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Top 4 Debt - Government Bond Funds
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.
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.
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.
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(Erstwhile ICICI Prudential Long Term Gilt Fund) To generate income through investment in Gilts of various maturities. ICICI Prudential Gilt Fund is a Debt - Government Bond fund was launched on 19 Aug 99. It is a fund with Moderate risk and has given a 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. Axis Gilt Fund is a Debt - Government Bond fund was launched on 23 Jan 12. It is a fund with Moderate risk and has given a Below is the key information for Axis 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. TATA Gilt Securities Fund is a Debt - Government Bond fund was launched on 6 Sep 99. It is a fund with Moderate risk and has given a Below is the key information for TATA Gilt Securities 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. HDFC Gilt Fund is a Debt - Government Bond fund was launched on 25 Jul 01. It is a fund with Moderate risk and has given a Below is the key information for HDFC Gilt 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 ₹103.281
↑ 0.12 ₹7,347 2.5 5.2 9.6 8.9 8.2 6.45% 3Y 6M 9Y 4M 17D Axis Gilt Fund Growth ₹25.5854
↑ 0.03 ₹770 1.3 4.2 8.9 8.1 10 6.56% 8Y 5M 19D 19Y 9M 11D TATA Gilt Securities Fund Growth ₹78.405
↑ 0.12 ₹1,159 1.8 4.6 8.7 7.8 8.3 6.42% 7Y 4M 2D 13Y 1M 6D HDFC Gilt Fund Growth ₹55.4164
↑ 0.08 ₹3,058 1.4 4.3 8.7 7.8 8.7 6.59% 8Y 7M 6D 17Y 9M 4D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 30 Jun 25 1. ICICI Prudential Gilt Fund
CAGR/Annualized
return of 9.4% since its launch. Ranked 5 in Government Bond
category. Return for 2024 was 8.2% , 2023 was 8.3% and 2022 was 3.7% . ICICI Prudential Gilt Fund
Growth Launch Date 19 Aug 99 NAV (30 Jun 25) ₹103.281 ↑ 0.12 (0.11 %) Net Assets (Cr) ₹7,347 on 31 May 25 Category Debt - Government Bond AMC ICICI Prudential Asset Management Company Limited Rating ☆☆☆☆ Risk Moderate Expense Ratio 1.12 Sharpe Ratio 1.82 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 1,000 Exit Load NIL Yield to Maturity 6.45% Effective Maturity 9 Years 4 Months 17 Days Modified Duration 3 Years 6 Months Growth of 10,000 investment over the years.
Date Value 30 Jun 20 ₹10,000 30 Jun 21 ₹10,413 30 Jun 22 ₹10,601 30 Jun 23 ₹11,581 30 Jun 24 ₹12,476 Returns for ICICI Prudential Gilt Fund
absolute basis
& more than 1 year are on CAGR (Compound Annual Growth Rate)
basis. as on 30 Jun 25 Duration Returns 1 Month -0.2% 3 Month 2.5% 6 Month 5.2% 1 Year 9.6% 3 Year 8.9% 5 Year 6.5% 10 Year 15 Year Since launch 9.4% 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 1.36 Yr. Raunak Surana 22 Jan 24 1.36 Yr. Data below for ICICI Prudential Gilt Fund as on 31 May 25
Asset Allocation
Asset Class Value Cash 29.77% Debt 70.23% Debt Sector Allocation
Sector Value Government 70.23% Cash Equivalent 29.77% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 7.1% Govt Stock 2034
Sovereign Bonds | -24% ₹1,795 Cr 170,285,400
↓ -59,887,100 7.81% Govt Stock 2033
