๐Ÿ“Š Small Cap Fund ยท Deep Analysis

ICICI Prudential Small Cap Fund

Direct Growth ยท SEBI Category: Small Cap Fund ยท AMC: ICICI Prudential Mutual Fund

Current NAVLoading...
1 Year Returnโ€”
3 Year Returnโ€”
5 Year Returnโ€”
AUMโ‚น8,900 Cr+
Expense Ratio0.84%
Min SIPโ‚น100/mo
Live data: Fetching from MF API India โ€” charts and returns loading below...
Fund Overview

ICICI Prudential Small Cap Fund โ€” Quick Summary

ICICI Prudential Small Cap Fund is one of India's oldest small cap funds, launched in October 2007. With over 16 years of track record, it has seen multiple market cycles. The fund follows a value-oriented approach โ€” relatively unusual in the small cap space โ€” and benefits from ICICI Prudential's industry-leading research infrastructure. The low minimum SIP of just โ‚น100/month makes it highly accessible.

Fund House
ICICI Prudential Mutual Fund
Category
Small Cap Fund
Launch Date
October 2007
AUM
โ‚น8,900 Cr+
Expense Ratio
0.84% (Direct)
Minimum SIP
โ‚น100/mo
Benchmark
Nifty Smallcap 250 TRI
Exit Load
1% if < 1 year
Fund Manager
Harish Bihani
Risk Level
Very High
Ideal Horizon
7+ Years
LTCG Tax
12.5% above โ‚น1.25L

โœ“ Suitable For

โœ“Investors with 7+ year horizon who can stay patient through crashes
โœ“SIP investors doing rupee cost averaging every month without stopping
โœ“Those seeking high wealth creation and comfortable with high volatility
โœ“Experienced investors using this as a satellite allocation in a diversified portfolio

โœ— Not Suitable For

โœ—First-time investors โ€” start with a large cap or hybrid fund first
โœ—Anyone who needs money within 3โ€“5 years โ€” small caps can be down for years
โœ—Investors who panic sell โ€” 40โ€“50% crashes are normal in this category
โœ—Those making it their only fund โ€” concentration in small caps is dangerous
Who Runs This Fund

Fund Manager

HM
Harish Bihani
Senior Fund Manager, ICICI Prudential MF
Managing Since
2018
Experience
20+ Years
Funds Managed
3 Funds
Total AUM
โ‚น15,000 Cr+

Harish Bihani brings a value-oriented lens to small cap investing โ€” rare in a category dominated by growth investors. He focuses on stocks trading at reasonable valuations relative to earnings power, prioritising margin of safety. ICICI Pru's research-heavy culture provides deep support for his stock selection.

Fund History

Key Moments in Fund's Life

October 2007
๐Ÿš€ Fund Launch
One of the early small cap funds in India, launched before the 2008 global financial crisis. The timing tested early investors immediately.
2008
๐Ÿ’ฅ Global Financial Crisis
The fund was barely a year old when Lehman Brothers collapsed and global markets crashed 50-60%. Small caps were hit harder. A brutal initiation for the fund.
2013 โ€” 2017
๐Ÿ“ˆ The Small Cap Bull Run
Along with the broader small cap category, the fund delivered strong returns. Investor interest grew significantly.
2018 โ€” 2019
โšก SEBI Recategorisation
SEBI mandated portfolio changes for all small cap funds. The fund repositioned its holdings to comply with the new 65% minimum small cap allocation rule.
March 2020
๐Ÿ’ฅ COVID Crash
Another sharp crash. The fund drew down significantly. Long-term investors who held through benefited from the recovery.
2021 โ€” 2022
๐Ÿ† Post-COVID Recovery
Strong recovery as small caps surged. The fund's value approach meant it picked up quality stocks at depressed prices during the crash.
2024
๐Ÿ“Š AUM crosses โ‚น8,500 Cr
Sustained performance and brand strength of ICICI Prudential drives ongoing AUM growth.
What They Don't Tell You

The Dark Chapters

Every fund has painful periods. Here's an honest look at when ICICI Prudential Small Cap Fund struggled โ€” because understanding this is crucial before investing.

