SBI Retirement Benefit Fund - Conservative Hybrid
This is the Direct plan of SBI Retirement Benefit Fund - Conservative Hybrid — bought from the fund house, with no distributor commission in its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.
NAV history
Scorecard
★★☆☆☆2/5 vs 27 of 28 Retirement Fund peers- Performance 60%
- Risk 15%
- Cost 10%
- Downside 15%
How this is computed
Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Retirement Fund (same plan and option). 27 of the 28 Retirement Funds in this cohort carry the full record the stars need, so they are the ones ranked against.
3Y CAGR +6.63% · ranks 22 of 27 Retirement Funds
Volatility 5.7% vs 9.2% category avg
1.3% expense vs 1.1% category avg
100% of rolling 3Y windows were positive
Strengths & concerns
Generated from this fund's own numbers against its sub-category — each point names the figure behind it.
Strengths
- Less volatile than its Retirement Fund peers (5.7% vs 9.2%)
- Consistent — positive in 100% of rolling 3-year windows
Concerns
- 3-year return (+6.63%) trails the Retirement Fund average (+9.42%)
- 5-year return (+7.36%) trails the Retirement Fund average (+8.55%)
- Weaker risk-adjusted returns — Sharpe 0.02 below the Retirement Fund average of 0.23
- High expense ratio (1.27%) vs the Retirement Fund average of 1.12%
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk
Fund vs category average (Retirement Fund)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | -2.04% | -3.51% | +1.47% |
| 3M abs | -1.44% | -2.69% | +1.25% |
| 6M abs | +5.84% | +6.21% | -0.37% |
| 1Y CAGR | +0.68% | +0.55% | +0.13% |
| 3Y CAGR | +6.63% | +9.42% | -2.79% |
| 5Y CAGR | +7.36% | +8.55% | -1.19% |
Category average across peers in Retirement Fund (up to 28 funds with data), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).
Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.
Category rank
Vs 28 peers in Retirement Fund
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
60 monthly installments of ₹10,000 into SBI Retirement Benefit Fund - Conservative Hybrid, valued at the latest NAV. XIRR annualizes for each installment’s timing.
Calendar-year returns
What the fund actually returned in each year, not the smoothed average.
| Year | Fund | |
|---|---|---|
| 2026part | -0.38% | |
| 2025 | +5.48% | |
| 2024 | +9.91% | |
| 2023 | +15.83% | |
| 2022 | +5.67% | |
| 2021part | +13.54% |
January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in.
Taxation
Taxed as equityThis is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.
Flat, on the whole gain
On gains above ₹1.25 L per financial year
Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.
Asset allocation
As on 31 Aug 2026 · AMC disclosure- Debt43.29%
- Equity39.35%
- Cash & Equivalents17.36%
Fund size over time
Quarterly average AUM · AMFIDown +8% from its peak of ₹271.82Cr in January - March 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.
Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.
AMC Profile
SBI Mutual Fund is a joint venture between the State Bank of India and Amundi of France, and was set up in 1987 as the first fund house in India outside UTI. It is the largest by assets, helped by managing a share of the EPFO's ETF investments.
Fund Managers
ABArdhendu BhattacharyaStart date not disclosed
Fixed Income Dealer Fund Manager
PGDM-Goa Institute of Management
Mr. Ardhendu Bhattacharya (Fixed Income Dealer) joined SBIFML in April 2019. He has over 12 years of experience in finance sector. Prior to joining SBIFML, he was previously associated with following entities. ICICI Bank Limited (June 2014 – April 2019) - Primarily involved in trading in money markets and short term corporate bonds Citibank N.A. (April 2010 – June 2013) - Principally handled currency and trade sales Currently he is managing debt portion of SBI Retirement Benefit Fund - Aggressive Plan, SBI Retirement Benefit Fund - Aggressive Hybrid Plan, SBI Retirement Benefit Fund - Conservative Hybrid Plan and SBI Retirement Benefit Fund - Conservative Plan, SBI Floating Rate Debt Fund and Co-Fund Manager of SBI Corporate Bond Fund, SBI Banking & PSU Fund, SBI Arbitrage Opportunities Fund, SBI Long Duration Fund, SBI Income Plus Arbitrage Active FOF, and SBI Dynamic Asset Allocation Active FOF.
RSRohit ShimpiStart date not disclosed
Fund Manager
CFA Charter Holder
Rohit has been with SBI Funds Management since 2006. He has been engaged with our International Fund Management since March 2011. Rohit has also been a member of our research team. Before joining SBI funds Management, he worked with Television Eighteen Gro up as a research analyst for the firm’s flagship financial news channel, CNBC TV18. Prior to that, he was an analyst with JP Morgan’s offshore research centre. Rohit started his career as a management trainee with HDFC Standard Life Insurance. Rohit is a Commerce graduate from Mumbai University and has completed his Post Graduate Diploma in Business Management (PGDBM) with specialization in Finance from Sydenham Institute of Management Studies. He is also a Charter holder of the CFA Institute, USA. Currently he is managing SBI ESG Exclusionary Strategy Fund, SBI Dividend Yield Fund, SBI PSU Fund, and equity portion of SBI Retirement Benefit Fund - Aggressive Plan, SBI Retirement Benefit Fund - Aggressive Hybrid Plan, SBI Retirement Benefit Fund - Conservative Hybrid Plan, SBI International Access – US Equity FoF and SBI Retirement Benefit Fund - Conservative Plan.
Fund manager, benchmark and dealing terms from this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.
Explore from here
SBI in the news
Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.
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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.
Frequently asked questions
What is the NAV of SBI Retirement Benefit Fund - Conservative Hybrid?
As of 05 Oct 2026, the NAV of SBI Retirement Benefit Fund - Conservative Hybrid is ₹16.14 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has SBI Retirement Benefit Fund - Conservative Hybrid delivered?
SBI Retirement Benefit Fund - Conservative Hybrid has returned +0.68% over 1 year, +6.63% per year over 3 years, +7.36% per year over 5 years and +8.77% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.
What is the expense ratio of SBI Retirement Benefit Fund - Conservative Hybrid?
SBI Retirement Benefit Fund - Conservative Hybrid charges an expense ratio of 1.27% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.
What are the top holdings of SBI Retirement Benefit Fund - Conservative Hybrid?
SBI Retirement Benefit Fund - Conservative Hybrid's largest holdings are 6.64% CGL 2031 (10.1%), 7.74% State Government of Tamil Nadu 2036 (7.9%), Bharat Sanchar Nigam Ltd. (3.9%), National Bank for Agriculture and Rural Development (3.9%) and Summit Digitel Infrastructure Pvt. Ltd. (2.9%). Holdings are disclosed monthly and change over time.
How risky is SBI Retirement Benefit Fund - Conservative Hybrid?
SBI Retirement Benefit Fund - Conservative Hybrid is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 5.7% and its worst peak-to-trough fall in our sample was -6.9%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.
What does the Sharpe ratio of 0.02 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. SBI Retirement Benefit Fund - Conservative Hybrid's 0.02 means it has rewarded its volatility with excess return. Higher is better.
Who manages SBI Retirement Benefit Fund - Conservative Hybrid?
SBI Retirement Benefit Fund - Conservative Hybrid is managed by Ardhendu Bhattacharya and Rohit Shimpi at SBI.
How is SBI Retirement Benefit Fund - Conservative Hybrid taxed?
SBI Retirement Benefit Fund - Conservative Hybrid is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.