Comparative analysis of ICICI and SBI mutual fund

Introduction:

A mutual fund is a type of financial intermediary that pools the funds of investors who seek
the same general investment objective and invests there in a number of different types of
financial claims (e.g. equity shares, bonds, money market instruments). These pooled funds
provide thousands of investors with proportional ownership of diversified portfolios managed
by professional investment managers.

There are many reasons why people prefer investing in mutual funds rather
than buying shares from the shares market as it requires a lot of time to understand the future
prospects of the company and research would be time consuming if the investor has
important work to do. Therefore they invest in a mutual fund scheme which in turn takes the
responsibility of investing in stocks and shares after due research and analysis. The investor
need not bother with researching hundreds of stocks. It leaves it to the mutual fund and its
professional fund management team.

Mutual Funds are classified based on their asset class and their structure.
Asset class include equity funds, debt funds, money market funds, hybrid funds, sector funds,
index funds, tax saving funds, and fund of funds. Mutual funds based on structure include
open ended and close ended funds. An investor chooses it type depending on the goals he
want to achieve which are set with the help of mutual fund manager or AMC Company who
pool the money from different investors and use their valuable knowledge and research and
invest the money accordingly.

SBI Mutual Fund offers an entire range of investment solutions covering investors across risk
profiles. It provides mutual fund across categories including equity, debt, tax-saving, hybrid
and fund-of-funds. While ICIC Mutual Fund deals in equity, debt, hybrid, solution oriented
and Exchange Traded Funds
Literature Review
1.Comparative Analysis of Sharpe and Sortino Ratio with reference to Top Ten
Banking and Finance Sector Mutual Funds
October 2018
Pooja Srivastava
In this research paper comparative analysis of Top Ten Banking and Finance Sector open
ended mutual funds is done using Sharpe and Sortino Ratio and the best performer is found
out INVESCO INDIA BANK FUND-DP has higher Sharpe ratio i.e.3.05 and lower standard
deviation (1.18%) and also higher Sortino ratio (4.95). with this we can infer that due to
higher Sortino ratio of 4.95 fund has maximum downside deviation because of this, in spite
having higher Sharpe ratio the fund is having lowest percentage of five year return i.e.
7.75%.ICICI PRU BANKING ANF FIN SER-RP(G) FUND having the height five year
return which 20.99% in spite of having lower Sharpe ratio of 0.71% and high standard
deviation of 18.79%. fund is showing the height five year return because of positive standard
deviation because due to low Sortino ratio which is 1.18 which indicate lower downside
deviation. Hence with the help of above analysis we can conclude that Sortino ratio give the
better understanding for analysing the fund performance.

http://researchersworld.com/ijms/vol5/issue4_2/Paper_10.pdf

2.CHARACTERISTICS AND PERFORMANCE EVALUATION OF SELECTED

MUTUAL FUNDS IN INDIA
Sharad Panwar
October 2018
In this reference paper differences in characteristics of public-sector sponsored &
private-sector sponsored mutual funds is identifies as well as their performance is compared
using traditional tools
It was found out that public-sector sponsored , private-sector Indian sponsored and
private-sector foreign sponsored mutual funds do not differ statistically in terms of portfolio
characteristics such as net assets, common stock%, market capitalization, holdings, Top Ten
%. However, there is a statistical difference between three classes of public-sector sponsored,
private-sector Indian sponsored and private-sector foreign sponsored mutual funds in terms of
average standard deviation, average variance and average coefficient of variation. Portfolio
risk characteristics measured through private-sector Indian sponsored mutual funds seems to
have outperformed both Public- sector sponsored and Private-sector foreign sponsored
mutual funds
https://poseidon01.ssrn.com/delivery.php?ID=9151141161001051140920000290690290660570780
530460120821121140710101240910070241220861210570010340180190961220670720181250910
230540900780580650971011140220660670330590300090970931010210740950081220961270691
14003110019010108112126090126073121099097&EXT=pdf

3.A Study on Comparative Analysis of ICICI Bank and HDFC Bank Mutual Fund Schemes ‘MONEY
ATTRACTS MONEY’

