10 Best Performing Debt Funds by Nippon/Reliance Mutual Fund 2026

Updated on October 26, 2026 , 14619 views

Nippon India Mutual Fund (Formerly Reliance Mutual Fund) offers various types of debt funds like Liquid Funds, ultra short term funds, short term funds, long term debt funds and also close-ended debt funds in the form of FMPs.

Debt funds are the best way to achieve your short to mid term Financial goals. For instance, short term funds invest money for a shorter duration, usually less than 3 years, whereas Ultra Short Term fund invest in debt instruments having residual maturities of more than 91 days.

Investors can determine their time frame of investment and invest accordingly in debt funds. To bring in Best Debt Funds, we have shortlisted top 4 best performing debt funds by Nippon India Mutual Fund. These funds have been shortlisted by undertaking certain important parameters like past performances, NAV, AUM, etc., of the fund.

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Important Information

From October 2019, Reliance Mutual Fund has been renamed as Nippon India Mutual Fund. Nippon Life has acquired majority (75%) stakes in Reliance Nippon Asset Management (RNAM). The company will continue to run its operations without any change in structure and management.

Why Invest in Nippon India Mutual Funds?

Innovative: The AMC consistently delivers new and innovative schemes to its investors.
Great Customer Care: The company takes great care of its investors. It has a very stable and high-functioning customer support team in place to help the investors.
Seasoned Experience: It has been in the market for over two decades. It has an experience and expertise in fund management and financial services.
Strong Network: The distribution network of Nippon India Mutual Fund is very strong. It has a presence in over 150 cities in India.

Fund Selection Methodology used to find 10 funds

Category: Debt
Asset Management Company : am
Sorted On : 1-year return (high to low)
Tags: fcpro
No Of Funds: 10

Best Nippon or Reliance Debt Mutual Funds

No Funds available.

About the Fincash Research Team

At Fincash, our mission is to help investors make informed, confident decisions. With over 10 years in Mutual Fund distribution, our team blends deep industry expertise with a commitment to transparency, accuracy, and investor education.

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AMFI Registration No.: 112358
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Location: Thane, Maharashtra, India
Experience: 10+ years in Mutual Fund distribution

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Certified Mutual Fund Distributors with hands-on advisory experience.
Market analysts tracking performance, macro trends, and sectors.
Data specialists processing NAVs, allocations, and risk metrics from Morning Star.

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Data sourcing: SEBI-registered fund houses & verified third-party provider Morning Star
Screening: Returns, manager track record, expenses, sector mix, risk-adjusted metrics.
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Updates: Regular refreshes so performance data reflects current market conditions.

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Disclaimer

Content is for educational and informational purposes only and is not investment advice. Please consider your risk profile and consult a financial advisor before investing.

1. Nippon India Liquid Fund

(Erstwhile Reliance Liquid Fund - Treasury Plan)

The investment objective of the scheme is to generate optimal returns consistent with moderate levels of risk and high liquidity. Accordingly, investments shall predominantly be made in Debt and Money Market Instruments.

Research Highlights for Nippon India Liquid Fund

Highest AUM (₹40,490 Cr).
Established history (22+ yrs).
Top rated.
Risk profile: Low.
1Y return: 6.33% (top quartile).
1M return: 0.43% (top quartile).
Sharpe: 2.86 (top quartile).
Information ratio: 0.00 (top quartile).
Yield to maturity (debt): 0.06% (bottom quartile).
Modified duration: 0.00 yrs (top quartile).
Average maturity: 0.00 yrs (top quartile).
Exit load: NIL.
Top sector: Financial Services.
Higher exposure to Cash Equivalent (bond sector) vs peer median.
Conservative stance with elevated cash (~97%).
High-quality debt (AAA/AA ~100%).
Largest holding Reverse Repo (~5.5%).

Below is the key information for Nippon India Liquid Fund

Nippon India Liquid Fund Growth
Launch Date	9 Dec 03
NAV (28 Oct 26)	₹6,902.33 ↑ 0.95 (0.01 %)
Net Assets (Cr)	₹40,490 on 30 Sep 26
Category	Debt - Liquid Fund
AMC	Nippon Life Asset Management Ltd.
Rating	☆☆☆☆
Risk	Low
Expense Ratio	0
Sharpe Ratio	2.86
Information Ratio	0
Alpha Ratio	0
Min Investment	100
Min SIP Investment	100
Exit Load	NIL
Yield to Maturity	0.06%
Effective Maturity
Modified Duration
Sub Cat.	Liquid Fund

Growth of 10,000 investment over the years.

Date	Value
30 Sep 21	₹10,000
30 Sep 22	₹10,400
30 Sep 23	₹11,109
30 Sep 24	₹11,923
30 Sep 25	₹12,732
30 Sep 26	₹13,544

Nippon India Liquid Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for Nippon India Liquid Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 28 Oct 26

Duration	Returns
1 Month	0.4%
3 Month	1.5%
6 Month	3.1%
1 Year	6.3%
3 Year	6.8%
5 Year	6.3%
Since launch	6.8%
10 Year
15 Year

Historical performance (Yearly) on absolute basis

Year	Returns
2025	6.5%
2024	7.3%
2023	7%
2022	4.8%
2021	3.2%
2020	4.3%
2019	6.7%
2018	7.4%
2017	6.7%
2016	7.7%

Fund Manager information for Nippon India Liquid Fund

Name	Since	Tenure
Kinjal Desai	25 May 18	8.36 Yr.
Vikash Agarwal	14 Sep 24	2.05 Yr.
Amber Singhania	11 Mar 26	0.56 Yr.