Sovereign Bonds | -13% ₹977 Cr 94,096,700 7.34% Govt Stock 2064
Sovereign Bonds | -11% ₹841 Cr 79,038,200 6.79% Govt Stock 2034
Sovereign Bonds | -9% ₹668 Cr 64,485,590
↓ -33,517,710 182 DTB 10072025
Sovereign Bonds | -5% ₹398 Cr 40,000,000
↑ 40,000,000 7.23% Maharashtra Sdl-04/09/2035
Sovereign Bonds | -3% ₹222 Cr 21,496,400 182 DTB 24072025
Sovereign Bonds | -3% ₹198 Cr 20,000,000 7.14% Maharashtra SDL 2039
Sovereign Bonds | -3% ₹187 Cr 18,000,000 6.9% Govt Stock 2065
Sovereign Bonds | -2% ₹151 Cr 15,000,000 91 Days Tbill Red 12-06-2025
Sovereign Bonds | -1% ₹100 Cr 10,000,000
↑ 10,000,000 2. Axis Gilt Fund
CAGR/Annualized
return of 7.2% since its launch. Ranked 16 in Government Bond
category. Return for 2024 was 10% , 2023 was 7.1% and 2022 was 2.4% . Axis Gilt Fund
Growth Launch Date 23 Jan 12 NAV (30 Jun 25) ₹25.5854 ↑ 0.03 (0.12 %) Net Assets (Cr) ₹770 on 31 May 25 Category Debt - Government Bond AMC Axis Asset Management Company Limited Rating ☆ Risk Moderate Expense Ratio 0.79 Sharpe Ratio 1.25 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 1,000 Exit Load NIL Yield to Maturity 6.56% Effective Maturity 19 Years 9 Months 11 Days Modified Duration 8 Years 5 Months 19 Days Growth of 10,000 investment over the years.
Date Value 30 Jun 20 ₹10,000 30 Jun 21 ₹10,494 30 Jun 22 ₹10,632 30 Jun 23 ₹11,362 30 Jun 24 ₹12,336 Returns for Axis Gilt Fund
absolute basis
& more than 1 year are on CAGR (Compound Annual Growth Rate)
basis. as on 30 Jun 25 Duration Returns 1 Month -1.2% 3 Month 1.3% 6 Month 4.2% 1 Year 8.9% 3 Year 8.1% 5 Year 6.1% 10 Year 15 Year Since launch 7.2% 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 12.58 Yr. Sachin Jain 1 Feb 23 2.33 Yr. Data below for Axis Gilt Fund as on 31 May 25
Asset Allocation
Asset Class Value Cash 3.19% Debt 96.81% Debt Sector Allocation
Sector Value Government 96.81% Cash Equivalent 3.19% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 7.18% Govt Stock 2033
Sovereign Bonds | -32% ₹238 Cr 22,700,000
↑ 12,700,000 7.34% Govt Stock 2064
Sovereign Bonds | -23% ₹171 Cr 16,494,700
↓ -2,500,000 182 Days Tbill
Sovereign Bonds | -10% ₹74 Cr 7,500,000
↑ 7,500,000 6.79% Govt Stock 2034
Sovereign Bonds | -7% ₹54 Cr 5,214,800
↓ -85,200 7.1% Govt Stock 2034
Sovereign Bonds | -7% ₹52 Cr 5,000,000 7.09% Govt Stock 2074
Sovereign Bonds | -7% ₹51 Cr 5,143,000
↑ 5,000,000 7.3% Govt Stock 2053
Sovereign Bonds | -3% ₹26 Cr 2,500,000
↓ -5,000,000 07.94 HR Sdl 2034
Sovereign Bonds | -2% ₹16 Cr 1,500,000
↑ 1,500,000 Haryana (State Of) 7.49%
- | -2% ₹16 Cr 1,483,000
↑ 1,483,000 07.05 AP Sdl 2035
Sovereign Bonds | -2% ₹12 Cr 1,200,000
↑ 1,200,000 3. TATA Gilt Securities Fund
CAGR/Annualized
return of 8.3% since its launch. Ranked 11 in Government Bond
category. Return for 2024 was 8.3% , 2023 was 7.5% and 2022 was 2.4% . TATA Gilt Securities Fund
Growth Launch Date 6 Sep 99 NAV (30 Jun 25) ₹78.405 ↑ 0.12 (0.15 %) Net Assets (Cr) ₹1,159 on 31 May 25 Category Debt - Government Bond AMC Tata Asset Management Limited Rating ☆☆☆ Risk Moderate Expense Ratio 0 Sharpe Ratio 1.12 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 6.42% Effective Maturity 13 Years 1 Month 6 Days Modified Duration 7 Years 4 Months 2 Days Growth of 10,000 investment over the years.
