IC ICIC ICI I Prud udent ential ial Val alue ue Fun und d - - PowerPoint PPT Presentation

IC ICIC ICI I Prud udent ential ial Val alue ue Fun und d – Se Seri ries es 16 16

NFO Perio iod: : 24 24th

th July

ly 201 017 7 to to 7th

th Augu

gust st 201 017

All data/information used in the preparation of this material is dated and may or may not be relevant any time after the issuance of this material. The AMC takes no responsibility of updating any data/information in this material from time to time. The recipient of this material is solely responsible for any action taken based on this

• material. The

he inf infor

• rma

mation ion herein herein is is sole solely ly fo for priva rivate circ irculat ulation ion and and for

• r read

reading/und ing/understa rstanding nding of

• f reg

registere istered Adv dviso isors/Distribut rs/Distributors

• rs and

and should should no not be be circ irculat ulated ed to to inve vest stor

• rs/p

s/prosp

• spec

ective ive inve vestor stors.

Our Outlook for Indian Equity Market

2

The information herein is solely for private circulation and for reading/understanding of registered Advisors/Distributors and should not be circulated to investors/prospective investors.

 From a global context, India stands out for three reasons – stable macros, prudent fiscal and monetary policies, and gradual but steady pace of reforms.  With the implementation of Goods and Services Tax (GST), there is huge expectation

• f the tax base increasing and a larger part of the economy coming under taxation.

 We recommend that investors can continue to maintain over-weight exposure in

• equities. Reasonable growth is expected from equity markets over the next two-to-

three years.

Source: Kotak Institutional Equity, Press Reader. The information herein is solely for private circulation and for reading/understanding of registered Advisors/Distributors and should not be circulated to investors/prospective investors. FII: Foreign Institutional Investors

3 Months Flow (in US$ mn)

India has seen robust FII inflows so far this year. Better relative macro indicators are the reason

• f attracting higher % share.

12 Months Flows (in US$ mn)

Emerging Markets Flows – India among favourite destination

4

India Story - Corporate Profitability Likely to Pick Up

4

8.0% 0% 0% 2% 2% 4% 4% 6% 6% 8% 8% 10% 10% 12% 12% 1991 1991 1992 1992 1993 1993 1994 1994 1995 1995 1996 1996 1997 1997 1998 1998 1999 1999 2000 2000 2001 2001 2002 2002 2003 2003 2004 2004 2005 2005 2006 2006 2007 2007 2008 2008 2009 2009 2010 2010 2011 2011 2012 2012 2013 2013 2014 2014 2015 2015 2016 2016 2017e

Prof Profits / GDP GDP %

Data Source: Morgan Stanley March 31, 2017, E : Estimate, The infor formation mation herein in is sole lely ly for priva vate circula lation tion and d for readin ding/ g/unde derstan standin ding g of regis giste tered Advisor visors/Dis Distr tribu ibutor tors s and d shou

• uld

ld not t be circula late ted d to inve vestor stors/ s/pr prospe

• spectiv

tive inve vestor stors.

Due to low capacity utilisation, the Corporate profitability has been muted. Average Profit/GDP%

India Story - Capacity Utilization below Long Term Average

5

67.7 73.8 82.2 82.6 79.2 90.0 86.3 72.8 73.5 73.3 74.1 73.5 69.0 68.8 70.2 72.6 Long Term Average

Cap apacity ity Utiliz lizatio ation( n(%) %)

The capacity ity utili lisat atio ion is below w the long ng term average of 76%. %. As demand and increas ases, the corporat ates may be able to manu nufac actur ture more witho hout spend nding ing additi tional nally ly to build ld capacit

• ity. This may result

t in highe her operat ating ing leverage.

Data as on April 30 2017, Source: Bloomberg. The information herein is solely for private circulation and for reading/understanding of registered Advisors/Distributors and should not be circulated to investors/prospective investors.

