Tarakki Times English May-June 2018

The information contained herein is solely for private circulation for reading/understanding of registered Advisors/Distributors and should not be circulated to investors/prospective investors. A COMPILATION OF ICICI PRUDENTIAL MUTUAL FUND MEDIA VIEWS Professional Views MUMBAI | MAY - JUNE 2018 | PAGES 10Pg. 3 Tick these boxes before investing in mutual fundsValuations attractive,good long-termopportunity inpharma sector S Naren, ED & CIO ICICI Prudential Mutual FundPg. 4Bharat 22 ETF is anopportunity to ownjewels of India IncNimesh Shah, MD & CEO ICICI Prudential Mutual Fund Fund Review Nimesh Shah BloombergQuint| June 02, 2018 always made when you are MD & CEO contra-cyclical.Pg. 5 ICICI Prudential Mutual Fund • Invest systematically in large cap funds throughout the So, what we try to do a mutualICICI Prudential Balanced Advantage Psychology plays a huge role in market cycle fund houses is, can you createFund mutual fund investing as people products which are contra- are geared to look at past Somebody put it very aptly - cyclical because customer’sChoose balanced advantage returns, said Nimesh Shah, chief that it is now time for new behaviour is not going to change.fund to ride out volatile 2018 executive officer of ICICI participants in equity markets So, in bullish markets can Prudential Mutual Fund. to learn some very old lessons. you give a product which areICICI Prudential Value Discovery Is that how you would put the relatively bearish in nature.Fund That means mutual fund inves- characteristics of the market That’s what the game is. So, can tors often end up entering the for 2018 and for the near term? we get him into asset allocationOne Fund Review market at the wrong time, product? he said on BloombergQuint’s A. While we would always likePg. 6 weekly series, The Mutual Fund that to happen, it never does. In a bullish market, can youICICI Prudential Bluechip Fund Show. So the key is to “create Whether it is in the Indian market give the customer a bearishPg. 7 products which are contra- or western markets, people product...You wouldn’t hearList of ICICI Prudential Funds cyclical because customer’s make the same mistakes every asset managers speak such ain Mint behaviour is not going to time. Because it has more to do language..SIP Top UP change”, he added. ICICI with psychology than finance.Pg. 8 Prudential’s contra calls include Human psychology plays a huge A. We have been consistent inETW Funds 100 healthcare, telecommunications role in the way people invest. that in the last 3-4 years. Even 1.5Systematic Investment Plans and utilities. That’s been proven worldwide. years back, I would have said the same thing. We believe thatPg. 9 Here’s a checklist every investor So, I don’t think that is going to when the markets are very high,Insight of IAP Solidarity should keep in mind before change. People will still see past people tend to come into the investing in mutual funds, returns and come into the markets, take the money but do Tarakki Corner according to Shah. market. So, if it is an expensive not invest the full money in market, people will come in and equity at that point of time. Pg. 10 when the market is cheap, people will start thinking what to Try and do your asset allocation Jain Investments • Take the help of a financial do next and whether it is the right within the product in a way that ARN - 53668 advisor time to sell. allocation towards debt is high Gujarat and allocation towards equity is • Do not ignore debt mutual Past returns give a lot of low and that’s how you create Kanak Jain funds confidence to people. So, they that kind of product for yourARN - 41379 always tend to enter at the wrong customer. It has worked well. We • Core portfolio should have a times. Even if you see the Indian have got 7-8 years of experience Kolkata large cap and balanced mutual fund industry, whenever of doing it and those models of advantage fund the markets are valued very high asset allocation should be that is the time maximum inves- beyond emotions. So, it should • Asset allocation is of para- tors come in. So, the customer mount importance for wealth will be pro-cyclical, but money is creation • Invest lumpsum in dynamically managed products in current market condition

The information contained herein is solely for private circulation for reading/understanding of registered Advisors/Distributors and should not be circulated to investors/prospective investors.2 TARAKKI TIMES, MAY-JUNE 2018 Interviewbe quant-based asset allocation switched from small to large take the contra-call in this hospital sector. So, the overallbetween equity and debt. The caps. Customers who are market, one of the very straight- healthcare sector is anotherquants and the algorithms which holding small and mid caps forward call is that the banking opportunity.we have created over the years, should switch over to large caps. system, especially the corporatethat should work and indicate It is a no-brainer. banks have taken a huge amount Another contra-call we like andthat should be the allocation of pain in the last two years. The believe in is telecom. Thetowards equity and debt. You are getting the best compa- way the numbers have come out amount of data being used inOtherwise, emotions take over. nies of India at relatively lower and the way RBI has gone about Bombay local trains - out of 10In the bullish market, you tend to valuations. You are getting com- cleaning up the whole thing, the people, all 10 are looking at theirbecome more bullish about the panies which have promised pain is coming to an end. Serious phones. That’s the amount ofmarkets and you tend to invest growth but are smaller in size at amounts of write-offs have been data and amount of voice that wemore in equity than in debt, while higher valuations. So, the risk in taken. I believe 2019-20 onward, consume. There is a new playerit should be the other way that