Tarakki Times English July 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 | JULY 2018 | PAGES 10Pg. 2 Mutual appealBAF aids an investor Mutual funds offer a better route for new investorsto buy low and sell than direct investment in equities, says Nimesh Shahhigh through a model-based approach S Naren, ED & CIO ICICI Prudential Mutual FundPg. 3Play safe, do notexpect big gainsin next 1 year S Naren, ED & CIO Nimesh Shah The Telegraph | July 16, 2018 random step rather than a ICICI Prudential Mutual Fund MD & CEO consistent exercise. But in the ICICI Prudential Mutual Fund Such changes in investing case of mutual fund invest- Adviser Talk Series preferences can be triggered by ments, one has the opportunity Generally, investments in company-specific information or to invest in a phased and steadyPg. 4 equities are made with an aim to even macro-economic develop- manner through a systematicAdviser Talk generate wealth over the long ments. In a mutual fund house, investment plan (SIP) where one term. In the light of the bull run on all such changes are analysed by can decide on a particular sum of Fund Review the bourses over the last two a team of research analysts, who money to be invested everyPg. 5 years, many retail investors have back the investment decisions month. started considering equities as made by the managers. So, for aICICI Prudential Equity & Debt Fund an asset class to reckon with. nominal fee, an investor gets By investing through SIPs in However, the mode of partici- access to the best research and mutual funds, one gets theA deft juggler of equity and pation in the equity markets is investment decisions. opportunity to inculcate andebt very important - either buying investment discipline which is stocks directly from the exchan- Diversification of portfolio necessary to enjoy the financialICICI Prudential Value Discovery ges or investing through mutual freedom later in one's life andFund funds. For a novice, mutual funds Mutual funds pool in the money helps the investor in having are a more prudent approach to of various investors and invest in peace of mind.One Fund Review the capital market. a basket of securities. As such,Pg. 6 it results in an automatic diver- Consistent investing through Professional management sification of your portfolio. While SIPs also takes away theFund Pick buying the stocks directly, one liberty to defer the investment To invest directly in the equity should consciously decide to decisions which may be basedICICI Prudential Value markets, one must study the diversify across sectors, which is on emotional biases consideringDiscovery Fund fundamental aspects and the not an easy task. the present market trends. Also, future growth prospects of a by investing through mutualPg. 7 company and the sector it is part By investing through a mutual funds, one gets the opportunity of. However, amidst one's busy fund, one gets exposure to to ride the market volatility byICICI Prudential Bluechip Fund schedule, there is never enough various sectors. Such an arrange- taking the advantage of rupee time to do adequate research. ment ensures that the overall cost averaging.Consistent outperformer in performance tends to belarge-cap category across Investing without proper re- balanced as the extremes in a Transparency in portfoliomost periods search may not be a good idea to few securities get moderated make the best use of your hard- with the performance of other Mutual funds, as an investmentPg. 8 earned money. Here, mutual investments in the portfolio. product, are governed by regula-List of ICICI Prudential Funds funds emerge as a smart choice Even the stock markets' per- tions issued by the Securitiesin Mint as investment decisions in a fund formance is measured through and Exchange Board of IndiaSIP Top UP house are taken by professional benchmark indices, that is S&P (Sebi) which has mandated the fund managers after extensive BSE Sensex and Nifty 50, which fund houses to disclose the NAVPg. 9 research and analysis. are a basket of 30 and 50 stocks, on a daily basis and theirETW Funds 100 respectively. portfolios on a monthly basis.Systematic Investment Plans It is important to understand that This ensures that investors get to investing entails not only buying Convenience of investing know where their invested sum Tarakki Corner securities, but also knowing how has been deployed. Pg. 10 much to buy, when to book While investing in equities profits by selling some of the directly, one has to proactively Further, even the expense, which Jawahar Motwani existing investments and when monitor the market and make in mutual fund parlance is known ARN - 9772 to completely exit. investing decisions on the go. Chhattisgarh So, investing directly becomes a Contd. on page 2

