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

ICICI Pru Infrastructure Fund Direct Growth Plan is at ₹223.82 as of 04 Sep 2026, with an AUM of ₹8,522 Cr. Its 1-year, 3-year and 5-year returns are 7.26%, 18.65% and 22.64%, and it sits in the High Risk category.

Our view is that this is a fund for investors who can handle sharp swings in an infrastructure-led equity strategy and are willing to stay invested through uneven shorter-term moves. The longer track record is much stronger than the recent 1-year number, so the fund looks better suited to a patient horizon than a short holding period.

Quick facts

Particular	Details
NAV	₹223.82 as of 04 Sep 2026
AUM	₹8,522 Cr
Expense Ratio	1.13%
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	Sanket Gaidhani

The fund is managed by Sanket Gaidhani.

Source data date: as of 04 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.02%	-2.95%
3M	3.88%	2.27%
1Y	7.26%	-4.43%
3Y	18.65%	5.88%
5Y	22.64%	6.29%

The recent pattern is mixed, but the fund has stayed ahead of the benchmark over every horizon shown. The 1-month return was nearly flat, which suggests the portfolio did not add much in the latest stretch, while the 3-month number points to a firmer recovery. That is consistent with a strategy that can move around more than the market while still capturing the stronger parts of the cycle.

Over 1 year, the gap versus Nifty 50 is wide because the benchmark was negative while the fund remained positive. The 3-year and 5-year returns show a more meaningful compounding record, with the fund comfortably ahead of the benchmark in both periods. That tells us the longer-term path has been better than the short-term backdrop.

The time pattern also suggests some volatility along the way rather than a straight upward line. The fund has had periods of weakness and then recovery, which is typical of a sector-oriented equity portfolio. For investors, the key point is that recent steadiness does not fully describe the longer record; the longer numbers are stronger than the latest 1-year figure alone.

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

Source data date: as of 04 Sep 2026

Should you BUY or HOLD ICICI Pru Infrastructure?

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 Infrastructure Fund Direct Growth Plan	7.26%	18.65%	22.64%
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan	71.27%	36.22%	Data not available
SBI Automotive Opportunities Fund Direct Growth Plan	30.18%	Data not available	Data not available
Kotak Healthcare Fund Direct Growth Plan	27.22%	Data not available	Data not available
HDFC Pharma and Healthcare Fund Direct Growth Plan	26.94%	Data not available	Data not available
Motilal Oswal Active Momentum Fund Direct Growth Plan	26.86%	Data not available	Data not available

The fund’s 1-year return is well below the strongest peer figures shown here, but the comparison becomes more balanced over longer periods because several peers do not have 3-year or 5-year figures available. On the data that is available, this fund’s 3-year and 5-year returns are solid, though not as high as the 3-year figure shown for the ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan.

The short-term picture and the longer-term picture do not tell the same story. The 1-year number looks modest beside several peers, while the 3-year and 5-year track record is much more established and stronger than the benchmark. In our view, that makes the fund’s longer-run compounding more important than a single recent year when assessing fit.

Source data date: as of 04 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Interglobe Aviation Ltd.	Aviation	7.9%
Larsen & Toubro Ltd.	Infrastructure	5.86%
Reliance Industries Ltd.	Crude Oil	4.65%
Oberoi Realty Ltd.	Realty	4.37%
NTPC Ltd.	Power	3.51%
Shree Cements Ltd.	Construction Materials	3.27%
HDFC Bank Ltd.	Bank	2.95%
Brigade Enterprises Ltd.	Realty	2.9%
TREPS	Cash & Cash Equivalents and Net Assets	2.83%
Kalpataru Projects International Ltd	Infrastructure	2.77%

The largest holding, Interglobe Aviation Ltd., stands at 7.9%, so it is large enough to matter without dominating the scheme on its own. The weight then steps down through a mix of industrial, realty, energy and financial names, with the tenth holding at 2.77%. That pattern suggests the top positions are meaningful but not excessively concentrated in a single stock.

The top 10 holdings account for approximately 41.01% of the portfolio, and there are 49 disclosed holdings in total. That combination points to a portfolio that may still be driven by a relatively focused core, while the rest of the holdings create a longer tail of smaller positions. In practice, the fund’s outcomes are likely to be influenced more by a handful of larger names than by the far end of the book.

Because the leading positions are spread across different sectors, the portfolio may benefit from multiple infrastructure-linked themes rather than a single company-specific bet. At the same time, the fund’s High Risk label means those positions can still move unevenly together when the broader cycle turns.

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

Source data date: as of 04 Sep 2026

Who should invest

This fund fits investors who can tolerate High Risk and want exposure to a cyclical equity theme with a long enough holding period to absorb uneven stretches. The 1-year return is much softer than the 3-year and 5-year figures, so the best fit is someone who can look beyond short-term variability and judge the fund over a full cycle.

The main trade-off is straightforward: the portfolio has shown the ability to beat the benchmark over time, but the ride can be choppy and the recent year has not been as strong as the longer record. Investors who prefer steadier outcomes or who need a near-term objective may find that mismatch uncomfortable, while patient investors may be more comfortable with the 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 04 Sep 2026

Frequently asked questions

What is the current NAV of ICICI Pru Infrastructure Fund Direct Growth Plan?
The current NAV is ₹223.82 as of 04 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s returns are 7.26% over 1 year, 18.65% over 3 years and 22.64% over 5 years.

How does it compare with the benchmark?
It has stayed ahead of Nifty 50 across the periods shown. The benchmark was -4.43% over 1 year, 5.88% over 3 years and 6.29% over 5 years, while the fund was positive in each case.

How does it compare with the peer funds shown here?
Its 1-year return is lower than the stronger peer figures shown, but the longer-term picture is steadier because several peer funds do not have 3-year or 5-year figures available. On the available numbers, the fund’s 3-year and 5-year returns remain meaningful.

Is there a minimum SIP amount?
Yes. The minimum SIP amount is ₹100.

Who manages the fund and what is the exit load?
The fund is managed by Sanket Gaidhani. The exit load is 1% if units are sold on or before 15 days and nil after 15 days.

Bottom line

ICICI Pru Infrastructure Fund Direct Growth Plan shows a clearer longer-term story than a short-term one. The recent 1-year return is modest relative to several peers, but the 3-year and 5-year numbers are stronger and remain well ahead of the benchmark. With a High Risk profile and a portfolio led by a few sizable holdings, it is better suited to investors who can stay patient through cyclical swings and judge the fund over a longer horizon rather than a single year.

Published on 5 September 2026 at 4:27 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.