Bandhan Retirement Fund vs LIC MF Gilt Fund
Direct Plan, Growth option · Data as on 30-10-2026
Bandhan Retirement Fund is a Solution fund and LIC MF Gilt Fund is a Gilt fund. In the 3 years to 30-10-2026, Bandhan Retirement Fund (Direct) returned 9.1% a year and LIC MF Gilt Fund (Direct) returned 5.4% a year. Bandhan Retirement Fund charges 1.03% a year and LIC MF Gilt Fund 0.70% (Direct plans). Their portfolios overlap 21.3%: they hold 1 of the same security.
Bandhan Retirement Fund
Solution
- 3 year return
- 9.1%
- Expense ratio
- 1.03%
- NAV
- ₹12.80
Which is better, Bandhan Retirement or LIC MF Gilt? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Bandhan Retirement returned more over 3 years: 9.1% a year against 5.4%.
- LIC MF Gilt returned more over 1 year: 2.2% against −3.5%.
- LIC MF Gilt costs less: 0.70% a year against 1.03% (Direct plans).
- LIC MF Gilt swung less over 3 years: a standard deviation of 3.5% a year against 8.3%.
- LIC MF Gilt fell less in its worst fall since 19-10-2023: −5.6% against −9.8%.
- Bandhan Retirement is the larger fund: ₹182 Cr against ₹44 Cr.
- Their portfolios overlap 21.3%: 1 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | Bandhan Retirement Fund | LIC MF Gilt Fund |
|---|---|---|
| Fund house | Bandhan Mutual Fund | LIC Mutual Fund |
| Category | Solution | Gilt |
| AUM | ₹182 Cr (31-08-2026) | ₹44 Cr (30-09-2026) |
| NAV | ₹12.80 (Direct) | ₹66.47 (Direct) |
| Expense ratio (Direct) | 1.03% | 0.70% |
| Expense ratio (Regular) | 2.62% | 1.10% |
| Riskometer | Very High | Low to Moderate |
| Benchmark | CRISIL Hybrid 50+50 - Moderate Index | Nifty All Duration G-Sec Index |
| Launch date | 13-10-2023 | 10-12-1999 |
| Minimum investment | ₹1,000 | ₹10,000 |
| Lock in | 5 years, or until retirement if earlier | None |
| Fund managers | Vishal Biraia, Gautam Kaul, Viraj Kulkarni, Ritika Behera, Gaurav Satra, Brijesh Shah | Pratik Harish Shroff, Rahul Singh |
| Exit load | Nil | 0.25% if exit within 30 days from date of allotment of units |
Bandhan Retirement vs LIC MF Gilt: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| Bandhan Retirement Fund (Direct) | +0.47% | −3.64% | −1.17% | −3.52% | +9.08% | -- | -- |
| LIC MF Gilt Fund (Direct) | −0.55% | −0.43% | +2.56% | +2.20% | +5.41% | +4.86% | +6.26% |
| Gilt average | −0.69% | −1.34% | +1.62% | +2.12% | +6.19% | +5.46% | +6.64% |
Category average: the average of the 28 Gilt funds, same plan type.
Bandhan Retirement vs LIC MF Gilt: Year-wise Returns
| Year | Bandhan RetirementBandhan Retirement | LIC MF GiltLIC MF Gilt |
|---|---|---|
| 2026to date | −4.29% | +1.52% |
| 2025 | +8.38% | +3.53% |
| 2024 | +14.67% | +9.32% |
| 2023 | -- | +7.00% |
| 2022 | -- | +2.56% |
| 2021 | -- | +2.49% |
Bandhan Retirement vs LIC MF Gilt: Rolling Returns
Every holding period of both funds
Rolling returns
Every 1-year holding period, 506 of them, one for each trading day from 21-10-2024 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
Bandhan Retirement Fund (Direct)
LIC MF Gilt Fund (Direct)
to
Dec 2024Apr 2024
to
Apr 2025Aug 2024
to
Aug 2025Dec 2024
to
Dec 2025May 2025
to
May 2026Aug 2025
to
Aug 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Bandhan Retirement | 7.1 | 33.8 | 41.7 | 7.7 | 4.7 | 3.8 | 1.2 | 6.9% | 6.1% | −4.5% | 25.5% |
| LIC MF Gilt | 10.8 | 47.5 | 27.7 | 14.1 | 0.0 | 0.0 | 0.0 | 5.0% | 4.1% | −3.8% | 12.4% |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. Every fund is measured over the days all of them have, from 19-10-2023. Past returns do not promise future returns.
