ICICI Prudential Business Cycle Fund Direct - Growth

Q: What are the returns of ICICI Prudential Business Cycle Fund?

The ICICI Prudential Business Cycle Fund is a 4 yrs 3 m old fund and has delivered average annual returns of 23.14% since inception. ICICI Prudential Business Cycle Fund Returns 1-Year 3-Year Since Inception 11.16% 22.86% 23.14%

NAV as of Apr 23, 2025	Returns since inception	ET Money Rank	VRO Ratings
₹24.31+0.58% 1 day change	23.14% p.a.	#NA View Ranked Funds	N.A.

Historical NAV & returns

NAV: ₹24.31 as on Apr 23, 2025

This fund Category average

ICICI Prudential Business Cycle Fund overview

VRO rating	N.A.
Expense ratio	0.82% as on Mar 31, 2025
Exit load	1.0% Exit load of 1% if redeemed within 1 month!
AUM (Fund size)	₹11,894 Crs
Lock-in	No Lockin
Age	4 yrs 3 m since Dec 29, 2020
Benchmark	NIFTY 500 TRI
Min. investment	SIP ₹500 & Lump. ₹5000
Risk	Very High
Short term capital gains (STCG)	Returns taxed at 20% if you redeem before 1 year
Long term capital gains (LTCG)	After 1 year, pay tax of 12.5% on returns of ₹1.25 lakh+ in a financial year

ICICI Prudential Business Cycle Fund Returns calculator

Investment type

Monthly investment

₹ 10,000

Investment period

Lumpsum investment

₹1 lakh

Investment period

Disclaimer: Products compared like fixed deposits may provide fixed guaranteed returns. Mutual Funds investments are subject to market risk, read all scheme related documents carefully. Past performance is not an indicator of future returns.

Total investment ₹ 12 lakh
Profit ₹12 lakhs
Total corpus ₹1 lakh
Absolute return 52.69%

Trailing returns as on Apr 09, 2025

Period	This fund	Category average
1 month	3.23%	3.33%
3 months	7.28%	3.17%
6 months	0.7%	-3.92%
1 year	11.16%	8.22%
3 years	22.86%	20.33%

Asset allocationas on Mar 31, 2025

Large Cap 73.159636%

Mid Cap 8.938413%

Small Cap 5.791951%

Other Cap 0.0%

Top holdings

HDFC Bank Ltd.9.41%

ICICI Bank Ltd.9.15%

Larsen & Toubro Ltd.7.12%

Reliance Industries Ltd.5.76%

Top sectors

Financial 25.939999999999998%

Energy 9.88%

Automobile 9.469999999999999%

Construction 8.9%

Credit quality

Bifurcation by Credit Quality is not available for this fund

Top Debt Holdings

Reserve Bank of India 1.48%

Allocation by Instruments

Repo 8.46708774%

Cash Margin 3.22149672%

Foreign Mutual Funds 3.05278087%

Treasury Bills 1.47533618%

Other Holdings

Others 3.22%

Xtrackers Harvest CSI 300 China A-Shares ETF 3.05%

Peer comparison

Fund name	ETM Rank	AUM (in Crs.)	Fund age	Expense ratio
ICICI Prudential Business Cycle Fund	N.A.	₹11,894 Crs	4 yrs 3 m	0.82%
HSBC Business Cycles Fund	N.A.	₹967 Crs	10 yrs 8 m	1.12%
Quant Business Cycle Fund	N.A.	₹1,238 Crs	1 yrs 11 m	0.49%
Axis Business Cycles Fund	N.A.	₹2,295 Crs	2 yrs 2 m	0.7%
Tata Business Cycle Fund	N.A.	₹2,735 Crs	3 yrs 9 m	0.54%

Fund name	1M	6M	1Y	3Y	5Y	10Y
ICICI Prudential Business Cycle Fund	3.23%	0.7%	11.16%	22.86%	N.A.	N.A.
HSBC Business Cycles Fund	3.34%	-4.74%	12.74%	23.25%	30.37%	14.03%
Quant Business Cycle Fund	2.11%	-10.85%	-1.5%	16.66%	9.68%	4.73%
Axis Business Cycles Fund	3.4%	-2.07%	8.33%	17.17%	9.98%	4.87%
Tata Business Cycle Fund	3.53%	-4.83%	5.91%	22.08%	14.15%	6.84%

