ICICI Prudential Balanced Advantage Fund

An Open-Ended Equity Fund

August Review Note

Only for reading and understanding of distributors and advisors of ICICI Prudential
Mutual Fund

Why ICICI Prudential Balanced Advantage Fund ?

About the Fund

The Scheme uses an in-house model, based on a long-term historical mean Price to Book Value
(P/BV), with a view to limit the downside risk during a falling market, while aiming to capture the
upside in a rising market.

Launched on December 30, 2006, ICICI

Prudential Balanced Advantage Fund is an
open ended equity oriented fund. The Fund
uses an in-house asset allocation model to
maintain an effective equity investment
level, endeavoured to be above 65%.
However, the actual equity level may go
below 65% after considering the derivative
exposure.

The Scheme is a blend of large and mid-cap stocks. While the large cap stocks represent
established enterprises selected from the Top 100 stocks by market capitalization, the midcaps are
smaller business entities with long-term growth potential. The allocation is decided on a tactical basis
rather than any predefined ratio.
The Scheme uses derivative instruments for the purpose of hedging or portfolio rebalancing or for
any other stock and/or index strategies as allowed under SEBI Regulations.

Investment Style (Equity)

Value

Style
Blend

Growth

Size
Large

The Scheme seeks to provide investors a reasonable opportunity to benefit out of market volatility,
since the Scheme is structured with an intent to benefit from such volatilities.

Mid
Small

Investment Approach

Market Outlook
In India, manufacturing industries show lower capacity utilization at this point, this could bring
operating leverage and help the growth in topline without incurring any additional cost in the near
term. Additionally, local factors also favour India. After two consecutive deficient monsoons, 2016
saw respite as monsoons were about the same level as the long term average or above that. This is
expected to help the crop yield, thus, allowing higher income opportunities in rural India. In turn it
will help increase the spending capacity for rural consumers and thus supporting the growth of
various sectors associated with the rural market.
Zero-interest rates globally is expected to move institutional money in the developed world from
fixed income to equity market. With India among the fastest growing large-size country, the Indian
stock markets could benefit as better returns for sustained time period is possible. Additionally the
government is being supportive in creating conducive business environment, therefore, there is high
probability of registering good growth.
While local and certain global factors are supportive of Indian equities, there are also other global
factors that could result in high volatility in the stock market such as US rate high or a geo-political
crisis. A cause for concern on the global growth can also result in high volatility.
Hence, for lumpsum investments we recommend investors to invest in dynamic asset allocation
funds such as ICICI Prudential Balanced Fund Advantage Fund.

Uses in-house Price to Book

Value Model

Uses derivative instruments for

hedging or portfolio rebalancing

Invests in Large Cap and Midcap

Stocks

Current Portfolio Positioning

We continue to believe that due to uncertainty in global markets, domestic equity markets could be
volatilie in the medium term. ICICI Prudential Balanced Advantage Fund is well positioned to benefit
from volatility and generate good return over the long term.

Key Portfolio Changes

Portfolio Statistics (Equity)

Top 3 Entries

Top 3 Exits

Lic Housing Finance Ltd.

Tata Global Beverages Ltd.

No. of stocks

75

Dr. Reddy's Laboratories Ltd.

Tvs Motor Co. Ltd.

No. of sectors

25

Bharat Petroleum Corpn. Ltd.

Exide Industries Ltd.

Top 5 Holdings

15.04%

Top 3 Increase

Top 3 Decrease

Top 10 Holdings

25.02%

Sun Pharmaceutical Inds. Ltd.

Titan Company Ltd.

Top 5 Sectors

38.34%

Maruti Suzuki India Ltd.

Acc Ltd.

Top 10 Sectors

52.94%

Hdfc Bank Ltd.

Grasim Industries Ltd.

Portfolio P/E

24.36

Top 3 Sector Increase

Top 3 Sector Decrease

Portfolio P/B

6.67

PHARMACEUTICALS

CONSUMER DURABLES

PETROLEUM PRODUCTS

CONSUMER NON DURABLES

SOFTWARE

CEMENT

Scheme Monthly
Closing AUM as on
AAUM as on
Jun Rs. 13185.96 Crore
July 31, 2016
30 2016

ICICI Prudential Balanced Advantage Fund

An Open-Ended Equity Fund
August Review Note
Only for reading and understanding of distributors and advisors of ICICI Prudential Mutual Fund

Top 10 Holdings
Stocks

Top Sectors (% Holdings)

% to net Assets

Sectors

Feb-16

Mar-16

Apr-16

May-16

Jun-16

Jul-16

10.79%

11.41%

11.55%

11.79%

11.39%

11.79%

Hdfc Bank Ltd.

5.64%

BANKS

Icici Bank Ltd.

2.66%

PHARMACEUTICALS

6.28%

5.80%

6.00%

5.98%

7.60%

8.90%

Maruti Suzuki India Ltd.

2.39%

SOFTWARE

10.66%

10.55%

9.69%

9.92%

8.35%

8.85%

Coal India Ltd.

