ICICI Prudential Business Cycle Fund

Q: What are the returns of this mutual fund scheme?

The ICICI Prudential Business Cycle Fund is a 4 yrs 9 m old fund and has delivered average annual returns of 21.62% since inception. ICICI Prudential Business Cycle Fund Returns 1-Year 3-Year Since Inception 11.23% 22.71% 21.62%

NAV as of Oct 20, 2025	Returns since inception	ET Money Rank	AUM (Fund size)
₹25.42+0.28% 1 day change	21.62% p.a.	App exclusive #NA View Ranked Funds	₹14,148 Cr

Historical NAV & returns

NAV: ₹25.42 as on Oct 20, 2025

This fund Category average

ICICI Prudential Business Cycle Fund overview

AUM (Fund size)	₹14,148 Cr
Exit load	1.0% Exit load of 1% if redeemed within 1 month!
Lock-in Period	Nil
Age	4 yrs 9 m since Dec 29, 2020
Benchmark	NIFTY 500 TRI
Min. investment	SIP: ₹500 & Lumpsum: ₹1000
Expense ratio	1.7% as on Sep 30, 2025
Plan type	Regular
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, returns above ₹1.25 lakh in a financial year are taxed at 12.5%

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 Oct 17, 2025

Period	This fund	Category average
1 Month	3.45%	4.09%
3 Months	5.34%	3.62%
6 Months	10.41%	8.04%
1 Year	11.23%	3.42%
2 Years	27.14%	21.43%
3 Years	22.71%	18.5%
4 Years	17.89%	13.61%

View returns in detail

Asset allocationas on Sep 30, 2025

Large Cap 73.11%

Mid Cap 13.82%

Small Cap 6.44%

Other Cap 0%

Top holdings

HDFC Bank Ltd.9.77%

ICICI Bank Ltd.7.73%

Larsen & Toubro Ltd.6.87%

Reliance Industries Ltd.6.11%

Top sectors

Financial 27.55%

Energy 13.220000000000002%

Automobile 11.9%

Construction 9.969999999999999%

Credit quality

Bifurcation by Credit Quality is not available for this fund

Top Debt Holdings

Reserve Bank of India 1.0%

Allocation by Instruments

Repo 5.388911%

Index Derivatives 3.65282077%

Foreign Mutual Funds 3.30077092%

Treasury Bills 0.99773561%

Other Holdings

Xtrackers Harvest CSI 300 China A-Shares ETF 3.3%

Others 0.02%

Detailed portfolio analysis

Peer comparison

Fund name	1M	6M	1Y	3Y	5Y	10Y
ICICI Prudential Business Cycle Fund	3.45%	10.41%	11.23%	22.71%	N.A.	N.A.
ICICI Prudential India Opportunities Fund	4.09%	7.45%	8.52%	22.78%	32.63%	13.86%
ICICI Prudential Dividend Yield Equity Fund	3.7%	7.44%	7.33%	23.76%	29.89%	16.07%
ICICI Prudential Value Fund	4.07%	7.71%	7.35%	21.71%	26.81%	15.51%
SBI Contra Fund	4.52%	6.02%	2.74%	20.23%	29.54%	16.14%
ICICI Prudential India Equity FOF	4.07%	7.27%	6.61%	21.35%	26.52%	12.27%

Fund name	Std. deviation	Beta	Sharpe	Sortino
ICICI Prudential Business Cycle Fund	11.9	0.85	1.31	2.45
ICICI Prudential India Opportunities Fund	11.51	0.82	1.32	2.34
ICICI Prudential Dividend Yield Equity Fund	12.13	0.86	1.33	2.07
ICICI Prudential Value Fund	11.19	0.79	1.28	2.23
SBI Contra Fund	12.19	0.89	1.05	1.68
ICICI Prudential India Equity FOF	11.73	0.87	1.17	1.88

Fund name	ETM Rank	AUM	Fund age	Expense ratio
ICICI Prudential Business Cycle Fund	N.A.	14,148 Cr	4 yrs 9 m	1.7%
ICICI Prudential India Opportunities Fund	N.A.	30,802 Cr	6 yrs 10 m	1.58%
ICICI Prudential Dividend Yield Equity Fund	N.A.	5,936 Cr	11 yrs 6 m	1.81%
ICICI Prudential Value Fund	N.A.	55,445 Cr	21 yrs 3 m	1.5%
SBI Contra Fund	N.A.	47,205 Cr	20 yrs 5 m	1.5%
ICICI Prudential India Equity FOF	N.A.	229 Cr	5 yrs 8 m	1.21%

