Sei sulla pagina 1di 148
April 2014 KEEP SMILING, NO MATTER WHICH WAY THE MARKET GOES. derivatives HIGH RISK (BROWN)
April 2014 KEEP SMILING, NO MATTER WHICH WAY THE MARKET GOES. derivatives HIGH RISK (BROWN)
April 2014 KEEP SMILING, NO MATTER WHICH WAY THE MARKET GOES. derivatives HIGH RISK (BROWN)

April 2014

KEEP SMILING, NO MATTER WHICH WAY THE MARKET GOES.

April 2014 KEEP SMILING, NO MATTER WHICH WAY THE MARKET GOES. derivatives HIGH RISK (BROWN) *
April 2014 KEEP SMILING, NO MATTER WHICH WAY THE MARKET GOES. derivatives HIGH RISK (BROWN) *
April 2014 KEEP SMILING, NO MATTER WHICH WAY THE MARKET GOES. derivatives HIGH RISK (BROWN) *
derivatives HIGH RISK (BROWN) * Investors should consult their financial advisers if in doubt about
derivatives
HIGH RISK
(BROWN)
* Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
if in doubt about whether the product is suitable for them. Mutual Fund investments are subject

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

The Market

Overview

Equity Market Outlook

Equity Market Outlook

Global economy

The near-zero interest rate regime in the US, which began in December 2008 after the financial crisis, may end in early 2015. The Fed lowered its monthly bond buying by $10 bn to $55 bn. Meanwhile, the US government’s final estimate showed that the country’s Q4 (October-December) 2013 gross domestic product (GDP) growth rose 2.6% (annually) from the previous estimate of 2.4%. Further, rating agency Fitch has affirmed the US’ AAA credit rating with a stable outlook.

European Central Bank’s President Mario Draghi said that the central bank has been preparing additional policy steps to guard against deflation as a strong euro weighed on prices. In the UK, inflation fell to its four-year-plus low of 1.7% in February 2014 (1.9% in January 2014).

In Asia, fear of the world’s fastest growing economy – China – losing its steam

aggravated following weak economic indicators. Meanwhile, Japan’s annual

Q4FY14 GDP growth rate was revised down to 0.7% from the preliminary estimates of 1% and 1.1% in Q3FY14. (Data Source: Reuters)

Fundamentals and Economics:

Growth

India’s Index of industrial production (IIP) rose 0.1% in January 2014 after falling for the past three consecutive months. The mining and electricity output was 0.7% and 6.5% respectively. However, manufacturing output fell 0.7% - the fourth consecutive monthly decline as rising exports failed to cushion

a sustained weakness in domestic consumption and a lull in investments.

Consumer goods output declined 0.6% compared with 2.5% growth a year earlier while capital goods output fell 4.2% in January 2014 compared with

a fall of 2.5% in the same month last year. India’s core infrastructure industry growth rose to a five-month high of 4.5% in February 2014 versus 1.6% in January 2014 and 1.3% a year ago. (Data Source: Mospi.Nic.in, CRISIL Centre for Economic Research (CCER))

Inflation

India’s headline annual Wholesale Price Index (WPI) fell to a nine-month low of 4.68% in February 2014 from 5.05% in the previous month and 7.28% during the same month of the last year. The combined Consumer Price Index (CPI) inflation fell to 8.1% in February from 8.8% in the previous month helped by easing of vegetable prices. Inflation in vegetables dropped to 14% from over 61% in November 2013. Inflation in non-food categories such as housing, clothing bedding and footwear remains high at over 9%. (Data Source: Mospi. Nic.in, CCER)

Deficit

India’s trade deficit narrowed to $8.1 bn in February 2014 from $9.9 bn in January 2014. The improvement was despite a fall in exports as the

compression in imports remained sharp. Exports declined 3.7% year-on-year

to $25.69 bn in February while imports fell 17.1% year-on-year to $33.82 bn.

This contraction was driven by weak domestic demand and restrictions on gold imports that steepened the fall in non-oil imports to 24.5% y-o-y. The fall in oil imports slowed to 3.1% from 10.1% last month. The trade deficit for April-February 2013-14 was $128.1 bn compared with $179.9 bn in 2012-13. Meanwhile, the country’s current account deficit (CAD) for October-December 2013 narrowed to $4.2 bn, or 0.9% of GDP, from $31.9 bn a year ago, when it was at 6.5% of GDP. The fiscal deficit rose to Rs 5.993 lakh cr in April-February, well above the revised budget target of Rs 5.245 lakh cr for the full year ending March. (Data Source: CCER)

Currency

The Indian rupee rose to an eight-month high at Rs 59.91 against the US dollar,

gaining 3% in the month on the back of rally in domestic equities and on sustained custodian and corporate dollar. The fall in current account deficient (CAD), easing inflation and favourable industrial production data helped the rupee maintain its positive momentum. (Data Source: RBI)

One-year CD Rate

One-year certificate of deposit (CD) rate was 9.06% as on March 28, 2014. (Data Source: CRISIL Fixed Income Database)

Market Sentiments

Flows

Foreign institutional investors (FIIs) net bought equities worth Rs. 22,393 cr in March 2014 compared with buying of Rs. 2,594 cr in February 2014. Mutual funds continued to be sellers for the seventh consecutive month in March 2014 with net selling of Rs. 3,735 cr compared with selling of Rs. 1,208 cr in the previous month. (Data Source: SEBI)

Market Performance

CNX Nifty and S&P BSE Sensex gained 6.81% and 5.99%, respectively during the month, closing at record highs. Year to Date Returns (till 31st March 2014) for CNX Nifty and S&P BSE Sensex were 6.35% and 5.74% respectively. (Data Source: NSE, BSE)

Triggers

The lowering of current account deficit logically leads to a sequence of triggers - lower inflation, fall in interest rates and consequently growth. This has enhanced our conviction that from the medium term perspective, there is a significant improvement in the outlook of equity. The outcome of the general election results in May, 2014 is one of the major events, which the market is currently focusing on. The outcome of the same is likely to decide the market trend in the near term.

Outlook

The equity market in the first half of 2014 is an election driven market. The improvement in the macro-economic scenario coupled with a highly probabilistic scenario of a stable government at the Centre, post-elections in May 2014, would shift the focus to economic growth. Till election, devoid of any negative news, the market could move sideways or upwards. But, if the election results are not in line with market expectations, or if there is a disappointment, it may lead to volatility in the markets.

Recommendations

With an aim to capitalize on run up due to positive triggers

1. ICICI Prudential Banking & Financial Services Fund

2. ICICI Prudential Infrastructure Fund

3. ICICI Prudential Midcap Fund

With an aim to capitalize on value opportunities

1. ICICI Prudential Discovery Fund

With an aim to play on volatility in equity markets

1. ICICI Prudential Balanced Advantage Fund

2. ICICI Prudential Dynamic Plan

3. ICICI Prudential Balanced Fund

For core equity

1. ICICI Prudential Focused Bluechip Equity Fund

2. ICICI Prudential Top 100 Fund

Long term investors should continue with their regular systematic investment without getting swayed by short-term volatility.

