ICICI Pru Business Cycle Fund
The scheme seeks to generate long-term capital appreciation by investing with focus on riding business cycles through allocation between sectors and stocks at different stages of business cycles.
Growthvine rating: 5/5 — ranked #1 of 184 in category.
Fund basics
| Category | Equity: Thematic |
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| NAV | ₹23.20 (as of 2026-10-01) |
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| AUM | ₹15,873 Cr |
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| Expense ratio | 1.42% |
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| Riskometer | Very High |
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| Fund manager | Divya Jain |
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| Exit load | 1% for redemption within 30 days |
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Performance & risk
| 5-year annualised return | 12.93% |
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| Sharpe ratio | 0.72 |
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| Standard deviation | 14.05% |
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| Max drawdown | −14.74% |
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| Alpha | 4.01 |
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| Beta | 0.89 |
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Over 5 years, captured 96.9% of Nifty 500's upside and 74.4% of its downside.
Market cap allocation
| Large cap | 77.2% |
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| Mid cap | 15.1% |
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| Small cap | 7.8% |
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Concentration
| Top 5 holdings | 31.1% |
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| Top 10 holdings | 46.8% |
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| Total holdings | 73 |
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Top holdings
- HDFC Bank Ltd. — 9.0%
- ICICI Bank Ltd. — 7.7%
- TREPS — 7.1%
- Reliance Industries Ltd — 5.4%
- Larsen & Toubro Limited — 4.9%
- Maruti Suzuki India Ltd. — 4.2%
- Kotak Mahindra Bank Ltd. — 3.9%
- DLF LIMITED — 3.1%
- Xtrackers Harvest CSI 300 China A-Shares ETF — 2.9%
- HDFC LIFE INSURANCE COMPANY LIMITED — 2.9%
Top sectors
- Banking & Financial — 23.5%
- Automobile — 12.1%
- Retail — 10.0%
Calendar-year track record
| Year | Return | Quartile | Category rank |
|---|
| 2026 (partial) | −9.8% | Q4 (Bottom) | #142 of 167 |
| 2025 | 15.6% | Q1 (Top) | #10 of 132 |
| 2024 | 20.2% | Q3 | #44 of 86 |
| 2023 | 32.8% | Q2 | #22 of 66 |
| 2022 | 10.3% | Q1 (Top) | #14 of 55 |