ICICI Prudential Banking and Financial Services Fund

NAV Date 09-12-2019
Fund Name Category NAV NAV Change 1 year %
ICICI Pru Balanced Advantage Fund(G) Hybrid - Equity Oriented 37.53 0.0100 11.40
ICICI Pru Bluechip Fund(G) Equity - Large Cap 43.5 0.0200 10.72
ICICI Pru Equity & Debt Fund(G) Hybrid - Equity Oriented 136.46 0.1700 09.95
ICICI Pru LT Equity Fund (Tax Saving)(D) Equity - Tax Saving 20.23 0.0100 08.31
ICICI Pru Midcap Fund(G) Equity - Mid Cap 93.11 0.1800 02.25
ICICI Pru Multi-Asset Fund(G) Equity - Large Cap 269.85 0.5508 08.78
ICICI Pru Savings Fund(G) Debt - Liquid 380.13 0.0641 08.90
ICICI Pru Short Term Fund(G) Debt - Short Term Income 41.1 0.0005 09.71
ICICI Pru Value Discovery Fund(G) Equity - Large Cap 139.7 0.2400 02.52
ICICI Pru Child Care Fund-Gift Plan Hybrid - Equity Oriented 142.74 0.0200 08.78
ICICI Pru Child Care Fund-Gift Plan-Direct Plan Hybrid - Equity Oriented 150.75 0.0100 09.70
ICICI Pru Equity & Debt Fund(G)-Direct Plan Hybrid - Equity Oriented 146.79 0.1900 10.70
ICICI Pru FMCG Fund(G) Equity - FMCG 247.09 1.1000 08.18
ICICI Pru FMCG Fund(G)-Direct Plan Equity - FMCG 260.27 1.1400 09.31
ICICI Pru Floating Interest Fund(B) Debt - Ultra Short Term 148.66 0.0049 08.56
ICICI Pru Floating Interest Fund(D) Debt - Ultra Short Term 148.61 0.0048 08.52
ICICI Pru Floating Interest Fund(D)-Direct Plan Debt - Ultra Short Term 152.37 0.0043 09.73
ICICI Pru Floating Interest Fund(DP) Debt - Ultra Short Term 148.61 0.0048 08.52
ICICI Pru Floating Interest Fund(DP)-Direct Plan Debt - Ultra Short Term 152.37 0.0043 09.73
ICICI Pru Floating Interest Fund(G) Debt - Ultra Short Term 294.32 0.0095 08.52
ICICI Pru Floating Interest Fund(G)-Direct Plan Debt - Ultra Short Term 309.46 0.0088 09.37
ICICI Pru Floating Interest Fund-Option A(G) Debt - Ultra Short Term 294.66 0.0093 08.53
ICICI Pru Floating Interest Fund-Option B(G) Debt - Ultra Short Term 318.16 0.0100 08.53
ICICI Pru LT Equity Fund (Tax Saving)(G)-Direct Plan Equity - Tax Saving 407.04 0.2700 10.81
ICICI Pru Large & Mid Cap Fund(G) Equity - Large Cap 324.62 0.8300 07.24
ICICI Pru Large & Mid Cap Fund(G)-Direct Plan Equity - Large Cap 346.23 0.8600 08.18
ICICI Pru Liquid Fund(B)-Direct Plan Debt - Liquid 146.03 0.0239 06.81
ICICI Pru Liquid Fund(D) Debt - Liquid 145.24 0.0235 06.74
ICICI Pru Liquid Fund(D)-Direct Plan Debt - Liquid 145.68 0.0239 06.81
ICICI Pru Liquid Fund(DP)-Direct Plan Debt - Liquid 145.68 0.0239 06.81
ICICI Pru Liquid Fund(G) Debt - Liquid 287.53 0.0465 06.74
ICICI Pru Liquid Fund(G)-Direct Plan Debt - Liquid 288.71 0.0472 06.81
ICICI Pru Liquid Fund-Inst(G) Debt - Liquid 453.24 0.0691 06.35
ICICI Pru Liquid Fund-Inst-1(G) Debt - Liquid 270.08 0.0420 06.45
ICICI Pru Liquid Fund-Ret(G) Debt - Liquid 441.92 0.0674 06.35
ICICI Pru Money Market Fund(B)-Direct Plan Debt - Liquid 147.5 0.0700 08.26
ICICI Pru Money Market Fund(G) Debt - Liquid 272.62 0.1263 08.12
ICICI Pru Money Market Fund(G)-Direct Plan Debt - Liquid 274.25 0.1297 08.25
ICICI Pru Money Market-Ret(G) Debt - Liquid 299.68 0.1306 07.76
ICICI Pru Multi-Asset Fund(G)-Direct Plan Equity - Large Cap 285.81 0.5689 09.59
ICICI Pru Multicap Fund(G) Equity - Multi Cap 291.53 0.3000 07.12
ICICI Pru Multicap Fund(G)-Direct Plan Equity - Multi Cap 309.69 0.2900 08.16
ICICI Pru Savings Fund(B) Debt - Ultra Short Term 151.65 0.0255 08.90
ICICI Pru Savings Fund(D) Debt - Ultra Short Term 151.89 0.0256 08.90
ICICI Pru Savings Fund(D)-Direct Plan Debt - Ultra Short Term 153.27 0.0270 09.03
ICICI Pru Savings Fund(DP)-Direct Plan Debt - Ultra Short Term 153.27 0.0270 09.03
ICICI Pru Savings Fund(G)-Direct Plan Debt - Ultra Short Term 382.99 0.0674 09.03
ICICI Pru Savings Fund-Ret(G) Debt - Ultra Short Term 215.92 0.0235 08.11
ICICI Pru Sensex ETF Equity - ETF 430.94 0.4483 14.66
ICICI Pru Value Discovery Fund(G)-Direct Plan Equity - Multi Cap 148.94 0.2500 03.17
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This is a mutual fund that concentrates on investing in the banking and financial services sector. It can invest as much as 70% in banks and 25% in NBFCs. It also provides investors with the opportunity to create wealth over a long term. It features facilities like 0 entry loads, systematic investment plans, systematic withdrawals and transfers too. Investments in this fund can either be made in lump sums or in monthly/quarterly instalments.