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, JULY 2018 Interview BAF aids an investor to buy low and sell high through a model-based approach Dalal Street Investment Journal | June 14, 2018S Naren move between 30-80% on the debt market from time-to-time. performing asset class andED & CIO basis of the in-house model The debt exposure as on May 31, adding in underperformingICICI Prudential Mutual Fund followed. 2018 stands at ~32%. Within the assets. Such an arrangement debt holdings, the scheme has a ensures that the investor getsDo you think it’s the right time Please elaborate your stock and higher exposure towards good the opportunity to participate into invest in Balanced Advan- debt selection strategy? credit quality instruments to the market upside, while in casetage funds? benefit from higher carry. of a market correction, the The equity segment of Balanced presence of debt componentWe have been encouraging Advantage Fund currently has a What are the factors you ensures that the downside isinvestors to opt for balanced bias towards large-caps and consider while arriving at protected. Additionally, such anadvantage category of funds structurally strong companies appropriate asset allocation arrangement is superior togiven its ability to limit downside which have demonstrated track (between equity and debt)? investing individually in equityrisk in a falling market, while record over time. As on May 31, and debt on two counts for aaiming to capture the upside in a 2018, the net equity exposure of The scheme uses an in-house retail investor.rising market. This is because we the scheme stands at ~37% as asset allocation model tobelieve the markets are likely to against ~33% in the prev- maintain an e$ective equity 1) Such funds save an investor'sremain volatile over the next 18 ious month. This is based on investment. Based on the model, time and energy in activelymonths owing to a variety of valuations, along with the the allocation towards equity and tracking the market anddevelopments in global and macroeconomic parameters debt is determined on an constantly making changes todomestic markets. In such a incorporated in the model. ongoing basis. one's asset allocationsituation, the balanced advan-tage category of fund emerges In terms of stock selection, the What will be your suggestion to 2) When rebalancing theas the optimal investment option scheme is a blend of large-cap a retail investor about portfolio, one may end up(especially lump sum) given the and mid-cap stocks. While the investment in BAF? attracting tax incidences.fund’s ability to dynamically large-cap stocks representallocate assets (equity and established enterprises selected An investor’s main goal when In a live case we can see thisdebt) based on relative market from the Top 100 stocks by investing into equities should be working in the case of ICICIconditions, i.e. the scheme market capitalisation, the mid- to protect the potential Prudential Balanced Advantageallocates higher in equity when caps and small-caps represent downside risks during market Fund. In FY11, when the S&Pthe equity market valuation is business entities with long-term corrections, and this is what the Sensex TRI grew by 11.48%, thelow and lower when the equity growth potential. The allocation balanced advantage category of fund grew by 9.87%. In the nextmarket valuation is high. The net is decided on a tactical basis, scheme does. Such type of fund financial year (FY12), the BSEequity level of ICICI Prudential rather than any predefined ratio. aids an investor to buy low and Sensex TRI was down by 9.06%,Balanced Advantage Fund can The scheme uses derivative sell high, through a model-based and during the same period, ICICI instruments for the purpose of approach, such that the investor Prudential Balanced Advantage hedging or portfolio rebalancing has a good investor experience Fund grew by 5.77%. Same thing or for any other stock and/or over a period of time. happened in Fy16, where Sensex index strategies as allowed TRI was down by 8.9%, but the under SEBI regulations. Here, the fund manager shifts fund was up by 0.75%. exposure between equity and The debt portion is dynamically debt based on the basis of a managed to exploit the various predefined valuation model by opportunities available in the reducing positions in the best-Mutual appeal Contd. from page 1as the total expense ratio of a Fixed income securities are markets with a monthly invest- portfolio mix and select thescheme is also regulated by Sebi usually issued by corporates in ment of as low as Rs 1,000 per appropriate fund.and is required to be disclosed bigger lots, for example a month through an SIP.by the fund houses. With all such debenture of Rs 10 lakh each. A Mutual funds are relativelyinformation at one's disposal, retail investor may not be able to Here, given the plethora of hassle free for investors notinvestors can take an infor- capitalise on the investment options in terms of the products well-versed with the market.med decision about their opportunities in the fixed income available, an investor can choose Investors can make the most ofinvestments. segment because of the higher an investment product based on the capital markets by investing ticket size. one's risk appetite and financial through a mutual fund, a productWider investment options goals with the help of a financial which is well regulated by Sebi Similarly, to invest in foreign adviser. Further, mutual funds and is transparent and backed byMutual funds render you with an equities, one needs to ensure schemes offer a variety of a long-term track record.opportunity to invest not only in compliance with laws governing options in terms of their invest-equities but also in avenues foreign exchange and other ment mandate, ranging widely in The writer is MD & CEO of ICICIwhere direct investing may requirements to invest in foreign the kind and size of companies, Prudential AMCalways not be possible for a retail securities. A retail investor can the sectors, asset classes,investor such as fixed income get the same access via mutual foreign companies etc. One justand international stocks. funds which invest in the global has to decide on the desired

