ICICI Prudential Focused Bluechip Equity Fund

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ICICI Prudential Focused Bluechip Equity Fund investment strategy will be to invest in 20 large cap companies from the top 200 stocks listed on the NSE on the basis of market capitalisation. In case, the total assets in this fund crosses Rs.1000 crore then more than top 20 large companies would be added to the portfolio.

A relatively recent entry into a vintage category, this fund has beaten both category and benchmark in five of the seven years since launch. This has earned it a four- to five-star rating for much of the last six years. A well-timed start in the downbeat market of May 2008 helped the fund deliver blockbuster performance in its first year itself.

No index hugger, the fund cherry-picks high-conviction bets. It has a compact and concentrated portfolio, with 50-55 stocks in recent times. This has been maintained despite the asset size burgeoning to over Rs 13,497 crore. The fund has a higher-than-category allocation to large caps; it usually parks 90 per cent plus of its assets in large caps, with 5-10 per cent to mid caps.

ICICI Prudential Focused Bluechip Equity Fund has consistently beaten its benchmark and peers, though the margins of outperformance haven't been large. The fund's one-year return is 3 percentage points ahead of the benchmark and its three- and five-year returns are 4-5 percentage points ahead of the benchmark.

ICICI Prudential Focused Bluechip Equity Fund  only handicap is that it hasn't seen a serious bear market since inception. In 2011 and in 2015, it managed to contain downside well. The fund's manager, Manish Gunwani, has recently quit the fund house. However, the process-driven mandate and a strict large-cap focus make this less of a concern for this fund, especially with the seasoned Sankaran Naren taking over the reins as fund manager.

ICICI Prudential Focused Bluechip Equity Fund is a good fund for conservative investors.

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