Type or nature of fund

This is an open-ended sectoral fund

Investment objective

The objective of this fund is to concentrate investments in the banking and financial services sector with the aim of providing long term wealth creation. It also may invest a small amount in short term debt instruments as a defence measure aging erratic movement in the equity markets.

Fund information

Inception date 22 August 2008
CRISIL rank This product has not been rated by CRISIL
Plans Regular and Direct
Options Growth and Dividend with the default option being dividend reinvestment
Schemes
  • ICICI Prudential Banking and Financial Services Fund - Direct Plan - Dividend
  • ICICI Prudential Banking and Financial Services Fund - Direct Plan - Growth
  • ICICI Prudential Banking and Financial Services Fund - Regular Plan - Dividend
  • ICICI Prudential Banking and Financial Services Fund - Regular Plan - Growth
Entry load Nil. However, if the investment is made through an authorised distributor then the investor will have to pay them a commission.
Exit load 1% if the amount being withdrawn or switched has been invested for less than a year.
Minimum investment
  • For new investments Rs. 5,000.
  • For additional investments Rs. 1,000
SIP
  • Rs. 1,000 for monthly SIPs
  • Rs. 5,000 for quarterly SIPs
Product label
  • The risk factor of this fund is High.
  • It is meant for those looking for long term wealth generation and are ok with high risk investments.
Benchmark S&P BSE BANKEX This is an index that is made up of companies that are a part of BSE 500 and are classified as banks.
SWP The minimum systematic withdrawal plan is Rs. 500.
STP Available. The minimum STP out amount is Rs. 1,000 and the maximum tenure 10 years
Redemption The minimum amount that can be withdrawan is Rs. 500.
 

