The Nifty India Defence Total Return Index (TRI) has risen 27.4 per cent over the past three months, outperforming the Nifty 50 TRI, which gained 8.2 per cent. Defence-focused mutual funds have mirrored this rally. The category includes one active fund, HDFC Defence Fund, with assets under management (AUM) of ₹5,487.27 crore, and passive schemes from three fund houses — Motilal Oswal, Aditya Birla Sun Life, and Groww. These schemes manage ₹9,133.82 crore collectively.