Data below for Nippon India Liquid Fund as on 30 Sep 26

Asset Allocation

Asset Class	Value
Cash	96.94%
Debt	2.88%
Other	0.18%

Debt Sector Allocation

Sector	Value
Cash Equivalent	86.3%
Government	8.11%
Corporate	5.41%

Credit Quality

Rating	Value
AA	0.6%
AAA	99.4%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Reverse Repo CBLO/Reverse Repo \| -	5%	₹3,023 Cr
Triparty Repo CBLO/Reverse Repo \| -	4%	₹1,933 Cr
Canara Bank Certificate of Deposit \| -	3%	₹1,495 Cr	30,000 ↑ 30,000
Hdfc Bank Limited** Net Current Assets \| -	2%	₹1,237 Cr	25,000
91 Days Tbill Sovereign Bonds \| -	2%	₹1,183 Cr	120,000,000 ↑ 120,000,000
Tata Steel Limited** Net Current Assets \| -	2%	₹992 Cr	20,000 ↑ 20,000
Small Industries Development Bank of India Commercial Paper \| -	2%	₹992 Cr	20,000
India (Republic of) - \| -	2%	₹929 Cr	93,000,000 ↓ -24,000,000
HDFC Bank Limited Certificate of Deposit \| -	2%	₹847 Cr	17,000
Union Bank Of India Certificate of Deposit \| -	1%	₹822 Cr	16,500 ↑ 16,500

2. Nippon India Money Market Fund

(Erstwhile Reliance Liquidity Fund)

The investment objective of the Scheme is to generate optimal returns consistent with moderate levels of risk and high liquidity. Accordingly, investments shall predominantly be made in Debt and Money Market Instruments.

Research Highlights for Nippon India Money Market Fund

Top quartile AUM (₹19,855 Cr).
Established history (21+ yrs).
Rating: 3★ (upper mid).
Risk profile: Low.
1Y return: 6.12% (top quartile).
1M return: 0.31% (upper mid).
Sharpe: 0.86 (upper mid).
Information ratio: 0.00 (top quartile).
Yield to maturity (debt): 0.07% (upper mid).
Modified duration: 0.00 yrs (top quartile).
Average maturity: 0.00 yrs (top quartile).
Exit load: NIL.
Top sector: Financial Services.
Top bond sector: Corporate.
Conservative stance with elevated cash (~75%).
High-quality debt (AAA/AA ~100%).
Largest holding National Bank for Agriculture and Rural Development (~3.4%).

Below is the key information for Nippon India Money Market Fund

Nippon India Money Market Fund Growth
Launch Date	16 Jun 05
NAV (28 Oct 26)	₹4,503.23 ↑ 0.05 (0.00 %)
Net Assets (Cr)	₹19,855 on 30 Sep 26
Category	Debt - Money Market
AMC	Nippon Life Asset Management Ltd.
Rating	☆☆☆
Risk	Low
Expense Ratio	0
Sharpe Ratio	0.86
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	100
Exit Load	NIL
Yield to Maturity	0.07%
Effective Maturity
Modified Duration
Sub Cat.	Money Market

Growth of 10,000 investment over the years.

Date	Value
30 Sep 21	₹10,000
30 Sep 22	₹10,423
30 Sep 23	₹11,181
30 Sep 24	₹12,041
30 Sep 25	₹12,974
30 Sep 26	₹13,795

Nippon India Money Market Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for Nippon India Money Market Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 28 Oct 26

Duration	Returns
1 Month	0.3%
3 Month	1.4%
6 Month	3.1%
1 Year	6.1%
3 Year	7.2%
5 Year	6.7%
Since launch	7.3%
10 Year
15 Year

Historical performance (Yearly) on absolute basis

Year	Returns
2025	7.4%
2024	7.8%
2023	7.4%
2022	5%
2021	3.8%
2020	6%
2019	8.1%
2018	7.9%
2017	6.6%
2016	7.6%

Fund Manager information for Nippon India Money Market Fund

Name	Since	Tenure
Kinjal Desai	16 Jul 18	8.22 Yr.
Vikash Agarwal	14 Sep 24	2.05 Yr.
Amber Singhania	11 Mar 26	0.56 Yr.

Data below for Nippon India Money Market Fund as on 30 Sep 26

Asset Allocation

Asset Class	Value
Cash	74.72%
Debt	24.97%
Other	0.31%

Debt Sector Allocation

Sector	Value
Corporate	43.13%
Cash Equivalent	34.93%
Government	21.63%

Credit Quality

Rating	Value
AAA	100%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
National Bank for Agriculture and Rural Development Domestic Bonds \| -	3%	₹704 Cr	14,500 ↓ -3,000
India (Republic of) - \| -	3%	₹689 Cr	70,000,000
UCO Bank Domestic Bonds \| -	2%	₹488 Cr	10,000
India (Republic of) - \| -	2%	₹344 Cr	35,000,000
UCO Bank Domestic Bonds \| -	2%	₹333 Cr	7,000
04/02/2027 Maturing 364 DTB Sovereign Bonds \| -	1%	₹246 Cr	25,000,000
HDFC Bank Ltd. Debentures \| -	1%	₹244 Cr	5,000
India (Republic of) - \| -	1%	₹237 Cr	24,000,000 ↓ -6,000,000
7.19% Gujarat Sdl 2027 Sovereign Bonds \| -	1%	₹175 Cr	17,500,000 ↑ 7,000,000
India (Republic of) - \| -	1%	₹172 Cr	17,500,000 ↑ 17,500,000

3. Nippon India Credit Risk Fund

(Erstwhile Reliance Regular Savings Fund - Debt Plan)

The primary investment objective of this option is to generate optimal returns consistent with moderate level of risk. This income may be complemented by capital appreciation of the portfolio. Accordingly investments shall predominantly be made in Debt & Money Market Instruments.

