ICICI Prudential Multi Asset Allocation Fund
ICICI Prudential Mutual Fund · Best Multi Asset Allocation Mutual Funds
This is the Direct plan of ICICI Prudential Multi Asset Allocation 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.
Performance
Scorecard
★★★☆☆3/5 vs 15 of 36 Multi Asset Allocation 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 Multi Asset Allocation (same plan and option). 15 of the 36 Multi Asset Allocation funds in this cohort carry the full record the stars need, so they are the ones ranked against.
3Y CAGR +13.14% · ranks 11 of 15 Multi Asset Allocation funds
Volatility 8.3% vs 10.0% category avg
0.8% expense vs 0.9% category avg
99% 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
- 5-year return (+14.66%) beats the Multi Asset Allocation average (+12.77%)
- Less volatile than its Multi Asset Allocation peers (8.3% vs 10.0%)
- Consistent — positive in 99% of rolling 3-year windows
Concerns
- Trails the Multi Asset Allocation average on 1M/3M/6M/1Y — 1Y by 5.46pp
- 3-year return (+13.14%) trails the Multi Asset Allocation average (+14.59%)
- Ranks #28 of 31 on 1-year return in its Multi Asset Allocation cohort
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk and benchmark ratios
Fund vs category average (Multi Asset Allocation)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | -4.41% | -3.36% | -1.05% |
| 3M abs | -2.86% | -1.90% | -0.96% |
| 6M abs | +1.80% | +4.56% | -2.76% |
| 1Y CAGR | +0.51% | +5.97% | -5.46% |
| 3Y CAGR | +13.14% | +14.59% | -1.45% |
| 5Y CAGR | +14.66% | +12.77% | +1.89% |
Category average across peers in Multi Asset Allocation (up to 36 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 36 peers in Multi Asset Allocation
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 Multi Asset Allocation 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 | Nifty 50 TRI | Diff | |
|---|---|---|---|---|
| 2026part | -4.62% | -12.85% | +8.23% | |
| 2025 | +19.46% | +11.97% | +7.49% | |
| 2024 | +17.08% | +10.16% | +6.92% | |
| 2023 | +24.98% | +21.69% | +3.29% | |
| 2022 | +17.61% | +5.68% | +11.93% | |
| 2021 | +35.54% | +25.49% | +10.05% | |
| 2020 | +10.66% | +16.57% | -5.91% | |
| 2019 | +8.50% | +13.43% | -4.93% | |
| 2018 | -1.11% | +4.40% | -5.51% | |
| 2017 | +29.37% | +30.12% | -0.75% |
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; those years show no benchmark comparison.
Taxation
Taxed as equityThis is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.
Flat, on the whole gain
On gains above ₹1.25 L per financial year
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- Equity68.70%
- Debt12.93%
- Other10.07%
- Cash & Equivalents7.16%
- Real Estate / REITs1.15%
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
SNSankaran NarenManaging since 01 Feb 2012
IIM Kolkata
Mr. Sankaran Naren is the Executive Director and Chief Investment Officer of our Company. He holds a bachelor’s degree in technology in mechanical engineering from the Indian Institute of Technology, Madras, and a post graduate diploma in management from the Indian Institute of Management, Calcutta. He has more than 25 years of experience in the financial services industry including, including, inter alia, investment banking, fund management, equity research, and stock broking operations. He is presently a member of committee on equity matters at AMFI. He has previously been associated with Refco - Sify Securities India Private Limited, HDFC Securities Limited, The Hongkong and Shanghai Banking Corporation Limited and Yoha Securities Limited He received the “CIO of the Year” award in the subcategory for India at the Asia Asset Management 2023 Best of the Best Awards.
- ICICI PRUDENTIAL ENERGY OPPORTUNITIES FUND
- ICICI Prudential Global Advantage Fund (FOF)
- ICICI Prudential India Opportunities Fund
- ICICI Prudential Long Term Wealth Enhancement Fund.
- ICICI Prudential Passive Multi-Asset Fund of Funds
- ICICI Prudential Value Fund (erstwhile Value Discovery Fund)
- ICICI Prudential Balanced Advantage Fund - Direct Plan - Growth
- ICICI Prudential Bharat Consumption Fund - Direct Plan - Growth
- ICICI Prudential Exports & Services Fund - Direct Plan - Growth
- ICICI Prudential Multi-Asset Fund- Institutional Growth Option
- ICICI Prudential Rural Opportunities Fund - Direct Plan - Growth
MBManish BanthiaManaging since 22 Jan 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.