Date Value 30 Jun 20 ₹10,000 30 Jun 21 ₹10,163 30 Jun 22 ₹10,297 30 Jun 23 ₹11,086 30 Jun 24 ₹11,858 Returns for TATA Gilt Securities Fund
absolute basis
& more than 1 year are on CAGR (Compound Annual Growth Rate)
basis. as on 30 Jun 25 Duration Returns 1 Month -1.1% 3 Month 1.8% 6 Month 4.6% 1 Year 8.7% 3 Year 7.8% 5 Year 5.2% 10 Year 15 Year Since launch 8.3% 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 3.25 Yr. Data below for TATA Gilt Securities Fund as on 31 May 25
Asset Allocation
Asset Class Value Cash 1.97% Debt 98.03% Debt Sector Allocation
Sector Value Government 98.03% Cash Equivalent 1.97% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 6.79% Govt Stock 2034
Sovereign Bonds | -16% ₹180 Cr 17,500,000
↓ -17,500,000 7.1% Govt Stock 2034
Sovereign Bonds | -12% ₹131 Cr 12,500,000
↓ -2,500,000 7.23% Govt Stock 2039
Sovereign Bonds | -9% ₹105 Cr 10,000,000 7.34% Govt Stock 2064
Sovereign Bonds | -9% ₹103 Cr 10,000,000
↑ 10,000,000 6.92% Govt Stock 2039
Sovereign Bonds | -9% ₹102 Cr 10,000,000
↑ 10,000,000 7.09% Govt Stock 2054
Sovereign Bonds | -9% ₹101 Cr 10,000,000 Andhra Pradesh (Government of) 6.84%
- | -9% ₹99 Cr 10,000,000
↑ 10,000,000 6.9% Govt Stock 2065
Sovereign Bonds | -9% ₹98 Cr 10,000,000 6.54% Govt Stock 2032
Sovereign Bonds | -7% ₹81 Cr 8,000,000
↓ -7,000,000 7.32% Govt Stock 2030
Sovereign Bonds | -7% ₹79 Cr 7,500,000 4. HDFC Gilt Fund
CAGR/Annualized
return of 7.4% since its launch. Ranked 7 in Government Bond
category. Return for 2024 was 8.7% , 2023 was 7.1% and 2022 was 1.7% . HDFC Gilt Fund
Growth Launch Date 25 Jul 01 NAV (30 Jun 25) ₹55.4164 ↑ 0.08 (0.15 %) Net Assets (Cr) ₹3,058 on 15 Jun 25 Category Debt - Government Bond AMC HDFC Asset Management Company Limited Rating ☆☆☆ Risk Moderate Expense Ratio 0.88 Sharpe Ratio 1.49 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 300 Exit Load NIL Yield to Maturity 6.59% Effective Maturity 17 Years 9 Months 4 Days Modified Duration 8 Years 7 Months 6 Days Growth of 10,000 investment over the years.
