ICICI Prudential Equity & Debt Fund completes 23 years; monthly SIP of Rs 10,000 grows to Rs 2.4 crore

ICICI Prudential Equity & Debt Fund has come a long way since its introduction on 3 November 1999. The investment scheme recently completed 23 years. This program is among the biggest in its category in terms of assets, with an Asset Under Management (AUM) of more than Rs 21,000 crore. Sankaran Naren, Mittul Kalawadia, Manish Banthia, Nikhil Kabra, and Sri Sharma are currently in charge of managing the scheme. According to a release from ICICI Prudential AMC, a lump sum investment of Rs 10 lakh in this plan at the time of its launch would be roughly worth Rs 2.4 crore as of 31 October 2022. The same investment would have generated about Rs 1.8 crore if it had been made in Nifty 50 TRI, an additional benchmark of the plan. The ICICI Prudential Equities & Debt Fund is an open-ended, aggressive hybrid scheme which invests primarily in stocks and products related to equity. The scheme maintains a debt exposure of between 20 per cent and 35 per cent while keeping an equity exposure between 65 per cent and 80 per cent. Following the landmark of as many as 23 years, Abhijit Shah, Head- Marketing, Digital & Customer Experience of ICICI Prudential AMC, stated that ICICI Prudential Equity & Debt Fund has withstood the test of time and the markets over the decades. “We are happy that customers who came on board at varying points in this wealth creation journey could experience a positive investment experience. The scheme aims to provide a mix of two asset classes – equity and debt. Such an approach over the long term has aided investors to generate wealth while limiting the portfolio downside during market downturns,” he added. The allocation strategy for equities invests across market capitalization while remaining sector-neutral. When it comes to debt, the plan can strategically distribute funds among thoroughly investigated corporate securities and longer-duration fixed-income assets with a credit rating of AA and above, which can provide fair accrual. Read all the Latest News , Trending News , Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.