Press Release
NFO Period: August 26, 2026 – September 09, 2026
Highlights:
Plans for goals for each stage of life
Follows a glide path strategy that progressively lowers equity allocation and raises debt allocation as each scheme nears its maturity year
Can invest across equity and equity-related instruments, debt and money market instruments, and units of Gold & Silver ETFs/ETCDs and InvITs
Designed for investors who want a hassle-free, goal-aligned route to investing without needing to actively rebalance their portfolio w.r.t Asset Allocation.
Mumbai, August 26, 2026: ICICI Prudential Mutual Fund has announced the launch of ICICI Prudential Life Cycle Fund 2031, ICICI Prudential Life Cycle Fund 2036 and ICICI Prudential Life Cycle Fund 2041, which are three open-ended schemes built around a pre-determined maturity and a glide path strategy for goal-based investing. The New Fund Offer (NFO) for all three schemes opens on August 26, 2026 and closes on September 09, 2026.
What Are ICICI Prudential Life Cycle Funds?
ICICI Prudential Life Cycle Funds are open-ended schemes that combine a diversified, multi-asset portfolio with a pre-determined glide path. In the initial years of each scheme, equity allocation is kept relatively higher to benefit from potential long-term growth. As the scheme approaches its maturity year, equity exposure is reduced in a phased manner and debt allocation is correspondingly increased, with the aim of providing relative stability closer to the investor's goal date.
Each scheme may invest across equity and equity-related securities, debt and money market instruments, and units of Gold & Silver ETFs, Gold & Silver Exchange Traded Commodity Derivatives (ETCDs), and Infrastructure Investment Trusts (InvITs). Equity allocation may additionally include exposure to equity arbitrage, subject to the total equity and equity-related exposure remaining within scheme limits.
Commenting on the launch, S Naren, ED & CIO, ICICI Prudential Mutual Fund said, “The Lifecycle Fund brings together the long-term mindset we have developed through our experience with closed-end funds, and our expertise in managing hybrid funds. With 5, 10 and 15-year horizon offerings, investors can align the fund with a specific financial goal. The key remains that the investment approach evolves as the investor moves closer to the goal. The longer time horizon allows for greater participation in equity, while the allocation can progressively become more conservative as the scheme approaches maturity. At the same time, being an open-ended scheme, it gives investors the flexibility to enter or exit without being constrained by the maturity date. We believe this combination of a defined goal, an evolving asset allocation and flexibility can make the Lifecycle Fund a meaningful addition to an investor's portfolio for those with a known financial requirement in the future.”
Investment Strategy Framework
ICICI Prudential Life Cycle Fund 2031 — Glide Path (Maturity: 5 years)
Years to Maturity
Equity & Equity-related
Debt & Money Market
Gold/Silver ETFs/ETCDs/InvITs
3–5 years
35%–50%
25%–50%
0%–10%
1–3 years
20%–35%
25%–65%
0%–10%
<1 year
5%–20%
25%–65%
0%–10%
The asset allocation and investment strategy will be as per the Scheme Information Document
ICICI Prudential Life Cycle Fund 2036 — Glide Path (Maturity: 10 years)
Years to Maturity
Equity & Equity-related
Debt & Money Market
Gold/Silver ETFs/ETCDs/InvITs
5–10 years
50%–65%
5%–25%
0%–10%
3–5 years
35%–50%
25%–50%
0%–10%
1–3 years
20%–35%
25%–65%
0%–10%
<1 year
5%–20%
25%–65%
0%–10%
The asset allocation and investment strategy will be as per the Scheme Information Document
ICICI Prudential Life Cycle Fund 2041 — Glide Path (Maturity: 15 years)
Years to Maturity
Equity & Equity-related
Debt & Money Market
Gold/Silver ETFs/ETCDs/InvITs
10–15 years
65%–80%
5%–25%
0%–10%
5–10 years
50%–65%
5%–25%
0%–10%
3–5 years
35%–50%
25%–50%
0%–10%
1–3 years
20%–35%
25%–65%
0%–10%
<1 year
5%–20%
25%–65%
0%–10%
The asset allocation and investment strategy will be as per the Scheme Information Document.
Why Consider a Life Cycle Fund?
Financial goals evolve at each stage of life, from paying off an education loan or funding an overseas vacation in the early years, to buying a house or covering wedding expenses in the middle years, to planning for a child's education and retirement in the long term. Investors pursuing these goals through equities alone must periodically decide when to reduce risk as a goal date nears. This decision requires ongoing monitoring and is often influenced by behavioural biases such as loss aversion, herd mentality and recency bias, particularly during periods of market stress.
InvITs: Infrastructure Investment Trusts, ETCDs: Exchange Traded Commodity Derivatives, ETF: Exchange Traded Fund.
Historical data shows that leadership across asset classes rotates significantly from year to year: equities, debt and gold have each led returns in different calendar years between 2012 and 2025, while a hybrid blend of equity, debt and gold has generally produced a comparatively steadier pattern of returns across the same period. This underpins the case for a diversified, rules-based allocation.