Research Highlights for Nippon India Credit Risk Fund

Bottom quartile AUM (₹1,708 Cr).
Established history (21+ yrs).
Rating: 2★ (bottom quartile).
Risk profile: Moderate.
1Y return: 6.03% (upper mid).
1M return: 0.05% (upper mid).
Sharpe: 0.82 (upper mid).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 0.09% (top quartile).
Modified duration: 1.78 yrs (upper mid).
Average maturity: 2.12 yrs (upper mid).
Exit load: 0-12 Months (1%),12 Months and above(NIL).
Higher exposure to Corporate (bond sector) vs peer median.
Debt-heavy allocation (~91%).
High-quality debt (AAA/AA ~79%).
Largest holding Triumph Composites Private Limited (~4.6%).

Below is the key information for Nippon India Credit Risk Fund

Nippon India Credit Risk Fund Growth
Launch Date	8 Jun 05
NAV (28 Oct 26)	₹38.1441 ↑ 0.00 (0.00 %)
Net Assets (Cr)	₹1,708 on 30 Sep 26
Category	Debt - Credit Risk
AMC	Nippon Life Asset Management Ltd.
Rating	☆☆
Risk	Moderate
Expense Ratio	0.7
Sharpe Ratio	0.82
Information Ratio	0
Alpha Ratio	0
Min Investment	500
Min SIP Investment	100
Exit Load	0-12 Months (1%),12 Months and above(NIL)
Yield to Maturity	0.09%
Effective Maturity	2 Years 1 Month 13 Days
Modified Duration	1 Year 9 Months 11 Days
Sub Cat.	Credit Risk

Growth of 10,000 investment over the years.

Date	Value
30 Sep 21	₹10,000
30 Sep 22	₹10,356
30 Sep 23	₹11,165
30 Sep 24	₹12,066
30 Sep 25	₹13,173
30 Sep 26	₹14,075

Nippon India Credit Risk Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹203,125.
Net Profit of ₹23,125 Invest Now

Returns for Nippon India Credit Risk Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 28 Oct 26

Duration	Returns
1 Month	0%
3 Month	0.7%
6 Month	3%
1 Year	6%
3 Year	7.9%
5 Year	7%
Since launch	6.5%
10 Year
15 Year

Historical performance (Yearly) on absolute basis

Year	Returns
2025	8.9%
2024	8.3%
2023	7.9%
2022	3.9%
2021	13.5%
2020	-5.9%
2019	1.9%
2018	6.1%
2017	7%
2016	10%

Fund Manager information for Nippon India Credit Risk Fund

Name	Since	Tenure
Kinjal Desai	25 May 18	8.36 Yr.
Sushil Budhia	1 Feb 20	6.67 Yr.
Amber Singhania	11 Mar 26	0.56 Yr.

Data below for Nippon India Credit Risk Fund as on 30 Sep 26

Asset Allocation

Asset Class	Value
Cash	8.96%
Debt	90.8%
Other	0.25%

Debt Sector Allocation

Sector	Value
Corporate	72.73%
Government	19.62%
Cash Equivalent	4.13%
Securitized	3.27%

Credit Quality

Rating	Value
A	21.01%
AA	42.42%
AAA	36.57%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Triumph Composites Private Limited Debentures \| -	5%	₹79 Cr	8,000
10.5% Earlysalary Services Private Limited Debentures \| -	4%	₹64 Cr	6,500 ↑ 6,500
Prospera Healthcorp Private Limited Debentures \| -	4%	₹64 Cr	6,500
SAMRIDDHI TRUST SERIES 3 Unlisted bonds \| -	3%	₹56 Cr	52 ↑ 52
Adani Airport Holdings Limited Debentures \| -	3%	₹54 Cr	5,500
National Bank For Agriculture And Rural Development Debentures \| -	3%	₹54 Cr	5,500
Delhi International Airport Limited Debentures \| -	3%	₹51 Cr	5,000
HDFC Bank Ltd. Debentures \| -	3%	₹49 Cr	1,000
National Bank For Agriculture And Rural Development Debentures \| -	3%	₹49 Cr	5,000
6.36% Govt Stock 2031 Sovereign Bonds \| -	3%	₹49 Cr	5,000,000

4. Nippon India Ultra Short Duration Fund

(Erstwhile Reliance Liquid Fund - Cash Plan)

Research Highlights for Nippon India Ultra Short Duration Fund

Upper mid AUM (₹11,551 Cr).
Established history (24+ yrs).
Rating: 2★ (bottom quartile).
Risk profile: Low.
1Y return: 5.98% (upper mid).
1M return: 0.32% (top quartile).
Sharpe: 0.97 (top quartile).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 0.07% (lower mid).
Modified duration: 0.00 yrs (upper mid).
Average maturity: 0.00 yrs (upper mid).
Exit load: NIL.
Top sector: Financial Services.
Top bond sector: Corporate.
Conservative stance with elevated cash (~45%).
High-quality debt (AAA/AA ~100%).
Largest holding Vedanta Aluminium Metal Limited (~3.6%).

Below is the key information for Nippon India Ultra Short Duration Fund

Nippon India Ultra Short Duration Fund Growth
Launch Date	7 Dec 01
NAV (28 Oct 26)	₹4,355.15 ↑ 0.17 (0.00 %)
Net Assets (Cr)	₹11,551 on 30 Sep 26
Category	Debt - Ultrashort Bond
AMC	Nippon Life Asset Management Ltd.
Rating	☆☆
Risk	Low
Expense Ratio	0.01
Sharpe Ratio	0.97
Information Ratio	0
Alpha Ratio	0
Min Investment	100
Min SIP Investment	100
Exit Load	NIL
Yield to Maturity	0.07%
Effective Maturity	1 Day
Modified Duration
Sub Cat.	Ultrashort Bond

Growth of 10,000 investment over the years.

