ICICI Pru Retirement Fund-Pure Equity Direct Growth Plan Review 2026: NAV, Returns, Portfolio & Should You Invest?
- September 16, 2026
- Posted by: Chaitanya Auti
- Category: Mutual Funds
ICICI Pru Retirement Fund-Pure Equity Plan Direct Growth Plan closed at ₹38.17 as of 15 Sep 2026, with an AUM of ₹2,157 Cr. Its 1-year, 3-year and 5-year returns are 5.18%, 18.43% and 18.72% respectively. The fund is in the High Risk bucket, so our view is that it suits investors who can stay patient through sharp swings and are looking for equity-led retirement-style compounding rather than stable short-term outcomes.
The portfolio has a clear large-cap bias through banks, consumer names, telecom and industrial holdings, while the benchmark remains Nifty 50. That mix helps explain why the fund can participate in equity upside, but it also means returns may move meaningfully with market conditions. The recent stretch has been softer than the longer-run trend, so the fund looks more suitable for a long horizon than for investors who need consistent near-term smoothness.
Quick facts
| Particular | Details |
|---|---|
| NAV | ₹38.17 as of 15 Sep 2026 |
| AUM | ₹2,157 Cr |
| Expense Ratio | 0.68% |
| Launch Date | 27 Feb 2019 |
| Min SIP | ₹100 |
| Risk Category | High Risk |
| Benchmark | Nifty 50 |
| Fund Category | Solution Oriented |
| Exit Load | No exit load |
| Fund Managers | Sanket Gaidhani, Darshil Dedhia, Rohit Lakhotia |
The fund is managed by Sanket Gaidhani, Darshil Dedhia and Rohit Lakhotia.
Source data date: as of 15 Sep 2026
Performance
| Period | Fund return | Benchmark return |
|---|---|---|
| 1M | -4.57% | -4.81% |
| 3M | -1.52% | -3.63% |
| 1Y | 5.18% | -8.27% |
| 3Y | 18.43% | 5.59% |
| 5Y | 18.72% | 5.58% |
The recent picture is mixed, but it is not weak in the context of the benchmark. Over 1 month and 3 months, the fund stayed negative, yet it fell less than the NIFTY 50 over the same windows. That tells us the portfolio did not avoid drawdown, but it did hold up relatively better than the index during the latest pullback.
The bigger story sits in the longer horizon. The 1-year return is positive while the benchmark is negative, which shows that the fund recovered better than the index over the last year. Over 3 years and 5 years, the fund has produced a much stronger compounding path than the benchmark, and that gap is large enough to matter for long-term investors. This points to a fund that has rewarded patience more than short holding periods.
The time pattern also suggests periods of volatility rather than a straight line of gains. The 1-year stretch has had clear swings, and the short-term negatives confirm that the fund can move sharply when markets wobble. Even so, the 3-year and 5-year returns remain solidly ahead of the benchmark, so the longer record still supports the idea that this is an equity fund that has historically been able to compound better than the market proxy used here.
For investors, the key takeaway is that the recent softness should not be read in isolation. This fund has been stronger across medium and longer horizons than the benchmark, but it can still experience meaningful short-run pressure. That makes the holding period important: a shorter window may show uneven results, while a longer window has better reflected the underlying equity exposure.
Source data date: as of 15 Sep 2026
Should you BUY or HOLD ICICI Pru Retirement Fund-Pure Equity Plan?
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 Retirement Fund-Pure Equity Plan? Thinking of investing now?
Peer comparison
| Fund | 1Y return | 3Y return | 5Y return |
|---|---|---|---|
| ICICI Pru Retirement Fund-Pure Equity Plan Direct Growth Plan | 5.18% | 18.43% | 18.72% |
| Aditya Birla SL Retirement Fund-30 Direct Growth Plan | 11.24% | 14.92% | 11.8% |
| Tata Retirement Sav Fund – Prog Plan Direct Growth Plan | 7.73% | 12.85% | 11% |
| Tata Retirement Sav Fund – Mod Plan Direct Growth Plan | 7.39% | 12.13% | 10.87% |
| ICICI Pru Retirement Fund-Hybrid Aggressive Plan Direct Growth Plan | 5.77% | 16.4% | 14.68% |
| SBI Retirement Benefit Fund-Aggressive Hybrid Plan Direct Growth Plan | 5.21% | 9.02% | 11.33% |
This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.