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, JULY 2018Play safe, do not expect big gainsin next 1 yearThe Economic Times | June 27, 2018S. Naren, Chief Investment Yesterday, some social media That is one reason why it is S NarenOfficer, ICICI Prudential AMC, companies and companies difficult to argue for a big buy call ED & CIOtells ET Now that one should which do not trade any goods, at this point of time. It is more ICICI Prudential Mutual Fundcarefully allocate money in the also came down. important to play defensively tillnext 12-18 months and invest at least some of the clouds go extent in NBFCs. Why are thedefensively because he does not What is the connection between away. We have been articulating PE multiples and the price-to-see markets going much higher a trade war and an internet social a more cautious stance towards book ratios expanding in thesefrom here. Edited excerpts: media company? My belief is markets. The reason it is difficult sectors? Who are these that the recent decline is more a to be bearish right now is be- investors buying them at suchWhy are you planning an NFO function of valuations, which are cause there is a massive earn- rich valuations?in the healthcare sector? Isn't elevated in the western world, ings growth potential in the nextthat a contrarian bet? particularly the US. That makes two years in large caps. Clearly, I believe they are a set of global India a much better proposition, about 30-40% earnings growth investors who are willing to sayIt was a deeper contra bet one but in the US and other places over the next two years is that there is problem of terminalmonth ago than it is today. It was corporate profit as a percentage possible. value in a wide variety of sectors,an underperformer of more than of GDP is at a record high. In In- but when it comes to toothpaste30% or so in the past two-three dia, it is at a 10-year low. That Would you like go contrarian in and soap, there does not seemyears. Particularly, the underper- to be any disruptions. So, peopleformance in smallcaps and For us, healthcare is very are comfortable giving a goodmidcaps was steeper. You can be easy because as the terminal value growth to thesecontrarian. but you should have population gets older and sectors. But I do not think thethe conviction that in the long as the country becomes sector is over-owned. The sectorrun, it is a sector which can do more prosperous, one of the which was over-owned waswell. key indicators we have smallcaps and midcaps and seen across the world is these have been correcting.For us, healthcare is very easy that healthcare, as abecause as the population gets percentage of the GDP What is the direction theolder and as the country be- goes, up. markets can take from herecomes more prosperous, one of given the three importantthe key indicators we have seen makes India better. some of the corporate banks? headwinds of high oil price,across the world is that high interest rates as well ashealthcare, as a percentage of What is your take on financials? As a house, the quantum of trade war tensions?the GDP goes, up. That was also corporate banks we must beevident from the announce- Corporate banks are trading at owning is pretty significant We have been approaching thements made in the budget this pretty low valuations, while relative to what we would have market defensively which is whyyear. We believe that over the some retail lenders are trading at had earlier. There is a good we like balanced advantage,next 10, 20, 30 years, more record high valuations. The opportunity in corporate banks short-duration debt, medium-money will be spent on market clearly believes you can over the next two to three years. term systematic transfer planshealthcare. keep growing on just consumer Having said that, we are (STPs) and long-term SIPs. We loans and car loans and comm- believers in corporate CASA are not big believers in bigIs a bigger market correction in ercial vehicle loans. banks rather than those where returns in the market in the nextstore in the next few months you have to borrow in the 12 months, but we believe thatbecause of the trade war How should one invest in wholesale market. the next 12-18 months is a periodbetween the US and China? domestic companies when to slowly allocate money to work interest rates are likely to go What about the froth in the and invest defensively. That'sI do not know. It is difficult to be- higher? consumer space and to a large because somehow, I do notcome an expert on these trade believe that markets will bewars sitting in India. We see the much higher than where we aretweets and the reactions to today. Which is why defensiveunderstand the impact. The investing is the way to go.problem globally is that themarkets are not cheap, and earn-ings have already come. At leastin India, one advantage is thatearnings are yet to come. Thereis a combination of earningsbeing elevated, market valua-tions not being cheap and aninterest rate cycle that is goingup. The trade war provides agood excuse for the markets tocome down from elevatedlevels.