76%

105 40 60 80 100 120 140 160

Equity ity Valuation tion Index

Equity Va Valuation ind ndex is calculated by by assi signing equ qual weights to

• Price-to

to-Earnings (PE) E), Price-to to-Book (PB) B), G-Sec*PE and nd Market Cap to

• GDP rati
• tio. G-Sec

– Gov

• vernment Se
• Securities. GDP – Gross

s Domestic Product

Book Profit its / Stay Invested Current nt Zone – Invest t in funds which h limit its down wnsid ide Invest in Equiti ities Aggressiv ively ly Invest in Equiti ities

Equity Valuation Index – We are in the Mid Cycle

Equity Valuation index is calculated by assigning equal weights to Price-to-Earnings (PE), Price-to-Book (PB), G-Sec*PE and Market Cap to GDP ratio. G-Sec – Government Securities. GDP – Gross Domestic Product; SIP – Systematic Investment Plan, The infor

• rmation
• n herein

n is solely y for priva vate circu culation

• n and for reading/un

ng/unde derstandi nding ng of registered d Adviso sors/ s/Distri stributors butors and d shoul uld d not be circu culated d to inves vestor

• rs/

s/pr pros

• spe

pective ctive inves vestor

• rs.

s.

As Global uncertainties cannot be ruled out, near term volatility can be

• expected. Hence,

investor could consider investing in funds which limit downside due to volatility.

7

• 11000
• 6000
• 1000

4000 9000 14000 2000 7000 12000 17000 22000 27000 32000 37000 Net(Cr.) S&P BSE Sensex

Investor Behaviour at Mid Cycle of the Market

Data source: MFI. As on June 30, 2017 The information herein is solely for private circulation and for reading/understanding of registered Advisors/Distributors and should not be circulated to investors/prospective investors.

Net (Rs Rs Cr.) S&P BSE SENSEX

S&P BSE Sensex Growth vs. Net Equity Flows

Investors tend to invest more when market is in uptrend. Investors tend to invest less when market is in recovery phase

Presenting - ICICI Prudential Value Fund – Series 16

8

ICICI Prudential Value Fund - Series 16

 invests in equities with an aim to limit the downside.  follows Multicap approach  uses hedging strategy to limit the downside

Stock

• ck Selection

lection

Multicap Approach

Mix x of Equi quity ty and d Debt bt

Invest in debt when equity valuations are expensive

Hedgi dging ng position sition to manage nage Equity uity Risk

Use Hedging positions, when valuations are expensive

The asset allocation and investment strategies will be as per Scheme Information Document of the Scheme, The informatio rmation n herein in is solely ly for private ate circulatio ulation and for reading ing/und underst rstan anding ing of regist istered red Adviso visors/Dist rs/Distrib ributo utors rs and should uld not be circulated ulated to invest stors/p rs/pro rosp spective ive invest stors. s.

Wh Why ICICI I Prud udent ential ial Value ue Fund nd - Series es 16?

9

 As we are in the midst of economic uptrend and investors could participate in the equity market with a conservative approach  The fund aims to limit downside by using hedging strategy and counter cyclical investment approach  Earnings cycle is yet to improve and most micro indicators have just started picking-up  Stock specific value investing opportunities are available  Value/Contra investing approach could be a prudent way forward

The infor

• rma

mation ion herein in is solely ly for private ate circulat ulation ion and d for readin ing/u /under nderst stan andin ing of registere stered d Advisors sors/Dist Distribut ributors rs and should

• uld not be

circu culat lated to invest stors/ s/prosp spect ectiv ive inves estors tors.

ICICI Prudential Value Fund – Series 16 – Key Themes

10

The sector(s)/stock(s) mentioned in this presentation do not constitute any recommendation of the same and ICICI Prudential Mutual Fund may or may not have any future position in these sector(s)/stock(s). The asset allocation and investment strategy will be as per Scheme Information Document, The informatio rmation n herein in is solely ly for privat vate circulatio ulation n and for reading ing/un underst rstand anding ing of regis istered red Adviso isors/Dist rs/Distrib ribut utors rs and should ld not be circulated ulated to invest stors/ rs/prosp spective tive invest stors. rs.

