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

Updated: 10 Sept 2026 • 1:47 pm

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

UTI Gilt Fund Direct Growth Plan has a NAV of ₹68.2173 as of 09 Sep 2026 and scheme AUM of ₹419 Cr. Its 1-year, 3-year and 5-year returns are 5.17%, 6.73% and 5.77%, and the fund sits in the Medium Risk category.

Our view is that this is a steady debt fund for investors who want government-securities exposure with a relatively measured return profile. The portfolio is dominated by sovereign and quasi-sovereign papers, which can help keep credit quality high, though returns have also stayed close to benchmark movement over time.

Table of Contents

Quick facts

Particular	Details
NAV	₹68.2173 as of 09 Sep 2026
AUM	₹419 Cr
Expense Ratio	0.64%
Launch Date	01 Jan 2013
Min SIP	₹500
Risk Category	Medium Risk
Benchmark	Nifty 50
Fund Category	Debt
Exit Load	No exit load after holding period
Fund Managers	Pankaj Pathak

The fund is managed by Pankaj Pathak.

Source data date: as of 09 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-0.6%	-4.69%
3M	0.87%	0.93%
1Y	5.17%	-7.16%
3Y	6.73%	6%
5Y	5.77%	5.87%

The short-term picture is mixed but not weak. Over 1 month, the fund was down less than the benchmark, while the benchmark also fell more sharply. Over 3 months, both moved in a narrow band, with the fund slightly behind the index on that slice.

The more important takeaway is the 1-year gap: the fund held a positive 5.17% while the benchmark was negative at -7.16%. That tells us the fund has handled the latest period materially better than the benchmark, even if the longer pattern is not a one-way trend.

Over 3 years, the fund’s 6.73% return is comfortably better than the benchmark’s 6%, which suggests the recent 12-month strength did not come out of nowhere. At 5 years, the fund’s 5.77% is close to the benchmark’s 5.87%, so the longer compounding profile is broadly in line with the index rather than sharply ahead of it.

The return path also looks uneven rather than smooth. There were phases of gain, pauses and small pullbacks, which is what we would expect from a gilt portfolio that is sensitive to rate movements. For investors, that means the fund can deliver periods of resilience, but its path is still shaped by interest-rate cycles rather than by equity-style growth.

Source data date: as of 09 Sep 2026

Should you BUY or HOLD UTI 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 UTI Gilt? Thinking of investing now?

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Peer comparison

Fund	1Y return	3Y return	5Y return
UTI Gilt Fund Direct Growth Plan	5.17%	6.73%	5.77%
Bandhan Gilt Fund Direct Growth Plan	7.94%	8%	6.38%
Franklin India Gilt Fund Direct Growth Plan	6.38%	6.62%	5.47%
Bandhan 10 year Constant Maturity Gilt Fund Direct Growth Plan	5.44%	7.85%	5.92%
ICICI Pru Gilt Fund Direct Growth Plan	5.23%	7.3%	6.65%

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

On 1-year performance, the fund trails the stronger peer return figures visible here, with Bandhan Gilt Fund Direct Growth Plan and Franklin India Gilt Fund Direct Growth Plan both ahead on the same period. The gap is narrower versus ICICI Pru Gilt Fund Direct Growth Plan, but the current fund does not lead this group on the latest period.

Over 3 years, the fund sits below Bandhan Gilt Fund Direct Growth Plan, Bandhan 10 year Constant Maturity Gilt Fund Direct Growth Plan and ICICI Pru Gilt Fund Direct Growth Plan, while staying close to Franklin India Gilt Fund Direct Growth Plan. The 5-year picture is also mixed: it is above Franklin India Gilt Fund Direct Growth Plan, but below Bandhan Gilt Fund Direct Growth Plan, Bandhan 10 year Constant Maturity Gilt Fund Direct Growth Plan and ICICI Pru Gilt Fund Direct Growth Plan. That makes the fund’s short-term recovery look decent, but its multi-year record less distinctive than the strongest peer figures in the table.

Source data date: as of 09 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
6.90% Gsec Mat – 15/04/2065	Government Securities	45.44%
6.79% Ni Gsec Mat 15/05/2027	Government Securities	23.99%
7.24% Gsec Mat- 18/08/2055	Government Securities	9.18%
364 Days T-Bill – 04/03/2027	Treasury Bills	7.33%
Net Current Assets	Cash & Cash Equivalents and Net Assets	6.8%
7.18% TN SDL 26/07/2027	Government Securities	3.61%
07.30% Uttarakhand SGS Mat – 01/10/2032	Government Securities	2.03%
7.77% Andhra Pradesh SGS – 10/01/2028	Government Securities	1.21%

The largest holding is 6.90% Gsec Mat – 15/04/2065 at 45.44%, which is a very large single position for a debt fund. That size means the fund’s duration view on that security is likely to have a greater influence on returns than the smaller lines below it.

Weights fall away sharply after the top two holdings. The second position is 23.99%, and by the third holding the weight is 9.18%; the smallest disclosed position is 1.21%. That slope suggests the portfolio is not evenly spread across all holdings, even though the securities are high quality.

The top disclosed holdings account for 99.59% of the portfolio across 8 holdings, so the visible portfolio is highly concentrated in a small number of sovereign and quasi-sovereign instruments. That concentration may help keep credit risk restrained, but it also means rate sensitivity in a few papers could matter more than in a broader, more diversified debt mix.

Source data date: as of 09 Sep 2026

Who should invest

This fund suits investors who are comfortable with Medium Risk and want a debt-oriented portfolio rather than an aggressive return-seeking product. The return pattern shows reasonable medium-term stability, but not a straight upward line, so the better fit is a patient investor with a multi-year horizon.

The main trade-off is that the portfolio leans heavily on government securities, which can support credit quality, but returns still move with interest-rate conditions and may lag stronger peer periods. Investors who want relatively orderly debt exposure and can accept moderate fluctuations may find the profile suitable.

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

No exit load after holding period.

Source data date: as of 09 Sep 2026

Frequently asked questions

What is the current NAV of UTI Gilt Fund Direct Growth Plan?

The current NAV is ₹68.2173 as of 09 Sep 2026.

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

The fund’s 1-year, 3-year and 5-year returns are 5.17%, 6.73% and 5.77%.

How does the fund compare with its benchmark?

It has outpaced the benchmark over 1 year and 3 years, while the 5-year return is broadly similar to the benchmark.

How does it compare with the peer funds listed here?

Its latest 1-year return is below the stronger peer figures shown, while the 3-year and 5-year readings are mixed and generally sit below the leading peer numbers.

Is there a minimum SIP amount?

The fund allows SIPs, but a minimum SIP amount is not shown here.

Who manages the fund and what is the exit load?

The fund is managed by Pankaj Pathak. There is no exit load after the holding period.

Bottom line

UTI Gilt Fund Direct Growth Plan has shown a better recent stretch than its benchmark, while its 3-year record is also ahead and its 5-year outcome stays close to the index. Against the peer set shown here, the latest return is decent but not the strongest, and the longer-term record is mixed rather than standout. The portfolio is heavily anchored in government securities, which supports credit quality but also keeps the fund closely tied to interest-rate moves. That makes it more suitable for patient debt investors who can accept moderate fluctuations.

Published on 10 September 2026 at 1:44 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.