Against the peer set, the fund’s 1-year return is below Aditya Birla SL Retirement Fund-30 Direct Growth Plan and the two Tata retirement options, but it is close to the hybrid peers. The more interesting contrast comes over 3 years and 5 years, where this fund leads the group on the available figures. That split suggests that the scheme has not been the strongest recent performer, but it has shown better longer-term compounding than the other listed retirement funds here.
So the peer comparison tells two different stories. Short-term numbers show a fund that is not ahead of every peer, while the medium- and long-term numbers show a record that is stronger than the available comparison group. For investors who care more about multi-year compounding than about one-year momentum, that difference matters.
Source data date: as of 15 Sep 2026
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Portfolio: where your money goes
| Holding | Sector | Weight |
|---|---|---|
| HDFC Bank Ltd. | Bank | 4.87% |
| Reliance Industries Ltd. | Crude Oil | 4.14% |
| TREPS | Cash & Cash Equivalents and Net Assets | 4.11% |
| Multi Commodity Exchange of India Ltd. | Finance | 3.83% |
| Hindustan Unilever Ltd. | FMCG | 3.67% |
| ICICI Bank Ltd. | Bank | 2.46% |
| Bharti Airtel Ltd. | Telecom | 2.38% |
| Apar Industries Ltd. | Capital Goods | 2.27% |
| Britannia Industries Ltd. | FMCG | 2.26% |
| Avenue Supermarts Ltd. | Retailing | 2.25% |
The top 10 holdings account for approximately 32.24% of the portfolio.
To see all holdings, visit the ICICI Pru Retirement Fund-Pure Equity Plan Direct Growth Plan page
The largest holding, HDFC Bank Ltd., has a weight of 4.87%, so no single position dominates the portfolio on its own. The next few holdings are also in the 2% to 4% range, which suggests the fund spreads capital across several large names rather than relying on one standout stock. That kind of structure may help limit dependence on any one company, even though the fund is still equity-heavy.
The fall from the largest holding to the tenth is not steep in absolute terms, but it is enough to show a layered portfolio. The holdings table moves from 4.87% to 2.25%, which means the portfolio’s visible core is built from a set of meaningful positions instead of a single anchor. TREPS also appears among the largest holdings, which can add some cash-like stability at the margin.
With 32.24% of the portfolio in the top 10 and 65 holdings disclosed in total, the fund looks moderately concentrated in its leading names but still broad enough to avoid extreme reliance on a handful of stocks. That balance may matter for retirement-oriented investors because the portfolio can participate in equity upside while still keeping position sizes within a measured range.
Source data date: as of 15 Sep 2026
Who should invest
This fund is best read as a long-horizon equity option for investors who can tolerate High Risk exposure and do not need a smooth path from month to month. Its stronger 3-year and 5-year returns, compared with the benchmark, support the case for patient capital, while the softer recent stretch shows that short-term drawdowns are still part of the experience.
The portfolio’s large-cap leaning across banks, consumer names and other established companies may suit investors who want equity growth with a familiar set of underlying businesses. The main trade-off is straightforward: better medium- and long-term compounding has come alongside visible short-term volatility. That makes the fund more appropriate for investors who can stay invested through uneven 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: No exit load
Source data date: as of 15 Sep 2026
Frequently asked questions
What is the current NAV of ICICI Pru Retirement Fund-Pure Equity Plan Direct Growth Plan?
The current NAV is ₹38.17 as of 15 Sep 2026.
How has the fund performed over 1 year, 3 years and 5 years?
Its 1-year return is 5.18%, its 3-year return is 18.43%, and its 5-year return is 18.72%.
How does it compare with the benchmark?
The fund is ahead of the NIFTY 50 across the 1-year, 3-year and 5-year periods shown here. The gap is especially clear over 3 years and 5 years, where the benchmark has been far lower.
What is the minimum SIP amount?
The minimum SIP amount is ₹100.
Who manages this fund?
The fund is managed by Sanket Gaidhani, Darshil Dedhia and Rohit Lakhotia.
What is the exit load and tax treatment?
There is no exit load. Tax is shown as 20% for units held less than 1 year and 12.5% for units held more than 1 year.
Bottom line
The fund’s recent performance is softer than its medium- and long-term track record, but the longer horizon still looks stronger than the benchmark and the listed peer set on the available figures. Its High Risk profile, large-cap-leaning equity portfolio and moderate concentration in the leading holdings point to a fund that may suit patient investors with a long holding period. The main compromise is that short-term volatility remains part of the journey, even when the broader compounding pattern has been better.
Published on 16 September 2026 at 11:57 AM 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.