element is high, to move we will be in a much better state which has come in and createdaround. from a high-risk area to low-risk then what we are in today in ripples in the market. At some area. So, that is a no-brainer that I corporate banks. The market will point, there could be threeAre you a lot more bearish than would advocate investors to do. start to recognise it in a year in players and all of them wouldwhat the Street is? advance. want to make money. So, I think One risk that everyone seems that telecom should be anotherA. I will not say bearish but to be hearing about these days Both private and PSU banks? play that one should be investedrealistic. Along with our fact- is oil. The risk that oil has on in. Ultimately, look at any countrysheet, every month we print a markets and on mutual fund A. We have got a view on private in the world. There is a seriousvaluation index. So the valuation investing as well... sector banks and not so much on market cap on the telecomindex is something which the public sector [banks]. We are sector.suggests that what are the levels A. We always believed that Indian more positive on the privateof valuations today. Primarily, macros were very good and the sector banks. We see value in Then the power sector is anotherthere are 3-4 factors. One of the micros had to be corrected. The private sector corporate banks. contra call. Also, utilities. Wemain factors is price-to-book corporates had to do better. Oil is Even in an expensive market. could be buying air conditionersratio of the market. So, the price- a fundamental thing which one Another call that we have since a every day. We can buy moreto-book ratio at the market level has to be conscious about long time - and maybe that has washing machines every day butfairly indicates where the because that affects India in a not gone right - is our call on at the same time we say lessermarkets would be and where very serious way. Every dollar pharma. We believe healthcare is power will be consumed, thatyour allocation between the increase of oil crude will increase a great place for Indian corpo- can’t be. There are issues. But byequity and debt should be. our current account deficit by rates. Because the West doesn’t next 2-3 years they will get sorted almost a billion dollar plus. So, oil want to manufacture chemicals out. So, there are spaces. TheWe have seen that valuations are is a very relevant number. I have in their backyard. That’s going to market is expensive, but withinnot cheap today. We are in a very not met anybody who has be manufactured in this country. that market, there are pockets ofinteresting phase of equity predicted oil [correctly]. The way value.investing where the market is not the oil is priced today, India So, the bulk drugs businessas cheap as we would like it to macros would be that much of a is there in this country. Our Do you have some thematicbe, to make serious returns. challenge. companies have been facing funds in some of these?When you buy cheap, you make some challenges on FDI. Butgood money. But the market is There is an issue of current when you look at the portfolio of A. We have an infrastructureexpensive. So, this is the account deficit which leads to an companies, when you look at the fund. This is the most apt time tochallenge posed by the Indian impact on the rupee which in turn whole basket, individual compa- come with a pharma fund. So,market right now. If you see, impacts interest rates in the nies can have issues. I can’t in June we are coming outlarge caps are more than fairly country. So, macros do not look predict today which company with a healthcare fund too. Wevalued. The average PE is as good as one year ago when oil will have issues and which explained to SEBI that this is thebetween 24 and 27. was at $50 to the barrel. Now it’s company will not have FDI issues space that we want to be. In at $75. Obviously, the macros in the next three years. But if I got June, we should be launchingWe are worried about mid and don’t look that good. So, there is a portfolio of pharma companies, that fund too.small caps. We have a portfolio no debate. overall, I believe that our peopleof small-cap companies which are competent.are called as PIPE companies. In But the good thing the microsJanuary 2018, we returned (companies) are playing out well. They have challenges and theyserious amounts of money back In the next two years, we believe will manage those challenges.to investors and they had a that a lot of corporates in India Even from a healthcare point offantastic experience. We took will do much better in terms of view, go beyond pharma to bulkthat money in 2013-14 and we earnings. The market has already drugs, formulations. When youreturned it in early 2018. Not that discounted it. When we see the go to the overall healthcarewe believe that we can always PE ratios, that means market has, industry, whether it is diag-time the market well, but the call to a certain extent, discounted it. nostics or hospitals, I believein January 2018 of redeeming unfortunately a lot of diseasessmall caps has done very well for There are pockets where money are growing in India. So, onecustomers. A lot of them have can be made. If you are able to sector which will benefit is the

