Over the last one year the fund has delivered 33% outperforming its benchmark by 7%
One of the oldest and the prominent offering in the multi asset fund category is the ICICI Prudential Multi-Asset Fund.
The Fund is managed by veteran fund manager and ED & CIO of ICICI Prudential AMC, S Naren, and is supported by fund managers, Ihab Dalwai, Manish Banthia, Akhil Kakkar, Gaurav Chikane (for ETCDs) and Sri Sharma (for derivatives transactions).
Performance
In its remarkable two-decade long history, the fund has delivered an outstanding performance. An investment of Rs. 1 lakh made at the time of inception (October 31, 2002), would have grown to Rs. 65.4 lakh by April 30, 2024, resulting in an impressive growth of 21.5% on compound annual growth rate (CAGR) basis. In comparison, an equivalent investment in the benchmark index, would have yielded Rs. 30 lakhs, representing a CAGR of 17.1%.
Even on a three-year basis, as of Apr 30, 2024, the fund has outperformed its benchmark by 9.2%. The fund achieved an impressive 24.7% CAGR during this period, surpassing the benchmark’s 15.5% CAGR. Even on a one-year basis, the fund delivered an impressive return of 33.1%, surpassing the benchmark’s 26%, showcasing an outperformance of over 7.1%. In any 5-year and 10-year periods, the scheme has never given negative returns. (Data as on April 30, 2024).
The fund’s SIP returns is also a testament of the team’s collective effort in managing the fund in the best possible way. Over the past five years, a monthly SIP of Rs 10,000 in the fund would have grown from Rs 6 lakh to Rs 10.98 lakh, achieving a robust 24.47% XIRR. A similar SIP in the Scheme’s benchmark, would have yielded a return of 16.98% during the same period. (Data as on April 30, 2024).
(Disclaimer – Past performance may or may not be sustained in future)
Portfolio
The fund with an AUM of Rs 39,534.59 crore, is one of the largest names in its category. In terms of portfolio composition, 53.5% is allocated to equity, debt forms 28.1%, and other asset classes such as commodities, REITs & InvITs, etc. make up the remaining 18.4%. When it comes to equity allocation, the fund has the flexibility to invest across market capitalisations. Thus far, the fund has taken a contrarian approach to investing which has worked very well for the portfolio. Currently, the portfolio is large cap oriented with power, agriculture and agri input, retailing, transportation, pharma and healthcare services being the overweight sectors.
When it comes to the debt portion of the portfolio, bulk of investment is in sovereign securities, certificates of deposits of top-tier banks and corporate bonds of AAA-rated securities, all of which will ensure steady fixed income to the portfolio.
The scheme is suitable for investors who are looking for diversified exposure across asset classes. Investors who wish to invest across multiple asset classes could consider investing in this scheme with an investment horizon of 5 years or above.
