ICICI Prudential Multi-Asset Fund: Rs 10 lakh turns into Rs. 5.49 crore in 21 years!
ICICI Prudential Multi-Asset Fund has completed 21 years. The Scheme has an AUM of Rs. 24,060.99 crore which accounts for nearly 57% of the total AUM in the multi-asset allocation category, as per Value Research data as of September 30, 2023.
ICICI Prudential Multi-Asset Fund is an open-ended scheme investing in Equity, Debt and Exchange Traded Commodity Derivatives/units of Gold ETFs/units of REITs & InvITs/Preference shares. The investment strategy spreads its money throughout several asset classes and market capitalizations in an effort to produce returns over a longer period of time. It allocates at least 10% of its assets across three or more asset classes. To enhance portfolio yield the plan may invest in covered call options.
In a statement, ICICI Prudential AMC said a lump sum investment of Rs 10 lakh at the time of inception of this fund (October 31, 2002) would be worth approximately Rs. 5.49 crore as of September 30, 2023 with a CAGR of 21%.
A similar investment in the Scheme’s benchmark – Nifty 200 TRI (65%) + Nifty Composite Debt Index (25%) + Domestic Price of Gold (6%) + Domestic Price of Silver (1%) + iCOMDEX Composite Index (3%) – would have yielded approximately Rs 2.57 crore i.e. a CAGR of 16%, the AMC said.
Also Read: HDFC Top 100 Fund: Rs 10,000 SIP since inception turns into Rs 6.88 crore!
According to the AMC, a monthly of Rs 10,000 via SIP in this fund since its inception would amount to a total investment of Rs 25.2 lakh and it would have grown to Rs 2.1 crore as of September 30, 2023 i.e. a CAGR of 17.5%. A similar investment in the Scheme’s benchmark would have yielded a CAGR of 13.7%.
Speaking on the occasion of 21 years’ completion, Nimesh Shah, MD & CEO of ICICI Prudential AMC said, “The
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