot yet be assessed on the same longer-term basis, while the comparison funds show meaningfully positive multi-year outcomes. Short-term stability is present in parts of the recent path, but the broader peer picture still points to a fund that has not yet established a comparable compounding record.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
ICICI Bank Ltd.	Bank	6.18%
HDFC Bank Ltd.	Bank	5.24%
Reliance Industries Ltd.	Crude Oil	3.25%
Clearing Corporation of India Ltd.	Cash & Cash Equivalents and Net Assets	2.94%
Infosys Ltd.	IT	2.6%
Tata Consultancy Services Ltd.	IT	2.34%
Solar Industries India Ltd.	Chemicals	2.13%
Multi Commodity Exchange of India Ltd.	Finance	1.94%
Doms Industries Ltd.	FMCG	1.91%
Bajaj Finance Ltd.	Finance	1.86%

The top 10 holdings account for approximately 30.39% of the portfolio.

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

The largest holding, ICICI Bank Ltd., is 6.18%, which is meaningful but not dominant on its own. The next few positions are also fairly close in size, with HDFC Bank Ltd. at 5.24% and Reliance Industries Ltd. at 3.25%, so the fund does not appear to rely on a single oversized bet.

Weight then tapers into smaller positions, and by the tenth holding the allocation is 1.86%. That drop suggests the portfolio is spread across a broad set of names rather than concentrated only at the top. At the same time, the top 10 holdings still make up about 30.39% of the portfolio, so a sizeable part of the scheme is likely to be influenced by a relatively small group of stocks even though 82 holdings are disclosed.

This mix may help balance stock-specific risk, but the fund can still be affected by movements in banks, IT and other large positions that sit near the top of the portfolio.

Source data date: as of 17 Sep 2026

Who should invest

This fund suits investors who are comfortable with High Risk exposure and can stay invested for a long period. The 1-year return is negative, while the 3-month reading is positive and better than the benchmark, so the near-term path has been uneven rather than smooth. That makes patience important.

The main trade-off is that the portfolio has a diversified large-cap tilt, but the scheme has a short operating history and has not yet built a long multi-year record. Investors who want a retirement-oriented equity allocation and can accept short-term volatility may find the structure understandable, but those seeking steady near-term gains may find the ride uncomfortable.

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 PGIM India Retirement Fund Direct Growth Plan?

The current NAV is ₹12.58 as of 17 Sep 2026.

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

The 1-year return is -0.48%, while the 3-year and 5-year returns are both 0% in the visible record.

How has the fund performed versus Nifty 50?

It has done better than Nifty 50 over 3 months and 1 year, but both the fund and the benchmark are still negative over the 1-year period.

How does it compare with the peer funds listed here?

The fund’s 1-year return is weaker than the available peer figures shown here, while its 3-year and 5-year fields are not available because of its shorter history.

What is the minimum SIP amount?

The minimum SIP amount is ₹1,000.

Who manages the fund, and what is the exit load?

The fund is managed by Vinay Paharia, Puneet Pal, Anandha Padmanabhan Anjeneyan and Sharma Vivek. The exit load is nil, so no exit load is charged on sale.

Bottom line

PGIM India Retirement Fund Direct Growth Plan has shown a better short-term footing than its benchmark, but the 1-year result is still negative and the fund does not yet have a long public return record. Compared with the peer set shown here, its current return profile looks softer, while the portfolio remains diversified across 82 holdings with a meaningful weight in banks and other large-cap names. Our view is that it fits investors who can handle High Risk exposure and prefer a retirement-oriented equity allocation with a long holding period.

Published on 18 September 2026 at 1:12 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.