Bandhan Retirement vs LIC MF Gilt: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 19-10-2023 to 30-10-2026: 37 instalments, ₹3,70,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bandhan RetirementBandhan Retirement Fund (Direct) | ₹3,70,000 | ₹3,87,963 | ₹17,963 | 3.0% |
| LIC MF GiltLIC MF Gilt Fund (Direct) | ₹3,70,000 | ₹3,90,599 | ₹20,599 | 3.5% |
Bandhan RetirementBandhan Retirement Fund (Direct)
LIC MF GiltLIC MF Gilt Fund (Direct)
Amount invested
From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
Bandhan Retirement vs LIC MF Gilt: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bandhan Retirement Fund (Direct) | LIC MF Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | −3.52% | +2.20% |
| Standard deviation | 8.91% | 4.27% |
| Sharpe ratio | -0.98 | -0.71 |
| Sortino ratio | -1.32 | -1.00 |
| Maximum drawdown | −9.8% (30-03-2026) | −4.1% (02-04-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Bandhan Retirement Fund (Direct) | LIC MF Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +9.08% | +5.41% |
| Standard deviation | 8.35% | 3.47% |
| Sharpe ratio | 0.37 | -0.18 |
| Sortino ratio | 0.50 | -0.25 |
| Maximum drawdown | −9.8% (30-03-2026) | −5.6% (02-04-2026) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 30-10-2023 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Bandhan Retirement Fund (Direct) | LIC MF Gilt Fund (Direct) |
|---|---|---|
| Return (CAGR) | +8.50% | +6.98% |
| Standard deviation | 8.34% | 3.49% |
| Sharpe ratio | 0.30 | 0.27 |
| Sortino ratio | 0.40 | 0.38 |
| Maximum drawdown | −9.8% (30-03-2026) | −7.4% (19-08-2013) |
| Beta | -- | -- |
| Alpha | -- | -- |
From daily NAVs, 19-10-2023 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
Bandhan Retirement Fund (Direct)
LIC MF Gilt Fund (Direct)
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bandhan Retirement Fund (Direct) | −9.8% | 02-01-2026 | 30-03-2026 | Not yet | -- | −5.0% |
| LIC MF Gilt Fund (Direct) | −5.6% | 28-05-2025 | 02-04-2026 | 25-06-2026 | 3 months | −1.7% |
From daily values since 19-10-2023, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Bandhan Retirement Fund (Direct)
LIC MF Gilt Fund (Direct)
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 3-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Bandhan Retirement Fund (Direct)
LIC MF Gilt Fund (Direct)
Bandhan Retirement vs LIC MF Gilt: Portfolio Overlap
From each fund's latest monthly portfolio: Bandhan Retirement Fund, August 2026; LIC MF Gilt Fund, September 2026
Holdings in common
- Overlap
- 21.3%
- Held by both
- 1
- Only in Bandhan Retirement
- 54
- Only in LIC MF Gilt
- 4
| Security | % of Bandhan Retirement | % of LIC MF Gilt |
|---|---|---|
| 7.3% GOI (MD 19/06/2053) | 21.31% | 33.43% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 21.3% means 21.3% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in Bandhan Retirement Fund
| Security | % of fund |
|---|---|
| Bharti Airtel Limited | 5.45% |
| Reliance Industries Limited | 5.08% |
| ICICI Bank Limited | 4.80% |
| HDFC Bank Limited | 4.09% |
| Titan Company Limited | 3.91% |
Largest holdings only in LIC MF Gilt Fund
| Security | % of fund |
|---|---|
| 91 DAYS TBILL RED 10-12-2026 | 22.49% |
| 364 DAYS TBILL RED 10-12-2026 | 17.99% |
| 182 DAYS TBILL RED 17-12-2026 | 11.23% |
| 7.34% Government of India | 11.17% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bandhan Retirement | LIC MF Gilt |
|---|---|---|
| Equity | 72.1% | 0.0% |
| Debt | 21.3% | 96.3% |
| Cash and others | 6.6% | 3.7% |
Market cap of stocks
| Market cap | Bandhan Retirement | LIC MF Gilt |
|---|---|---|
| Large Cap | 56.2% | -- |
| Mid Cap | 11.1% | -- |
| Small Cap | 4.8% | -- |
Share of the whole fund. Groups follow AMFI's latest list: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Largest sectors
| Sector | Bandhan Retirement | LIC MF Gilt |
|---|---|---|
| Banks | 16.7% | 0.0% |
| Telecom - Services | 5.5% | 0.0% |
| Petroleum Products | 5.1% | 0.0% |
| Consumer Durables | 4.9% | 0.0% |
| Construction | 3.8% | 0.0% |
| IT - Software | 3.8% | 0.0% |
The six largest sectors of each fund's stocks, % of the fund.
