ICICI Prudential Equity & Debt Fund completed 23 years in November 2022, with total assets under management (AUM) at Rs 21,109.35 crore as of October 31, 2022, it said on Thursday.
It is now one of the largest offerings in the category based on assets.
Speaking on the occasion, Abhijit Shah, head of marketing, digital, and customer experience of ICICI Prudential AMC, said the fund “stood the test of time and markets over the past 23 years.”
The scheme provides a mix of two asset classes—equity and debt. This approach, he said, over the long term, helped investors “generate wealth while limiting portfolio downside during market downturns”.
In a press release, citing examples, the fund house explained that a lumpsum investment of Rs 10 lakh at the time of inception (Nov 3, 1999) would have become about Rs 2.4 crore as of Oct 31, 2022.
A similar investment in Nifty 50 TRI, the additional benchmark of the scheme, would have yielded around Rs 1.8 crore, it said.
Likewise, a monthly investment of Rs 10,000 via the systematic investment plan (SIP), or a total investment of Rs 27.6 lakh since inception, would have grown to Rs 2.3 crore as of Oct 31, 2022.
The ICICI Prudential Equity & Debt Fund is one of the top funds on the OLM 50 list, which is updated and reviewed periodically by Outlook Money.
About The Fund
This open-ended fund, a hybrid plan, invests mainly in equity and equity-related instruments across market capitalization. The equity exposure ranges between 65 per cent and 80 per cent, while its debt exposure is between 20 per cent and 35 per cent.
The fund house said the scheme would continue to “remain sector agnostic”. Concerning debt allocation, the fund will “tactically allocate to well-researched corporate securities and longer duration fixed income securities with credit rating AA, and above” for realistic accrual, it said.
The scheme was launched on November 3, 1999.
ICICI Prudential Mutual Fund launched several mutual fund schemes in recent times, adding to its expanding product line. On October 6, 2022, it launched the ICICI Prudential Transportation
and Logistics Fund, one of the thematic funds in its kitty. Before that, it launched the ICICI Prudential Nifty Auto Index Fund, dubbed India’s first auto index fund