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, JULY 2018 Adviser Talk Series Adviser Talk Morningstar | July 13, 2018 Vatsal Shah How did you convince your 3. Company & Industry con- ETFs will start replicating them Head - Wealth Management direct equity investors to centration and gain momentum. Sushil Finance invest in mutual funds? Was it a challenge? 4. Rolling returns and their res- What are your plans to growAt ICICI Prudential Mutual Fund, pective standard deviations your business in the next threewe believe that financial advisors Our study showed that more over various time periods - years? What are your key focusare the strongest link between a than 80% of listed stocks failed preferably 3 years. areas?fund house and its investor. In to give returns higher thanour commitment to serve the inflation rate over a long-term How have you adopted Our current mutual fund AUM isadvisor community well, we period of 10-15 years. And technology to cater to digital ` 500 crore. With booking of ` 3continue to anchor several mutual funds have outperformed investing? crore SIP every month, we aim toinitiatives from time to time. stocks over period of five years reach ` 10 crore per month. Still from 2008 to 2013-14. It was We are focused on technology new to the industry, we areAgainst this backdrop, we are evident that investing in stocks and around 90% of our new SIP happy with our progress. Thelaunching a new initiative in and mutual funds are not registrations are in demat mode industry is currently grapplingassociation with Morningstar mutually exclusive. So we tied through robust exchange with data mismatch and non-India, called ‘Adviser Talks’ - a live mutual fund investing to goals platforms, which eliminates updated KYCs. By focusing onvideo interaction series that will and for wealth creation we still errors. In the future, AUM in investor education and mini-chronicle learnings of financial mizing errors, we hope to moveadvisors in their journey to ‘Adviser Talks’ to the next level.success. A live video interaction series What would be your advice toA total of 24 live interactions will that will chronicle learnings brokers wanting to diversifybe held on a fortnightly basis via of financial advisors in their into mutual fund distribution?Facebook Live. The idea is to get journey to success.a peek into lives of leading Brokers believe that mutual fundadvisors and take cues from their recommend stocks to our demat shall prevail. advisory will cut into theirstories. clients. Additionally factors like primary revenue. But, mutual public issue failures and various How are you leveraging your fund advisory is less onerousWe will go live with the first scams made it easier to guide sub-broking network to grow compared to equity broking.interaction of ‘Adviser Talks’ on our clients. your mutual fund book? With lower level of penetration,July 03, 2018. even in urban cities, they can Could you share with us the Like retirement planning, we leverage the exchange platformsYour firm started with stock robust research methodology advise our sub-brokers, to start and sell value products to theirbroking and diversified into you follow for shortlisting early; they have sizeable assets captive client base; and notmutual fund distribution. funds? under advisory, by 60 years. Their ones that offer the highestCould you tell us what made clients will invest in mutual commissions.you shift focus towards mutual Before recommending, we make funds, if they don't provide,funds? sure that we research the someone else will. This moti- How do you think independent schemes thoroughly. Our long- vates our network. financial advisers can tackleIn 1982, we began as primary term principle forms the basis for the competition from onlinemarket brokers with focus on selecting funds using these As markets mature, do you investing platforms?IPOs. We started selling new parameters: think exchange traded funds, orfund offers until 2010. Our ETFs, will become more popu- In India, internet is only graduallychairman and my father, Mr. 1. Checking normalized returns lar in India going ahead? increasing and mutual fundsSushil Shah, who studied mutual over point to date returns penetration is still very low.fund penetration data and GDP, Yes, direct plans will be replaced Hence, the market can berealized that in India, total AUM 2. Independent draw-downs by cost effective ETFs. As ex- shared. On a standalone basis,to GDP ratio was only 2% in 2010 over different periods changes introduce new indices, there will be 4-5 platforms withwhile globally, including a few sizeable assets. They may havedeveloping countries it was 10- bigger volumes but not wides-12%.As regulatory landscape pread distributor reach. Roboevolves, the industry is poised to advisers are meant for self-grow. Hence, we diversified into directed investors.mutual funds. Data has been given to you - Published by Morningstar India.