The Market

Overview

Equity Market Outlook

Technicals (Data Source : Bloomberg)

Investments by Institutions in the cash segment (Rs. Cr)

Jan-14 to

Oct-13 to

Indices Movement

% Qtr change

% Qtr change

Mar-14

Dec-13

Mar-14

Dec-13

FIIs (Net Purchases / Sales)

8282

40707

S&P BSE Sensex

5.74%

9.24%

MFs (Net Purchases / Sales)

-2486

-5072

CNX Nifty

6.35%

9.92%

Avg Daily Open Interest (Rs. Cr)

   

S&P BSE Mid Cap

5.63%

19.61%

Index Futures

14930

16355

S&P BSE Small Cap

7.95%

19.85%

Stock Futures

35911

32868

S&P BSE Realty

2.44%

22.48%

Index Options

78948

79864

S&P BSE Metals

0.95%

19.03%

Stock Options

11762

9137

S&P BSE Consumer Durables

12.11%

0.84%

Total

1,41,551

1,38,224

S&P BSE Capital Goods

17.02%

33.19%

Avg Daily Volumes (Rs. Cr)

   

S&P BSE Bankex

12.08%

18.59%

Cash Segment

   

S&P BSE PSU

7.53%

8.51%

BSE

2354

2021

S&P BSE Auto

8.33%

11.48%

NSE

11578

11064

S&P BSE Oil & Gas

7.37%

7.52%

Total

13,932

13,085

S&P BSE Teck Index

-2.90%

13.85%

Derivative Segment

   

S&P BSE Healthcare

1.18%

5.31%

NSE

147525

142777

S&P BSE FMCG

6.15%

-3.96%

Total

1,47,525

1,42,777

Avg Advance Decline Ratio

   

BSE

0.98

1.08

NSE

1.04

1.15

Valuation Ratios

Mar-14

Dec-13

P/E ratio- Sensex

17.80

18.16

P/E ratio- Nifty

18.86

18.70

Price/Book Value Ratio-Sensex

2.70

2.65

Price/Book Value Ratio-Nifty

3.23

2.99

Dividend Yield-Sensex

1.50

1.43

Dividend Yield-Nifty

1.37

1.48

Valuations Chart 30 23500 23000 29 22500 28 22000 27 21500 21000 26 STRETCHED 19x
Valuations Chart
30
23500
23000
29
22500
28
22000
27
21500
21000
26
STRETCHED 19x plus
20500
25
20000
19500
24
19000
23
18500
18000
22
17500
21
17000
20
16500
16000
19
15500
18
15000
FAIR
VALUE
PLUS
16x
-18x
14500
17
14000
16
13500
15
13000
FAIR
13x
-15x
12500
14
12000
13
11500
12
ATTRACTIVE 11x
-12x
11000
10500
11
10000
10
9500
CHEAP 8x
-10x
9000
9
8500
8
8000
Sensex(RHS)
Valuations(LHS)
Jan-06
Mar-06
May-06
Jul-06
Sep-06
Nov-06
Jan-07
Mar-07
May-07
Jul-07
Sep-07
Nov-07
Jan-08
Mar-08
May-08
Jul-08
Sep-08
Nov-08
Jan-09
Mar-09
May-09
Jul-09
Sep-09
Nov-09
Jan-10
Mar-10
May-10
Jul-10
Sep-10
Nov-10
Jan-11
Mar-11
May-11
Jul-11
Sep-11
Nov-11
Jan-12
Mar-12
May-12
Jul-12
Sep-12
Nov-12
Jan-13
Mar-13
May-13
Jul-13
Sep-13
Nov-13
Jan-14
Mar-14

Valuations levels of the Sensex based on earnings estimate of Rs.1548 (4 Quarter Forward)

3
3

The Market

Overview

 

Fixed Income Market Outlook

 

Impact on Interest Rates

under the LAF from 0.5% of bank-wise NDTL to 0.25% with immediate effect. This move of the central bank is in pursuance of Dr. Urjit R. Patel Committee’s recommendation to de-emphasise overnight “guaranteed-access” windows for liquidity management and progressively conduct liquidity management through term repos. The primary objective is to improve the transmission of policy impulses across the interest rate spectrum. (Data Source: RBI)

FACTORS

Short Term

Medium Term

(1-3 Months)

(3-6 Months)

 

Inflation

NEUTRAL

POSITIVE

 

India’s headline annual Wholesale Price Index (WPI) fell to a nine-month low of 4.68% in February 2014 as compared with 5.05% in January 2014 and 7.28% during the same month in 2013. The combined Consumer Price Index (CPI) inflation fell to 8.1% in February 2014 from 8.8% in the previous month. Retail inflation (CPI) has fallen for three months in a row helped by easing of vegetable prices, which declined to 14% in February 2014 from over 61% in November 2013. Although overall food inflation has fallen to 8.6%, prices of pulses have been rising at a fast pace for four consecutive months now. Prices of fruits, milk and milk products too have increased in the recent months. Inflation in non-food categories such as housing, clothing, bedding and footwear remains high at over 9%. (Data Source: Mospi.Nic.in, CRISIL Centre for Economic Research (CCER))

Liquidity

POSITIVE

NEUTRAL

Interbank call money rates mostly traded above the Reserve Bank of India’s (RBI’s) repo rate of 8% for most part of the month due to increased borrowings by banks towards the end of the financial year and due to outflows towards corporate advance tax. The call rates spiked sharply on the last session of the month to end at 10.00-10.50% on March 28, 2014 as compared with 7.75-7.90% on February 28, 2014 as most state-owned banks did not lower their lending rates since the financial year came closer to its end. However, further rise in call rates was restricted at regular levels as the RBI periodically conducted repo auctions to ease liquidity in the system. Finally, call rates ended lower tracking the sporadic fall in CBLO rates, the government’s Rs. 15,000 cr and Rs. 5,000 cr gilt re-purchase on March 18, 2014 and March 24, 2014 respectively, and on payment of subsidies to oil marketing companies. India’s M3 money supply rose to 14.2% y-o-y in the fortnight ended March 7, 2014 compared with 12.8% a year ago. Reserve money rose to 10.4% y-o-y in the week to March 21, 2014 compared with 5.3% growth a year ago. The currency in circulation grew 10.0% y-o-y in the week to March 21, 2014 against 10.8% a year ago. Banks’ net average borrowing from the central bank’s liquidity adjustment facility (LAF) was Rs. 23,393 cr in March 2014 compared with Rs. 28,324 cr in the previous month. Banks borrowed on an average Rs. 6,520 cr in March 2014 from the RBI’s marginal standing facility (MSF) compared with Rs. 6,250 cr in the previous month. (Data Source: RBI)

Credit Demand

POSITIVE

POSITIVE

Bank credit growth remained below the RBI’s target of 15% at 14.7% y-o-y for the fortnight ended March 7, 2014, marginally down from 14.8% y-o-y growth recorded for the fortnight ended February 7, 2014. Deposit growth remained above the RBI’s 14% growth projection for the current financial year at 15.6% for the fortnight ended March 7, 2014 same growth as in the corresponding fortnight a month ago. (Data Source: CRISIL Fixed Income Database)

Government Borrowings

POSITIVE

NEUTRAL

In March, the RBI released its borrowing calendar for April-September 2014-15, wherein it said that the government would borrow Rs. 3.68 lakh cr through dated securities in the first half of 2014-15. The market borrowing for the first half would account for 61.6% of the gross market borrowing of Rs. 5.97 lakh cr for the entire financial year. (Data Source: RBI, CRISIL Fixed Income Database)

Foreign Exchange

POSITIVE

POSITIVE

The Indian rupee rose to an eight-month high at Rs. 59.91 against the US dollar, gaining 3% in the month on the back of rally in domestic equities and on sustained custodian and corporate dollar inflows (due to optimism ahead of the general elections). The fall in current account deficit, easing inflation and favourable industrial production data helped the rupee maintain its positive momentum. However, further rise in the rupee was capped due to (1) the decline in global risk appetite following the Ukrainian crisis, (2) US Fed Chief Janet Yellen’s hawkish interest rate guidance, (3) the Indian importers’ demand for dollars and (4) reports that the government does not plan to include Indian gilts in global bond indices anytime soon. India’s forex reserves rose marginally to $298.64 bn as on March 21, 2014 as compared with $294.36 bn as on February 28, 2014. (Data Source: RBI)

RBI Policy

NEUTRAL

POSITIVE

In its first bi-monthly monetary policy statement, the RBI maintained status quo on its key interest rates. Thereby the main policy repo rate under the Liquidity Adjustment Facility (LAF) is kept unchanged at 8.0%. Consequently, the reverse repo rate under the LAF will remain unchanged at 7.0%, and the Marginal Standing Facility (MSF) rate and the bank rate at 9.0%. The RBI also kept the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0% of net demand and time liability (NDTL).

