Lending to banks and government companies
Past returns do not tell you future returns. Tap a dotted word to see what it means.
Against NIFTY Banking & PSU Debt Index A-II
This fund's price history here starts on 3 Apr 2006, so its longest figures run from then.
| Return | This fund | Similar funds | Rank | |
|---|---|---|---|---|
| 1 month | +0.0% | — | — | — |
| 3 months | +0.2% | — | — | — |
| 6 months | +2.3% | — | — | — |
| 1 year | +3.9% | +3.7% | +3.8% | 7 of 20 |
| 3 years, a year | +6.7% | +6.4% | +6.5% | 4 of 19 |
| 5 years, a year | +5.8% | +5.6% | +5.8% | 6 of 17 |
| Since 3 Apr 2006, a year | +7.3% | — | — | — |
Every one-year and three-year stretch in its history (): how many ended up, the worst, the typical and the best.
What an investment in this fund would be worth today
₹10,000 on the first price of each month, valued at the NAV of 3 Nov 2026. Past returns do not tell you future returns.
61 monthly instalments from 3 Nov 2021, valued at the NAV of 3 Nov 2026. A yearly return of 6.2%.
How bumpy it has been, and how far it has fallen
How widely the price swung (volatility). Lower is steadier.
The deepest drop from a high before it recovered (drawdown).
Return above cash for each unit of bumpiness. Higher is better.
Like Sharpe, counting only the falls.
52-week range: ₹44.06 (4 Nov 2025) to ₹45.85 (9 Sept 2026). Now 0.2% below the high.
Its yearly expense ratio, and how much money it manages
Of the 0.42%, 0.36% is the fund house's fee and 0.06% is trading costs and taxes, which move from month to month with the fund's buying and selling.
The fund house cut its fee from 0.41% to 0.36% on 1 Apr 2026. Every expense ratio change in April 2026
The expense ratio is taken out of the fund every day, so the NAV and every return on this page are already after it. How the expense ratio works
Nil
28 holdings, as of 30 Sept 2026
| HDFC Bank Ltd - 7.7% - 16/05/2028 ICRA AAA | 9.67% | +0.1% | — |
| National Housing Bank - 7.59% - 14/07/2027 CRISIL AAA | 7.76% | +0.1% | — |
| Export Import Bank of India - 7.35% - 27/07/2028 ICRA AAA | 7.73% | +0.1% | — |
| Cash and Other Net Current Assets | 6.06% | +3.1% | — |
| Indian Oil Corporation Ltd - 7.44% - 25/11/2027 ICRA AAA | 5.82% | +0.1% | — |
| TREPS | 4.06% | -0.7% | — |
| National Bank for Agriculture & Rural Development - 7.53% - 24/03/2028 ICRA AAA | 3.86% | +0.1% | — |
| Power Finance Corporation Ltd - 6.73% - 15/10/2027 CRISIL AAA | 3.85% | +0.1% | — |
| Indian Railway Finance Corporation Ltd - 7.37% - 31/07/2029 ICRA AAA | 3.85% | +0.0% | — |
| Power Finance Corporation Ltd - 6.96% - 02/03/2028 CRISIL AAA | 3.84% | — | New |
| Small Industries Development Bank of India - 7.42% - 12/03/2029 CRISIL AAA | 3.84% | +0.0% | — |
| National Bank for Financing Infrastructure and Development - 7.37% - 16/07/2029 CRISIL AAA | 3.83% | +0.0% | — |
| Bajaj Finance Ltd - 7.11% - 10/07/2028 CRISIL AAA | 3.81% | +0.0% | — |
| National Bank for Agriculture & Rural Development - 6.66% - 12/10/2028 ICRA AAA | 3.80% | +0.1% | — |