Date	Value
30 Sep 21	₹10,000
30 Sep 22	₹10,401
30 Sep 23	₹11,086
30 Sep 24	₹11,873
30 Sep 25	₹12,714
30 Sep 26	₹13,501

Nippon India Ultra Short Duration Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for Nippon India Ultra Short Duration Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 28 Oct 26

Duration	Returns
1 Month	0.3%
3 Month	1.3%
6 Month	3%
1 Year	6%
3 Year	6.7%
5 Year	6.2%
Since launch	6.1%
10 Year
15 Year

Historical performance (Yearly) on absolute basis

Year	Returns
2025	6.8%
2024	7.2%
2023	6.7%
2022	4.6%
2021	7.8%
2020	4.9%
2019	0.9%
2018	7.3%
2017	5.8%
2016	6.8%

Fund Manager information for Nippon India Ultra Short Duration Fund

Name	Since	Tenure
Vivek Sharma	1 Oct 13	13.01 Yr.
Kinjal Desai	25 May 18	8.36 Yr.
Akshay Sharma	1 Dec 22	3.84 Yr.
Amber Singhania	11 Mar 26	0.56 Yr.

Data below for Nippon India Ultra Short Duration Fund as on 30 Sep 26

Asset Allocation

Asset Class	Value
Cash	45.3%
Debt	54.44%
Other	0.26%

Debt Sector Allocation

Sector	Value
Corporate	69.58%
Government	15.03%
Cash Equivalent	13.9%
Securitized	1.23%

Credit Quality

Rating	Value
AA	33.85%
AAA	66.15%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Vedanta Aluminium Metal Limited Debentures \| -	4%	₹434 Cr	43,300 ↑ 11,300
Nirma Limited Debentures \| -	3%	₹346 Cr	34,600
182 Days Tbill Sovereign Bonds \| -	3%	₹341 Cr	35,000,000 ↑ 35,000,000
National Bank for Agriculture and Rural Development Domestic Bonds \| -	3%	₹315 Cr	6,500
Tbill Sovereign Bonds \| -	2%	₹283 Cr	28,500,000
Vedanta Limited Debentures \| -	2%	₹257 Cr	25,500
Aditya Birla Renewables Limited Debentures \| -	2%	₹250 Cr	25,000
India (Republic of) - \| -	2%	₹248 Cr	25,000,000
Embassy Office Parks Reit Debentures \| -	2%	₹200 Cr	2,000
04/02/2027 Maturing 364 DTB Sovereign Bonds \| -	2%	₹196 Cr	20,000,000

5. Nippon India Low Duration Fund

(Erstwhile Reliance Money Manager Fund)

The investment objective of the Scheme is to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities.

Research Highlights for Nippon India Low Duration Fund

Lower mid AUM (₹7,096 Cr).
Established history (19+ yrs).
Rating: 3★ (lower mid).
Risk profile: Moderately Low.
1Y return: 5.31% (upper mid).
1M return: 0.18% (upper mid).
Sharpe: 0.18 (upper mid).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 0.07% (lower mid).
Modified duration: 0.00 yrs (upper mid).
Average maturity: 0.00 yrs (upper mid).
Exit load: NIL.
Top sector: Financial Services.
Higher exposure to Corporate (bond sector) vs peer median.
Debt-heavy allocation (~71%).
High-quality debt (AAA/AA ~100%).
Largest holding 182 Days Tbill (~3.3%).

Below is the key information for Nippon India Low Duration Fund

Nippon India Low Duration Fund Growth
Launch Date	20 Mar 07
NAV (28 Oct 26)	₹4,028.55 ↑ 0.16 (0.00 %)
Net Assets (Cr)	₹7,096 on 30 Sep 26
Category	Debt - Low Duration
AMC	Nippon Life Asset Management Ltd.
Rating	☆☆☆
Risk	Moderately Low
Expense Ratio	0
Sharpe Ratio	0.18
Information Ratio	0
Alpha Ratio	0
Min Investment	500
Min SIP Investment	100
Exit Load	NIL
Yield to Maturity	0.07%
Effective Maturity	1 Day
Modified Duration	1 Day
Sub Cat.	Low Duration

Growth of 10,000 investment over the years.

Date	Value
30 Sep 21	₹10,000
30 Sep 22	₹10,342
30 Sep 23	₹11,032
30 Sep 24	₹11,825
30 Sep 25	₹12,722
30 Sep 26	₹13,450

Nippon India Low Duration Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for Nippon India Low Duration Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 28 Oct 26

Duration	Returns
1 Month	0.2%
3 Month	1%
6 Month	2.7%
1 Year	5.3%
3 Year	6.7%
5 Year	6.1%
Since launch	7.4%
10 Year
15 Year

Historical performance (Yearly) on absolute basis

Year	Returns
2025	7.2%
2024	7.4%
2023	6.7%
2022	4.2%
2021	4.1%
2020	7.3%
2019	7%
2018	7.4%
2017	6.6%
2016	8.5%

Fund Manager information for Nippon India Low Duration Fund

Name	Since	Tenure
Vivek Sharma	1 Feb 20	6.67 Yr.
Kinjal Desai	25 May 18	8.36 Yr.
Amber Singhania	11 Mar 26	0.56 Yr.

