Best ICICI Prudential Mutual Funds in 2026: Top Picks for 1 Year, 3 Years, 5 Years & 10 Years

ICICI Prudential Mutual Funds is India’s second-largest AMC by AUM — managing approximately ₹7.8 lakh crore across 80+ schemes for over 1 crore active folios. If you are looking for the best ICICI Prudential mutual fund to invest in 2026, this guide covers the top schemes for every time horizon: 1 year, 3 years, 5 years, and 10 years.

ICICI Prudential is best known for its large-cap franchise — it manages the largest AUM in the large-cap category (₹73,034 crore in ICICI Pru Bluechip alone), its ICICI Pru Multi Asset Fund, and its high-performing ICICI Pru Value Discovery Fund. The AMC’s chief investment officer S. Naren is considered one of India’s foremost contrarian value investors, and his philosophy permeates the equity desk.

Why ICICI Prudential MF Stands Out in 2026

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ICICI Prudential MF’s unique differentiator is S. Naren’s contrarian value discipline — the fund house systematically underweights expensive sectors and overweights undervalued ones. This discipline delivered exceptional performance in PSU re-rating (2022-24), value unlocking in infrastructure (2021-25), and defensive allocation during growth stock corrections (2022, 2026). ICICI Pru Large Cap Fund delivered consistent outperformance across 1, 3, and 5 years — backed by strong exposure to banking, infrastructure, and telecom stocks.

The ICICI Prudential Bluechip Fund alone manages ₹73,034 crore — the largest AUM in India’s large-cap category — a testament to massive investor trust. The AMC has consistently ranked in the top tier for risk-adjusted returns across equity categories.

Best ICICI Prudential Mutual Funds for 1 Year (2026)

1. ICICI Prudential Multi Asset Fund Direct-Growth

ICICI Prudential Multi Asset Fund is one of the strongest 1-year performers in 2026 with approximately 17.64% annual return, 20% 3-year CAGR, and 19.46% 5-year CAGR — all significantly above its benchmarks. The fund invests across stocks (ICICI Bank, HDFC Bank, Reliance, Infosys, Axis Bank, ITC, Maruti), bonds, gold, and international equities. Its low beta of 0.49 means it moves much less than the market, making it an excellent core holding for conservative equity investors.

• Sharpe ratio: 0.13 — healthy risk-adjusted returns.
• Best suited for: Investors wanting equity growth with built-in downside protection via multi-asset diversification.

2. ICICI Prudential Infrastructure Fund Direct-Growth

India’s infrastructure cycle — driven by NIP (National Infrastructure Pipeline), PM Gati Shakti, and the PLI scheme — has been one of the strongest investment themes over the past 3 years. ICICI Pru Infrastructure Fund has been a primary beneficiary. 1-year return of approximately 16-20% in 2026, building on 3-year CAGR of approximately 21-24% (versus 18.49% for its regular plan peer). Holdings include L&T, NTPC, Power Grid, Siemens, ABB, and BEL.

Best ICICI Prudential Mutual Funds for 3 Years (2026)

3. ICICI Prudential Infrastructure Fund Direct-Growth

The best ICICI Prudential mutual fund for 3-year investors in 2026 is the Infrastructure Fund with approximately 21.67% 3-year CAGR — above the category average of approximately 18-20%. India’s infrastructure investment cycle is in its third year of strong execution, with the government’s ₹10+ lakh crore annual capex in roads, railways, ports, defence, and power transmission benefiting infrastructure sector companies. ICICI Pru Infrastructure Fund has direct exposure to L&T, ABB, Siemens, BHEL, and NTPC.

4. ICICI Prudential Value Discovery Fund Direct-Growth

ICICI Pru Value Discovery Fund, managed by S. Naren with his characteristic contrarian approach, has delivered approximately 18-20% 3-year CAGR and 22-24% 5-year CAGR. This is one of India’s oldest and most respected value/contra funds, with AUM of approximately ₹40,000 crore. The fund buys stocks when they are out of favour and holds through a full value-unlocking cycle — a strategy that has historically outperformed over 5-10 year periods.

5. ICICI Prudential Bluechip Fund Direct-Growth

ICICI Prudential Bluechip Fund — India’s largest large-cap fund by AUM (₹73,034 crore) — has delivered consistent outperformance across 1, 3, and 5 years backed by concentrated positions in India’s strongest large-cap businesses. The fund’s 3-year CAGR of approximately 16-18% is above the large-cap category average, and its sheer AUM ensures deep liquidity and diversification. For conservative investors seeking large-cap equity returns, this is a benchmark holding.

Best ICICI Prudential Mutual Funds for 5 Years (2026)

ICICI Prudential Infrastructure Fund stands out with approximately 25-28% 5-year CAGR — one of the strongest 5-year performances across all AMCs in India’s infrastructure category. This reflects the exceptional performance of India’s infrastructure-linked companies during the capex supercycle. However, investors should note that sectoral/thematic funds carry concentration risk — the next 5 years may be different.

