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

ICICI Pru Large Cap Fund Direct Growth Plan has a NAV of ₹116.62 as of 09 Sep 2026 and scheme AUM of ₹80,206 Cr. Its 1-year, 3-year and 5-year returns are -3.83%, 10.52% and 11.27%, and the fund carries a High Risk label.

Our view is that this is a large, established large-cap fund with a clear equity orientation and a portfolio that is anchored in banks, financials and other cyclical leaders. The recent 1-year result has been weak, but the 3-year and 5-year figures are still positive, which points to a fund that has participated in longer market cycles more than in the latest one-year stretch.

Quick facts

Particular	Details
NAV	₹116.62 as of 09 Sep 2026
AUM	₹80,206 Cr
Expense Ratio	0.85%
Launch Date	01 Jan 2013
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	1% on or before 1Y, NIL after 1Y
Fund Managers	Sankaran Naren, Vaibhav Dusad, Sharmila Dsilva

The fund is managed by Sankaran Naren, Vaibhav Dusad and Sharmila Dsilva.

Source data date: as of 09 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-4.46%	-4.69%
3M	1.74%	0.93%
1Y	-3.83%	-7.16%
3Y	10.52%	6%
5Y	11.27%	5.87%

The recent pattern is uneven. The 1-month figure is still negative, and the 1-year return also remains below zero, so the fund has not had a clean run over the latest market phase. That said, the 3-month reading has improved and sits ahead of the benchmark over the same span, which suggests the portfolio has regained some traction after earlier softness.

Over longer periods, the picture is better. The 3-year and 5-year returns are both comfortably positive, and both are ahead of the benchmark by a meaningful margin. This tells us the fund has been able to compound through a fuller market cycle better than the benchmark, even though the most recent 12 months have been much less supportive.

The gap between the short-term and longer-term numbers matters. A fund that is positive over 3 years and 5 years but negative over 1 year is usually more useful for investors who can tolerate periods of underperformance and wait for the portfolio’s style to work through a cycle. In our view, this is not a smooth-return fund, but it has shown better medium-term and long-term resilience than the benchmark.

Source data date: as of 09 Sep 2026

Should you BUY or HOLD ICICI Pru Large Cap?

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 Large Cap Fund Direct Growth Plan	-3.83%	10.52%	11.27%
Quant Large Cap Fund Direct Growth Plan	8.13%	13.11%	Data not available
Taurus Large Cap Fund Direct Growth Plan	6.99%	12.61%	10.27%
Bank of India Large Cap Fund Direct Growth Plan	6.82%	12.8%	9.84%
Invesco India Largecap Fund Direct Growth Plan	3.91%	13.77%	11.79%
ITI Large Cap Fund Direct Growth Plan	3.08%	11%	9.6%

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

On the latest one-year figure, the fund trails all four peers with available data, while the same comparison turns more balanced over 3 years because its 10.52% return is still healthy, though below several peers. Over 5 years, the fund sits ahead of Taurus Large Cap Fund Direct Growth Plan and Bank of India Large Cap Fund Direct Growth Plan, but behind Invesco India Largecap Fund Direct Growth Plan. The short-term comparison therefore looks weaker than the longer-term one, which reinforces the idea that this fund has been more effective across fuller cycles than in the latest year.

Source data date: as of 09 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
ICICI Bank Ltd.	Bank	9.34%
HDFC Bank Ltd.	Bank	7.86%
Reliance Industries Ltd.	Crude Oil	5.59%
Larsen & Toubro Ltd.	Infrastructure	4.11%
Axis Bank Ltd.	Bank	4.08%
Bharti Airtel Ltd.	Telecom	3.98%
TREPS	Cash & Cash Equivalents and Net Assets	3.5%
Maruti Suzuki India Ltd.	Automobile & Ancillaries	2.93%
Ultratech Cement Ltd.	Construction Materials	2.91%
Infosys Ltd.	IT	2.74%

The top 10 holdings account for approximately 47.04% of the portfolio.

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

The single largest holding, ICICI Bank Ltd., is 9.34%, which is large enough to be a meaningful driver of returns but not so large that it dominates the portfolio on its own. The weight then steps down to 7.86%, 5.59% and just above 4% across the next few positions, so the fund’s core exposure is spread across a set of major large-cap names rather than concentrated in one stock.

The decline from the largest holding to the tenth is fairly gradual, which usually points to a diversified large-cap structure within the selected names. Still, the top 10 holdings together make up 47.04% of the portfolio, so the displayed slice may remain influential in performance. With 51 holdings in total, the fund also appears to extend beyond the leading positions into a longer tail, which may help soften single-stock dependence even though the highest weights still matter.

Source data date: as of 09 Sep 2026

Who should invest

This fund suits investors who can accept High Risk exposure and stay invested through uneven stretches. The 1-year weakness shows that near-term outcomes can lag, while the 3-year and 5-year numbers suggest the style has been more rewarding over longer periods.

It fits better as a long-horizon large-cap equity holding than as a short-term parking option. Investors who want benchmark-like large-cap exposure but can tolerate cycles of underperformance may find the return pattern and portfolio mix acceptable.

The main trade-off is between the possibility of stronger medium-term compounding and the reality of volatile shorter-term results. The portfolio’s bank-heavy tilt may add strength when financials lead, but it can also make the journey less even when that theme cools.

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% on or before 1Y, NIL after 1Y.

Source data date: as of 09 Sep 2026

Frequently asked questions

What is the current NAV of ICICI Pru Large Cap Fund Direct Growth Plan?

The current NAV is ₹116.62 as of 09 Sep 2026.

How has the fund performed over 1 year, 3 years and 5 years?

The fund’s returns are -3.83% over 1 year, 10.52% over 3 years and 11.27% over 5 years. That mix shows a weak recent stretch but better medium- and long-term compounding.

How does it compare with its benchmark?

Against Nifty 50, the fund is ahead over 3 years and 5 years, but behind over 1 year and 1 month. The benchmark comparison therefore looks stronger over fuller cycles than in the latest year.

How does it compare with peer large-cap funds?

On the latest 1-year return, it trails the peer funds listed here, while the 3-year and 5-year comparisons are more mixed. The longer-term numbers are competitive, but the recent one-year period is softer than the peer set.

What is the minimum SIP for this fund?

The minimum SIP is ₹100.

What risk level and exit load should investors note?

The fund is in the High Risk category. The exit load is 1% on or before 1 year and NIL after 1 year, and the fund is managed by Sankaran Naren, Vaibhav Dusad and Sharmila Dsilva.

Bottom line

ICICI Pru Large Cap Fund Direct Growth Plan has a mixed recent record but a stronger medium-term and long-term profile. The 1-year result is weak, yet the 3-year and 5-year numbers remain solid and sit ahead of the benchmark. Its bank-heavy top holdings and 51-stock spread suggest a large-cap portfolio with meaningful core positions rather than extreme concentration. For investors comfortable with High Risk equity exposure and a longer holding period, the fund looks more compelling as a cycle-aware large-cap allocation than as a short-term performer.

Published on 10 September 2026 at 9:18 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.