The information contained herein is solely for private circulation for reading/understanding of registered Advisors/Distributors and should not be circulated to investors/prospective investors.Interview 3TARAKKI TIMES, MAY-JUNE 2018Valuations attractive, good long-termopportunity in pharma sectorMint | June 14, 2018Sankaran Naren, Executive June, you are launching a opportunity in this sector. S NarenDirector (ED) and Chief pharma, healthcare and ED & CIOInvestment Officer (CIO), ICICI diagnostics fund. What is the The valuations are also attrac- ICICI Prudential Mutual FundPrudential AMC, says the rationale behind it. Is it because tive. The other advantage withsustained underperformance in you believe that the US FDA the fund is that there are In fact, it is more attractive than itthe pharma sector has made the issues are now behind us? individual stocks with individual was when the sector was doingvaluations attractive, and large- What makes you so bullish? risks, but when you buy a theme well six months ago. We feel thecaps are a better bet than like this, you invest in many sector is a big positive over themid-caps. Excerpts from the When everyone was very stocks, and because you invest next three five years. The near-interview: positive on the consumption in many stocks, the risk of an term is a clear competition- sector, more money is spent on FDA or any specific-company oriented problem, which is goodFor long, you preferred balance consumption, including cars and problem, is much lower than and more positive for the long-funds. With the recent big many other products. Our view is what you would face if you healthcare term.correction, is it time to increase that the same mega trend picked up a single stock.the allocation to equities? is applicable for healthcare, Your thoughts on the mid-cap pharmaceuticals and diag- The other sector that refuses to correction. Has it presentedWe are in a moderate-return nostics. With increased pros- offer any stability is telecom. good buying opportunities, orcamp and not a high-return perity and the increase in the This morning again we wake up will it be a tough year forcamp. That is primarily because population of old people, health- to news of further lowering of midcaps? Would you rather beinterest rates have gone up care is one of the big megatrends tariffs. What is your call on with the large-cap stocks?globally and you have reasons I can think of for the next 20-30 telecom?for volatility in India over the nest years. Despite the correction, we12-18 months. Therefore, we are Yo u a r e m o r e a n d m o r e continue to think that mid-not looking at an aggressive The advantage in this theme is dependent on your mobile caps are relatively overvaluedmarket call at this point in time. that, over the last three years, it phones and tablets. So, our view compared to large-caps. TheHaving said that, we are positive has not done well. So, you get a is that you need not worry entire megatrend, which playedon earnings. We are more rare opportunity-a very good about the short-term pricing out with the dip in commoditypositive on large-caps over mid- long-term megatrend along with phenomenon you are seeing prices and falling interest rates,caps and small-caps over the underperformance in the last periodically, as long as you havenext few years. three years. This gives you a a long-term view. good entry point. Except in theYou have been very good at last two-three days, the sector From a mutual fund perspective,predicting a lot of trends. has been continuously under- since we invest with the long-You were positive on the performing. So we thought term in mind, we think the sectorpharmaceutical space. On 25 that there is a good long-term is still attractive. Contd. on page 5

The information contained herein is solely for private circulation for reading/understanding of registered Advisors/Distributors and should not be circulated to investors/prospective investors.4 TARAKKI TIMES, MAY-JUNE 2018 Interview Bharat 22 ETF is an opportunity to own jewels of India Inc ET | June 16, 2018 Most of the stocks in the ETF are blue-chip, profitable and dividend paying public sector undertakings. The fund can be seen as a proxy to a pure large-cap fund Nimesh Shah 2018, earnings ex-corporate manager would reduce positions underlying sectors in the ETF. MD & CEO banks have seen a healthy in best performing asset class ICICI Prudential Mutual Fund growth of 14%. while adding in underperforming The further fund offer of the assets, thereby making the most Bharat 22 ETF is open forWhat is your reading on the Has the correction in mid/ of the market opportunities. As a subscription from 19 June to 22current market situation? small-cap space opened up result, one gets to participate in June, with a 2.5% discount, buying scope in select stocks? the market upside and in case giving investors another oppor-We are seeing improvement in of a market correction, the tunity to own the jewels ofsome micro economic factors- While mid- and small-cap space presence of the debt component corporate India.capacity utilisation, corporate have seen correction since ensures that the downside isprofitability, capacity expansion, February 2018, their valuations protected. Has the rate tightening cycleand credit growth. Formalisation are still much higher than blue- started? What is your outlookof economy will help the larger chips. For retail investors such an on interest rates?companies to increase their arrangement is better placedmarket share. The recent correction has than investing individually. With the monetary policy comm- opened up opportunities in very ittee specifically reiterating itsAlso, the valuations of blue-chip select spaces, especially in gas It saves investors the time and neutral stance, we believe that itcompanies are at a steep utilities, consumer durables, the energy in actively tracking does not intend to embark on adiscount to mid-cap valuations. consumer staples and pharma. the market and making the long monetary policy tighteningWe are positive on blue-chips Investors have to be extremely required changes to the portfolio cycle, instead it will be data-over mid and small-caps. selective when investing. We in terms of asset allocation. Also, dependent and hike oppor- prefer Blue-chips as they have a when investing individually into tunistically.How is the earnings profile of stronger balance sheet to debt and equity, individuals maycompanies shaping up? withstand adverse conditions. end up attracting tax incidences We believe the interest rate is when re-balancing. likely to be benign, with