Date Value 30 Jun 20 ₹10,000 30 Jun 21 ₹10,310 30 Jun 22 ₹10,398 30 Jun 23 ₹11,155 30 Jun 24 ₹11,993 Returns for HDFC Gilt Fund
absolute basis
& more than 1 year are on CAGR (Compound Annual Growth Rate)
basis. as on 30 Jun 25 Duration Returns 1 Month -1.3% 3 Month 1.4% 6 Month 4.3% 1 Year 8.7% 3 Year 7.8% 5 Year 5.4% 10 Year 15 Year Since launch 7.4% 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 17.76 Yr. Dhruv Muchhal 22 Jun 23 1.95 Yr. Data below for HDFC Gilt Fund as on 15 Jun 25
Asset Allocation
Asset Class Value Cash 5.07% Debt 94.93% Debt Sector Allocation
Sector Value Government 94.93% Cash Equivalent 5.07% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 7.3% Govt Stock 2053
Sovereign Bonds | -16% ₹481 Cr 46,500,000 7.18% Govt Stock 2033
Sovereign Bonds | -14% ₹425 Cr 40,500,000
↓ -11,500,000 7.34% Govt Stock 2064
Sovereign Bonds | -11% ₹328 Cr 31,700,000 7.09% Govt Stock 2054
Sovereign Bonds | -7% ₹223 Cr 22,170,000
↑ 4,000,000 6.79% Govt Stock 2034
Sovereign Bonds | -7% ₹222 Cr 21,583,400
↓ -2,500,000 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 7.1% Govt Stock 2034
Sovereign Bonds | -6% ₹178 Cr 17,000,000
↓ -2,000,000 6.9% Govt Stock 2065
Sovereign Bonds | -5% ₹147 Cr 15,011,300
↑ 12,000,000 7.18% Govt Stock 2037
Sovereign Bonds | -4% ₹125 Cr 12,000,000
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. ICICI Prudential Constant Maturity Gilt Fund is a Debt - 10 Yr Govt Bond fund was launched on 12 Sep 14. It is a fund with Moderate risk and has given a 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. IDFC Government Securities Fund - Constant Maturity Plan is a Debt - 10 Yr Govt Bond fund was launched on 9 Mar 02. It is a fund with Moderate risk and has given a Below is the key information for IDFC Government Securities Fund - Constant Maturity Plan 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. SBI Magnum Constant Maturity Fund is a Debt - 10 Yr Govt Bond fund was launched on 30 Dec 00. It is a fund with Moderately Low risk and has given a Below is the key information for SBI Magnum Constant Maturity Fund 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. DSP BlackRock 10Y G-Sec Fund is a Debt - 10 Yr Govt Bond fund was launched on 26 Sep 14. It is a fund with Moderate risk and has given a Below is the key information for DSP BlackRock 10Y G-Sec 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 ₹24.8616
↑ 0.01 ₹2,551 2.9 6 11.1 9.1 9.3 6.38% 6Y 9M 25D 9Y 6M 4D IDFC Government Securities Fund - Constant Maturity Plan Growth ₹45.9811
↑ 0.05 ₹363 2.6 5.8 10.7 9 9.7 6.38% 6Y 6M 29D 9Y 4M 2D SBI Magnum Constant Maturity Fund Growth ₹64.0417
↑ 0.08 ₹1,944 2.5 5.4 10.3 8.8 9.1 7.09% 6Y 10M 10D 9Y 8M 8D DSP BlackRock 10Y G-Sec Fund Growth ₹21.9349
↑ 0.01 ₹60 2.7 5.5 10.3 8.7 9 6.33% 6Y 3M 22D 8Y 7M 17D Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 30 Jun 25 1. ICICI Prudential Constant Maturity Gilt Fund
CAGR/Annualized
return of 8.8% since its launch. Ranked 6 in 10 Yr Govt Bond
category. Return for 2024 was 9.3% , 2023 was 7.7% and 2022 was 1.2% . ICICI Prudential Constant Maturity Gilt Fund
Growth Launch Date 12 Sep 14 NAV (30 Jun 25) ₹24.8616 ↑ 0.01 (0.05 %) Net Assets (Cr) ₹2,551 on 31 May 25 Category Debt - 10 Yr Govt Bond AMC ICICI Prudential Asset Management Company Limited Rating ☆☆☆ Risk Moderate Expense Ratio 0.39 Sharpe Ratio 2.16 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 6.38% Effective Maturity 9 Years 6 Months 4 Days Modified Duration 6 Years 9 Months 25 Days Growth of 10,000 investment over the years.
