ICICI Pru Balanced Advantage Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

ICICI Pru Balanced Advantage Fund Direct Growth Plan is at a NAV of ₹89.68 as of 24 August 2026, with scheme AUM of ₹74,555 Cr. Its 1-year, 3-year and 5-year returns are 7.60%, 12.71% and 11.81%, and it sits in High Risk. Our view is that this is a fairly large hybrid fund with a long enough track record to judge across cycles, but the short-term return profile has been more modest than its medium- and long-term compounding.

For investors, the key question is whether they want a hybrid fund that has stayed competitive over time while still accepting material equity-market swings. The portfolio mix is dominated by large-cap exposure, but it also carries meaningful allocations to other buckets, so the path can still be uneven.

Quick facts

Metric	Value
NAV	₹89.68
AUM	₹74,555 Cr
Expense Ratio	0.87%
Launch Date	01 Jan 2013
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Hybrid
Exit Load	Nil upto 30% of units and 1% for remaining units on or before 1Y, Nil after 1Y
Fund Managers	Rajat Chandak, Manish Banthia, Akhil Kakkar, Sri Sharma

The fund is managed by Rajat Chandak, Manish Banthia, Akhil Kakkar and Sri Sharma.

Source data date: as of 24 Aug 2026

Performance

Period	Fund return	Benchmark return
1M	2.36%	0.93%
3M	5.23%	0.78%
1Y	7.60%	-0.85%
3Y	12.71%	7.08%
5Y	11.81%	7.17%

The fund has been ahead of NIFTY 50 across every period listed here, including the recent 1-month and 3-month windows. That matters because the benchmark has been relatively soft over the 1-year period, while the fund still managed a positive 1-year return of 7.60%. The gap becomes more meaningful over 3 years and 5 years, where the fund’s return profile has remained comfortably above the index return.

Recent behaviour looks steadier than a plain equity fund, but it is not smooth. The short-term path shows some mild pullbacks and recoveries rather than a one-way move, which is consistent with a hybrid allocation that still participates in equity rallies. That said, the 3-year and 5-year outcomes suggest the fund has still compounded reasonably well over longer holding periods.

Our read is that the recent 1-month and 3-month gains do not look out of line with the longer record; they fit a fund that can participate in rising markets while keeping the overall experience less dependent on one narrow market segment. The longer horizon is where the case looks stronger, because the fund has turned in a better compounding path than the benchmark across 3 years and 5 years. For a hybrid strategy, that combination of participation and moderation is usually more relevant than any single short-run data point.

Source data date: as of 24 Aug 2026

Should you BUY or HOLD ICICI Pru Balanced Advantage?

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 Balanced Advantage? Thinking of investing now?

Get your portfolio analysed for FREE by SEBI-registered Investment Adviser (RIA) through Univest MF Premium

Peer comparison

Fund	1Y return	3Y return	5Y return
ICICI Pru Balanced Advantage Fund Direct Growth Plan	7.60%	12.71%	11.81%
Baroda BNP Paribas Balanced Advantage Fund Direct Growth Plan	9.20%	13.60%	12.54%
Aditya Birla SL Balanced Advantage Fund Direct Growth Plan	8.72%	12.87%	11.19%
Unifi Dynamic Asset Allocation Fund Direct Growth Plan	8.37%	Data not available	Data not available
Bank of India Balanced Advantage Fund Direct Growth Plan	7.70%	10.47%	11.24%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. Against the listed peers, the fund’s 1-year return sits below the stronger recent showings from Baroda BNP Paribas and Aditya Birla SL, and slightly below Bank of India. Over 3 years and 5 years, it remains close to the better names in the list, even though Baroda BNP Paribas edges ahead on both horizons. The short-term comparison therefore looks less compelling than the longer-term one.

The useful takeaway is that the fund has not been the sharpest recent performer in this set, but its 3-year and 5-year returns remain competitive and more consistent with a steady compounding profile. That split between recent softness and longer-run strength is important for investors who care more about holding-period outcomes than about a single year’s outcome.

Source data date: as of 24 Aug 2026

Portfolio: where your money goes

The market-cap mix is 59.22% large-cap, 6.84% mid-cap, 3.50% small-cap and 30.44% other exposure. That means the portfolio is tilted toward larger companies, but the other bucket is still large enough to matter in day-to-day behaviour.

