+91-22-48913909Best Government Bond Mutual Funds 2025
Want to invest during falling interest rates? Gilt Funds in India are an answer to this! Gilt Mutual Funds provide good returns during times of falling interest rates depending upon its maturity (or duration). Investors Investing in these funds need to have enough time for tracking their investments since the NAVs of these funds move very sharply with movement in interest rates. One needs to be careful in the entry and exit of their investments accurately.
More importantly, considering important parameters to shortlist or invest in the best Gilt funds can be an optimal way to strengthen your Portfolio. We take you to some of those parameters, following the best Gilt funds or Best Performing Mutual Funds to Invest in 2025.
What are Government Bond Funds?
Corporations need money for their day-to-day requirements, and therefore borrow from lenders such as banks, mutual funds and Insurance companies. Similarly, when the Government of India needs money, it borrows through its banker, the Reserve Bank of India (RBI).
The RBI, in-turn, takes money from the lenders like banks, insurance companies and mutual funds; and passes it on to the government, and issues g-secs in return.
These g-secs have a specific tenure, at the end of which lenders give back the g-secs and take their money back. Many types of Debt fund invest in g-secs but g-sec funds invest only in g-secs. Although debt funds were introduced to the Indian mutual funds Industry in 1994, Kotak Mahindra Asset Management Co. Ltd launched India’s first gilt fund in December 1998.
Why Invest in Govt Bond Funds?
If you understand debt markets well, then gilt funds are for you. If you expect interest rates to fall, then a small exposure to gilt funds is a good idea because, typically, these funds move the most of all debt funds when interest rate move. Remember: in such times, you make money only when you actually withdraw your money and encash.
Talk to our investment specialist
Best Government Bond Mutual Funds To Invest In 2025
(Erstwhile ICICI Prudential Long Term Gilt Fund) To generate income through investment in Gilts of various maturities. Below is the key information for ICICI Prudential Gilt Fund Returns up to 1 year are on (Erstwhile Axis Constant Maturity 10 Year Fund) To generate returns similar to that of 10 year government bonds. Research Highlights for Axis Gilt Fund Below is the key information for Axis Gilt Fund Returns up to 1 year are on (Erstwhile HDFC Gilt Fund - Long Term Plan) The scheme seeks to generate credit risk - free returns through investments in sovereign securities issued by the Central Government and / or State Governments. Research Highlights for HDFC Gilt Fund Below is the key information for HDFC Gilt Fund Returns up to 1 year are on To generate risk-free return and thus provide medium to long term capital gains and income distribution to its Unitholders, while at all times emphasising the
importance of capital preservation. Research Highlights for TATA Gilt Securities Fund Below is the key information for TATA Gilt Securities Fund Returns up to 1 year are on Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 2024 (%) Debt Yield (YTM) Mod. Duration Eff. Maturity ICICI Prudential Gilt Fund Growth ₹102.404
↓ -0.30 ₹7,330 -1.2 3.4 6.8 7.6 8.2 6.63% 4Y 2M 5D 12Y 9M 7D Axis Gilt Fund Growth ₹25.2116
↓ -0.10 ₹619 -2.8 2.4 5.2 6.9 10 6.78% 8Y 7M 24D 22Y 8M 1D HDFC Gilt Fund Growth ₹54.6098
↓ -0.18 ₹3,020 -2.9 2.1 5.1 6.7 8.7 6.77% 8Y 1M 28D 19Y 4M 20D TATA Gilt Securities Fund Growth ₹76.7717
↓ -0.31 ₹1,514 -3.3 2.3 4.6 6.3 8.3 7.01% 10Y 7M 6D 25Y 5M 1D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 29 Aug 25 Research Highlights & Commentary of 4 Funds showcased
