ICICI Pru Medium 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 Term Fund Direct Growth Plan has a NAV of ₹53.8535 as of 09 Sep 2026 and manages ₹5,418 Cr of scheme assets. Its 1-year, 3-year and 5-year returns are 7.98%, 8.55% and 7.42%, and the fund sits in the Medium Risk category.
Our view is that this is a steady debt fund rather than a short-term income play. The return profile is broadly consistent across 1-year, 3-year and 5-year windows, and the portfolio is spread across government securities, corporate debt, REIT exposure and securitised debt, which can suit investors who want medium-duration debt exposure and can stay patient through periodic swings.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹53.8535 as of 09 Sep 2026 |
| AUM | ₹5,418 Cr |
| Expense Ratio | 0.74% |
| Launch Date | 23 Jan 2013 |
| Min SIP | ₹1,000 |
| Risk Category | Medium Risk |
| Benchmark | Nifty 50 |
| Fund Category | Debt |
| Exit Load | Nil upto 10% of units and 1% for Excess units on or before 1Y, Nil after 1Y |
| Fund Managers | Manish Banthia, Akhil Kakkar |
The fund is managed by Manish Banthia and Akhil Kakkar.
Source data date: as of 09 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | 0.21% | -4.69% |
| 3M | 2.33% | 0.93% |
| 1Y | 7.98% | -7.16% |
| 3Y | 8.55% | 6% |
| 5Y | 7.42% | 5.87% |
The recent numbers point to a fund that has held up well over the past year, even though the very short-term trend has been more modest. The 1-month return is positive while the benchmark was negative, and the 3-month figure is also ahead of the benchmark, which suggests the fund has been more resilient than the market over the latest stretch.
The longer view is also constructive. Over 3 years, the fund’s return of 8.55% is ahead of the benchmark’s 6%, and over 5 years it stays in front at 7.42% versus 5.87%. That gap matters because it shows the fund has not depended only on one strong calendar year.
The pattern across the time windows is fairly balanced rather than sharply cyclical. We do not see a dramatic step-up in performance, but we do see a consistent compounding profile that has remained above the benchmark in the medium and long term. For debt investors, that kind of steadiness is often more useful than isolated bursts of outperformance.
Recent behaviour is slightly softer than the 1-year outcome suggests, but it is still aligned with the broader trend. In our view, that makes the fund more suitable for investors who care about smoother medium-duration debt exposure than about chasing a quick one-period spike.
Source data date: as of 09 Sep 2026
Should you BUY or HOLD ICICI Pru Medium 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 Term? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| Aditya Birla SL Medium Term Fund Direct Growth Plan | 9.46% | 10.68% | 12.75% |
| ICICI Pru Medium Term Fund Direct Growth Plan | 7.98% | 8.55% | 7.42% |
| Kotak Medium Term Fund Direct Growth Plan | 7.76% | 9.07% | 7.46% |
| SBI Medium Term Fund Direct Growth Plan | 7.2% | 7.92% | 6.89% |
| Axis Medium Term Fund Direct Growth Plan | 7.18% | 8.47% | 7.39% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the latest 1-year figure, the fund sits behind the strongest peer in the set, but it is still comfortably ahead of the lower return names shown here. That places the recent outcome in a middle-to-strong zone without needing a ranking label.
Over 3 years and 5 years, the fund stays above SBI Medium Term Fund Direct Growth Plan and Axis Medium Term Fund Direct Growth Plan on the longer window comparisons shown here, while Kotak Medium Term Fund Direct Growth Plan is slightly ahead on 3 years. The widest gap appears against Aditya Birla SL Medium Term Fund Direct Growth Plan, which has stronger figures across all three periods. Short-term and long-term peer comparisons therefore tell a mixed story: the fund is competitive, but not the strongest in this peer set.
