ICICI Prudential Innovation Fund Direct Growth
Equity
Direct
Equity - Other
NAV as on 21-11-2024
₹ 17.24
1D
Inception Returns
41.5%
/yr
About ICICI Prudential Innovation Fund Direct Growth
ICICI Prudential Innovation Fund Direct Growth is an equity fund. This fund was started on 2 May, 2023. The fund is managed by Vaibhav Dusad, Anish Tawakley. The fund could potentially beat inflation in the long-run.
Key Parameters
- ICICI Prudential Innovation Fund Direct Growth has ₹6323 Cr worth of assets under management (AUM) as on Oct 2024 and is more than category average.
- The fund has an expense ratio 0.7.
Returns
ICICI Prudential Innovation Fund Direct Growth has given a CAGR return of 41.49% since inception. Over the last 1 year the fund has given a CAGR return of 39.71%.
Holdings
ICICI Prudential Innovation Fund Direct Growth has allocated its funds majorly in Cash Equivalent, Industrial, Health, Consumer Cyclical, Tech, Financial Services, Consumer Defensive, Basic Materials, Communication, Utilities, Energy. Its top holdings are Maruti Suzuki India Ltd, ICICI Bank Ltd, Pidilite Industries Ltd, Sun Pharmaceuticals Industries Ltd, HDFC Life Insurance Co Ltd
Taxation
As it is a equity - other mutual fund the taxation is as follows:For short term (less than a year) capital gains will be taxed at 15%For long term (more than 1 year) capital gains will be taxed at 10% without indexation benefitDividends will always be taxed at slab rate. Gains upto Rs 1 lakh are exempt in case of long term.
Investment objective of ICICI Prudential Innovation Fund Direct Growth
The Scheme is an open ended thematic fund. The objective of the Scheme is to generate long term capital appreciation by predominantly investing in equity & equity related securities of companies and units of global mutual funds/ETFs that can benefit from innovation strategies and theme. However, there can be no assurance or guarantee that the investment objective of the Scheme will be achieved.
Minimum Investment and lockin period
Minimum investment for lump sum payment is INR 5000.00 and for SIP is INR 100.00. ICICI Prudential Innovation Fund Direct Growth has no lock in period.
Historical NAV & Returns
ICICI Prudential Innovation Fund Direct Growth Overview
| Expense ratio | 0.68% |
Benchmark | IISL Nifty 500 TR INR |
| AUM | ₹6323 Cr |
| Inception Date | 2 May, 2023 |
| Min Lumpsum/SIP | ₹5000/₹100 |
Exit Load | 1.0% |
| Lock In | No Lock-in |
TurnOver | 0% |
| STCG | Redeeming before 1 year, returns taxed at 20%. |
| LTCG | After 1 year, 12.5% tax on returns over ₹1.25 lakh/year. |
| Risk |   Very High Risk |
Trailing Returns
as on (21-Nov-24)
Fund Distribution
as on (31-Oct-24)
- This fund’s returns stands at -6.10% whereas the fund’s underlying benchmark Nifty 500 returns stands at -6.52% as on Oct'24
- This fund outperformed Nifty 500 by 0.42% in Oct'24
- AUM of the fund stands at 6.7K Cr as of Oct'24
- AUM has remained same between Oct'24 and Sep'24
Top 3 Sectors in October were Industrial, Tech & Consumer Cyclical
Top Growth Drivers | 1M Return |
|---|---|
 GE Vernova T&D India Ltd | 7.3% |
 Netweb Technologies India Ltd | 3.6% |
ICICI Prudential Innovation Fund Direct Growth Highlights
Very High Risk
About the fund
Fund Allocations
AUM size ₹6323 Cr
Expense Ratio 0.68%
Frequently Asked Questions for ICICI Prudential Innovation Fund Direct Growth
ICICI Prudential Innovation Fund Direct Growth | Absolute Returns | CAGR Returns |
1 Month Returns | -6.25% | -6.25% |
6 Month Returns | 4.61% | 4.61% |
1 Year Returns | 39.71% | 39.71% |
3 Years Returns | 0% | 0% |
5 Years Returns | 0% | 0% |
- Click Buy on the fund name.
- Input the amount you are looking to invest.
- Select Lump Sum or SIP (Weekly, Monthly or Quarterly).
- Select your bank account and proceed with Payment.
Fund Name | Alpha 1 Year | Alpha 3 Years | Alpha 5 Years |
ICICI Prudential Innovation Fund Direct Growth | 14.36 | - | - |
Fund Name | Beta 1 Year | Beta 3 Years | Beta 5 Years |
ICICI Prudential Innovation Fund Direct Growth | 0.93 | - | - |
Fund Name | Sharpe Ratio 1 Year | Sharpe Ratio 3 Years | Sharpe Ratio 5 Years |
ICICI Prudential Innovation Fund Direct Growth | 2.82 | - | - |
Fund Name | Standard Deviation 1 Year | Standard Deviation 3 Years | Standard Deviation 5 Years |
ICICI Prudential Innovation Fund Direct Growth | 13.46 | - | - |