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

ICICI Pru Balanced Hybrid Fund Direct Growth Plan is at a NAV of ₹9.98 as of 16 Sep 2026, with an AUM of ₹208 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0% respectively, and the scheme is tagged as High Risk. Our view is that this looks like a very early-stage hybrid fund with a small asset base and no return history yet to judge long-term consistency.

The fund’s benchmark is Nifty 50, while the portfolio already shows a meaningful mix of cash, debt and select equity holdings. That mix can help balance swings, but the short track record means investors still have limited evidence on how the strategy behaves across a full market cycle.

Quick facts

Particular	Details
NAV	₹9.98 as of 16 Sep 2026
AUM	₹208 Cr
Expense Ratio	0.0%
Launch Date	17 Jul 2026
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	Roshan Chutkey, Manish Banthia, Akhil Kakkar

The fund is managed by Roshan Chutkey, Manish Banthia and Akhil Kakkar.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-1.58%	-4.41%
3M	Data not available	Data not available
1Y	0%	Data not available
3Y	0%	Data not available
5Y	0%	Data not available

In the most recent one-month period, the fund declined, but it held up better than the benchmark. That gap matters because the benchmark fell more sharply, which suggests the portfolio has offered some short-term cushioning even in a weak stretch.

Longer-horizon figures are still not useful for judging consistency because the scheme was launched only in July 2026. The 1-year, 3-year and 5-year return fields therefore do not yet provide a real view of compounding, and the current period is better read as a starting snapshot than as a mature record.

That said, the early pattern does show a hybrid structure that is not moving in lockstep with equities alone. The portfolio mix and the benchmark gap in the recent month suggest some defensive characteristics, but the fund still needs time before we can assess whether those characteristics persist through different market conditions.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD ICICI Pru Balanced Hybrid?

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.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Nippon India Dynamic Term Fund Direct Growth Plan	5.01%	7.2%	6.16%
Nippon India Balanced Advantage Fund Direct Growth Plan	2.14%	10.09%	9.49%
ICICI Pru Balanced Hybrid Fund Direct Growth Plan	Data not available	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 available return figures, the current fund trails the peer set because its 1-year figure is not yet meaningful enough for direct comparison, while the peer funds already show realised 1-year, 3-year and 5-year records. That makes the current scheme harder to place on performance alone.

The two peer funds also show a clearer long-term record, which the current fund does not yet have. So the short-term comparison and the longer-term comparison tell different stories: the peers can be judged on history, while this fund is still in the build-out phase.

For now, our reading is that the fund’s main question is not whether it has matched peers over several years, but whether its hybrid structure can build a steadier record over time. Until then, the available evidence is more about positioning than about completed performance.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
TREPS	Cash & Cash Equivalents and Net Assets	9.65%
7.44% NABARD	Corporate Debt	7.17%
7.46% Rural Electrification Corporation Ltd. **	Corporate Debt	4.79%
Bank of Baroda **	Certificate of Deposit	4.66%
7.4913% Mindspace Business Parks Reit **	Corporate Debt	3.59%
8.45% Muthoot Finance Ltd. **	Corporate Debt	3.58%
Pi Industries Ltd.	Chemicals	3.21%
Axis Bank Ltd.	Bank	2.93%
HDFC Bank Ltd.	Bank	2.46%
9.4% Vedanta Ltd.	Corporate Debt	2.41%

The single largest holding, TREPS, carries a weight of 9.65%, so no one position dominates the fund by itself. The next few holdings are meaningfully smaller, and the tenth holding is down to 2.41%, which shows a clear taper from the top of the portfolio.

The top 10 holdings account for approximately 44.45% of the portfolio, while the fund discloses 47 holdings in total. That combination points to a portfolio that is partly concentrated in its largest positions but still leaves a long tail of smaller exposures.

Because the disclosed holdings span debt, cash-like instruments and a few equities, the fund may have more balanced day-to-day behaviour than a pure equity portfolio. At the same time, the meaningful weight in a handful of positions means those names could still have greater influence on returns than the rest of the disclosed basket.

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

Source data date: as of 16 Sep 2026

Who should invest

This fund fits investors who are comfortable with High Risk and can stay invested for long enough to let the hybrid structure play out. The portfolio already includes cash, debt and equity-linked holdings, so it may suit someone who wants diversification within one scheme rather than a pure equity-only exposure.

The main limitation is the short history. Since the fund was launched only in July 2026, there is not yet a full performance cycle to assess how it behaves in stronger rallies, sharp drawdowns or prolonged sideways markets.

For now, the trade-off is between an early-stage hybrid allocation and the uncertainty that comes with a very short track record. That makes it more suitable for investors who can tolerate volatility and who are willing to track the scheme over time before relying on it as a core holding.

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 NIL up to 30% of units and 1% for the remaining units on or before 1 year, and there is no exit load after the holding period.

Source data date: as of 16 Sep 2026

Frequently asked questions

What is the current NAV of ICICI Pru Balanced Hybrid Fund Direct Growth Plan?
The NAV is ₹9.98 as of 16 Sep 2026. The fund also moved up by 0.2% on the day.

What are the fund’s 1-year, 3-year and 5-year returns?
The 1-year, 3-year and 5-year returns are 0%, 0% and 0% respectively. Because the scheme launched on 17 Jul 2026, these longer-horizon fields are not yet informative.

How has the fund done versus its benchmark?
In the latest one-month period, the fund fell 1.58% while the benchmark fell 4.41%. That means it held up better than the benchmark in the short term.

How does it compare with the peer funds listed here?
The peer funds shown have established 1-year, 3-year and 5-year records, while this fund does not yet have a comparable history. On the available figures, the peers are more informative for performance comparison.

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 Roshan Chutkey, Manish Banthia and Akhil Kakkar. Exit load is NIL up to 30% of units and 1% for the remaining units on or before 1 year, with no exit load after that holding period.

Bottom line

ICICI Pru Balanced Hybrid Fund Direct Growth Plan is still too new for a long-horizon verdict, so its 1-year, 3-year and 5-year numbers do not yet tell a meaningful compounding story. The recent one-month result was weaker than flat, but still held up better than the benchmark. Its peer set has much more developed return history, which makes the current scheme harder to assess on performance alone. The portfolio’s mix of cash, debt and select equity exposures may support balance, but the short track record remains the key caveat.

Published on 17 September 2026 at 5:24 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.