This is an open-ended diversified equity fund
Investment objective
The object of this fund is to take advantage of market volatility by investing aggressively in equity and at the same time maintain the ability to invest in debt or money markets in case the equity market becomes overvalued.
Fund information
| Inception date | 31 October 2002 |
| CRISIL rank | 4 |
| Plans | Regular and Direct |
| Options | Growth and Dividend |
| Schemes (list names only) | •ICICI Prudential Dynamic Direct Plan - Dividend •ICICI Prudential Dynamic Direct Plan - Growth •ICICI Prudential Dynamic Regular Plan - Dividend •ICICI Prudential Dynamic Regular Plan - Growth •ICICI Prudential Dynamic Plan - Institutional Option - I •ICICI Prudential Dynamic Plan Institutional Growth |
| Entry load | Nil |
| Exit load | 1% of the NAV if withdrawal is taken within 12 months of allotment |
| Minimum investment | •Rs. 5,000 for new customers •Rs. 1,000 for additional investment •All investments can be incremented in multiples of Re. 1. |
| SIP | •For monthly SIP Rs. 1,000 •For quarterly SIP Rs. 5,000 |
| Product label – Risk and target investors | •This fund has a risk rating of Moderately High •The ideal investor for this fund is someone looking to create wealth over a long term. |
| Benchmark | CNX NIFTY Index. The CNX NIFTY Index is also known as Nifty or Nifty 50. It encompases 22 sectors and also include thing like exchange traded funds and exchange traded futures and options. |
| SWP | Yes. An SWP cannot be for an amount less than Rs. 500 per month or quarter. |
| STP | Available |
| Redemption | THe minimum amount that can be redeemed is Rs. 500 and thereafter in multiples of Re. 1 |
| Taxation (on investment and on redemption) |
Fund manager(s)
Sankaran Naren
- Education: B (Tech) from IIT MADRAS and PGDM from IIM CALCUTTA
- Past experience:
- Chief Investment Officer Equity, ICICI Prudential AMC Ltd. - February 2008
- Co-Head of Equities, ICICI Prudential AMC Ltd.
- Head of Research, Refco Sify Securities India Pvt. Ltd.
- Director & COO, HDFC Securities Ltd.
- Vice President, HDFC Securities Ltd
- Other funds managed
- ICICI Prudential Dynamic Plan
- ICICI Prudential Top 100 Fund
- ICICI Prudential Value Fund – Series 1
- ICICI Prudential Value Fund – Series 2
- ICICI Prudential Value Fund – Series 3
- ICICI Prudential Equity Income Fund
Mittul Kalawadia
- Education: B.COM, M.COM and CA
- Past experience:
- Research Analyst (Senior Manager), ICICI Prudential AMC Ltd.
- Research Analyst (Manager), ICICI Prudential AMC Ltd.
- Manager, ICICI Prudential AMC Ltd. Finance
- Assistant Manager, ICICI Prudential AMC Ltd.
- Other funds managed
- ICICI Prudential Dynamic Plan
- ICICI Prudential Top 100 Fund
- ICICI Prudential Value Fund – Series 1
Investment philosophy or strategy
The investment philosophy of this fund is to go in for a “Bottom-up” approach and leverage market analysis to pick investments on a diversified basis. The philosophy also gives the fund managers the freedom to either be aggressive or defensive based on the market situation.
Portfolio – Top 10 holdings
| Sector | Investment |
| Banks | 14.87% |
| Software | 13.57% |
| Power | 10.56% |
| Government Securities | 11.47 |
| Auto | 7.71% |
| Long terms | 6.59% |
| CPs and CDs | 6.26% |
| Non - Ferrous Metals | 5.69% |
| Finance | 5.56% |
| Short terms | 4.88% |
Risk measures
| Sharpe ratio | 0.95 |
| alpha | |
| Portfolio beta | 0.79 |
| Std deviation | 12.13% |
Performance
| AUM | Rs. 5854.3 crores (As of June 30, 2015) |
| NAV | NAV for various schemes as of June 30, 2015
•Regular Plan Growth Option : Rs. 182.8331 •Regular Plan Dividend Option : Rs. 22.3980 •Direct Plan Growth Option : Rs. 186.1522 •Direct Plan Dividend Option : Rs. 22.8364 |
| Expense ratio | Expense ratio for all schemes ICICI Prudential Dynamic Plan - Institutional Option - I: 0.93 ICICI Prudential Dynamic Plan Institutional Growth: 0.93 ICICI Prudential Dynamic Plan Regular First 100 crores - 2.5% Next 300 crores - 2.25% Next 300 crores - 2% Balance 1.75% |
Returns
| 2014-2015 | 2013-2014 | 2012-2013 | Since inception (value of Rs. 10,000 today) | |
| Scheme | 8.14 | 54.48 | 4.01 | 182833.10 |
| NIFTY | 9.95 | 30.28 | 10.67 | 87959.85 |
| NAV (in Rs.) | 169.07 | 109.45 | 105.23 | Assume NAV of Rs. 10 |
Expert view of the fund
The ICICI Prudential Dynamic Plan has a performance of below average. It offers a risk profile of moderately high risk but offers the advantage of having the flexibility to take advantage of the markets even when they are volatile. This fund is ideal for those who are looking to create wealth over a long period of time. Even though it is an equity fund, it can if necessary, invest in the debt market to guard against overvalued markets. It also allows fund managers the freedom to adjust the strategy to switch to cash if they feel that the markets are overvalued which helps limit losses resulting from markets moving against the fund.
How to apply
To apply for this mutual fund customers can either approach a distributor or apply through the website itself. The offline method, visiting the branch or a distributor, will provide the opportunity to talk to someone before investing while the online option makes for a quick and convenient investment option.
To apply online, through the website investors can visit the quick invest section of the site. THere they will be presented with two options, one for existing investors and the other for new investors. Existing investors can just put in their current portfolio number and invest in any plan of their choosing. THey can also make payments towards these plans via debit cards or net banking. NEFT and RTGS transfers can also be done through this site.
Applying for this fund offline would include either visiting the ICICI Prudential office or speaking to one of their AMFI distributors. The distributors will help investors fill up the appropriate forms and make a choice of the fund that they can invest in. They will also help complete the KYC requirements, which might not be necessary for existing investor. In case the investor has any question about applying for any of these funds they can get in touch with ICICI Prudential for any and all clarifications.
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