Data below for Nippon India Low Duration Fund as on 30 Sep 26

Asset Allocation

Asset Class	Value
Cash	28.43%
Debt	71.15%
Other	0.42%

Debt Sector Allocation

Sector	Value
Corporate	76.69%
Government	17.07%
Cash Equivalent	5.82%

Credit Quality

Rating	Value
AA	15.46%
AAA	84.54%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
182 Days Tbill Sovereign Bonds \| -	3%	₹238 Cr	24,500,000 ↑ 24,500,000
Poonawalla Fincorp Limited Debentures \| -	3%	₹200 Cr	20,000
RADHAKRISHNA SECURITISATION TRUST Unlisted bonds \| -	3%	₹190 Cr	200
Rec Limited Debentures \| -	3%	₹184 Cr	18,500
Power Finance Corporation Limited Debentures \| -	2%	₹173 Cr	17,500
Tata Capital Housing Finance Limited Debentures \| -	2%	₹150 Cr	1,500
TRuhome Finance Limited Debentures \| -	2%	₹148 Cr	15,000
National Bank For Agriculture And Rural Development Debentures \| -	2%	₹144 Cr	14,500
LIQUID GOLD SERIES 18 Unlisted bonds \| -	2%	₹135 Cr	2,286
Bharti Telecom Limited Debentures \| -	2%	₹134 Cr	13,500

6. Nippon India Strategic Debt Fund

(Erstwhile Reliance Classic Bond Fund)

To generate income through investments in a range of debt and money market instruments of various maturities with a view to maximizing income while maintaining the optimum balance of yield, safety and liquidity. The scheme would focus its investments predominantly in corporate bonds of various maturities and across ratings for the purpose of achieving regular income and capital appreciation.

Research Highlights for Nippon India Strategic Debt Fund

Bottom quartile AUM (₹146 Cr).
Established history (12+ yrs).
Rating: 4★ (top quartile).
Risk profile: Moderate.
1Y return: 4.24% (lower mid).
1M return: -0.29% (bottom quartile).
Sharpe: -0.06 (lower mid).
Information ratio: 0.00 (lower mid).
Yield to maturity (debt): 0.08% (top quartile).
Modified duration: 3.48 yrs (bottom quartile).
Average maturity: 4.69 yrs (bottom quartile).
Exit load: 0-12 Months (1%),12 Months and above(NIL).
Top bond sector: Corporate.
Debt-heavy allocation (~82%).
High-quality debt (AAA/AA ~100%).
Largest holding National Bank For Agriculture And Rural Development (~6.8%).

Below is the key information for Nippon India Strategic Debt Fund

Nippon India Strategic Debt Fund Growth
Launch Date	26 Jun 14
NAV (28 Oct 26)	₹16.7829 ↓ -0.01 (-0.04 %)
Net Assets (Cr)	₹146 on 30 Sep 26
Category	Debt - Medium term Bond
AMC	Nippon Life Asset Management Ltd.
Rating	☆☆☆☆
Risk	Moderate
Expense Ratio	1.04
Sharpe Ratio	-0.06
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	100
Exit Load	0-12 Months (1%),12 Months and above(NIL)
Yield to Maturity	0.08%
Effective Maturity	4 Years 8 Months 8 Days
Modified Duration	3 Years 5 Months 23 Days
Sub Cat.	Medium term Bond

Growth of 10,000 investment over the years.

Date	Value
30 Sep 21	₹10,000
30 Sep 22	₹10,094
30 Sep 23	₹10,808
30 Sep 24	₹11,682
30 Sep 25	₹12,831
30 Sep 26	₹13,523

Nippon India Strategic Debt Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for Nippon India Strategic Debt Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 28 Oct 26

Duration	Returns
1 Month	-0.3%
3 Month	-0.2%
6 Month	2.1%
1 Year	4.2%
3 Year	7.6%
5 Year	6.1%
Since launch	4.3%
10 Year
15 Year

Historical performance (Yearly) on absolute basis

Year	Returns
2025	9.6%
2024	8.3%
2023	7%
2022	2%
2021	17.4%
2020	-23.5%
2019	-3.4%
2018	4.7%
2017	6.9%
2016	11.1%

Fund Manager information for Nippon India Strategic Debt Fund

Name	Since	Tenure
Kinjal Desai	25 May 18	8.36 Yr.
Sushil Budhia	1 Feb 20	6.67 Yr.
Akshay Sharma	1 Dec 22	3.83 Yr.
Amber Singhania	11 Mar 26	0.56 Yr.

Data below for Nippon India Strategic Debt Fund as on 30 Sep 26

Asset Allocation

Asset Class	Value
Cash	17.36%
Debt	82.3%
Other	0.35%

Debt Sector Allocation

Sector	Value
Corporate	51.81%
Government	30.49%
Cash Equivalent	17.36%

Credit Quality

Rating	Value
AA	49.51%
AAA	50.49%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
National Bank For Agriculture And Rural Development Debentures \| -	7%	₹10 Cr	1,000
Indian Railway Finance Corporation Limited Debentures \| -	4%	₹5 Cr	1,000
Triumph Composites Private Limited Debentures \| -	4%	₹5 Cr	515
Rec Limited Debentures \| -	4%	₹5 Cr	50
TRuhome Finance Limited Debentures \| -	3%	₹5 Cr	500
Muthoot Fincorp Limited Debentures \| -	3%	₹5 Cr	5,000
Godrej Industries Limited Debentures \| -	3%	₹5 Cr	500
5% Gmr Airports Limited** Debentures \| -	3%	₹5 Cr	500
7.27% Rajasthan Sdl 2029 Sovereign Bonds \| -	3%	₹5 Cr	500,000
7.3% Rajasthan Sdl 2030 Sovereign Bonds \| -	3%	₹5 Cr	500,000

7. Nippon India Floating Rate Fund

(Erstwhile Reliance Floating Rate Fund - Short Term Plan)

The primary objective of the scheme is to generate regular income through investment in a portfolio comprising substantially of Floating Rate Debt Securities (including floating rate securitized debt, Money Market Instruments and Fixed Rate Debt Instruments swapped for floating rate returns). The scheme shall also invest in Fixed rate Debt Securities (including fixed rate Securitized Debt, Money Market Instruments and Floating Rate Debt Instruments swapped for fixed returns).