Fund name	Std. deviation	Beta	Sharpe	Sortino
ICICI Prudential Business Cycle Fund	13.1	0.83	1.09	2.35
HSBC Business Cycles Fund	17.96	1.1	0.81	1.24
Quant Business Cycle Fund	N.A.	N.A.	N.A.	N.A.
Axis Business Cycles Fund	N.A.	N.A.	N.A.	N.A.
Tata Business Cycle Fund	14.86	0.97	0.88	1.5

View all Business Cycle funds

Key risk & return ratios Compared to other funds in the category

Alpha	7.72 vs. 4.36 Higher outperformance against benchmark
Sharpe	1.09 vs. 2.16 Poor risk-adjusted returns
Beta	0.83 vs. 0.46 More sensitive to market's ups & downs
Standard deviation	13.1 vs. 5.43 More volatile performance

Compare ICICI Prudential Business Cycle Fund in detail with

About this fund

About ICICI Prudential Business Cycle Fund

ICICI Prudential Business Cycle Fund Direct - Growth is a Business Cycle mutual fund scheme from Icici Prudential Mutual Fund. This fund has been in existence for 4 yrs 3 m, having been launched on 29/12/2020. ICICI Prudential Business Cycle Fund Direct - Growth has ₹11,894 Crores worth of assets under management (AUM) as on 31/03/2025 and is medium-sized fund of its category. The latest Net Asset Value (NAV) of ICICI Prudential Business Cycle Fund Direct - Growth as of 23/04/2025 is ₹24.31. The fund has an expense ratio of 0.82%, which is close to what most other Business Cycle funds charge.

ICICI Prudential Business Cycle Fund Direct - Growth returns of last 1-year are 11.51%. Since launch, it has delivered 23.17% average annual returns. The fund has doubled the money invested in it every 3 yrs.
ICICI Prudential Business Cycle Fund Direct - Growth scheme's ability to deliver returns consistently is in-line with most funds of its category. Its ability to control losses in a falling market is above average.
The fund has the majority of its money invested in Financial, Energy, Automobile, Construction, Materials sectors. It has taken less exposure in Financial, Energy sectors compared to other funds in the category.
The fund's top 5 holdings are in HDFC Bank Ltd., ICICI Bank Ltd., Larsen & Toubro Ltd., Reliance Industries Ltd., Ultratech Cement Ltd..

...

Fund AUM	₹11,894 Crs as on Mar 31, 2025
Scheme document	View Scheme Document

Fund managers

Manish Banthia

Mr. Banthia is B.Com, CA and MBA He is associated with ICICI Prudential Asset Management Company since Oct 2005, ICICI Prudential AMC - Fixed Income Investments - Aug 2007 to Oct 2009, ICICI Prudential AMC - New Product Development - Oct 2005 to Jul 2007, Aditya Birla Nuvo Ltd. - From May 2005 to Oct 2005, Aditya Birla Management Corporation Ltd. - From May 2004 to May 2005.

Anish Tawakley

Mr. Tawakley has done PGDM (MBA) from IIM Bangalore and B. Tech (Mechanical Engineering) from IIT Delhi Prior joining to ICICI AMC he has worked with Barclays India - Equity Research, Credit Suisse India - Equity research - Indian financial services sector,

Lalit Kumar

Mr. Kumar is a PGDM (IIM) and B.Tech in Electrical Engineering (IIT). Prior to joining ICICI Prudential Mutual Fund, he has worked with East Bridge Advisors Pvt. Ltd, Nomura Financial Advisory & Securities, Merrill Lynch and Cypress Semiconductors.

Investment objective

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.

ICICI Prudential Mutual Fund details

No. of schemes	98 view all schemes
Total AUM	₹9,14,878 Crs as on Mar 31, 2025
Address	One BKC , A Wing , 13th Floor, Bandra Kurla Complex, Mumbai, 400051

More funds from ICICI Prudential Mutual Fund

Fund name	ETM Rank	AUM (in Crs.)	1Y	5Y
ICICI Prudential Commodities Fund	N.A.	₹2,615 Crs	-0.94%	41.19%
ICICI Prudential Infrastructure Fund	N.A.	₹7,214 Crs	7.13%	40.43%
ICICI Prudential India Opportunities Fund	N.A.	₹25,696 Crs	15.11%	36.55%
ICICI Prudential Smallcap Fund	N.A.	₹7,392 Crs	3.82%	35.71%
ICICI Prudential Dividend Yield Equity Fund	N.A.	₹4,995 Crs	12.74%	35.27%
ICICI Prudential BHARAT 22 FOF Scheme	N.A.	₹2,206 Crs	2.98%	34.76%

See all Equity funds from this AMC

Frequently asked questions

What is the current NAV of ICICI Prudential Business Cycle Fund?

