ICICI Prudential Nifty Bank Index Fund Direct Growth
Equity
Direct
Index Funds
NAV as on 13-01-2025
₹ 13.73
1D
Inception Returns
12.3%
/yr
About ICICI Prudential Nifty Bank Index Fund Direct Growth
ICICI Prudential Nifty Bank Index Fund Direct Growth is an equity fund. This fund was started on 2 March, 2022. The fund is managed by Nishit Patel. The fund could potentially beat inflation in the long-run.
Key Parameters
- ICICI Prudential Nifty Bank Index Fund Direct Growth has ₹515 Cr worth of assets under management (AUM) as on Nov 2024 and is less than category average.
- The fund has an expense ratio 0.2.
Returns
ICICI Prudential Nifty Bank Index Fund Direct Growth has given a CAGR return of 12.28% since inception. Over the last 1 year the fund has given a CAGR return of 3.55%.
Holdings
ICICI Prudential Nifty Bank Index Fund Direct Growth has allocated its funds majorly in Cash Equivalent, Financial Services. Its top holdings are HDFC Bank Ltd, ICICI Bank Ltd, State Bank of India, Kotak Mahindra Bank Ltd, Axis Bank Ltd
Taxation
As it is a index funds mutual fund the taxation is as follows:For short term (less than a year) capital gains will be taxed at 15%For long term (more than 1 year) capital gains will be taxed at 10% without indexation benefitDividends will always be taxed at slab rate. Gains upto Rs 1 lakh are exempt in case of long term.
Investment objective of ICICI Prudential Nifty Bank Index Fund Direct Growth
The objective of the Scheme is to invest in companies whose securities are included in Nifty Bank Index and subject to tracking errors, to endeavor to achieve the returns of the above index. This would be done by investing in all the stocks comprising the Nifty Bank Index in the same weightage that they represent in Nifty Bank Index. However, there is no assurance or guarantee that the investment objective of the scheme shall be achieved.
Minimum Investment and lockin period
Minimum investment for lump sum payment is INR 1000.00 and for SIP is INR 1000.00. ICICI Prudential Nifty Bank Index Fund Direct Growth has no lock in period.
Historical NAV & Returns
ICICI Prudential Nifty Bank Index Fund Direct Growth Overview
| Expense ratio | 0.2% |
Benchmark | IISL Nifty Bank TR INR |
| AUM | ₹515 Cr |
| Inception Date | 2 March, 2022 |
| Min Lumpsum/SIP | ₹1000/₹1000 |
| Exit Load | 0% |
| Lock In | No Lock-in |
TurnOver | 55.42% |
| STCG | Selling mutual fund before 1 year, returns taxed at 20%. |
| LTCG | After 1 year, 12.5% tax on returns over ₹1.25 lakh/year. |
| Risk |   Very High Risk |
Fund Distribution
as on (30-Nov-24)
- This fund’s returns stands at 1.10% whereas the fund’s underlying benchmark Nifty Bank returns stands at -0.71% as on Nov'24
- This fund outperformed Nifty Bank by 1.81% in Nov'24
- AUM of the fund stands at 497.4 Cr as of Nov'24
- AUM has remained same between Nov'24 and Oct'24
Top Sector in November was Financial Services
Holdings | Weight% | 1M Change | |
|---|---|---|---|
 HDFC Bank Ltd | 29.33% | 3% | |
 ICICI Bank Ltd | 24.48% | 3% | |
 State Bank of India | 10.22% | 3% | |
 Kotak Mahindra Bank Ltd | 8.98% | 3% | |
 Axis Bank Ltd | 8.66% | 3% |
Top Losers | 1M Return |
|---|---|
 State Bank of India | -13.7% |
 HDFC Bank Ltd | -11.1% |
 Axis Bank Ltd | -9.3% |
ICICI Prudential Nifty Bank Index Fund Direct Growth Highlights
Very High Risk
About the fund
Fund Allocations
AUM size ₹515 Cr
Expense Ratio 0.2%
Frequently Asked Questions for ICICI Prudential Nifty Bank Index Fund Direct Growth
ICICI Prudential Nifty Bank Index Fund Direct Growth | Absolute Returns | CAGR Returns |
1 Month Returns | -9.07% | -9.07% |
6 Month Returns | -6.52% | -6.52% |
1 Year Returns | 3.55% | 3.55% |
3 Years Returns | 0% | 0% |
5 Years Returns | 0% | 0% |
- Click Buy on the fund name.
- Input the amount you are looking to invest.
- Select Lump Sum or SIP (Weekly, Monthly or Quarterly).
- Select your bank account and proceed with Payment.
Fund Name | Alpha 1 Year | Alpha 3 Years | Alpha 5 Years |
ICICI Prudential Nifty Bank Index Fund Direct Growth | -0.26 | - | - |
Fund Name | Beta 1 Year | Beta 3 Years | Beta 5 Years |
ICICI Prudential Nifty Bank Index Fund Direct Growth | 1 | - | - |
Fund Name | Sharpe Ratio 1 Year | Sharpe Ratio 3 Years | Sharpe Ratio 5 Years |
ICICI Prudential Nifty Bank Index Fund Direct Growth | -0.03 | - | - |
Fund Name | Standard Deviation 1 Year | Standard Deviation 3 Years | Standard Deviation 5 Years |
ICICI Prudential Nifty Bank Index Fund Direct Growth | 11.55 | - | - |