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 5 m old fund and has delivered average annual returns of 23.44% since inception. ICICI Prudential Business Cycle Fund Returns 1-Year 3-Year Since Inception 11.7% 25.22% 23.44%

NAV as of Jun 05, 2025	Returns since inception	ET Money Rank	AUM (Fund size)
₹25.21+0.4% 1 day change	23.44% p.a.	#NA View Ranked Funds	₹12,375 Crs

Historical NAV & returns

NAV: ₹25.21 as on Jun 05, 2025

This fund Category average

ICICI Prudential Business Cycle Fund overview

Expense ratio	0.72% as on May 31, 2025
Exit load	1.0% Exit load of 1% if redeemed within 1 month!
AUM (Fund size)	₹12,375 Crs
Lock-in	No Lockin
Age	4 yrs 5 m since Dec 29, 2020
Benchmark	NIFTY 500 TRI
Min. investment	SIP ₹100 & 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 Jun 03, 2025

Period	This fund	Category average
1 Month	3.55%	4.88%
3 Months	12.3%	11.29%
6 Months	2.99%	-2.92%
1 Year	11.7%	8.57%
2 Years	28.44%	24.09%
3 Years	25.22%	22.07%
4 Years	21.09%	17.96%

View returns in detail

Asset allocationas on Apr 30, 2025

Large Cap 77.896599%

Mid Cap 9.600492%

Small Cap 5.8929089999999995%

Other Cap 0.0%

Top holdings

HDFC Bank Ltd.9.52%

ICICI Bank Ltd.9.31%

Larsen & Toubro Ltd.6.66%

Reliance Industries Ltd.5.25%

Top sectors

Financial 29.31%

Automobile 10.339999999999998%

Energy 9.85%

Construction 8.41%

Credit quality

Bifurcation by Credit Quality is not available for this fund

Top Debt Holdings

Reserve Bank of India 0.84%

Allocation by Instruments

Repo 8.24691399%

Index Derivatives 3.55360814%

Foreign Mutual Funds 2.8348358%

Treasury Bills 0.84116623%

Other Holdings

Xtrackers Harvest CSI 300 China A-Shares ETF 2.83%

Others 0.19%

Detailed portfolio analysis

Peer comparison

Fund name	ETM Rank	AUM (in Crs.)	Fund age	Expense ratio
ICICI Prudential Business Cycle Fund	N.A.	₹12,375 Crs	4 yrs 5 m	0.72%
ICICI Prudential India Opportunities Fund	N.A.	₹27,197 Crs	6 yrs 5 m	0.63%
SBI Contra Fund	N.A.	₹44,069 Crs	12 yrs 5 m	0.62%
ICICI Prudential Value Discovery Fund	N.A.	₹51,112 Crs	12 yrs 5 m	0.99%
ICICI Prudential Dividend Yield Equity Fund	N.A.	₹5,231 Crs	11 yrs 1 m	0.58%
ICICI Prudential India Equity FOF	N.A.	₹168 Crs	5 yrs 4 m	0.63%

Fund name	1M	6M	1Y	3Y	5Y	10Y
ICICI Prudential Business Cycle Fund	3.55%	2.99%	11.7%	25.22%	N.A.	N.A.
ICICI Prudential India Opportunities Fund	3.12%	2.13%	14.56%	27.6%	32.99%	14.27%
SBI Contra Fund	2.68%	-2.65%	6.83%	25.09%	34.48%	17.15%
ICICI Prudential Value Discovery Fund	2.66%	1.93%	13.95%	23.83%	28.82%	16.1%
ICICI Prudential Dividend Yield Equity Fund	2.13%	1.19%	10.97%	26.7%	32.59%	17.15%
ICICI Prudential India Equity FOF	3.03%	-0.4%	11.61%	23.28%	28.77%	12.18%

Fund name	Std. deviation	Beta	Sharpe	Sortino
ICICI Prudential Business Cycle Fund	12.99	0.85	1.3	2.72
ICICI Prudential India Opportunities Fund	12.33	0.8	1.52	3.0
SBI Contra Fund	12.89	0.86	1.32	2.19
ICICI Prudential Value Discovery Fund	12.0	0.77	1.32	2.3
ICICI Prudential Dividend Yield Equity Fund	13.04	0.84	1.42	2.3
ICICI Prudential India Equity FOF	12.58	0.84	1.22	2.02

View all Strategy funds

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

Alpha	7.11 vs. 5.56 Higher outperformance against benchmark
Sharpe	1.3 vs. 5.86 Poor risk-adjusted returns
Beta	0.85 vs. 0.85 More sensitive to market's ups & downs
Standard deviation	12.99 vs. 9.89 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 Strategy mutual fund scheme from Icici Prudential Mutual Fund. This fund has been in existence for 4 yrs 5 m, having been launched on 29/12/2020. ICICI Prudential Business Cycle Fund Direct - Growth has ₹12,375 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 05/06/2025 is ₹25.21. The fund has an expense ratio of 0.72%, which is close to what most other Strategy funds charge.

ICICI Prudential Business Cycle Fund Direct - Growth returns of last 1-year are 13.00%. Since launch, it has delivered 23.50% 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 high.
The fund has the majority of its money invested in Financial, Automobile, Energy, Construction, Materials sectors. It has taken less exposure in Financial, Automobile 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	₹12,375 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	97 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 Infrastructure Fund	N.A.	₹7,416 Crs	9.84%	38.23%
ICICI Prudential Commodities Fund	N.A.	₹2,620 Crs	1.86%	37.15%
ICICI Prudential Smallcap Fund	N.A.	₹7,605 Crs	5.87%	35.04%
ICICI Prudential India Opportunities Fund	N.A.	₹27,197 Crs	14.56%	32.99%
ICICI Prudential BHARAT 22 FOF Scheme	N.A.	₹2,271 Crs	1.97%	32.75%
ICICI Prudential Dividend Yield Equity Fund	N.A.	₹5,231 Crs	10.97%	32.59%

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 ₹25.21 as of Jun 05, 2025.

What are the returns of this mutual fund scheme?

The ICICI Prudential Business Cycle Fund is a 4 yrs 5 m old fund and has delivered average annual returns of 23.44% since inception.

ICICI Prudential Business Cycle Fund Returns

1-Year	3-Year	Since Inception
11.7%	25.22%	23.44%

How much does this mutual fund charge as expense ratio?

The ICICI Prudential Business Cycle Fund - Direct Growth has an expense ratio of 0.72%, 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 ₹12,375 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.	9.52%
ICICI Bank Ltd.	9.31%
Larsen & Toubro Ltd.	6.66%
Reliance Industries Ltd.	5.25%
Ultratech Cement Ltd.	4.23%
Maruti Suzuki India Ltd.	4.18%
Axis Bank Ltd.	3.59%
Nifty 50	3.55%
Bharti Airtel Ltd.	3.45%
Sun Pharmaceutical Industries Ltd.	3.03%

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	29.31%
Automobile	10.339999999999998%
Energy	9.85%
Construction	8.41%
Materials	6.9%
Capital Goods	5.32%
Insurance	5.29%
Healthcare	4.84%
Services	3.4699999999999998%
Communication	3.45%

What is risk level of ICICI Prudential Business Cycle Fund?

This is a Strategy 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.