Date Value 30 Jun 20 ₹10,000 30 Jun 21 ₹10,427 30 Jun 22 ₹10,385 30 Jun 23 ₹11,324 30 Jun 24 ₹12,130 Returns for ICICI Prudential Constant Maturity Gilt Fund
absolute basis
& more than 1 year are on CAGR (Compound Annual Growth Rate)
basis. as on 30 Jun 25 Duration Returns 1 Month -0.4% 3 Month 2.9% 6 Month 6% 1 Year 11.1% 3 Year 9.1% 5 Year 6.2% 10 Year 15 Year Since launch 8.8% 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 1.36 Yr. Raunak Surana 22 Jan 24 1.36 Yr. Data below for ICICI Prudential Constant Maturity Gilt Fund as on 31 May 25
Asset Allocation
Asset Class Value Cash 3.08% Debt 96.92% Debt Sector Allocation
Sector Value Government 96.92% Cash Equivalent 3.08% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 6.79% Govt Stock 2034
Sovereign Bonds | -36% ₹930 Cr 89,822,250
↑ 7,099,500 6.64% Govt Stock 2035
Sovereign Bonds | -26% ₹652 Cr 63,500,000 7.1% Govt Stock 2034
Sovereign Bonds | -25% ₹635 Cr 60,272,100
↓ -8,026,900 7.18% Govt Stock 2037
Sovereign Bonds | -6% ₹149 Cr 14,000,000 6.19% Govt Stock 2034
Sovereign Bonds | -2% ₹50 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% ₹26 Cr 2,500,000 6.33% Gsec Mat - 05/05/2035
Sovereign Bonds | -0% ₹4 Cr 413,500
↓ -27,950 Net Current Assets
Net Current Assets | -2% ₹41 Cr Treps
CBLO/Reverse Repo | -1% ₹38 Cr 2. IDFC Government Securities Fund - Constant Maturity Plan
CAGR/Annualized
return of 6.8% since its launch. Ranked 2 in 10 Yr Govt Bond
category. Return for 2024 was 9.7% , 2023 was 7.4% and 2022 was 0.7% . IDFC Government Securities Fund - Constant Maturity Plan
Growth Launch Date 9 Mar 02 NAV (30 Jun 25) ₹45.9811 ↑ 0.05 (0.10 %) Net Assets (Cr) ₹363 on 31 May 25 Category Debt - 10 Yr Govt Bond AMC IDFC Asset Management Company Limited Rating ☆☆☆ Risk Moderate Expense Ratio 0.49 Sharpe Ratio 2.04 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 1,000 Exit Load NIL Yield to Maturity 6.38% Effective Maturity 9 Years 4 Months 2 Days Modified Duration 6 Years 6 Months 29 Days Growth of 10,000 investment over the years.
Date Value 30 Jun 20 ₹10,000 30 Jun 21 ₹10,346 30 Jun 22 ₹10,202 30 Jun 23 ₹11,096 30 Jun 24 ₹11,945 Returns for IDFC Government Securities Fund - Constant Maturity Plan
absolute basis
& more than 1 year are on CAGR (Compound Annual Growth Rate)
basis. as on 30 Jun 25 Duration Returns 1 Month -0.6% 3 Month 2.6% 6 Month 5.8% 1 Year 10.7% 3 Year 9% 5 Year 5.8% 10 Year 15 Year Since launch 6.8% 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 IDFC Government Securities Fund - Constant Maturity Plan
Name Since Tenure Harshal Joshi 15 May 17 8.05 Yr. Brijesh Shah 10 Jun 24 0.98 Yr. Data below for IDFC Government Securities Fund - Constant Maturity Plan as on 31 May 25
Asset Allocation
Asset Class Value Cash 2.55% Debt 97.45% Debt Sector Allocation
Sector Value Government 97.45% Cash Equivalent 2.55% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 7.18% Govt Stock 2033
Sovereign Bonds | -39% ₹143 Cr 13,600,000 7.18% Govt Stock 2037
Sovereign Bonds | -33% ₹120 Cr 11,500,000
↑ 500,000 7.1% Govt Stock 2034
Sovereign Bonds | -25% ₹89 Cr 8,500,000 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 | -2% ₹7 Cr Triparty Repo Trp_160625
CBLO/Reverse Repo | -1% ₹2 Cr Cash Margin - Ccil
CBLO/Reverse Repo | -0% ₹0 Cr 3. SBI Magnum Constant Maturity Fund
CAGR/Annualized
return of 7.9% since its launch. Ranked 1 in 10 Yr Govt Bond
category. Return for 2024 was 9.1% , 2023 was 7.5% and 2022 was 1.3% . SBI Magnum Constant Maturity Fund
Growth Launch Date 30 Dec 00 NAV (30 Jun 25) ₹64.0417 ↑ 0.08 (0.13 %) Net Assets (Cr) ₹1,944 on 31 May 25 Category Debt - 10 Yr Govt Bond AMC SBI Funds Management Private Limited Rating ☆☆☆☆ Risk Moderately Low Expense Ratio 0.64 Sharpe Ratio 1.93 Information Ratio 0 Alpha Ratio 0 Min Investment 5,000 Min SIP Investment 500 Exit Load NIL Yield to Maturity 7.09% Effective Maturity 9 Years 8 Months 8 Days Modified Duration 6 Years 10 Months 10 Days Growth of 10,000 investment over the years.
