Skip to main content

ICICI Prudential MIP 25 Fund

 

ICICI Prudential MIP 25 Fund is a debt-oriented hybrid fund that primarily invests in debt instruments, with a maximum allowable exposure in equity of up to 30 per cent of the total net assets. The fund was launched in March 2004 and has average assets of `750 crore under management for the quarter ended September.

The fund, managed by Avnish Jain (debt) and Mrinal Singh (Equity), has ranked in the top 30 percentile (Crisil fund rank two) of the monthly income plan (MIP)-aggressive category in the Crisil mutual fund ranking over the last six quarters. The consistency in ranking indicates a blend of consistent performance and disciplined portfolio management.

INVESTMENT PHILOSOPHY

The fund seeks to generate regular income through dividends, along with capital appreciation through a minority investment in equity. At the same time, investors must note that regular dividends are not assured and it is subject to the availability of distributable surplus.

Crisil classifies MIP funds as aggressive and conservative, based on equity allocation. A higher allocation to equity (1530 per cent) is classified as aggressive, and a lower allocation (up to 15 per cent) as conservative. Within the stated allocation, a fund manager may alter a portfolio's exposure based on the prevailing market scenario. ICICI Prudential MIP 25 Fund has been categorised as 'MIP Aggressive'.

PERFORMANCE

The fund has outperformed its benchmark (Crisil MIPEX) and peers across time frames, viz., six months, one year and three years. Over a three-year period, the fund has delivered annualised returns of over 14 per cent, as against a category average of 10.80 per cent for the same period and 10.48 per cent by the benchmark.

Further, an investment of 1,000 in the fund since April 2, 2004 would have grown to 2,000 till date. The same amount invested in a peer group would have returned `1,843, and in the benchmark `1,644.

ACTIVE MANAGEMENT

The fund manager has actively managed the portfolio over the last five years. As compared to peers, the fund has been more aggressive in increasing its duration when interest rates had fallen, and decreasing the maturity of its papers when these rose. As a rule of thumb, when long-term yields fall, the prices of bond securities rise, and bond-portfolio managers increase the maturity of portfolio. The reverse is also true. The exposure in equity and equity-related instruments over the last three years averaged 24 per cent and has varied between 18 and 30 per cent.

The manager has actively managed the equity component in response to the markets, based on attractiveness of valuations. Over the last five years, the fund has increased its exposure during down-market cycles and decreased it during up-market.

REGULAR DIVIDENDS

Barring October and November in 2008 during the global credit crisis, the fund has paid dividends in 46 out of 48 months.

Thus, it has been consistent in terms of dividend pay-outs. The average monthly dividend yield was 0.5 per cent over the same period.

ASSET QUALITY

Majority of the portfolio is invested in the highest-rated debt papers. During the last three years, 81 per cent of the debt portfolio on an average was invested in the highest-rated debt securities i.e. sovereign, AAA/P1+ and equivalent.
 

Popular posts from this blog

ICICI Pru Mutual Fund Dividend

ICICI Prudential Mutual Fund has announced dividend under the following schemes: Scheme Dividend ( Rs /unit) ICICI Pru Capital Protection Oriented Ser V Plan B-D 0.03611325 ICICI Pru Capital Protection Oriented Ser V Plan B Direct-D 0.03611325 ICICI Pru Balanced Advantage Direct-DM 0.06 The record date has been fixed as February 08, 2017. ------------------------------ ------ Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds Top 4 Tax Saver Mutual Funds for 2017 - 2018 Best 4 ELSS Mutual Funds to invest in India for 2017 1. DSP BlackRock Tax Saver Fund 2. Invesco India Tax Plan 3. Tata India Tax Savings Fund 4. BNP Paribas Long Term Equity Fund Invest in Best Performing 2017 Tax Saver Mutual Funds Online Invest Best Tax Saver Mutual Funds Online Download Top Tax Saver Mutual Funds  Application Forms For further information contact  SaveTaxGetRich on 94 8300 8300 ------------------------------ ------ Leave y...
Read more

What is Financial Freedom?

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India)     There were many things common between our Freedom fighters. All had the Single vision (Free India), common goal (independence) and had a disciplined and focused approach. They were ready to do anything and everything and had made so many sacrifices to see India free . But the road to freedom was not easy .They had faced lot many hardships, went to jail so many times and even confronted physical and mental torture from the British. There was one more thing which proved to be an advantage to our fighters that most of them were professional lawyers. The knowledge of legal issues and its impact on our country at large has helped them counter various bills and proposed new laws by the then government. It is due to their continuous effort that we are able to achieve the goal of Independent Indi...
Read more

Hidden Bank Fees

  What Banks Hide From Customers Imagine after a peaceful and exciting holiday you receive your bank statement with steep charges. You then rush to your bank and start confronting staff members and to your dismay, you come to know that the high end debit card was charged very heavily. Wouldn't this cause damage to your finances? So remember, the world outside is full of deceptive and double cheating people. Unethical practices are always used by company sales person in order to meet the target. Credit card companies, mutual funds and bank institutions always play dirty tricks to lure customers and the practices are rampant. So here's how you should be careful while dealing with your banks: High End Debit Card Charges While opening an account with a bank you opt for a debit card with minimal charges. But later on when you upgrade your card and opt for high end debit card the annual charge rise by a good amount. Though such a card has slew of features but it all comes at a high ...
Read more

Updating a minor PAN card upon becoming adults

  Updating a minor's PAN card once they become adults A PAN card issued in the name of a minor does not contain the minor's photograph or signature, and therefore, cannot be used as a valid proof of identity. Once a minor PAN card holder turns 18, the relevant changes must be made in the PAN records. A new card is then issued bearing a photograph and signature. Application The applicant is required to fill up the "Request for new PAN card andor changes or correction in PAN data" form. The form can be filled up online by accessing NSDL's Tax Information Network website and clicking on the online PAN application tab. Information The applicant must mention the existing PAN number in the application and check the `photo mismatch' and `signature mismatch' boxes, and submit the online form. The form must also be printed out, signed by the applicant, and submitted along with two photographs. Documents Identity and address proof in the form of a copy of the app...
Read more

Partial withdrawal from PPF

  Public Provident Fund (PPF) account has a lock in period   If you opened a PPF account to meet your retirement needs,, think twice about withdrawing from this fund before retirement. But provided it's an emergency here are the rules. Public Provident Fund (PPF) account has a lock in period before which you cannot withdraw your money.   The partial withdrawal is allowed after the completion of 6 financial years . This means that you will be allowed a partial withdrawal from 1 April 2017. The maximum partial withdrawal allowed is the least of the following: 50 percent of the account balance at the end of fourth financial year, 31 March 15 50 percent of the account balance of the end of previous financial year, 31 March 17.   There's a loan option available on your PPF account between the fourth and the sixth financial year. You can obtain a loan of up to 25 per cent of the balance in your account. However, this will attract interest of 2 percent more than the prevailing ...
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now