Best ICICI Prudential Mutual Funds for 10 Years (2026)

ICICI Prudential Multi Asset Fund, since its inception in 2002, has delivered approximately 20.80% CAGR — one of the highest since-inception returns for any large-AUM fund in India. Over 23 years, this makes it one of the most reliable long-term wealth creators in the Indian mutual fund industry.

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ICICI Prudential Retirement Fund vs SBI and HDFC Retirement Funds

An important data point: ICICI Prudential Retirement Fund (Pure Equity) delivered approximately 24.22% 3-year returns versus SBI Retirement Benefit Fund (Aggressive Plan) at approximately 10.67% — a massive gap of over 1,350 basis points. For investors specifically planning for retirement, ICICI Pru Retirement Fund stands out as one of the strongest options in the category.

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FAQs About Best ICICI Prudential Mutual Funds

Q1. Which is the best ICICI Prudential mutual fund to invest in 2026?

The best ICICI Prudential mutual fund in 2026 is ICICI Pru Infrastructure Fund for aggressive investors (21.67% 3-year CAGR, 25-28% 5-year CAGR), ICICI Pru Multi Asset Fund for balanced investors (17.64% 1-year return, 20% 3-year CAGR, low beta of 0.49), and ICICI Pru Bluechip Fund for conservative large-cap investors (India’s largest large-cap fund, ₹73,034 crore AUM).

Q2. What is ICICI Prudential Bluechip Fund’s return and AUM?

ICICI Prudential Bluechip Fund manages ₹73,034 crore in AUM — the largest of any large-cap fund in India. 3-year CAGR is approximately 16-18% and 5-year CAGR is approximately 17-19%. The fund has delivered consistent outperformance across 1, 3, and 5 years, backed by strong exposure to HDFC Bank, ICICI Bank, Reliance Industries, Infosys, Bharti Airtel, and Larsen & Toubro.

Q3. Is ICICI Prudential Value Discovery Fund good in 2026?

ICICI Prudential Value Discovery Fund is an excellent 5-10 year investment in 2026 — it has delivered approximately 22-24% 5-year CAGR and approximately 18-20% 10-year CAGR using S. Naren’s contrarian value discipline. The fund systematically buys undervalued businesses and holds through full value-unlocking cycles. For investors who understand value investing and have a 5+ year horizon, this is one of ICICI Pru’s strongest offerings.

Q4. What makes ICICI Prudential Multi Asset Fund special?

ICICI Prudential Multi Asset Fund has delivered approximately 19.46% 5-year CAGR with a beta of just 0.49 — meaning the fund moves only 49% as much as the broader market in either direction. This exceptional risk-reward profile, combined with 17.64% 1-year return and strong 3-year performance, makes it a highly efficient investment for investors who want equity-like returns without equity-level volatility. The multi-asset approach (stocks + bonds + gold + international equities) provides natural diversification.

Q5. What is ICICI Prudential’s total AUM in 2026?

ICICI Prudential Mutual Fund manages approximately ₹7.8 lakh crore in total AUM as of 2026, making it India’s second-largest AMC by total AUM and the largest in the large-cap equity category. The AMC has over 1 crore active investor folios and manages 80+ schemes across equity, debt, hybrid, ETF, and FoF categories.

Q6. How does ICICI Pru Infrastructure Fund compare to its peers?

ICICI Prudential Infrastructure Fund delivered approximately 21.67% 3-year CAGR — above its regular plan peer (SBI Infrastructure Fund Regular Plan: approximately 18.49% 3-year returns). Among infrastructure funds nationally, ICICI Pru Infrastructure is among the top performers on both 3-year and 5-year metrics. Key holdings include L&T, ABB, Siemens, NTPC, Power Grid, BHEL, and BEL.

Q7. What is ICICI Prudential Retirement Fund’s return?

ICICI Prudential Retirement Fund (Pure Equity option) delivered approximately 24.22% 3-year returns — versus SBI Retirement Benefit Fund Aggressive at only 10.67%. This makes ICICI Pru Retirement Fund one of the best-in-category options for retirement-focused investors with 5+ year horizons who want maximum equity exposure within a retirement-labelled product.

Q8. Can I invest in ICICI Prudential Mutual Funds through Univest?

Yes — you can invest in all ICICI Prudential Mutual Fund schemes through Univest’s zero-commission platform. Choose from Direct Plans (lower expense ratios), compare schemes by rolling returns, risk ratios, and AUM, and start SIPs from as low as ₹100. Univest’s AI-powered research tools help you identify the best ICICI Pru fund for your specific goal and time horizon.

Mutual fund investments are subject to market risks. Please read all scheme-related documents carefully before investing. This content is for educational purposes only and does not constitute investment advice. Consult a SEBI-registered financial advisor.

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