notThere have been some early How is the balanced advantage much of a hike in rates in the nearsigns of recovery in select fund category relevant for The performance of Bharat 22 term. However, if crude oil pricessectors over the last two investors? ETF has been underwhelming were to see a substantial hikequarters. The earnings from so far. What can investors from current levels, then interestconsumer-oriented sector like Most often investors rely on past expect from this offering? rates may increase.FMCG, auto have been doing returns, when investing inwell due to the increased per equities. What they miss is that We continue to hold a positive What is the right approach forcapita disposable incomes and the market could become view on ICICI Prudential bond fund investors now?easy access to credit. IT and expensive by the time returns are managed Bharat 22 ETF as wecommodity sectors have been generated. So, while investors believe in the potential of the Currently, Indian debt marketsdoing well due to high global are procyclicals, sizeable gains underlying stocks of the ETF. are facing some headwinds witheconomic growth. are made by being counter Most of the stocks the ETF holds rising crude oil prices and cyclical. are blue-chips, profit-making and upward bias in global yields.There were a few negative dividend-paying public sectorsurprises from corporate banks, The investor’s main goal when enterprises. These factors have made in-but we believe the outlook for investing into equities should be terest rates volatile. If investorscorporate banks is good over the to protect the downside risks It elegantly blends sectors with have relatively shorter invest-next three years as there are during market corrections. The secular growth prospects such ment horizon, they may considerresolutions happening due to the principle of ‘buying low and as FMCG and utilities, and shorter duration products likeNational Company Law Tribunal selling high’ ensures good cyclicals like energy, metals and ultra short term or liquid fundsand the Insolvency and Bank- investor experience, over a industrials. As an AMC, we have for investment.ruptcy Code. We believe the period of time. sizeable holdings in many ofcorporate earnings will grow in these stocks across our And for investors with relativelydouble digits over the next two And this is where the balanced portfolios. longer time horizons, credit riskyears. advantage fund category fits into funds and dynamic duration every investor’s portfolio. The We believe this fund can be seen funds may offer a better invest-For the quarter ended March fund shifts exposure between as a proxy to a pure large-cap ment proposition. equity and debt based on a fund. Over the next three to five predefined valuation model. years, we believe this ETF is well poised to capture the market This would mean that the fund upside, as we are positive on the

The information contained herein is solely for private circulation for reading/understanding of registered Advisors/Distributors and should not be circulated to investors/prospective investors.Fund Review 5TARAKKI TIMES, MAY-JUNE 2018 ICICI Prudential Balanced Advantage Fund Choose balanced advantage fund to ride out volatile 2018ET | June 06, 2018 The largest fund by assets under portion is mainly invested in large-caps management in this category, the fund stocks while in the debt part, the fund hasAssets Under Management: ` 27,123 crore adjusts its equity allocation based on taken duration calls earlier, helping make theFund Manager: Ihab Dalwai/ Manish the price-to-book-value ratio of the market, most of rate declines. It has some allocationBanthia / Rajat Chandak / Sankaran Naren with rebalancing done on a daily basis. At to below-AAA corporate bonds for higher April end, the equity allocation stood at 42%, accrualsTop 3 equity holding: HDFC Bank, Infosys, with the fund house having the flexibility toHDFC Ltd move it between 30 and 80%. The equity1-year return: 7.91% ICICI Prudential Value Discovery Fund One Fund ReviewMint | May 2018 Mint 50 is a curated list of 50 Return investment-worthy funds. mint How ` 10,000 has grown 50BEST 1,70,000 FUNDS 1,50,000 1,30,000 1,10,000 ICICI Prudential Value Discovery Fund 1,40,190 S&P BSE 500 IndexICICI Prudential Value Discovery FundCorpus (` cr) (as on 30 Apr 2018) 16,651.89 90,000 69,836 140.47 70,000NAV (as on 24 May 2018) 2.11 50,000 24 May 2018Expense ratio (as on 30 Apr 2018) 1.94 30,000 10,000 Source: Value ResearchCategory average expense ratio ` 1,000(as on 30 Apr 2018) 19 Aug 2004Minimum Investment Base value taken as 10,000Valuations attractive, good long-term opportunity in pharma sector Contd. from page 3helped the mid-caps and small- small-cap. You will not see and everyone has now jumped make money here or do youcaps. everything going down in a on to the bandwagon believing think it is going to be a straight straight line or going up in a that these NCLT resolutions are line?Now that commodity prices and straight line. It is not going to going to speed up. In fact, SBI There are a few good PSU banks,interests are going up, it will happen. yesterday told us that `50,000 which are not in PCA. I thinkbenefit the large-caps. We are crore of recovery is what they many of them, their oppor-still clear believers in this large- I also wanted your thoughts on are expecting this fiscal? Do tunities have substantiallycap trade, over mid-cap and PSU banks because anyone you think it is not as easy to expanded because quite a number of public sector banksYou get a rare opportunity- a very are not able to lend. So the fewgood long term-term megatrend that are able to lend and whichalong withunderperformance in have capital to lend, I think thethe last 3 years. outlook for them is steadily improving. When you had a reduced interest rate regime, the bulk borrowers were the biggest gainers and the big banks which were the source of the deposits were getting hurt.