Mrs. P. Kalpana
April 2018
In this refrence paper study comparative analysis is done on ICICI Bank and HDFC Bank
Mutual Fund Schemes over 100 days. It was found out that ICICI mutual funds are not
performing well as the asset management is not done in a perfect manner due to this it is
getting the huge losses. ICICI mutual funds is into negative whereas the HDFC Mutual funds
are performing well in the market with respect to debt funds. Hence HDFC Mutual funds
have performed better than ICICI mutual funds

http://www.ijetsr.com/images/short_pdf/1525163932_1024-1038-site129_ijetsr.pdf

4. Analysis of Equity-Based Mutual Funds of HDFC and ICICI

Neha Kuhar
December 2014
In this reference paper it was analysed which mutual fund between HDFC and ICICI gives
better returns. Sample study was conducted on 100 candidates who invets in mutual funds of
which 65 have invested in mutual funds with HDFC & 35 have invested with ICICI.
According to collected data 68 investors thinks that HDFC provides better returns whereas 32
think that ICICI provides better returns. Investors have more faith in HDFC’s mutual fund.
Many investors who have invested in mutual funds have invested with HDFC and they think
that it provides better returns than ICICI. There is also an effect of age on mutual fund
investors like old people & widows want regular returns than capital appreciation

http://www.ijritcc.org/download/1420170899.pdf

5. PERFORMANCE OF SELECTED BANK MUTUAL FUND SCHEMES IMPACT IN INVESTORS’ DECISION

MAKING

R. Kumar Gandhi
March 2016
This reference paper is based on study of mutual fund scheme offered in the selected banks
like State Bank of India , Canara Bank, ICICI Bank , HDFC Bank with different parameters
such as Standard Deviation, Beta, Sharpe Ratio, Treynor Ratio, Jenson alpha and NAV
Calculation mutual funds. It was found out that Canara Bank sponsored Canara Robeco
Equity Tax Saver has a higher Treynor’s ratio (0.153) and higher Sharpe’s ratio (0.033) and
expected to perform well among the other tax saving schemes. HDFC offered HDFC Tax
Saver scheme has a lower Variance (7.888) and Standard deviation (2.809) and is expected to
be less risky among the other tax saving schemes.
http://www.garph.co.uk/IJARMSS/Mar2016/22.pdf

Industry Sector Overview

The mutual fund industry in India started in 1963 with the formation of Unit
Trust of India, at the initiative of the Government of India and Reserve Bank of
India. The Mutual Fund (MF) industry in India has seen rapid growth in Assets
Under Management (AUM). Total AUM of the industry stood at Rs 24.03
trillion (US$ 342.01 billion) between April-November 2018. At the same time
the number of Mutual fund (MF) equity portfolios reached a high of 74.6
million as of June 2018.
Average Assets Under Management (AAUM) of Indian Mutual
Fund Industry for the month of January 2019 stood at ₹ 24,52,085 crore. Assets
Under Management (AUM) as on January 31, 2019 stood at ₹23,37,118 crore.
The AUM of the Indian MF Industry has grown from ₹ 4.78 trillion as on 31st
January, 2009 to ₹23.37 trillion as on 31st January, 2019, about 5 fold increase
in a span of 10 years. The MF Industry’s AUM has grown from ₹9.03 trillion as
on 31st January, 2014 to ₹23.37 trillion as on 31st January, 2019, more than 2 ½
fold increase in a span of 5 years
The Industry’s AUM had crossed the milestone of ₹10 Trillion
(₹10 Lakh Crore) for the first time in May 2014 and in a short span of about
three years, the AUM size had increased more than two folds and crossed ₹ 20
trillion (₹20 Lakh Crore) for the first time in August 2017. The Industry AUM
stood at ₹23.37 Trillion (₹ 23.37 Lakh Crore) as on 31st January, 2019. The
total number of accounts (or folios as per mutual fund parlance) as on January
31, 2019 stood at 8.10 crore (81 million), while the number of folios under
Equity, ELSS and Balanced schemes, wherein the maximum investment is from
retail segment stood at 6.82 crore (68.2 million). This is 56th consecutive month
witnessing rise in the no. of folios.Mutual fund contribution to GDP is 11
percent.
Company Profile :
SBI MUTUAL FUND
SBI Mutual Fund is India’s largest bank sponsored mutual fund and has an enviable track
record in judicious investments and consistent wealth creation. The fund traces its lineage to
SBI - India’s largest banking enterprise. The institution has grown immensely since its
inception and today it is India's largest bank, patronised by over 80% of the top corporate
houses of the country.
SBI Mutual Fund is a joint venture between the State Bank of India and Société Générale
Asset Management, one of the world’s leading fund management companies that manages
over US$ 500 Billion worldwide. In twenty years of operation, the fund has launched 38
schemes and successfully redeemed fifteen of them. In the process it has rewarded it's
investors handsomely with consistent returns.
A total of over 5.8 million investors have reposed their faith in the wealth generation
expertise of the Mutual Fund. Schemes of the Mutual fund have consistently outperformed
benchmark indices and have emerged as the preferred investment for millions of investors
and HNI’s.
Today, the fund manages over Rs. 42,100 crores of assets and has a diverse profile of
investors actively parking their investments across 38 active schemes. The fund serves this
vast family of investors by reaching out to them through network of over 130 points of
acceptance, 29 investor service centers, 59 investor service desks and 6 Investor Service
Points. SBI Mutual is the first bank-sponsored fund to launch an offshore fund – Resurgent
India Opportunities Fund. Growth through innovation and stable investment policies is the
SBI MF credo.