Commentary ICICI Prudential Gilt Fund Axis Gilt Fund HDFC Gilt Fund TATA Gilt Securities Fund Point 1 Highest AUM (₹7,330 Cr). Bottom quartile AUM (₹619 Cr). Upper mid AUM (₹3,020 Cr). Lower mid AUM (₹1,514 Cr). Point 2 Oldest track record among peers (26 yrs). Established history (13+ yrs). Established history (24+ yrs). Established history (26+ yrs). Point 3 Top rated. Rating: 1★ (bottom quartile). Rating: 3★ (upper mid). Rating: 3★ (lower mid). Point 4 Risk profile: Moderate. Risk profile: Moderate. Risk profile: Moderate. Risk profile: Moderate. Point 5 1Y return: 6.84% (top quartile). 1Y return: 5.16% (upper mid). 1Y return: 5.07% (lower mid). 1Y return: 4.61% (bottom quartile). Point 6 1M return: -1.31% (top quartile). 1M return: -1.64% (upper mid). 1M return: -1.90% (lower mid). 1M return: -2.48% (bottom quartile). Point 7 Sharpe: 1.16 (top quartile). Sharpe: 0.41 (bottom quartile). Sharpe: 0.45 (upper mid). Sharpe: 0.44 (lower mid). Point 8 Information ratio: 0.00 (top quartile). Information ratio: 0.00 (upper mid). Information ratio: 0.00 (lower mid). Information ratio: 0.00 (bottom quartile). Point 9 Yield to maturity (debt): 6.63% (bottom quartile). Yield to maturity (debt): 6.78% (upper mid). Yield to maturity (debt): 6.77% (lower mid). Yield to maturity (debt): 7.01% (top quartile). Point 10 Modified duration: 4.18 yrs (top quartile). Modified duration: 8.65 yrs (lower mid). Modified duration: 8.16 yrs (upper mid). Modified duration: 10.60 yrs (bottom quartile). ICICI Prudential Gilt Fund
Axis Gilt Fund
HDFC Gilt Fund
TATA Gilt Securities Fund
1. ICICI Prudential Gilt Fund
ICICI Prudential Gilt Fund
Growth Launch Date 19 Aug 99 NAV (29 Aug 25) ₹102.404 ↓ -0.30 (-0.29 %) Net Assets (Cr) ₹7,330 on 31 Jul 25 Category Debt - Government Bond AMC ICICI Prudential Asset Management Company Limited Rating ☆☆☆☆ Risk Moderate Expense Ratio 1.09 Sharpe Ratio 1.16 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 1,000 Exit Load NIL Yield to Maturity 6.63% Effective Maturity 12 Years 9 Months 7 Days Modified Duration 4 Years 2 Months 5 Days Growth of 10,000 investment over the years.
Date Value 31 Jul 20 ₹10,000 31 Jul 21 ₹10,298 31 Jul 22 ₹10,585 31 Jul 23 ₹11,523 31 Jul 24 ₹12,439 31 Jul 25 ₹13,573 Returns for ICICI Prudential Gilt Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 29 Aug 25 Duration Returns 1 Month -1.3% 3 Month -1.2% 6 Month 3.4% 1 Year 6.8% 3 Year 7.6% 5 Year 6.5% 10 Year 15 Year Since launch 9.3% Historical performance (Yearly) on absolute basis
Year Returns 2024 8.2% 2023 8.3% 2022 3.7% 2021 3.8% 2020 12.6% 2019 10.8% 2018 6.8% 2017 2.1% 2016 18.2% 2015 5.5% Fund Manager information for ICICI Prudential Gilt Fund
Name Since Tenure Manish Banthia 22 Jan 24 1.52 Yr. Raunak Surana 22 Jan 24 1.52 Yr. Data below for ICICI Prudential Gilt Fund as on 31 Jul 25
Asset Allocation
Asset Class Value Cash 24.5% Debt 75.5% Debt Sector Allocation
Sector Value Government 78.14% Cash Equivalent 21.86% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 7.81% Govt Stock 2033
Sovereign Bonds | -13% ₹978 Cr 94,096,700 7.34% Govt Stock 2064
Sovereign Bonds | -11% ₹821 Cr 79,038,200 7.1% Govt Stock 2034
Sovereign Bonds | -10% ₹713 Cr 68,233,150 7.09% Govt Stock 2054
Sovereign Bonds | -7% ₹537 Cr 53,000,000 6.9% Govt Stock 2065
Sovereign Bonds | -6% ₹442 Cr 45,000,000
↑ 30,000,000 364 DTB 28082025
Sovereign Bonds | -6% ₹407 Cr 41,000,000
↓ -30,000,000 6.79% Govt Stock 2034
Sovereign Bonds | -5% ₹363 Cr 35,287,190
↓ -20,000,000 182 Days Tbill
Sovereign Bonds | -4% ₹313 Cr 31,500,000 Maharashtra (Government of)
- | -4% ₹301 Cr 30,000,000
↑ 30,000,000 Maharashtra (Government of)
- | -4% ₹301 Cr 30,000,000
↑ 30,000,000 2. Axis Gilt Fund
Axis Gilt Fund
Growth Launch Date 23 Jan 12 NAV (29 Aug 25) ₹25.2116 ↓ -0.10 (-0.38 %) Net Assets (Cr) ₹619 on 31 Jul 25 Category Debt - Government Bond AMC Axis Asset Management Company Limited Rating ☆ Risk Moderate Expense Ratio 0.78 Sharpe Ratio 0.41 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 1,000 Exit Load NIL Yield to Maturity 6.78% Effective Maturity 22 Years 8 Months 1 Day Modified Duration 8 Years 7 Months 24 Days Growth of 10,000 investment over the years.