In an important development pertaining to liquidity, the RBI increased the liquidity provided under 7-day and 14-day term repos from 0.5% of NDTL of the banking system to 0.75%, and decreased the liquidity provided under overnight repos

Market Sentiment

Long-Term Rates

Indian government bond (gilts) prices rose during the month, with the yield on the 10-year benchmark paper 8.83%, 2023 bond falling to 8.80% on March 28, 2014 from 8.86% on February 28, 2014. Sentiments were boosted following a rise in the rupee after government data showed that the country’s CAD had fallen to its lowest level in eight years. Decline in Gross Domestic Product (GDP) growth to 4.7% in Q3FY14 compared with 4.8% in Q2 FY14 also augured well for gilts as it raised hopes of monetary easing by the central bank. Fall in both wholesale and retail inflation also augured well for Indian gilts. Sentiment for gilts was also propped up by comfortable liquidity conditions as a result of the RBI’s gilt repurchase auctions conducted during the month.

However, further rise in gilts was restrained on the back of subdued participation by India’s state-owned banks; as the financial year draws to a close, the banks are in a cautious mode ahead of the release of the government’s borrowing plans on March 28, 2014 for the next fiscal. US Fed Chief Janet Yellen’s announcement that US central bank may hike interest rates as early as March-April 2015 weighed on the prices. (Data Source: Reuters)

Short-Term Rates

The short-term rates fell sharply during the month with the three-month certificate of deposit ending at 8.62% on March 28, 2014 as compared with 9.83% on February 28, 2014 while the three-month commercial paper rates ended lower at 8.86% on March 28, 2014 as compared with 10.25% on February 28, 2014. (Data Source: RBI, CRISIL Fixed Income Database)

Outlook

In the bimonthly monetary policy, the RBI kept the key rates unchanged. There was marginal shift in liquidity support provided by the RBI to the system from LAF to Term Repo. RBI lowered cap on overnight repo under LAF from 0.50% of NDTL of banking system to 0.25%; compensating by an increase in term repo for same amount under 7 day and 14 day repo which has been increased from 0.50% to 0.75%. These adjustments will not change the overall liquidity situation, but the cost of funds could go up marginally and will now be the function of market demand for funds rather than the current repo rate of 8%. Going ahead, we believe RBI may maintain cautious stance and wait for more information and clarity on uncertainties around elections and monsoon for further direction on the monetary policy in June’2014 policy.

Drifting down from their peak last month, short term rates may stay at current levels during the course of this month. However, government spending and easing seasonal liquidity pressures may later actuate some softening in the short term yields. Long term rates will be range bound and may face challenge because of upcoming auction supply and will further be guided from more data on inflation front to decide its future course. However, as the trade deficit remains low and current account deficit contained within 2% of GDP, we maintain positive bias on long term bond yields and recommend investments in long duration funds.

Recommendations

Investment Horizon

Fund

Relevance

6 months and above

ICICI Prudential Bank- ing & PSU Debt Fund

Elevated short term rates gives potential entry point in the fund with an aim to earn reasonable accrual income.

15

months and above

ICICI Prudential Regular Savings Fund

Short term yields at current levels provide potential entry point as the scheme aims to earn from accrual income.

18

months and above

ICICI Prudential Corpo- rate Bond Fund

Elevated rates in 1 to 5 years maturity segment translates into opportunity to earn reasonable accrual as well as potential capital appreciation.

24

months and above

ICICI Prudential Income Plan ICICI Prudential Gilt Fund Investment Plan PF Option

Positive view on interest rates in the medium term pronounces possibil- ity of earning potential capital appreciation in the scheme.

ICICI Prudential Short Term Plan and ICICI Prudential Regular Savings Fund may be considered for short to medium term investment horizon. ICICI Prudential Long Term Gilt Fund, ICICI Prudential Income Plan and ICICI Prudential Dynamic Bond Fund may be considered for medium- to long-term investment horizon.

 

INDEX

Fund Name

Brief Description

Page No.

ICICI Prudential Dynamic Plan

Conservative Flexi-cap Opportunities Fund

 

6

ICICI Prudential Focused Bluechip Equity Fund

Focused Large Cap Fund

 

7

ICICI Prudential Discovery Fund

Diversified Value Style Investing Fund

 

8

ICICI Prudential Infrastructure Fund

Thematic Fund encompassing Infrastructure

 

9

ICICI Prudential Tax Plan

Open Ended Equity Linked Savings Scheme

10

ICICI Prudential Top 100 Fund

Diversified Large Cap Oriented Fund

11

ICICI Prudential Top 200 Fund

Blend of Large & Mid Cap Equity

12

ICICI Prudential US Bluechip Equity Fund

International Equity Scheme investing in Companies listed on the US Stock Markets

13

ICICI Prudential Global Stable Equity Fund

Open ended Fund of Funds Scheme investing in overseas mutual fund schemes which invest in stable companies globally

14

ICICI Prudential Indo Asia Equity Fund

Blend of Indian & Asian Equities (through an International Fund) Fund

15

ICICI Prudential Midcap Fund

Diversified Mid-Cap Oriented Fund

16

ICICI Prudential Target Returns Fund (Open Ended Diversified Equity Fund. There is no guarantee or assurance of returns.)

Large Cap Oriented Fund based on Asset Allocation Trigger

17

ICICI Prudential Exports and Other Services Fund

Services Industry Oriented Thematic Fund

18

ICICI Prudential Banking & Financial Services Fund

Banking & Financial Services Sector Oriented Fund

19

ICICI Prudential Technology Fund

Technology Sector Oriented Fund

20

ICICI Prudential FMCG Fund

FMCG Sector Oriented Fund

21

ICICI Prudential Child Care Plan (Gift)

Diversified Very Long Term Child Benefit Oriented Plan

22

ICICI Prudential Index Fund

Nifty Index Fund

23

ICICI Prudential Nifty Junior Index Fund

Index Fund

24

SENSEX Prudential ICICI Exchange Traded Fund

Exchange Traded Sensex Fund

25

ICICI Prudential Nifty ETF

Exchange Traded Nifty Fund

26

ICICI Prudential CNX 100 ETF

Exchange Traded CNX 100 ETF

27

ICICI Prudential R.I.G.H.T (Rewards of investing & generation of healthy tax savings) Fund

Closed Ended ELSS

28

ICICI Prudential Value Fund - Series 1

Close ended equity scheme

29

ICICI Prudential Value Fund - Series 2

Close ended equity scheme

30

ICICI Prudential Value Fund - Series 3

Close ended equity scheme

31

ICICI Prudential Equity Savings Fund Series 1

Close ended RGESS qualifying equity scheme

32

ICICI Prudential Blended Plan - Plan A

Equity Arbitrage Fund

33

ICICI Prudential Balanced Advantage Fund

Volatility Management Equity Oriented Fund

34

ICICI Prudential Equity - Arbitrage Fund

Equity Arbitrage Fund

35

ICICI Prudential Balanced Fund

Balanced Fund

36

ICICI Prudential Child Care Plan (Study)

Child Benefit Oriented Plan

37

ICICI Prudential MIP 25 (An open ended Income fund. Monthly income is not assured and is subject to the availability of distributable surplus.)

Hybrid Fund with maximum 30% in Equity

38

ICICI Prudential Monthly Income Plan (An open ended income fund. Monthly income is not assured and is subject to the availability of distributable surplus.)

Hybrid Fund with maximum 15% in Equity

39

ICICI Prudential MIP 5

(An open ended income fund. Monthly

   

income is not assured and is subject to the availability of distributable surplus.)

