Last Updated on December 29, 2021 at 5:37 pm
We review the SIP performance of ICICI Bluechip Fund for various durations comparing it with NIfty 50 TRI and Nifty 100 TRI. Older mutual fund investors would appreciate how ICICI Bluechip Fun quickly became popular as the world emerged from the 2008 financial crisis. How things have changed!
Launched in May 2008 right in the middle of the 2008 crash, the fund impressed with an excellent outperformance for the first few years that diminished significantly before Feb 2018 and non-existent after that. In Dec 2018 we had reported that the fund was among only five Large Cap funds have comfortably beat Nifty 100.
The fund’s initial scheme mandate and subsequent changes and possibly AUM growth played a role in its performance. Launched as ICICI Prudential Focused Equity Fund – an open-ended diversified equity scheme that in invest in 20 or less large cap stocks.
Join over 32,000 readers and get free money management solutions delivered to your inbox! Subscribe to get posts via email! 🔥Enjoy massive discounts on our robo-advisory tool & courses! 🔥
In early 2010 it was renamed as ICICI Prudential Focused Bluechip Equity Fund. As on Aug 31st 2010 its AUM was only 1451 Crores! By Jan 2013, the AUM had more than tripled. By April 2017 the AUM had tripled again to 13,000 plus crores. Since then the inflow has reduced a bit perhaps due to other choices for new investors (midcap and smallcap funds). The current AUM is still an impressive 21,765 Crores – the highest for an active large cap fund.
When it started out, it had a 20 stock mandate with a clause that the number of stocks could increase when the AUM grew higher than 1000 crore. The fund kept the portfolio down to 20 stocks until Dec. 2011 at about 3532 Cr AUM levels.
The number of stocks kept moving up. By Dec 2012, it was “25-30 stocks” increasing to 37 in Dec 2013 including 0.38% exposure to ICICI Prudential CNX 100 ETF! The current number of stocks is a stately 64! Also the word “focused” was dropped from its name only much later in early 2018 to comply with SEBI norms. The asset allocation history is shown below.
Older investors who started with a focused fund with less than a third of the current portfolio strength would have visibly felt the drop in performance. Trailing returns (lump sum) are shown below. Returns lower than the benchmark are indicated in red.
| Duration | ICICI Pru Bluechip Fund(G) | ICICI Pru Bluechip Fund(G)-Direct Plan | NIFTY 100 – TRI |
| 1 Year | -11.3 | -10.7 | -10.3 |
| 2 Years | -1.8 | -1.1 | -1.0 |
| 3 Years | 2.4 | 3.3 | 3.7 |
| 4 Years | 7.8 | 8.9 | 8.9 |
| 5 Years | 6.3 | 7.5 | 6.7 |
| 6 Years | 9.1 | 10.5 | 8.9 |
| 7 Years | 16.8 | 18.8 | 15.3 |
| 8 Years | 17.7 | 16.6 | |
| 9 Years | 14.8 | 13.1 | |
| 10 Years | 16.4 | 12.9 | |
| 12 Years | 25.4 | 16.8 | |
| 11 Years | 22.8 | 16.9 |
SIP Performance of ICICI Bluechip Fund
The regular plan has underperformed for more periods than the direct plan because of the commissions. Yet another piece of proof to pull out from at least regular plans!
| Duration | ICICI Pru Bluechip Fund(G)-Direct Plan | ICICI Pru Bluechip Fund(G) | NIFTY 100 – TRI | NIFTY 50 – TRI |
| 1Y | -6.9 | -7.5 | -6.4 | -7.4 |
| 2Y | -4.3 | -5.0 | -4.0 | -4.3 |
| 3Y | -1.9 | -2.7 | -1.3 | -1.0 |
| 4Y | 1.6 | 0.8 | 2.2 | 2.5 |
| 5Y | 4.2 | 3.3 | 4.4 | 4.5 |
| 6Y | 5.0 | 4.1 | 4.9 | 4.8 |
| 7Y | 7.2 | 6.2 | 6.6 | 6.3 |
| 8Y | 7.6 | 7.7 | 7.3 | |
| 9Y | 8.5 | 8.4 | 8.0 | |
| 10Y | 8.8 | 8.4 | 8.0 | |
| 11Y | 9.3 | 8.6 | 8.1 | |
| 12Y | 10.7 | 9.6 | 9.0 |
Time to exit? Sadly, those are not good looking numbers. Lump sum or SIP, the underperformance is similar. Yet another reason why you should switch to a simple Nifty index fund especially if your exposure is not too high.