2.22%

CONSUMER NON DURABLES

5.51%

5.84%

5.59%

5.73%

5.89%

4.97%

Cipla Ltd.

2.13%

FINANCE

3.55%

3.61%

4.26%

4.14%

3.80%

3.83%

Hcl Technologies Ltd.

2.12%

PETROLEUM PRODUCTS

1.48%

1.47%

1.41%

2.26%

3.06%

3.81%

Motherson Sumi Systems Ltd.

2.04%

POWER

2.40%

2.47%

2.99%

3.19%

3.32%

3.09%

Itc Ltd.

1.98%

AUTO

3.05%

2.74%

3.21%

3.39%

3.37%

2.99%

Reliance Industries Ltd.

1.96%

AUTO ANCILLARIES

2.83%

2.66%

2.57%

2.77%

2.64%

2.49%

Bajaj Finserv Ltd.

1.88%

MINERALS / MINING

2.12%

1.83%

2.26%

2.19%

2.25%

2.22%

Portfolio Sector Weightage v/s Nifty 50

% Weight
Nifty 50
Portfolio

Sector

(a)

(b)

BANKS

11.79%

23.96%

PHARMACEUTICALS

8.90%

6.85%

SOFTWARE

8.85%

14.61%

CONSUMER NON DURABLES

4.97%

10.42%

FINANCE

3.83%

6.87%

PETROLEUM PRODUCTS

3.81%

6.28%

POWER

3.09%

2.88%

AUTO

2.99%

11.06%

AUTO ANCILLARIES

2.49%

0.72%

MINERALS / MINING

2.22%

1.31%

Portfolio Market Cap Breakup

Portfolio Underweight / Nifty 50 against benchmark

BANKS

-12.17%
2.05%

CONSUMER NON DURABLES

-5.45%

FINANCE

-3.04%

PETROLEUM PRODUCTS

-2.47%

POWER

0.21%

AUTO

-8.07%
1.77%
0.91%

AUTO ANCILLARIES
MINERALS / MINING

Portfolio Features
Type of Scheme

53%

An Open-Ended Equity Fund

ICICI Prudential Balanced Advantage Fund &
ICICI Prudential Balanced Advantage Fund - Direct;
Options Growth & Dividend

Plans

12%
1%
Largecap

PHARMACEUTICALS
SOFTWARE

-5.76%

Midcap

Minimum Application Amount

Minimum Additional Application Amount
Minimum Redemption Amount

Rs. 5000 (plus in multiple of Re. 1)

Rs. 1000 (plus in multiple of Re. 1)
Rs. 500 (plus in multiple of Re. 1 thereof)

Exit Load

Upto
18 units
months
from
allotment
1% of -applicable
NAV
20% of
upto
18 months
from allotment
Nil
More than 20% of units, within 18 months - 1%
Nil
of applicable NAV. More than 18 months - Nil.

Smallcap

Equity : Manish Gunwani (Managing this fund from Jan

Mr. Manish Banthia managing this Scheme since Nov 2009 &
2012 & Overall 20 years of experience)
has overall 13 years of experience. Mr. Manish Gunwani
Ashwin Jain (Managing this fund since Oct, 2014 &
managing this Scheme since Jan 2012 & has overall 7 years
overall 9 years of experience)
of
experience.
Ashwinthis
Jainfund
managing
this Scheme
Rajat
Chandak Mr.
(Managing
since Sep,
2015 & since
Oct
20148 &
has overall
11 years of experience. Mr. Rajat
Overall
years
of experience)
Chandak
managing
this(Managing
Scheme since
Sep 2015
has overall
Debt : Manish
Banthia
this fund
since&Nov,
2009
0
years of13
experience.
& Overall
years of experience)

Fund Manager

Portfolio Quantitative Indicators

Alpha

6.59

Beta

0.89

Sharpe

1.17

R Squared

0.87

Benchmark Index

Crisil Balanced Fund Aggressive Index

Standard Deviation

9.99

SIP / SWP / STP

Available

Historical Asset Class Breakup

Sensex Levels
31000

Net Equity Exposure

78%

29000

73%

27000

68%

25000

63%

23000
21000
19000

58%
53%
48%
43%

17000

38%

15000

33%

ICICI Prudential Balanced Advantage Fund

An Open-Ended Equity Fund
August Review Note
Only for reading and understanding of distributors and advisors of ICICI Prudential Mutual Fund

Yearly & Cumulative Performance

Growth of Rs. 100,000 invested in the scheme v/s Benchmark Index performance
300
250

150

Lakhs

200

ICICI Prudential
Balanced
Advantage Fund
Crisil Balanced
Fund Aggressive
Index

100
50
0

2007
30.40
36.77

2008
-37.12
-34.41

2009
49.63
48.65

2010
15.24
13.57

2011
-8.77
-14.39

2012
33.33
21.27

2013
10.93
6.05

2014
29.04
25.34

2015
6.70
0.48

2016
8.11
8.45

ICICI Prudential Balanced Advantage Fund

Crisil Balanced Fund Aggressive Index

Systematic Investment Plan (As on July 31, 2016)

Value (Rs) of SIP in
Investment
Period

Total investment (Rs.)