Hybrid Fund with maximum 10% in Equity

40

ICICI Prudential Money Market Fund

Open Ended Money Market Fund

41

ICICI Prudential Liquid Plan

Open Ended Liquid Fund

42

ICICI Prudential Flexible Income Plan

Conservative Ultra Short Term Income Fund

43

ICICI Prudential Savings Fund

Ultra Short Term Income Fund

44

ICICI Prudential Blended Plan - Plan B

Debt Oriented Fund

45

ICICI Prudential Banking & PSU Debt Fund

Ultra Short Term Income Fund predominantly investing in Banking & PSU Debt

46

ICICI Prudential Ultra Short Term Plan

Aggressive Ultra Short Term Income Fund

47

ICICI Prudential Short Term Plan

Short Term Income Fund

48

ICICI Prudential Long Term Plan

Short Term Income Fund

49

ICICI Prudential Regular Savings Fund

Retail Debt Savings Fund

50

ICICI Prudential Corporate Bond Fund

Medium Term Income Fund

51

ICICI Prudential Income Opportunities Fund

Long Term Income Fund

52

ICICI Prudential Income Plan

Long Term Income Fund

53

ICICI Prudential Dynamic Bond Fund

Actively Managed Medium Term Income Fund

54

ICICI Prudential Short Term Gilt Fund

Short Term Gilt Fund

55

ICICI Prudential Long Term Gilt Fund

Medium to Long Term Gilt Fund

56

ICICI Prudential Gilt Fund Treasury Plan PF Option

Short Term Gilt Fund

57

ICICI Prudential Gilt Fund Investment Plan PF Option

Medium to Long Term Gilt Fund

58

ICICI Prudential Gold Exchange Traded Fund

Gold Exchange Traded Fund

59

ICICI Prudential Regular Gold Savings Fund

Open Ended Fund of Funds Scheme investing in Gold ETF

60

ICICI Prudential Fixed Maturity Plans

Fixed Maturity Plans

61

- 93

ICICI Prudential Interval Funds

Interval Funds

94

- 99

ICICI Prudential Multiple Yield Fund

Close ended Debt Fund

100

- 113

ICICI Prudential Capital Protection Oriented Fund

Close ended Capital Protection Oriented Fund

114

- 127

ICICI Prudential Advisor Series

Fund of Funds Scheme

128

- 129

Annexure for Returns of all the Schemes

 

130

- 133

Systematic Investment Plan (SIP) Performance of Select Schemes

134

- 136

Annexure - I

137

Annexure - II

138

Dividend History for all Schemes

 

139

- 147

Statutory Details & Risk Factors

 

148

5
5

ICICI Prudential Dynamic Plan

Open Ended Diversified Equity Fund

Style Box

This Product is suitable for investors who are seeking*: • Long term wealth creation solution
This Product is suitable for investors who are seeking*:
• Long term wealth creation solution
• A diversified equity fund that aims for growth by investing in equity and debt (for
defensive considerations)
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
HIGH RISK
(BROWN)

Returns of Regular Plan - Growth Option as on Mar 31, 2014

Particulars   March 31, 2013 to March 31, 2014   March 31, 2012 to March

Particulars

 

March 31, 2013 to March 31, 2014

 

March 31, 2012 to March 31, 2013

March 31, 2011 to March 31, 2012

 

Since inception

 
Absolute Returns (%) Absolute Returns (%) Absolute Returns (%) Current Value of Investment of Rs.

Absolute Returns (%)

Absolute Returns (%)

Absolute Returns (%)

Current Value of Investment of Rs. 10000

CAGR (%)

Scheme

 

29.87

 

4.17

   

-2.85

 

143568.60

 

26.27

CNX NIFTY Index   17.98   7.31   -9.23   70466.68   18.64

CNX NIFTY Index

 

17.98

 

7.31

 

-9.23

 

70466.68

 

18.64

Fund Details

NAV (Rs.) Per Unit (as on Mar 31 ,2014 : 143.5686)

 

110.55

 

106.13

 

109.25

 

10.00

 

Fund Managers** :

     

Sankaran Naren (Managing this fund since Feb, 2012 & Overall 23 years of experience) Mittul Kalawadia (Managing this fund since Feb, 2012 & Overall 7 years of experience)

Past performance may or may not be sustained in future and the same may not necessarily provide the basis for comparison with other investment. Date of inception:31-Oct-02. Performance of dividend option would be Net of Dividend distribution tax, if any. Benchmark is CNX NIFTY Index. For computation of since inception returns (%) the allotment NAV has been taken as Rs. 10.00. Load is not considered for computation of returns. In case, the start/end date of the concerned period is a nonbusiness date (NBD), the NAV of the previous date is considered for computation of returns. The NAV per unit shown in the table is as on the start date of the said period.

Total Schemes managed by Mr. Sankaran Naren is 5 (5 are jointly managed) and Mr. Mittul Kalawadia is 3 (3 are jointly managed). Refer annexure on page no. 130 for performance of schemes currently managed by fund managers.

Indicative Investment Horizon: 5 years and above

Inception date: 31-10-2002

 

Portfolio as on March 31,2014

 
   

AAUM as on 31-Mar-14 : Rs. 3,670.40 crores

Company/Issuer

Rating

% to

% to NAV

Company/Issuer

 

Rating

% to

% to NAV

NAV Derivatives

 

NAV Derivatives

 

Auto Maruti Suzuki India Ltd. Auto Ancillaries Balkrishna Industries Ltd.

 

0.53%

   

UPL Ltd. Petroleum Products Reliance Industries Ltd. Bharat Petroleum Corporation Ltd.

 

0.83%

 

NAV (As on 31-Mar-14):

Regular Plan Growth Option : 143.5686 Regular Plan Dividend Option : 19.2212 Direct Plan Growth Option : 144.7106 Direct Plan Dividend Option : 19.3795

0.53%

2.14%

3.41%

1.78%

1.04%

1.63%

Motherson Sumi Systems Ltd.

0.74%

Pharmaceuticals Cipla Ltd. Dr. Reddy’s Laboratories Ltd. Divi’s Laboratories Ltd. Torrent Pharmaceuticals Ltd. Power Power Grid Corporation Of India Ltd. NTPC Ltd. SJVN Ltd. Kalpataru Power Transmission Ltd. Services Aditya Birla Nuvo Ltd. Software Infosys Ltd. Oracle Financial Services Software Ltd. Infotech Enterprises Ltd. Wipro Ltd. Mindtree Ltd. Tata Consultancy Services Ltd. Tech Mahindra Ltd. Telecom - Services Bharti Airtel Ltd. Tata Communications Ltd. Textiles - Cotton Vardhman Textiles Ltd. Textiles - Synthetic JBF Industries Ltd.

 

5.54%

0.36%

1.94%

Plans : Regular & Direct

Exide Industries Ltd. Banks ICICI Bank Ltd. HDFC Bank Ltd. State Bank Of India Standard Chartered PLC - IDR Bank Of Baroda Axis Bank Ltd. Union Bank Of India Allahabad Bank Cement ACC Ltd. Birla Corporation Ltd.

16.56%

5.50%

3.81%

3.60%

1.42%

1.10%

0.53%

0.36%

0.25%

2.98%

1.71%

0.87%

0.40%

1.79%

Options :

Growth & Dividend

1.36%

0.45%

Application Amount for fresh Subscription :

11.57%

7.48%

2.33%

Rs.5,000 (plus in multiples of Re.1)

0.97%

Min.Addl.Investment :

0.80%

Rs.1,000 (plus in multiples of Re.1)

0.58%

Exit load for Redemption / Switch out :- Lumpsum & SIP / STP / SWP Investment Option Upto 12 Months from allotment - 1% of applicable NAV, more than 12 Months - Nil

 

-0.27%

0.58%

 

13.45%

6.94%

1.78%

Grasim Industries Ltd.

