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ICICI Pru Growth Leaders

AUM (1504 cr) | Inc Date (22-Dec-2000)

Scheme Rating

IME Scheme Rating

3 of 5 stars

ICICI Pru Growth Leaders is a flexi-cap strategy. While ICICI Pru PMS suffers from common MF-founded PMS concerns (churn in the investment team, lack of a tightly defined investment strategy), we take into cognisanse it’s strong & consistent performance since inception & the presence of Anand Shah (a senior investment professional). While performance in recent years has clearly picked up, it has failed to deliver substantial outperformance to the benchmark over the longer-term.

IME Strategy Rating

3 of 5 stars

ICICI Pru Growth Leaders Fund aims to achieve long-term capital appreciation by primarily investing in a diversified portfolio of high-growth companies with strong fundamentals and growth potential. The fund focuses on identifying companies with sustainable competitive advantages, solid management teams, and potential for future growth in order to generate superior returns for investors.

AMC Rating

3 of 5 stars

AMC: ICICI Pru PMS (click link for detailed AMC review)

ICICI Pru PMS faces common issues seen in large MF-driven PMS firms, such as PMS being an add-on instead of a separate business unit, turnover in the investment team, lack of commitment from the CIO, and loosely defined investment strategies. While the AMC’s distribution capabilities can aid in growth and provide research access, MF-driven PMSs generally do not measure up to PMS firms led by strong CIO-founders.

PMS Scheme Ratings are driven by IME’s Proprietary Scheme Rating Methodology, which takes into account our ratings of the Scheme’s investment strategy, its maturity, the investment team, and our separate rating on the AMC that runs this particular scheme. Our views on each of these individual criteria are available via the IME RMS – which you can view by reaching out to one of our relationship managers (using either the live chat or book appointment feature on this site).

Investment Strategy

ICICI Prudential Growth Leaders Strategy follows a high-quality, long-term investment approach that focuses on companies with strong earnings growth, scalable businesses, and sustainable competitive advantages. The strategy employs a blend of top-down and bottom-up research to identify leaders across various industries, ensuring long-term capital appreciation

Core Investment Approach

BMV Framework for Stock Selection:

  • Business (B): Companies with meaningful earnings growth, industry leadership, and strong economic moats.
  • Management (M): Focus on strong, ethical, and growth-oriented leadership teams.
  • Valuation (V): Invests at reasonable valuations to maximize risk-adjusted returns.

Focus on Market Leaders with Secular Growth:

  • Companies that consistently improve profit margins and return on equity (ROE).
  • Identifies businesses that leverage pricing power and scale efficiently.

Scalability and Innovation as Key Drivers:

  • Prefers companies expanding market share and operating in high-growth industries.
  • Emphasis on innovation and new product launches to sustain competitive positioning.

Portfolio Construction & Risk Management:

  • 25-30 stock portfolio, diversified across market capitalizations.
  • Benchmark-agnostic approach, dynamically adjusting weights based on risk-reward trade-offs.
  • Systematic rebalancing to capitalize on valuation shifts and business performance changes.

Trailing Performance

1yr 3yr 5yr Since Inception
ICICI Pru Growth Leaders 5.9 16.6 27.2 12.1
S&P BSE 500 4.8 12.3 24.8 12.7
Alpha over Broad Mkt BM 1.1 4.3 2.4 -0.6
S&P BSE 500 4.8 12.3 24.8
Alpha over Category BM 1.1 4.3 2.4

Performance as of: 31-Mar-25 | Inception Date: 22-Dec-00

Fund Managers

Anand Shah | 4-star rated FM

Fund Manager | 25 yrs Experience | 4 yrs at current firm

Past Experience: VP investments (Kotak MF), Co-Head Equities (ICICI Pru AMC), Head Equities (Canara Robeco AMC), Dy CEO & Head of Investments (BNP Paribas Asset Management), CEO (NJ Asset Management)

Chockalingam Narayanan | 3-star rated FM

Fund Manager

Past Experience: Fund Manager (BNP Paribas), Deutche Equities, Batlivala & Karani Securities

Narayanan has 15+ years of experience in fund management, and investment research. Prior to joining ICICI Pru AMC, he was at BNP Paribas, Deutche Equities and Batlivala & Karani Securities. He has a PGDM from TA Pai Management Institute, Manipal. He also passed the FRM certification by Global Association of Risk Professionals, USA.

Fee Structure

Fee Structure Fee
Fixed Fee Structure 2.5
Variable Fee Structures 1.5% fixed + 20% above 10% hurdle
Exit Fees 1yr (1%)

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