The information contained herein is solely for private circulation for reading/understanding of registered Advisors/Distributors and should not be circulated to investors/prospective investors.6 TARAKKI TIMES, MAY-JUNE 2018 Fund Review ICICI Prudential Bluechip Fund Consistent outperformer in large-cap category across most periodsDNA | June 18, 2018 (experience – eight years) since July 2017. over medium- to long-term trailing The fund’s assets under management investment horizons of three,five, seven andLaunched in May 2008, ICICI Prudential (AUM) almost doubled from Rs 9,089 crore ten years. It trailed marginally during the Bluechip Fund, is a large-cap fund, that in May 2015 to Rs 17,142 crore in April 2018, past one year and two years.Chart: Point-to- aims to provide long-term capital backed by mark-to-market returns and fresh point returns .appreciation and income distribution from a money inflow.portfolio predominantly invested in equity An investment of Rs 10,000 in the fund onand equity-related securities of large cap Trailing returns: In terms of trailing returns, May 23, 2008 (inception date of the fund)companies. the fund has consistently outperformed the would have grown to Rs 40,540 (14.93% category (represented by funds ranked in Compound Annual Growth Rate) on June 12,The fund was ranked Number 1 in the large- the large cap category in Crisil Mutual Fund 2018 vis-àvis the benchmark’s Rs 26,782cap category in Crisil Mutual Fund Ranking Rank - March 2018) across all trailing (10.29% CAGR) and the category’s Rsfor the quarter ended March 2018. periods. Compared with its benchmark 27,638 (10.63% CAGR). SIP returns: A (Nifty 100 TRI), the fund has outperformed monthly investment of Rs 10,000 via aIt has been managed by Sankaran Naren systematic investment plan (SIP) for 10(experience – 26 years) and Rajat Chandak years would have grown to Rs 27.24 lakh (XIRR 15.8%).POINT-TO-POINT RETURNS A similar investment in the benchmarkReturns (%) Performance as on 12 June 2018 would have grown to Rs 24.5 lakh (XIRR 13.8%).Table : Growth of Rs 10,000 SIP perICICI Prudential Bluechip Fund Category Benchmark month Risk-reward matrix: The fund delivered higher average daily returns over Source: CRISIL the past three years relative to the benchmark and peers coupled with lower volatility.12.55 Portfolio analysis: During the past three 9.55 years, the fund invested in 88 stocks - chiey 13.96 large caps (averaged 91.29% of the 17.38 portfolio). The top ve sectors constitute 60% 14.85 of the fund’s equity portfolio as of April 2018. 17.79 Banks have the highest allocation of 25.76% 13.09 followed by software (9.84%), auto (9.18%), 11.46 power (7.72%) and consumer non-durables 13.04 (7.57%). 17.61 16.36 16 13.95 12.82 12.32 15.17 12.04 11.371 Years 2 Years 3 Years 5 Years 7 Years 10 Years In three years, the banking sector had theabsolute annualised annualised annualised annualised annualised highest average allocation of 27.38%. HDFC Bank, ICICI Bank, Axis Bank and IndusIndFund manager Sankaran Naren, Rajat Chandak Bank were the consistently held stocksQAAUM (March 2018) Rs. 16,385 crore during this period. HDFC Bank and IndusIndCrisil Mutual Fund Rank 1 (as on March 2018) Bank were the key contributors to the fund’sExit load performance from the banking sector. Within 1 year of allotment - 1% After 1 year from the date of allotment - nil The software sector had average allocation of 11.39%. The fund consistently held fourGROWTH OF RS. 10,000 SIP PER MONTH of the ve software sector stocks it took exposure to during three years, with Infosys Fund Benchmark and HCL Technologies comprising major allocations in the sector.Tenure Total amount Market value XIRR Market value XIRR Infosys was the highest contributor to the invested (Rs) (%) (Rs) (%) fund’s performance among software stocks during this period. Out of the 88 stocks the1 year 120,000 124,343 7.54 126,455 11.27 fund invested in during three years, it consistently held 20.3 year 360,000 445,649 14.87 450,917 15.73 Among the consistently held stocks, HDFC5 year 600,000 863,460 14.84 854,382 14.40 Bank, Bajaj Finserv, IndusInd Bank, Reliance Industries and Infosys were the biggest7 year 840,000 1,448,881 15.51 1,402,872 14.59 contributors. Other key contributors include Maruti Suzuki and Britannia Industries.10 year 1,200,00 2,724,696 15.8 2,450,572 13.80