 

-0.27%

1.53%

Grasim Industries Ltd.-Futures Construction Puravankara Projects Ltd. Texmaco Infrastructure & Holdings Ltd. Construction Project Larsen & Toubro Ltd. Fertilisers Coromandel International Ltd. Gujarat Narmada Valley Fertilizers & Chemicals Ltd. Finance Max India Ltd. Power Finance Corporation Ltd. Kalyani Investment Company Ltd. Gas Petronet LNG Ltd. Industrial Capital Goods Texmaco Rail & Engineering Ltd. Bharat Electronics Ltd. Industrial Products Electrosteel Castings Ltd. Media & Entertainment Jagran Prakashan Ltd. Prime Focus Ltd. Minerals/Mining NMDC Ltd. Coal India Ltd. Non - Ferrous Metals Hindustan Zinc Ltd. Oil Oil India Ltd. Oil & Natural Gas Corporation Ltd. Cairn India Ltd. Pesticides

0.42%

0.22%

0.20%

3.03%

3.03%

0.78%

0.53%

0.25%

1.75%

0.89%

0.55%

0.30%

1.22%

1.22%

0.90%

0.52%

0.37%

0.13%

0.13%

0.70%

0.39%

0.31%

1.98%

1.19%

0.79%

1.03%

1.03%

2.44%

1.08%

1.07%

0.29%

0.83%

 

0.98%

0.77%

SIP :

0.75%

Monthly: Minimum Rs. 1,000/- plus 5 post dated cheques for a minimum of Rs. 1,000/- each; Quarterly: Minimum Rs. 5,000/- plus 3 post dated cheques of Rs. 5,000/- each.

0.69%

2.04%

1.02%

1.01%

0.49%

SWP :

0.49%

Minimum of Rs.500 and multiples of

Re1/-

0.17%

0.17%

STP :

STP In : Available

Trading Redington (India) Ltd. Transportation The Great Eastern Shipping Company Ltd.

0.50%

0.50%

3.30%

Min.Redemption Amt. :

2.53%

Rs.500 & in multiples thereof

Gateway Distriparks Ltd. Adani Ports and Special Economic Zone Ltd. ABG Infralogistics Ltd. Government Securities Short Terms @

0.35%

 

0.33%

0.09%

17.06%

1.84%

8.12% GOI 2020 Long Term @ 1.44% GOI IIB 2023 8.28% GOI 2027

 

SOV

1.84%

 

15.22%

 

SOV

6.97%

SOV

5.75%

8.24% GOI 2027 Short Term Debt and other current assets

SOV

2.51%

4.76%

 

Total Net Assets

 

100.00%

 

Top Ten Holdings Derivatives are considered at exposure value.

 

@

Short Term < 8 Years ,Long Term >8 Years

 

Quantitative Indicators

Average P/E : 14.07

Average P/BV : 2.58

Average Dividend Yield : 1.89

Annual Portfolio Turnover Ratio : 1.05 times

Std Dev (Annualised) : 16.17%

Sharpe Ratio : 0.10

Portfolio Beta : 0.85

 

R squared : 0.86

 

Portfolio turnover has been computed as the ratio of the lower value of average purchase and average sales, to the average net assets in the past one year (since inception for schemes that have not completed a year). The figures are not netted for derivative transactions. Risk-free rate based on the last 91-day T-Bill cut-off of 8.855%. **In addition to the fund manager managing this fund, the ADR/GDR exposure is managed by Mr. Ashwin Jain.

6
6

ICICI Prudential Focused Bluechip Equity Fund

Open Ended Equity Scheme

This Product is suitable for investors who are seeking*: • Long term wealth creation solution
This Product is suitable for investors who are seeking*:
• Long term wealth creation solution
• A focused large cap equity fund that aims for growth by investing in
companies in the large cap category
*Investors should consult their financial advisers if in doubt about whether the
product is suitable for them.
HIGH RISK
(BROWN)

Style Box

 

Returns of Regular Plan - Growth Option as on Mar 31, 2014

 
Particulars   March 31, 2013 to March 31, 2014     March 31, 2012 to

Particulars

 

March 31, 2013 to March 31, 2014

   

March 31, 2012 to March 31, 2013

March 31, 2011 to March 31, 2012

Since inception

 

Absolute Returns (%)

Absolute Returns (%)

Absolute Returns (%)

Current Value of Investment of Rs. 10000

 

CAGR (%)

Scheme

 

22.55

 

8.28

-3.66

21630.00

   

14.08

CNX NIFTY Index

 

17.98

 

7.31

-9.23

13553.28

   

5.33

 

NAV (Rs.) Per Unit (as on Mar 31 ,2014 : 21.63)

 

17.65

 

16.30

16.92

 

10.00

 

Fund Details

     

Fund Managers** :

Past performance may or may not be sustained in future and the same may not necessarily provide the basis for comparison with other investment. Date of inception: 23-May-08. Performance of dividend option would be Net of Dividend distribution tax, if any.Benchmark is CNX NIFTY Index. For computation of since inception returns (%) the allotment NAV has been taken as Rs. 10.00. Load is not considered for computation of returns. In case, the start/end date of the concerned period is a nonbusiness date (NBD), the NAV of the previous date is considered for computation of returns. The NAV per unit shown in the table is as on the start date of the said period.

Manish Gunwani (Managing this fund from Jan 2012 & Overall 17 years of experience)

Indicative Investment Horizon: 5 years and above

Total Schemes managed by the Fund Manager is 5. Refer annexure on page no. 130 for performance of schemes currently managed by Mr. Manish Gunwani (fund manager).

Inception date: 23-05-2008

AAUM as on 31-Mar-14: Rs. 4,891.77 crores

 

Portfolio as on March 31,2014

 

NAV (As on 31-Mar-14):

Regular Plan Growth Option : 21.6300 Regular Plan Dividend Option : 17.9400 Direct Plan Growth Option : 21.8300 Direct Plan Dividend Option : 20.8400

 

Company/Issuer

Rating

% to

% to NAV

Company/Issuer

 

Rating

% to

% to NAV

 

NAV Derivatives

 

NAV Derivatives

 

Auto Maruti Suzuki India Ltd. Tata Motors Ltd. - DVR Auto Ancillaries Motherson Sumi Systems Ltd. Banks

 

6.03%

   

Hindustan Zinc Ltd. Oil Oil & Natural Gas Corp. Ltd. Petroleum Products Reliance Industries Ltd. Hindustan Petroleum Corp. Ltd.

 

1.35%

3.86%

2.27%

Plans : Regular & Direct

2.18%

2.27%

Options :

4.70%

5.62%

Growth & Dividend

4.70%

4.10%

Application Amount for fresh Subscription :

Rs.5,000 (plus in multiples of Re.1)

25.91%

1.52%

HDFC Bank Ltd. ICICI Bank Ltd.

 

8.94%

Pharmaceuticals

 

6.44%

 

7.70%

   

2.65%

 
 

Min.Addl.Investment :

 

Dr. Reddy’s Laboratories Ltd. Lupin Ltd. Cipla Ltd. Power Power Grid Corp. Of India Ltd. Services Aditya Birla Nuvo Ltd. Software Infosys Ltd. Tech Mahindra Ltd. Wipro Ltd. HCL Technologies Ltd. Tata Consultancy Services Ltd. Telecom - Services Bharti Airtel Ltd.

 

Rs.1,000 (plus in multiples of Re.1)

Kotak Mahindra Bank Ltd. State Bank Of India Axis Bank Ltd. Cement Grasim Industries Ltd. Grasim Industries Ltd.-Futures Construction Project Larsen & Toubro Ltd. Consumer Durables

 

4.69%

   

1.98%

Exit load for Redemption / Switch out :- Lumpsum & SIP / STP / SWP Investment Option Upto 1 Year from allotment - 1% of appli- cable NAV, more than 1 Year - Nil

3.38%

1.81%

1.20%

2.21%

1.80%

-0.15%

2.21%

1.80%

1.62%

SIP :

 

-0.15%

1.62%

Monthly: Minimum Rs. 1,000/- plus 5 post dated cheques for a minimum of Rs. 1,000/- each; Quarterly: Minimum Rs. 5,000/- plus 3 post dated cheques of Rs. 5,000/- each.