ICICI mutual fund

ICICI Prudential Asset Management Company Ltd. is a leading asset management company
(AMC) in the country focused on bridging the gap between savings & investments and
creating long term wealth for investors through a range of simple and relevant investment
solutions.
The AMC is a joint venture between ICICI Bank, a well-known and trusted name in financial
services in India and Prudential Plc, one of UK’s largest players in the financial services
sectors. Throughout these years of the joint venture, the company has forged a position of
pre-eminence in the Indian Mutual Fund industry.
The AMC manages significant Assets under Management (AUM) in the mutual fund
segment. The AMC also caters to Portfolio Management Services for investors, spread across
the country, along with International Advisory Mandates for clients across international
markets in asset classes like Debt, Equity and Real Estate.
SBI Blue Chip Fund Vs ICICI Prudential Bluechip Fund Though both SBI Blue Chip Fund
and ICICI Prudential Bluechip Fund belong to the same category, yet; they differ on account
of various parameters

Objectives :
● To compare the performance of SBI Blue-chip mutual fund and ICICI
Prudential Blue-chip mutual fund based on various parameters
● To analyse which fund provides better returns

Scope of the study :

The scope of study is based on Blue chip category of mutual funds offered by
both the companies. Both come under largecap schemes and there is hardly
much difference between the two. Historical data is taken over past 5 years.

Basics of Mutual Funds

The definition of Net Asset Value(NAV) is assets minus liabilities of the fund, per unit of the
fund. Essentially this definition tries to calculate (while it may seem technical) the price of
the fund. Like investors who monitor the share price to monitor their gain or loss, investors in
Mutual funds can do the same by estimating their profit or loss looking at its value. NAV is
calculated at the end of every market day, after taking into account the closing market prices
of the securities in its portfolio. When selecting a mutual fund for investments, remember that
daily changes in NAV don't matter. It is best to look at the annualised / CAGR return of a
fund over different time frames to estimate the performance of the fund.
Assets – Debits / Number of outstanding units = Net asset value (NAV)

Types of Mutual Funds :

A. Based on Fund Scheme:

1. ​Open ended mutual funds​-

● An open end mutual fund is the type of fund that does not have any restrictions on
the amount of shares a fund can issue.
● Such schemes purchase and offer units at a daily basis and therefore, allow the
investor to enter and exit as per his preference.
● The units are sold at the Net Asset announced and can be bought or sold even after
the New Fund Offer (NFO) period.
● These schemes are not listed on stock exchanges

2. ​Close ended mutual funds​ :

● Close ended mutual fund is the type of fund that sells a specific number of units.
● The Net Asset Value (NAV) of such schemes is fixed.
● Units cannot be bought or sold after the New Fund Offer (NFO) period. This
implies that new investors cannot enter, while the existing ones cannot exit till the
time period of the scheme gets exhausted.
● These schemes are listed on stock exchanges to maintain liquidity.

