ICICI Prudential Value Fund

All Cap

Diversified

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 Value Discovery Fund Reinvestment Of Income Distribution Cum Cap Wdrl invests in undervalued Indian companies offering good long-t...

What This Strategy Does

ICICI Prudential Value IDCW-R is an equity value fund which captures India's ₹150 trillion market capitalization through a flexible, benchmark-agnostic investment approach, deploying capital across financials, IT, and energy to achieve broad-based earnings growth.

CW Expert Research Notes

Resilient Outcomes

The fund has demonstrated resilience across market cycles, outperforming its benchmark in 7 out of the last 12 years, delivering consistent earnings and downside protection.

Differentiated Construction

The fund's value-oriented approach, combined with a flexible investment style and a focus on identifying undervalued stocks with sustainable competitive advantages, results in a portfolio that is meaningfully differentiated from its benchmark and peers.

Valuation Opportunity

The fund's current positioning in attractively valued sectors like information technology, financial services, and energy, coupled with its ability to capitalize on potential catalysts such as improving credit growth and technology spending, presents an opportunity for value realization.

Performance and Risk Analysis

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

Fund Performance

-3.4% AnnuallyAlpha

+-0.1% vs +9.9% benchmarkSince Inception

+0.3% vs +6.3% benchmark3Y Annualized

+2.3% vs +6.5% benchmark5Y Annualized

ICICI Prudential Value Fund

Benchmark Index

Benchmark Performance Comparison

Icici Prudential Value Discovery Fund

NIFTY 50

Risk Profile

Standard Deviation14.7%

Maximum Drawdown-13.6% | Jan 2026

Sharpe Ratio-0.25

Beta0.78

Upside Capture92%

Detailed Risks

Market Risk

Prolonged economic slowdown in India could depress consumer demand, impacting value stocks.

Liquidity Risk

High mid-cap exposure could face liquidity stress during market sell-offs.

Concentration Risk

Significant overweight in financials sector exposes fund to regulatory risks.

Specific Strategy Risk

Value tilt underperforms if economic recovery fuels growth stock outperformance.

Strategy Details

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

Core Investment Theme

Delivers exposure to India's most fundamentally resilient businesses trading at attractive valuations. This value-focused approach seeks to identify companies with sustainable competitive advantages, strong financials, and the ability to compound earnings across market cycles. By investing in such quality franchises when they are temporarily out of favor, the impact is the potential for outsized returns as the market recognizes their intrinsic worth over time. Suitable for investors with the patience to withstand periods of underperformance while these quality compounders revert to fair value.

Broader Market View

Market Outlook

Equity markets appear to be entering a mid-cycle phase, with consumption and earnings recovering from pandemic lows. This normalization, coupled with a revival in capital expenditure and credit growth, presents an attractive entry point. However, risks such as margin pressures and cyclicality in sectors like consumer discretionary and industrials warrant a balanced approach.

Why This Strategy is Attractive Now

The strategy seems well-positioned to capitalize on the current environment, with exposure to consumer, financial services, and technology sectors that stand to benefit from the economic recovery. The portfolio's diversification across market leaders and approximately 70 holdings, coupled with a moderate risk profile, could provide a risk-adjusted return profile aligned with this market phase.

Investment Style & Process

Investment Style

The portfolio exhibits characteristics of a Quality Growth strategy, emphasizing companies with durable competitive advantages, consistent earnings growth, and reasonable valuations relative to their long-term potential.

Why it Makes Sense

In the current environment of moderating economic growth and elevated uncertainty, a Quality Growth approach can provide exposure to companies with resilient business models, pricing power, and the ability to compound earnings through cycles.

High-Level Investment Process

Sourcing: The strategy appears to focus on identifying companies with sustainable competitive advantages, strong management teams, and attractive growth runways across a range of sectors and market capitalizations. Selection: The process suggests a preference for businesses with consistent profitability, healthy balance sheets, and the ability to generate robust free cash flows to fund growth initiatives and shareholder returns. Construction: Portfolio construction is consistent with a diversified, conviction-weighted approach, balancing exposure to secular growth opportunities with more defensive, cash-generative businesses to manage overall risk.

Portfolio Holdings Overview

SectoralAllocation

Consumers17.89%

Capital Goods8.02%

Technology12.82%

Energy & Infra7.73%

Services13.67%

Financial Services36.29%

Utilities3.58%

Geographic Allocation

Domestic100%

Top Stock Holdings

CompanySectorAllocation

HDFC Bank LtdFinancial Services9.18%

ICICI Bank LtdFinancial Services8.44%

Infosys LtdTechnology5.98%

ITC LtdConsumers5.30%

TrepsUtilities5.28%

Reliance Industries LtdEnergy & Infra5.10%

Sun Pharmaceuticals Industries LtdServices4.70%

Tata Consultancy Services LtdTechnology3.96%

Hindustan Unilever LtdConsumers3.08%

Axis Bank LtdFinancial Services2.91%

Fund House Management

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

Fund Manager Track Record

Sankaran Naren

Mr. Sankaran Naren has experience of 34 years. Manages 61 funds at ICICI Prudential Asset Management Co Ltd with an AUM of approximately ₹1,20,781 Cr Holds a PGDM degree.

65 years

Combined Team Experience

₹ 5,74,029 Cr

Assets Under Management

Dharmesh Kakkad

Co-Portfolio Manager

Mr. Dharmesh Kakkad has experience of 16 years. Manages 44 funds at ICICI Prudential Asset Management Co Ltd with an AUM of approximately ₹1,49,755 Cr Holds a B.com degree.

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.

Masoomi Jhurmarvala

Co-Portfolio Manager

Ms. Masoomi Jhurmarvala has experience of 2 years. Manages 46 funds at ICICI Prudential Asset Management Co Ltd with an AUM of approximately ₹1,20,781 Cr

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

Value-Driven Approach

The fund employs a disciplined value investing philosophy to identify undervalued stocks.

Rigorous Research Process

Extensive fundamental research underpins stock selection using multiple valuation metrics.

Patient Capital Allocation

Managers demonstrate patience with high-conviction holdings in a long-term perspective.

Operational & Regulatory Details

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

Costs and Fees

Total Expense Ratio (TER)1.51%

Regulatory & Tax Information

INF109K01AD3

ISIN

DailyDealing Frequency

BSE 500 India TR INRBenchmark

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

STCG | <1Year 20%%

Tax Implications (India)