Businesses Shifting From Unorganised to Organised Segment of the Economy Information Technology Pharmaceutical Banking Infrastructure

11

• 60
• 40
• 20

20 40 60 80 100

Nif Nifty 50 ty 50 Nif Nifty In ty Infr frastr tructu ucture re

Index 10 Years ars Absolute ute % % Nifty ty 50 129.61 61 Nifty ty Infras astru tructur cture

• 9.89

89

Infrastructure Sector Valuations Still Reasonable (Calendar Year Return %)

Sector r has underpe rperf rform

• rmed

d the broade ader r market in the l last 10 years

The sector(s)/stock(s) mentioned in this presentation do not constitute any recommendation of the same and ICICI Prudential Mutual Fund may or may not have any future position in these sector(s)/stock(s). Data as on 15 June 2017. Past performance may or may not be sustained in future, The infor

• rmation
• n herein

n is solely y for priva vate circu culation

• n and for

reading/un ng/unde dersta standi nding ng of registered d Adviso sors/ s/Distribu butor

• rs and shoul

uld d not be circu culated d to inves vestor

• rs/

s/pr pros

• spe

pective ctive inves vestor

• rs.

s.

POWER: Government’s focus on lowering debts of power distribution companies and infrastructure expansion in rural and urban areas. MINERA RALS LS / M MINING ING: Could grow in tandem with expected increase in demand for power, operational efficiency, and relatively cheaper valuations. TELECOM: India’s demographic advantage, rapid growth in data consumption, and government initiatives such as Digital India. CONSTR TRUCTIO UCTION N & CONSTR TRUCT UCTIO ION N PROJECTS CTS: Government’s focus on infrastructure expansion in rural and urban

• areas. They could also leverage on excess capacity.

TRANSP SPORT RTATIO ION: Could benefit from the implementation of Goods and Services Tax (GST), operational efficiency, and relatively cheaper valuations.

The sector(s)/stock(s) mentioned in this presentation do not constitute any recommendation of the same and ICICI Prudential Mutual Fund may or may not have any future position in these sector(s)/stock(s). Portfolio of the scheme is subject to changes within the provision of the Scheme information Document, The infor

• rmation
• n herein

n is solely for priva vate circu culation

• n

and for reading ng/un /unde dersta standi nding ng of regis gistered d Adviso sors/D /Distributors butors and shoul

• uld

d not be circu culated d to inves vestor

• rs/

s/pr pros

• spe

pective ctive investor

• rs.

s.

Why Invest In Infrastructure Sector?

12

100 Smart Cities – Digital al India a 10,0 ,000 Km o

• f

New Roads UDAY Scheme For financia cial l revival al

• f Power

distrib ibut ution ion compani anies es Focus on Affordab rdable le Housing ng Stable Governm nment nt & Policy cy Initiati atives Goods s and Services s Tax Highe her r Governme nment nt Revenue From taxes on incre reas ased d acco coun untab table le incom

• me

Highe her r governm nment nt expendi ditur ture on infras astr truct uctur ure projects cts Lower Current nt Accoun

• unt

De Deficit & I Inflat atio ion Strong ng Macro croeconom economic ic Base

Sources : CLSA | UDAY: Ujwal DISCOM Assurance Yojana | IDS: Income Disclosure Scheme. The sector(s)/stock(s) mentioned in this presentation do not constitute any recommendation of the same and ICICI Prudential Mutual Fund may or may not have any future position in these sector(s)/stock(s). The asset allocation and investment strategies shall be as per Scheme Information Document of the Scheme, The infor

• rmation
• n herein

n is solely for priva vate circu culation

• n and for readi

ding/un ng/unde dersta standi nding g of register stered d Advisor

• rs/

s/Distri stributors butors and d shoul uld d not be circu culated d to inves vestor

• rs/

s/pr pros

• spe

pective ctive inves vestor

• rs.

s.

