ICICI Prudential Banking and PSU Debt Fund
ICICI Prudential Mutual Fund · Best Banking & PSU Mutual Funds
This is the Direct plan of ICICI Prudential Banking and PSU Debt Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.
NAV history
Scorecard
★★★★☆4/5 vs 19 Banking and PSU Fund peers- Performance 60%
- Risk 15%
- Cost 10%
- Downside 15%
How this is computed
Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Banking and PSU Fund (same plan and option).
3Y CAGR +7.14% · ranks 5 of 19 Banking and PSU Funds
Volatility 1.1% vs 1.1% category avg
0.4% expense vs 0.3% category avg
100% of rolling 3Y windows were positive
Strengths & concerns
Generated from this fund's own numbers against its sub-category — each point names the figure behind it.
Strengths
- Stronger risk-adjusted returns — Sharpe 0.60 vs 0.51 Banking and PSU Fund average
- Consistent — positive in 100% of rolling 3-year windows
Concerns
- High expense ratio (0.40%) vs the Banking and PSU Fund average of 0.34%
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk
Fund vs category average (Banking and PSU Fund)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | -0.06% | +0.01% | -0.07% |
| 3M abs | +0.32% | +0.51% | -0.19% |
| 6M abs | +3.45% | +3.33% | +0.12% |
| 1Y CAGR | +5.24% | +4.83% | +0.41% |
| 3Y CAGR | +7.14% | +7.02% | +0.12% |
| 5Y CAGR | +6.62% | +6.27% | +0.35% |
Category average across peers in Banking and PSU Fund (up to 19 funds with data), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).
Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.
Category rank
Vs 19 peers in Banking and PSU Fund
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
60 monthly installments of ₹10,000 into ICICI Prudential Banking and PSU Debt Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.
Calendar-year returns
What the fund actually returned in each year, not the smoothed average.
| Year | Fund | |
|---|---|---|
| 2026part | +3.63% | |
| 2025 | +8.00% | |
| 2024 | +8.24% | |
| 2023 | +7.71% | |
| 2022 | +4.73% | |
| 2021 | +4.69% | |
| 2020 | +9.78% | |
| 2019 | +10.60% | |
| 2018 | +6.13% | |
| 2017 | +5.90% |
January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in.
Taxation
Taxed as debtThis is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — every rupee of gain is added to your income and taxed at your income-tax slab rate, whatever the holding period.
Your income-tax slab — no LTCG or indexation benefit
Pick your slab to see the rate that applies to you.
Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.
Asset allocation
As on 31 Aug 2026 · AMC disclosure- Debt95.54%
- Cash & Equivalents4.10%
- Other0.36%
Fund size over time
Quarterly average AUM · AMFIDown +6% from its peak of ₹9,507Cr in January - March 2026. Size matters most where the mandate is narrow — a large small-cap or a very large flexi-cap book is harder to move without moving the price.
Net flow is an estimate: AMFI publishes a quarterly average AUM, not a closing balance, and it covers every plan and option of this scheme together, so it is a read on direction and rough size rather than a cash-flow statement.
AMC Profile
ICICI Prudential Mutual Fund is a joint venture between ICICI Bank and Prudential plc of the UK, in business since 1993. It is among India's largest houses by assets and runs one of the industry's widest scheme line-ups across equity, debt and hybrid.
Fund Managers
RLRohit LakhotiaManaging since 12 Jun 2023
Fund Manager – Fixed Income
Bachelor of Technology (Honors) Electrical Engineering from NIT Rourkela and MBA from Indian Institute of Management (IIM), Mumbai and Chartered Financial Analyst (CFA)
Mr. Rohit Lakhotia is associated with ICICI Prudential Asset Management Company Limited from May 2016. He was appointed as Fund Manager with effect from June 12, 2023. He has over 14 years of experience. Past Experience: Yes Bank Limited – Corporate Banking – May 2012 to May 2016 Samsung India(R&D) Centre, Noida – Senior R&D Engineer – July 2008 – July 2010.
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MBManish BanthiaManaging since 13 Sep 2024
Chief Investment Officer - Fixed Income
Chartered Accountant, MBA and B.Com
Mr. Manish Banthia is the Chief Investment Officer for the Fixed Income Investments. He is associated with ICICI Prudential Asset Management Company Limited since October 2005. He has an overall work experience of around 21 years. Past Experience: ~ ICICI Prudential Asset Management Company Limited - Fixed Income Investments - August 2007 to October 2009. ~ ICICI Prudential Asset Management Company Limited - New Product Development - October 2005 to July 2007. ~ Aditya Birla Nuvo Ltd. – June 2005 to October 2005. ~ Aditya Birla Management Corporation Ltd. – May 2004 to May 2005.
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Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Benchmark and dealing terms from it and this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.
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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.
About Banking & PSU funds
Banking and PSU funds must keep at least 80% in the debt of banks, public sector undertakings, public financial institutions and municipal bonds. That issuer restriction is the category: it targets high-rated, quasi-sovereign borrowers, so credit risk is low and the main risk left is interest rates.
From the blog
Frequently asked questions
What is the NAV of ICICI Prudential Banking and PSU Debt Fund?
As of 05 Oct 2026, the NAV of ICICI Prudential Banking and PSU Debt Fund is ₹36.52 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has ICICI Prudential Banking and PSU Debt Fund delivered?
ICICI Prudential Banking and PSU Debt Fund has returned +5.24% over 1 year, +7.14% per year over 3 years, +6.62% per year over 5 years and +7.98% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.
What is the expense ratio of ICICI Prudential Banking and PSU Debt Fund?
ICICI Prudential Banking and PSU Debt Fund charges an expense ratio of 0.40% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.
What are the top holdings of ICICI Prudential Banking and PSU Debt Fund?
ICICI Prudential Banking and PSU Debt Fund's largest holdings are NABARD (4.3%), LIC Housing Finance Ltd. (3.7%), Government Securities (3.3%), NABARD (2.9%) and Rural Electrification Corporation Ltd. (2.9%). Holdings are disclosed monthly and change over time.
How risky is ICICI Prudential Banking and PSU Debt Fund?
ICICI Prudential Banking and PSU Debt Fund is rated low to moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.1% and its worst peak-to-trough fall in our sample was -2.9%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.
What does the Sharpe ratio of 0.60 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. ICICI Prudential Banking and PSU Debt Fund's 0.60 means it has rewarded its volatility with excess return. Higher is better.
What is the benchmark of ICICI Prudential Banking and PSU Debt Fund?
ICICI Prudential Banking and PSU Debt Fund is benchmarked against the Nifty Banking and PSU Debt Index A-II. Its alpha and beta on this page are measured against that index.
Who manages ICICI Prudential Banking and PSU Debt Fund?
ICICI Prudential Banking and PSU Debt Fund is managed by Rohit Lakhotia and Manish Banthia at ICICI Prudential.
How is ICICI Prudential Banking and PSU Debt Fund taxed?
ICICI Prudential Banking and PSU Debt Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.