The current Net Asset Value (NAV) of the ICICI Prudential Business Cycle Fund - Direct Growth plan is approximately ₹24.31 as of Apr 23, 2025.

What are the returns of this mutual fund scheme?

The ICICI Prudential Business Cycle Fund is a 4 yrs 3 m old fund and has delivered average annual returns of 23.14% since inception.

ICICI Prudential Business Cycle Fund Returns

1-Year	3-Year	Since Inception
11.16%	22.86%	23.14%

How much does this mutual fund charge as expense ratio?

The ICICI Prudential Business Cycle Fund - Direct Growth has an expense ratio of 0.82%, which reflects the fund's management and operating costs. This percentage is subtracted from the fund's annual returns, impacting net returns for investors.

What is the AUM or fund size of this mutual fund?

The ICICI Prudential Business Cycle Fund currently has assets under management (AUM) or fund size valued at approximately ₹11,894 Crs crore as of Mar 31, 2025.

What are the top stock holdings of ICICI Prudential Business Cycle Fund?

The ICICI Prudential Business Cycle Fund has invested the majority of its money in the stocks of the following companies -

Company	Percentage of Portfolio
HDFC Bank Ltd.	9.41%
ICICI Bank Ltd.	9.15%
Larsen & Toubro Ltd.	7.12%
Reliance Industries Ltd.	5.76%
Ultratech Cement Ltd.	4.45%
Maruti Suzuki India Ltd.	4.08%
Axis Bank Ltd.	3.47%
Bharti Airtel Ltd.	3.34%
Cummins India Ltd.	3.21%
Hero Motocorp Ltd.	2.48%

What are the top sectors ICICI Prudential Business Cycle Fund has invested in?

The ICICI Prudential Business Cycle Fund has primarily invested in the following sectors

Sector	Percentage of Portfolio
Financial	25.939999999999998%
Energy	9.88%
Automobile	9.469999999999999%
Construction	8.9%
Materials	7.48%
Capital Goods	5.78%
Insurance	5.0600000000000005%
Services	3.65%
Communication	3.34%
Healthcare	3.2699999999999996%

What is risk level of ICICI Prudential Business Cycle Fund?

This is a Business Cycle fund comes with Very High risk.

Is there any lock-in period in this mutual fund?

No, this fund does not have any lock-in period.

How do I invest in ICICI Prudential Business Cycle Fund?

It is very fast, easy, and completely paperless in this mutual fund scheme on ET Money. It is just a matter of a few minutes. Here's how:

For the Desktop Version:

Click on the "Invest Now" button at the top right, then scan the QR code to download the app.

For the Mobile Version:

Click on the "Invest on App" button at the bottom to download the app.
Once the app is downloaded:
Sign-up and complete your one time KYC process, or log in if you're already registered.
Search for ICICI Prudential Business Cycle Fund and choose the investment mode (Lump sum investment or a SIP). Then, enter your investment amount.
Fill in additional required details, including the bank account you'll use for payment, and confirm.

All set! Your investment in ICICI Prudential Business Cycle Fund is complete.

How can I redeem my investments in ICICI Prudential Business Cycle Fund?

Redeeming your investments in ICICI Prudential Business Cycle Fund is super easy. If you have invested in this fund via ET Money, just login into the app, go to the investment section and put the redemption request.

If you have invested in ICICI Prudential Business Cycle Fund from anywhere else, you can go to the fund house website and put a request through it.

ET Money rank

in Business Cycle

#NA

Return Outperformance: This fund has generated highest return amongst Business Cycle funds in the last 3 Years.
Age: This is the 2nd oldest Business Cycle fund.
Return/Risk: The fund is performing poorly than its category.
Exit Load: Exit load of 1% if redeemed within 1 month