ICICI Prudential Bluechip Fund

Fund of the Month: Fund of the Month: ICICI Prudential Bluechip Fund

Fund Manager: Anish Tawakley, Sharmila D mello, Vaibhav Dusad

SEBI Categorisation: Large Cap Fund

Type & Investment Objective :The fund aims to achieve long term capital appreciation by investing in a diversified portfolio predominantly consisting of equity and equity related securities of large cap companies. The fund is a large cap equity fund that invests minimum 80% in large caps and can take upto 20% exposure in mid cap stocks. The fund manager maintains a portfolio of large cap stocks with bottom up investment approach and invests in quality companies which have high growth potential.

• AMC continue to remain selectively positive in global space. With major developed economies facing stagflation and financial sector instability, AMC believes China and Japan may do well. AMC is cautious on US, however, keeping aside the near-term hazy picture, long term prospects look good given the fact that US is a leader when it comes to tech innovations, skilled labor, strong position in pharma space, innovation across multiple sectors.
• As on 31st March 2025, Nifty 50 was trading at 21.53x, FY25E price to earnings at 18.88x, FY26E price to earnings at 18.03x. Ongoing rally in equity markets has pushed country's market cap to GDP to 136% v/s historical average of 95%. Valuations of Large-cap stocks look relatively cheaper leaving more headroom for margin of safety.
• AMC continues to believe in India’s long-term structural story despite global uncertainties. The Union Budget 2025-26 has reaffirmed AMC view as it focuses on consumption revival, fiscal prudence, export promotion, tax rationalization and boosting domestic manufacturing. believe the rejig in income tax slabs should help the middle class with additional disposable income. AMC believes the rejig in income tax slabs should help the middle class with additional disposable income. (Estimates are as per the AMC)

Sectoral Overweights

• Auto: Consistent demand, Positive Catalysts, New Model Launches.
• Industrials: Increased capex focus for boosting manufacturing in India and China plus one theme playing out well.
• Telecom: Capex overshoots are more likely for 5G Capex Monetization, rising mobile data subscribers in India provide for faster 5G penetration.

Sectoral Underweights

• Consumer Non-Durables: - Muted demand, margin pressure, Price hike. 
• Software: - Digital transition to take time, Macro uncertainties & rising interest rates have impacted client sentiments on tech spending, Weakness in global manufacturing and BFSI sector continues to dampen demand.

Sectoral Attribution – Fund Vs Benchmark – 1 Year Performance

• The top outperformers in this scheme for the last one year have been Telecom, Cement, Auto, Industrial products and capital goods, while the underperformers for the fund have been Software, metals and mining, Consumer non-durables.
  
  
  This fund is recommended for investors with an investment horizon of 2-3 years, in line with investors’ individual risk profile and product suitability.
  

Top Holdings                                                                                                                                                                                       (As 31 March 2025)

Returns (%) 
                                                                                                                                                                           ( As on 30 April 2025 )

Absolute for <= 1 year and compounded annualized for > 1 year

Scheme Features

• Options: Growth and Income Distribution cum capital withdrawal (IDCW)
• Minimum Investment amount: Rs. 100
• Load Structure Exit Load: "If redeemed bet. 0 Year to 1 Year; Exit Load is 1%;
• Benchmark Index: Nifty 100 TRI
• Mar 2025 [Fund Size in Crs] 64,962.52
• NAV: 52 Week High / Low: Rs. 113.98 / 94.68

Product Label

This product is suitable for investors who are seeking^: Capital appreciation over long term. Investment in a diversified portfolio predominantly consisting of equity and equity related instruments of large cap companies. ​​​​​​​ *Investors should consult their financial advisers if in doubt

Source for entire data stated above is ICRA Analytics Ltd. (For Disclaimer of ICRA Analytics Ltd, refer https://icraanalytics.com/home/disclaimer)

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