Not just any shares but also mutual funds are leaving no stone unturned in making investors millionaires. If you continue investing in mutual funds for a long time, it can give you many times the benefits compared to other assets. One such fund has emerged which has made investors millionaires. This fund has increased the value of investment of Rs 10 lakh to more than Rs 7 crore. Let us also tell you which mutual fund is this, which has left no stone unturned in making investors millionaires and has become a money printing machine for the investors.
This fund made a millionaire
ICICI Prudential Multi Asset Fund, one of the largest multi asset allocation funds in the country, has left no stone unturned in making investors millionaires. According to the data, if an investor had invested Rs 10 lakh in ICICI Prudential Multi Asset Fund 22 years ago, then today its value has become Rs 7.26 crore. According to the data compiled by Arthalabh, during the same period the same amount in its benchmark i.e. Nifty 200 TRI was only Rs 3.36 crore. 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 compounded annually till September 30 this year. The return of the same investment in the benchmark Nifty 200 TRI has been only 17.39 percent.
This much benefit from SIP
If we talk about SIP, here also this fund has given good returns to the investors. If the investor had invested Rs 10,000 every month in this fund, then its value would have increased to Rs 2.9 crore in 22 years. Whereas the actual investment is only Rs 26.4 lakh. This means that the fund has given returns to investors at a CAGR of 18.37 percent. In the benchmark of the scheme, this same investment has given annual return at the rate of 14.68 percent. 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.
What are the experts saying?
Nimesh Shah, MD & CEO, ICICI Prudential AMC, says the fund’s wealth creation journey is a strong testament to the power of disciplined asset allocation across different asset classes. This approach has benefited our investors with profitable investment results over the long term. At ICICI Prudential Mutual Fund, we rely on the expertise of a dedicated team comprising fund managers across equity, debt and commodity. 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. In this dynamic environment, spreading your investments across different asset classes is an effective way to capitalize on unique opportunities.