Date Value 31 Jul 20 ₹10,000 31 Jul 21 ₹10,378 31 Jul 22 ₹10,610 31 Jul 23 ₹11,247 31 Jul 24 ₹12,292 31 Jul 25 ₹13,296 Returns for Axis Gilt Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 29 Aug 25 Duration Returns 1 Month -1.6% 3 Month -2.8% 6 Month 2.4% 1 Year 5.2% 3 Year 6.9% 5 Year 5.8% 10 Year 15 Year Since launch 7% Historical performance (Yearly) on absolute basis
Year Returns 2024 10% 2023 7.1% 2022 2.4% 2021 2.4% 2020 13.1% 2019 12% 2018 5.3% 2017 1.4% 2016 13.7% 2015 6.3% Fund Manager information for Axis Gilt Fund
Name Since Tenure Devang Shah 5 Nov 12 12.74 Yr. Sachin Jain 1 Feb 23 2.5 Yr. Data below for Axis Gilt Fund as on 31 Jul 25
Asset Allocation
Asset Class Value Cash 17.28% Debt 82.72% Debt Sector Allocation
Sector Value Government 82.72% Cash Equivalent 17.28% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 7.34% Govt Stock 2064
Sovereign Bonds | -34% ₹244 Cr 23,494,700
↑ 15,000,000 7.18% Govt Stock 2033
Sovereign Bonds | -26% ₹186 Cr 17,700,000
↓ -10,000,000 6.79% Govt Stock 2034
Sovereign Bonds | -8% ₹54 Cr 5,214,800 7.1% Govt Stock 2034
Sovereign Bonds | -7% ₹52 Cr 5,000,000 182 Days Tbill
Sovereign Bonds | -6% ₹40 Cr 4,000,000 07.94 HR Sdl 2034
Sovereign Bonds | -2% ₹16 Cr 1,500,000 Haryana (State Of) 7.49%
- | -2% ₹16 Cr 1,483,000 07.05 AP Sdl 2035
Sovereign Bonds | -2% ₹12 Cr 1,200,000 7.46% Govt Stock 2073
Sovereign Bonds | -1% ₹5 Cr 500,000 7.39 CG Sdl 2033
Sovereign Bonds | -0% ₹2 Cr 235,700 3. HDFC Gilt Fund
HDFC Gilt Fund
Growth Launch Date 25 Jul 01 NAV (29 Aug 25) ₹54.6098 ↓ -0.18 (-0.34 %) Net Assets (Cr) ₹3,020 on 31 Jul 25 Category Debt - Government Bond AMC HDFC Asset Management Company Limited Rating ☆☆☆ Risk Moderate Expense Ratio 0.88 Sharpe Ratio 0.45 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 300 Exit Load NIL Yield to Maturity 6.77% Effective Maturity 19 Years 4 Months 20 Days Modified Duration 8 Years 1 Month 28 Days Growth of 10,000 investment over the years.
Date Value 31 Jul 20 ₹10,000 31 Jul 21 ₹10,259 31 Jul 22 ₹10,400 31 Jul 23 ₹11,094 31 Jul 24 ₹12,004 31 Jul 25 ₹12,980 Returns for HDFC Gilt Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 29 Aug 25 Duration Returns 1 Month -1.9% 3 Month -2.9% 6 Month 2.1% 1 Year 5.1% 3 Year 6.7% 5 Year 5.3% 10 Year 15 Year Since launch 7.3% Historical performance (Yearly) on absolute basis
Year Returns 2024 8.7% 2023 7.1% 2022 1.7% 2021 2.2% 2020 10.7% 2019 8.6% 2018 5.4% 2017 1.8% 2016 16.6% 2015 5.9% Fund Manager information for HDFC Gilt Fund
Name Since Tenure Anil Bamboli 1 Sep 07 17.93 Yr. Dhruv Muchhal 22 Jun 23 2.11 Yr. Data below for HDFC Gilt Fund as on 31 Jul 25
Asset Allocation
Asset Class Value Cash 7.47% Debt 92.53% Debt Sector Allocation
Sector Value Government 92.53% Cash Equivalent 7.47% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 7.3% Govt Stock 2053
Sovereign Bonds | -16% ₹483 Cr 46,500,000 7.18% Govt Stock 2033
Sovereign Bonds | -14% ₹420 Cr 40,000,000 7.34% Govt Stock 2064
Sovereign Bonds | -11% ₹329 Cr 31,700,000 6.9% Govt Stock 2065
Sovereign Bonds | -7% ₹226 Cr 23,011,300
↑ 2,500,000 7.09% Govt Stock 2054
Sovereign Bonds | -7% ₹225 Cr 22,170,000 6.79% Govt Stock 2034
Sovereign Bonds | -7% ₹222 Cr 21,583,400 7.26% Govt Stock 2033
Sovereign Bonds | -7% ₹221 Cr 21,000,000 7.26% Govt Stock 2032
Sovereign Bonds | -6% ₹179 Cr 17,000,000 7.18% Govt Stock 2037
Sovereign Bonds | -4% ₹126 Cr 12,000,000 7.25% Govt Stock 2063
Sovereign Bonds | -3% ₹87 Cr 8,500,000 4. TATA Gilt Securities Fund
TATA Gilt Securities Fund
Growth Launch Date 6 Sep 99 NAV (29 Aug 25) ₹76.7717 ↓ -0.31 (-0.41 %) Net Assets (Cr) ₹1,514 on 31 Jul 25 Category Debt - Government Bond AMC Tata Asset Management Limited Rating ☆☆☆ Risk Moderate Expense Ratio 1.48 Sharpe Ratio 0.44 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 500 Exit Load 0-180 Days (0.5%),180 Days and above(NIL) Yield to Maturity 7.01% Effective Maturity 25 Years 5 Months 1 Day Modified Duration 10 Years 7 Months 6 Days Growth of 10,000 investment over the years.