The information contained herein is solely for private circulation for reading/understanding of registered Advisors/Distributors and should not be circulated to investors/prospective investors.Fund Review 7TARAKKI TIMES, MAY-JUNE 2018mint List of ICICI Prudential Funds in Mint50BESTFUNDSMint | June 2018FUND CORE 3-year return (%) 5-year return (%) 10-year return (%) Fund size (Rs cr)LARGE CAPICICI Prudential Bluechip Fund 12.12 16.88 NA 17,141.91MULTI CAP 11.52 17.87 12.75 11,728.72ICICI Prudential Multi-Asset Fund 14.48 18.95 NA 230.35ICICI Prudential Nifty Next 50 Index Fund 8.36 21.03 17.57 16,651.89ICICI Prudential Value Discovery FundTAX PLANNING 10.30 18.63 13.38 5,299.48ICICI Prudential Long Term Equity Fund 12.15 17.75 12.74 28,806.55(Tax Saving)EQUITY-ORIENTEDICICI Prudential Equity & Debt FundFUND CORE 3-month return (%) 6-month return (%) 1-year return (%) Fund size (Rs cr)DEBT-ORIENTEDSHORT TERM 0.77 1.36 5.12 9,123.29ICICI Prudential Short Term FundSIP Top UpA monthly Systematic Investment Plan (SIP) of Rs.10,000 with an annual Top Up of 10% in these schemes has generated returns as stated below.Scheme Name 5 Years 10 YearsICICI Prudential Return (%) 1,170,864 4,605,808 Midcap Fund 20.82 19.21ICICI Prudential Return (%) 1,032,625 3,866,724Bluechip Fund 14.96 15.83ICICI Prudential Equity Return (%) 1,021,440 3,875,044 & Debt Fund 14.61 15.85 ICICI Prudential Return (%) 984,724 3,670,437Large & Mid Cap Fund 12.94 13.99ICICI Prudential Return (%) 1,010,883 3,734,958Multi-Asset Fund 14.03 15.06ICICI Prudential Return (%) 1,032,531 3,791,557Multicap Fund 15.13 15.29ICICI Prudential Balanced Return (%) 965,869 3,501,594 Advantage Fund 12.06 13.72 ICICI Prudential Return (%) 956,270 --Focused Equity Fund 11.66 -- ICICI Prudential Return (%) 1,036,085 4,501,307Value Discovery Fund 15.49 19.34ICICI Prudential Long Term Return (%) 1,013,867 3,936,440 Equity Fund (Tax Saving) 14.31 16.34Data in XIRR (%) terms and as of May 31, 2018

The information contained herein is solely for private circulation for reading/understanding of registered Advisors/Distributors and should not be circulated to investors/prospective investors.8 TARAKKI TIMES, MAY-JUNE 2018 Fund ReviewETW Funds 100List of ICICI Prudential Funds in the Economic Times WealthET Wealth | June 2018FUND Value Research Returns (%) Fund Rating 3-month 6-month 1-year 3-year 5-year 0.18 16.24EQUITY: LARGE CAP -0.33 0.14 12 10.85 21.1ICICI Prudential Bluechip Fund -0.33 0.58 7.65 7.47 18.84ICICI Prudential Value Discovery Fund -1.81 17.19EQUITY: MULTI CAP 1.68 -1.49 13.07 14.36 8.07ICICI Prudential Nifty Next 50 Index Fund 1.03 -1.51 6.86 10.82 8.11HYBRID: EQUITY ORIENTED 1.68 2.98 6.58 8.23 10.78ICICI Prudential Equity & Debt FundHYBRID: DEBT-ORIENTED CONSERVATIVE 1.32 4.75 8.19ICICI Prudential Ultra Short Term Fund 1.42 4.31 8.74(An open ended income scheme. Income is not assuredand is subject to the availability of distributable surplus)DEBT: INCOMEICICI Prudential Banking & PSU Debt FundDEBT: DYNAMIC BONDICICI Prudential All Seasons Bond FundSystematic Investment PlansA monthly Systematic Investment Plan (SIP) of Rs. 10,000 in these schemes has generated returns as stated below Scheme Name Return (%) 3 Years 5 Years 7 Years 10 Years 4,52,119 10,01,772 17,88,666 32,85,368 ICICI Prudential Midcap Fund 15.65 20.82 21.36 19.21 ICICI Prudential Return (%) 4,48,304 8,69,291 14,54,413 27,40,127 Bluechip Fund 15.04 14.96 15.51 15.83ICICI Prudential Equity Return (%) 4,31,878 8,61,885 14,73,009 27,43,228 & Debt Fund 12.4 14.61 15.87 15.85 ICICI Prudential Return (%) 4,30,382 8,27,305 13,85,887 24,82,972Large & Mid Cap Fund 12.16 12.94 14.15 13.99 ICICI Prudential Return (%) 4,39,418 8,49,643 14,28,403 26,28,758 Multi-Asset Fund 13.62 14.03 15 15.06 ICICI Prudential Return (%) 4,31,653 8,72,892 14,86,152 26,61,857 Multicap Fund 12.37 15.13 16.12 15.29ICICI Prudential Balanced Return (%) 4,21,424 8,09,719 13,46,993 24,47,754 Advantage Fund 10.69 12.06 13.35 13.72 ICICI Prudential Return (%) 4,24,204 8,01,824 13,16,244 --Focused Equity Fund 11.15 11.66 12.7 -- ICICI Prudential Return (%) 4,17,092 8,80,576 15,81,025 33,06,702Value Discovery Fund 9.97 15.49 17.87 19.34ICICI Prudential Long Term Return (%) 4,28,492 8,55,630 14,69,744 28,16,246 Equity Fund (Tax Saving) 11.85 14.31 15.81 16.34Data in XIRR (%) terms and as of May 31, 2018

