December 30, 2025
RA Jainee
ICICI Prudential Multicap Fund
| Fund at a Glance | |
| NAV Growth (Rs.) | 896.38 |
| NAV Bonus (Rs.) | — |
| NAV IDCW (Rs.) | 59.92 |
| Min. Investment (Rs.) | 5,000 |
| Min. SIP Investment (Rs.) | 100 |
| Min. No of Cheques | 6 |
| Benchmark | Nifty 500 Multicap 50:25:25 TRI |
| AUM Rs. | 16,148 Cr |
| (As on 30-Nov-2025) | |
| Expense | 0.93% |
| 1 Year Return (%) | 5.50 |
| 3 Year Return (%) | 21.10 |
| 5 Year Return (%) | 20.99 |
| 10 Year Return (%) | 15.99 |
| Return Since Launch | 16.46% |
⚖️ Sahifund Review – ICICI Prudential Multicap Fund (✓)
✓ PLUS: Stability, diversification, long track record
The fund follows a true multi-cap mandate (50:25:25), ensuring disciplined allocation across large, mid and small caps. This structure helps investors participate across market cycles without style drift. Long operating history since 2013 and experienced fund management add confidence. 3-year and 5-year returns are healthy, comfortably ahead of many category averages. Broad portfolio with over 150 stocks reduces single-stock risk. SIP-friendly design suits long-term wealth creation.
⚖️ MINUS: Large AUM, higher churn, muted recent momentum
AUM of over Rs. 16,000 Cr can limit agility, especially in small-cap allocation. High portfolio turnover (~94%) may increase transaction costs and impact consistency. 1-year returns are modest, indicating recent momentum lag. Expense ratio at 0.93% is not the cheapest in the multi-cap space. Mandatory multi-cap allocation reduces flexibility compared to flexi-cap funds.
Sahifund Verdict:
A solid core multi-cap fund for disciplined SIP investors, but return-hunters may prefer more flexible or aggressive peers for higher alpha.
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| NFO Guidance |
What lies ahead? Below we decode returns consistency, portfolio concentration, peer positioning and risk profile in detail.
Suitable For Which Investors?
When you invest for five years or more, you can expect gains that comfortably beat the inflation rate as well as returns from fixed income options. But be prepared for ups and downs in your investment value along the way.
This fund is mandated to invest at least 25 per cent of its money each in stocks of large, medium and small-sized companies. Such funds can be fairly volatile since at least 50% of their assets will always be invested in mid and small cap stocks which generally experience more severe ups and downs. This makes them suitable for long-term investors who don’t mind higher risk, but we suggest you also consider flexi-cap funds which offer complete freedom to fund managers to choose companies of different sizes.
Like for all equity funds, you must invest only through the SIP route.
Fund’s Investment Strategy:
The scheme seeks to generate capital appreciation through investments in equity & equity related instrument across large cap, mid cap and small cap stocks of various industries.
Fund Manager:
1) Lalit Kumar
Education: Mr. Kumar is a PGDM (IIM) and B.Tech in Electrical Engineering (IIT).
Experience: Prior to joining ICICI Prudential Mutual Fund, he has worked with East Bridge Advisors Pvt. Ltd, Nomura Financial Advisory & Securities, Merrill Lynch and Cypress Semiconductors.
Investment Details
| Min. Investment (Rs) | 5,000 |
| Min. Addl Investment (Rs) | 1,000 |
| Min. SIP Investment (Rs) | 100 |
| Min. Withdrawal (Rs) | 1 |
| Min. No of Cheques | 6 |
| Min. Balance (Rs) | — |
| Lock-in Period | NA |
| Exit Load | 1% for redemption within 365 days |
Basic Details of ICICI Prudential Multicap Fund
| Fund House | ICICI Prudential Mutual Fund |
| Launch Date | 01-Jan-13 |
| Return Since Launch | 16.46% |
| Benchmark | Nifty 500 Multicap 50:25:25 TRI |
| Riskometer | Very High |
| Type | Open-ended |
| Assets | Rs 16,148 Cr |
| (As on 30-Nov-2025) | |
| Expense | 0.93% |
| (As on 30-Nov-2025) | |
| Risk Grade | Below Average |
| Return Grade | Average |
| Turnover | 94.00% |
Trailing Returns (%) of ICICI Prudential Multicap Fund
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| ICICI Pru Multicap Dir | 5.82 | -0.25 | -0.48 | 3.35 | 0.55 | 5.50 | 21.10 | 20.99 | 17.33 | 15.99 |
| VR Multicap TRI | 3.32 | -0.30 | -1.02 | 3.60 | 0.29 | 3.39 | 19.40 | — | — | — |
| Equity: Multi Cap | 2.95 | -0.35 | -1.38 | 3.10 | 0.85 | 2.98 | 20.64 | — | — | — |
| Rank within category | 9 | 9 | 4 | 20 | 22 | 10 | 8 | — | — | — |
| Number of funds in category | 34 | 37 | 37 | 37 | 36 | 34 | 16 | 0 | 0 | 0 |
Peer Comparison of ICICI Prudential Multicap Fund
| Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age | Turnover (%) | |
| ICICI Pru Multicap Dir | 4 star | 5.50 | 21.10 | 20.99 | 0.93 | 16,148 | 16.46 | 1.00 (365) | 12Y 11M | 94.00 |
| Nippon India Multi Cap Dir | 5 star | 4.48 | 23.17 | 26.29 | 0.71 | 50,048 | 16.59 | 1.00 (365) | 12Y 11M | 27.00 |
| Kotak Multicap Dir | 4 star | 6.89 | 25.59 | — | 0.45 | 22,281 | 19.49 | 1.00 (365) | 4Y 3M | 40.48 |
| HDFC Multi Cap Dir | 4 star | 2.94 | 21.93 | — | 0.74 | 19,911 | 18.80 | 1.00 (365) | 4Y | 27.30 |
| Axis Multicap Dir | 4 star | 2.54 | 24.14 | — | 0.73 | 9,243 | 17.29 | 1.00 (365) | 4Y | 43.00 |
Portfolio Analysis of ICICI Prudential Multicap Fund
| No. of Stocks | 151 |
| Top 10 Stocks | 25.56% |
| Top 5 Stocks | 15.56% |
| Top 3 Sectors | 61.17% |
| Portfolio P/B Ratio | 3.75 |
| Portfolio P/E Ratio | 33.65 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 73,787 | 97,045 |
| Giant (%) | 31.64 | 35.17 |
| Large (%) | 16.43 | 19.33 |
| Mid (%) | 40.41 | 34.72 |
| Small (%) | 11.47 | 10.78 |
| Tiny (%) | 0.05 | 0.11 |
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
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