ICICI Prudential Equity & Debt Fund has completed 23 years. With an AUM of over Rs 21,000 crore, this is one of the largest schemes in its category in terms of assets. The scheme was launched on November 3, 1999.
In a statement, ICICI Prudential AMC said that a lump sum investment of Rs 10 lakh in this scheme at the time of inception would be approximately worth Rs. 2.4 crore (as of October 31, 2022). A similar investment in Nifty 50 TRI (additional benchmark of the scheme) would have yielded approximately Rs. 1.8 crore.
In terms of SIP performance, a monthly investment of Rs 10,000 via SIP in this fund since inception, which would amount to a total investment of Rs 27.6 lakhs, would have grown to Rs 2.3 crore as of October 31, 2022.
“ICICI Prudential Equity & Debt Fund has stood the test of time and markets over the past 23 years. We are happy that customers who came on board at varying points in this wealth creation journey could experience the positive investment experience. The scheme aims to provide a mix of two asset classes – equity and debt. Such an approach over the long term has aided investors to generate wealth while limiting the portfolio downside during market downturns,” Abhijit Shah, Head- Marketing, Digital & Customer Experience of ICICI Prudential AMC said.
Scheme Details
ICICI Prudential Equity & Debt Fund is an open-ended aggressive hybrid scheme investing predominantly in equity and equity-related instruments.
The Scheme’s equity exposure ranges between 65%-80% and debt exposure is maintained between 20%-35%.
“For equity allocation, the scheme can invest across market capitalization and remain sector agnostic. In terms of debt, the scheme can tactically allocate to well-researched corporate securities and longer duration fixed income securities with credit rating AA and above, which can offer reasonable accrual,” the AMC said.
The scheme is currently managed by Sankaran Naren, Mittul Kalawadia, Manish Banthia, Nikhil Kabra and Sri Sharma.