The advantages of open-ended funds over close-ended are as follows:

● Investors can exit any time they want. The issuing company directly takes the
responsibility of providing an entry and an exit. This provides ready liquidity to
the investors and avoids reliance on transfer deeds, signature verifications and bad
deliveries.
● Investors can entry any time they want. Thus, an open-ended fund allows one to
enter the fund at any time and even to invest at regular intervals.
B. Based on Assets invested in :

1. Equity Funds :
● These are funds that invest only in stocks. As a result, they are usually
considered high risk, high return funds.
● Most growth funds – the ones that promise high returns over a long-term – are
equity funds.
● These funds have less tax liability in the long-run as compared to debt funds.
● Equity funds can be further classified into types based on the investment
objective into index funds, sector funds, tax-saving schemes and so on

2. Debt Funds :

● These funds invest in debt-market instruments like bonds, government securities,

debentures and so on.
● These are called debt instruments because they are a kind of borrowing
mechanism for companies, banks as well as the government.
● Since the interest payments are fixed as well as the return of the principle
amount, debt instruments are considered low-risk, low-return financial assets.
● They are usually preferred for the regular interest payments.
● Debt funds are further classified on the basis of the maturity period of the
underlying assets – long-term and short-term.
● Some debt funds also invest in just a single type of debt instrument. Gilt funds
are an example of such a fund.

3. HYBRID FUNDS:
● These are funds which invest in both equities as well as debt instruments. For
this reason, they are less risky than equity funds, but more than debt funds.
● Similarly,they are likely to give you higher returns than debt funds, but lower
than equity funds. As a result, they are often called 'balanced funds'.

C. MUTUAL FUNDS BASED ON INVESTMENT OBJECTIVE:

1. GROWTH FUNDS:

● These are schemes that promise capital returns in the long-term.

● They usually invest in equities. As a result, growth funds are usually high risk
schemes. This is because the values of assets are subject to lot of fluctuations.
● Growth funds usually pay lower dividends. They may also prefer to reinvest the
dividend money into increasing the assets under management.

2. FIXED-INCOME FUNDS:

● These are schemes that promise regular income for a period of time. For this reason,
fixed-income funds are usually a kind of debt fund.
 ● This makes fixed-income funds low-risk schemes, which are unlikely to give you a
large amount of profit in the long-run.
● They pay higher dividends than growth funds. As with debt funds, they may be
further classified on the basis of the specific assets invested in or on the basis of
maturity.
3. BALANCED FUNDS:
● These schemes try to strike a balance between risk and return. They do so by
investing in both equities and debt instruments. As a result, they are a kind of hybrid
fund.
● Their risk is lower than equity or growth funds, but higher than debt or fixed-income
funds.

C. SOME SPECIAL FUNDS:

● INDEX SCHEMES:
● Indices serve as a benchmark to measure the performance of the market as a whole.
Indices are also formed to monitor performance of companies in a specific sector.
● Every index is formed of stock participants. The value of the index has a direct
relation to the value of the stocks. However, you cannot invest in an index directly. It
is merely an arbitrary number. So, to earn as much returns as the index, investors
prefer to invest in an Index fund.
● The fund invests in the index stock participants in the same proportion as the index.

● REAL ESTATE FUNDS:

● These are not a sector-specific fund which invests in realty company shares. Instead,
these funds invest directly in real estate.
● This may be by buying property or funding real estate developers.
● They can also buy shares of housing finance companies or their securitized assets.
Risk depends on where the fund is investing the money.
● GILT FUNDS:
● These schemes primarily invest in government securities. Government debt is usually
credit-risk free. Hence, the investor usually does not have to worry about credit risk.
● INTERVAL SCHEMES:
● These schemes combine the features of open-ended and closed-ended schemes. They
may be traded on the stock exchange or may be open for sale or redemption during
pre-determined intervals at NAV based prices.

● SECTOR FUNDS:
● These are a kind of equity scheme restrict their investing to one or more pre-defined
sectors, e.g. technology sector.
 ● Since they depend upon the performance of select sectors only, these schemes are
inherently more risky than general schemes. They are best suited for informed
investors, who wish to bet on a single sector.
● TAX-SAVING SCHEMES:

Investors are now encouraged to invest in the equity markets through the ​Equity Linked
Savings Scheme (ELSS)​ by offering them a tax rebate. When you invest in such schemes,
your total taxable income falls. However, there is a limit of Rs 1 lakh for tax purposes. The
crutch is that the units purchased cannot be redeemed, sold or transferred for a period of three
years.
However, in comparison with other tax-saving financial instruments like Public Provident
Funds (PPF) and Employee Provident Funds (EPF), ELSS funds have the lowest lock-in
period. An example of ELSS scheme is the Kotak ELSS scheme.