 

3.41%

 

14.16%

 

3.41%

 

6.33%

1.29%

2.73%

Titan Company Ltd. Consumer Non Durables ITC Ltd. Nestle India Ltd. Ferrous Metals

 

1.29%

2.14%

SWP :

7.74%

1.68%

Rs.500 and in multiples of Re. 1/-

6.53%

1.28%

STP :

STP In : Available

1.21%

1.00%

1.02%

1.02%

Min.Redemption Amt. :

 

1.00%

 

Rs. 500 and in multiples of Re. 1/-

 

Steel Authority Of India Ltd. Finance Power Finance Corporation Ltd. Mahindra & Mahindra Financial

   

CPs and CDs Indian Overseas Bank

 

3.27%

 

2.13%

-0.53%

ICRA A1+ 3.27%

 

1.14%

Units of Mutual Funds ICICI Prudential CNX 100 ETF Short Term Debt and other current assets

 

0.45%

 

0.45%

Services Ltd.

0.52%

 

2.72%

Mahindra & Mahindra Financial Services Ltd.-Futures HDFC Ltd. Gas Petronet LNG Ltd. Minerals/Mining Coal India Ltd. NMDC Ltd. Sesa Sterlite Ltd. Non - Ferrous Metals

   

Total Net Assets

 

100.00%

 
 

-0.53%

Top Ten Holdings

 
 

0.46%

Derivatives are considered at exposure value.

 

2.03%

 

2.03%

3.50%

1.51%

1.07%

0.93%

1.35%

Quantitative Indicators

 

Average P/E : 19.03

 

Average P/BV : 3.98

 

Average Dividend Yield : 1.25

Annual Portfolio Turnover Ratio : 0.40 times

Std Dev (Annualised) : 15.54%

Sharpe Ratio : 0.03

 

Portfolio Beta : 0.87

R squared : 0.97

 

Portfolio turnover has been computed as the ratio of the lower value of average purchase and average sales, to the average net assets in the past one year (since inception for schemes that have not completed a year). The figures are not netted for derivative transactions. Risk-free rate based on the last 91-day T-Bill cut-off of 8.855%. **In addition to the fund manager managing this fund, the ADR/GDR exposure is managed by Mr. Ashwin Jain.

7
7

ICICI Prudential Discovery Fund

Open Ended Diversified Equity Scheme

Style Box

This Product is suitable for investors who are seeking*: • Long term wealth creation solution
This Product is suitable for investors who are seeking*:
• Long term wealth creation solution
• A diversified equity fund that aims to generate returns by investing in stocks with
attractive valuations
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
HIGH RISK
(BROWN)

Returns of Regular Plan - Growth Option as on Mar 31, 2014

 

Particulars

 

March 31, 2013 to March 31, 2014

March 31, 2012 to March 31, 2013

March 31, 2011 to March 31, 2012

Since inception

2013 March 31, 2011 to March 31, 2012 Since inception Absolute Returns (%) Absolute Returns (%)

Absolute Returns (%)

Absolute Returns (%)

Absolute Returns (%)

Current Value of Investment of

CAGR

(%)

Rs.10000

Scheme

 

28.35

 

11.29

0.12

68810.00

22.18

Benchmark

 

16.36

 

-4.02

-4.09

41765.03

16.01

 

CNX NIFTY Index

 

17.98

 

7.31

-9.23

41923.52

16.05

Fund Details

NAV (Rs.) Per Unit (as on Mar 31 ,2014 : 68.81)

 

53.61

 

48.17

 

48.11

10.00

 

Fund Managers** :

Mrinal Singh (Managing this fund since Feb 2011 & Overall 11 years of experience)

Past performance may or may not be sustained in future and the same may not necessarily provide the basis for comparison with other investment. Date of inception:16-Aug-04 . Performance of dividend option would be Net of Dividend distribution tax, if any. Benchmark is CNX Midcap Index. For computation of since inception returns (%) the allotment NAV has been taken as Rs. 10.00. Load is not considered for computation of returns. In case, the start/end date of the concerned period is a nonbusiness date (NBD), the NAV of the previous date is considered for computation of returns. The NAV per unit shown in the table is as on the start date of the said period.

Indicative Investment Horizon: 5 years and above

Total Schemes managed by the Fund Manager is 3 (Excludes FoF Schemes). Refer annexure on page no. 130 for performance of schemes currently managed by Mr. Mrinal Singh (fund manager).

Inception date: 16-08-2004

 

Portfolio as on March 31,2014

 

AAUM as on 31-Mar-14: Rs. 3,037.62 crores

 

Company/Issuer

Rating

% to NAV

Company/Issuer

 

Rating

% to NAV

NAV (As on 31-Mar-14):

 

Auto Maruti Suzuki India Ltd. Auto Ancillaries Amara Raja Batteries Ltd. Exide Industries Ltd. Balkrishna Industries Ltd. Banks ICICI Bank Ltd. State Bank Of India Karur Vysya Bank Ltd. Union Bank Of India ING Vysya Bank Ltd. Allahabad Bank

 

2.35%

Bharat Heavy Electricals Ltd. Bharat Electronics Ltd. Voltamp Transformers Ltd. Triveni Turbine Ltd. Texmaco Rail & Engineering Ltd. Elecon Engineering Company Ltd. Industrial Products Bharat Forge Ltd. Timken India Ltd. Pesticides PI Industries Ltd. UPL Ltd. Petroleum Products

1.73%

Regular Plan Growth Option : 68.8100 Regular Plan Dividend Option : 21.4700 Direct Plan Growth Option : 69.4100 Direct Plan Dividend Option : 26.4700

2.35%

1.37%

9.32%

0.95%

3.52%

0.89%

3.25%

0.43%

Plans : Regular & Direct

2.55%

0.36%

 

19.41%

2.74%

Options :

Growth & Dividend

4.93%

2.22%

3.28%

0.52%

Application Amount for fresh Subscription :

2.21%

5.05%

1.89%

3.40%

Rs.5,000 (plus in multiples of Re.1)

1.85%

1.65%

Min.Addl.Investment :

Rs.1,000 (plus in multiples of Re.1)

1.62%

6.07%

Punjab National Bank

1.55%

5.55%

   

0.93%

0.30%

 

Oriental Bank Of Commerce City Union Bank Ltd. Axis Bank Ltd. Cement Birla Corporation Ltd. Prism Cement Ltd. Orient Cement Ltd. Chemicals Rain Industries Ltd. Construction BL Kashyap & Sons Ltd. Construction Project Voltas Ltd. Sadbhav Engineering Ltd. Consumer Durables Blue Star Ltd. Consumer Non Durables Balrampur Chini Mills Ltd. Diversified Consumer Services Career Point Ltd. Ferrous Metals Usha Martin Ltd. Godawari Power & Ispat Ltd. Finance Max India Ltd. Bajaj Holdings & Investment Ltd. Power Finance Corporation Ltd. Gas GAIL (India) Ltd. Petronet LNG Ltd. Gujarat State Petronet Ltd. Industrial Capital Goods

Reliance Industries Ltd. Hindustan Petroleum Corporation Ltd. Indian Oil Corporation Ltd. Pharmaceuticals Natco Pharma Ltd. Torrent Pharmaceuticals Ltd. Power Power Grid Corporation Of India Ltd. Kalpataru Power Transmission Ltd. Software Mindtree Ltd. Persistent Systems Ltd. eClerx Services Ltd. Oracle Financial Services Software Ltd. Nucleus Software Exports Ltd. Infotech Enterprises Ltd. Textile Products Siyaram Silk Mills Ltd. Textiles - Cotton Vardhman Textiles Ltd. Transportation Gujarat Pipavav Port Ltd. The Great Eastern Shipping Company Ltd.

Exit load for Redemption / Switch out :- Lumpsum & SIP / STP / SWP Investment Option Upto 12 Months from allotment - 1% of applicable NAV, more than 12 Months - Nil

0.58%

0.22%

0.56%

3.89%

2.62%

2.38%

1.32%

1.51%

0.71%

2.14%

0.59%

1.77%

SIP :

1.36%

0.37%

Monthly: Minimum Rs. 1,000/- plus 5 post dated cheques for a minimum of Rs. 1,000/- each; Quarterly: Minimum Rs. 5,000/- plus 3 post dated cheques of Rs. 5,000/- each.