Factors Supporting Infrastructure Growth

13

Why Corporate Lending Banks

14

5 10 15 20 25 30 35 40

Credit dit Growt

• wth
• Cr

Credi edit growt

• wth is

is ex expecte pected to to pick up up

• Bottomi

toming ng of

• f NPA Cycle
• Pas

assa sage ge of

• f bankr

bankruptcy ptcy code code, sale of

• f corpo

porat ate asset ets

Source: Edelweiss Research. Data as on 15th June 2017. The sector(s)/stock(s) mentioned in this presentation do not constitute any recommendation of the same and ICICI Prudential Mutual Fund may or may not have any future position in these sector(s)/stock(s). The asset allocation and investment strategies shall be as per Scheme Information Document of the

• Scheme. The infor
• rmation
• n herein

n is solely y for privat vate circu culat ation

• n and for reading/un

ng/unde dersta standi nding ng of regis gistered d Adviso sors/D /Distributors butors and shoul

• uld

d not be circu culated d to inves vestor

• rs/

s/pr pros

• spe

pective ctive inves vestor

• rs.

s.

Credit Growth (%)

Why Pharma Sector?

15

• Last one year has seen 3 clear headwinds for the sector
• Rupee/ dollar appreciation and currency issues in some emerging markets
• Delay in Resolution of Food and Drug Administrator (FDA) issues of a few companies by a few

quarters which has led to lack of approvals

• Pricing pressure in USA
• What potential do we see in the sector?
• Domestic market may continue to grow 12-14%
• Emerging markets can continue to deliver strongly for Indian Companies
• USA can grow with good pipeline for large Indian companies in USA
• Increase in R&D to play out
• FDA issue resolution which will result in approvals and operating leverage play

Source: CLSA, Morgan Stanley, Bloomberg, Motilal Ostwal. The sector(s)/stock(s) mentioned in this presentation do not constitute any recommendation of the same and ICICI Prudential Mutual Fund may or may not have any future position in these sector(s)/stock(s). The asset allocation and investment strategies shall be as per Scheme Information Document of the Scheme. The infor

• rmation
• n herein

n is solely y for priva vate circu culation

• n and for reading/un

ng/unde dersta standi nding ng of register stered d Advisor

• rs/

s/Distri stributors butors and shoul uld d not be circu culat ated d to inves vestor

• rs/

s/pr pros

• spe

pective ve inves vestor

• rs.

s.

16

Pharma can be a good contrarian bet, since it has underperformed the broader market in the last two years

13.2 10.0 10.0 15.0 15.0 20.0 20.0 25.0 25.0 May- ay-12 12 Mar- ar-13 13 Jan Jan-14 14 Nov Nov-14 14 Sep- p-15 15 Jul-16 May- ay-17 17 EV EV/E /EBITD BITDA (x (x) The sector(s)/stock(s) mentioned in this presentation do not constitute any recommendation of the same and ICICI Prudential Mutual Fund may or may not have any future position in these sector(s)/stock(s). The asset allocation and investment strategies shall be as per Scheme Information Document of the Scheme. Past performance may or may not be sustained in future, The infor

• rmation
• n herein

n is solely y for priva vate circu culation

• n and for reading/un

ng/unde dersta standi nding ng of register stered d Advisor

• rs/

s/Distri stributors butors and shoul uld d not be circu culat ated d to investor

• rs/

s/pr pros

• spe

pecti ctive ve inves vestor

• rs.

s.

• 6
• 60
• 4
• 40
• 2
• 20

20 20 40 40 60 60 80 80

• 14.18

4.18

• 5.53

53

Nifty 5 y 50 Nifty P y Pharma rma

Pharma Sector Valuations Still Reasonable (Calendar Year Return %)

17

Organised vs. Unorganised

Strat ategy gy of Orga ganis nised Player yers Strat ategy gy of Un-Or Organi ganised sed Player yers Large Distribution Network Scattered Distribution Network and More Regional Bias

• Superior Quality
• Accounting of Taxes
• Thus, Optimally Priced
• Inferior Quality
• Under Reporting of Tax
• Thus, Sub-Optimally Priced

Branding – Familiarity & Trust Brand Push – Offer higher margins to distribution channel Economies of Scale Diseconomies of scale

GDP P Contri ribu butio ion GDP P Contri ribu butio ion

Source: National Commission for Enterprises in the UnOrganised Sector.

