ICICI Pru PSU Equity Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 17, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
ICICI Pru PSU Equity Fund Direct Growth Plan has a NAV of ₹22.55 as of 16 September 2026 and an AUM of ₹1,850 Cr. Its 1-year, 3-year and 5-year returns are 5.57%, 19.87% and 0% respectively, and the fund is tagged as High Risk. Our view is that it suits investors who are comfortable with sharper swings and want a PSU-led equity strategy whose medium-term record is better than its recent short-term stretch.
The fund has moved unevenly over the latest periods, while the benchmark has been weaker over the same horizons. That makes the fund interesting as a differentiated equity allocation, but the return pattern is still uneven enough that a long horizon matters.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹22.55 as of 16 Sep 2026 |
| AUM | ₹1,850 Cr |
| Expense Ratio | 0.87% |
| Launch Date | 12 Sep 2022 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Equity |
| Exit Load | 1% on or before 1M, Nil after 1M |
| Fund Managers | Antariksha Banerjee |
The fund is managed by Antariksha Banerjee.
Source data date: as of 16 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -2.93% | -4.41% |
| 3M | -2.72% | -3.6% |
| 1Y | 5.57% | -7.76% |
| 3Y | 19.87% | 5.74% |
| 5Y | Data not available | Data not available |
The fund has been softer over the last one and three months, which tells us the recent phase has not been smooth. Even so, it has fallen less than the benchmark in both windows, so the near-term backdrop is still comparatively better than the index.
The 1-year figure is the clearest sign of strength. The fund has delivered a positive return while the benchmark has been negative, which points to meaningful outperformance over that horizon. That also suggests the portfolio has not simply tracked the market in a passive way.
The 3-year record is stronger still. The fund’s 19.87% return is well ahead of the benchmark’s 5.74%, which supports the view that the strategy has compounded better over a fuller market cycle than the index itself. The 5-year figure is not available because the scheme is too young for a true 5-year read.
What matters most for investors is that the short-term softness does not erase the medium-term profile. The fund can still move sharply in the near term, but the 3-year pattern shows that the return engine has been more constructive than the benchmark over time.
Source data date: as of 16 Sep 2026
Should you BUY or HOLD ICICI Pru PSU Equity?
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 PSU Equity? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| ICICI Pru PSU Equity Fund Direct Growth Plan | 5.57% | 19.87% | Data not available |
| ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan | 69.8% | 36.32% | Data not available |
| HDFC Pharma and Healthcare Fund Direct Growth Plan | 25.31% | Data not available | Data not available |
| Kotak Healthcare Fund Direct Growth Plan | 25.27% | Data not available | Data not available |
| Motilal Oswal Active Momentum Fund Direct Growth Plan | 24.51% | Data not available | Data not available |
| PGIM India Healthcare Fund Direct Growth Plan | 22.75% | Data not available | Data not available |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
The current fund’s 1-year return is far below the strongest peer readings in this set, but its 3-year result is more useful because several peers do not have longer histories shown here. On that longer horizon, it stands ahead of the only peer with a disclosed 3-year figure, which reinforces the idea that the fund’s medium-term profile is steadier than its one-year number suggests. The short-term and longer-term views do not tell the same story, so we would read this as a fund whose recent pace has lagged peers with sharp thematic momentum, while its multi-year compounding has remained workable.
Source data date: as of 16 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| State Bank of India | Bank | 16.76% |
| NTPC Ltd. | Power | 9.05% |
| Power Grid Corporation of India Ltd. | Power | 7.6% |
| Life Insurance Corporation of India | Insurance | 6% |
| Bharat Electronics Ltd. | Capital Goods | 5.91% |
| Oil & Natural Gas Corporation Ltd. | Crude Oil | 4.81% |
| Indian Oil Corporation Ltd. | Crude Oil | 4.65% |
| Coal India Ltd. | Mining | 3.47% |
| Bharat Petroleum Corporation Ltd. | Crude Oil | 3.34% |
| Indian Railway Catering and Tourism Corporation Ltd. | Hospitality | 2.7% |
The top 10 holdings account for approximately 64.29% of the portfolio.
To see all holdings, visit the ICICI Pru PSU Equity Fund Direct Growth Plan page
State Bank of India is the single largest position at 16.76%, so it is likely to have greater influence on outcomes than any other holding in the portfolio. After that, the weights step down fairly quickly, with NTPC Ltd. at 9.05% and Power Grid Corporation of India Ltd. at 7.6%, before moving into the 6% to 3% range across the next seven names.
That pattern suggests a concentrated core rather than a highly even spread. The top 10 disclosed holdings together make up 64.29% of the portfolio, while the table contains 31 disclosed holdings in total, so the tail is meaningful even though the largest positions remain dominant. For investors, that may mean the fund can be sensitive to how a handful of PSU names behave, while still having enough breadth to avoid relying on a single stock alone.
Source data date: as of 16 Sep 2026
Who should invest
This fund is best suited to investors who can tolerate High Risk and are willing to stay invested for several years. The 1-year result is positive and better than the benchmark, while the 3-year record is much stronger than the benchmark, so the fund has shown that it can reward patience even though shorter stretches can be choppy.
The trade-off is clear: you are taking equity volatility and a concentrated PSU-style tilt in exchange for the possibility of stronger multi-year compounding. That makes the fund more suitable for investors who can handle uneven near-term moves and want an active equity sleeve rather than a smooth, defensive return path.
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 |
The exit load is 1% if units are sold within 1 month, and nil after 1 month.
Source data date: as of 16 Sep 2026
Frequently asked questions
What is the current NAV of ICICI Pru PSU Equity Fund Direct Growth Plan?
Its NAV is ₹22.55 as of 16 September 2026.
What are the fund’s 1-year, 3-year and 5-year returns?
The returns are 5.57% for 1 year, 19.87% for 3 years and Data not available for 5 years.
How has the fund performed against the benchmark?
It has outperformed the benchmark over 1 year and 3 years. The benchmark’s 1-year return is -7.76% and its 3-year return is 5.74%.
How does it compare with the peer funds listed here?
Its 1-year return is lower than the peer funds with stronger disclosed short-term numbers, but its 3-year return of 19.87% is ahead of the only peer in this set with a disclosed 3-year figure.
What is the minimum SIP amount?
The minimum SIP amount is ₹100.
Who manages the fund and what is the exit load?
Antariksha Banerjee manages the fund. The exit load is 1% if units are sold within 1 month and nil after 1 month.
Bottom line
ICICI Pru PSU Equity Fund Direct Growth Plan has a mixed but readable profile: the recent 1-year result is positive, while the 3-year record is much stronger and far better than the benchmark. In the peer set, its short-term return trails the faster-moving thematic funds, but its medium-term number is more competitive where a longer history is available. With a High Risk tag and a portfolio led by State Bank of India and other PSU names, this is a fund for investors who can accept concentration and volatility in exchange for active equity exposure with multi-year potential.
Published on 17 September 2026 at 4:31 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.