Source data date: as of 09 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Embassy Office Parks Reit | Finance | 3.62% |
| 8.7% Adani Enterprises Ltd. ** | Corporate Debt | 3.23% |
| 6.9% Government Securities | Government Securities | 3.18% |
| 9.4% Vedanta Ltd. | Corporate Debt | 3.15% |
| JTPM Metal Traders Ltd. ** | Corporate Debt | 2.98% |
| 8.6% Tata Projects Ltd. ** | Corporate Debt | 2.77% |
| 8.05% Oberoi Realty Ltd. ** | Corporate Debt | 2.76% |
| Siddhivinayak Securitisation Trust ** | PTC & Securitized Debt | 2.74% |
| 8.28% Oriental Nagpur Betul Highway Ltd. ** | Corporate Debt | 2.64% |
| 7.34% Government Securities | Government Securities | 2.63% |
The largest holding is Embassy Office Parks Reit at 3.62%, which is not large enough on its own to dominate the fund, but it can still influence day-to-day movement more than smaller positions. The tenth holding is 7.34% Government Securities at 2.63%, so the top 10 positions do not show an extreme drop from the first to the last, even though the first few rows are slightly larger.
The displayed holdings account for about 29.7% of the portfolio, and the fund has 57 disclosed holdings in total. That combination suggests the portfolio is spread across a fairly long tail rather than being concentrated in only a handful of positions. At the same time, the mix of REIT, government securities, corporate debt and securitised debt means individual credits may matter, but none of the top positions appears outsized enough to take over the whole portfolio on its own.
In our view, this structure could suit investors who want diversification within medium-duration debt, while still accepting that credit and security-specific movements may affect returns over shorter stretches. The allocation pattern looks measured rather than highly concentrated.
To see all holdings, visit the ICICI Pru Medium Term Fund Direct Growth Plan page
Source data date: as of 09 Sep 2026
Who should invest
This fund may suit investors who are comfortable with medium-risk debt exposure and want a horizon long enough to absorb periodic variation in returns. The 1-year, 3-year and 5-year pattern is steady rather than erratic, and the fund has stayed ahead of the benchmark over the 3-year and 5-year windows shown here.
The main trade-off is that investors get a relatively disciplined debt portfolio, but they also accept that returns can move unevenly over shorter periods. Compared with some peers, the fund is competitive but not clearly the strongest across every timeframe, so it is better suited to investors who value consistency and diversification over chasing the highest short-term number.
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 applies as nil up to 10% of units, and 1% for excess units on or before 1 year. There is no exit load after the holding period.
Source data date: as of 09 Sep 2026
Frequently asked questions
What is the current NAV of ICICI Pru Medium Term Fund Direct Growth Plan?
Its current NAV is ₹53.8535 as of 09 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 7.98% over 1 year, 8.55% over 3 years and 7.42% over 5 years.
How has it done versus the benchmark?
It has outperformed the benchmark across 1 month, 3 months, 1 year, 3 years and 5 years in the comparison shown here. The 1-year gap is especially wide because the benchmark is negative at -7.16% while the fund is positive at 7.98%.
How does it compare with peer medium-term funds?
Its recent and longer-term returns are competitive, but not the strongest in the peer set shown here. Aditya Birla SL Medium Term Fund Direct Growth Plan has higher 1-year, 3-year and 5-year figures, while Kotak Medium Term Fund Direct Growth Plan is slightly ahead on 3 years.
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 Akhil Kakkar. Exit load is nil up to 10% of units and 1% for excess units on or before 1 year, with no exit load after the holding period.
Bottom line
ICICI Pru Medium Term Fund Direct Growth Plan shows a steadier medium-term profile than its short-term moves alone might suggest. It has stayed ahead of the benchmark over the 3-year and 5-year windows, while its peer comparison shows a competitive but not dominant position. The risk category is Medium Risk, and the portfolio is diversified across 57 holdings with the top 10 accounting for about 29.7%. For investors looking for measured debt exposure rather than aggressive return chasing, that combination is worth noting.
Published on 10 September 2026 at 3:24 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.