Shift

The information contained herein is solely for private circulation for reading/understanding of registered Advisors/ Distributors and should not be circulated to investors/prospective investors. The sector(s)/stock(s) mentioned in this presentation do not constitute any recommendation of the same and ICICI Prudential Mutual Fund may

• r may not have any future position in these sector(s)/stock(s). The asset allocation and investment strategies shall be as per Scheme Information Document of the Scheme

Unorganised to Organised

18

This can shift consumers away from local manufactures

Benefit Organised Players

Opportuni tunity ty: : This may res esult ult in higher gher topline ne and bottom

• m line

ne growt

• wth for

brande ded compani anies. s.

Source: Edelweiss Securities; GST - Goods & Service Tax

Will Lower tax evasion, increase

• compliance. Facilitate

seamless movement

• f goods.

Consumers to use more cashless medium of transaction.

The information contained herein is solely for private circulation for reading/understanding of registered Advisors/ Distributors and should not be circulated to investors/prospective

• investors. The sector(s)/stock(s) mentioned in this presentation do not constitute any recommendation of the same and ICICI Prudential Mutual Fund may or may not have any future

position in these sector(s)/stock(s). The asset allocation and investment strategies shall be as per Scheme Information Document of the Scheme

GST

Introduction of GST will help create a level-playing field for UnOrganised sector and Organised sector.

Demonetisation

The demonetisation drive is expected to benefit Organised sectors.

Opportunity seen as there is a shift towards organised economy

19

Secto tors s with th high share are of Uno norga rganised sed Bus usines nesses ses Share are of Unorga ganised Bus usinesses esses in n Secto tor  Food Services 90%  Apparel 80%  Plywood 70% 0%  Sanitary ware 60%  Tiles 50%  Footwear 50%  Electric Goods 40%  Pipes 40%  Small Appliances 40%  Paints 30%

Source: Company data, Credit Suisse estimates

The information contained herein is solely for private circulation for reading/understanding of registered Advisors/ Distributors and should not be circulated to investors/prospective investors. The sector(s)/stock(s) mentioned in this presentation do not constitute any recommendation of the same and ICICI Prudential Mutual Fund may or may not have any future position in these sector(s)/stock(s). The asset allocation and investment strategies shall be as per Scheme Information Document of the Scheme

Information Technology

Maturing from “growth” to “value”

20

• Despite growth down to sub-10%, Indian IT firms maintain their competitive advantage in enabling

adoption of large scale disruption at the best value.

Indian IT has a high correlation between P/E and US$ revenue growth

• While FY17 is at most a forgettable year for Indian IT, FY18 does lend optimism riding the improvement in

US economy, particularly US financials, consumer confidence index, retail sales, new home sales, employment etc.

US Economy is expected to improve in CY16 and CY17

Source: Bloomberg. E:Expected nos. The The inf infor

• rma

mation ion con

• ntai

ained herein herein is is sole solely ly fo for priva rivate circ irculat ulatio ion fo for re read ading/understa ing/understanding nding of

• f re

regis gistere ered Adv dvis isors

• rs/ Dist

Distribut ributors

• rs and

and should should not not be be cir ircula ulated ed to to inves investors

• rs/p

/pros rospect pective ive inves investors

• rs. The sector(s)/stock(s) mentioned in this presentation do not

constitute any recommendation of the same and ICICI Prudential Mutual Fund may or may not have any future position in these sector(s)/stock(s). The asset allocation and investment strategies shall be as per Scheme Information Document of the Scheme

Hedging Strategy (Only for Illustration)

21

The above calculation is for illustration purpose only. Actual result may vary.The asset allocation and investment strategies shall be as per Scheme Information Document of the Scheme .The informatio rmation n herein in is sole lely ly for private ate circulatio ulation n and for reading ing/un underst rstand anding ing of regis istered red Adviso isors/Dist rs/Distrib ribut utors rs and should not be circulated ulated to invest stors/ rs/pro rosp spective tive invest stors. rs.

Stock price (NIFTY 50) Strike price Premium Premium/Strike Price Tenure of the product 9800 9800 575

5.87%

3 years

Partic icular lars

Fallin ing g Marke rket Flat Market et Rising g Marke rket

Scenar enario io 1 Scenar enario io 2 Scenar enario io 3 Scenar enario io 4 Scenar enario io 5 Scenar enario io 6 Equity return

• 15% p.a.