🔥Enjoy massive discounts on our courses, robo-advisory tool and exclusive investor circle! 🔥& join our community of 5000+ users!
Use our Robo-advisory Tool for a start-to-finish financial plan! ⇐ More than 1,000 investors and advisors use this!
New Tool! => Track your mutual funds and stock investments with this Google Sheet!
We also publish monthly equity mutual funds, debt and hybrid mutual funds, index funds and ETF screeners and momentum, low-volatility stock screeners.
- Do you have a comment about the above article? Reach out to us on Twitter: @freefincal or @pattufreefincal
- Have a question? Subscribe to our newsletter using the form below.
- Hit 'reply' to any email from us! We do not offer personalized investment advice. We can write a detailed article without mentioning your name if you have a generic question.
Join over 32,000 readers and get free money management solutions delivered to your inbox! Subscribe to get posts via email!
About The Author
Dr M. Pattabiraman(PhD) is the founder, managing editor and primary author of freefincal. He is an associate professor at the Indian Institute of Technology, Madras. He has over ten years of experience publishing news analysis, research and financial product development. Connect with him via Twitter(X), Linkedin, or YouTube. Pattabiraman has co-authored three print books: (1) You can be rich too with goal-based investing (CNBC TV18) for DIY investors. (2) Gamechanger for young earners. (3) Chinchu Gets a Superpower! for kids. He has also written seven other free e-books on various money management topics. He is a patron and co-founder of “Fee-only India,” an organisation promoting unbiased, commission-free investment advice.Our flagship course! Learn to manage your portfolio like a pro to achieve your goals regardless of market conditions! ⇐ More than 3,000 investors and advisors are part of our exclusive community! Get clarity on how to plan for your goals and achieve the necessary corpus no matter the market condition is!! Watch the first lecture for free! One-time payment! No recurring fees! Life-long access to videos! Reduce fear, uncertainty and doubt while investing! Learn how to plan for your goals before and after retirement with confidence.
Our new course! Increase your income by getting people to pay for your skills! ⇐ More than 700 salaried employees, entrepreneurs and financial advisors are part of our exclusive community! Learn how to get people to pay for your skills! Whether you are a professional or small business owner who wants more clients via online visibility or a salaried person wanting a side income or passive income, we will show you how to achieve this by showcasing your skills and building a community that trusts and pays you! (watch 1st lecture for free). One-time payment! No recurring fees! Life-long access to videos!
Our new book for kids: “Chinchu Gets a Superpower!” is now available!
Must-read book even for adults! This is something that every parent should teach their kids right from their young age. The importance of money management and decision making based on their wants and needs. Very nicely written in simple terms. - Arun.Buy the book: Chinchu gets a superpower for your child!
How to profit from content writing: Our new ebook is for those interested in getting side income via content writing. It is available at a 50% discount for Rs. 500 only!
Do you want to check if the market is overvalued or undervalued? Use our market valuation tool (it will work with any index!), or get the Tactical Buy/Sell timing tool!
We publish monthly mutual fund screeners and momentum, low-volatility stock screeners.
About freefincal & its content policy. Freefincal is a News Media Organization dedicated to providing original analysis, reports, reviews and insights on mutual funds, stocks, investing, retirement and personal finance developments. We do so without conflict of interest and bias. Follow us on Google News. Freefincal serves more than three million readers a year (5 million page views) with articles based only on factual information and detailed analysis by its authors. All statements made will be verified with credible and knowledgeable sources before publication. Freefincal does not publish paid articles, promotions, PR, satire or opinions without data. All opinions will be inferences backed by verifiable, reproducible evidence/data. Contact information: letters {at} freefincal {dot} com (sponsored posts or paid collaborations will not be entertained)
Connect with us on social media
- Twitter @freefincal
- Subscribe to our YouTube Videos
- Posts feed via Feedburner.
Our publications
You Can Be Rich Too with Goal-Based Investing
Published by CNBC TV18, this book is meant to help you ask the right questions and seek the correct answers, and since it comes with nine online calculators, you can also create custom solutions for your lifestyle! Get it now.Gamechanger: Forget Startups, Join Corporate & Still Live the Rich Life You Want
This book is meant for young earners to get their basics right from day one! It will also help you travel to exotic places at a low cost! Get it or gift it to a young earner.Your Ultimate Guide to Travel
This is an in-depth dive into vacation planning, finding cheap flights, budget accommodation, what to do when travelling, and how travelling slowly is better financially and psychologically, with links to the web pages and hand-holding at every step. Get the pdf for Rs 300 (instant download)