ICICI Pru Conglomerate Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
ICICI Pru Conglomerate Fund Direct Growth Plan currently has an NAV of ₹10.06 as of 16 September 2026 and a scheme AUM of ₹817 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the fund sits in the High Risk category.
Our view is that this is a high-risk, concentrated equity strategy that has not yet built a return record and has also moved below the benchmark over the most recent periods. That makes it more relevant for investors who can accept early-stage uncertainty and want exposure to a focused portfolio rather than a steadier, more diversified outcome.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹10.06 as of 16 Sep 2026 |
| AUM | ₹817 Cr |
| Expense Ratio | 1.11% |
| Launch Date | 24 Oct 2025 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Exit Load | 1% on or before 12M, Nil after 12M |
| Fund Managers | Sri Sharma |
The fund is managed by Sri Sharma.
Source data date: as of 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -5.81% | -4.41% |
| 3M | -1.57% | -3.60% |
| 1Y | Data not available | Data not available |
| 3Y | Data not available | Data not available |
| 5Y | Data not available | Data not available |
The short-term picture is weak. The fund lost ground over both the 1-month and 3-month periods, and the recent 1-month move was more negative than the benchmark. That suggests the strategy has faced pressure in the latest stretch rather than showing a defensive pattern.
At the 3-month mark, the fund was still negative, but it held up better than the benchmark. That relative resilience matters, because it shows the portfolio did not fall as sharply as the index over that span even though the absolute return remained below zero.
The broader interpretation is more limited because the fund is very new and does not yet have meaningful 1-year, 3-year or 5-year return history. For now, the available record points to a volatile start rather than a stable compounding pattern, so we would treat the recent numbers as an early indicator rather than a mature performance profile.
The benchmark comparison also matters here. The fund has underperformed the benchmark over 1 month and outperformed it over 3 months, which tells us the relationship has not been one-way. In our view, that mix of outcomes is more consistent with a strategy that is still settling into its investment style than one with a long, established pattern.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD ICICI Pru Conglomerate?
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 Conglomerate? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| ICICI Pru Conglomerate Fund Direct Growth Plan | Data not available | Data not available | Data not available |
| Baroda BNP Paribas Gold ETF FoF Direct Growth Plan | 34.39% | Data not available | Data not available |
| HDFC Innovation Fund Direct Growth Plan | 14.3% | Data not available | Data not available |
| Bajaj Finserv Small Cap Fund Direct Growth Plan | 13.33% | Data not available | Data not available |
| Quant Equity Savings Fund Direct Growth Plan | 8.75% | Data not available | Data not available |
| Kotak Active Momentum Fund Direct Growth Plan | 6.31% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
On the available 1-year figures, this fund has no disclosed return yet, while the peer set shows positive numbers across all five comparison funds. That leaves a clear short-term gap versus the more established peer names in this table.
The longer horizon does not yet offer a direct comparison because 3-year and 5-year figures are not available for the fund or for these peers in the table. As a result, the short-term message is much clearer than the longer-term one: peers have an observable return track record, while this fund is still building one.
That makes the comparison less about relative standing and more about maturity. Investors can see that the fund is operating in a return field where others already have a measured 1-year record, but this scheme has not yet accumulated the same history.
Source data date: as of 16 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Mahindra & Mahindra Ltd. | Automobile & Ancillaries | 8.18% |
| CG Power and Industrial Solutions Ltd. | Capital Goods | 7.9% |
| Ultratech Cement Ltd. | Construction Materials | 6.31% |
| TVS Motor Company Ltd. | Automobile & Ancillaries | 4.51% |
| Apl Apollo Tubes Ltd. | Iron & Steel | 4.18% |
| Cholamandalam Investment and Finance Company Ltd. | Finance | 4.09% |
| JSW Steel Ltd. | Iron & Steel | 3.9% |
| Bajaj Finance Ltd. | Finance | 3.88% |
| TREPS | Cash & Cash Equivalents and Net Assets | 3.57% |
| Samvardhana Motherson International Ltd. | Automobile & Ancillaries | 3.55% |
The largest holding, Mahindra & Mahindra Ltd., carries an 8.18% weight, which is large enough to matter but not so large that it completely dominates the visible book. The top 10 holdings together account for approximately 50.07% of the portfolio.
The step-down from the first holding to the tenth is fairly gradual rather than abrupt, moving from 8.18% to 3.55%. That kind of spread may indicate that the fund is not relying on a single very large position, even though the first few names still have greater influence than the smaller entries.
Because the top 10 holdings make up just over half of the portfolio and 39 holdings are disclosed overall, the fund appears moderately concentrated at the top with a longer tail beneath it. In our view, that balance could create a mix of stock-specific influence from the largest names and diversification from the broader set of smaller positions.
To see all holdings, visit the ICICI Pru Conglomerate Fund Direct Growth Plan page
Source data date: as of 16 Sep 2026
Who should invest
This fund suits investors who can tolerate High Risk positioning and are comfortable with a strategy that is still in an early performance phase. The recent return pattern has been negative, and the benchmark comparison has been mixed, so the main fit is for someone who can stay patient through uneven short-term results.
A longer horizon would matter more here than a short one, because there is not yet a meaningful multi-year return history to lean on. The trade-off is straightforward: investors may get exposure to a focused portfolio of cyclical and industrial names, but they also need to accept a lack of established compounding evidence.
For conservative investors or anyone seeking smoother outcomes, the current profile is likely too uncertain. For investors who understand that this is a newly launched equity fund and can absorb volatility, the portfolio structure may be the more relevant part of the decision than the limited return history.
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% if units are sold within 12 months; no exit load after 12 months.
Source data date: as of 16 Sep 2026
Frequently asked questions
What is the current NAV of ICICI Pru Conglomerate Fund Direct Growth Plan?
Its NAV is ₹10.06 as of 16 September 2026.
What are the fund’s recent returns?
The fund’s 1-month return is -5.81% and its 3-month return is -1.57%. The 1-year, 3-year and 5-year returns are not available yet.
How has it behaved versus the benchmark?
It has lagged the benchmark over 1 month and done better than the benchmark over 3 months. That mixed pattern suggests the short-term path has not been steady.
How does it compare with the peer funds shown here?
The peer funds shown have positive 1-year returns, while this fund does not yet have a disclosed 1-year figure. That makes the current comparison one of history and maturity rather than a like-for-like long-term contest.
What is the minimum SIP amount?
The minimum SIP amount is ₹100.
Who manages the fund and what is the exit load?
Sri Sharma manages the fund. The exit load is 1% if units are sold within 12 months, and there is no exit load after 12 months.
Bottom line
ICICI Pru Conglomerate Fund Direct Growth Plan looks like an early-stage High Risk equity fund with a mixed short-term record and no established multi-year return history yet. It has underperformed the benchmark in the latest month but held up better over three months, which makes the recent picture uneven rather than clearly strong or weak. The portfolio is fairly top-heavy, with the largest holding carrying meaningful weight and the top 10 positions making up just over half of assets. That profile suits investors who can accept volatility and want a concentrated equity exposure.
Published on 17 September 2026 at 12:06 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.