Sector	Weight	Top holdings
BANK	30.15%	KOTAK MAHINDRA BANK LTD. (19.51%), ICICI BANK LTD. (3.12%)
AUTOMOBILE & ANCILLARIES	8.11%	TVS MOTOR COMPANY LTD. (4.14%), MARUTI SUZUKI INDIA LTD. (1.45%)
FINANCE	7.06%	EMBASSY OFFICE PARKS REIT (2.24%), HDFC ASSET MANAGEMENT COMPANY LTD. (0.94%)
GOVERNMENT SECURITIES	6.23%	6.9% GOVERNMENT SECURITIES (0.87%), 7.24% GOVERNMENT SECURITIES (0.70%)
CASH & CASH EQUIVALENTS AND NET ASSETS	5.65%	TREPS (4.05%), REVERSE REPO (0.82%)

The bank sector is the clear anchor at 30.15%, and it is materially larger than the next sector at 8.11%. That size gap suggests bank names are likely to have the greatest influence on how the portfolio behaves, especially because one holding carries 19.51% by itself. Automobile, finance and government securities add diversification, but they are still far smaller than the banking sleeve.

The market-cap mix reinforces that picture. Large-cap exposure is the biggest block, which usually makes the fund more anchored to established businesses, while the smaller mid-cap and small-cap allocations can add some extra movement around the edges. The 30.44% other exposure is also meaningful, so the fund is not a simple large-cap clone.

Overall, the portfolio looks constructed to stay rooted in larger companies while keeping enough flexibility through cash-like instruments, government securities and other exposures. That mix may help smooth some of the equity volatility, but the heavy banking concentration could still shape near-term outcomes more than any other single theme.

Source data date: as of 24 Aug 2026

Who should invest

This fund is suited to investors who can accept High Risk and are comfortable with a hybrid allocation that still carries meaningful equity sensitivity. The return record suggests it has been able to compound reasonably well over 3 years and 5 years, while the most recent 1-year performance is more modest. That makes the fund more suitable for a medium-to-long holding period than for a short tactical position.

The main trade-off is between steadier hybrid-style diversification and the possibility of uneven short-term movement, especially because bank exposure is prominent and large-cap stocks dominate the portfolio. Investors who want some participation in market upside but do not want a pure equity concentration may find the structure relevant, provided they are willing to hold through periods when recent returns lag the longer record.

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

• Nil upto 30% of units and 1% for remaining units on or before 1Y
• Nil after 1Y

Source data date: as of 24 Aug 2026

Frequently asked questions

What is the current NAV of ICICI Pru Balanced Advantage Fund Direct Growth Plan?

The current NAV is ₹89.68 as of 24 August 2026.

What are the fund’s 1-year, 3-year and 5-year returns?

The fund’s returns are 7.60% over 1 year, 12.71% over 3 years and 11.81% over 5 years.

How has it performed against NIFTY 50?

It has been ahead of NIFTY 50 across 1 month, 3 months, 1 year, 3 years and 5 years. The longer horizon gap is wider than the short-term gap.

How does it compare with peer funds on available return data?

Its 1-year return trails Baroda BNP Paribas Balanced Advantage Fund Direct Growth Plan and Aditya Birla SL Balanced Advantage Fund Direct Growth Plan, while its 3-year and 5-year figures remain competitive in the list.

What is the minimum SIP amount?

The minimum SIP amount is ₹100.

Who manages the fund and what is the exit load?

The fund is managed by Rajat Chandak, Manish Banthia, Akhil Kakkar and Sri Sharma. The exit load is nil upto 30% of units and 1% for remaining units on or before 1 year, and nil after 1 year.

Bottom line

This fund’s recent performance is more moderate than its 3-year and 5-year record, but the longer-term picture still looks constructive. Compared with the listed peers, its short-term return is not the strongest, while the medium- and long-term returns remain competitive. The High Risk label matters here, especially because banking exposure is the largest portfolio block and large-cap names dominate the mix. That combination suits investors who want a hybrid fund with a meaningful equity tilt and are prepared for uneven short-term moves.

Published on 25 August 2026 at 1:10 PM IST

Explore mutual funds with Univest

Review mutual fund data, compare performance and explore fund insights on Univest.

Explore 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.