The information contained herein is solely for private circulation for reading/understanding of registered Advisors/Distributors and should not be circulated to investors/prospective investors.Insight of IAP Solidarity 9TARAKKI TIMES, MAY-JUNE 2018 Investor Awareness Programme for Indian Army and CISF, GoaThe life of Indian Army is full of sacrifices. They are the ones who need financial planning the most. Tosupport this cause, Harsh Roongta , CFP & Principal Financial Planner of Roongta Corporate ServicesPvt Ltd anchored an Investor Awareness Program in association with ICICI Prudential Mutual Fund.The role of CISF translates intosecurity of India's critical economicassets. But what about their ownsecurity?To improve their financial well being,Dhananjay Jain, Pankaj Mathpal andICICI Pru MF organized an investorawareness program.

The information contained herein is solely for private circulation for reading/understanding of registered Advisors/Distributors and should not be circulated to investors/prospective investors.10 TARAKKI TIMES, MAY-JUNE 2018 Tarakki CornerYour YToaur rTaarakkkki CiornCer ornerJain Consultancy Asset Allocation holds the Key for your Journey to on the new trends in the markets, future market outlook,ARN - 53668 wealth creation the current portfolio review etc. and that helps us to addGujarat value to our clients.” Their focus on having an asset 2008 was a dramatic year for the Indian markets. After allocation strategy suiting the market conditions and the hitting record highs, the markets went crashing to become risk appetite of their clients has paid off well. Different investors’ biggest nightmare. However, it is in the same asset classes tend to have their own market cycles. As year that Viral Shah from Jain Consultancy started off his such, a diversified portfolio with multiple asset classes journey as a financial advisor. it was his conviction and helps one perform better in varying market cycles. desire to support his wife, Kruti, into an advisory business that he decided to shift his line of business from trading of Viral is joyful in sharing the expansion his firm has seen automobile parts to financial advisory. It was not going to over the years. “As we continue to focus on offering be easy to convince the investors to put in their money qualitative services to the clients instead of just building especially when the markets were crashing, but he the client numbers, we have transformed ourselves from focused on clients’ requirements and helped them save Jain consultancy (one product advisory) to periscope the money in a better manner. Starting his journey from Rajkot, family office (multi-family office). Just like our it was indeed tough to convince the clients to invest in investments, we give time to relationships to get nurtured, mutual funds as the traditional investment products were mature and grow.” He continues to add, “we have always the flavour of the market and the investors in equity focused on classes, instead of the masses. As a principal, markets had recently burnt their hands. To begin with, he we have never given a follow-up call to our clients, and this focused on guiding his clients towards liquid and debt is simply because we trust our sound research into the funds, as these categories of funds were more market through which we guide the investors. We firmly conservative in approach. As the time progressed and believe that if the investment approach is right, the markets recovered, the investors' confidence was back to investor will definitely appreciate that, sooner or later.” invest in stock markets. Their current AUM of more than ` 500 crores in Mutual Funds alone, bears testimony to that. Viral shares his success mantra, “We focus entirely on the needs of the investors and then guide them towards the A prudent asset allocation strategy for their clients has right product in the markets. The journey which started off helped them restrict the portfolio downside. In the current once with just mutual funds has now culminated into a times, they have advised their clients to continue to stay one-stop shop for all the financial solutions to our clients, invested as such falls in the markets have historically be it mutual funds or insurance or credit rating advisory proven to be great investment opportunities. It is just services. Further, we invest heavily in building our research about spending some time in the markets to reap the team and capabilities. The research team focuses solely benefits of the uptrend.When it comes to investing, most Indian investors take a education, yet no one got bored. Kanak believes in building Kanak Jainconservative approach and