Date Value 31 Jul 20 ₹10,000 31 Jul 21 ₹10,077 31 Jul 22 ₹10,246 31 Jul 23 ₹11,008 31 Jul 24 ₹11,826 31 Jul 25 ₹12,791 Returns for TATA Gilt Securities Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 29 Aug 25 Duration Returns 1 Month -2.5% 3 Month -3.3% 6 Month 2.3% 1 Year 4.6% 3 Year 6.3% 5 Year 5% 10 Year 15 Year Since launch 8.2% Historical performance (Yearly) on absolute basis
Year Returns 2024 8.3% 2023 7.5% 2022 2.4% 2021 0.8% 2020 9.9% 2019 9.7% 2018 4.9% 2017 2.7% 2016 13.4% 2015 5.9% Fund Manager information for TATA Gilt Securities Fund
Name Since Tenure Akhil Mittal 1 Mar 22 3.42 Yr. Data below for TATA Gilt Securities Fund as on 31 Jul 25
Asset Allocation
Asset Class Value Cash 2.98% Debt 97.02% Debt Sector Allocation
Sector Value Government 97.02% Cash Equivalent 2.98% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 7.09% Govt Stock 2054
Sovereign Bonds | -32% ₹395 Cr 39,000,000
↑ 14,000,000 6.92% Govt Stock 2039
Sovereign Bonds | -17% ₹205 Cr 20,000,000 6.9% Govt Stock 2065
Sovereign Bonds | -16% ₹197 Cr 20,060,500
↑ 7,560,500 7.34% Govt Stock 2064
Sovereign Bonds | -13% ₹156 Cr 15,000,000
↑ 2,500,000 Andhra Pradesh (Government of) 6.84%
- | -8% ₹99 Cr 10,000,000 6.79% Govt Stock 2034
Sovereign Bonds | -5% ₹62 Cr 6,000,000 7.18% Govt Stock 2033
Sovereign Bonds | -2% ₹26 Cr 2,500,000 7.1% Govt Stock 2034
Sovereign Bonds | -2% ₹26 Cr 2,500,000 6.33% Govt Stock 2035
Sovereign Bonds | -2% ₹25 Cr 2,500,000 B) Repo
CBLO/Reverse Repo | -13% ₹163 Cr
Best 10 Year-Government Bond Mutual Funds To Invest In 2025
The Scheme aims to provide reasonable returns by investing in portfolio of Government Securities with average maturity of around 10 years. However, there can be no assurance that the investment objective of the
Scheme will be realized. Research Highlights for ICICI Prudential Constant Maturity Gilt Fund Below is the key information for ICICI Prudential Constant Maturity Gilt Fund Returns up to 1 year are on (Erstwhile IDFC Government Securities Fund - Short Term Plan) IDFC – GSF -ST is an open ended dedicated gilt scheme with an objective to generate optimal returns with high liquidity by investing Government Securities.