● MONEY MARKET SCHEMES:

These schemes – a kind of debt fund – invest in short-term instruments such as commercial
paper (CP), certificates of deposit (CD), treasury bills (T-Bill) and overnight money (Call).
The schemes are the least volatile of all the types of schemes because of the short-term
maturities of the money-market instruments. These schemes have become popular with
institutional investors and high-net worth individuals having short-term surplus funds.

Expense Ratio :
Annual Fund Operating Expenses, mostly known as the expense ratio, is the percentage of
assets payable to the fund manager (i.e. AMC). The asset manager, with the help of a team
of analysts and other experts, allocate, manage (including the auditor & advisor fees) and
advertise the fund to maximize returns and manage risks.

Sharpe Ratio :

Sharpe Ratio measures how well the fund has performed vis-a vis the risk taken by it. It is
the excess return over risk-free return (usually return from treasury bills or government
securities) divided by the standard deviation. The higher the Sharpe Ratio, the better the
fund has performed in proportion to the risk taken by it. The Sharpe ratio is also known as
Reward-to-Variability ratio and it is named after William Forsyth Sharpe .A ratio higher
than ​2​ is rated as very good, and a ratio of ​3​ or higher is considered excellent. The basic
purpose of the Sharpe ratio is to allow an investor to analyze how much greater a return he
or she is obtaining in relation to the level of additional risk taken to generate that return
Computation:

SR = (TOTAL RETURN – RISK FREE RATE) / STANDARD DEVIATION OF FUND

Alpha Ratio :
Alpha measures the difference between a fund's actual returns and its expected performance,
given its level of risk (as measured by beta). A positive alpha figure indicates the fund has
performed better than its beta would predict. In contrast, a negative alpha indicates a fund has
underperformed, given the expectations established by the fund's beta.

Exit Load :
An exit load refers to the fee that the Asset Management Companies (AMC) charge the
investor at the time of exiting or redeeming a scheme. Sometimes it also refers to commission
to the fund house or pre-exit penalty, if the investor exits the fund before the lock-in period is
over. Not all funds levy an exit charge. The exit fee is usually a percentage of the Net Asset
Value (NAV) of the mutual fund held by investors. Once the AMC deducts the exit load from
the total Net Asset Value, the remaining amount gets credited to the investor’s account.

Parameters SBI Bluechip Mutual Fund ICICI Bluechip Mutual Fund

NAV ₹37.2805 ↓ ₹40.55 ↓

Net Assets (-0.08 %) ₹20,292 on 31 Jan ₹19,863 on 31 Jan 19

(Cr) 19

​ aunch
L 14-Feb-06 23-May-08
Date

Rating ☆☆☆☆ ​☆☆☆☆

Category

Category Equity Equity

Sub Cat. Large Cap Large Cap

Category 9 21
Rank

Risk Moderately High Moderately High

Expense 2.42 2.3

Ratio

SharpeRatio -0.7 -0.56

Information -1.38 -0.26

Ratio

Alpha Ratio -6.37 -3.82

Beta Ratio 0.91 0.88

Exit Load 0-1 Years (1%),1 Years and 0-1 Years (1%),1 Years and
above(NIL) above(NIL).

Interpretation :
Both the funds are at moderately high risk to invest in.
1.Expense ratio measures the per unit cost of managing a fund. The figure
is arrived at by dividing the fund’s total expenses by its assets under
management. There are various costs the AMC incurs which forms part of
the expense ratio. For example, the AMC has a fund management team
which consists of highly qualified professionals who track the markets and
companies in the portfolio. They make decisions to buy and sell securities to
meet the objectives of the scheme. In addition, the asset management
company also incurs expenses such for transfer and registrar, custodian,
legal, audit fees, and fees to be paid for marketing and distribution of its
products. These costs are recovered through its unit holders on a daily
basis. The daily net asset values (NAVs) of a fund scheme are reported
after deducting such expensesExpense ratio of SBI Bluechip Mutual fund
2.42 and ICICI Bluechip Mutual fund is 2.3 so SBI bluechip Mutual Fund
so investors have to pay more to SBI then ICICI

