ICICI Prudential Balanced Advantage Fund is an open-ended dynamic asset allocation fund. The scheme, which was launched on December 30, 2006, uses an in-house asset allocation model for maintaining an effective equity investment level, endeavoured to be more than 65%. The actual equity level could, however, go below 65% after factoring in the derivative exposure.
About ICICI Prudential: ICICI Prudential Asset Management Company is one of the top AMCs in India, focused on bridging the gap between savings and investment. It is a joint venture between ICICI Bank and Prudential Plc. Over the years, the company has forged a position of pre-eminence in the mutual fund industry.
(Note - All the information contained in this page has been sourced from the official website of ICICI Prudential Mutual Fund.)
The features of ICICI Prudential Balanced Advantage Fund are as under:
| Type of Scheme | An open-ended dynamic asset allocation fund |
|---|---|
| Plans | ICICI Prudential Balanced Advantage Fund and ICICI Prudential Balanced Advantage Fund - Direct; Options: Growth & Dividend |
| Minimum Application Amount | Rs. 500 (plus in multiples of Re.1) |
| Minimum Additional Application Amount | Rs. 100 (plus in multiples of Re.1) |
| Minimum Redemption Amount | Rs. 500/- or all units where amount is below Rs. 500/- |
| Benchmark Index | CRISIL Hybrid 50 + 50 - Moderate Index |
Returns of ICICI Prudential Balanced Advantage Fund - Growth Option as on December 31, 2019 - (IPBAF)
| Particulars | 1 Year CAGR (%) | 1 Year Current Value of Investment of Rs. 10,000 | 3 Years CAGR (%) | 3 Years Current Value of Investment of Rs. 10,000 | 5 Years CAGR (%) | 5 Years Current Value of Investment of Rs. 10,000 | Since Inception | Since Inception - Current Value of Investment of Rs. 10,000 |
|---|---|---|---|---|---|---|---|---|
| Scheme | 10.79 | 11,079.12 | 10.53 | 13,507.09 | 9.11 | 15,471.16 | 10.83 | 38,090.00 |
| CRISIL Hybrid 50+50 - Moderate Index (Benchmark) | 10.73 | 11,073.16 | 10.94 | 13,657.90 | 9.30 | 15,605.10 | 9.72 | 33,422.30 |
| Nifty 50 TRI Index 2 (Additional Benchmark) | 13.48 | 11,347.65 | 15.63 | 15,467.78 | 9.38 | 15,661.02 | 10.32 | 35,887.86 |
| NAV (Rs.) Per Unit | 34.38 | 34.38 | 28.20 | 28.20 | 24.62 | 24.62 | 10 | 10 |
| HDFC Bank Ltd. | 4.15% |
| HDFC Ltd. | 3.74% |
| ICICI Bank Ltd. | 3.68% |
| Axis Bank Ltd. | 3.35% |
| ICICI Bank Ltd. | 2.77% |
Users can invest in the schemes of ICICI Prudential Mutual Fund through the company's website. A new investor would first have to register with the company by providing the folio number. Those who have already registered with the fund house will need to login using their username and password. There is also the option of visiting one of the branch offices of the company and placing a request to purchase the scheme. The nearest branch office can be located through the website of ICICI Prudential Mutual Fund.
Individuals who wish to invest in the schemes of ICICI Prudential Mutual Fund would have to provide a duly-completed application form, along with documents that serve as proof of identity and proof of address.
Some of the documents that can serve as identity proof include - Aadhaar, passport, PAN card, voter ID, etc. The documents that be used as proof of address include ration card, passport, driving license, insurance copy, etc.