still rely on traditional the investors for tomorrow. ARN - 41379investment avenues because of lack of knowledge aboutalternative avenues. No wonder they are rather cynical With his goal of imparting financial literacy, Kanak Kolkataabout investing their money in capital markets. partnered with The Rotary Club to formulate a solid program for dissemination across the country and soonIf only, there was a way to educate people about investing the momentum spread over the continent.wisely. People learn faster when they learn something in afun way; That's when “The Volatility Game” was The motto behind this unique approach is: “Play & Growconceived. The game helps the user to learn more about Rich”. To put it in his own words; “My mission in life is tothe market's nature and also have fun. Kanak T Jain, ensure the growth of at least one human being everydayconceived this innovative game while he was attending a through financial planning, fun-games and training.”club meeting of Rotary Club in Kolkata. “The VolatilityGame” is an investment-oriented computer-based team IFAs too can now introduce this game at a corporate levelgame which he offered to play with the Rotarians and the to their investors, making their investor base even moreclub agreed. educated and happier. However, they need to enrol for a license under the Financial Freedom Fraternity. With 15The game presented the history of the financial markets' games in their kitty as yet, the number is expected to grow.ups and downs, the associated facts and figures, and theirimpact on investors. With each round of the game, the The member IFAs of The Financial Freedom Fraternity, aremasses were more curious and more aware. The power of currently growing at a tremendous annual rate of 100%.compounding and its importance in the long term What this means is a well - rounded growth of assets andinvestment process, key financial ratios and their clients under them. Kanak is also the founder of Moneymeanings, the concept of investments helping in nation Magnet Tribe, which certifies students with practicalbuilding and such diverse ideas; were covered through the training on the Capital Market. Regarding a prudentgame. investment strategy for the future, he recommends investing through Systematic Investment Plans andIt was a 90-minute session filled with only financial staying invested across market cycles.It is requested to note that in accordance with SEBI Circular No. SEBI/HO/IMD/DF3/CIR/P/2017/114 dated October 06, 2017 and SEBI/HO/IMD/DF3/CIR/P/2017/126 dated December 04, 2017, certainSchemes of ICICI Prudential Mutual Fund are undergoing Fundamental Attribute change and mergers, as applicable. These changes will be effective from May 28, 2018. For further information please referto notices and addendums available on our website in this regard.The portfolio of the scheme is subject to changes with in the provisions of the Scheme Information Document (SID) of the respective schemes. Please refer to the SID for investment pattern, strategy andrisk factors. Tarakki Times is compilation of articles published in various newspapers/magazines. Due credit is given by disclosing the source for such articles/publication. The articles covered are excerptsof publication by an independent agency and is circulated to the empanelled Advisors/Distributors of ICICI Prudential Asset Management Company Limited (the AMC). ICICI Prudential Mutual Fund (theFund) does not warrant the accuracy, reasonableness and/or completeness of any information. All data/information used in the preparation of this material is specific to a time and may or may not berelevant in future post issuance of this material. The AMC takes no responsibility of updating any data/information in this material from time to time. The AMC (including its affiliates), the Mutual Fund, TheTrust and any of its officers, directors, personnel and employees, shall not liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential,as also any loss of profit in any way arising from the use of this material in any manner. The sector(s)/stock(s) mentioned in this communication do not constitute any recommendation of the same and ICICIPrudential Mutual Fund may or may not have any future position in these sector(s)/stock(s). The recipient alone shall be fully responsible/are liable for any decision taken on this material.Mutual Fund investments are subject to market risks, read all scheme related documents carefully.