₹1 lakh investment in this mutual fund has grown to over ₹46 lakh in 22 years

ICICI Prudential Value Fund has completed 22 years since its launch, with a ₹1 lakh lump-sum investment made at inception growing to approximately ₹46.6 lakh as of July 31, 2026, according to data shared by ICICI Prudential Asset Management Company.

The investment translates into a compound annual growth rate (CAGR) of 19.11% over the period. By comparison, a similar investment in the Nifty 50 Total Return Index (TRI) would have grown to around ₹20.1 lakh, delivering a CAGR of 14.63%.

The fund was launched on August 16, 2004, and follows a value-oriented equity investment strategy. It seeks to invest in companies that the fund manager considers to be trading below their intrinsic value, across market capitalisations and sectors.

How the fund has performed

Over the shorter three- and five-year periods, the fund delivered CAGRs of 13.44% and 16.05%, respectively, according to the fund house. The corresponding returns for its current benchmark, the Nifty 500 TRI, were 12.29% and 11.85%.

For investors using the systematic investment plan (SIP) route, a monthly investment of ₹10,000 since the fund’s inception would have involved a total investment of ₹26.4 lakh. This would have grown to approximately ₹2.37 crore by July 31, 2026, translating into a CAGR of 17.04%. The comparable CAGR for the Nifty 50 TRI was 12.30%.

The fund had an annualised standard deviation of 12.72% and a Sharpe ratio of 0.63, according to its factsheet. Its beta relative to the benchmark stood at 0.79.

Portfolio and assets

The fund had assets under management of ₹61,102.29 crore as of July 31, 2026, making it the largest actively managed value-oriented equity fund in the industry, according to data cited by the fund house from the Association of Mutual Funds in India.

Equity accounted for 93.31% of the scheme’s net assets. Financial Services was the largest sector exposure at 38.10%, followed by Healthcare at 9.08%, Fast Moving Consumer Goods at 9%, Information Technology at 7.84% and Automobiles and Auto Components at 7.53%.

The scheme is currently jointly managed by Sankaran Naren, Dharmesh Kakkad and Masoomi Jhurmarvala.

The fund house said its investment approach does not have a fixed market-cap bias and is based on where it finds value across the market. However, the portfolio currently has a large-cap tilt.

Benchmark change and what investors should note

The fund’s benchmark was changed from the Nifty 500 Value 50 TRI to the Nifty 500 TRI with effect from January 1, 2022. Since the scheme predates the launch of the current benchmark, comparable benchmark data for the entire period is not available.

For the since-inception comparison, the fund house has used the earlier Nifty 500 Value 50 TRI until December 31, 2021, and the Nifty 500 TRI thereafter.

The performance figures cited are for the Regular Plan and do not factor in loads. Different plans of the scheme can have different expense structures.

It is also important to note that past returns do not guarantee future performance. Equity mutual funds remain exposed to market volatility, and value-oriented strategies can underperform for extended periods when stocks or sectors considered undervalued do not rerate as expected.

The scheme’s name was changed to ICICI Prudential Value Fund from June 16, 2025. The scheme is classified as an open-ended equity scheme following a value investment strategy.

First Published: 

Aug 19, 2026 1:18 PM

IST

Note To Readers

This article is for informational purposes only and should not be construed as investment advice. Readers should consult certified experts before making any investment decisions.