Background: Prudential ICICI Asset Management Company Ltd manages prudential ICICI Mutual Fund. A joint venture between Prudence Plc, UK's leading insurance company and ICICI Bank Ltd. India's premier financial institution. Prudential ICICI Mutual Fund house has Rs 56049.28 crore assets under management as on April 2009.
ICICI Pru Growth Fund (G) an open-ended equity scheme launched in June 1998. The objective of the scheme is to seek to generate long-term capital appreciation from a portfolio that is invested predominantly in equity and equity related securities. The minimum investment amount is Rs 5000 and in multiples of Rs 1 thereafter. The unit NAV of the scheme was Rs 95.51 as on 25 May 2009.
Portfolio: The total net assets of the scheme increased by Rs 33.60 crore to Rs 283.59 crore in April 2009.
ICICI Pru Growth Fund (G) took fresh exposure to one stock in April 2009. It has purchased 25964 units (1.08%) of Hero Honda Motors.
The scheme exited completely from Cairn India by selling 1.46 lakh units (1.08%) in April 2009.
Sector-wise, the scheme took fresh exposure to Automobiles-Motorcycles/Mopeds at 1.08% in April 2009.
Sector-wise, the scheme did not exit completely from any sectors in April 2009.
The scheme had highest exposure to Reliance Industries with 1.71 lakh units (10.91% of portfolio size) followed by Bharti Airtel with 2.48 lakh units (6.57%), Oil & Natural Gas Corporation with 1.77 lakh units (5.42%) and Infosys Technologies with 88929 units (4.73%) among others in April 2009.
It reduced its exposure to Bharti Airtel of India by selling 39838 units to 2.48 lakh units (by 0.65%), ITC by selling 323 units to 6.42 lakh units (by 0.47%), Hindustan Unilever units to 2.07 lakh units (by 0.25%) and GAIL (India) by selling 1540 units to 2.71 lakh units (by 0.21%) among others in April 2009.
Sector-wise, the scheme had highest exposure to Refineries at 12.27% (from 11.76% in March 2009), followed by Computers-Software-Large at 7.14% (5.59%), Telecommunications-Service Provider at 6.57% (7.22%) and Power Generation and Supply at 5.73% (4.72%) among others in April 2009.
Sector wise, the scheme had reduced exposure to Oil Drilling/Allied Services to 5.42% (by 1.21%), Telecommunications-Service Provider to 6.57% (by 0.65%), Cigarettes to 4.28% (by 0.47%) and Personal Care-Multinational to 1.72% (by 0.25%) among others in April 2009.
Performance: The performance of scheme is benchmarked against S&P CNX Nifty. The scheme has underperformed the benchmark index most of the time periods except 1 year period.
The scheme has posted returns of 16.62% underperforming the S&P CNX Nifty that gained 21.74% over 1 month period ended 25 May 2009. Over 3 months period, the scheme advanced by 41.73% underperforming the S&P CNX Nifty that gained 53.40%. It fell 11.68% less than the benchmark index that declined by 14.33% over 1 year period.
ICICI Pru Growth Fund (G) an open-ended equity scheme launched in June 1998. The objective of the scheme is to seek to generate long-term capital appreciation from a portfolio that is invested predominantly in equity and equity related securities. The minimum investment amount is Rs 5000 and in multiples of Rs 1 thereafter. The unit NAV of the scheme was Rs 95.51 as on 25 May 2009.
Portfolio: The total net assets of the scheme increased by Rs 33.60 crore to Rs 283.59 crore in April 2009.
ICICI Pru Growth Fund (G) took fresh exposure to one stock in April 2009. It has purchased 25964 units (1.08%) of Hero Honda Motors.
The scheme exited completely from Cairn India by selling 1.46 lakh units (1.08%) in April 2009.
Sector-wise, the scheme took fresh exposure to Automobiles-Motorcycles/Mopeds at 1.08% in April 2009.
Sector-wise, the scheme did not exit completely from any sectors in April 2009.
The scheme had highest exposure to Reliance Industries with 1.71 lakh units (10.91% of portfolio size) followed by Bharti Airtel with 2.48 lakh units (6.57%), Oil & Natural Gas Corporation with 1.77 lakh units (5.42%) and Infosys Technologies with 88929 units (4.73%) among others in April 2009.
It reduced its exposure to Bharti Airtel of India by selling 39838 units to 2.48 lakh units (by 0.65%), ITC by selling 323 units to 6.42 lakh units (by 0.47%), Hindustan Unilever units to 2.07 lakh units (by 0.25%) and GAIL (India) by selling 1540 units to 2.71 lakh units (by 0.21%) among others in April 2009.
Sector-wise, the scheme had highest exposure to Refineries at 12.27% (from 11.76% in March 2009), followed by Computers-Software-Large at 7.14% (5.59%), Telecommunications-Service Provider at 6.57% (7.22%) and Power Generation and Supply at 5.73% (4.72%) among others in April 2009.
Sector wise, the scheme had reduced exposure to Oil Drilling/Allied Services to 5.42% (by 1.21%), Telecommunications-Service Provider to 6.57% (by 0.65%), Cigarettes to 4.28% (by 0.47%) and Personal Care-Multinational to 1.72% (by 0.25%) among others in April 2009.
Performance: The performance of scheme is benchmarked against S&P CNX Nifty. The scheme has underperformed the benchmark index most of the time periods except 1 year period.
The scheme has posted returns of 16.62% underperforming the S&P CNX Nifty that gained 21.74% over 1 month period ended 25 May 2009. Over 3 months period, the scheme advanced by 41.73% underperforming the S&P CNX Nifty that gained 53.40%. It fell 11.68% less than the benchmark index that declined by 14.33% over 1 year period.
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