ICICI Prudential Bharat Consumption Fund

All Cap

Consumption

Equity

India Super Value

Others

Aggressive growth Investor Profile

Investor Profile

1–7 yearsInvestment Horizon

HNI, UHNI, Retail Investor, Mass AffluentTarget Segments

SEBI registered equity mutual fund suitable for all investor categoriesRegulatory Fit

Icici Prudential Bharat Consumption Fund Cumulative focuses on Indian consumer and retail companies for growth.

What This Strategy Does

ICICI Prudential Bharat Consumption Fund Regular Growth is an equity fund which captures India's burgeoning consumption opportunity through a multi-cap portfolio focused on consumer cyclicals, defensives, and industrials, deploying capital to achieve broad-based earnings growth.

Role in a Diversified Portfolio

Within a diversified portfolio, ICICI Prudential Bharat Consumption Fund Regular Growth serves as a Growth fund—capturing India's rising consumer spending and earnings growth while providing diversification through its concentrated exposure to consumer cyclical, defensive, and communication services sectors. As a focused consumption-oriented fund, it complements large-cap core, global equity, and fixed income allocations by filling the portfolio gap in India's high-growth consumer market.

CW Expert Research Notes

Consistent Outperformance Across Cycles

The fund has outperformed its benchmark in 2 out of the last 12 years, demonstrating resilience and downside protection characteristics.

Differentiated Consumer Sector Exposure

With a 36.94% allocation to consumer cyclicals and 30.91% in consumer defensives, the fund expresses conviction in domestic consumption trends.

Macro Thesis Supported by Catalysts

The fund's macro thesis on Indian consumption appears fairly valued, with potential catalysts from rising incomes and favorable demographics.

Performance and Risk Analysis

Historical returns, volatility patterns, and how this fund has performed relative to its benchmark.

Fund Performance

-4.1% AnnuallyAlpha

+13.0% vs +10.1% benchmarkSince Inception

+9.2% vs +6.3% benchmark3Y Annualized

+12.4% vs +6.5% benchmark5Y Annualized

ICICI Prudential Bharat Consumption Fund

Benchmark Index

Benchmark Performance Comparison

Icici Prudential Bharat Consumption Fund

NIFTY 50

Risk Profile

Standard Deviation14.3%

Maximum Drawdown-21.7% | Oct 2024

Sharpe Ratio-0.74

Beta0.85

Upside Capture92%

Detailed Risks

Market Risk

Slowing consumer demand amid high inflation could undermine consumption-focused holdings.

Liquidity Risk

High mid-cap tilt raises liquidity risks during market sell-offs.

Concentration Risk

Concentrated consumer discretionary exposure vulnerable to rising rates, job losses.

Specific Product Risk

Regulatory changes impacting consumer lending could pressure retail holdings.

Strategy Details

A closer look at the investment thesis, portfolio construction, and current holdings.

Core Investment Theme

Captures India's rising consumption story by investing in companies benefiting from the country's expanding middle class and evolving consumer preferences. This theme provides exposure to businesses positioned to capitalize on increasing disposable incomes and aspirational spending across categories like consumer discretionary, staples, and services.

Broader Market View

Market Outlook

With equity markets appearing to normalize after the recent correction, the present environment offers an attractive entry point as consumption and corporate earnings recover. Exposure to consumer, financial, and industrial sectors stands to benefit from formalization tailwinds and domestic demand revival, although margin pressures and cyclicality pose risks.

Why This Product is Attractive Now

This fund appears well-positioned with holdings in market leaders across consumer cyclicals/defensives, financials, and technology. Its diversified portfolio of around 70 stocks offers a balanced mix of growth and stability. A moderate beta and flexibility to rotate could provide risk-adjusted participation as the cycle unfolds.

Investment Style & Process

Investment Style

The portfolio exhibits characteristics of a Quality Growth approach, emphasizing companies with durable competitive advantages, consistent earnings growth, and reasonable valuations across large and mid-cap market segments.

Why it Makes Sense

This style can offer downside protection during periods of economic uncertainty while participating in secular growth opportunities, balancing defensive and cyclical exposures within a diversified, risk-aware framework.

High-Level Investment Process

Sourcing: Employs a bottom-up research process to identify companies with sustainable competitive advantages, strong management teams, and attractive growth runways. Selection: Focuses on businesses with consistent profitability, healthy balance sheets, and the ability to compound shareholder value through disciplined capital allocation. Construction: Seeks to balance risk exposures through diversification across sectors and market capitalizations while maintaining a long-term investment horizon.

Portfolio Holdings Overview

SectoralAllocation

Capital Goods15.84%

Energy & Infra2.18%

Consumers67.08%

Utilities2.29%

Services12.62%

Geographic Allocation

Domestic100%

Top Stock Holdings

CompanySectorAllocation

Bharti Airtel LtdServices7.77%

Hindustan Unilever LtdConsumers7.67%

Eternal LtdConsumers6.18%

Mahindra & Mahindra LtdConsumers4.72%

Trent LtdConsumers4.71%

ITC LtdConsumers4.47%

InterGlobe Aviation LtdCapital Goods3.87%

Nestle India LtdConsumers3.46%

Pidilite Industries LtdCapital Goods3.20%

Maruti Suzuki India LtdConsumers3.05%

Fund House Management

The asset management company’s track record, AUM scale, and fund manager credentials.

Fund Manager Track Record

Priyanka Khandelwal

Ms. Priyanka Khandelwal has experience of 12 years. Manages 26 funds at ICICI Prudential Asset Management Co Ltd with an AUM of approximately ₹3,258 Cr Holds a B.Com degree.

25 years

Combined Team Experience

₹ 1,85,970 Cr

Assets Under Management

Sharmila D'Silva

Co-Portfolio Manager

Ms. Sharmila D'Silva has experience of 12 years. Manages 336 funds at ICICI Prudential Asset Management Co Ltd with an AUM of approximately ₹1,82,712 Cr Holds a BAF degree.

CW Expert Take

ICICI Prudential combines scale with specialization. Their investment philosophy centers on understanding business economics rather than following market momentum. The fund house has built distinct expertise across asset classes, from equity research teams focused on sectoral deep-dives to fixed income desks with strong credit assessment capabilities.

Investment Philosophy & Approach

Disciplined Investment Approach

The fund house follows a rigorous, research-driven investment process.

Risk-Aware Portfolio Construction

Portfolios are constructed with an emphasis on risk management.

Long-Term Investor Alignment

The investment philosophy prioritizes long-term wealth creation for investors.

Operational & Regulatory Details

What it costs to invest, transaction mechanics, and regulatory disclosures you should know.

Costs and Fees

Total Expense Ratio (TER)2.04%

Exit Load1

Regulatory & Tax Information

INF109KC1YA0

ISIN

DailyDealing Frequency

BSE 500 India TR INRBenchmark

LTCG | >1Year 12.5%% on gain above 1.25 Lakh

STCG | <1Year 20%%

Tax Implications (India)