Research Highlights for Nippon India Floating Rate Fund

Upper mid AUM (₹7,461 Cr).
Established history (22+ yrs).
Rating: 3★ (lower mid).
Risk profile: Moderately Low.
1Y return: 4.03% (lower mid).
1M return: -0.16% (lower mid).
Sharpe: -0.28 (lower mid).
Information ratio: 0.00 (lower mid).
Yield to maturity (debt): 0.07% (bottom quartile).
Modified duration: 2.12 yrs (lower mid).
Average maturity: 2.62 yrs (lower mid).
Exit load: 0-1 Months (0.5%),1 Months and above(NIL).
Higher exposure to Financial Services vs peer median.
Top bond sector: Corporate.
Debt-heavy allocation (~80%).
High-quality debt (AAA/AA ~100%).
Largest holding Pipeline Infrastructure Limited (~3.4%).

Below is the key information for Nippon India Floating Rate Fund

Nippon India Floating Rate Fund Growth
Launch Date	27 Aug 04
NAV (28 Oct 26)	₹48.148 ↓ 0.00 (0.00 %)
Net Assets (Cr)	₹7,461 on 30 Sep 26
Category	Debt - Floating Rate
AMC	Nippon Life Asset Management Ltd.
Rating	☆☆☆
Risk	Moderately Low
Expense Ratio	0.01
Sharpe Ratio	-0.28
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	100
Exit Load	0-1 Months (0.5%),1 Months and above(NIL)
Yield to Maturity	0.07%
Effective Maturity	2 Years 7 Months 13 Days
Modified Duration	2 Years 1 Month 13 Days
Sub Cat.	Floating Rate

Growth of 10,000 investment over the years.

Date	Value
30 Sep 21	₹10,000
30 Sep 22	₹10,282
30 Sep 23	₹11,027
30 Sep 24	₹11,913
30 Sep 25	₹12,893
30 Sep 26	₹13,540

Nippon India Floating Rate Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for Nippon India Floating Rate Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 28 Oct 26

Duration	Returns
1 Month	-0.2%
3 Month	0.1%
6 Month	2%
1 Year	4%
3 Year	6.9%
5 Year	6.2%
Since launch	7.3%
10 Year
15 Year

Historical performance (Yearly) on absolute basis

Year	Returns
2025	7.9%
2024	8.2%
2023	7.2%
2022	3.8%
2021	3.7%
2020	11.3%
2019	9%
2018	5.8%
2017	5.9%
2016	9%

Fund Manager information for Nippon India Floating Rate Fund

Name	Since	Tenure
Vikash Agarwal	14 Sep 24	2.04 Yr.
Amber Singhania	11 Mar 26	0.56 Yr.

Data below for Nippon India Floating Rate Fund as on 30 Sep 26

Asset Allocation

Asset Class	Value
Cash	20.12%
Debt	79.55%
Other	0.33%

Debt Sector Allocation

Sector	Value
Corporate	65.07%
Government	23.39%
Cash Equivalent	11.21%

Credit Quality

Rating	Value
AAA	100%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Pipeline Infrastructure Limited Debentures \| -	3%	₹253 Cr	25,300
Indian Railway Finance Corporation Limited Debentures \| -	3%	₹248 Cr	25,000
Summit Digitel Infrastructure Limited** Debentures \| -	3%	₹224 Cr	22,500 ↑ 22,500
Mahindra And Mahindra Financial Services Limited Debentures \| -	3%	₹200 Cr	20,000
National Bank For Agriculture And Rural Development Debentures \| -	2%	₹178 Cr	18,000
Rural Electrification Corporation Limited Debentures \| -	2%	₹163 Cr	1,609
Summit Digitel Infrastructure Limited Debentures \| -	2%	₹158 Cr	1,600
Jio Credit Limited Debentures \| -	2%	₹147 Cr	15,000
Bharti Telecom Limited Debentures \| -	2%	₹147 Cr	15,000
LIC Housing Finance Ltd Debentures \| -	2%	₹136 Cr	1,350

8. Nippon India Short Term Fund

The primary investment objective of the scheme is to generate stable returns for investors with a short term investment horizon by investing in fixed income securitites of a short term maturity.

Research Highlights for Nippon India Short Term Fund

Lower mid AUM (₹6,364 Cr).
Established history (23+ yrs).
Rating: 4★ (upper mid).
Risk profile: Moderately Low.
1Y return: 3.77% (bottom quartile).
1M return: -0.24% (lower mid).
Sharpe: -0.32 (bottom quartile).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 0.08% (upper mid).
Modified duration: 2.14 yrs (lower mid).
Average maturity: 2.54 yrs (lower mid).
Exit load: NIL.
Higher exposure to Financial Services vs peer median.
Top bond sector: Corporate.
Debt-heavy allocation (~92%).
High-quality debt (AAA/AA ~100%).
Largest holding Power Finance Corporation Limited (~3.7%).

Below is the key information for Nippon India Short Term Fund

Nippon India Short Term Fund Growth
Launch Date	18 Dec 02
NAV (28 Oct 26)	₹56.0747 ↓ 0.00 (-0.01 %)
Net Assets (Cr)	₹6,364 on 30 Sep 26
Category	Debt - Short term Bond
AMC	Nippon Life Asset Management Ltd.
Rating	☆☆☆☆
Risk	Moderately Low
Expense Ratio	0.95
Sharpe Ratio	-0.32
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	100
Exit Load	NIL
Yield to Maturity	0.08%
Effective Maturity	2 Years 6 Months 14 Days
Modified Duration	2 Years 1 Month 20 Days
Sub Cat.	Short term Bond

Growth of 10,000 investment over the years.