- ICICI Prudential 10 year Constant Maturity Gilt Fund
- ICICI Prudential Banking and PSU Debt Fund
- ICICI Prudential Business Cycle Fund
- ICICI Prudential Corporate Bond Fund
- ICICI Prudential Credit Risk Fund
- ICICI Prudential Gilt Fund
- ICICI Prudential Life Cycle Fund 2031
- ICICI Prudential Life Cycle Fund 2036
- ICICI Prudential Life Cycle Fund 2041
- ICICI Prudential Money Market Fund
- ICICI Prudential Money Market Fund
- ICICI Prudential Passive Multi-Asset Fund of Funds
- ICICI Prudential Short Term Fund - Div. Option
- ICICI Prudential Silver ETF FOF
- ICICI Prudential All Seasons Bond Fund Retail - Cumulative
- ICICI Prudential Balanced Advantage Fund - Direct Plan - Growth
- ICICI Prudential Balanced Hybrid Fund - Direct Plan - Growth
- ICICI Prudential Bond Fund- Institutional Growth
- ICICI Prudential Constant Maturity Gilt Fund - Direct Plan - Monthly IDCW
- ICICI Prudential Equity Savings Fund - Direct Plan - Cumulative
- ICICI Prudential Long Term Bond Fund-Institutional Option-Growth
- ICICI Prudential Medium Term Bond Fund - Half Yearly IDCW
- ICICI Prudential Multi-Asset Fund- Institutional Growth Option
- ICICI Prudential Savings Fund Retail Growth
- ICICI Prudential Ultra Short term Fund - Direct Plan - Growth
GCGaurav ChikaneManaging since 02 Aug 2021
Senior Manager – Dealing
Over 10 years
B.E. (IT), MBA (Finance) Since this is a new scheme, of the fund manager for this Scheme is not available.
appointed as the in the Department Company July 1, is currently a ICICI Prudential Gold ETF Exchange Traded Inditrade Business Limited – Limited – Accenture Services – IT
SDSharmila D'silvaStart date not disclosed
Fund Manager – MF Equity
Over 8 years
CA and Bachelor of Commerce in Accounting and Finance (BAF)
Sharmila D’silva is associated with ICICI in Prudential Asset Management Company Limited from September 2016. She is involved in economics research, strategy research and business cycle research.
- ICICI Prudential Banking & Financial Services Fund
- ICICI Prudential Bharat Consumption Fund
- ICICI Prudential Business Cycle Fund
- ICICI Prudential Commodities Fund
- ICICI Prudential Equity Savings Fund
- ICICI Prudential Exports & Services Fund
- ICICI Prudential Flexi Cap fund
- ICICI Prudential FMCG Fund
- ICICI Prudential Global Advantage Fund (FOF)
- ICICI Prudential Global Stable Equity Fund (FOF)
- ICICI PRUDENTIAL HOUSING OPPORTUNITIES FUND
- ICICI Prudential India Opportunities Fund
- ICICI Prudential Infrastructure Fund
- ICICI Prudential Innovation Fund
- ICICI Prudential Large & Mid Cap Fund
- ICICI Prudential Large Cap Fund (erstwhile Bluechip Fund)
- ICICI Prudential Manufacturing Fund
- ICICI Prudential MNC Fund
- ICICI Prudential Multi Cap Fund
- ICICI Prudential Quality Fund
- ICICI Prudential QUANT FUND
- ICICI Prudential Rural Opportunities Fund
- ICICI Prudential Small Cap Fund
- ICICI Prudential Strategic Metal and Energy Equity Fund of Fund
- ICICI Prudential Technology Fund
- ICICI Prudential US Bluechip Equity Fund
- ICICI Prudential Value Fund (erstwhile Value Discovery Fund)
- ICICI Prudential Active Momentum Fund - Direct Plan - Growth
- ICICI PRUDENTIAL ENERGY OPPORTUNITIES FUND - Direct Plan - Growth
- ICICI Prudential Equity - Arbitrage Fund-Institutional Growth Option
- ICICI Prudential Equity Minimum Variance Fund - Direct Plan - Growth
- ICICI Prudential Multi-Asset Fund- Institutional Growth Option
- ICICI Prudential NASDAQ 100 Index Fund - Direct Plan - Growth
- ICICI Prudential Passive Multi-Asset Fund of Funds - Direct Plan - Growth
ABAntariksha BanerjeeManaging since 15 Jun 2026
Fund Manager – MF Equity
Over 8 years
PGDM (MBA) – S. P. Jain Institute of Management & Research, Mumbai
He joined ICICI Prudential Asset Management Company Limited in May 2017. He has been part of the Research team of the AMC.
AKAkhil KakkarManaging since 22 Jan 2024
Senior Fund Manager – Fixed Income
PGDM (Finance) and B. Tech (Electrical)
Mr. Akhil joined ICICI Prudential Asset Management Company Limited in September 2015. He has around 18 years of experience. Past Experience: ~ Kotak Mahindra Bank Vice President, Debt Capital Markets - February 2010 to September 2015. ~ SBI Capital Markets Associate, Project Advisory ICICI Prudential Credit Risk Fund & Structured Finance - May 2009 to February 2010. ~Goldman Sachs Services Pvt Ltd - Analyst Developer - June 2005 to June 2007.
