ICICI Prudential Large Cap Fund

Fund of the Month: ICICI Prudential Large Cap Fund

Fund Manager: Anish Tawakley, Vaibhav Dusad, Sharmila D mello
 

SEBI Categorisation: Large Cap Fund
 

Type & Investment Objective

To generate long term capital appreciation and income distribution to investors from a portfolio that

is predominantly invested in equity and equity related securities of large cap companies.
 

Fund Investment Strategy

ICICI Prudential Large Cap Fund is an open ended equity scheme predominantly investing in large cap stocks (Min 80%)The Scheme seeks to invest only in large cap companies with a proven track record, quality management and good growth potential. The scheme follows a ‘Buy & Hold approach’ for potential long term growth. Follows Bottom Up stock picking approach.The Fund Manager follows a growth approach
 

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.

= As on 30th November 2025, Nifty 50 was trading at 22.79x, FY25E price to earnings at 21.37x, FY26E price to earnings at 21.33x. 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.

= Growth is expected to get support from rate cuts, tax relief, softer inflation and a healthy monsoon. However, intensifying external headwinds pose a downside risk to India’s growth prospects. US tariffs and slowing global growth are expected to weigh on India’s exports. Inflation is expected to remain benign on the back of low crude oil prices and impact of GST rationalization on retail prices. However, overall impact of GST rationalization will depend on the extent of the pass-through.

(Estimates are as per the AMC)
 

Sectoral Overweights

= Industrial Products and Capital goods: Increased capex focus for boosting manufacturing in India and China plus one theme playing out well.

= Auto: Consistent demand, Positive Catalysts, New Model Launches.
 

Sectoral Underweights

= Consumer Non-Durables: Muted demand, margin pressure, Price hike.

= Software: Digital transition to take time, Macro uncertainties & rising interest rates have impacted client sentiments on tech spending, Weakness in global manufacturing and BFSI sector continues to dampen demand.
 

Sectoral Attribution – Fund Vs Benchmark – 1 Year Performance

The top 3 outperformers in this scheme for the last one year have been Telecom, Cement, Auto, Industrial products and capital goods, while the 3 underperformers for the fund have been Software, metals and mining, Consumer non-durables.
 

Active Share (%): 60.00
This fund is recommended for investors with an investment horizon of 2-3 years, in line with investors’ individual risk profile and product suitability.


 

Returns (%)                                       (As on 28 November 2025)                                                                                                                                            

Scheme Features
 

• Options: Growth and Income Distribution cum capital withdrawal (IDCW)
• Minimum Investment amount: Rs. 100
• Load Structure Exit Load: If redeemed before 1 Year; Exit Load is 1%; 
• Benchmark Index: Nifty 100 TRI
• November 2025 [Fund Size in Crs] 78,159.80
• NAV: 52 Week High / Low: Rs. 116.27 / 96.19
   

Product Label

This product is suitable for investors who are seeking^:

• Long Term Wealth Creation

• An open ended equity scheme predominatly investing in larg cap stocks

  
  *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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