July 8, 2022
mayank
ICICI Prudential Floating Interest Fund Guidance
NAV Growth : Rs 359.8727
NAV IDCW Weekly : Rs 101.5802
Suitable For Which Investors ?
“This is a fund that invests mainly in bonds whose rate of interest keeps changing with the prevailing interest rates in the economy. Given their investment mandate, such funds are usually less volatile in response to changing interest rates.
They can be a viable option for the fixed-income allocation in your portfolio. However, we believe that retail investors can avoid these funds altogether. There are far too many kinds of debt funds with a highly nuanced classification based on the type or duration of bonds they can invest in. We believe that so many fund categories add to complexity which is easily avoidable. Retail investors can simply invest in Liquid funds for an investment horizon of up to one year and Short Duration funds for the fixed income allocation (which should be 100 per cent for an investment horizon of up to three years) in their longer-term portfolios.
If you do decide to invest in them, remember that they are meant to deliver steady, but low to moderate returns and are not suitable to build wealth in the long run.”
Fund’s Investment Strategy :
The scheme seeks to generate income through investing predominantly in floating rate instruments while maintaining the optimum balance of yield, safety and liquidity.
Fund Manager :
— Nikhil Kabra
Education : Mr. Kabra is a B.Com and Chartered Accountant.
Experience : Prior to joining ICICI Prudential AMC from September 25, 2013 he was associated with Sumedha Fiscal Services Limited from October 2012 to September 2013 and Haribhakti & Co. from September 2010 to October 2012.
— Rahul Goswami
Education : Mr. Goswami is a B. Sc (Mathematics and MBA (Finance)
Experience : Prior to joining ICICI Prudential AMC he has worked with UTI Bank Ltd. and Franklin Templeton Asset Management Pvt. Ltd.
Investment Details
| Min. Investment (Rs) | 500 |
| Min. Addl Investment (Rs) | 100 |
| Min. SIP Investment (Rs) | 100 |
| Min. No of Cheques | 6 |
| Min. Withdrawal (Rs) | 1 |
| Min. Balance (Rs) | — |
| Lock-in Period | Not Applicable |
| Exit Load | 0 |
Basic Details
| Fund House: | ICICI Prudential Mutual Fund |
| Launch Date: | 01-Jan-13 |
| Return Since Launch: | 8.16% |
| Benchmark: | CRISIL Low Duration Debt |
| Riskometer: | Low to Moderate |
| Type: | Open-ended |
| Assets: | Rs 12,399 Cr |
| (As on 30-Jun-2022) | |
| Expense: | 0.61% |
| (As on 31-May-2022) | |
| Risk Grade: | — |
| Return Grade: | — |
ICICI Prudential Floating Interest Fund Guidance Trailing Returns (%)
| YTD | 1-Day | 1-W | 1-M | 3-M | 6-M | 1-Y | 3-Y | 5-Y | 7-Y | 10-Y | |
| ICICI Pru Floating Interest Direct-G | 0.42 | -0.03 | 0.06 | 0.01 | -0.23 | 0.48 | 2.61 | 6.54 | 6.94 | 7.63 | — |
| CCIL T Bill Liquidity Weight | 0.95 | 0.01 | 0.08 | 0.28 | 0.38 | 0.88 | 1.99 | 2.66 | 3.3 | 3.67 | — |
| Debt: Floater | 1.44 | -0.01 | 0.25 | 0.58 | 0.39 | 1.44 | 3.51 | 6.33 | 6.76 | 7.26 | — |
| Rank within category | 12 | 9 | 12 | 12 | 12 | 12 | 10 | 3 | 2 | 1 | — |
| Number of funds in category | 12 | 12 | 12 | 12 | 12 | 12 | 10 | 7 | 5 | 5 | 0 |
ICICI Prudential Floating Interest Fund Guidance Peer Comparison
| Fund name | Rating | Launch Date | 1-Year Return | 3-Year Return | 5-Year Return | Expense Ratio | Assets (Cr) |
| ICICI Prudential Floating Interest Fund | Unrated | Jan-13 | 2.61 | 6.54 | 6.94 | 0.61% | 12,399 |
| HDFC Floating Rate Debt Fund | Unrated | Jan-13 | 3.47 | 6.4 | 6.83 | 0.26% | 16,399 |
| Aditya Birla Sun Life Floating Rate Fund | Unrated | Jan-13 | 4.04 | 6.27 | 6.88 | 0.22% | 13,363 |
| Nippon India Floating Rate Fund | Unrated | Jan-13 | 3.64 | 7.12 | 7.06 | 0.28% | 13,099 |
| Kotak Floating Rate Fund | Unrated | May-19 | 3.71 | 6.62 | — | 0.22% | 6,020 |
Portfolio Breakup
| Fund | 1Y High | 1Y Low | Category | |
| Number of Securities | 69 | 97 | 62 | 69 |
| Modified Duration (yrs) | 0.87 | 1.59 | 0.87 | — |
| Average Maturity (yrs) | 7.61 | 8.04 | 6.44 | — |
| Yield to Maturity (%) | 6.13 | 6.13 | 5.08 | — |
| Avg Credit Rating | AAA | — | — | — |
ICICI Prudential Floating Interest Fund Guidance by Chanakya :
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