ICICI Prudential Bluechip Fund Vs Mirae Asset India Equity Fund

ICICI Prudential Bluechip Fund and Mirae Asset India Equity Fund both are a part of Large Cap Equity Funds. Large cap funds invest their accumulated pooled in shares of companies whose Market capitalization is more than INR 10,000 crores. They are also known as bluechip companies. These companies provide a steady growth and returns and are considered as market leaders in their respective Industry. Moreover, when the Economy does not perform well, a number of investors try to switch their investments towards large cap companies. Though ICICI Prudential Bluechip Fund and Mirae Asset India Equity Fund are a part of the same category of Mutual Funds, nevertheless; they exhibit different attributes. So, let us understand the differences between both the schemes based on various parameters.

ICICI Prudential Bluechip Fund (Erstwhile ICICI Prudential Focused Bluechip Equity Fund)

ICICI Prudential Bluechip Fund (earlier known as ICICI Prudential Focused Bluechip Equity Fund) is managed by ICICI Prudential Mutual Fund. This open-ended large-cap fund was launched on May 23, 2008, and it uses Nifty 50 Index as its base for building its Portfolio. The objective of ICICI Prudential Bluechip Fund is to achieve Capital appreciation in the long-term tenure by predominantly Investing in equity and equity-related instruments of companies belonging to the large-cap domain. Maruti Suzuki India Limited, Eicher Motors Limited, ICICI Bank Limited, and Larsen & Toubro Limited are some of the constituents of ICICI Prudential Bluechip Fund as on March 31, 2018. The scheme follows a benchmark hugging strategy which ensures that the portfolio is well-diversified thereby reducing the overall risk.

Mirae Asset India Equity Fund (Erstwhile Mirae Asset India Opportunities Fund)

Mirae Asset India Equity Fund (earlier known as Mirae Asset India Opportunities Fund) is an open-ended large-cap equity fund. This scheme is managed and a part of Mirae Asset Mutual Fund and was incepted on April 04, 2008. Larsen & Toubro Limited, Infosys Limited, State Bank of India, and Reliance Industries are some of the constituents that form part of the scheme’s portfolio in the top 10 position. Mirae Asset India Equity Fund is jointly managed by Mr. Neelesh Surana and Mr. Harshad Borawake. Some of the features of the fund include risk mitigation to reduce Volatility and improve liquidity, focus on good business, and consistency of performance. Investors seeking for long-term capital appreciation by investing in equity and equity-related securities can choose to invest in Mirae Asset India Equity Fund. The scheme thrives to maximize opportunities under various market situations.

ICICI Prudential Bluechip Fund Vs Mirae Asset India Equity Fund

The differences between both the schemes are classified into four sections, namely, basics section, performance section, yearly performance section, and other details section. These sections are explained below as follows.

Basics Section

Some of the comparable elements that form part of basics section include; Scheme Category, Fincash Rating, and Current NAV. To begin with the scheme category, it can be said that, both the schemes belong to the same category, Equity Large Cap. With respect to the next parameter, namely, Fincash Rating, it can be said that Mirae Asset India Equity Fund is rated as 5-Star rated while ICICI Prudential Bluechip Fund is 4-Star Rated Fund. The comparison of Current NAV also shows a difference between both the schemes. As on April 25, 2018, the NAV of ICICI Prudential Mutual Fund’s scheme was approximately INR 40 and of Mirae Asset Mutual Fund’s scheme was approximately INR 46. The table given below summarizes the difference between both the scheme.

Performance Section

This section compares the Compounded Annual Growth Rate or CAGR returns between both the schemes. These returns are compared at different time intervals such intervals include 1 Year Return, 3 Year Return, 5 Year Return, and Return since Inception. On an overall note, it can be said that there is a difference between the returns earned by both the schemes. However, at many time periods, the returns of Mirae are higher. The summary comparison of the performance section is tabulated as follows.

Yearly Performance Section

Being the third section in comparison, the yearly performance section compares the Absolute Returns generated by both the schemes for a particular year. The comparison of yearly performance section also reveals that Mirae Asset India Equity Fund leads the race. The summary of yearly performance section is as shown in the table given below.

Other Details Section

Being the last section, it compares parameters such as AUM, minimum lumpsum investment, minimum SIP investment, and much more. The minimum lumpsum investment for both the schemes is same that is, INR 5,000. Similarly, the minimum SIP investment for both the schemes is also same that is, INR 1,000. However, the comparison of AUM shows a drastic difference between both the schemes. As on March 31, 2018, the AUM of Mirae Mutual Fund’s scheme is around INR 6,775 crores and of ICICI Prudential Mutual Fund’s scheme is around INR 16,102 Crores. This summary of the different comparable parameters of both the schemes is tabulated as follows.

Growth of 10k Investments over the years