ICICI Prudential Innovation Fund Direct Growth

ICICI Prudential Innovation Fund Direct Growth is an equity fund. This fund was started on 2 May, 2023. The fund is managed by Vaibhav Dusad, Anish Tawakley. The fund could potentially beat inflation in the long-run.

1. ICICI Prudential Innovation Fund Direct Growth has ₹6581 Cr worth of assets under management (AUM) as on Mar 2025 and is more than category average.
2. The fund has an expense ratio 0.8.
   

ICICI Prudential Innovation Fund Direct Growth has given a CAGR return of 33.44% since inception. Over the last 1 year the fund has given a CAGR return of 14.11%.

ICICI Prudential Innovation Fund Direct Growth has allocated its funds majorly in Cash Equivalent, Financial Services, Consumer Cyclical, Industrial, Government, Health, Consumer Defensive, Tech, Communication, Energy, Basic Materials, Utilities. Its top holdings are ICICI Bank Ltd, Reliance Industries Ltd, Maruti Suzuki India Ltd, Axis Bank Ltd, Pidilite Industries Ltd

As it is a equity - other mutual fund the taxation is as follows:
For short term (less than a year) capital gains will be taxed at 20%
For long term (more than 1 year) capital gains will be taxed at 12.5% without indexation benefit
Dividends will always be taxed at slab rate. Long term gains upto Rs 1 lakh are exempt capital gains tax.

The Scheme is an open ended thematic fund. The objective of the Scheme is to generate long term capital appreciation by predominantly investing in equity & equity related securities of companies and units of global mutual funds/ETFs that can benefit from innovation strategies and theme. However, there can be no assurance or guarantee that the investment objective of the Scheme will be achieved.

Minimum investment for lump sum payment is INR 5000.00 and for SIP is INR 100.00. ICICI Prudential Innovation Fund Direct Growth has no lock in period.