ICICI Pru Medium to Long Term Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 10, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
ICICI Pru Medium to Long Term Fund Direct Growth Plan has a NAV of ₹45.0076 as of 09 Sep 2026 and an AUM of ₹2,048 Cr. Its 1-year, 3-year and 5-year returns are 5.36%, 7.34% and 6.4%, and the scheme sits in the Medium Risk category. Our view is that it suits investors who want a debt fund with moderate volatility and a steadier long-term profile rather than sharp short-term upside.
The fund’s longer horizon has been more stable than its near-term stretch, and the portfolio is anchored by government securities and select corporate debt. That mix supports a more conservative debt allocation, although the recent 1-year return is only slightly ahead of the benchmark while the 5-year figure remains modest.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹45.0076 as of 09 Sep 2026 |
| AUM | ₹2,048 Cr |
| Expense Ratio | 0.64% |
| Launch Date | 02 Jan 2013 |
| Min SIP | ₹1,000 |
| Risk Category | Medium Risk |
| Benchmark | Nifty 50 |
| Fund Category | Debt |
| Exit Load | No exit load |
| Fund Managers | Manish Banthia, Ritesh Lunawat |
The fund is managed by Manish Banthia and Ritesh Lunawat.
Source data date: as of 09 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -0.4% | -4.69% |
| 3M | 1.78% | 0.93% |
| 1Y | 5.36% | -7.16% |
| 3Y | 7.34% | 6% |
| 5Y | 6.4% | 5.87% |
The 1-month return was slightly negative, but it held up much better than the benchmark over the same stretch. Over 3 months, the fund improved more clearly than the benchmark, which points to a firmer near-term recovery.
The 1-year figure is the clearest strength in the recent profile. The fund delivered a positive 5.36% return while the benchmark was negative, so the scheme has protected capital better over that period and has also added value relative to the benchmark.
The longer view is steadier than explosive. The 3-year return of 7.34% is ahead of the benchmark’s 6%, and the 5-year return of 6.4% is also modestly ahead of 5.87%, which suggests the fund has managed to compound at a calm pace rather than through large swings.
The pattern across the periods is important. The short-term dip in 1 month did not break the broader recovery, and the 3-year and 5-year numbers indicate a fairly consistent debt-fund outcome. In our view, that makes the scheme more relevant for investors who value steadier participation than for those looking for fast return acceleration.
Source data date: as of 09 Sep 2026
Should you BUY or HOLD ICICI Pru Medium to Long Term?
A fund’s past returns alone don’t tell you whether you should buy it today or continue holding it.
The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.
Already holding ICICI Pru Medium to Long Term? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Franklin India Medium to Long Term Fund Direct Growth Plan | 5.58% | Data not available | Data not available |
| ICICI Pru Medium to Long Term Fund Direct Growth Plan | 5.36% | 7.34% | 6.4% |
| LIC MF Medium to Long Term Fund Direct Growth Plan | 5.32% | 7.42% | 6.31% |
| SBI Medium to Long Term Fund Direct Growth Plan | 5.23% | 7.03% | 6.26% |
| Kotak Medium to Long Term Fund Direct Growth Plan | 5.22% | 7.27% | 6.22% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the 1-year measure, the fund is close to the stronger peer figures, though Franklin India Medium to Long Term Fund Direct Growth Plan is slightly ahead. The 3-year and 5-year numbers are also competitive, with the fund holding up well against the better long-term results in the group. The short-term picture and the longer-term picture point in the same direction: the scheme is broadly in line with the stronger peer set, but not clearly separated from it.
Source data date: as of 09 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| 7.34% Government Securities | Government Securities | 8.95% |
| 6.9% Government Securities | Government Securities | 6.56% |
| TREPS | Cash & Cash Equivalents and Net Assets | 5.92% |
| 7.87% Summit Digitel Infrastructure Private Ltd. ** | Corporate Debt | 5.71% |
| 6.83% HDFC Bank Ltd. ** | Corporate Debt | 5.17% |
| 7.96% Pipeline Infrastructure Pvt Ltd. ** | Corporate Debt | 3.64% |
| 7.15% State Government of Maharashtra | Government Securities | 3.44% |
| 7.16% State Government of Maharashtra | Government Securities | 3.43% |
| 7.13% State Government of Maharashtra | Government Securities | 3.34% |
| 7.53% NABARD | Corporate Debt | 2.92% |
The largest holding is 7.34% Government Securities at 8.95%, which is meaningful but not dominant on its own. The next few positions are also sizable, but the tenth holding is down to 2.92%, so the weight distribution eases gradually rather than dropping sharply after one or two names.
The top 10 holdings account for approximately 49.08% of the portfolio, which suggests a balanced core rather than extreme concentration in a single security. At the same time, the disclosed portfolio includes 41 holdings, so the remaining positions may still matter for diversification even though they are not individually listed here.
Because the portfolio leans heavily into government securities, cash equivalents and corporate debt, the fund may behave more predictably than a higher-beta debt strategy. That structure can help limit reliance on a few credit exposures, although the named corporate positions still give the portfolio some spread across issuers and instruments.
To see all holdings, visit the ICICI Pru Medium to Long Term Fund Direct Growth Plan page
Source data date: as of 09 Sep 2026
Who should invest
This fund fits investors who are comfortable with a Medium Risk debt allocation and want a portfolio that has been relatively steady across 3-year and 5-year windows. The 1-year return has remained positive, and the benchmark comparison shows the scheme has generally held its ground rather than lagging materially.
The main trade-off is that the fund is unlikely to deliver dramatic upside, especially when compared with equity-oriented options. It can suit a longer holding period and a preference for calmer debt exposure, while still accepting that shorter stretches can move around a little.
Tax and exit load
| Holding period | Tax rate | Description |
|---|---|---|
| Units held less than 1 year | 20% | Short-term capital gains tax |
| Units held more than 1 year | 12.5% | Long-term capital gains tax |
Exit load: No exit load.
Source data date: as of 09 Sep 2026
Frequently asked questions
What is the current NAV of ICICI Pru Medium to Long Term Fund Direct Growth Plan?
The current NAV is ₹45.0076 as of 09 Sep 2026.
What are the 1-year, 3-year and 5-year returns?
The fund’s returns are 5.36% over 1 year, 7.34% over 3 years and 6.4% over 5 years.
How has the fund done versus its benchmark?
It has done better than the benchmark across the 1-month, 1-year, 3-year and 5-year periods shown here. The gap is most visible over 1 year, where the fund stayed positive while the benchmark was negative.
How does it compare with peer funds on available return data?
Its 1-year return of 5.36% is close to the peer group’s stronger figures, though Franklin India Medium to Long Term Fund Direct Growth Plan is slightly higher at 5.58%. Its 3-year and 5-year returns are also competitive within the available set.
What is the minimum SIP amount?
The minimum SIP amount is ₹1,000.
Who manages the fund and what is the exit load?
The fund is managed by Manish Banthia and Ritesh Lunawat. The exit load is nil, so no exit load applies on sale.
Bottom line
This fund’s recent performance is steadier than flashy, with the 1-year result staying positive and the 3-year and 5-year outcomes holding up slightly better than the benchmark. Against peers with available data, it remains broadly competitive without looking out of line in either the near term or the longer term.
The risk profile is Medium Risk, and the portfolio leans toward government securities, cash equivalents and corporate debt. That makes it more suitable for investors who want measured debt exposure and can stay invested long enough for the smoother compounding pattern to matter.
Published on 10 September 2026 at 2:09 PM IST
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RIA disclosure
Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.