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HOW HAS THE ICICI Prudential Value Discovery Fund PERFORMED?
With a 10-year return of 15.26%, the fund has delivered twice the category average return (7.84%) and 2.5-times the benchmark return (6.34%).
With a 10-year return of 15.26%, the fund has delivered twice the category average return (7.84%) and 2.5-times the benchmark return (6.34%).
This value-driven fund has changed colours considerably over the past few years. While retaining its multicap approach, it has shifted from focusing on the mid-cap segment to taking a heavy large-cap tilt. It has cut down the portfolio size from around 60 stocks in May 2015 to just over 40 now, even as the ICICI Prudential Value Discovery Fund corpus has ballooned.
This is in response to the stretched valuations in the small- and mid-cap space, and a sharper focus on relative valuations for picking stocks. Since opportunities in the largecap space are comparatively limited, the portfolio has also contracted.
This is in response to the stretched valuations in the small- and mid-cap space, and a sharper focus on relative valuations for picking stocks. Since opportunities in the largecap space are comparatively limited, the portfolio has also contracted.
ICICI Prudential Value Discovery Fund has struggled recently as its strict emphasis on value puts it at odds with the momentum driven rally in the market. But its track record suggests that this approach bears good results over the long term.
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