ICICI Prudential Smallcap Fund — Complete Review (History, NAV, CAGR, Expense Ratio)

Updated: 24 Oct 2025

Quick snapshot

• Fund name: ICICI Prudential Smallcap Fund — Growth (Regular / Direct plans)
• Category: Equity — Small Cap
• Inception date: 18 Oct 2007. [oai_citation:0‡Morningstar India](https://www.morningstar.in/mutualfunds/f000000jvr/icici-prudential-smallcap-fund-growth/fund-factsheet.aspx?utm_source=chatgpt.com)
• Latest NAV (Growth): ₹87.88 (as on 24-Oct-2025). [oai_citation:1‡MFOnline](https://www.mfonline.co.in/mf-research/icici-prudential-smallcap-fund-growth?utm_source=chatgpt.com)
• Expense ratio: ~1.78% (reported). [oai_citation:2‡Morningstar India](https://www.morningstar.in/mutualfunds/f000000jvr/icici-prudential-smallcap-fund-growth/fund-factsheet.aspx?utm_source=chatgpt.com)
• Risk: Very High — small-cap equity volatility.

History & inception — how the fund started

ICICI Prudential Smallcap Fund was launched on 18 October 2007 as an open-ended equity scheme focused predominantly on small-cap stocks. Over the years it has been managed by ICICI Prudential AMC and positioned as a long-term wealth creation vehicle for investors willing to take higher volatility in exchange for potentially higher returns. [oai_citation:3‡Morningstar India](https://www.morningstar.in/mutualfunds/f000000jvr/icici-prudential-smallcap-fund-growth/fund-factsheet.aspx?utm_source=chatgpt.com)

Investment objective & strategy

The fund aims for capital appreciation by investing majorly in small-cap companies. The manager typically picks companies with scalable business models, improving growth metrics and attractive valuations — though by nature small-caps carry higher business & market risk.

Historical performance & CAGR (returns)

Below are the headline returns (Growth plan) — update these numbers regularly if you show them on the blog.

NAV movement (recent)

Example recent NAV: ₹87.88 (Growth) — 24 Oct 2025. For historical daily NAVs and a table you can embed a dynamic chart or link to the NAV history page. [oai_citation:8‡Advisorkhoj](https://www.advisorkhoj.com/mutual-funds-research/historical-NAV/ICICI%20Pru%20Small%20Cap%20Gr?utm_source=chatgpt.com)

Expense ratio & fund house data

The fund’s expense ratio is reported around 1.78% (can vary between Direct and Regular plans). Check the latest factsheet for the exact direct plan expense ratio before you publish price-sensitive comparisons. [oai_citation:9‡Morningstar India](https://www.morningstar.in/mutualfunds/f000000jvr/icici-prudential-smallcap-fund-growth/fund-factsheet.aspx?utm_source=chatgpt.com)

Fund management & AUM

Fund house: ICICI Prudential Mutual Fund. The fund has been managed by the AMC team (names and roles listed on fact-sheets) — managers noted in recent sources include Anish Tawakley (and co-managers). AUM and manager details change — always cross-check the monthly factsheet. [oai_citation:10‡Value Research Online](https://www.valueresearchonline.com/funds/5646/icici-prudential-smallcap-fund/?utm_source=chatgpt.com)

Who should invest?

This fund is suitable for investors who: have a high risk appetite, are investing for 7–10+ years, and want concentrated exposure to smaller companies for potential higher returns. Not for short-term parking or low-risk investors.

Pros & Cons

Tax liabilities (for Indian investors)

As an equity mutual fund:

• Short Term Capital Gains (STCG): If units sold within 12 months — taxed at 15%.
• Long Term Capital Gains (LTCG): If units sold after 12 months — gains above ₹1,00,000 in a financial year taxed at 10% without indexation. (Example: ₹1.2L gain → ₹20k taxed at 10% = ₹2k tax.)
• Dividend payouts: Dividends (if chosen) are taxable in the hands of the investor as per their slab; dividend option availability varies.

(Tax rules can change — consult your tax advisor.)

How to invest (links)

Buy options:

• Direct / Online (AMC): ICICI Prudential official scheme page and factsheet. [oai_citation:15‡icicipruamc.com](https://www.icicipruamc.com/mutual-fund/equity-funds/icici-prudential-smallcap-fund/168?utm_source=chatgpt.com)
• Through platforms: Groww, Zerodha Coin, Kuvera, Paytm Money, NJ E-Wealth — compare expense ratio & plan type (Direct vs Regular).
• Offline: ICICI Prudential distributors / branches.

Suggested internal links (for SEO & user flow)

• SIP Calculator — FinancialRelease (embed near the SIP CTA)
• Best Smallcap Funds — Comparison (internal comparison page)
• How to Start a SIP — Step by Step

External source links (recommended citations)

• ICICI Prudential AMC — Scheme page. [oai_citation:16‡icicipruamc.com](https://www.icicipruamc.com/mutual-fund/equity-funds/icici-prudential-smallcap-fund/168?utm_source=chatgpt.com)
• Morningstar factsheet — ICICI Prudential Smallcap Fund. [oai_citation:17‡Morningstar India](https://www.morningstar.in/mutualfunds/f000000jvr/icici-prudential-smallcap-fund-growth/fund-factsheet.aspx?utm_source=chatgpt.com)
• ValueResearch — Scheme page. [oai_citation:18‡Value Research Online](https://www.valueresearchonline.com/funds/5646/icici-prudential-smallcap-fund/?utm_source=chatgpt.com)
• Moneycontrol — NAV & returns. [oai_citation:19‡Moneycontrol](https://www.moneycontrol.com/mutual-funds/nav/icici-prudential-smallcap-fund-retail-plan/MPI243?utm_source=chatgpt.com)

Visuals & image suggestions (for this post)

Recommended images to upload to your WordPress Media Library and insert above/inline:

1. Featured: “icici-smallcap-feature.jpg” — small-cap stocks collage / upward bar chart (alt: “ICICI Smallcap Fund growth illustration”).
2. Fund manager photo: “fund-manager-anish.jpg” — (if publicly available from AMC press kit) (alt: “Fund manager Anish Tawakley”).
3. Performance chart: “icici-smallcap-performance.png” — 5-year NAV chart (alt: “ICICI Smallcap Fund 5-year NAV performance”).
4. Table snapshot: “smallcap-key-metrics.png” — expense ratio, AUM, inception (alt: “ICICI Smallcap key metrics”).

Tip: export the fund’s monthly factsheet chart from the AMC site or Morningstar and upload as ‘performance’ image for authenticity.

Call to action (CTA)

Quick checklist before you invest

• Are you comfortable with high volatility and a long horizon (≥7–10 years)?
• Prefer SIP to average out volatility rather than lump sum at market peaks.
• Choose Direct plan if you want lower expense ratio and invest via AMC or platforms that support direct plans.
• Check the latest factsheet for manager changes, expense ratio & AUM. [oai_citation:20‡icicipruamc.com](https://www.icicipruamc.com/mutual-fund/equity-funds/icici-prudential-smallcap-fund/168?utm_source=chatgpt.com)

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Past performance is not indicative of future returns. Consult a certified financial advisor or tax consultant before investing.