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, JULY 2018 ICICI Prudential Equity & Debt Fund A deft juggler of equity and debtThe Hindu Business Line | July 09, 2018A good bet to cash in on market rallies and cap losses during choppy marketsThe recent volatility in the market, driven long run, is a good fund to bet on. 2016, its select picks in banking, power, and by the sharp fall in mid-cap stocks, has oil and gas helped deliver healthy returns. rattled investors, no doubt. But if you Given that the fund has been investing 65-74are a long-term investor looking to build per cent in equity over the past 3-4 years, not On the debt side, too, the fund has been ablewealth for a specific goal, avoiding equities much changes post the SEBI directive. to take the right calls. In the 2014 bond rally,altogether may not be prudent. the fund upped its exposure to longterm Over three- and five-year horizons, the fund government securities to 19-20 per cent,Good quality equity-oriented funds that can has delivered 10-17 per cent returns, beating subsequently paring it 15-16 per cent in thehelp cash in on the rally in equities, while the category by about two percentage lacklustre 2015 market.providing a cushion through debt exposure, points.offer just the solution. Steady performer Portfolio choicesBefore SEBI’s directive on categorisation In 2017, in view of rising rates, itand rationalisation of mutual fund schemes, While the fund predominantly invests in substantially cut down its exposure tobalanced funds - both equity- and debt- large-cap stocks on the equity side, it has government securities to 11-14 per cent oforiented - were loosely defined, and varied made timely investments in mid-cap stocks the portfolio. A top-quartile fund over longacross fund houses. SEBI has now defined as well, to boost returns, as it did in the 2014 tenures, ICICI Pru Equity & Debt hashybrid schemes more rigidly, with six pre-set rally. managed to put up a good show acrosscategories. market cycles. Deft juggling between equity and debt hasOne of the categories of funds, Aggressive also helped it deliver category-beating In 2017, however, it slightly underperformedHybrid Fund, in which SEBI mandates 65-80 returns. In the 2014 rally, for instance, the its category. Reducing exposure to IT stocksper cent investment in equity, is good to opt fund upped its equity exposure to 68-70 per (that made a comeback) and predominantfor. Exposure of at least 65 per cent to equity cent most of the time, from 65-67 per cent exposure to large-cap stocks appear to havegives ample opportunity to cash in on through 2013. In the beginning of 2017, in impacted returns.market rallies, while 20-35 per cent debt light of rising markets, the fund broughtexposure offers some cushion in choppy down equity exposure to 65-68 per cent, Adding exposure to defensive tech stocksmarkets. from 70-75 per cent in the end of 2015. and paring holdings in banks this year should help the fund tide over volatilityICICI Prudential Equity & Debt Fund - Prudent sector and stock calls have also better.erstwhile ICICI Prudential Balanced Fund - helped rake in good returns. In the 2014 rally,which has been a steady performer over the the fund latched on to cyclicals, while inSteady performance over the long runAssets as of May 31, 2018: `28,743 crore Annual returns (in %) Fundas 67.0% Equity ICICI Prudential Equity & Debt Fund Predominantly large-cap Category Top-quartile performer over long periods 10.1% CPs and CDs 17.4 Deft stock and sector calls 15.3 9.4% Corporate bonds 10.4 7.6% G-Sec 8.6 4.9 6.2 5.9% Cash and equivalent 1 year 3 years 5 years ICICI Prudential Value Discovery Fund One Fund ReviewMint | May 2018 Mint 50 is a curated list of 50 Return How ` 10,000 has grown investment-worthy funds. mint 1,70,000 ICICI Prudential Value Discovery Fund 1,40,190 1,50,000 S&P BSE 500 Index 50BEST 1,30,000 FUNDS 1,10,000ICICI 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 10,000