View all Strategy funds

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

Alpha	7.36 vs. 4.37 Higher outperformance against benchmark
Sharpe	1.31 vs. 4.77 Poor risk-adjusted returns
Beta	0.85 vs. 0.73 More sensitive to market's ups & downs
Standard deviation	11.9 vs. 8.76 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 is a Strategy mutual fund scheme from Icici Prudential Mutual Fund. This fund has been in existence for 4 yrs 9 m, having been launched on 29/12/2020. ICICI Prudential Business Cycle Fund has ₹14,148 Crores worth of assets under management (AUM) as on 30/09/2025 and is medium-sized fund of its category. The latest Net Asset Value (NAV) of ICICI Prudential Business Cycle Fund as of 20/10/2025 is ₹25.42. The fund has an expense ratio of 1.7%, which is higher than what most other Strategy funds charge.

ICICI Prudential Business Cycle Fund returns of last 1-year are 8.35%. Since launch, it has delivered 21.67% average annual returns. The fund has doubled the money invested in it every 4 yrs.
ICICI Prudential Business Cycle Fund scheme's ability to deliver returns consistently is higher than 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, Energy, Automobile, Construction, Capital Goods 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., Axis Bank Ltd..

...

Fund AUM	14,148 Cr as on Sep 30, 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,

Manan Tijoriwala

Chartered Accountant, Chartered Financial Analyst (CFA - all three levels) and Postgraduate Programme in Management (PGP) from the Indian School of Business. Prior to joining the ICICI Pru AMC, he was associated with Proud Securities and Credits Private Ltd, ICICI Bank Ltd.

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	103 view all schemes
Total AUM	10,60,747 Cr as on Sep 30, 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	1Y	5Y
ICICI Prudential Infrastructure Fund	N.A.	7,863 Cr	6.79%	37.42%
ICICI Prudential BHARAT 22 FOF Scheme	N.A.	2,354 Cr	3.4%	35.65%
ICICI Prudential India Opportunities Fund	N.A.	30,802 Cr	8.52%	32.63%
ICICI Prudential Commodities Fund	N.A.	3,059 Cr	9.83%	31.64%
ICICI Prudential Dividend Yield Equity Fund	N.A.	5,936 Cr	7.33%	29.89%
ICICI Prudential Manufacturing Fund	N.A.	6,608 Cr	6.25%	29.79%

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 plan is approximately ₹25.42 as of Oct 20, 2025.

What are the returns of this mutual fund scheme?

The ICICI Prudential Business Cycle Fund is a 4 yrs 9 m old fund and has delivered average annual returns of 21.62% since inception.

ICICI Prudential Business Cycle Fund Returns

1-Year	3-Year	Since Inception
11.23%	22.71%	21.62%

How much does this mutual fund charge as expense ratio?

The ICICI Prudential Business Cycle Fund has an expense ratio of 1.7%, representing the annual cost of managing and operating the fund. This fee is deducted from the fund's AUM while declaring the daily NAV, reducing investor returns.

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 14,148 Cr as on Sep 30, 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.	9.77%
ICICI Bank Ltd.	7.73%
Larsen & Toubro Ltd.	6.87%
Reliance Industries Ltd.	6.11%
Axis Bank Ltd.	4.15%
Maruti Suzuki India Ltd.	4.04%
Nifty 50	3.65%
Ultratech Cement Ltd.	3.47%
Cummins India Ltd.	3.28%
Bharti Airtel Ltd.	3.07%

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	27.55%
Energy	13.220000000000002%
Automobile	11.9%
Construction	9.969999999999999%
Capital Goods	6.42%
Materials	5.930000000000001%
Insurance	4.87%
Communication	3.07%
Services	3.06%
Metals & Mining	2.31%

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

Redeeming your investments in the ICICI Prudential Business Cycle Fund is simple. If you have invested via ET Money, just log in to the app, go to the holdings section, and submit the redemption request.

If you have invested from anywhere else, you can go to the fund house website and put a request through it.