Equity return

• 10% p.a.

Equity return 0% p.a. Equity return 10% p.a. Equity return 15% p.a. Equity return 20% p.a. Equity returns (absolute)

• 38.59%
• 27.10%

0.00% 33.10% 52.09% 72.80% Put payoff (absolute) 38.59% 27.10% 0.00% 0.00% 0.00% 0.00% Put cost

• 5.87%
• 5.87%
• 5.87%
• 5.87%
• 5.87%
• 5.87%

Total Absolute Return

• 5.87%
• 5.87%
• 5.87%

27.23% 46.22% 66.93% Value lue of Invest estment ent 94,133 33 94,133 33 94,133 33 1,27,233 ,233 1,46,220 ,220 1,66,933 ,933

• The above table highlights the value of Rs. 1,00,000 invested in this

fund at the time of maturity.

• The put option will be bought at the strike price 9800 by paying

premium of around 6%.

Portf tfoli lio allocatio tion % allocat atio ion Equity holding ~94% Options holding ~6%

Hedging Strategy (Only for Illustration) – Understanding Falling Market

22

The above calculation is for illustration purpose only. Actual result may vary. The asset allocation and investment strategies shall be as per Scheme Information Document of the Scheme. The asset allocation and investment strategies shall be as per Scheme Information Document of the Scheme The informatio rmation n herein in is solely ly for private vate circulatio ulation n and for reading ing/und underst stand anding ing of regist istered Advis isors/D rs/Dist istrib ibuto utors s and should uld not be circulated ulated to to invest stors/ rs/pro rosp spective tive invest stors. rs. Falling lling Mark rket Flat at Mark rket Rising sing Market ket

Particulars Scen enario 1 Scen enario 2 Scen enario 3 Scen enario 4 Scen enario 5 Scen enario 6 Equity return

• 15% p.a.

Equity return

• 10% p.a.

Equity return 0% p.a. Equity return 10% p.a. Equity return 15% p.a. Equity return 20% p.a. Equity returns (absolute)

• 38.59%
• 27.10%

0.00% 33.10% 52.09% 72.80% Put payoff (absolute) 38.59% 27.10% 0.00% 0.00% 0.00% 0.00% Put cost

• 5.87%
• 5.87%
• 5.87%
• 5.87%
• 5.87%
• 5.87%

Total Absolute Return

• 5.87%
• 5.87%
• 5.87%

27.23% 46.22% 66.93%

Value e of Inves estme ment 94,133 33 94,133 33 94,133 33 1,27 27,233 33 1,46 46,220 20 1,66 66,933 33

Partic icular lars

Fallin ing g Marke rket

Equity return

• 15% p.a.

Equity returns (absolute)

• 38.59%

Put payoff (absolute) 38.59% Put cost

• 5.87%

Total Absolute Return

• 5.87%

Value ue of Investment tment 94,13 133

• A put option is an option contract in which the buyer has the right to buy & not the obligation to sell a specific quantity of an

underlying security at specified price(Strike price) within a fixed period of time. The strategy in this particular fund will be used to limit the downside when market falls. If the underlying securities falls, the value of put will increase (all else being equal).

• As shown above when market falls by 15% during the tenure of the fund. The total Payoff by put option is around 38.5% thus

limiting downside.

• If markets continues to fall the value of put option will increase as the price of the underlying index reduces as compare to its

strike price. Thus, the maximum loss that a buyer of a put option can incur is the option premium paid.

Why Invest in ICICI Prudential Value Fund – Series 16?