| State Bank of India - 6.93% - 20/10/2035** - Call Dt : 09-Oct-2030 ICRA AAA | 3.76% | 0.0% | — |
| REC LTD - 7.28% - 31/08/2029 CRISIL AAA | 3.25% | +0.0% | — |
| HDB Financial Services Ltd - 7.9611% - 05/01/2028 CRISIL AAA | 1.93% | +0.0% | — |
| Indian Railway Finance Corporation Ltd - 7.46% - 18/06/2029 CRISIL AAA | 1.93% | +0.0% | — |
| Bharti Telecom Ltd - 7.35% - 15/10/2027 CRISIL AAA | 1.92% | +0.0% | — |
| National Bank for Agriculture & Rural Development - 7.44% - 17/07/2029 CRISIL AAA | 1.92% | +0.0% | — |
| Housing & Urban Development Corporation Ltd - 7.23% - 18/07/2029 ICRA AAA | 1.91% | +0.0% | — |
| Small Industries Development Bank of India - 7.22% - 10/04/2029 CRISIL AAA | 1.91% | +0.0% | — |
| REC LTD - 7.34% - 30/04/2030 CRISIL AAA | 1.91% | +0.0% | — |
| Small Industries Development Bank of India - 7.04% - 09/02/2029 CRISIL AAA | 1.91% | +0.0% | — |
| 6.45% Gujarat State Development Loan - 06/01/2030 Sovereign | 1.89% | +0.0% | — |
| 6.53% Tamil Nadu State Development Loan 06/01/2031 Sovereign | 1.88% | — | New |
| REC LTD - 6.52% - 31/01/2028 ICRA AAA | 1.53% | +0.0% | — |
| Corporate Debt Market Development Fund - Class A2 | 0.54% | +0.0% | — |
The share of the fund in its ten largest holdings. The higher it is, the more the fund depends on a few of them.
From the fund house's monthly portfolio disclosure.
Between the portfolios of 31 Aug 2026 and 30 Sept 2026, the fund added 2 holdings and left 4; 7 holdings gained weight and 0 lost weight.
None
The weight of today's ten largest holdings in each of the last 6 portfolios.
| Holding | Apr 2026 | May 2026 | Jun 2026 | Jul 2026 | Aug 2026 | Sep 2026 |
|---|---|---|---|---|---|---|
| HDFC Bank Ltd - 7.7% - 16/05/2028 | 9.0% | 8.9% | 9.0% | 9.6% | 9.6% | 9.7% |
| National Housing Bank - 7.59% - 14/07/2027 | 7.2% | 7.1% | 7.2% | 7.7% | 7.7% | 7.8% |
| Export Import Bank of India - 7.35% - 27/07/2028 | 7.2% | 7.1% | 7.2% | 7.7% | 7.6% | 7.7% |
| Indian Oil Corporation Ltd - 7.44% - 25/11/2027 | 5.4% | 5.3% | 5.4% | 5.8% | 5.8% | 5.8% |
| National Bank for Agriculture & Rural Development - 7.53% - 24/03/2028 | 3.6% | 3.6% | 3.6% | 3.8% | 3.8% | 3.9% |
| Indian Railway Finance Corporation Ltd - 7.37% - 31/07/2029 | 3.6% | 3.5% | 3.6% | 3.9% | 3.8% | 3.9% |
| Power Finance Corporation Ltd - 6.73% - 15/10/2027 | 3.6% | 3.5% | 3.5% | 3.8% | 3.8% | 3.9% |
| Power Finance Corporation Ltd - 6.96% - 02/03/2028 | — | — | — | — | — | 3.8% |
| Small Industries Development Bank of India - 7.42% - 12/03/2029 | — | — | — | 3.8% | 3.8% | 3.8% |
| National Bank for Financing Infrastructure and Development - 7.37% - 16/07/2029 | — | — | 3.6% | 3.8% | 3.8% | 3.8% |
Equity, debt and cash in each of the last 6 portfolios.
| Share of the fund | Apr 2026 | May 2026 | Jun 2026 | Jul 2026 | Aug 2026 | Sep 2026 |
|---|---|---|---|---|---|---|
| Equity | 80.3% | 75.8% | 83.7% | 85.7% | 86.5% | 89.3% |
| Debt | 7.2% | 14.2% | 8.8% | 5.7% | 5.8% | 0.5% |
| Cash and other | 12.6% | 10.0% | 7.6% | 8.5% | 7.7% | 10.1% |
Overlap is the part of two portfolios that is the same, by weight: 100% would be identical.