1.36%

9.52%

0.08%

2.75%

0.08%

2.02%

5.00%

1.76%

2.52%

1.60%

SWP :

2.49%

0.80%

Minimum of Rs.500 and multiples of

1.13%

0.58%

Re.1/-

1.13%

0.16%

STP :

0.98%

0.16%

STP In : Available

0.98%

1.04%

Min.Redemption Amt. :

Rs.500 & in multiples thereof

0.25%

0.25%

1.04%

7.08%

1.33%

2.61%

 

0.87%

2.43%

0.46%

Adani Ports and Special Economic Zone Ltd. Container Corporation Of India Ltd. CPs and CDs

1.12%

4.17%

0.92%

1.82%

2.22%

1.25%

Indian Overseas Bank

ICRA A1+

2.22%

1.10%

Short Term Debt and other current assets

1.73%

4.64%

Total Net Assets

 

100.00%

1.96%

Top Ten Holdings

 

1.86%

0.82%

 

5.72%

Quantitative Indicators

 

Average P/E : 14.25

 

Average P/BV : 2.40

Average Dividend Yield : 1.76

Annual Portfolio Turnover Ratio : 0.39 times

Std Dev (Annualised) : 18.31%

Sharpe Ratio : 0.26

Portfolio Beta : 0.80

 

R squared : 0.89

 

Portfolio turnover has been computed as the ratio of the lower value of average purchase and average sales, to the average net assets in the past one year (since inception for schemes that have not completed a year). The figures are not netted for derivative transactions. Risk-free rate based on the last 91-day T-Bill cut-off of 8.855%. **In addition to the fund manager managing this fund, the ADR/GDR exposure is managed by Mr. Ashwin Jain.

8
8

ICICI Prudential Infrastructure Fund

Open Ended Equity Fund

This Product is suitable for investors who are seeking*: • Long term wealth creation solution
This Product is suitable for investors who are seeking*:
• Long term wealth creation solution
• An equity fund that aims for growth by primarily investing in securities of companies
belonging to infrastructure and allied sectors.
*Investors should consult their financial advisers if in doubt about whether the product is suitable for
them.
HIGH RISK
(BROWN)
 

Style Box

 

Returns of Regular Plan - Growth Option as on Mar 31, 2014

 
Particulars   March 31, 2013 to March 31, 2014     March 31, 2012 to

Particulars

 

March 31, 2013 to March 31, 2014

   

March 31, 2012 to March 31, 2013

March 31, 2011 to March 31, 2012

Since inception

   
   
   
   
   

Absolute Returns (%)

Absolute Returns (%)

Absolute Returns (%)

Current Value of Investment of Rs. 10000

CAGR (%)

Scheme

 

15.87

 

-2.42

-15.39

28470.00

12.96

Benchmark

 

18.34

 

-11.93

 

-18.45

15021.25

4.85

           
           
           
 

CNX NIFTY Index

 

17.98

 

7.31

-9.23

28113.98

12.79

 

Fund Details

         

Fund Managers** :

NAV (Rs.) Per Unit (as on Mar 31 ,2014 : 28.47)

 

24.57

 

25.18

29.76

10.00

 

Yogesh Bhatt (Managing this fund since Feb, 2012 & Overall 21 years of experience)

Past performance may or may not be sustained in future and the same may not necessarily provide the basis for comparison with other investment. Date of inception:31-Aug-05. Performance of dividend option would be Net of Dividend distribution tax, if any. Benchmark is CNX Infrastructure Index. For computation of since inception returns (%) the allotment NAV has been taken as Rs. 10.00. Load is not considered for computation of returns. In case, the start/end date of the concerned period is a nonbusiness date (NBD), the NAV of the previous date is considered for computation of returns. The NAV per unit shown in the table is as on the start date of the said period.

Indicative Investment Horizon: 5 years and above

Inception date: 31-08-2005

Total Schemes managed by the Fund Manager is 6. Refer annexure on page no. 130 for performance of schemes currently managed by Mr. Yogesh Bhatt (fund manager).

AAUM as on 31-Mar-14: Rs. 1,208.62 crores

 

Portfolio as on March 31,2014

 
 

Company/Issuer

 

Rating

% to

% to NAV Derivatives

 

Company/Issuer

 

Rating

% to

% to NAV

 

NAV (As on 31-Mar-14):

 

NAV

 

NAV Derivatives

Regular Plan Growth Option : 28.4700 Regular Plan Dividend Option : 11.4700 Direct Plan Growth Option : 28.6800 Direct Plan Dividend Option : 11.5600

 

Banks ICICI Bank Ltd. State Bank Of India HDFC Bank Ltd. Bank Of Baroda ING Vysya Bank Ltd. Cement

Birla Corporation Ltd.

 

24.03%

   

Non - Ferrous Metals Hindustan Zinc Ltd. Oil Oil India Ltd. Petroleum Products Reliance Industries Ltd. Hindustan Petroleum Corporation Ltd.

Power

1.96%

6.36%

1.96%

 

6.21%

0.92%

Plans : Regular & Direct

5.94%

0.92%

Options :

3.05%

5.67%

Growth & Dividend

2.47%

3.07%

Application Amount for fresh Subscription :

Rs.5,000 (plus in multiples of Re.1)

3.84%

2.37%

2.60%

11.57%

   

1.29%

3.84%

 
 

Min.Addl. Investment :

Grasim Industries Ltd. JK Lakshmi Cement Ltd. Construction Project Larsen & Toubro Ltd. Sadbhav Engineering Ltd. Voltas Ltd. Techno Electric & Engineering Co. Ltd. Consumer Durables Blue Star Ltd. Ferrous Metals Usha Martin Ltd. Electrosteel Steels Ltd.

0.18%

 

Power Grid Corporation Of India Ltd. Kalpataru Power Transmission Ltd. NTPC Ltd. PTC India Ltd. Jaiprakash Power Ventures Ltd. Tata Power Company Ltd. Telecom - Services Bharti Airtel Ltd. Idea Cellular Ltd. Transportation Gujarat Pipavav Port Ltd. Gateway Distriparks Ltd.

3.24%

Rs.1,000 (plus in multiples of Re.1)

Exit load for Redemption / Switch out :- Lumpsum & SIP / STP / SWP Invest- ment Option Upto 1 Year from allotment - 1% of ap- plicable NAV, more than 1 Year - Nil

12.32%

2.18%

8.94%

1.45%

1.54%

0.81%

1.31%

0.05%

SIP :

0.52%

11.35%

0.35%

9.62%

Monthly: Minimum Rs. 1,000/- plus 5 post dated cheques for a minimum of Rs. 1,000/- each; Quarterly: Minimum Rs. 5,000/- plus 3 post dated cheques of Rs. 5,000/- each.

0.35%

1.74%

2.10%

5.63%

1.85%

2.33%

SWP :

0.26%

1.26%

Minimum of Rs.500 and multiples of

Industrial Capital Goods

 

4.50%

 

3.09%

Container Corporation Of India Ltd.

1.09%

 

Re.1/-

   

1.93%

   

0.95%

 

STP :

Crompton Greaves Ltd. Texmaco Rail & Engineering Ltd. Triveni Turbine Ltd.

     

STP In : Available

1.65%

   

Adani Ports and Special Economic Zone Ltd. CPs and CDs

3.80%

 

Min.Redemption Amt. :

Rs.500 & in multiples thereof

0.77%

Piramal Enterprises Ltd.

ICRA A1+ 3.80%

Bharat Heavy Electricals Ltd.

 

0.15%

 

Short Term Debt and other current assets

2.06%

   
 

Bharat Heavy Electricals Ltd.-Futures Industrial Products Cummins India Ltd. Minerals/Mining Sesa Sterlite Ltd. Gujarat Mineral Development Corp. Ltd. Coal India Ltd.

