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

ICICI Pru Infrastructure Fund Direct Growth Plan is at ₹221.95 as of 09 Sep 2026, with an AUM of ₹8,558 Cr. Its 1-year, 3-year and 5-year returns are 6.38%, 17.8% and 22.3%, and the scheme is tagged High Risk.

Our view is that this is a cyclical equity fund that has rewarded patient holding periods better than recent short stretches. The return profile is stronger over 3 years and 5 years than over 1 year, so it may suit investors who can tolerate sharp swings and want infrastructure-linked exposure rather than a steady benchmark-style ride.

Quick facts

Particular	Details
NAV	₹221.95 as of 09 Sep 2026
AUM	₹8,558 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 09 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-1.14%	-4.69%
3M	4.45%	0.93%
1Y	6.38%	-7.16%
3Y	17.8%	6%
5Y	22.3%	5.87%

The near-term picture is mixed but not weak. The fund fell over the last month, yet it still held up better than the benchmark over the same period, and it also stayed ahead across 3 months, 1 year, 3 years and 5 years. That suggests the strategy has been able to recover from short setbacks while keeping the broader trend positive.

The longer-term numbers matter more here. A 22.3% 5-year return and 17.8% 3-year return point to strong compounding through a full market cycle, especially when the benchmark stayed much lower over the same horizons. The gap versus Nifty 50 is wide over 3 years and 5 years, so the fund has clearly behaved differently from a plain market-cap index.

The short-term pattern is less smooth than the longer-term trend. The recent month slipped after a stronger 3-month run, which fits a fund that is likely influenced by cyclical and infrastructure-linked names. That kind of path can work over time, but it also means the ride is likely to be choppier than a broad index fund.

For investors, the key point is that recent softness has not broken the longer-term compounding pattern. The fund has stayed ahead of the benchmark across every supplied period, but it has done so with visible ups and downs, which is important for setting expectations.

Source data date: as of 09 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	6.38%	17.8%	22.3%
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan	71.49%	36.55%	Data not available
Motilal Oswal Active Momentum Fund Direct Growth Plan	30.08%	Data not available	Data not available
Kotak Healthcare Fund Direct Growth Plan	28.85%	Data not available	Data not available
HDFC Pharma and Healthcare Fund Direct Growth Plan	28.6%	Data not available	Data not available
PGIM India Healthcare Fund Direct Growth Plan	27.47%	Data not available	Data not available

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

The current fund’s 1-year return is well below the fastest recent peer numbers, but the comparison changes when we look longer term. Its 3-year and 5-year figures are available and strong, while most peer rows here do not provide those longer windows. That makes the fund look more established on multi-year compounding than on the latest 12-month stretch.

So the peer set tells two different stories. In the short run, several peers have much higher 1-year returns; over longer periods, the current fund has the advantage of a visible 3-year and 5-year track record, which gives a fuller picture of how the strategy has behaved through time.

Source data date: as of 09 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Interglobe Aviation Ltd.	Aviation	8.27%
Larsen & Toubro Ltd.	Infrastructure	5.56%
Reliance Industries Ltd.	Crude Oil	4.52%
Oberoi Realty Ltd.	Realty	4.45%
NTPC Ltd.	Power	3.3%
Brigade Enterprises Ltd.	Realty	3.26%
Kalpataru Projects International Ltd	Infrastructure	3%
Shree Cements Ltd.	Construction Materials	2.9%
HDFC Bank Ltd.	Bank	2.78%
Cummins India Ltd.	Automobile & Ancillaries	2.55%

The top 10 holdings account for approximately 40.59% of the portfolio.

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

The largest holding, Interglobe Aviation Ltd. at 8.27%, is meaningfully larger than the rest of the listed positions. The next few holdings step down fairly gradually, but the gap from the largest name to the tenth holding at 2.55% still shows that individual positions can matter.

At the same time, the weights are not overly dependent on one or two stocks alone. The top 10 positions together account for 40.59% of the portfolio, which suggests the rest of the 50 disclosed holdings carry a long tail of smaller positions that may help spread exposure.

Our view is that this kind of structure may give the fund room to express a few high-conviction ideas while still keeping a broader base underneath. That can support upside if the larger positions work, but it can also make the portfolio more sensitive to stock-specific moves than a very evenly spread strategy.

Source data date: as of 09 Sep 2026

Who should invest

This fund fits investors who are comfortable with High Risk equity exposure and can stay invested for a longer horizon. The 1-year result is modest compared with the stronger 3-year and 5-year pattern, so it is better suited to investors who can look through short-term unevenness and focus on multi-year compounding.

The main trade-off is that the fund’s stronger long-run record comes with more volatility than a broad benchmark style approach. Investors who want infrastructure exposure and can tolerate swings in shorter periods may find that trade-off reasonable, while those who need smoother near-term outcomes may not.

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. No exit load applies after that holding period.

Source data date: as of 09 Sep 2026

Frequently asked questions

What is the current NAV of ICICI Pru Infrastructure Fund Direct Growth Plan?
The current NAV is ₹221.95 as of 09 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is 6.38%, the 3-year return is 17.8% and the 5-year return is 22.3%.

How has the fund performed versus Nifty 50?
It has stayed ahead of the benchmark across the supplied 1-month, 3-month, 1-year, 3-year and 5-year periods. The gap is especially wide over 3 years and 5 years.

How does it compare with the listed peer funds on 1-year return?
Its 1-year return of 6.38% is below the listed peer funds with available 1-year figures, which range from 27.47% to 71.49%.

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 no exit load applies after that holding period.

Bottom line

ICICI Pru Infrastructure Fund Direct Growth Plan shows a clear split between recent and longer-term behaviour: the latest 1-year period is modest, while the 3-year and 5-year records are much stronger and well ahead of the benchmark. Compared with the listed peers, its short-term figure is lower, but its multi-year track record is more complete. The portfolio is led by a relatively large first holding, so the fund may be more sensitive to individual stock moves than a very broad equity scheme. It suits investors who can accept High Risk and stay patient through uneven stretches.

Published on 10 September 2026 at 9:27 AM 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.