ICICI Prudential Savings Fund (Growth)

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.

ICICI Prudential Savings  Fund-Growth Investment Objective

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 Savings  Fund-Growth Scheme Details

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.

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:

Asset Allocation of ICICI Prudential Savings  Fund-Growth

The ICICI Prudential Savings  Fund-Growth has invested in the following debt instruments:

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.

1. With a track record of 19 years, the fund has an extended history for analysis. Moreover, the track record is excellent.
2. With an AUM or relative size of Rs 20,235 cr, the fund is a category leader in size.
3. The scheme has performed well consistently over a period of time outperforming its benchmark.
4. 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
5. 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. 

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