However there is no assurance that the investment objective of the scheme will be realized. Research Highlights for Bandhan Government Securities Fund - Constant Maturity Plan Below is the key information for Bandhan Government Securities Fund - Constant Maturity Plan Returns up to 1 year are on (Erstwhile DSP BlackRock Constant Maturity 10Y G-Sec Fund) The investment objective of the Scheme is to seek to generate returns commensurate with risk from a portfolio of Government Securities with weighted average maturity of around 10 years. There is no assurance that the investment objective of the Scheme will be realized. Research Highlights for DSP 10Y G-Sec Fund Below is the key information for DSP 10Y G-Sec Fund Returns up to 1 year are on (Erstwhile SBI Magnum Gilt Fund Short Term) To provide the investors with the returns generated through investments in government securities issued by the Central Govt. and State Govt. Research Highlights for SBI Magnum Constant Maturity Fund Below is the key information for SBI Magnum Constant Maturity Fund Returns up to 1 year are on Fund NAV Net Assets (Cr) 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 2024 (%) Debt Yield (YTM) Mod. Duration Eff. Maturity ICICI Prudential Constant Maturity Gilt Fund Growth ₹24.6314
↓ -0.07 ₹2,368 -1.5 3.9 7.8 7.9 9.3 6.57% 6Y 10M 2D 9Y 6M 14D Bandhan Government Securities Fund - Constant Maturity Plan Growth ₹45.5549
↓ -0.19 ₹354 -1.7 3.8 7.4 7.8 9.7 6.6% 6Y 11M 8D 9Y 11M 23D DSP 10Y G-Sec Fund Growth ₹21.7309
↓ -0.08 ₹57 -1.3 3.2 7.1 7.6 9 6.35% 6Y 10M 20D 9Y 5M 26D SBI Magnum Constant Maturity Fund Growth ₹63.4319
↓ -0.21 ₹1,884 -1.7 3.4 7 7.5 9.1 6.61% 6Y 9M 14D 9Y 6M 25D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 29 Aug 25 Research Highlights & Commentary of 4 Funds showcased
Commentary ICICI Prudential Constant Maturity Gilt Fund Bandhan Government Securities Fund - Constant Maturity Plan DSP 10Y G-Sec Fund SBI Magnum Constant Maturity Fund Point 1 Highest AUM (₹2,368 Cr). Lower mid AUM (₹354 Cr). Bottom quartile AUM (₹57 Cr). Upper mid AUM (₹1,884 Cr). Point 2 Established history (10+ yrs). Established history (23+ yrs). Established history (10+ yrs). Oldest track record among peers (24 yrs). Point 3 Rating: 3★ (upper mid). Rating: 3★ (lower mid). Rating: 3★ (bottom quartile). Top rated. Point 4 Risk profile: Moderate. Risk profile: Moderate. Risk profile: Moderate. Risk profile: Moderately Low. Point 5 1Y return: 7.82% (top quartile). 1Y return: 7.44% (upper mid). 1Y return: 7.09% (lower mid). 1Y return: 7.01% (bottom quartile). Point 6 1M return: -1.23% (lower mid). 1M return: -1.33% (bottom quartile). 1M return: -1.03% (top quartile). 1M return: -1.23% (upper mid). Point 7 Sharpe: 1.26 (top quartile). Sharpe: 1.08 (upper mid). Sharpe: 1.05 (lower mid). Sharpe: 0.97 (bottom quartile). Point 8 Information ratio: 0.00 (top quartile). Information ratio: 0.00 (upper mid). Information ratio: 0.00 (lower mid). Information ratio: 0.00 (bottom quartile). Point 9 Yield to maturity (debt): 6.57% (lower mid). Yield to maturity (debt): 6.60% (upper mid). Yield to maturity (debt): 6.35% (bottom quartile). Yield to maturity (debt): 6.61% (top quartile). Point 10 Modified duration: 6.84 yrs (upper mid). Modified duration: 6.94 yrs (bottom quartile). Modified duration: 6.89 yrs (lower mid). Modified duration: 6.79 yrs (top quartile). ICICI Prudential Constant Maturity Gilt Fund
Bandhan Government Securities Fund - Constant Maturity Plan
DSP 10Y G-Sec Fund
SBI Magnum Constant Maturity Fund
1. ICICI Prudential Constant Maturity Gilt Fund
ICICI Prudential Constant Maturity Gilt Fund
Growth Launch Date 12 Sep 14 NAV (29 Aug 25) ₹24.6314 ↓ -0.07 (-0.27 %) Net Assets (Cr) ₹2,368 on 31 Jul 25 Category Debt - 10 Yr Govt Bond AMC ICICI Prudential Asset Management Company Limited Rating ☆☆☆ Risk Moderate Expense Ratio 0.39 Sharpe Ratio 1.26 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 1,000 Exit Load 0-7 Days (0.25%),7 Days and above(NIL) Yield to Maturity 6.57% Effective Maturity 9 Years 6 Months 14 Days Modified Duration 6 Years 10 Months 2 Days Growth of 10,000 investment over the years.
Date Value 31 Jul 20 ₹10,000 31 Jul 21 ₹10,338 31 Jul 22 ₹10,413 31 Jul 23 ₹11,217 31 Jul 24 ₹12,134 31 Jul 25 ₹13,363 Returns for ICICI Prudential Constant Maturity Gilt Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 29 Aug 25 Duration Returns 1 Month -1.2% 3 Month -1.5% 6 Month 3.9% 1 Year 7.8% 3 Year 7.9% 5 Year 6.1% 10 Year 15 Year Since launch 8.6% Historical performance (Yearly) on absolute basis
Year Returns 2024 9.3% 2023 7.7% 2022 1.2% 2021 2.8% 2020 13.6% 2019 12.8% 2018 9.7% 2017 2.4% 2016 16.2% 2015 6.9% Fund Manager information for ICICI Prudential Constant Maturity Gilt Fund
Name Since Tenure Manish Banthia 22 Jan 24 1.52 Yr. Raunak Surana 22 Jan 24 1.52 Yr. Data below for ICICI Prudential Constant Maturity Gilt Fund as on 31 Jul 25
Asset Allocation
Asset Class Value Cash 2.05% Debt 97.95% Debt Sector Allocation
Sector Value Government 97.95% Cash Equivalent 2.05% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 6.79% Govt Stock 2034
Sovereign Bonds | -37% ₹878 Cr 85,374,500
↓ -8,000,000 6.64% Govt Stock 2035
Sovereign Bonds | -27% ₹645 Cr 63,500,000 7.1% Govt Stock 2034
Sovereign Bonds | -23% ₹546 Cr 52,219,850
↓ -1,000,000 7.18% Govt Stock 2037
Sovereign Bonds | -6% ₹147 Cr 14,000,000 6.19% Govt Stock 2034
Sovereign Bonds | -2% ₹49 Cr 5,000,000 6.92% Govt Stock 2039
Sovereign Bonds | -1% ₹26 Cr 2,500,000 6.67% Govt Stock 2035
Sovereign Bonds | -1% ₹25 Cr 2,500,000 6.33% Govt Stock 2035
Sovereign Bonds | -0% ₹4 Cr 413,500 Net Current Assets
Net Current Assets | -2% ₹41 Cr Treps
CBLO/Reverse Repo | -0% ₹7 Cr 2. Bandhan Government Securities Fund - Constant Maturity Plan
Bandhan Government Securities Fund - Constant Maturity Plan
Growth Launch Date 9 Mar 02 NAV (29 Aug 25) ₹45.5549 ↓ -0.19 (-0.42 %) Net Assets (Cr) ₹354 on 31 Jul 25 Category Debt - 10 Yr Govt Bond AMC IDFC Asset Management Company Limited Rating ☆☆☆ Risk Moderate Expense Ratio 0.48 Sharpe Ratio 1.08 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 1,000 Exit Load NIL Yield to Maturity 6.6% Effective Maturity 9 Years 11 Months 23 Days Modified Duration 6 Years 11 Months 8 Days Growth of 10,000 investment over the years.
Date Value 31 Jul 20 ₹10,000 31 Jul 21 ₹10,234 31 Jul 22 ₹10,217 31 Jul 23 ₹10,978 31 Jul 24 ₹11,936 31 Jul 25 ₹13,116 Returns for Bandhan Government Securities Fund - Constant Maturity Plan
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 29 Aug 25 Duration Returns 1 Month -1.3% 3 Month -1.7% 6 Month 3.8% 1 Year 7.4% 3 Year 7.8% 5 Year 5.8% 10 Year 15 Year Since launch 6.7% Historical performance (Yearly) on absolute basis
Year Returns 2024 9.7% 2023 7.4% 2022 0.7% 2021 1.8% 2020 13.2% 2019 14.2% 2018 11.8% 2017 6.2% 2016 10.1% 2015 9% Fund Manager information for Bandhan Government Securities Fund - Constant Maturity Plan
Name Since Tenure Harshal Joshi 15 May 17 8.22 Yr. Brijesh Shah 10 Jun 24 1.14 Yr. Data below for Bandhan Government Securities Fund - Constant Maturity Plan as on 31 Jul 25
Asset Allocation
Asset Class Value Cash 4.3% Debt 95.7% Debt Sector Allocation
Sector Value Government 95.7% Cash Equivalent 4.3% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 7.18% Govt Stock 2037
Sovereign Bonds | -49% ₹173 Cr 16,500,000 7.18% Govt Stock 2033
Sovereign Bonds | -39% ₹137 Cr 13,100,000
↓ -500,000 7.26% Govt Stock 2033
Sovereign Bonds | -7% ₹26 Cr 2,500,000 7.17% Govt Stock 2028
Sovereign Bonds | -0% ₹1 Cr 71,000 6.54% Govt Stock 2032
Sovereign Bonds | -0% ₹1 Cr 50,000 8.24% Govt Stock 2027
Sovereign Bonds | -0% ₹0 Cr 44,000 Net Current Assets
Net Current Assets | -3% ₹10 Cr Triparty Repo Trp_160725
CBLO/Reverse Repo | -1% ₹5 Cr Cash Margin - Ccil
CBLO/Reverse Repo | -0% ₹0 Cr 3. DSP 10Y G-Sec Fund
DSP 10Y G-Sec Fund
Growth Launch Date 26 Sep 14 NAV (29 Aug 25) ₹21.7309 ↓ -0.08 (-0.35 %) Net Assets (Cr) ₹57 on 31 Jul 25 Category Debt - 10 Yr Govt Bond AMC DSP BlackRock Invmt Managers Pvt. Ltd. Rating ☆☆☆ Risk Moderate Expense Ratio 0.51 Sharpe Ratio 1.05 Information Ratio 0 Alpha Ratio 0 Min Investment 1,000 Min SIP Investment 500 Exit Load 0-7 Days (0.1%),7 Days and above(NIL) Yield to Maturity 6.35% Effective Maturity 9 Years 5 Months 26 Days Modified Duration 6 Years 10 Months 20 Days Growth of 10,000 investment over the years.
