ICICI Pru Banking & Fin Serv Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

ICICI Pru Banking & Fin Serv Fund Direct Growth Plan has a current NAV of ₹146.38 as of 17 Sep 2026 and a scheme AUM of ₹11,330 Cr. Its 1-year, 3-year and 5-year returns are -3.26%, 8.51% and 9.07%, and the fund sits in the High Risk category. Our view is that this is a sector-focused equity fund that has worked better over longer stretches than over the most recent year, so it suits investors who can accept swings in return for concentrated exposure to banking and financial services.

The fund’s longer record is more constructive than its latest 12 months, but the benchmark has also been weak across the same shorter period. That makes the recent slump more of a sector-wide test than a fund-specific one, although the portfolio’s heavy tilt toward banks means it will still move closely with the fortunes of a few large financial names.

Quick facts

Particular	Details
NAV	₹146.38 as of 17 Sep 2026
AUM	₹11,330 Cr
Expense Ratio	1.01%
Launch Date	01 Jan 2013
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	1% on or before 15D, NIL after 15D
Fund Managers	Antariksha Banerjee

The fund is managed by Antariksha Banerjee.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-0.85%	-3.66%
3M	-1.95%	-3.71%
1Y	-3.26%	-7.13%
3Y	8.51%	5.82%
5Y	9.07%	5.72%

The recent numbers show a fund that has been less weak than its benchmark, even though both have struggled over the shorter horizons. The 1-month and 3-month patterns suggest some stability after a rougher stretch, but the 1-year return is still negative, so the short-term picture remains cautious.

Over 3 years and 5 years, the fund has done better than the benchmark. That is important because it tells us the scheme has still been able to compound through a difficult cycle, even if the last year did not support that trend. The gap between the 1-year result and the longer-term results points to cyclical pressure rather than a full break in the fund’s longer record.

From an investor’s angle, the main takeaway is that this is not a smooth-return fund. It has had enough swings that timing matters in the short run, but the longer horizon has been more rewarding than the benchmark. The recent pattern does not change the basic message: this is a high-volatility sector fund whose results depend heavily on financial stocks staying resilient.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD ICICI Pru Banking & Fin Serv?

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
ICICI Pru Banking & Fin Serv Fund Direct Growth Plan	-3.26%	8.51%	9.07%
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan	69.8%	36.32%	Data not available
HDFC Pharma and Healthcare Fund Direct Growth Plan	25.31%	Data not available	Data not available
Kotak Healthcare Fund Direct Growth Plan	25.27%	Data not available	Data not available
Motilal Oswal Active Momentum Fund Direct Growth Plan	24.51%	Data not available	Data not available
PGIM India Healthcare Fund Direct Growth Plan	22.75%	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 strongest peer figures by a wide margin, which is not surprising given the different sector exposures in the comparison set. The more useful comparison is at 3 years and 5 years, where the fund’s returns are steady and positive, while several peer rows do not have longer-horizon figures available.

That makes the short-term and long-term stories feel different. The fund’s own 1-year performance is subdued, but its 3-year and 5-year track remain ahead of the benchmark and more stable than the weaker short window suggests. For readers comparing only available figures, the fund looks more like a patient sector allocator than a recent momentum play.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
ICICI Bank Ltd.	Bank	14.08%
HDFC Bank Ltd.	Bank	12.07%
Kotak Mahindra Bank Ltd.	Bank	9.37%
Axis Bank Ltd.	Bank	8.95%
State Bank of India	Bank	5.11%
SBI Cards & Payment Services Ltd.	Finance	3.04%
LIC Housing Finance Ltd.	Finance	2.75%
SBI Life Insurance Company Ltd.	Insurance	2.73%
HDFC Life Insurance Company Ltd.	Insurance	2.6%
Bajaj Finserv Ltd.	Finance	2.3%

The largest holding, ICICI Bank Ltd., carries a weight of 14.08%, which is large enough to matter on its own and is likely to have greater influence than any single non-top holding. The next positions also sit at meaningful weights, so the fund’s performance can be shaped by a small group of financial names rather than a wide scatter of minor bets.

The drop from the first holding to the tenth is fairly steep, from 14.08% to 2.3%. That suggests the portfolio is not evenly spread across its headline positions, even though the top ten holdings together account for approximately 63% of the portfolio. With 36 disclosed holdings in total, the visible slice is concentrated enough that a handful of banks, finance companies and insurers may drive a large part of the fund’s day-to-day movement.

Because the top weights are clustered around banks, the fund may react strongly to changes in credit conditions, interest-rate expectations and market sentiment toward financials. The remaining holdings likely provide some breadth, but the top positions clearly do most of the work.

To see all holdings, visit the ICICI Pru Banking & Fin Serv Fund Direct Growth Plan page

Source data date: as of 17 Sep 2026

Who should invest

This fund is better suited to investors who can handle High Risk and are comfortable with a sector-heavy equity allocation. The 1-year weakness, alongside stronger 3-year and 5-year numbers, suggests it fits a longer horizon rather than a short holding period. The benchmark comparison also shows that recent softness has been present in the broader market context, not just in the scheme itself.

The main trade-off is clear: you accept sharper swings and a concentrated financial-services tilt in exchange for the chance to participate in longer-term compounding when the sector is in favour. Investors who want steadier category-style behaviour may find the volatility uncomfortable, while those who can wait through cycles may be more aligned with the fund’s pattern.

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: 1% if units are sold on or before 15 days; nil after 15 days.

Source data date: as of 17 Sep 2026

Frequently asked questions

What is the current NAV of ICICI Pru Banking & Fin Serv Fund Direct Growth Plan?

The current NAV is ₹146.38 as of 17 Sep 2026.

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

The fund’s 1-year return is -3.26%, its 3-year return is 8.51%, and its 5-year return is 9.07%.

How does the fund compare with its benchmark?

It has done better than the Nifty 50 over 3 years and 5 years, while the 1-year result is less weak than the benchmark but still negative. The shorter periods also show both the fund and the benchmark under pressure.

How does it compare with the peer funds listed here?

On the 1-year figures, several peer funds show much stronger returns, but the comparison set is not uniform because longer-horizon figures are unavailable for some of them. The fund’s 3-year and 5-year numbers are positive and give a more complete view of its longer record.

What is the exit load?

The exit load is 1% if units are sold on or before 15 days, and nil after 15 days.

Who manages the fund?

Antariksha Banerjee manages the fund.

Bottom line

ICICI Pru Banking & Fin Serv Fund Direct Growth Plan has a softer recent year, but its 3-year and 5-year numbers remain constructive and better than the benchmark. The peer set’s available figures show that some sector funds have posted much stronger recent gains, yet this fund’s own longer-run record is still coherent. Its High Risk profile and bank-heavy portfolio mean it is best read as a concentrated financial-services bet rather than a diversified equity holding. That mix makes it more suitable for investors with a longer horizon and a tolerance for swings.

Published on 18 September 2026 at 3:55 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.