Date	Value
30 Sep 21	₹10,000
30 Sep 22	₹10,228
30 Sep 23	₹10,908
30 Sep 24	₹11,789
30 Sep 25	₹12,748
30 Sep 26	₹13,370

Nippon India Short Term Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹197,169.
Net Profit of ₹17,169 Invest Now

Returns for Nippon India Short Term Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 28 Oct 26

Duration	Returns
1 Month	-0.2%
3 Month	-0.1%
6 Month	1.9%
1 Year	3.8%
3 Year	6.8%
5 Year	5.9%
Since launch	7.5%
10 Year
15 Year

Historical performance (Yearly) on absolute basis

Year	Returns
2025	7.9%
2024	8%
2023	6.8%
2022	3.2%
2021	4.4%
2020	9.5%
2019	9.4%
2018	5.5%
2017	5.7%
2016	9.8%

Fund Manager information for Nippon India Short Term Fund

Name	Since	Tenure
Vivek Sharma	1 Feb 20	6.67 Yr.
Kinjal Desai	25 May 18	8.36 Yr.
Sushil Budhia	31 Mar 21	5.51 Yr.
Amber Singhania	11 Mar 26	0.56 Yr.

Data below for Nippon India Short Term Fund as on 30 Sep 26

Asset Allocation

Asset Class	Value
Cash	7.8%
Debt	91.77%
Other	0.44%

Debt Sector Allocation

Sector	Value
Corporate	69.02%
Government	25.44%
Cash Equivalent	5.1%

Credit Quality

Rating	Value
AA	16.29%
AAA	83.71%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Power Finance Corporation Limited Debentures \| -	4%	₹235 Cr	24,000
SHIVSHAKTI SECURITISATION TRUST Unlisted bonds \| -	3%	₹213 Cr	225
8.97% Govt Stock 2030 Sovereign Bonds \| -	2%	₹159 Cr	15,000,000
Knowledge Realty TRust Debentures \| -	2%	₹158 Cr	16,000
GMR Hyderabad International Airport Ltd Debentures \| -	2%	₹151 Cr	15,000
Small Industries Development Bank Of India Debentures \| -	2%	₹150 Cr	15,000
Export Import Bank Of India Debentures \| -	2%	₹149 Cr	15,000
Rural Electrification Corporation Limited Debentures \| -	2%	₹131 Cr	1,300
8.37% Madhyapradesh Sdl 2028 Sovereign Bonds \| -	2%	₹128 Cr	12,500,000
Indian Railway Finance Corporation Limited Debentures \| -	2%	₹115 Cr	1,200

9. Nippon India Prime Debt Fund

(Erstwhile Reliance Medium Term Fund)

The primary investment objective of the Scheme is to generate regular income in order to make regular dividend payments to unit-holders and the secondary objective is growth of capital.

Research Highlights for Nippon India Prime Debt Fund

Upper mid AUM (₹8,907 Cr).
Oldest track record among peers (26 yrs).
Rating: 4★ (upper mid).
Risk profile: Moderately Low.
1Y return: 3.48% (bottom quartile).
1M return: -0.33% (bottom quartile).
Sharpe: -0.38 (bottom quartile).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 0.08% (upper mid).
Modified duration: 2.34 yrs (bottom quartile).
Average maturity: 2.83 yrs (bottom quartile).
Exit load: NIL.
Higher exposure to Financial Services vs peer median.
Top bond sector: Corporate.
Debt-heavy allocation (~87%).
High-quality debt (AAA/AA ~100%).
Largest holding National Bank For Agriculture And Rural Development (~5.0%).

Below is the key information for Nippon India Prime Debt Fund

Nippon India Prime Debt Fund Growth
Launch Date	14 Sep 00
NAV (28 Oct 26)	₹63.4825 ↓ 0.00 (0.00 %)
Net Assets (Cr)	₹8,907 on 30 Sep 26
Category	Debt - Corporate Bond
AMC	Nippon Life Asset Management Ltd.
Rating	☆☆☆☆
Risk	Moderately Low
Expense Ratio	0.01
Sharpe Ratio	-0.39
Information Ratio	0
Alpha Ratio	0
Min Investment	1,000
Min SIP Investment	100
Exit Load	NIL
Yield to Maturity	0.08%
Effective Maturity	2 Years 9 Months 29 Days
Modified Duration	2 Years 4 Months 2 Days
Sub Cat.	Corporate Bond

Growth of 10,000 investment over the years.

Date	Value
30 Sep 21	₹10,000
30 Sep 22	₹10,332
30 Sep 23	₹11,088
30 Sep 24	₹12,034
30 Sep 25	₹12,999
30 Sep 26	₹13,608

Nippon India Prime Debt Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for Nippon India Prime Debt Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 28 Oct 26

Duration	Returns
1 Month	-0.3%
3 Month	-0.3%
6 Month	1.9%
1 Year	3.5%
3 Year	6.8%
5 Year	6.2%
Since launch	7.3%
10 Year
15 Year

Historical performance (Yearly) on absolute basis

Year	Returns
2025	7.8%
2024	8.4%
2023	7.1%
2022	4.3%
2021	4.7%
2020	9.5%
2019	7.8%
2018	6.9%
2017	6.6%
2016	9.1%

Fund Manager information for Nippon India Prime Debt Fund

Name	Since	Tenure
Vivek Sharma	1 Feb 20	6.67 Yr.
Kinjal Desai	25 May 18	8.36 Yr.
Amber Singhania	11 Mar 26	0.56 Yr.

