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ICICI Prudential Value Discovery Fund

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  • Review Date: June 18, 2017
  • Has healthy AUM of 17,304 crore (As on May 31, 2017)
  • Having huge AUM helped reduce expense ratio. 0.88% (As on May 31, 2017) for Direct plan
  • Distributors might be minting good money. Expense ratio for Regular plan is 2.12% (As on May 31, 2017). Compare the difference in expense ratio between Regular and Direct plans.
  • Launch Date (of DIRECT Plan) is Jan 01, 2013; Return since Launch: 21.50% which is still fair
  • Performance of the scheme is lagging
    • YTD: Scheme gave 12.65% vs Category average of 20.82%
    • 1-year: Scheme gave 16.41% vs Category average of 25.60%
    • 3-year: Scheme gave 16.46% vs Category average of 15.69%
  • Scheme returns and rankings fell drastically during the 3-year review period (only 3-year period available for Direct plans)
  • Scheme has higher exposure to Giant companies and less exposure towards Mid and Smallcap companies compared to that of the benchmark and category average
  • Giant + Large caps allocation of scheme is 68.22% + 13.33 = 81.55% makes it appear to be a largecap scheme than a multicap scheme
  • Clearly scheme is giving more important to safety of investment over returns.

Alternative Multicap Schemes to consider

  • Birla Sunlife Equity Fund
  • Birla Sunlife Advantage Fund
  • Kotak Opportunities Fund
  • Kotak Select Focus Fund
  • Invesco India Contra Fund
  • Franklin India High Growth Companies Fund
  • Motilal Oswal MOSt Focused Multicap 35 Fund

Note: Study your mutual fund portfolio market caps, your financial goals and exposure to other schemes offered by the same mutual before moving out

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