2. Sharpe Ratio :
Sharpe ratio is a comprehensive mechanism to ascertain the performance
of a fund against a given level of risk. The higher the Sharpe Ratio of a
portfolio, the better is its risk-adjusted performance. However, if you
obtain a negative Sharpe Ratio, then it means that you would be better off
investing in a risk-less asset than the one in which you are invested right
now. Sharpe ratio of both SBI and ICICI mutual fund is in negative thus it
would be better of investing in any risk free asset than investing in any of
the one

3.Information Ratio :
The Information ratio is a measure of the risk-adjusted return of a
financial security (or asset or portfolio). It is also known as Appraisal ratio.
Information ratio is expected active return divided by tracking error,
where active return is the difference between the return of the security and
the return of a selected benchmark index, and tracking error is the
standard deviation of the active return.
ICICI information ratio is better than SBI (-1.38 ) against that of ICICI
which stands at ( -0.26).

4. Alpha ratio :
Alpha is calculated as
Alpha = {(Fund return-Risk free return) – (Funds beta) *(Benchmark
return- risk free return)}.
Both the funds stand at negative alpha which is (- 6.37) for SBI and (-3.82)
for ICICI means they have underperformed their benchmarks with ICICI
been better than SBI here.

5. Beta ratio :
Beta is a measure of mutual fund schemes volatility compared to its
benchmark.
Beta = (Standard deviation of mutual fund scheme/Standard Deviation of
Benchmark)* R-Square

Beta standard for market is 1.0 if it is less than 1.0 it is less volatile with
respect to market and if it is more than 1.0 it is more volatile to the market.
eg. A fund with beta value more than 1 would move more volatile than the
market. i.e. if market moves up 100% a fund with beta value of 1.5 would
move up by 150% and if market comes down by 20% the fund will come
down by 30%.

If beta value is less than 1 it means fund will be less volatile than the
benchmark. i.e. if market moves up 100% a fund with beta value of 0.75
would move up by 75% and if market comes down by 20% the fund will
come down by 15%.
Beta of SBI is (0.91) and of ICICI is (0.88) means both are less volatile to
the changes in market.

Performance Section
The Compounded Annual Growth Rate or CAGR returns for both the schemes at different
time intervals are compared in this section. Some such time intervals include 1 Month Return,
6 Month Return, 3 Year Return, and Return Since Inception. With respect to the performance,
it can be said that for certain time intervals, the returns generated by both the schemes are
same. While in certain intervals, SBI Blue Chip Fund leads the race and in others, ICICI
Prudential Bluechip Fund lead the race. However, there is not much significant difference
between the returns generated by both the schemes. The summary comparison of the
performance section is tabulated as follows
.

Parameters SBI Bluechip Mutual ICICI Bluechip Mutual

Fund Fund
1 Month 2% 2.10%

3 Month 3% 3.20%

6 Month -5.70% -5.70%

1 Year 0.70% 4.2

3 Year 11.60% 15.2%.

5 Year 14.90% 14.1%.

Since 10.6%. 13.9%.

launch

This section is the third section in the comparison and the element compared is absolute
returns generated for a particular year. The comparison of yearly performance section also
reveals that for certain years, ICICI Prudential Bluechip Fund leads the race while in others,
SBI Blue Chip Fund leads the race. However, here too the difference between the returns
generated by both the schemes is not different.

YEAR SBI Bluechip Mutual Fund ICICI Bluechip Mutual Fund

2018 -4.10% -0.80%

2017 30.20% 32.70%

2016 4.80% 7.70%

2015 8% -0.20%

2014 47.90% 41.10%

Last Section includes elements like AUM, minimum SIP and lumpsum
investment. To begin with the AUM, it can be said that the AUM of both the
schemes is different with SBI Blue Chip Fund leading the race.

Parametres SBI Bluechip Mutual ICICI Bluechip Mutual

Fund Fund
Min SIP ₹500 ₹100
Investment
Min Investment ₹5,000 ₹5,000

Growth of 10k Investments over the years

From the below table it can been seen that investment of ₹10,000 grows
into how much in following five years as seen from the table it can be said
that there isnt much difference between two with SBI been slightly better
here.

