ICICI Prudential Focused Equity Fund

Fund Manager: Sharmila D mello, Vaibhav Dusad

SEBI Categorisation: Focused Fund

Type & Investment Objective

To generate capital appreciation by investing in a concentrated portfolio of equity and equity related

securities of up to 30 companies across market capitalization i.e. focus on multicap.

Fund Investment Strategy

ICICI Prudential Focused Equity Fund is an open-ended equity scheme investing in maximum 30

stocks across market capitalization. Follows Bottom Up stock picking approach. The scheme will

remain sector agnostic and will maintain overweight stance on select high conviction themes/sectors

that are expected to outperform in current economic cycle. The scheme takes a concentrated approach

but remains adequately diversified at the same time. Fund Manager Style in managing the fund - Blend

of Value and Growth.

Outlook

• Global macros at this point of time are more challenging which may impact global growth. In US

Higher fiscal deficit, higher debt, tariff turmoil resulting to higher volatility. US companies are in

decent shape but macros unfavourable for growth, layovers, AI threat. The Euro Area faces similar

trade-off as between high wages and tight credit conditions as in the US. Recent stimulus is meant

to control the pace of China’s slowdown. Valuations are attractive. Key factor driving initial gains

in Chinese equities was a continued optimism on AI expansion. Supply side reforms to help boost

economy.

• As on 31st October 2025, Nifty 50 was trading at 22.64x, FY25E price to earnings at 21.37x,

FY26E price to earnings at 20.96x. Ongoing rally in equity markets has pushed country's market

cap to GDP to 138% v/s historical average of 95%. Valuations of Large-cap stocks look relatively

cheaper leaving more headroom for margin of safety. AMC’s in-house Equity Valuation Index has

moved to the higher end of the neutral zone slightly suggesting incremental money to debt,

suggesting that market valuations are not cheap.

• India's fundamental attributes are robust and sustainable - Clean balance sheets, a structural

increase in consumption, unwavering domestic demand, and fiscal prudence. Hence, long term

structural story remains intact. Recent RBI actions like liquidity injection; key policy rate cuts,

large dividend to the Govt. and GST rationalization are positive for India's business cycle and inturn

may result in India growth and corporate earnings to pick-up. (Estimates are as per the AMC)

Sectoral Overweights

• Internet - Bottom up call play, focus on E-commerce space.

• Auto- consistent demand, Positive Catalysts, New Model Launches.

Sectoral Underweights

• Oil Gas and Petroleum Products - Demand Concern, Unwinding of voluntary cuts, Supply from

Non OPEC + Members, Geo Political tensions.

• Banks and Finance - AMC has reduced the exposure in banking sector to increase weights in other

lucrative sectors

Sectoral Attribution – Fund Vs Benchmark – 1 Year Performance

The top outperformers in this scheme for the last one year have been Auto, Real Estate, Auto,

Pharma & healthcare services while the underperformers for the fund have been Oil Gas and

Petroleum Products, Industrial Products and Capital Goods, Industrial Products.

Active Share (%): 67

The fund is an asset allocation product and is recommended with an investment horizon of

2-3 years, in line with investors’ individual risk profile and product suitability.

Returns (%)                                       (As on 28 November 2025)                                                                                                                                            

Absolute for <= 1 year and compounded annualized for > 1 year

Scheme Features
 

• Options: Growth and Income Distribution cum capital withdrawal (IDCW)

• Minimum Investment amount: Rs. 5000

• Load Structure Exit Load: "If redeemed bet. 0 Year to 1 Year; Exit Load is 1%;

• Benchmark Index: BSE 500 TRI

• October 2025 [Fund Size in Crs] 13,470.73

• NAV: 52 Week High / Low: Rs. 96.14 / 77.02
   

Product Label

This product is suitable for investors who are seeking^:

• Long Term Wealth Creation

• An open ended equity scheme investing in maximum 30 stocks across market-capitalisation.
  
  *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

Source for entire data stated above is ICRA Analytics Ltd. (For Disclaimer of ICRA Analytics Ltd, refer https://icraanalytics.com/home/disclaimer)

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