Bandhan Retirement vs LIC MF Gilt: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bandhan Retirement Fund | LIC MF Gilt Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.03% | 0.70% |
| Base expense ratio (Direct) | 0.73% | 0.59% |
| Total expense ratio (Regular) | 2.62% | 1.10% |
| Base expense ratio (Regular) | 2.10% | 0.97% |
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, transaction costs, and levies with GST.
More comparisons
Each fund against the others of its category
Bandhan Retirement Fund vs LIC MF Gilt Fund: Frequently Asked Questions
What is the difference between Bandhan Retirement Fund and LIC MF Gilt Fund?
Bandhan Retirement Fund is a Solution fund, LIC MF Gilt Fund is a Gilt fund, run by Bandhan Mutual Fund and LIC Mutual Fund. Their portfolios overlap 21.3%. Bandhan Retirement Fund charges 1.03% a year and LIC MF Gilt Fund 0.70%.
Which has given higher returns, Bandhan Retirement Fund or LIC MF Gilt Fund?
Over 1 year: Bandhan Retirement Fund −3.52%, LIC MF Gilt Fund +2.20%. Over 3 years: Bandhan Retirement Fund +9.08% a year, LIC MF Gilt Fund +5.41% a year. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bandhan Retirement Fund or LIC MF Gilt Fund?
LIC MF Gilt Fund charges less: 0.70% a year against 1.03%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bandhan Retirement Fund and LIC MF Gilt Fund overlap?
21.3%. They hold 1 of the same securities, the largest shared ones being 7.3% GOI (MD 19/06/2053). From each fund's latest monthly portfolio.
Which is riskier, Bandhan Retirement Fund or LIC MF Gilt Fund?
On SEBI's riskometer, Bandhan Retirement Fund is rated Very High and LIC MF Gilt Fund Low to Moderate. Over 3 years, the standard deviation of daily returns was 8.35% and 3.47% a year.
Which is better for SIP, Bandhan Retirement Fund or LIC MF Gilt Fund?
Over the last 3 years, a monthly SIP of ₹10,000 from 19-10-2023 to 30-10-2026 grew to ₹3,87,963 in Bandhan Retirement Fund (XIRR 3.0% a year) and ₹3,90,599 in LIC MF Gilt Fund (XIRR 3.5% a year). Both received 37 instalments. Past returns do not promise future returns.
Can I invest in both Bandhan Retirement Fund and LIC MF Gilt Fund?
Yes. 21.3% of each fund's money sits in the same holdings, so some of the two investments would move together.
Who manages Bandhan Retirement Fund and LIC MF Gilt Fund?
Bandhan Retirement Fund: Vishal Biraia, Gautam Kaul, Viraj Kulkarni, Ritika Behera, Gaurav Satra, Brijesh Shah. LIC MF Gilt Fund: Pratik Harish Shroff, Rahul Singh.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each scheme summary document.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.