Since Inception
Last 5 Years

Returns (%)*

S&P BSE Sensex

Crisil Balanced Fund

Aggressive Index

ICICI Prudential
Balanced
Advantage Fund

11,50,000

18,05,577

18,60,891

23,03,115

9.12%

9.72%

13.92%

6,00,000

7,84,815

7,97,560

8,99,202

10.68%

11.33%

16.18%

Last 3 Years

3,60,000

4,08,709

4,23,774

4,50,502

8.40%

10.88%

15.10%

Last 1 Year

1,20,000

1,29,407

1,30,155

1,31,114

14.77%

16.03%

17.52%

S&P BSE Sensex

ICICI Prudential
Crisil Balanced
Fund Aggressive Balanced Advantage
Index
Fund

Date of First Instalment : December 30,2006

The data assumes the investment of Rs 10000/- on 1st of every month or the susequent working day. Load and taxes are not considered for computation of returns. Past performance may or may not be sustained in future. *CAGR
Returns are computed after accounting for the cash flow by using the XIRR method (investment internal rate of return). Crisil Balanced Fund Aggressive Index - Scheme Benchmark, S&P BSE Sensex - Additional Benchmark.

Performance (As on July 31, 2016)

Value of Standard Investment of Rs 1,00,000
ICICI Prudential Balanced Advantage Fund

Crisil Balanced Fund Aggressive Index

S&P BSE Sensex

Investment Period
Value (Rs.)

Returns ( % )

Value (Rs.)

Returns ( % )

Value (Rs.)

Returns ( % )

Last 1 Year

107372.40

7.37

104992.63

4.99

99776.98

-0.22

Last 3 Years

169856.46

19.31

146652.88

13.61

145003.08

13.19

Last 5 Years

195997.24

14.41

159538.08

9.79

154154.82

9.04

Since Inception

284000.00

11.51

227768.96

8.97

110346.73

7.69

Returns are in rupee terms assuming a standard investment of Rs.100000 at the start of the mentioned investment period. The scheme benchmark for is Crisil Balanced Fund Aggressive Index and additional benchmark is S&P
BSE Sensex.Loads and taxes are not considered for computation of return.

Dividend History: ICICI Prudential Balanced Advantage Fund

Last 8 Dividends Declared for Dividend Option
Date

Ex-Dividend NAV

Dividend

Date

Ex - Dividend NAV

Dividend

30-Sep-15
19-Sep-14
27-Sep-13
28-Sep-12

15.30
15.43
13.71
12.76

1.55
1.50
1.30
1.40

2-Sep-11
18-Sep-07
---

13.09
10.74
---

1.00
0.60
---

Dividends mentioned above were on a face value of Rs. 10/unit. The NAV of the scheme, pursuant to payout of dividend would fall to the extent of the payout and statutory levy, if applicable. Declaration of dividend is at the
discretion of the trustees. Above statistics on dividend history are in Rs./Unit.
All the above performance are as on 31 July 2016 unless otherwise stated

Past performance may or may not be sustained in future. Returns less than one year calculated on absolute basis and more than one year on CAGR basis
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

This Product is suitable for investors who are seeking*:

Long term wealth creation solution
An equity fund that aims for growth by investing in equity and derivatives.
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them

Disclaimer
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
In preparation of the material contained in this document, ICICI Prudential Asset Management Company Limited (the AMC) has used information that is publicly available, including information
developed in-house. Some of the material used in the document may have been obtained from members/persons other than the AMC and/or its affiliates and which may have been made available to
the AMC and/or to its affiliates. Information gathered and material used in this document is believed to be from reliable sources. The AMC, however, does not warrant the accuracy, reasonableness
and / or completeness of any information. We have included statements / opinions / recommendations in this document, which contain words, or phrases such as will, expect, should, believe
and similar expressions or variations of such expressions that are forward looking statements. Actual results may differ materially from those suggested by the forward looking statements due to
risk or uncertainties associated with our expectations with respect to, but not limited to, exposure to market risks, general economic and political conditions in India and other countries globally,
which have an impact on our services and / or investments, the monetary and interest policies of India, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity
prices or other rates or prices etc. The AMC (including its affiliates), the Mutual Fund, the trust and any of its officers, directors, personnel and employees, shall not be 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
recipient alone shall be fully responsible/are liable for any decision taken on this material. All figures and other data given in this document are dated and the same may or may not be relevant in
future. Investors are advised to consult their own legal, tax and financial advisors to determine possible tax, legal and other financial implication or consequence of subscribing to the units of ICICI
Prudential Mutual Fund. The sector(s)/stock(s) mentioned in this communication do not constitute any recommendation of the same and ICICI Prudential Mutual Fund may or may not have any future
position in these sector(s)/stock(s). Past performance may or may not be sustained in the future. The portfolio of the scheme is subject to changes within the provisions of the Scheme Information
document of the scheme. Please refer to the SID for investment pattern, strategy and risk factors.

Holding of stocks is considered at gross level of exposure without considering derivatives (both long and short)
Market cap break up is as per classification provided by Value Research