23

Themes Themes - Inf Infra rastructure, structure, Co Corpor

• rat

ate Lendi ending ng Banks, anks, Co Contr ntrar arian an secto sector - Pha Pharma ma and and Tech echnol nolog

• gy an

and Uno Unorg rganise anised to to Org Organise anised shif shift are are likel likely to to play play out

• ut we

well ll with with two two - three three year years investm investmen ent horizo rizon Help lps s in bottom ttom-up up stock ck selecti ection

• n with

h clear ear three ee year ar view ew Aims s to limit it down wnsid side

The asset allocation and investment strategy of the scheme is subject to the provisions of the Scheme Information Document. The sector(s)/stock(s) mentioned in this presentation do not constitute any recommendation of the same and ICICI Prudential Mutual Fund may or may not have any future position in these sector(s)/stock(s). The infor

• rmation
• n herein

n is solely for priva vate circu culation

• n and for reading/un

ng/unde derstandi standing ng of registe stered d Adviso sors/ s/Distri stributors butors and shoul uld d not be circu culat ated d to investor

• rs/

s/pr pros

• spe

pecti ctive ve inves vestor

• rs.

s.

ICICI Prudential Value Fund – Series 16 Features

24

Priyanka Kahndelwal for investment in ADR/GDR/ Foreign securities. The asset allocation and investment strategy of the scheme is subject to the provisions of the Scheme Information

• Document. The infor
• rmation
• n herein

n is solely y for priva vate circu culation

• n and for reading/un

ng/unde dersta standi nding ng of register stered d Advisor

• rs/

s/Distri stributors butors and d shoul uld d not be circu culat ated d to inves vestor

• rs/

s/pr pros

• spe

pective ve inves vestor

• rs.

s.

Tenure : 1300 days NFO Period : July 24, 2017 to August 7, 2017 MICR cheques : Till the end of business hours on August 7, 2017 RTGS and transfer cheques : Till the end of business hours on August 7, 2017 Switches : Switches from equity schemes – August 7, 2017 till cut off time (specified for switch outs in the source scheme) Switches from other schemes – August 7, 2017 till cut off time (specified for switch outs in the source scheme) Option to be launched : ICICI Prudential Value Fund - Series 16 - Cumulative & Dividend , ICICI Prudential Value Fund - Series 16 - Direct Plan - Cumulative & Dividend Entry / Exit Load : Nil Minimum Application Amount : Rs.5,000/- (plus in multiple of Re.10) Liquidity : To be listed Benchmark : S&P BSE 500 Index Fund Manager :

• S. Naren & Ihab Dalwai*

Mutua ual l Fund investment tments are subject ject to market risks, read all scheme me related docum ument nts carefull lly.

Disclaimer: All figures and data given in the document are dated unless stated otherwise. In the preparation of the material contained in this document, the AMC has used information that is publicly available, including information developed in-house. Some of the material used in the document may have been obtained from members/persons other than the AMC and/or its affiliates and which may have been made available to the AMC and/or to its affiliates. Information gathered and material used in this document is believed to be from reliable sources. The AMC however does not warrant the accuracy, reasonableness and / or completeness of any information. We have included statements / opinions / recommendations in this document, which contain words, or phrases such as “will”, “expect”, “should”, “believe” and similar expressions or variations of such expressions, that are “forward looking statements”. Actual results may differ materially from those suggested by the forward looking statements due to risk or uncertainties associated with our expectations with respect to, but not limited to, exposure to market risks, general economic and political conditions in India and other countries globally, which have an impact on our services and / or investments, the monetary and interest policies of India, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices etc. The AMC (including its affiliates), the Mutual Fund, the trust and any of its officers, directors, personnel and employees, shall not liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of this material in any manner. The recipient alone shall be fully responsible/are liable for any decision taken on this material. The sector(s)/stock(s) mentioned in this presentation do not constitute any recommendation of the same and ICICI Prudential Mutual Fund may or may not have any future position in these sector(s)/stock(s). Past performance may or may not be sustained in the future. The portfolio of the scheme is subject to changes within the provisions of the Scheme Information document

• f the scheme. Please refer to the SID for investment pattern, strategy and risk factors.

Investors are advised to consult their own legal, tax and financial advisors to determine possible tax, legal and other financial implication or consequence of subscribing to the units of ICICI Prudential Mutual Fund.

Disc sclaimer imer

Riskometer & Disclaimer

ICICI Prude dent ntial ial Value Fund – Series 16 is suitable ble for investors rs who are seeking:* :*  Long term wealth creation  A close-ended equity fund that aims to provide capital appreciation by investing in well- diversified portfolio of stocks through fundamental analysis. *Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

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