 

3.09%

 

Total Net Assets

 

100.00%

2.94%

 

Top Ten Holdings Derivatives are considered at exposure value.

 

2.94%

3.87%

 

2.87%

0.55%

0.44%

Quantitative Indicators

 

Average P/E : 15.25

 

Average P/BV : 2.22

 

Average Dividend Yield : 1.50

Annual Portfolio Turnover Ratio : 0.23 times

Std Dev (Annualised) : 21.63%

Sharpe Ratio : -0.37

 

Portfolio Beta : 0.76

 

R squared : 0.89

 
 

Portfolio turnover has been computed as the ratio of the lower value of average purchase and average sales, to the average net assets in the past one year (since inception for schemes that have not completed a year). The figures are not netted for derivative transactions. Risk-free rate based on the last 91-day T-Bill cut-off of 8.855%. **In addition to the fund manager managing this fund, the ADR/GDR exposure is managed by Mr. Ashwin Jain.

9
9

ICICI Prudential Tax Plan

Open Ended Equity Linked Saving Scheme

This Product is suitable for investors who are seeking*: • Long term wealth creation solution
This Product is suitable for investors who are seeking*:
• Long term wealth creation solution
• An Equity Linked Savings Scheme that aims to generate long term capital appreciation by
primarily investing in equity and related securities.
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
HIGH RISK
(BROWN)

Style Box

 

Returns of Regular Plan - Growth Option as on Mar 31, 2014

 
Particulars   March 31, 2013 to March 31, 2014 March 31, 2012 to March 31,

Particulars

 

March 31, 2013 to March 31, 2014

March 31, 2012 to March 31, 2013

March 31, 2011 to March 31, 2012

Since inception

 
 
 
 

51%

Absolute Returns (%)

Absolute Returns (%)

Absolute Returns (%)

Current Value of Investment of Rs. 10000

CAGR (%)

Scheme

 

29.01

 

6.70

-3.61

186980.00

22.17

 

Benchmark

 

17.72

 

5.13

-8.75

54292.62

12.26

CNX NIFTY Index

 

17.98

 

7.31

 

-9.23

49845.35

 

11.61

Fund Details

Fund Managers** :

NAV (Rs.) Per Unit (as on Mar 31 ,2014 : 186.98)

 

144.94

 

135.84

 

140.93

 

10.00

       

Chintan Haria (Managing this fund since May. 2011 & Overall 8 years of experience)

Past performance may or may not be sustained in future and the same may not necessarily provide the basis for comparison with other investment. Date of inception:19-Aug-99. Performance of dividend option would be Net of Dividend distribution tax, if any. Benchmark is CNX 500 Index . For computation of since inception returns (%) the allotment NAV has been taken as Rs. 10.00. Load is not considered for computation of returns. In case, the start/end date of the concerned period is a nonbusiness date (NBD), the NAV of the previous date is considered for computation of returns. The NAV per unit shown in the table is as on the start date of the said period.

Indicative Investment Horizon: 5 years and above

Inception date: 19-08-1999

Total Schemes managed by the Fund Manager is 3 (2 are jointly managed). Refer annexure on page no. 130 for performance of schemes currently managed by Mr.Chintan Haria (fund manager).

AAUM as on 31-Mar-14: Rs. 1,565.42 crores

 

Portfolio as on March 31,2014

 
 

Company/Issuer

Rating

% to

 

Company/Issuer

 

Rating

% to

NAV (As on 31-Mar-14):

 

NAV

 

NAV

Regular Plan Growth Option : 186.9800 Regular Plan Dividend Option : 19.1300 Direct Plan Growth Option : 188.5900 Direct Plan Dividend Option : 22.3000

 

Auto Maruti Suzuki India Ltd. Banks HDFC Bank Ltd. ICICI Bank Ltd. State Bank Of India

 

1.16%

 

Minerals/Mining NMDC Ltd.

 

3.51%

1.16%

2.45%

15.11%

1.06%

 

4.39%

 

3.02%

Plans : Regular & Direct

   

MOIL Ltd. Non - Ferrous Metals Hindustan Zinc Ltd. Hindalco Industries Ltd.

 

3.94%

3.02%

Options :

3.04%

0.00%

Growth & Dividend

Allahabad Bank

1.22%

Oil

5.65%

         

0.98%

   

3.01%

 

Application Amount for fresh Subscription :

Rs.500 (plus in multiples of Re.1)

Axis Bank Ltd. Karur Vysya Bank Ltd. Oriental Bank Of Commerce Cement The Ramco Cements Ltd. Commercial Services Nesco Ltd. Construction Texmaco Infrastructure & Holdings Ltd. Construction Project Larsen & Toubro Ltd. Consumer Durables Blue Star Ltd. HSIL Ltd. Consumer Non Durables Balrampur Chini Mills Ltd. Ferrous Metals Tata Steel Ltd. Finance Repco Home Finance Ltd. Max India Ltd. IDFC Ltd. Kalyani Investment Company Ltd. Gas Gujarat State Petronet Ltd.

0.89%

Oil India Ltd. Oil & Natural Gas Corporation Ltd. Cairn India Ltd. Petroleum Products Reliance Industries Ltd. Bharat Petroleum Corporation Ltd. Indian Oil Corporation Ltd. Pharmaceuticals Cipla Ltd. Divi’s Laboratories Ltd. Unichem Laboratories Ltd. Dr. Reddy’s Laboratories Ltd. Sun Pharmaceutical Industries Ltd. Torrent Pharmaceuticals Ltd. Power Power Grid Corporation Of India Ltd. NTPC Ltd. SJVN Ltd. Software Infosys Ltd. Tata Consultancy Services Ltd. Tech Mahindra Ltd. Oracle Financial Services Software Ltd. Infotech Enterprises Ltd. Telecom - Services

1.50%

0.65%

1.15%

0.69%

5.05%

Min.Addl.Investment :

0.69%

3.82%

Rs.500 & in multiples thereof

1.52%

0.74%

Exit load for Redemption / Switch out :- Lumpsum & SIP / STP Investment Option Nil

1.52%

0.49%

0.37%

8.95%

0.37%

2.82%

1.04%

1.72%

 

1.04%

1.37%

 

SIP :

2.94%

1.20%

Monthly : Minimum of Rs.500 or mul- tiples thereof & 5 post - dated cheques for a minimum of Rs.500/- for a block of 5 months in advance Quarterly : Minimum Rs. 5000 + 3 post - dated cheques of Rs. 5000/- each.

1.75%

1.01%

1.19%

0.83%

0.66%

7.84%

0.66%

3.44%

0.92%

3.38%

 

0.92%

1.01%

 

SWP :

3.35%

12.22%

Not Available

1.57%

6.95%

STP :

0.93%

1.63%

Minimum Amount Rs. 1,000/- Maximum Period: 10 years :

0.72%

1.47%

0.14%

1.47%

STP In : Available

3.07%

0.70%

Min.Redemption Amt. :

Rs.500 & in multiples thereof

 

1.63%

3.02%

Petronet LNG Ltd.

1.45%

Bharti Airtel Ltd.

 

2.05%

   

5.86%

 

0.97%

 

Industrial Capital Goods Bharat Electronics Ltd. Texmaco Rail & Engineering Ltd. Bharat Heavy Electricals Ltd. Industrial Products Polyplex Corporation Ltd. Styrolution ABS (India) Ltd. Sintex Industries Ltd. Media & Entertainment Prime Focus Ltd.

 

3.38%

Idea Cellular Ltd. Textiles - Cotton Precot Meridian Ltd. Transportation The Great Eastern Shipping Company Ltd. CPs and CDs Indian Overseas Bank Short Term Debt and other current assets

 

0.09%

1.59%

0.09%

0.88%

2.20%

3.60%

2.20%

1.70%

5.83%

1.21%

ICRA A1+ 5.83%

0.69%

 

2.04%

0.29%