Bandhan Equity Savings Fund
Bandhan Mutual Fund·Equity Savings·vs Nifty Equity Savings TRI
The fund has meaningfully tilted toward sovereign and AAA-rated debt while maintaining a two-thirds equity allocation, signaling a defensive posture amid market volatility. The manager exited discretionary plays like tech and retail, replacing them with government securities and infrastructure financials, reflecting reduced appetite for cyclical risk. This shift from growth equities to safer government bonds and banking stocks suggests conviction that near-term returns will come from preserving capital rather than taking leverage.
Portfolio analysis · April 2026
NAV & Returns
| Plan | NAV | 1M | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|---|---|
| Direct Growth | ₹35.5490 | +0.32% | — | — | — | — | — |
| Regular Growth | ₹31.7860 | +0.25% | -0.37% | +0.11% | +3.08% | +6.93% | +6.57% |
Returns above 1Y are CAGR. Direct plan rows highlighted. NAV from AMFI.
Portfolio Metrics(latest month)
Holdings
65
Top 5 Weight
23.40%
Top 10 Weight
39.87%
Active Share
—
Large Cap
56.15%
Gini
0.432
What Changed2026-03-31 → 2026-04-30
Holdings: 70 → 67+3 added−6 removed26 weight shifts ≥ 0.1%
| Stock | Weight |
|---|---|
| 6.68% GOI (MD 07/07/2040) | 2.42% |
| 7.7% REC Limited ** | 1.29% |
| Triparty Repo TRP_040526 | 1.11% |
Full Holdings
| # | Holding | % to NAV |
|---|---|---|
| 1 | Bandhan Money Market Fund -Direct Plan-Growth INF194K01M80 | 7.15% |
| 2 | HDFC Bank Limited INE040A01034 | 4.34% |
| 3 | Multi Commodity Exchange of India Limited INE745G01043 | 4.10% |
| 4 | Axis Bank Limited INE238A01034 | 3.97% |
| 5 | 7.37% Indian Railway Finance Corporation Limited ** INE053F08411 | 3.84% |
| 6 | Reliance Industries Limited INE002A01018 | 3.78% |
| 7 | Kotak Mahindra Bank Limited INE237A01036 | 3.66% |
| 8 | Larsen & Toubro Limited INE018A01030 | 3.27% |
| 9 | Maruti Suzuki India Limited INE585B01010 | 3.07% |
| 10 | ITC Limited INE154A01025 | 2.69% |
| 11 | 7.48% National Bank For Agriculture and Rural Development INE261F08EO7 | 2.56% |
| 12 | Pidilite Industries Limited INE318A01026 | 2.55% |
| 13 | 6.54% GOI (MD 17/01/2032) IN0020210244 | 2.52% |
| 14 | State Bank of India INE062A01020 | 2.45% |
| 15 | 6.68% GOI (MD 07/07/2040) IN0020250042 | 2.42% |
| 16 | Bharti Airtel Limited INE397D01024 | 2.30% |
| 17 | Nestle India Limited INE239A01024 | 1.93% |
| 18 | Sun Pharmaceutical Industries Limited INE044A01036 | 1.81% |
| 19 | Grasim Industries Limited INE047A01021 | 1.67% |
| 20 | 8.43% Uttar Pradesh SDL (MD 06/03/2029) IN3320180174 | 1.33% |
Sector Allocation
Banks16.9%
CRISIL AAA12.8%
SOVEREIGN11.2%
Pharmaceuticals & Biotechnology5.2%
Capital Markets4.1%
Petroleum Products3.8%
Automobiles3.8%
Diversified FMCG3.6%
Construction3.3%
Cement & Cement Products3.2%
Top 10 sectors by % to NAV. Excludes derivatives.