2008 ยท 12 Months
Born and Baptised by Fire
Launched just before the 2008 global financial crisis, the fund lost over 60% in its first year of existence. Early investors faced devastating losses. Recovery took years.
Peak to trough: ~60%+ in first year
2018 โ€” 2020 ยท 24 Months
Double Trouble โ€” NBFC Crisis Then COVID
The NBFC crisis of 2018 followed by the IL&FS collapse hammered small caps. Just as recovery was beginning, COVID struck in March 2020. Investors who entered in 2017-18 spent 2+ years in significant losses.
Extended drawdown period: 2+ years
Expense Ratio Concern
At 0.84% โ€” Higher Than Category Average
ICICI Pru Small Cap's expense ratio of 0.84% is significantly above cheaper alternatives like Tata (0.28%) or Bandhan (0.42%). Over 10-15 years, this difference compounds into a meaningful drag on returns. Investors should factor this cost when comparing funds.
Cost disadvantage vs peers
โš ๏ธ Educational Disclaimer: The dark chapters above are presented for educational awareness only. Past difficulties do not predict future performance. CRNIndia.com is NOT a SEBI/AMFI registered advisor. Please consult a qualified financial advisor before investing.
Live Data Sections Below
Performance

Returns vs Benchmark

1 Month
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Nifty SC: โ€”
3 Month
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Nifty SC: โ€”
6 Month
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Nifty SC: โ€”
1 Year
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Nifty SC: โ€”
3 Year CAGR
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Nifty SC: โ€”
5 Year CAGR
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Nifty SC: โ€”
10 Year CAGR
โ€”
Nifty SC: โ€”
Since Inception
โ€”
Sep 2009
Consistency Analysis

Rolling Returns โ„น๏ธ What is this?

Rolling returns show how the fund performed across every possible investment period โ€” not just one cherry-picked date. This reveals true consistency. Learn more โ†’

1Y Rolling (Avg)
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% of times positive: โ€”
3Y Rolling (Avg)
โ€”
% of times positive: โ€”
5Y Rolling (Avg)
โ€”
% of times positive: โ€”
1-Year Rolling Returns Each point = 1yr return from that date
Risk Analysis

Maximum Drawdown โ„น๏ธ What is this?

Drawdown shows the biggest fall from peak NAV. This is what investors actually experience during market crashes. Learn more โ†’

Max Drawdown Ever
โ€”
Recovery time: โ€”
2020 Covid Crash
-40.2%
Recovery: 14 months
2018 IL&FS Crisis
-28.6%
Recovery: 24 months
Current from Peak
โ€”
Peak NAV: โ€”
Drawdown Chart % fall from rolling peak NAV
Valuation Signal

NAV vs 200-Day Moving Average

When NAV is above 200 DMA, the fund is in an uptrend. When below, it signals caution. Many investors use this as a simple entry/exit signal.

Current NAV
โ€”
200 DMA
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NAV vs DMA
โ€”
Loading signal...
NAV vs 200 DMA
Risk Metrics

Risk Ratios

Alpha (3Y)
โ€”
Excess return over benchmark. Higher is better.
Beta (3Y)
โ€”
Volatility vs market. >1 means more volatile.
Sharpe Ratio
โ€”
Return per unit of risk. >1 is considered good.
Sortino Ratio
โ€”
Like Sharpe but only penalises downside risk.
Std Deviation
โ€”
How much returns fluctuate. Lower = more stable.
R-Squared
โ€”
How closely it tracks the benchmark index.
Benchmark Comparison

Fund vs Nifty Smallcap 250

โ‚น1 Lakh invested โ€” Growth comparison
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