Tata Retirement Savings Fund-Progressive Plan

March 31, 2026

RA Jainee

Tata Retirement Savings Fund-Progressive Plan

Fund at a Glance
NAV Growth (Rs.)	70.98
NAV Bonus (Rs.)	—
NAV IDCW (Rs.)	—
Min. Investment (Rs.)	5,000
Min. SIP Investment (Rs.)	150
Min. No of Cheques	12
Benchmark	NIFTY 500 TRI
AUM Rs.	2,014 Cr
	(As on 28-Feb-2026)
Expense	0.63%
1 Year Return (%)	-1.17
3 Year Return (%)	15.08
5 Year Return (%)	11.39
10 Year Return (%)	14.02
Return Since Launch	14.17%

⚖️ Sahifund Review – Tata Retirement Savings Fund-Progressive Plan ✔

PLUS: Retirement-focused discipline, decent long-term stability, low cost
✓ Tata Retirement Savings Fund – Progressive Plan offers a reasonably stable long-term record, with 15.08% 3-year, 11.39% 5-year, and 14.02% 10-year returns, making it a disciplined retirement-oriented equity option.
✓ Expense ratio of 0.63% is quite competitive for a retirement solution fund, which helps investors over long compounding periods.
✓ The portfolio is fairly diversified with 45 stocks, reducing concentration risk while still allowing active equity allocation.
✓ Allocation across large, mid and small caps gives it a balanced growth profile, suitable for investors building a retirement corpus gradually through SIP.
✓ The 5-year lock-in can actually work as a behavioural advantage by discouraging impulsive exits and helping long-term wealth creation.

MINUS: Average category performance, not a top alpha generator, lock-in reduces flexibility
⚖️ Despite stability, the fund has not been a category leader, and its long-term returns trail stronger flexi-cap peers like HDFC and Parag Parikh.
⚖️ Recent momentum remains soft, with -1.17% 1-year return, which shows the fund has not generated strong short-term alpha.
⚖️ Turnover at 51.10% is moderately high, suggesting active churn without clear category-leading results.
⚖️ The 5-year lock-in can be restrictive for investors who may need liquidity or prefer more flexible retirement planning options.

Sahifund View (Decisive Line):

Tata Retirement Savings Fund – Progressive Plan is a disciplined long-term retirement SIP option, but investors seeking stronger alpha may find better alternatives in top flexi-cap funds.

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| NFO Guidance |

What lies ahead? Below we decode returns consistency, portfolio concentration, peer positioning and risk profile in detail.

Suitable For Which Investors?
Flexi-cap funds are suitable for investors:
1. Seeking exposure in a diversified set of stocks for high returns
2. Aiming for long-term wealth creation
3. With a 5+ year investment horizon
4. Who are at ease with the market’s ups and downs
Note:
• Invest only through SIP
• The fund carries a lock-in period of 5 years or till the investor attains retirement age, whichever is earlier.

Fund’s Investment Strategy:
The fund seeks to provide a financial planning tool for long term financial security for investors based on their retirement planning goals.

Fund Manager:

1) Sonam Udasi
Education: Mr. Udasi is a B.Com and also holds PGDM(Finance).
Experience: Prior to joining Tata AMC he was associated with ASK Raymond James, JM Financial AMC, Prime Securities, BRICS Securities and IDBI Capital Market Services Ltd.
2) Murthy Nagarajan
Education: Mr. Nagarajan is a M.Com, ICWA and PGPMS.
Experience: Prior to joining Tata AMC he has worked with Quantum AMC as head fixed income, Mirae Asset Global Investment India Ltd.

Investment Details

Min. Investment (Rs)	5,000
Min. Addl Investment (Rs)	1,000
Min. SIP Investment (Rs)	150
Min. Withdrawal (Rs)	500
Min. No of Cheques	12
Min. Balance (Rs)	500
Lock-in Period	5 Years
Exit Load	1% for redemption within 1829 days

Basic Details of Tata Retirement Savings Fund-Progressive Plan

Fund House	Tata Mutual Fund
Launch Date	01-Jan-13
Return Since Launch	14.17%
Benchmark	NIFTY 500 TRI
Riskometer	Very High
Type	Open-ended
Assets (Rs.)	2,014 Cr
	(As on 28-Feb-2026)
Expense	0.63%
	(As on 28-Feb-2026)
Risk Grade	Average
Return Grade	Below Average
Turnover	51.10%