July 11, 2022
mayank
ICICI Prudential Nifty Bank Index Fund Guidance
NAV Growth : Rs 9.9412
NAV IDCW : Rs 9.9411
Suitable For Which Investors ?
This is a fund that invests mainly in shares of banks and financial services companies.
We believe that investors should avoid funds that have a narrowly defined investment mandate such as this one. Instead, they should invest in flexi-cap funds which provide complete freedom to the fund management team to invest in companies from which it expects maximum gains.
But if you do invest, you must do so only through the SIP route.
Fund’s Investment Strategy :
The scheme seeks to invest in companies whose securities are included in Nifty Bank Index and subject to tracking errors, to endeavor to achieve the returns of the above index. This would be done by investing in all the stocks comprising the Nifty Bank Index in the same weightage that they represent in Nifty Bank Index.
Fund Manager :
— Kayzad Eghlim
Education : Mr. Eghlim is a B.Com (H) and M Com.
Experience : Prior to joining ICICI Prudential AMC he has worked with IDFC Investment Advisors Ltd., Prime Securities and Canara Robeco Mutual Fund.
— Nishit Patel
Education : Mr. Patel is a B.Com & Chartered Accountant
Experience : ICICI Prudential Asset Management Company Limited – ETF Business – November 2018 – January 2020.
Investment Details
| Min. Investment (Rs) | 1,000 |
| Min. Addl Investment (Rs) | 1,000 |
| Min. SIP Investment (Rs) | 100 |
| Min. No of Cheques | 6 |
| Min. Withdrawal (Rs) | — |
| Min. Balance (Rs) | — |
| Lock-in Period | Not Applicable |
| Exit Load | 0 |
Basic Details
| Fund House: | ICICI Prudential Mutual Fund |
| Launch Date: | 02-Mar-22 |
| Return Since Launch: | -0.59% |
| Benchmark: | NIFTY Bank TRI |
| Riskometer: | Very High |
| Type: | Open-ended |
| Assets: | Rs 62 Cr |
| (As on 30-Jun-2022) | |
| Expense: | 0.20% |
| (As on 31-May-2022) | |
| Risk Grade: | — |
| Return Grade: | — |
| Turnover: | 10.00% |
ICICI Prudential Nifty Bank Index 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 Nifty Bank Index Fund Direct-G | — | 0.58 | 4.75 | 0.56 | -6.57 | — | — | — | — | — | — |
| S&P BSE Bankex TRI | — | 0.66 | 4.73 | 0.41 | -6.1 | — | — | — | — | — | — |
| Equity: Sectoral-Banking | — | 0.55 | 4.49 | 0.88 | -7.31 | — | — | — | — | — | — |
| Rank within category | — | 7 | 2 | 14 | 7 | — | — | — | — | — | — |
| Number of funds in category | 16 | 18 | 18 | 18 | 18 | 16 | 15 | 12 | 11 | 10 | 0 |
ICICI Prudential Nifty Bank Index Fund Guidance Peer Comparison
| Fund name | Rating | Launch Date | 1-Year Return | 3-Year Return | 5-Year Return | Expense Ratio | Assets (Cr) |
| ICICI Prudential Nifty Bank Index Fund | Unrated | Mar-22 | — | — | — | 0.20% | 62 |
| SBI Banking & Financial Services Fund | 5 star | Feb-15 | -2.28 | 8.77 | 11.94 | 0.80% | 3,129 |
| Tata Banking and Financial Services Fund | 4 star | Dec-15 | -4.16 | 7.73 | 9.12 | 0.68% | 933 |
| Sundaram Financial Services Opportunities Fund | 4 star | Jan-13 | -0.97 | 9.41 | 9.24 | 1.18% | 513 |
| ICICI Prudential Banking and Financial Services Fund | 3 star | Jan-13 | -2.73 | 6.33 | 7.66 | 1.13% | 4,745 |
Portfolio Analysis
| Number of Stocks | 12 |
| Top 10 Stocks (%) | 98.14 |
| Top 5 Stocks (%) | 85.28 |
| Top 3 Sectors (%) | 99.93 |
| Portfolio P/B Ratio | 1.95 |
| Portfolio P/E Ratio | 16.74 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 3,22,837 | 2,39,678 |
| Giant (%) | 85.34 | 73.33 |
| Large (%) | 6.8 | 10.9 |
| Mid (%) | 7.86 | 13.5 |
| Small (%) | — | 4.4 |
| Tiny (%) | — | — |
ICICI Prudential Nifty Bank Index Fund Guidance by Chanakya :
Do not invest in this, or any other banking sector fund, if you need to redeem your investment in less than seven years.
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