ICICI Pru Large Cap Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

ICICI Pru Large Cap Fund Direct Growth Plan has a NAV of ₹118.9 as of 04 Sep 2026 and a scheme AUM of ₹80,960 Cr. Its 1-year, 3-year and 5-year returns are -1.44%, 11.83% and 11.75%, and the fund sits in the High Risk category.

Our view is that this is a large-cap equity fund for investors who can tolerate sharp periods of underperformance in exchange for potential long-term equity participation. The longer-term return pattern is steadier than the 1-year outcome, but the recent run has been uneven, so it fits better as a holding for a long horizon than for short-term capital preservation.

Quick facts

The fund is managed by Sankaran Naren, Vaibhav Dusad and Sharmila Dsilva.

Source data date: as of 04 Sep 2026

Performance

The recent picture is mixed, but not weak across the board. The 1-month return is slightly better than the benchmark, while the 3-month figure is also ahead, which suggests the fund has recovered some ground after a choppy stretch.

The 1-year return is still negative, but it is less severe than the benchmark’s decline. That matters because it shows the fund has handled the last year better than the index, even if the absolute outcome is still below zero.

Over 3 years and 5 years, the fund’s returns are comfortably above the benchmark. That longer-run gap tells us the fund has compounded more effectively than Nifty 50 over these periods, even though the path has not been smooth.

From the time pattern, we can see phases of drawdown and recovery rather than a straight line higher. For investors, that usually means the fund may reward patience, but the short-term behaviour can still look volatile relative to the smoother narrative of the longer horizon.

Source data date: as of 04 Sep 2026

Peer comparison

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

The fund’s 1-year return trails every peer listed here, while the 3-year and 5-year figures sit below the strongest longer-term peer numbers available. The contrast is important: the fund’s medium- and long-term track record is still respectable, but the current 1-year stretch is clearly softer than the peer set’s positive recent outcomes.

That means the short-term and longer-term peer comparisons tell different stories. In the shorter window, the fund has lagged badly because the peers have positive 1-year returns; over longer windows, the gap narrows, and the fund still shows a workable compounding record against several of these schemes.

Source data date: as of 04 Sep 2026

Portfolio: where your money goes

The top 10 holdings account for approximately 47.44% of the portfolio.

To see all holdings, visit the ICICI Pru Large Cap Fund Direct Growth Plan page

ICICI Bank and HDFC Bank together form a large part of the visible portfolio, and the biggest single position is 9.14%. The drop from the first holding to the tenth is noticeable, but not extreme, which suggests the fund is not dependent on just one or two names.

At the same time, the visible book is still fairly concentrated. The top 10 positions make up 47.44% of assets, while the full disclosed list contains 52 holdings, so the remaining weight is spread across a broader tail of smaller positions that may cushion single-stock impact.

That mix can matter for investors who want a large-cap style with meaningful individual-company exposure, rather than a very broad, index-like spread. The heavier weights in banks and other large businesses may influence returns more than the smaller positions, but the longer tail still provides diversification beyond the headline holdings.

Source data date: as of 04 Sep 2026

Who should invest

This fund suits investors who can handle High Risk equity swings and are comfortable with uneven shorter-term outcomes. The 3-year and 5-year returns point to a stronger long-term story than the last year, so a patient horizon matters more than a quick outcome.

The main trade-off is that the fund has offered better longer-run compounding than the benchmark, but with a choppier recent phase and a portfolio that still carries meaningful stock-specific exposure. It fits better for someone seeking large-cap equity participation over several years, while accepting that returns may move around materially in the meantime.

Tax and exit load

Exit load: 1% on or before 1Y, NIL after 1Y.

Source data date: as of 04 Sep 2026

Frequently asked questions

What is the current NAV of ICICI Pru Large Cap Fund Direct Growth Plan?

The current NAV is ₹118.9 as of 04 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?

The 1-year return is -1.44%, the 3-year return is 11.83% and the 5-year return is 11.75%.

How does the fund compare with its benchmark?

It has outpaced the benchmark over 3 years and 5 years, and its 1-year decline is smaller than the benchmark’s. The recent 1-month and 3-month numbers are also slightly better than the benchmark.

How does it compare with the listed peer funds?

The fund’s 1-year return is weaker than the listed peers, while its 3-year and 5-year figures are still solid but below the stronger long-term peer numbers shown here.

What is the minimum SIP amount?

The minimum SIP amount is ₹100.

Who manages the fund and what is the exit load?

The fund is managed by Sankaran Naren, Vaibhav Dusad and Sharmila Dsilva. The exit load is 1% on or before 1Y, and NIL after 1Y.

Bottom line

This fund’s recent return pattern is weaker than its longer-term track record, which tells us the latest stretch has been more uneven than the 3-year and 5-year picture. Against the benchmark and the listed peers, the fund still shows reasonable long-run compounding, but the latest year has clearly lagged the more positive peer outcomes. Its High Risk profile and meaningful position concentration mean it is best viewed as a long-horizon large-cap equity holding rather than a steadier short-term parking place.

Published on 5 September 2026 at 4:05 PM IST