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Multi Cap Fund SEBI Risk: Very High AMC: ICICI Prudential Mutual Fund

ICICI Prudential Multicap Fund - Direct Plan - Growth

Benchmark: NIFTY 500 Multicap 50:25:25 TRI • Manager: Sankaran Naren • Portfolio Date: 2026-09-30
Composite Health Score
87.0/100
INSTITUTIONAL_ALPHA
🔒 Deep Dive

Look-Through Forensics & Audit Narrative

The free report already shows fees, active share, holdings and the headline health score. The Deep Dive opens up what sits underneath the portfolio.

  • Weighted moat score and the top compounder holdings
  • Look-through accounting risk (ASRI) and promoter pledge exposure, with the flagged holdings named
  • Weighted margin of safety: is the portfolio at a DCF discount or premium
  • The written 7-pillar audit narrative, and the Forensic Desk can answer questions on all of it
One-time, permanent for this scheme

01: Dual-Sleeve Constituent Decomposition

Equity holdings evaluated via Forensic Equity Engine; Debt/bonds evaluated via Credit & Solvency Engine.
Equity: 28.1% (Score: 81.5) Debt: 0.0% (Score: 0.0) Cash / TREPS: 11.9%
Identifier Security Name Type Weight Sector / Rating Engine Score Diagnostic Notes
TREPS TREPS Repo CASH_EQUIVALENT 11.9% CASH 100.0 Liquid Cash / Sovereign Collateral
ICICIBANK ↗ ICICI Bank Ltd EQUITY 7.2% Private Banks 82.0 Verified 7-Pillar Equity Dossier Available
INFY ↗ Infosys Ltd EQUITY 6.1% IT Services 82.0 Verified 7-Pillar Equity Dossier Available
RELIANCE ↗ Reliance Industries Ltd EQUITY 5.5% Energy & Petrochemicals 82.0 Verified 7-Pillar Equity Dossier Available
TATACOMM ↗ Tata Communications Ltd EQUITY 3.6% Telecom Services 82.0 Verified 7-Pillar Equity Dossier Available
MAXHEALTH ↗ Max Healthcare Institute EQUITY 3.2% Healthcare Services 78.0 Solid Core Holding (Pending 7-Pillar Audit)
ELECON ↗ Elecon Engineering Ltd EQUITY 2.5% Heavy Electricals 82.0 Verified 7-Pillar Equity Dossier Available

02: True Diversification & Active Share

Exposing Closet Indexing: Active Share AS = 0.5 × ∑|w_fund - w_bench|
Active Share Score
68.0%
TRUE_ACTIVE_ALPHA

High Active Share: Portfolio significantly deviates from the passive benchmark, justified active fee.

Top 10 Holdings Concentration: 40.0%

03 & 04: Risk-Adjusted Alpha & Downside Capture

Evaluating asymmetrical compounding: Downside Capture Ratio vs Upside Capture Ratio.
Sortino Ratio
1.78
Downside Risk Only
Downside Capture
72.0%
Benchmark: ≤ 75%
Capture Spread
+27.0%
UCR (99.0%) - DCR
Hurst Exponent (H)
0.59
Persistent Momentum
3-Year Rolling Return Consistency: 80.0% of windows

05: Intermediary Fee Drag & Wealth Destruction

Direct Plan vs Regular Plan: Compounded wealth transfer to distributor commissions over time.
Annual Distributor Commission Drag
77.0 bps / yr (1.72% - 0.95%)
Time Horizon Direct Plan Value (Net) Regular Plan Value (Net) Cumulative Wealth Lost Percentage Corpus Destroyed
5 Years ₹1,688,857 ₹1,631,112 -₹57,745 3.4%
10 Years ₹2,852,237 ₹2,660,526 -₹191,711 6.7%
15 Years ₹4,817,020 ₹4,339,617 -₹477,403 9.9%
20 Years ₹8,135,257 ₹7,078,401 -₹1,056,856 13.0%

💡 Fiduciary Takeaway: A ₹10.0 Lakh investment loses ₹191,711 over 10 years purely to distributor commissions in the Regular plan.

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