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, JULY 2018 Fund Review Fund Pick ICICI Prudential Value Discovery FundThe Telegraph | June 18, 2018Equity: Large capInvestment Objective: To generate returns through a combination of dividend income and capital appreciation by investing in a well-diversified portfolio of value stocks.Aggregates Performance Statistics Returns Fund BSE 500 RankPortfolio Fund BSE 500 Mean Mthly return Fund Category 1-year 8.6 11.6 138/181Total Assets 16,887* 1.32** Std. Dev 8.16 9.97 2-year 11.5 16.9 166/172Total Securities Sharpe Ratio 13.04 13.69 3-year 9.4 12.3 144/161Turnover ratio (%) 39 500 0.13 0.26 5-year 22.8 15.5Avg PE 70 - Since launch 21.33 2/150 18.96 -- 29.62*Rs crore; **Rs lakh crore Top Sector Weights % of stocks Top Holdings % of assets InformationEnergy 17.8 Sun Pharmaceuticals Inds. 9.7 www.icicipruamc.comTechnology 15.1 Infosys 5.9 NAV: ` 145.17 (15/06)Financial 14.3 Wipro 5.6 Entry Load: NilHealthcare 11.6 Mahindra & Mahindra 5.5 Expense Ratio: 2.11%Automobile 7.0 NTPC 5.1 Exit Load: 1% for redemption withinEngineering 5.2 Power Grid Corporation 4.9 365 daysServices 5.1 ITC 3.9 Plan: Growth, DividendFMCG 4.4 HDFC Bank 3.7 Launch: July 2004Construction 3.7 Indian Oil Corp. 3.5 Benchmark: S&P BSE 500 IndexChemicals 2.3 State Bank of India 3.4Quarterly Fund Return(%) +\- Category Average Performance 3000 9 6 2000 3 1000 Growth of `1,000 00 -3 -1000 -6 Fund Return +\- Category Average -2000 Category Baseline -9 Growth of `1000 -3000 2013 ‘18 2014 2015 2016 2017 Portfolio ManagersMrinal Singh is fund manager since February 2011. Singh is B.E (Mechanical) and PGDM from SP JIMR Mumbai. He has been associatedwith ICICI Prudential AMC since June 2008

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, JULY 2018 ICICI Prudential Bluechip FundConsistent 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.8 TARAKKI TIMES, JULY 2018 Fund Reviewmint List of ICICI Prudential Funds in Mint30BESTFUNDSMint | July 2018FUND CORE 3-year return (%) 5-year return (%) 10-year return (%) Fund size (Rs cr)EQUITY-LARGE CAPICICI Prudential Bluechip Fund 11.19 17.44 15.70 17,496.16ICICI Prudential Nifty Next 50 Index Fund 12.88 19.38 - 246.05TAX SAVINGICICI Prudential Long Term Equity Fund 10.49 20.05 15.45 5,257.85(Tax Saving)AGGRESSIVE HYBRID 10.65 17.62 14.17 28,266.47 Fund size (Rs cr)ICICI Prudential Equity & Debt Fund 1-year return (%) 2-year return (%) 3-year return (%)FUND CORE 4.14 6.91 7.75 8,329.53DEBT-ORIENTEDSHORT DURATIONICICI 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 (%) 10,85,058 43,19,559 Midcap Fund 17.61 18.05ICICI Prudential Return (%) 10,00,677 37,53,841Bluechip Fund 13.66 15.28ICICI Prudential Equity Return (%) 9,92,843 37,81,709 & Debt Fund 13.43 15.42 ICICI Prudential Return (%) 9,44,798 34,23,825Large & Mid Cap Fund 11.22 13.29ICICI Prudential Return (%) 9,76,626 36,23,575Multi-Asset Fund 12.59 14.49ICICI Prudential Return (%) 10,12,336 37,37,752Multicap Fund 14.3 15.03ICICI Prudential Balanced Return (%) 9,46,228 34,37,649 Advantage Fund 11.21 13.38 ICICI Prudential Return (%) 9,49,608 --Focused Equity Fund 11.35 -- ICICI Prudential Return (%) 9,44,735 44,12,235Value Discovery Fund 14.44 18.96ICICI Prudential Long Term Return (%) 9,99,346 38,98,691 Equity Fund (Tax Saving) 13.68 16.17Data in XIRR (%) terms and as of June 30, 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.Fund Review 9TARAKKI TIMES, JULY 2018ETW Funds 100List of ICICI Prudential Funds in the Economic Times WealthET Wealth | July 2018FUND Value Research Returns (%) Fund RatingEQUITY: LARGE CAPICICI Prudential Nifty Next 50 Index Fund 3-month 6-month 1-year 3-year 5-yearICICI Prudential Bluechip FundICICI Prudential Nifty 100 ETF -3.64 -10.06 5.75 12.09 19.14HYBRID: EQUITY ORIENTED 2.87 -2.6 10.67 10.41 17.17ICICI Prudential Equity & Debt Fund 5.08 1.04 11.86 9.65DEBT: MEDIUM- TO LONG-TERM -ICICI Prudential Bond Fund -0.86 -5.57 4.94 10.21 17.42DEBT: DYNAMIC BONDICICI Prudential All Seasons Bond