Date Value 31 Jul 20 ₹10,000 31 Jul 21 ₹10,179 31 Jul 22 ₹10,002 31 Jul 23 ₹10,762 31 Jul 24 ₹11,636 31 Jul 25 ₹12,700 Returns for DSP 10Y G-Sec Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 29 Aug 25 Duration Returns 1 Month -1% 3 Month -1.3% 6 Month 3.2% 1 Year 7.1% 3 Year 7.6% 5 Year 5.1% 10 Year 15 Year Since launch 7.4% Historical performance (Yearly) on absolute basis
Year Returns 2024 9% 2023 7.7% 2022 0.1% 2021 0.7% 2020 11.8% 2019 10.8% 2018 5.9% 2017 2.3% 2016 15.5% 2015 6.6% Fund Manager information for DSP 10Y G-Sec Fund
Name Since Tenure Shantanu Godambe 1 Jul 23 2.09 Yr. Data below for DSP 10Y G-Sec Fund as on 31 Jul 25
Asset Allocation
Asset Class Value Cash 5.67% Debt 94.33% Debt Sector Allocation
Sector Value Government 94.33% Cash Equivalent 5.67% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 6.33% Govt Stock 2035
Sovereign Bonds | -71% ₹41 Cr 4,000,000 6.79% Govt Stock 2034
Sovereign Bonds | -24% ₹14 Cr 1,300,000 Treps / Reverse Repo Investments
CBLO/Reverse Repo | -5% ₹3 Cr Net Receivables/Payables
Net Current Assets | -1% ₹0 Cr 4. SBI Magnum Constant Maturity Fund
SBI Magnum Constant Maturity Fund
Growth Launch Date 30 Dec 00 NAV (29 Aug 25) ₹63.4319 ↓ -0.21 (-0.32 %) Net Assets (Cr) ₹1,884 on 31 Jul 25 Category Debt - 10 Yr Govt Bond AMC SBI Funds Management Private Limited Rating ☆☆☆☆ Risk Moderately Low Expense Ratio 0.63 Sharpe Ratio 0.97 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 500 Exit Load NIL Yield to Maturity 6.61% Effective Maturity 9 Years 6 Months 25 Days Modified Duration 6 Years 9 Months 14 Days Growth of 10,000 investment over the years.
Date Value 31 Jul 20 ₹10,000 31 Jul 21 ₹10,264 31 Jul 22 ₹10,337 31 Jul 23 ₹11,131 31 Jul 24 ₹12,040 31 Jul 25 ₹13,169 Returns for SBI Magnum Constant Maturity Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 29 Aug 25 Duration Returns 1 Month -1.2% 3 Month -1.7% 6 Month 3.4% 1 Year 7% 3 Year 7.5% 5 Year 5.8% 10 Year 15 Year Since launch 7.8% Historical performance (Yearly) on absolute basis
Year Returns 2024 9.1% 2023 7.5% 2022 1.3% 2021 2.4% 2020 11.6% 2019 11.9% 2018 9.9% 2017 6.2% 2016 12.8% 2015 9.1% Fund Manager information for SBI Magnum Constant Maturity Fund
Name Since Tenure Sudhir Agarwal 1 Jul 25 0.08 Yr. Data below for SBI Magnum Constant Maturity Fund as on 31 Jul 25
Asset Allocation
Asset Class Value Cash 2.44% Debt 97.56% Debt Sector Allocation
Sector Value Government 97.56% Cash Equivalent 2.44% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 7.1% Govt Stock 2034
Sovereign Bonds | -71% ₹1,338 Cr 128,000,000
↓ -500,000 7.18% Govt Stock 2037
Sovereign Bonds | -27% ₹513 Cr 48,999,500
↓ -500 Net Receivable / Payable
CBLO | -2% ₹41 Cr Treps
CBLO/Reverse Repo | -0% ₹5 Cr
Returns and risks
Since g-secs are the most liquid of all instruments in the debt Market, g-sec funds carry no credit risk because the Government of India is the borrower. Since the government typically doesn’t Default unlike a corporate, gilt funds don’t carry a credit risk.