YEAR SBI Bluechip ICICI Bluechip

Mutual Fund Mutual Fund
February 28, 2014 ₹10,000. ₹10,000

February 28, 2015 ₹15,656 ₹15,007

February 29, 2016 ₹13,981 ₹12,286

February 28, 2017 ₹17,849 ₹16,558

February 28, 2018 ₹20,919 ₹19,738

February 28, 2019 ₹20,012 ₹19,615

SBI MUTUAL FUND in DEPTH

Scheme Objective To provide investors with opportunities for long-term growth in capital
through an active management of investments in a diversified basket of equity stocks of
companies whose market capitalization is at least equal to or more than the least market
capitalized stock of S&P BSE 100 Index. SBI Bluechip Fund is a Equity - Large Cap fund
launched on 14 Feb 06. It is a fund with Moderately High risk and has given a CAGR return
of 10.9% since its launch. Ranked 9 in Large Cap category. Return for 2018 was -4.1% ,
2017 was 30.2% and 2016 was 4.8%

NAV over 10 Years :

Growth of 10k Over Years.

Year Value
28 Feb 14 ₹10,000

28 Feb 15 ₹15,656

28 Feb 16 ₹13,981

28 Feb 17 ₹17,849

28 Feb 18 ₹20,919
28 Feb 19 ₹20,012

Asset Allocation :
Asset Class Value
Cash 7.6%

Equity 93%

Asset Allocation
Top Holdings :

Company Sector PE 3Y 3Y %
High Low Assets
HDFC Bank Financial 30.79 9.15 6.18 8.89
Larsen & Toubro Construction 22.03 5.55 2.07 5.11
ITC FMCG 30.33 5.1 0.64 4.93
ICICI Bank Financial 74.59 4.77 0.51 4.56
HDFC Financial 35.36 5.11 0.8 4.28
Infosys Technology 20.75 5.74 0 3.52
Nestle India FMCG 63.36 3.83 0 3.31
Reliance Industries Energy 22.18 5.64 1.42 2.86
Axis Bank Financial 196.96 2.89 0 2.83
UPL Chemicals 23.78 3.12 1.83 2.82
Mahindra & Mahindra Automobile 16.9 4.37 1.46 2.55
State Bank of India Financial 0 3.43 0.76 2.4
Kotak Mahindra Bank Financial 37.01 2.84 0.13 2.4
HCL Technologies Technology 14.13 3.01 1.04 2.37
Divi's Laboratories Healthcare 34.78 2.54 0.67 2.35
Cholamandalam Invest. & Fin. Financial 18.37 2.73 1.23 1.81
Motherson Sumi Systems Automobile 29.74 2.38 1.25 1.76
Hero Motocorp Automobile 14.44 2.53 0 1.59
Cummins India Engineering 27.81 1.51 0 1.51
Hindalco Inds. Metals 33.6 2.39 0 1.5
HPCL Energy 9.14 3.09 1.39 1.39
Tata Consultancy Services Technology 24.94 2.82 0 1.39
ICICI Prudential Life Insurance Co. Financial 40.92 1.82 0 1.38
Ltd.
NTPC Energy 12.68 1.71 0 1.36
Maruti Suzuki India Automobile 27.27 2.63 1.23 1.2

ICICI Prudential Bluechip Mutualfund :

Scheme Objective
To generate long-term capital appreciation and income distribution to unit holders from a
portfolio that is invested in equity and equity related securities of about 20 companies
belonging to the large cap domain and the balance in debt securities and money market
instruments. The Fund Manager will always select stocks for investment from among Top
200 stocks in terms of market capitalization on the National Stock Exchange of India Ltd. If
the total assets under management under this scheme goes above Rs. 1,000 crores the Fund
Manager reserves the right to increase the number of companies to more than 20. ICICI
Prudential Bluechip Fund is a Equity - Large Cap fund launched on 23 May 08. It is a fund
with Moderately High risk and has given a CAGR return of 14.1% since its launch. Ranked
21 in Large Cap category. Return for 2018 was -0.8% , 2017 was 32.7% and 2016 was 7.7%

NAV over 10 years :

Year Value
28 Feb 14 ₹10,000

28 Feb 15 ₹15,007

28 Feb 16 ₹12,286

28 Feb 17 ₹16,558

28 Feb 18 ₹19,738

28 Feb 19 ₹19,615
Asset Allocation :

Asset Class Value

Cash 5.16%

Equity 94.77%.

Other 0.07%

Asset Allocation