Data below for Nippon India Prime Debt Fund as on 30 Sep 26

Asset Allocation

Asset Class	Value
Cash	12.74%
Debt	86.94%
Other	0.33%

Debt Sector Allocation

Sector	Value
Corporate	70.41%
Government	19.31%
Cash Equivalent	9.96%

Credit Quality

Rating	Value
AAA	100%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
National Bank For Agriculture And Rural Development Debentures \| -	5%	₹445 Cr	45,000
Indian Railway Finance Corporation Limited Debentures \| -	2%	₹218 Cr	2,158
6.94% Govt Stock 2036 Sovereign Bonds \| -	2%	₹194 Cr	20,000,000 ↑ 20,000,000
Bajaj Finance Limited Debentures \| -	2%	₹190 Cr	20,000
SHIVSHAKTI SECURITISATION TRUST Unlisted bonds \| -	2%	₹190 Cr	200
Rec Limited Debentures \| -	2%	₹174 Cr	17,500
Small Industries Development Bank Of India Debentures \| -	2%	₹172 Cr	17,500
Knowledge Realty TRust Debentures \| -	2%	₹158 Cr	16,000
Small Industries Development Bank Of India Debentures \| -	2%	₹150 Cr	15,000
8.2% Rj Corp Limited** Debentures \| -	2%	₹149 Cr	15,000

10. Nippon India Banking & PSU Debt Fund

To generate income over short to medium term horizon through investments in debt and money market instruments of various maturities, consisting predominantly of securities issued by entities such as Banks, Public Sector Undertakings (PSUs) and Public Financial Institutions (PFIs).However, there is no assurance that the investment objective of the Scheme will be achieved

Research Highlights for Nippon India Banking & PSU Debt Fund

Bottom quartile AUM (₹5,057 Cr).
Established history (11+ yrs).
Not Rated.
Risk profile: Moderately Low.
1Y return: 3.23% (bottom quartile).
1M return: -0.33% (bottom quartile).
Sharpe: -0.44 (bottom quartile).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 0.07% (bottom quartile).
Modified duration: 2.44 yrs (bottom quartile).
Average maturity: 3.05 yrs (bottom quartile).
Exit load: NIL.
Top bond sector: Corporate.
Debt-heavy allocation (~79%).
High-quality debt (AAA/AA ~100%).
Largest holding National Bank For Agriculture And Rural Development (~3.5%).

Below is the key information for Nippon India Banking & PSU Debt Fund

Nippon India Banking & PSU Debt Fund Growth
Launch Date	15 May 15
NAV (28 Oct 26)	₹21.8729 ↓ 0.00 (-0.01 %)
Net Assets (Cr)	₹5,057 on 30 Sep 26
Category	Debt - Banking & PSU Debt
AMC	Nippon Life Asset Management Ltd.
Rating	Not Rated
Risk	Moderately Low
Expense Ratio	0.77
Sharpe Ratio	-0.44
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	100
Exit Load	NIL
Yield to Maturity	0.07%
Effective Maturity	3 Years 18 Days
Modified Duration	2 Years 5 Months 8 Days
Sub Cat.	Banking & PSU Debt

Growth of 10,000 investment over the years.

Date	Value
30 Sep 21	₹10,000
30 Sep 22	₹10,225
30 Sep 23	₹10,913
30 Sep 24	₹11,790
30 Sep 25	₹12,673
30 Sep 26	₹13,237

Nippon India Banking & PSU Debt Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹197,169.
Net Profit of ₹17,169 Invest Now

Returns for Nippon India Banking & PSU Debt Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 28 Oct 26

Duration	Returns
1 Month	-0.3%
3 Month	-0.4%
6 Month	1.9%
1 Year	3.2%
3 Year	6.4%
5 Year	5.7%
Since launch	7.1%
10 Year
15 Year

Historical performance (Yearly) on absolute basis

Year	Returns
2025	7.3%
2024	7.9%
2023	6.8%
2022	3.2%
2021	3.9%
2020	10.9%
2019	10.5%
2018	6.4%
2017	6%
2016	10.2%

Fund Manager information for Nippon India Banking & PSU Debt Fund

Name	Since	Tenure
Vivek Sharma	25 Jun 20	6.27 Yr.
Pranay Sinha	31 Mar 21	5.5 Yr.
Kinjal Desai	25 May 18	8.36 Yr.
Amber Singhania	11 Mar 26	0.56 Yr.

Data below for Nippon India Banking & PSU Debt Fund as on 30 Sep 26

Asset Allocation

Asset Class	Value
Cash	20.69%
Debt	78.96%
Other	0.34%

Debt Sector Allocation

Sector	Value
Corporate	53.55%
Government	33.7%
Cash Equivalent	12.4%

Credit Quality

Rating	Value
AAA	100%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
National Bank For Agriculture And Rural Development Debentures \| -	4%	₹178 Cr	18,000
Small Industries Development Bank Of India Debentures \| -	3%	₹175 Cr	17,500
National Bank For Agriculture And Rural Development Debentures \| -	3%	₹173 Cr	17,500
National Housing Bank Debentures \| -	3%	₹130 Cr	13,000
Rural Electrification Corporation Limited Debentures \| -	2%	₹125 Cr	12,500
Small Industries Development Bank Of India Debentures \| -	2%	₹123 Cr	12,500
Union Bank Of India Debentures \| -	2%	₹103 Cr	103
Nuclear Power Corporation Of India Limited Debentures \| -	2%	₹100 Cr	10,000
Power Grid Corporation Of India Limited Debentures \| -	2%	₹97 Cr	10,000
Bajaj Finance Limited Debentures \| -	2%	₹95 Cr	10,000

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Disclaimer:
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.