That is also why government securities are sovereign rated. That’s as good as—or considered to be better than—a AAA rating.
Risks
Does that mean g-sec funds carry no risk? No. They carry interest rate risk. Typically, g-sec funds invest in securities that mature over a long period of time. As a debt security’s maturity goes up, it becomes more sensitive to interest rate movements.
If interest rates drop, prices of debt securities rise. The higher maturity scrips’ prices rise sharper than the rest. Similarly, when interest rates rise, prices of debt securities fall. Here’s where g-sec funds can suffer the most, as their average maturity is typically the highest.
Typically, a g-sec fund’s average maturity is higher than the fund house’s own bond fund that invests a part of its portfolio in gilts. In fact, for a bond fund manager, the easiest way to increase a bond fund’s maturity is by buying gilts. Hence, gilt funds are usually more volatile than bond funds.
Returns
As per figures provided to us by Crisil, a rating agency, gilt funds have given 3-year returns of as high as 16% and as low as little less than zero returns—which means they have also lost money—between January 2007 and now. The 5-year returns in the same period have gone as high as 13% and as low as 1.02%.
How to Invest in Govt Bond Funds Online?
Open Free Investment Account for Lifetime at Fincash.com.
Complete your Registration and KYC Process
Upload Documents (PAN, Aadhaar, etc.). And, You are Ready to Invest!
FAQs
1. What are government securities?
A: Government securities also work like government Bonds, but their origin is slightly different. The government issues a g-sec at the behest of the Reserve Bank of India. When the government borrows money from the RBI, the central bank gathers the money from banks and insurance companies. It then passes the government's debt, and the government gathers the money from investors in the form of government securities.
2. Who can invest in government bonds?
A: Earlier only major business enterprises would invest in government securities. However, nowadays, individual investors can purchase government bonds by investing in government securities like Edelweiss Government Securities Fund, Axis Gilt Fund, and ICICI Prudential Gilt Fund.
3. Are government bonds taxable?
A: Yes, the profit you earn from government bonds is taxable, but only if you fall under the taxable slab.
4. Are there any tax-free government bonds?
A: Yes, some tax-free government bonds such as those issued by the public sector enterprises such as the Rural Electrification Corporation or REC and the Housing Development Corporation or HUDCO. However, the Earnings from the tax-free government bonds are always lower than the taxable ones.
5. Is tax-free bonds taxable?
A: Yes, you will have to pay 10% tax on your tax-free government bonds if you sell these after one year. In this case, it will be categorized under long-term Capital gains and hence, become taxable.
6. Is there any risk involved in the government bonds?
A: There is hardly any risk of default involved with government bonds. If you invest in government bonds, you can be assured that you will get good returns on your investment. Additionally, these bonds are always adversely affected by market Volatility. Hence, these provide a certain amount of stability to your investments.
7. How do I evaluate government bonds?
A: When you invest in government bonds, you have to consider the NAV and the historical growth rate. For example, if you consider Edelweiss Government Securities Fund, which has a NAV of Rs. 18.7977 and a growth rate of 13.6% and compare it to ICICI Prudential Gilt Fund, which has a NAV of Rs. 77.1462 and a growth rate of 12.6%, then the former is a better investment than the latter. Thus, while when you compare government bonds, you will have to consider NAV and growth rate.
8. What is the most significant benefit of investing in government bonds?
A: Investing in government bonds is ideally suited for individuals who are averse to taking risks. Since the bonds issued by the government are not affected by Inflation and market volatility, you can be assured of an inevitable Return on Investment are the bond matures. Therefore, it is the ideal form of investment for individuals who want to protect their investment portfolio and not take risks.
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
You Might Also Like
AMFI Registration No. 112358 | CIN: U74999MH2016PTC282153
Shepard Technologies Pvt. Ltd. (with ARN code 112358) makes no warranties or representations, express or implied, on products offered through the platform. It accepts no liability for any damages or losses, however caused, in connection with the use of, or on the reliance of its product or related services. Terms and conditions of the website are applicable.
©2025 Shepard Technologies Private Limited. All Rights Reserved
Research Highlights for ICICI Prudential Gilt Fund