ICICI Pru Focused Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 10, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
ICICI Pru Focused Fund Direct Growth Plan has a ₹108.41 NAV as of 09 Sep 2026 and a ₹17,948 Cr scheme AUM. Its 1-year, 3-year and 5-year returns are 1.78%, 16.46% and 15.65%, and the scheme carries a High Risk label.
Our view is that the fund has delivered a steadier long-term outcome than its muted one-year result suggests. The portfolio is fairly focused, with banking, IT, telecom, consumer and auto names among the largest positions, so the fund may suit investors who can accept sharper swings in return for concentrated equity exposure.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹108.41 as of 09 Sep 2026 |
| AUM | ₹17,948 Cr |
| Expense Ratio | 0.6% |
| Launch Date | 09 Jan 2013 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | 1% on or before 1Y, Nil after 1Y |
| Fund Managers | Vaibhav Dusad |
The fund is managed by Vaibhav Dusad.
Source data date: as of 09 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -3.87% | -4.69% |
| 3M | 5.38% | 0.93% |
| 1Y | 1.78% | -7.16% |
| 3Y | 16.46% | 6% |
| 5Y | 15.65% | 5.87% |
The fund has been choppy in the short run, but the latest month still held up better than the benchmark on a relative basis. Three months is where the fund started to separate itself, with a stronger gain than the NIFTY 50 over the same stretch.
The one-year picture is more modest in absolute terms, but it is still clearly better than the benchmark’s negative reading. That tells us the fund has navigated a difficult year better than the index, even if the absolute return is not especially strong for an equity scheme.
The three-year and five-year numbers matter more for a focused equity fund, and both are well ahead of the benchmark. Our view is that this pattern points to a strategy that has been able to compound reasonably well over full market cycles, even though the shorter window shows more unevenness.
The time pattern also suggests the fund has seen phases of stronger recovery after drawdowns rather than a smooth climb. That is consistent with a focused portfolio: returns can move around more from period to period, but the longer-term trend has stayed positive and has outpaced the benchmark by a wide margin over 3 and 5 years.
Source data date: as of 09 Sep 2026
Should you BUY or HOLD ICICI Pru Focused?
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 Focused? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| ICICI Pru Focused Fund Direct Growth Plan | 1.78% | 16.46% | 15.65% |
| Motilal Oswal Focused Fund Direct Growth Plan | 28.74% | 13.96% | 10.67% |
| Old Bridge Focused Fund Direct Growth Plan | 18.69% | Data not available | Data not available |
| ITI Focused Fund Direct Growth Plan | 14.02% | 18.86% | Data not available |
| Quant Focused Fund Direct Growth Plan | 13.36% | 13.41% | 13.91% |
| SBI Focused Fund Direct Growth Plan | 12.99% | 15.77% | 12.23% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
The fund’s one-year return trails Motilal Oswal Focused Fund Direct Growth Plan, Old Bridge Focused Fund Direct Growth Plan, ITI Focused Fund Direct Growth Plan, Quant Focused Fund Direct Growth Plan and SBI Focused Fund Direct Growth Plan over the same period, so the short-term picture is not the strongest among the comparables shown here. That said, the 3-year result is ahead of the available 3-year figures for Motilal Oswal, Quant and SBI, while the 5-year figure is ahead of the available 5-year figures for Motilal Oswal, Quant and SBI too. The short-term and longer-term comparisons therefore tell different stories: the recent year has been softer, but the multi-year record remains competitive.
Source data date: as of 09 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| ICICI Bank Ltd. | Bank | 9.18% |
| Axis Bank Ltd. | Bank | 6.25% |
| Mphasis Ltd. | IT | 5.34% |
| HDFC Bank Ltd. | Bank | 4.99% |
| TVS Motor Company Ltd. | Automobile & Ancillaries | 4.97% |
| Bharti Airtel Ltd. | Telecom | 3.85% |
| HDFC Asset Management Company Ltd. | Finance | 3.66% |
| Swiggy Ltd | Retailing | 3.62% |
| Britannia Industries Ltd. | FMCG | 3.41% |
| Ashok Leyland Ltd. | Automobile & Ancillaries | 3.25% |
The top 10 holdings account for approximately 48.52% of the portfolio.
To see all holdings, visit the ICICI Pru Focused Fund Direct Growth Plan page
ICICI Bank is the largest holding at 9.18%, which means it is likely to have greater influence on the fund than any other single position. The next few holdings step down fairly quickly, but not abruptly: Axis Bank and Mphasis are still meaningful positions, and then the weights move into the 4% to 3% range for the rest of the visible top 10.
That spread suggests the portfolio is not a one-stock strategy, yet it is still concentrated enough that a handful of names may matter more than the long tail. With 32 disclosed holdings and the top 10 accounting for 48.52%, the fund appears to balance focus with a broader base underneath. In practical terms, the visible holdings could help support diversification, but the largest positions may still drive a notable share of behaviour.
Source data date: as of 09 Sep 2026
Who should invest
This fund is better suited to investors who are comfortable with High Risk equity exposure and can stay invested for a longer horizon. The 1-year return is modest, but the 3-year and 5-year numbers show that the strategy has delivered much better outcomes over time, especially versus the benchmark.
Our view is that investors who can tolerate uneven short-term periods and focus on multi-year compounding may find the profile more relevant. The trade-off is clear: the portfolio can move around more because it is focused, but that same focus has also helped the fund stay ahead of the benchmark over longer periods.
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
1% on or before 1Y, Nil after 1Y.
Source data date: as of 09 Sep 2026
Frequently asked questions
What is the current NAV of ICICI Pru Focused Fund Direct Growth Plan?
The current NAV is ₹108.41 as of 09 Sep 2026.
What are the 1-year, 3-year and 5-year returns?
The 1-year, 3-year and 5-year returns are 1.78%, 16.46% and 15.65%.
How does the fund compare with the benchmark?
It has outpaced the NIFTY 50 over 3 years and 5 years, and it also held up better over 1 year.
How does it compare with the peer funds shown here?
Its 1-year return is below several peers shown here, but its 3-year and 5-year returns are competitive against the peers with available figures.
What is the minimum SIP amount?
The minimum SIP amount is ₹100.
Who manages the fund and what is the exit load?
Vaibhav Dusad manages the fund. The exit load is 1% on or before 1Y, and Nil after 1Y.
Bottom line
The fund’s short-term return has been uneven, but its 3-year and 5-year numbers show a stronger longer-term record than the latest year alone suggests. It has also stayed ahead of the benchmark across the longer periods, which supports the case for viewing it as a focused equity fund rather than a short-horizon idea. The portfolio is concentrated in a relatively small set of holdings, so investors need comfort with that style and with High Risk volatility.
Published on 10 September 2026 at 4:21 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.