ICICI Prudential Top 100 Fund: A reliable large-cap offering
The fund managers initially identify sectors which provide a contrarian play and then pick quality sectoral stocks that offer value on a relative basis.
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ET Wealth collaborates with Value Research to analyse top mutual funds. We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.
ICICI Prudential Top 100 fund
HOW HAS THE FUND PERFORMED?
The fund has outperformed its large-cap peers over the past decade. With a 10-year return of 10.65%, the fund mirrors the category (average return 10.82%) and has outperformed the benchmark (7.3%) by a good margin.
Growth of Rs 10,000 vis-a-vis category and benchmark The fund managers initially identify sectors which provide a contrarian play and then pick quality sectoral stocks that offer value on a relative basis.
Annualised performance (%) The fund has outperformed large-cap category average across time periods. The fund managers initially identify sectors which provide a contrarian play and then pick quality sectoral stocks that offer value on a relative basis.
Yearly performance (%) The fund has been outperforming consistently in recent years. The fund managers initially identify sectors which provide a contrarian play and then pick quality sectoral stocks that offer value on a relative basis.
BASIC FACTS
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Date of launch: 7 Sep 1998 Category: Equity Type: Multi Cap / Large Cap Average AUM: Rs 1,493.43 cr
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Benchmark: Nifty 50 Index
WHAT IT COSTS NAVS* Growth option: Rs 255 Dividend option: Rs 17 Minimum investment: Rs 5,000 Minimum SIP amount: Rs 1,000 Expense ratio^ (%): 2.50 Exit load: 1% for redemption within 365 days *As on 22 Nov 2016 ^As on 30 Sep 2016
FUND MANAGER Sankaran Naren / Mittul Kalawadia Tenure: 4 years and 8 months / 4 years and 8 months Education: B.Tech, MBA Finance / M.Com, CA
WHERE DOES THE FUND INVEST? The fund managers initially identify sectors which provide a contrarian play and then pick quality sectoral stocks that offer value on a relative basis.
HOW RISKY IS IT? The fund managers initially identify sectors which provide a contrarian play and then pick quality sectoral stocks that offer value on a relative basis.
All data on this page as on 31 Oct 2016, unless specified. Source: Value Research
SHOULD YOU BUY? Although classified as a multi-cap fund by Value Research, this fund is distinctly large-cap focused. It has been among the consistent outperformers in the large-cap category in recent years, with a healthy alpha (index outperformance).
It adopts a value-conscious investment style, where the fund managers initially identify sectors which provide a contrarian play—priced cheap in relation to growth prospects—and then pick quality sectoral stocks that offer value on a relative basis. This value-driven approach is evident in the portfolio’s lower average market capitalisation compared to its category.
While this approach is fraught with risk, the presence of a highly skilled manager and proven execution of the strategy should comfort investors looking for a large-cap fund.
