ICICI Pru MNC Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 16, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
ICICI Pru MNC Fund Direct Growth Plan is an equity fund with a current NAV of ₹32.61 as of 11 Sep 2026 and an AUM of ₹1,807 Cr. Its 1-year, 3-year and 5-year returns are 4.89%, 9.95% and 11.72%, and the fund sits in the High Risk category.
Our view is that the fund suits investors who are comfortable with sharp equity swings and want a portfolio built around multinational companies. The longer-term return pattern is stronger than the benchmark, but the recent 1-year stretch has been softer, so the case for the fund depends more on patience than on near-term momentum.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹32.61 as of 11 Sep 2026 |
| AUM | ₹1,807 Cr |
| Expense Ratio | 1.08% |
| Launch Date | 17 Jun 2019 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | 1% on or before 12M, Nil after 12M |
| Fund Managers | Roshan Chutkey |
The fund is managed by Roshan Chutkey.
Source data date: as of 11 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -4.57% | -4.81% |
| 3M | 0.52% | -3.63% |
| 1Y | 4.89% | -8.27% |
| 3Y | 9.95% | 5.59% |
| 5Y | 11.72% | 5.58% |
The fund’s recent path has been uneven. Over 1 month, it declined, but the fall was slightly less severe than the benchmark’s drop, which suggests the portfolio has not been immune to market weakness but has held up a little better in that brief window.
The 3-month outcome is more encouraging because the fund turned positive while the benchmark stayed negative. That points to a sharper short-term rebound than the index, even though the move is not large enough to describe as a sustained rerating.
The bigger picture is more important here. The 3-year and 5-year numbers both sit well above the benchmark, and that tells us the fund has created more value over fuller market cycles than the index has. Still, the gap between a softer 1-year outcome and a stronger 3-year and 5-year trend shows that the fund can go through periods where returns do not move in a straight line.
For investors, that mix matters: the fund has historically rewarded patience, but recent behaviour reminds us that the ride can be choppy. Its compounding pattern looks stronger over multiple years than over the most recent year, so short holding periods may not capture what this portfolio is built to deliver.
Source data date: as of 11 Sep 2026
Should you BUY or HOLD ICICI Pru MNC?
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 MNC? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| ICICI Pru MNC Fund Direct Growth Plan | 4.89% | 9.95% | 11.72% |
| ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan | 69.16% | 37.12% | Data not available |
| HDFC Pharma and Healthcare Fund Direct Growth Plan | 27.47% | Data not available | Data not available |
| SBI Automotive Opportunities Fund Direct Growth Plan | 27.05% | Data not available | Data not available |
| Kotak Healthcare Fund Direct Growth Plan | 26.51% | Data not available | Data not available |
| Motilal Oswal Active Momentum Fund Direct Growth Plan | 25.46% | 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 recent 1-year measure, this fund trails the strongest peer returns in the list by a wide margin, even though it remains positive. The longer-term picture is more balanced: its 3-year and 5-year returns are stronger than the peer data available for the comparison set that reports those horizons, but several peers do not disclose longer horizons in this slice, so the table is better read as a directional comparison than a complete league.
The useful takeaway is that this fund appears built more for steadier multi-year compounding than for chasing the sharpest short-term bursts. That is consistent with the way its benchmark comparison and portfolio profile line up, and it also explains why the recent year looks weaker than the broader history.
Source data date: as of 11 Sep 2026
Want to know more? Log in to Univest for more mutual fund insights.
Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| Hindustan Unilever Ltd. | FMCG | 6.99% |
| Maruti Suzuki India Ltd. | Automobile & Ancillaries | 5.67% |
| Britannia Industries Ltd. | FMCG | 4.94% |
| Nestle India Ltd. | FMCG | 4.94% |
| Sona BLW Precision Forgings Ltd. | Automobile & Ancillaries | 4.5% |
| Sun Pharmaceutical Industries Ltd. | Healthcare | 4.2% |
| Hyundai Motor India Ltd. | Automobile & Ancillaries | 3.86% |
| Vedanta Aluminium Metal Ltd. | Non – Ferrous Metals | 3.81% |
| DR. Reddy’S Laboratories Ltd. | Healthcare | 3.48% |
| United Spirits Ltd. | Alcohol | 3.14% |
The largest holding, Hindustan Unilever Ltd., stands at 6.99%, which is meaningful but not overwhelming on its own. The weight then steps down gradually rather than collapsing after the top name, and the tenth holding still carries 3.14%, so the portfolio does not rely on a single position to drive the story.
The displayed top 10 holdings together account for approximately 45.53% of the portfolio, and the fund discloses 48 holdings in total. That suggests a fairly broad tail beyond the biggest names, even though the top end is still influential. In our view, the structure may reduce dependence on just a few stocks while still leaving the portfolio meaningfully shaped by its larger positions.
Because the exposures are spread across consumer, automobile and healthcare names, the portfolio may behave differently from a broad index-heavy equity fund. The mix is not highly concentrated in one sector bucket within the visible holdings, but the larger weights are still likely to have greater influence on near-term returns than the smaller positions.
To see all holdings, visit the ICICI Pru MNC Fund Direct Growth Plan page
Source data date: as of 11 Sep 2026
Who should invest
This fund is better suited to investors who can tolerate High Risk and stay invested for at least three to five years. The 3-year and 5-year return pattern is stronger than the benchmark, but the recent 1-year result shows that shorter periods can look much less rewarding.
The main trade-off is between access to a portfolio of multinational companies and the possibility of uneven short-term performance. Investors who want a smoother experience may find the recent volatility uncomfortable, while those who value patient compounding and can handle equity drawdowns may find the profile more suitable.
The portfolio’s visible holdings also suggest a tilt toward established consumer, healthcare and automobile names, which can support quality bias but does not remove market risk. This makes the fund more relevant for long-term equity allocation than for near-term capital needs.
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 on or before 12 months; nil after 12 months.
Source data date: as of 11 Sep 2026
Frequently asked questions
What is the current NAV of ICICI Pru MNC Fund Direct Growth Plan?
Its current NAV is ₹32.61 as of 11 Sep 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year, 3-year and 5-year returns are 4.89%, 9.95% and 11.72%.
How does it compare with the benchmark?
It is ahead of the Nifty 50 over 3 years and 5 years, and it also stayed positive over 1 year while the benchmark was negative.
How does it compare with the peer funds listed here?
Its 1-year return is lower than the strongest peer figures shown, but its 3-year and 5-year outcomes are stronger than the peer data available for those horizons in this comparison set.
Is there an exit load?
Yes. Exit load is 1% if units are sold on or before 12 months, and nil after 12 months.
Who manages the fund?
Roshan Chutkey manages the fund.
Bottom line
ICICI Pru MNC Fund Direct Growth Plan has a more mixed recent stretch than its longer-term record, with a softer 1-year outcome but stronger 3-year and 5-year returns. Against the benchmark, the longer horizon looks clearly better, while the peer comparison shows the fund is not chasing the sharpest short-term spikes. The portfolio is anchored by established companies across consumer, automobile and healthcare names, so it may appeal to patient investors who can accept High Risk in exchange for steadier multi-year compounding.
Published on 16 September 2026 at 1:06 PM IST
Explore mutual funds with Univest
Review mutual fund data, compare performance and explore fund insights on Univest.
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.