ICICI Prudential Equity and Debt Fund turns 23

ICICI Prudential Equity and Debt Fund completed 23 years. As on October 31, 2022, the size of the scheme is Rs 21,109.35 crore. Continue reading to learn more about this fund.

Being incepted on November 3, 1999, ICICI Prudential Equity & Debt Fund turns 23. As on October 31, 2022, the AUM of the fund stood at Rs 21,109.35 crore and it is one of the largest in its category in terms of assets.

A lump sum investment of Rs 10 lakh at the time of inception would have approximately turned Rs 2.4 crore on October 31, 2022. A similar investment in the Nifty 50 Total Returns Index (TRI), which is also the fund’s additional benchmark, would have yielded approximately Rs 1.8 crore.

Talking about its SIP performance, a monthly investment of Rs 10,000 via SIP in this fund since its inception (total investment of Rs 27.6 lakh), would have grown to Rs 2.3 crore as of October 31, 2022.

ICICI Prudential Equity & Debt Fund is an open-ended aggressive hybrid scheme investing predominantly in equity and equity-related instruments. The scheme’s equity exposure ranges between 65 per cent to 80 per cent, maintaining the debt exposure between 20 per cent to 35 per cent.

This fund is collectively managed by Sankaran Naren, Mittul Kalawadia, Manish Banthia, Nikhil Kabra and Sri Sharma. Mr Naren has been managing this fund since December 2015 and he jointly manages around 15 schemes. Mr Kalawadia has been managing this fund since December 2020 and presently he manages about four schemes of which three are jointly managed.

Banthia is managing this fund since September 2013. As a debt fund manager, he jointly manages 24 schemes. Kabra is also managing this fund since December 2020 and currently, he jointly manages seven schemes. Sharma started managing this fund in April 2021. In total, she jointly manages 5 schemes.