- ICICI Prudential Balanced Hybrid Fund
- ICICI Prudential Credit Risk Fund
- ICICI Prudential Medium Term Fund
- ICICI Prudential Balanced Advantage Fund - Direct Plan - Growth
- ICICI Prudential Medium Term Bond Fund - Half Yearly IDCW
- ICICI Prudential Multi-Asset Fund- Institutional Growth Option
- ICICI Prudential Savings Fund Retail Growth
MJMasoomi JhurmarvalaManaging since 04 Nov 2024
Fund Manager – MF Equity
Over 8 years
Chartered Accountant and B.Com
Ms. Masoomi had joined ICICI Prudential Asset Management Company Limited in October 2016 and since then she worked as a Research Analyst in the Investment department of the AMC. During November 2024, she was appointed as fund manager for certain schemes.
- ICICI Prudential Global Advantage Fund (FOF)
- ICICI Prudential Global Stable Equity Fund (FOF)
- ICICI Prudential Quality Fund
- ICICI Prudential Strategic Metal and Energy Equity Fund of Fund
- ICICI Prudential Value Fund (erstwhile Value Discovery Fund)
- ICICI Prudential Multi-Asset Fund- Institutional Growth Option
- ICICI Prudential Passive Multi-Asset Fund of Funds - Direct Plan - Growth
Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. 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.
Explore from here
ICICI Prudential in the news
Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.
ICICI Prudential Mutual Fund has declared income distribution under its few schemes
Value Research · 6h ago
ICICI Prudential Multi Cap Fund Direct Plan Growth
ClearTax · 8h ago
ICICI Prudential MF crosses 5% stake in GSPL Transmission via demerger
scanx.trade · 12h ago
MF IDCW alert: ICICI Prudential, Invesco announce payouts across 5 schemes; check dates and amounts
Upstox · 16h ago
Senior Citizen Savings Scheme (SCSS) interest rate for October-December 2026
Upstox · 1d ago
ICICI Prudential Retirement Fund – Hybrid Aggressive Plan: Retirement Savings With An Equity Edge
BusinessLine · 2d ago
ICICI Prudential Ultra Short to Short Term Fund Direct Plan Growth
ClearTax · 2d ago
NFO Insight : ICICI Prudential Contra Fund opens for subscription. Is contra investing suited for current
The Economic Times · 3d ago
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 Multi Asset Allocation funds
Multi asset funds spread money across at least three asset classes — typically equity, debt and gold — each at 10% or more. The mix aims to reduce the impact of any one asset having a bad year.
From the blog
Multi-asset funds returned 7.9% while the Nifty fell
01 Oct 2026
The median multi-asset allocation fund returned 7.85% in the year to 30 September 2026, as the Nifty 50 fell 8.09%. The funds were 15 points apart.
Largest mutual fund schemes by AUM, April–June 2026
11 Aug 2026
SBI Nifty 50 ETF averaged ₹2,06,968 crore in April–June 2026, still the largest scheme. SBI Liquid jumped from 15th to 9th. The top 15 and who moved.
Largest mutual fund schemes by AUM, January–March 2026
12 May 2026
SBI Nifty 50 ETF averaged ₹2,10,783 crore in January–March 2026, the largest scheme in India. The top 15, and the 100 schemes that hold half the money.
Frequently asked questions
What is the NAV of ICICI Prudential Multi Asset Allocation Fund?
As of 01 Oct 2026, the NAV of ICICI Prudential Multi Asset Allocation Fund is ₹863.92 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has ICICI Prudential Multi Asset Allocation Fund delivered?
ICICI Prudential Multi Asset Allocation Fund has returned +0.51% over 1 year, +13.14% per year over 3 years, +14.66% per year over 5 years and +15.62% 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 Multi Asset Allocation Fund?
ICICI Prudential Multi Asset Allocation Fund charges an expense ratio of 0.85% 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 Multi Asset Allocation Fund?
ICICI Prudential Multi Asset Allocation Fund's largest holdings are ICICI Prudential Gold ETF (10.1%), HDFC Bank Ltd. (5.6%), Life Insurance Corporation of India (3.8%), ICICI Bank Ltd. (3.8%) and Reliance Industries Ltd. (3.3%). Holdings are disclosed monthly and change over time.
How risky is ICICI Prudential Multi Asset Allocation Fund?
ICICI Prudential Multi Asset Allocation Fund is rated high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 8.3% and its worst peak-to-trough fall in our sample was -30.6%. 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 0.80 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. ICICI Prudential Multi Asset Allocation Fund's 0.80 means it has rewarded its volatility with excess return. Higher is better.
Who manages ICICI Prudential Multi Asset Allocation Fund?
ICICI Prudential Multi Asset Allocation Fund is managed by Sankaran Naren, Manish Banthia, Gaurav Chikane, Sharmila D'silva, Antariksha Banerjee, Akhil Kakkar and Masoomi Jhurmarvala at ICICI Prudential.
How is ICICI Prudential Multi Asset Allocation Fund taxed?
ICICI Prudential Multi Asset Allocation Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.