ICICI Prudential Savings Fund (Growth) is recommended for investment within low duration mutual funds.
Low duration funds provides relative safety of capital with growth at par with inflation and is suitable for investment objectives with duration of 1-5 years or longer.
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Scheme Information
Investment Objective
To generate income through investments in a range of debt and money market instruments while maintaining the optimum balance of yield,safety and liquidity. However,there can be no assurance or guarantee that the investment objective of the Scheme would be achieved.
Disclaimer: Products compared like fixed deposits may provide fixed guaranteed returns. Mutual Funds investments are subject to market risk, read all scheme related documents carefully before investing. Past performance is not an indicator of future returns.
ICICI Prudential Asset Management Company Limited manages assets worth 436,490 crores and was set up on 22 June 1993. It's current offering of mutual fund schemes includes 110 equity,526 debt and 64 hybrid funds.
We use a proprietary system to rate mutual funds and based on that make a recommendation or rate the fund as top ranked.
What Scripbox recommendations mean?
Recommended
Scripbox algorithm recommends 2-4 funds for investment for an investment asset class such as large cap, diversified, liquid etc. When you invest for an objective, the algorithm suggests the appropriate asset class and funds.
Top Ranked
Neutral
Not Recommended
Track Record
We look at consistent and long historical performance for our analysis.
Fund Size
We look at the size of the fund with respect to other funds in the category. Larger funds are preferred.
Sub-asset Class View
We check if the sub-category of the fund is recommended by us.
Fund Performance
Consistency of performance over various tenures is analysed for a relative performance stack.
Track Record
We look at consistent and long historical performance for our analysis.
Fund Size
We look at the size of the fund with respect to other funds in the category. Larger funds are preferred.
Impact of Interest Rates
We check the relative interest rate risk of the sub-category of the fund. Lower the better.
Credit Attractiveness
We check the credit quality of the underlying instruments present in the fund. Higher the better.
Equity Funds
Debt Funds
ICICI Prudential Savings Fund-Growth is a low-duration debt mutual fund scheme provided by ICICI Prudential Mutual Fund. It predominantly invests in debt instruments. The scheme aims to achieve return on investment at par with inflation through a lower interest rate risk. Earlier, the fund was known as ICICI Pru Flexible Income Growth. It aims to outperform the benchmark with risk lower than the benchmark. The fund is managed by ICICI Prudential Asset Management Company Limited. The fund managers of the scheme are Mr. Rahul Goswami, and Mr. Rohan Maru.
The investment objective of the Scheme is to generate income through investments in a range of debt and money market instruments while maintaining the optimum balance of yield,safety and liquidity. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved. The fund invests around 84% of its assets in debt instruments. Within this debt investment its investment in government securities is 43% while it invests the remaining 41% in low-risk debt instruments.
ICICI Prudential Mutual Fund had launched the scheme on 27th September 2002. The scheme has been in existence for the past 19 years. Since inception it continues to provide consistent growth of investment at par with inflation over the investment duration.
NAV and Returns – As of 18th June 2021, the NAV of the fund is Rs 420.95. The risk-o-meter of the fund is moderate risk. Hence, the investor must recognize that their principal investment is at a moderate risk with the fund. Since its inception the fund has delivered a return of 8% on investment.
Minimum Investment – The fund has a minimum SIP investment requirement of Rs 1000 and a minimum lump sum investment of Rs 5000
Expense Ratio and Exit Load – The expense ratio for the fund is 0.53%. The expense ratio charged by the fund is close to the expense ratio charged by other AMCs for funds under the same category. The fund does not charge exit load on the redemption of the units of the fund.
Fund Manager – Currently, the fund is being managed by Mr. Rahul Goswami, and Mr. Rohan Maru. Mr. Rahul Goswami has been co-managing the fund since 17th September 2012. Mr. Goswami has an experience of over 24 years. He manages 9 funds provided by ICICI Prudential Mutual Fund. Since 16th September 2003 Mr. Rohan Maru has been managing the fund. He possesses over 11 years of experience in fund management and manages 7 mutual funds.
Other Details – No lock-in period for the scheme, you can redeem any amount of investment anytime. The AUM of ICICI Prudential Savings Fund as on 18th June 2021 is Rs 20,235 cr. The fund benchmarks to NIFTY Low Duration Debt Index TR INR.
1 Year Return
6.20 %
3 Years Return
7.70 %
5 Years Return
7.60 %
10 Years Return
8.50 %
Returns Updated as of 18th June 2021
ICICI Prudential Savings Fund-Growth Top Stock Holdings
The ICICI Prudential Savings Fund-Growth has invested its assets majorly in the debt instruments of the following companies:
Company
Percentage of Holding (As on 18th June 2021)
Government Securities
16%
TREPS
14.70%
GOI Floating Rate Bond 2024
6.10%
5.09% Govt Security 2022
4%
State Bank of India
3.20%
Asset Allocation of ICICI Prudential Savings Fund-Growth
The ICICI Prudential Savings Fund-Growth has invested in the following debt instruments:
Sector
Percentage of Holding (As on 18th June 2021)
GOI Securities Floating Rate Bond
16.02%
GOI Securities
15.65%
Repo
14.73$
Cash Margin
13.23%
Non- Convertible Debenture
11.17%
Commercial Paper
8.94%
Treasury Bills
6.51%
Additional Tier 1 Bond
6.32%
ICICI Prudential Savings Fund-Growth Review
Scripbox recommends ICICI Prudential Savings Fund-Growth for investment within low duration mutual funds. Low duration funds provide return on investment at par with inflation over the investment duration. These funds are suitable for investors who seek an investment for 1-5 years or longer.
With a track record of 19 years, the fund has an extended history for analysis. Moreover, the track record is excellent.
With an AUM or relative size of Rs 20,235 cr, the fund is a category leader in size.
The scheme has performed well consistently over a period of time outperforming its benchmark.
The impact on fund value is moderate when interest rates change. In a way, the scheme has proven to be dependable under the ultra-short duration funds category
The fund has a high credit quality compared to other debt funds in the same category. This indicates that it has lent to borrowers whose credit quality is good. With better borrowers, it ensures a low default risk or credit risk.
How Scripbox Algorithmically Selects Mutual Funds?
Scripbox uses time-tested principles, historical data, and valid assumptions about asset classes. We combine them with a rigorous process to finalize which asset classes make the most sense for specific types of objectives, considering the time needed to achieve them.
Once we select an asset class, our algorithm goes to work to select the best financial products.
The algorithm scores financial products on multiple parameters, giving relevant weights to each of the listed parameters, such as:
Track record of the product – how long has it been around?
Assets under management – how big is it – for example, the size of a mutual fund
Liquidity – how easy is it to move in or out of the product?
Consistency of performance – how much have the returns fluctuated?
The risk associated with the product – what risks impact the product?
Quality of underlying assets – we assess how risky the underlying assets are – for example, by considering bond ratings in the case of debt funds
With such a scientific and detailed approach Scripbox ensures:
