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  • 8/3/2019 ICICI Prudential Mutual Fund's Performance Analysis

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    PERFORMANCE ANALYSIS OF

    SELECTED MUTUAL FUND INDUSTRY

    ICICI Prudential Mutual Fund

    By:-

    Brajagopal Mondal(10MBA11)

    II MBA, KCT-BS

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    About ICICI Prudential Mutual Fund

    ICICI Prudential Asset Management Company Ltd. is ajoint venture between ICICI Bank and PrudentialPlc(UK).

    Average Assets under Management (AAUM) as on Sep2011 Month-end in Mutual Fund Schemes stood at Rs.75217.11 Crores.

    over 15 years of experience, more than 46 Mutualfunds schemes, own branch network of over 160branches and a distribution reach of over 42,000channel partners.

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    Contd..

    ICICI Bank is India's second-largest bank with total assets ofRs. 3,634.00 billion (US$ 81 billion) at 31st March, 2010 andprofit after tax Rs. 40.25 billion (US$ 896 million) for theyear ended 31st March, 2010.

    The Bank has a network of 2016 branches and about 5219ATMs in India and presence in 18 countries.

    ICICI Bank's equity shares are listed in India on Bombay

    Stock Exchange and the National Stock Exchange of IndiaLimited and its American Depositary Receipts (ADRs) arelisted on the New York Stock Exchange (NYSE).

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    Particulars ICICI Prudential

    Dynamic Plan

    ICICI Prudential

    Focused Bluechip

    Equity fund

    ICICI Prudential

    Discovery Fund

    ICICI Prudential

    Infrastructure Fund

    ICICI Prudential

    Tax Plan

    Launch Date Oct 07, 2002 May 07, 2008 Jul 23, 2004 Aug 16, 2005 Aug 09, 1999

    Minimum

    Investment

    Rs.5000 Rs.5000 Rs. 5000 /- Rs.5000 Rs. 500

    Benchmark Index S&P CNX Nifty S&P CNX Nifty CNX Midcap S&P CNX Nifty S&P CNX 500

    Fund Type Open-Ended Open-Ended Open-Ended Open-Ended Open-Ended

    Entry Load N.A. N.A. N.A. N.A. N.A.

    Exit Load Upto 1 Year from

    allotment - 1% of

    applicable NAV,more than 1 Year -

    Nil

    Upto 1 Year from

    allotment - 1% of

    applicable NAV,more than 1 Year -

    Nil

    Upto 1 Year from

    allotment - 1% of

    applicable NAV,more than 1 Year -

    Nil

    Upto 1 Year from

    allotment - 1% of

    applicable NAV,more than 1 Year -

    Nil

    N.A

    Fund Manager Sanjay Parekh Prashant Kothari Mrinal Singh Prashant Kothari Chintan Haria

    Asset Size (Rs. In

    crores) as on 30 Jun

    2011

    1.05 2,501.52 1,746.11 2,814.68 1,323.20

    Crisil Fund Rank 2 1 2 3 1

    1-year Return -12.7% -8.5% -15.4% -20.7% -13.5%

    Performance View Buy Strong Buy Buy Average Buy Strong Buy

    Investment Type General Equity General Equity General Equity General Equity General Equity

    Crisil FundCategory

    Diversified Equity Large Cap Small & Mid Cap Infrastructure ELSS

    Equity Funds Details

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    ICICI Prudential Dynamic Plan- Open

    ended dynamic equity fund

    It focuses on a portfolio of large-cap, mid-cap andsmall-cap stocks, having a potential of long-termcapital appreciation.

    It also has the ability to move gradually into cashas and when the market gets over-valued.

    This fund is ideal for -Conservative investors with a

    long-term investment horizon in equity.

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    107.94 106.65

    96.71

    18.23 18.02 16.34

    0

    20

    40

    60

    80

    100

    120

    Jun-11 Jul-11 Aug-11

    NAV

    Growth

    Dividend

    Jun-11 Jul-11 Aug-11

    Growth 107.94 106.65 96.71

    Dividend 18.23 18.02 16.34

    0

    5

    10

    15

    20

    25

    30

    Std Dev Sharp Ratio Portfolio Beta R Squared

    Jun-11

    Jul-11

    Aug-11

    Jun-11 Jul-11 Aug-11

    Std Dev 25.48 25.38 26.1

    Sharp Ratio 0.48 0.37 0.2

    Portfolio Beta 0.79 0.79 0.8

    R Squared 0.92 0.92 0.927

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    ICICI Prudential Focused Bluechip

    Equity fund

    open-ended equity scheme, aims to maximize long-term total returns.

    focused and optimally diversified portfolio that is

    invested in equity and equity related securities ofabout 20 companies belonging to the large capdomain.

    This fund is ideal for -Investors looking at the comfort of

    investments in large-cap companies.

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    16.68

    16.54

    15.13

    15.9115.78

    14.43

    13

    13.5

    14

    14.5

    15

    15.5

    16

    16.5

    17

    Jun-11 Jul-11 Aug-11

    NAV

    NAV

    Growth

    Dividend

    Jun-11 Jul-11 Aug-11

    Growth 16.68 16.54 15.13

    Dividend 15.91 15.78 14.43

    26.04

    0.6 0.84 0.98

    25.99

    0.51 0.84 0.98

    26.67

    0.37 0.850.98

    0

    5

    10

    15

    20

    25

    30

    Std Dev Sharp Ratio Portfolio Beta R Squared

    Quantitative Indicators

    Jun-11

    Jul-11

    Aug-11

    Jun-11 Jul-11 Aug-11

    Std Dev 26.04 25.99 26.67

    Sharp Ratio 0.6 0.51 0.37

    Portfolio Beta 0.84 0.84 0.85

    R Squared 0.98 0.98 0.989

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    ICICI Prudential Discovery Fund

    open-ended diversified equity fund, invests in companies that arewell managed, fundamentally strong, and chosen based on in-depthresearch.

    As it is intended to buy these companies at a discount to their fair

    value, there is also a margin of safety in the value of the portfolio.

    This fund is ideal for -

    Investors with a long-term investment horizonin equity as it could take time to unlock the value from such stocks.

    Investors who are looking to further diversifytheir portfolios by investing in a value fund.

    Investors who recognize the value strategy ofbargain hunting for intrinsically good stocks.

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    48.66 48.89

    43.91

    19.58 19.6717.67

    0

    10

    20

    30

    40

    50

    60

    Jun-11 Jul-11 Aug-11

    NAV

    NAV

    Growth

    Dividend

    Jun-11 Jul-11 Aug-11

    Growth 48.66 48.89 43.91

    Dividend 19.58 19.67 17.67

    33.63

    0.63 1.02 0.86

    33.64

    0.59 0.91 0.93

    34.41

    0.45 0.92 0.930

    5

    10

    15

    20

    25

    30

    35

    40

    Std Dev Sharp Ratio Portfolio Beta R Squared

    Quantitative Indicators

    Jun-1

    Jul-1

    Aug-

    Jun-11 Jul-11 Aug-11

    Std Dev 33.63 33.64 34.41

    Sharp Ratio 0.63 0.59 0.45

    Portfolio Beta 1.02 0.91 0.92

    R Squared 0.86 0.93 0.93 11

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    ICICI Prudential Infrastructure Fund

    Open-ended equity fund, focused on capturing theopportunity presented by the long-term growth anddevelopment potential of the Indian Infrastructure Sector.

    The Fund focuses its investments on the core infrastructuresector and allied sectors that directly feed off its growth.

    This fund is ideal for -

    Investors with a long-term

    investment horizon in equities.Investors aiming to capitalize on

    the infrastructure and allied sectors theme.

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    28.78 28.37

    25.84

    11.59 11.4310.41

    0

    5

    10

    15

    20

    25

    30

    35

    Jun-11 Jul-11 Aug-11

    NAV

    NAV

    Growth

    Dividend

    Jun-11 Jul-11 Aug-11

    Growth 28.78 28.37 25.84

    Dividend 11.59 11.43 10.41

    29.22

    0.160.92 0.94

    28.75

    0.020.79 0.91

    29.29

    -0.090.79 0.91

    -5

    0

    5

    10

    15

    20

    25

    30

    35

    Std Dev Sharp Ratio Portfolio Beta R Squared

    Quantitative Indicators

    Jun-11

    Jul-11

    Aug-11

    Jun-11 Jul-11 Aug-11

    Std Dev 29.22 28.75 29.29

    Sharp Ratio 0.16 0.02 -0.09

    Portfolio Beta 0.92 0.79 0.79

    R Squared 0.94 0.91 0.91

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    ICICI Prudential Tax Plan

    Open-ended equity linked savings scheme, isan opportunity aimed at harnessing thebenefits of investing in equity and also

    providing tax benefits.

    This fund is ideal for -

    Conservative investorswith a investment horizon of 3 to 5 years andare also looking at saving tax

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    141.72 141.06

    127.98

    19.04 18.95 17.2

    0

    20

    40

    60

    80

    100

    120

    140

    160

    Jun-11 Jul-11 Aug-11

    NAV

    NAV

    Growth

    Dividend

    Jun-11 Jul-11 Aug-11

    Growth 141.72 141.06 127.98

    Dividend 19.04 18.95 17.2

    31.92

    0.45 0.99 0.9

    31.91

    0.39 0.94 0.94

    32.53

    0.270.94 0.95

    0

    5

    10

    15

    20

    25

    30

    35

    Std Dev Sharp Ratio Portfolio Beta R Squared

    Quantitative Indicators

    Jun-11

    Jul-11

    Aug-11

    Jun-11 Jul-11 Aug-11

    Std Dev 31.92 31.91 32.53

    Sharp Ratio 0.45 0.39 0.27

    Portfolio Beta 0.99 0.94 0.94

    R Squared 0.9 0.94 0.95

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    Debt Funds DetailsParticulars ICICI Prudential

    Flexible Income

    Plan

    ICICI Prudential

    Floating Rate Plan

    ICICI Prudential

    Ultra Short Term

    Plan

    ICICI Prudential

    Medium Term Plan

    ICICI Prudential

    Long Term Floating

    Rate Plan

    Launch Date Mar 18, 2009 Jul 30, 2004 Jun 11, 2009 Jun 11, 2009 Jul 30, 2004Minimum

    Investment

    Rs. 15000 /- Rs. 10000 /- Rs. 5000 /- Rs. 5000 /- Rs. 10000 /-

    Benchmark Index N.A N.A N.A N.A N.A

    Fund Type Open-Ended Open-Ended Open-Ended Open-Ended Open-Ended

    Entry Load N.A. N.A. N.A. N.A. N.A.

    Exit Load N.A Upto 3 Days from

    allotment - 0.25% of

    applicable NAV,

    more than 3 Days -

    Nil

    Upto 30 Days from

    allotment - 0.25% of

    applicable NAV,

    more than 30 Days -

    Nil

    Upto 9 Months from

    allotment - 0.50% of

    applicable NAV,

    more than 9 Months -

    Nil

    Upto 125 days from

    allotment - 0.50% of

    applicable NAV,

    more than 125 days -

    Nil

    Fund Manager Chaitanya Pande Chaitanya Pande Chaitanya Pande Chaitanya Pande Chaitanya Pande

    Asset Size (Rs. In

    crores) as on 30 Jun

    2011

    910.87 354.70 43.87 4.43 354.70

    Crisil Fund Rank 2 2 Not Ranked Not Ranked 2

    1-year Return 8.0% 7.8% 7.8% 8.0% 7.8%

    Performance View Buy Buy Not Ranked Not Ranked Buy

    Investment Type General Debt General Debt General Debt General Debt General Debt

    Crisil Fund

    Category

    Ultra Short Term

    Debt Retail

    Ultra Short Term

    Debt Retail- - Ultra Short Term

    Debt Retail16

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    ICICI Prudential Flexible Income Plan

    Open-ended income fund, seeks to actively manage such risks as aconscious investment strategy by allowing the fund manager toswitch the allocation from a 100% debt stance to a 100% cashstance.

    Provides the flexibility to implement yield curve strategies, or

    manage interest rate volatility better.

