New Delhi. It is the wish of every investor that his invested money should double and quadruple every day. But, very few investors have this desire. Still, many times such stocks or mutual funds come into the market, which turn their investors into kings in no time. If you are also looking for such an option, then perhaps this mutual fund can become your destination. This fund converted an investment of Rs 10 lakh into Rs 7.26 crore in just 22 years. The only condition is that you remain in this fund for a long time.
Investment experts say that if you stay in a mutual fund for a long time, it can give you many times the benefits compared to other assets or benchmarks. For example, an investment of Rs 10 lakh 22 years ago in ICICI Prudential Multi Asset Fund, one of the largest multi asset allocation funds in the country, has become Rs 7.26 crore today. According to Arthaprofit data, during the same period the same amount in its benchmark i.e. Nifty 200 TRI was only Rs 3.36 crore.
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This fund has 48 percent AUM
According to the data compiled by Arthlabh, the asset under management i.e. AUM of ICICI Prudential Multi Asset Fund has been Rs 59,495 crore. This means that this fund house has about 48 percent of the total AUM of multi-asset allocation in the industry. This means that investors have trusted this scheme a lot. Statistics show that an investment of Rs 10 lakh made in ICICI Prudential Multi Asset Fund on October 31, 2002 has given returns at the rate of 21.58 percent compound interest per annum till September 30 this year. The return of the same investment in the benchmark Nifty 200 TRI has been only 17.39 percent.
SIP made a fund of Rs 3 crore
This fund has also given bumper returns through SIP. As far as investment through SIP is concerned, a monthly investment of Rs 10,000 in this fund has grown to Rs 2.9 crore in 22 years. The amazing thing is that the actual investment has been only Rs 26.4 lakh. In this way, if seen, the return has been at the rate of CAGR 18.37 percent. In the benchmark of the scheme, this same investment has been successful in giving returns at the rate of 14.68 percent per annum.
How did you make so much return?
Nimesh Shah, MD & CEO, ICICI Prudential AMC says, “The wealth creation journey of our fund is a strong testament to the power of disciplined asset allocation across different asset classes. This approach has delivered huge returns to our investors over the long term. In ICICI Prudential Mutual Fund, fund managers of equity, debt and commodity together make the investment strategy. S Naren, chief investment officer at the fund house, says that over the last decade and beyond, the performance of various asset classes has shown that the top performing stocks often change from year to year. The fund invests in equity, debt and exchange traded commodity derivatives/gold ETF units/silver ETF units REITs and InvITs.
Tags: business news, investment tips, mutual fund
FIRST PUBLISHED: November 12, 2024, 16:28 IST