ICICI Prudential Value Discovery Fund: Stellar long-term track record

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.

HOW HAS THE FUND PERFORMED?
With a 10-year return of 15.26%, the fund has delivered twice the category average return (7.84%) and 2.5-times the benchmark return (6.34%).


Growth of Rs 10,000 vis-a-vis category and benchmark

BASIC FACTS
Date of launch: 16 Aug 2004
Category: Equity
Type: Large Cap
Average AUM: Rs 17187.61 cr
Benchmark: S&P BSE 500 Index

WHAT IT COSTS
NAVs(As on 19 Dec 2017)
Growth option: Rs 145
Dividend option: Rs 34
Minimum investment: Rs 1,000
Minimum SIP Amount: Rs 500
Expense ratio (%): 2.11
Exit load: 1% for redemption within 365 days

FUND MANAGER
Mrinal Singh
Tenure: 6 years and 9 months
Education: B.E, PGDM

WHERE DOES THE FUND INVEST?

HOW RISKY IS IT?

Wherever not specified, data as on 30 Nov 2017. Source: Value Research

SHOULD YOU BUY?
This value-driven fund has changed colours considerably over the past few years. While retaining its multicap approach, it has shifted from focusing on the mid-cap segment to taking a heavy large-cap tilt. It has cut down the portfolio size from around 60 stocks in May 2015 to just over 40 now, even as the fund corpus has ballooned.

This is in response to the stretched valuations in the small- and mid-cap space, and a sharper focus on relative valuations for picking stocks. Since opportunities in the largecap space are comparatively limited, the portfolio has also contracted.

The fund has struggled recently as its strict emphasis on value puts it at odds with the momentum driven rally in the market. But its track record suggests that this approach bears good results over the long term.