PIPE Strategy

ICICI Prudential AMC Ltd
PMS Small & Mid Cap
Benchmark
S&P BSE 500 TRI
Inception Date
5 September 2019
Min. Investment
₹50,00,000
AUM (Cr.)
₹7144.08
SIP Available
No
STP Available
No

Investment Strategy

Investment Approach

The investment strategy will focus on companies with market capitalizations below that of the largest constituent stock within the S&P BSE Smallcap Index. Sector allocation will be guided by a top-down methodology, while individual stock selection will employ a bottom-up approach.

Investment Objective

The investment strategy is designed to achieve sustained capital growth and generate returns through a focused allocation to mid-cap and small-cap equities. This approach prioritizes companies exhibiting robust economic moats, those undergoing distinct special situations, or entities positioned to benefit from a cyclical downturn.

Performance Returns

Returns as on 2025-12-31

Trailing Returns

Period Strategy Benchmark Outperformance
1 MONTH 0.51% -0.24% 0.75%
3 MONTHS 2.43% 5.02% -2.59%
6 MONTHS 1.91% 1.63% 0.28%
1 YEAR 0.95% 7.63% -6.68%
2 YEAR 13.11% 11.64% 1.47%
3 YEAR 25.59% 16.40% 9.19%
5 YEAR 28.84% 16.82% 12.02%
SINCE INCEPTION 26.38% 18.24% 8.14%

Calendar Year Performance

Year Return
CY 2025 0.95%
CY 2024 26.74%
CY 2023 54.83%
CY 2022 20.34%
CY 2021 48.86%
CY 2020 20.64%
CY 2019 2.70%

Financial Year Performance

Year Return
FY 26_YTD 15.89%
FY 25 9.39%
FY 24 57.29%
FY 23 10.05%
FY 22 42.90%
FY 21 96.35%
FY 20 -28.70%

Past performance is not indicative of future results. Returns are subject to market risks.

Fund Managers

Anand Shah

CIO – PMS & AIF

Mr. Anand Shah joined IPAMC in February 2021, taking on the responsibility of Head of PMS and AIF Investments. Prior to this, he served as Deputy CEO and Head of Investments at BNP Paribas Asset Management Company, where his purview included the management of both domestic and international investment mandates, encompassing sub-advisory and sales functions. His distinguished career in fund management has been recognized with multiple awards, including 'The CIO of the Year Award 2014-15' presented by Asia Asset Management. Mr. Shah's tenure at BNP Asset Management lasted for approximately ten years, commencing in March 2011. preceding this engagement, he led the equities division at Canara Robeco Asset Management for three years, from March 2008. His earlier career also includes roles as Co-Head of Equities at ICICI Prudential Asset Management and Vice President of Investments at Kotak Mutual Fund, where he served for six years from May 2000 to December 2006. Mr. Shah is an alumnus of the Indian Institute of Management Lucknow, holding a Post Graduate Diploma in Management, and is a Bachelor of Engineering graduate from Regional Engineering College, Surat.

Chockalingam Narayanan

Head Equities – PMS & AIF (Long only)

Mr. Chockalingam commenced his tenure at ICICI Prudential AMC in July 2022. He currently serves as a Senior Fund Manager, overseeing both Portfolio Management Services (PMS) and Alternative Investment Funds (AIF) at IPAMC. With close to twenty years of comprehensive expertise, Mr. Chockalingam possesses a strong background in fund management, investment research, and market analysis. His contributions have been significant in dissecting business fundamentals to generate pertinent and actionable insights, thereby fostering portfolio expansion. He is a recognised authority for providing in-depth macroeconomic analysis, alongside insights into financial markets and Environmental, Social, and Governance (ESG) factors. These elements have consistently formed the bedrock of diverse investment strategies he has developed throughout his career. Prior to his association with IPAMC, Mr. Chockalingam held positions at distinguished institutions including Baroda BNP Paribas Asset Management India Pvt Ltd, Deutsche Equities India Pvt Limited, and Batlivala & Karani Securities. Academically, he holds a Post Graduate Diploma in Management from T A Pai Management Institute, Manipal, and a Bachelor of Commerce from G. R. Damodaran College of Science. Furthermore, he is a certified Financial Risk Manager (FRM) by the Global Association of Risk Professionals, USA.

Portfolio Details

Portfolio Composition

Large Cap
0.00%
Mid Cap
18.78%
Small Cap
78.87%
Cash & Equivalent
2.35%

Top 5 Holdings

  • Sarda Energy and Minerals Ltd 4.61%
  • Usha Martin Ltd 3.87%
  • MedPlus Health Services Ltd 3.73%
  • Jindal Stainless Ltd 3.70%
  • Godawari Power and Ispat Ltd 3.68%

Top 5 Sectors

  • Industrial Products 13.89%
  • Capital Markets 9.82%
  • Textiles & Apparels 9.61%
  • Ferrous Metals 9.01%
  • Retailing 7.77%

Portfolio Characteristics

total number of stocks
0
top 5 stocks percent
19.59%
top 5 sectors percent
50.10%
average market cap
21869.13
portfolio age
6 Yrs, 3 Months
sip
Not Available
stp
Not Available

Fee Structure

Fixed Fee

AMC: 2.5%

Variable Fee

AMC: 1.5%

Hurdle: 10%

Profit Sharing: 15%

Exit Load

Year 1: 3%

Year 2: 2%

Year 3: 1%

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Disclaimer

Returns are as of 2025-12-31. Returns for periods up to one year are not annualized. Returns for periods exceeding one year are annualized. Returns are computed using the Time Weighted Rate of Return (TWRR) methodology and are provided by the respective Asset Management Companies (AMCs). 'ND' denotes 'No Data', and 'NA' denotes 'Not Applicable'. The performance of the respective Benchmark Indices is presented above. Benchmark(s) are as defined in SEBI circular no. SEBI/HO/IMD/IMD-PoD-2/P/CIR/2022/172 dated December 16, 2022, APMI circular no. APMI/2022-23/02 dated March 23, 2023, and Revised Annexure-1.

This page is provided solely for general informational purposes in relation to the strategy and is based on publicly available information. While reasonable care has been taken to ensure accuracy, the information may not reflect the most recent updates.

Nothing on this page constitutes investment, financial, or legal advice. Investment decisions should be made after consulting a qualified advisor and reviewing official scheme documents.

Last Updated: January 2026 · Published by Affluense AI (affluense.ai)