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

Updated: 10 Sept 2026 • 9:45 am

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

ICICI Pru Balanced Advantage Fund Direct Growth Plan is an ICICI Pru hybrid scheme with a current NAV of ₹87.8 as of 09 Sep 2026 and a scheme AUM of ₹75,399 Cr. Its 1-year, 3-year and 5-year returns are 4.96%, 11.23% and 10.92% respectively, and it carries a High Risk profile. Our view is that the fund has offered steadier longer-term compounding than its most recent 1-year run, which makes it more suitable for investors who can tolerate equity-led swings but want a balanced-advantage structure rather than a pure equity profile.

The current portfolio mix and the long record since 2013 suggest a fund that may suit a multi-year horizon better than a short holding period. The combination of a large scheme size, a diversified set of holdings and returns that have held up better over 3 and 5 years than over 1 year points to a fund where the longer journey appears more relevant than the latest stretch.

Table of Contents

Quick facts

Particular	Details
NAV	₹87.8 as of 09 Sep 2026
AUM	₹75,399 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 09 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-2.66%	-4.69%
3M	4.66%	0.93%
1Y	4.96%	-7.16%
3Y	11.23%	6%
5Y	10.92%	5.87%

Recent behaviour has been mixed but still constructive. Over 1 month, the fund fell less than the benchmark, and over 3 months it moved ahead of the benchmark by a clear margin. That matters because the latest stretch was not a straight line up; the path includes short pullbacks, but the fund still recovered better than the benchmark in the intermediate window.

The broader picture is more important here. The 1-year return is positive while the benchmark is negative, which shows that the fund handled a difficult year better than the index. That pattern is also consistent with the longer record: the 3-year and 5-year returns remain well above the benchmark, so the recent softness does not overturn the longer compounding trend.

Our read is that this is not a low-volatility line of returns, but it has still protected the long-run outcome better than the benchmark in the periods that matter most for compounding. The gap between 1-year and 3-year/5-year performance suggests that short-term results can differ meaningfully from the longer pattern, so the fund is best judged over multiple years rather than one quarter or one year.

Source data date: as of 09 Sep 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?

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Peer comparison

Fund	1Y return	3Y return	5Y return
ICICI Pru Balanced Advantage Fund Direct Growth Plan	4.96%	11.23%	10.92%
Unifi Dynamic Asset Allocation Fund Direct Growth Plan	8.68%	Data not available	Data not available
Aditya Birla SL Balanced Advantage Fund Direct Growth Plan	8.42%	11.92%	10.57%
Baroda BNP Paribas Balanced Advantage Fund Direct Growth Plan	8.14%	12.06%	11.26%
Edelweiss Balanced Advantage Fund Direct Growth Plan	6.18%	10.63%	9.58%
360 ONE Balanced Hybrid Fund Direct Growth Plan	5.99%	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 latest 1-year numbers, the fund trails the stronger peer returns, even though it still holds up better than the benchmark. The longer record is more balanced: the 3-year and 5-year returns are competitive, but they remain below the best available peer figures in those periods. That leaves a mixed read—short-term performance is softer than several peers, while the longer-term profile still looks credible.

Source data date: as of 09 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
TREPS	Cash & Cash Equivalents and Net Assets	7.41%
TVS Motor Company Ltd.	Automobile & Ancillaries	6.17%
ICICI Bank Ltd.	Bank	4.07%
HDFC Bank Ltd.	Bank	3.25%
Embassy Office Parks Reit	Finance	2.8%
Reliance Industries Ltd.	Crude Oil	2.6%
Infosys Ltd.	IT	2.47%
Eternal Ltd.	Retailing	2.14%
State Bank of India	Bank	2%
Axis Bank Ltd.	Bank	1.98%

The largest holding is TREPS at 7.41%, so no single position dominates the portfolio on its own. Weight then steps down gradually rather than collapsing sharply, with the tenth holding still close to 2%, which suggests the visible core is spread across several positions instead of being built around one or two outsized bets.

The top 10 holdings together account for approximately 34.89% of the portfolio, and the scheme discloses 56 holdings in total. That combination points to a portfolio with a meaningful tail beyond the largest names, which may help reduce reliance on any single stock while still leaving the leading positions important for returns. The cash and cash-equivalent sleeve also adds flexibility, which can matter in a balanced-advantage structure.

Because the disclosed holdings extend well beyond the top 10, the portfolio appears more layered than concentrated at the very top. Still, the first few positions are large enough to matter, so investors should expect the fund’s behaviour to reflect both equity selection and the allocation choices around cash and other assets.

To see all holdings, visit the ICICI Pru Balanced Advantage Fund Direct Growth Plan page

Source data date: as of 09 Sep 2026

Who should invest

This fund may suit investors who are comfortable with High Risk but still prefer a balanced-advantage framework rather than a pure equity scheme. The 3-year and 5-year returns are stronger than the 1-year outcome, so the investment case looks better when judged over a multi-year horizon. That makes it more appropriate for investors who can hold through uneven shorter-term performance and who want the benchmark comparison and portfolio mix to play out over time.

The main trade-off is that the fund can participate in market upside, but short-term results may move around and may not always keep pace with the strongest peers. Investors who want a smoother near-term journey may find that uncomfortable, while those who can stay invested through cycles may view the longer record more favourably.

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 applies as follows: nil up to 30% of units and 1% for the remaining units on or before 1 year; nil after 1 year.

Source data date: as of 09 Sep 2026

Frequently asked questions

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

The current NAV is ₹87.8 as of 09 Sep 2026.

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

The 1-year return is 4.96%, the 3-year return is 11.23% and the 5-year return is 10.92%.

How has it done versus the benchmark?

It has beaten the Nifty 50 across 1 month, 3 months, 1 year, 3 years and 5 years in the available figures. The gap is especially clear over 1 year and over the longer horizons.

How does it compare with the peer funds listed here?

Its 1-year return is lower than several of the peer funds shown, while its 3-year and 5-year returns remain competitive but not the strongest in the group. That creates a mixed peer comparison: softer recent performance, but a solid longer-term record.

Is there a 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. Exit load is nil up to 30% of units and 1% for the remaining units on or before 1 year, and nil after 1 year.

Bottom line

ICICI Pru Balanced Advantage Fund Direct Growth Plan has a softer 1-year showing than its 3-year and 5-year record, so its recent stretch does not fully match the longer compounding pattern. Against peers, the latest numbers lag some of the stronger recent return profiles, while the longer-run figures remain respectable. The High Risk label, the cash-linked portfolio sleeve and the spread across 56 holdings together suggest a fund that may suit patient investors who can live with uneven short-term outcomes and want the longer holding-period story to matter more.

Published on 10 September 2026 at 9:43 AM IST

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.