    Key Benefits

    A portfolio which strategically deploys funds in thedebt markets to take advantage of interest rate risks.

    Facilitates participation in markets that are large andinstitution-dominated.

    Provides the potential to earn total return from bothinterest and capital gains, with the attendant risks of capital loss aswell.

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    186.92

    188.25

    189.73

    185.5

    186

    186.5

    187

    187.5

    188

    188.5

    189

    189.5

    190

    Jun/11 Jul/11 Aug/11

    Growth

    Growth

    Jun-11 Jul-11 Aug-11

    Growth 186.92 188.25 189.73

    Dividend 19.04 18.95 17.2

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    ICICI Prudential Floating Rate Plan

    Open-ended income fund, focuses primarily ondynamic interest rates, and takes rapid actionwhen necessary to minimize the impact of thesefluctuations on your portfolio.

    Key Benefits

    A portfolio that focuses on accrualincome, which is derived from floating rateinstruments.

    Reduced interest rate risk oflonger term instruments.

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    153.06

    165.44

    156.12

    148.72

    153.99

    166.47

    157.16

    149.76

    155.05

    167.62

    158.26

    150.93

    135

    140

    145

    150

    155

    160

    165

    170

    Plan - A Plan - B Plan - C Plan - D

    Growth

    Jun-11

    Jul-11

    Aug-11

    Jun-11 Jul-11 Aug-11

    Plan - A 153.06 153.99 155.05

    Plan - B 165.44 166.47 167.62

    Plan - C 156.12 157.16 158.26

    Plan - D 148.72 149.76 150.9320

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    ICICI Prudential Ultra Short Term Plan

    Open-ended income fund, is designed for such short-termrequirement, as it enables deploying of funds for shorterperiods of time, from 3 to 6 months.

    Generates regular income while cautiously monitoring therate of interest.

    Key Benefits

    Investors seeking safety and liquidity, whileearning stable and competitive returns, in a scenario where

    it is difficult to forecast the future interest rate outlook.Conservative investors who may want to

    outplay the yield in short-term bank deposits in a tax-efficient manner.

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    11.05

    11.1

    11.15

    11.2

    11.25

    11.3

    11.35

    Jun-11 Jul-11 Aug-11

    NAV

    Growth

    Growth

    Jun-11 Jul-11 Aug-11

    Growth 11.15 11.21 11.3

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    ICICI Prudential Medium Term Plan

    Open-ended income fund, seeks to generate regular incomethrough investments in debt and money market securities.

    It follows a disciplined investment process .

    This fund is ideal for -

    Conservative investors looking to earnsomething extra over a bank savings account in a tax-efficientmanner.

    Investors looking to earn regularaccrual income from a debt investment.

    Investors seeking safety of principal,while earning a stable and competitive return in a scenario whereinterest rate outlook looks unfavorable from a longer maturityperspective.

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    11.12

    11.17

    11.27

    11

    11.05

    11.1

    11.15

    11.2

    11.25

    11.3

    Jun-11 Jul-11 Aug-11

    NAV

    Growth

    Growth

    Jun-11 Jul-11 Aug-11

    Growth 11.12 11.17 11.27

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    ICICI Prudential Long Term Floating

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    ICICI Prudential Long Term Floating

    Rate Plan

    Long Term Floating Rate Plan, an open-ended income fund,enables such a focus on interest rates.

    It further extends this benefit by tapping into productswhose interest rates are benchmarked to longer term rates.

    This fund is ideal for -

    Investors who believe thatinterest rates in the short to medium term could increase.

    Investors who prefer floating rate

    interest income, over gains / losses from changes inportfolio value.

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    15.39 15.4615.58

    15.88 15.95 16.08

    10.6710.01 10.09

    0

    2

    4

    6

    8

    10

    12

    14

    16

    18

    Jun/11 Jul/11 Aug/11

    NAV

    Plan - A

    Plan - B

    Plan - C

    Jun-11 Jul-11 Aug-11

    Plan - A 15.39 15.46 15.58

    Plan - B 15.88 15.95 16.08

    Plan - C 10.67 10.01 10.09

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    Thank You