To generate long-term capital appreciation from a portfolio that is invested predominantly in equity and equity related securities.
About Performance of the Scheme:
Icici Pru Top 100 is a large cap fund which aims to invests in the top 100 stocks of the index by market capitalization. Launched in 1998, it is a veteran in the mutual fund space. Beta of 0.85 suggests that the fund is not quite aggressive and will provide the investors the much needed support during down turns in the market. The fund has managed to beat the benchmark comprehensively in 1, 3, 5 as well as 10 year returns. It has an expense ratio of 2.3%.
Though it has a higher turnover, the fund has done exceptionally well in the past 1 year, outperforming most of the peers. It is also a great comeback for the fund since it was posting negative returns 9 months ago. The success of the fund can be attributed to the wit, wisdom and outstanding stock picking skills of the fund manager, Naren Sankaran. Top 5 stocks Power Grid, Airtel, HDFC Bank, Tata Chemicals and Coal India constitute about 33% of the portfolio.