Fund manager(s)

Vinay Sharma

  • Education: MBA from IIM Calcutta and CFA from AIMR USA
  • Past experience:
    • ICICI Prudential Asset Management Limited – PMS Fund Manager
    • ICICI Prudential Asset Management Limited – Equity Analyst
    • AIG Global Asset Management India Limited - Equity Analyst -
    • J.P.Morgan India Private Limited - Equity Analyst
  • Other funds managed
    • ICICI Prudential Dividend Yield Equity Fund
    • ICICI Prudential Select Large Cap Fund
    • ICICI Prudential Multiple Yield Funds
    • ICICI Prudential Capital Protection Oriented Funds
    • ICICI Prudential Growth Fund Series 2
    • ICICI Prudential Growth Fund Series 4
    • ICICI Prudential Growth Fund Series 5
    • ICICI Prudential Growth Fund Series 6

Investment philosophy or strategy

The investment philosophy of this fund is to invest primarily in the banking sector. It will also allocate a sizeable amount of investment in the financial services sector and a small amount for short term debt instruments. To pick the stocks for investment, the fund adopts a bottom-up strategy.

Portfolio (As of June 30, 2015)

Company/Sector Investment
Banks
  • HDFC Bank Ltd. 15.99%
  • ICICI Bank Ltd. 12.12%
  • IndusInd Bank Ltd. 8.70%
  • Axis Bank Ltd. 7.39%
  • The Federal Bank Ltd. 5.86%
  • The Federal Bank Ltd. - Futures 1.00%
  • DCB Bank Ltd. 3.94%
  • State Bank Of India 3.86%
  • City Union Bank Ltd. 3.22%
68.40%
Finance
  • Bajaj Finserv Ltd. 5.33%
  • Repco Home Finance Ltd. 4.12%
  • Max India Ltd. 3.25%
  • Sundaram Finance Ltd. 3.19%
  • Muthoot Finance Ltd. 2.51%
  • SKS Microfinance Ltd. 2.03%
  • IDFC Ltd. 1.88%
  • Reliance Capital Ltd. 1.64%
25.69%
Short Term Debt & Net Current Assets 4.22%

Risk measures

Sharpe ratio 0.84
Alpha  
Portfolio beta 0.86
Std deviation 23.92% (annual)
 

Performance

AUM Rs. 841.73 crores (As of June 30, 2015)
NAV (As of June 30, 2015)
  • Regular Plan Growth Option: Rs. 37.09
  • Regular Plan Dividend Option: Rs. 28.23
  • Direct Plan Growth Option: Rs. 37.85
  • Direct Plan Dividend Option: Rs. 36.14
Expense ratio
  • ICICI Prudential Banking and Financial Services Fund Direct Plan - 0.95
  • ICICI Prudential Banking and Financial Services Fund Regular Plan
    • First 100 crores of daily net assets - 2.5%
    • Next 300 crores of daily net assets - 2.25%
    • Next 300 crores of daily net assets - 2%
    • Balance daily net assets - 1.75%
    • Additional charge of a maximum of 30 bps on sales outside top 15 cities
 

Returns

   2014-2015 (Absolute Returns) 2013-2014 (Absolute Returns) 2012-2013 (Absolute Returns) Compound Annual Growth Rate (Since Inception)
Scheme 20.42% 46.67% 19.39% 21.06%
NIFTY 9.95% 30.28% 10.67% 10.09%
NAV (in Rs.) 30.8 21 17.59 -
 

If someone had invested an amount of Rs. 10,000 when this fund was first introduced, the value of that investment today would be Rs. 37,090 as per the schemes performance. Had the same amount been invested directly then its value according to Nifty would have been 19,338.18 and 31,524 according to the benchmark.

Expert view of the fund

This is a fund that offers a high risk investment opportunity to investors. It also is meant for those who are looking to create wealth and are ok with the risk factor. In terms of returns, the fund has outperformed Nifty consistently between 2013 and 2015. It has even outperformed its benchmark in the same period, especially in 2013-14, where it gave absolute returns of 46% against the returns of the benchmark of 32%.

How to apply

There are two ways in which investors can apply for this fund. The first is to apply for it online. To do that, they can visit the ICICI Prudential website where they will have to register as new or existing investors. Once they have completed the registration process, they will be able to invest in this fund.

The other method is to apply for this fund offline where the investors can approach the ICICI Prudential branches and get help with filling out the forms and fulfilling any other paperwork as required. They can also pay for the investments through debit cards, cheques, demand drafts or NEFT and RTGS transfers. The investments made in this fund can either be lump sums or SIPs.

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