Check its overlap with any fund, by holdings, industry and sector
To generate income and capital appreciation by predominantly investing in debt instruments of Banks, Public Sector Undertakings, Public Financial Institutions and Municipal Bonds. No Guarantee: Investors are neither being offered any guaranteed/indicated returns nor any guarantee on repayment of capital by the Scheme. There is also no guarantee of capital or return either by the mutual fund or by the sponsor or by the Asset management Company.
The largest funds with the same mandate
| +3.9% | +6.7% | +5.8% | 0.42% | ₹256 cr | |
| +4.8% | +6.7% | +5.9% | 0.68% | ₹11,857 cr | |
| +3.7% | +6.4% | +5.8% | 0.65% | ₹11,830 cr | |
Aditya Birla Sun Life Banking & PSU Debt Fund Aditya Birla Sun Life | +3.2% | +6.4% | +5.8% | 0.75% | ₹8,348 cr |
ICICI Prudential Banking and PSU Debt Fund ICICI Prudential | +4.0% | +6.6% | +6.1% | 0.74% | ₹8,099 cr |
| +4.0% | +6.6% | +5.7% | 0.78% | ₹7,251 cr | |
| +3.2% | +6.4% | +5.7% | 0.68% | ₹5,064 cr | |
Nippon India Banking and PSU Debt Fund Nippon India | +3.4% | +6.5% | +5.7% | 0.78% | ₹4,899 cr |
Kotak Banking and PSU Debt Fund Kotak Mahindra | +3.8% | +6.6% | +5.9% | 0.75% | ₹4,676 cr |
| +3.6% | +6.3% | — | 0.61% | ₹3,704 cr | |
Edelweiss Banking and PSU Debt Fund Edelweiss | +3.7% | +6.7% | +5.7% | 0.73% | ₹3,145 cr |
The NAV of the Regular Growth plan was ₹45.75 on 3 Nov 2026.
It returned +3.9% over the last year, +6.7% a year over three years, +5.8% a year over five years. Over three years its benchmark, NIFTY Banking & PSU Debt Index A-II, returned +6.4% a year. Past returns do not indicate future returns.
On 3 Nov 2026: started 3 years ago, ₹3.6 lakh put in would be worth ₹3.93 lakh, +5.7% a year; started 5 years ago, ₹6 lakh put in would be worth ₹7.01 lakh, +6.2% a year; started 10 years ago, ₹12 lakh put in would be worth ₹16.37 lakh, +6.0% a year. That is ₹10,000 on the first price of each month. Past returns do not tell you future returns.
As of 30 Sept 2026: HDFC Bank Ltd - 7.7% - 16/05/2028 (9.7%), National Housing Bank - 7.59% - 14/07/2027 (7.8%), Export Import Bank of India - 7.35% - 27/07/2028 (7.7%), Indian Oil Corporation Ltd - 7.44% - 25/11/2027 (5.8%), National Bank for Agriculture & Rural Development - 7.53% - 24/03/2028 (3.9%). It held 28 investments in all.
Over the last three years its NAV fell as much as -0.5% from a high before recovering; over the last year, -0.5%.
0.42% a year, against a typical 0.69% in its category. It is taken out of the fund daily, so the NAV and returns are after it.
It manages ₹256 cr as of 2 Nov 2026.
Sandeep Agarwal, Kumaresh Ramakrishnan, Ronak Shah.
Nil
₹5,000 to start, ₹1,000 a month by SIP.
Its riskometer level is Low to Moderate, on SEBI's six-step scale from Low to Very High. Its NAV's volatility over the last year was 1.2%.
NIFTY Banking & PSU Debt Index A-II.
On 29 Dec 2004.