Fund -0.91 0.62 2.36 7.16 7.67DEBT: CORPORATE BONDICICI Prudential Corporate Bond Fund -0.01 2.17 3.02 9.11 10.72 0.47 2.56 5.15 7.62 8.13Systematic 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 Return (%) 423,577 926,483 1,672,564 3,084,768 ICICI Prudential Return (%) 11.08 17.61 Midcap Fund Return (%) 436,099 841,664 19.48 18.05 Return (%) 13.12 13.66 1,413,486 2,659,378 ICICI Prudential Return (%) 421,609 836,948 Bluechip Fund Return (%) 10.75 13.43 14.72 15.28 Return (%) 414,765 792,779 1,434,744 2,678,011 ICICI Prudential Equity Return (%) 11.22 & Debt Fund Return (%) 9.61 819,841 15.14 15.42 426,786 12.59 1,333,317 2,391,490 ICICI Prudential 11.60 854,800 Large & Mid Cap Fund 425,373 14.30 13.07 13.29 11.37 792,664 1,385,975 2,549,512 ICICI Prudential 414,306 11.21 Multi-Asset Fund 795,259 14.17 14.49 9.53 11.35 1,463,593 2,624,128 ICICI Prudential 423,185 857,724 Multicap Fund 11.01 14.44 15.71 15.03 411,549 842,093 1,320,695 2,402,761 ICICI Prudential Balanced 13.68 Advantage Fund 9.07 12.81 13.38 425,070 1,310,683 -- ICICI Prudential 11.32 -- Focused Equity Fund 12.59 1,551,229 3,238,624 ICICI Prudential 18.96 Value Discovery Fund 17.35 1,455,355 2,788,970 ICICI Prudential Long Term 16.17 Equity Fund (Tax Saving) 15.55Data in XIRR (%) terms and as of June 30, 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.10 TARAKKI TIMES, JULY 2018 Tarakki CornerYour YToaur rTaarakkkki CiornCer ornerJawahar Motwani The one-stop planner- Jawahar Motwani. own money and canvasses clients through word of mouthARN - 9772 referrals. He has rapidly expanded his business. His AUMChhattisgarh Raigarh, a small district in Chhattisgarh, is a bustling place is presently ` 110 crores. (As on July 2018) With clientele for mutual fund business today. Where once people put spread to cities including Delhi, Mumbai and Hyderabad, faith in gold, real estate and post office schemes, now they he continues to serve them online through his website. have started looking for other avenues for investment. And he is glad that many of his SIP portfolios are in the Jawahar Motwani, an AMFI certified financial advisor Solitaire or SIP clubs of various fund houses. guides clients in mutual funds and real estate investment under the banner of Motwani Consultancy. It offers a His inspiration was his late father, a successful LIC Agent variety of financial services from Insurance, Real Estate who was a Million Dollar Round Table (MDRT) club winner Investment, Mutual Funds, Portfolio management to from 1982. He believes in independence, dedication and taxation. Active on social media with varied interests and a hard work towards his success. Impressed by his semi-finalist in several famous talent hunt platform perseverance, Shri D K Saraogi of Jindal Steel and Power exclusively for financial advisors, Jawahar has become a Ltd once presented him with a helmet as he used to well-known name in the industry. commute daily to spend hours with the plant employees to educate and guide them in investing. With an MBA from Bilaspur, he made a foray in real estate investment in the year 2008. Independently handling 4 to 5 The secret of his success includes networking, developing projects gave him the experience and contacts for future trust, educating them on financial planning, offering a clients. He convinced these clients to invest in mutual bouquet of services, and sharing the gains with the clients. funds through SIPs. In 2012, it yielded results. This Overcoming the mindset of the people to invest through incentive led to the expansion into mutual fund investment SIPs is a challenge he faces everyday with ease. And and advisory. competition keeps him agile and updated. He believes connecting with the client, becoming their family advisor, A staunch advocate of investments through SIPs, he also guiding and serving them to the best of his ability. independently researches suitable schemes, invests hisIt 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.