Date Value 30 Jun 20 ₹10,000 30 Jun 21 ₹10,330 30 Jun 22 ₹10,304 30 Jun 23 ₹11,225 30 Jun 24 ₹12,032 Returns for SBI Magnum Constant Maturity Fund
absolute basis
& more than 1 year are on CAGR (Compound Annual Growth Rate)
basis. as on 30 Jun 25 Duration Returns 1 Month -0.6% 3 Month 2.5% 6 Month 5.4% 1 Year 10.3% 3 Year 8.8% 5 Year 5.8% 10 Year 15 Year Since launch 7.9% 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 Rajeev Radhakrishnan 1 Nov 23 1.58 Yr. Tejas Soman 1 Dec 23 1.5 Yr. Data below for SBI Magnum Constant Maturity Fund as on 31 May 25
Asset Allocation
Asset Class Value Cash 2.29% Debt 97.71% Debt Sector Allocation
Sector Value Government 97.71% Cash Equivalent 2.29% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 7.1% Govt Stock 2034
Sovereign Bonds | -71% ₹1,371 Cr 131,000,000 7.18% Govt Stock 2037
Sovereign Bonds | -27% ₹511 Cr 49,000,000 Net Receivable / Payable
CBLO | -2% ₹31 Cr Treps
CBLO/Reverse Repo | -1% ₹13 Cr 4. DSP BlackRock 10Y G-Sec Fund
CAGR/Annualized
return of 7.6% since its launch. Ranked 8 in 10 Yr Govt Bond
category. Return for 2024 was 9% , 2023 was 7.7% and 2022 was 0.1% . DSP BlackRock 10Y G-Sec Fund
Growth Launch Date 26 Sep 14 NAV (30 Jun 25) ₹21.9349 ↑ 0.01 (0.04 %) Net Assets (Cr) ₹60 on 31 May 25 Category Debt - 10 Yr Govt Bond AMC DSP BlackRock Invmt Managers Pvt. Ltd. Rating ☆☆☆ Risk Moderate Expense Ratio 0.5 Sharpe Ratio 1.96 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 6.33% Effective Maturity 8 Years 7 Months 17 Days Modified Duration 6 Years 3 Months 22 Days Growth of 10,000 investment over the years.
Date Value 30 Jun 20 ₹10,000 30 Jun 21 ₹10,388 30 Jun 22 ₹9,944 30 Jun 23 ₹10,830 30 Jun 24 ₹11,596 Returns for DSP BlackRock 10Y G-Sec Fund
absolute basis
& more than 1 year are on CAGR (Compound Annual Growth Rate)
basis. as on 30 Jun 25 Duration Returns 1 Month -0.3% 3 Month 2.7% 6 Month 5.5% 1 Year 10.3% 3 Year 8.7% 5 Year 5% 10 Year 15 Year Since launch 7.6% 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 BlackRock 10Y G-Sec Fund
Name Since Tenure Shantanu Godambe 1 Jul 23 1.92 Yr. Data below for DSP BlackRock 10Y G-Sec Fund as on 31 May 25
Asset Allocation
Asset Class Value Cash 2.64% Debt 97.36% Debt Sector Allocation
Sector Value Government 97.36% Cash Equivalent 2.64% Credit Quality
Rating Value AAA 100% Top Securities Holdings / Portfolio
Name Holding Value Quantity 6.79% Govt Stock 2034
Sovereign Bonds | -97% ₹57 Cr 5,450,000 Treps / Reverse Repo Investments
CBLO/Reverse Repo | -2% ₹1 Cr Net Receivables/Payables
Net Current Assets | -1% ₹1 Cr
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.
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.
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%.
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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.
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.
A: Yes, the profit you earn from government bonds is taxable, but only if you fall under the taxable slab.
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.
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.
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.
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.
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.