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Fincash » ICICI Pru Bluechip Fund Vs Mirae Asset India Equity Fund

ICICI Prudential Bluechip Fund Vs Mirae Asset India Equity Fund

Updated on November 17, 2019 , 915 views

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.

Parameters
BasicsNAV
Net Assets (Cr)
Launch Date
Rating
Category
Sub Cat.
Category Rank
Risk
Expense Ratio
Sharpe Ratio
Information Ratio
Alpha Ratio
Benchmark
Exit Load
ICICI Prudential Bluechip Fund
Growth
Fund Details
₹43.66 ↑ 0.15   (0.34 %)
₹24,132 on 31 Oct 19
23 May 08
Equity
Large Cap
21
Moderately High
2.13
0.67
-0.54
-2.5
Not Available
0-1 Years (1%),1 Years and above(NIL)
Mirae Asset India Equity Fund 
Growth
Fund Details
₹53.287 ↑ 0.20   (0.38 %)
₹15,897 on 31 Oct 19
4 Apr 08
Equity
Multi Cap
19
Moderately High
2.17
0.99
0.15
0.51
Not Available
0-1 Years (1%),1 Years and above(NIL)

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.

Parameters
Performance1 Month
3 Month
6 Month
1 Year
3 Year
5 Year
Since launch
ICICI Prudential Bluechip Fund
Growth
Fund Details
1.7%
8%
5.6%
8.2%
12.6%
8.8%
13.7%
Mirae Asset India Equity Fund 
Growth
Fund Details
3.3%
8.5%
7.1%
11.6%
15.3%
11.5%
15.5%

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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.

Parameters
Yearly Performance2018
2017
2016
2015
2014
ICICI Prudential Bluechip Fund
Growth
Fund Details
-0.8%
32.7%
7.7%
-0.2%
41.1%
Mirae Asset India Equity Fund 
Growth
Fund Details
-0.6%
38.6%
8.1%
4.3%
52.9%

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.

Parameters
Other DetailsMin SIP Investment
Min Investment
Fund Manager
ICICI Prudential Bluechip Fund
Growth
Fund Details
₹100
₹5,000
Rajat Chandak - 1.63 Yr.
Mirae Asset India Equity Fund 
Growth
Fund Details
₹1,000
₹5,000
Neelesh Surana - 11.48 Yr.

Growth of 10k Investments over the years

Growth of 10,000 investment over the years.
ICICI Prudential Bluechip Fund
Growth
Fund Details
DateValue
31 Oct 14₹10,000
31 Oct 15₹10,145
31 Oct 16₹11,390
31 Oct 17₹14,008
31 Oct 18₹13,860
31 Oct 19₹15,321
Growth of 10,000 investment over the years.
Mirae Asset India Equity Fund 
Growth
Fund Details
DateValue
31 Oct 14₹10,000
31 Oct 15₹10,688
31 Oct 16₹12,417
31 Oct 17₹15,493
31 Oct 18₹15,332
31 Oct 19₹17,654

Detailed Assets & Holdings Comparison

Asset Allocation
ICICI Prudential Bluechip Fund
Growth
Fund Details
Asset ClassValue
Cash5.96%
Equity93.93%
Debt0.01%
Other0.1%
Equity Sector Allocation
SectorValue
Financial Services32.1%
Technology10.52%
Consumer Cyclical7.91%
Basic Materials7.76%
Energy7.59%
Consumer Defensive6.57%
Industrials5.99%
Utility4.85%
Communication Services4.29%
Health Care1.94%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 31 Dec 10 | HDFCBANK
9%₹2,156 Cr17,561,180
Infosys Ltd (Technology)
Equity, Since 30 Nov 10 | INFY
7%₹1,598 Cr19,840,238
↑ 1,721,850
ICICI Bank Ltd (Financial Services)
Equity, Since 30 Jun 08 | ICICIBANK
6%₹1,475 Cr34,000,000
Net Current Assets
Net Current Assets | -
5%-₹1,073 Cr
Axis Bank Ltd (Financial Services)
Equity, Since 31 Mar 14 | 532215
5%₹1,069 Cr15,601,708
↑ 4,748,917
Nifty 50 Index
- | -
5%₹1,064 Cr922,575
↑ 150,000
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED
Commercial Paper | -
4%₹999 Cr20,000
↑ 20,000
Bharti Airtel Ltd (Communication Services)
Equity, Since 31 Aug 09 | BHARTIARTL
4%₹932 Cr25,396,804
Treps
CBLO/Reverse Repo | -
4%₹909 Cr
Reliance Industries Ltd (Energy)
Equity, Since 30 Jun 08 | RELIANCE
4%₹837 Cr6,285,943
↑ 403,056
Asset Allocation
Mirae Asset India Equity Fund 
Growth
Fund Details
Asset ClassValue
Cash3.64%
Equity96.36%
Debt0%
Equity Sector Allocation
SectorValue
Financial Services36.42%
Energy9.22%
Consumer Cyclical9.14%
Consumer Defensive8.95%
Technology8.81%
Industrials7.44%
Health Care6.28%
Basic Materials5.97%
Utility2.72%
Communication Services1.41%
Top Securities Holdings / Portfolio
NameHoldingValueQuantity
HDFC Bank Ltd (Financial Services)
Equity, Since 28 Feb 09 | HDFCBANK
9%₹1,396 Cr11,370,912
↑ 143,428
ICICI Bank Ltd (Financial Services)
Equity, Since 31 Oct 09 | ICICIBANK
7%₹985 Cr22,709,454
↑ 1,154,123
Reliance Industries Ltd (Energy)
Equity, Since 30 Apr 08 | RELIANCE
6%₹907 Cr6,805,705
ITC Ltd (Consumer Defensive)
Equity, Since 29 Feb 12 | ITC
4%₹663 Cr25,515,540
↑ 2,846,046
Axis Bank Ltd (Financial Services)
Equity, Since 31 Mar 14 | 532215
4%₹662 Cr9,665,638
↑ 317,965
State Bank of India (Financial Services)
Equity, Since 31 Jul 08 | SBIN
4%₹642 Cr23,694,443
↑ 5,351,152
Larsen & Toubro Ltd (Industrials)
Equity, Since 29 Feb 12 | LT
4%₹616 Cr4,181,467
↑ 179,122
Infosys Ltd (Technology)
Equity, Since 31 May 08 | INFY
4%₹554 Cr6,880,800
Tata Consultancy Services Ltd (Technology)
Equity, Since 31 May 09 | TCS
3%₹510 Cr2,430,069
↑ 145,097
Kotak Mahindra Bank Ltd (Financial Services)
Equity, Since 31 Jul 15 | KOTAKBANK
3%₹392 Cr2,385,150

Therefore, it can be concluded from the above pointers, that there exist numerous differences between both the schemes. Hence, individuals should check the scheme details completely before investing and ensure whether the scheme matches their investment details or not. This will help them to attain their objectives on time and in a hassle-free manner.

Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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