A Rules-Based Route to Goal-Based Investing
Life Cycle Funds are designed to bridge the gap between the higher risk appetite investors typically have at the start of an investment journey and the preference for relative stability as a goal date approaches. Instead of requiring investors to actively decide when to trim equity exposure and add to debt allocation, the glide path shifts the mix according to the asset allocation as per the scheme's maturity year, with security selection within each asset class managed by the fund's investment team based on business fundamentals and macroeconomic developments. Because reallocation between equity, debt and other asset classes takes place within the scheme, switches between asset classes do not create an additional tax liability for the investor.
The above is for illustration purpose only.
Benefit from Different Asset Classes under one roof
The Scheme offers investors the opportunity to benefit from investment across equity and equity-related instruments, debt instruments, and units of Gold & Silver ETFs, Gold & Silver ETCDs, and InvITs.
InvITs: Infrastructure Investment Trusts. The portfolio of the scheme is subject to changes within the provisions of the Scheme Information Document of the Scheme. The asset allocation and investment strategy will be as per the Scheme Information Document.
Investment Approach and Strategy
Equity allocation combines a top-down assessment of macroeconomic developments with a bottom-up approach to identifying companies with above-average profitability and sustainable competitive advantages, evaluated on market share gains, earnings visibility, economic moat, balance-sheet strength and valuation comfort. The Scheme has the flexibility to invest across large-cap, mid-cap and small-cap companies depending on prevailing economic conditions and relative attractiveness.
Debt allocation is guided by internal macro frameworks on duration management, researched investments in accrual assets, and a mix of duration and accrual strategies based on risk-reward assessment and the interest-rate view. Exposure to Gold & Silver ETFs, ETCDs and InvITs is intended to add diversification and, in the case of InvITs, an opportunity to enhance portfolio yield*.
*The asset allocation and investment strategy will be as per the Scheme Information Document. The portfolio of the scheme is subject to changes within the provisions of the Scheme Information Document of the Scheme.
Scheme Details
Particulars
Life Cycle Fund 2031
Life Cycle Fund 2036
Life Cycle Fund 2041
Type of Scheme
An open-ended fund with attributes of pre-determined maturity and glide path for goal-based investing
An open-ended fund with attributes of pre-determined maturity and glide path for goal-based investing
An open-ended fund with attributes of pre-determined maturity and glide path for goal-based investing
Plans
Direct Plan; Regular Plan
Direct Plan; Regular Plan
Direct Plan; Regular Plan
Option
Growth
Growth
Growth
Minimum Application Amount
₹100 (plus multiples of ₹1)
₹100 (plus multiples of ₹1)
₹100 (plus multiples of ₹1)
Minimum Additional Application
₹100 (plus multiples of ₹1)
₹100 (plus multiples of ₹1)
₹100 (plus multiples of ₹1)
Minimum Redemption Amount
Any amount
Any amount
Any amount
Entry Load
Not applicable
Not applicable
Not applicable
Exit Load
If redeemed before 1 year - 3%
If redeemed between 1 to 2 years - 2%
If redeemed between 2 to 3 years - 1%
If redeemed post 3 years - Nil
If redeemed before 1 year - 3%
If redeemed between 1 to 2 years - 2%
If redeemed between 2 to 3 years - 1%
If redeemed post 3 years – Nil
If redeemed before 1 year - 3%
If redeemed between 1 to 2 years - 2%
If redeemed between 2 to 3 years - 1%
If redeemed post 3 years - Nil
Benchmark Index
Nifty 200 TRI (50%) + Nifty Composite Debt Index (45%) + Domestic Price of Gold (3%) + Domestic Price of Silver (2%)
Nifty 200 TRI (65%) + Nifty Composite Debt Index (30%) + Domestic Price of Gold (3%) + Domestic Price of Silver (2%)
Nifty 200 TRI (65%) + Nifty Composite Debt Index (30%) + Domestic Price of Gold (3%) + Domestic Price of Silver (2%)
SIP / SWP / STP
STP available
SIP / SWP / STP available
SIP / SWP / STP available
Fund Managers
Aatur Shah, Manish Banthia, Rohit Lakhotia, Gaurav Chikane
Manasvi Shah, Manish Banthia, Rohit Lakhotia, Gaurav Chikane
Divya Jain, Manish Banthia, Rohit Lakhotia, Gaurav Chikane
Taxation
STCG (≤12 months): 20%; LTCG (>12 months): 12.5%
STCG (≤12 months): 20%; LTCG (>12 months): 12.5%
STCG (≤12 months): 20%; LTCG (>12 months): 12.5%
Consult your tax advisor for further details on taxation and applicability based on your tax structure and regime.
For more information, please contact:
Adil Bakhshi, Head - PR & Corporate Communication
Email: pr@icicipruamc.com
It may be noted that the scheme risk-o-meter specified above is based on the internal assessment of the scheme characteristics and may vary post NFO when the actual investments are made. The same shall be updated on ongoing basis in accordance with paragraph 6.16 of the Master Circular for Mutual Funds dated March 20, 2026 (the Master Circular).
The asset allocation and investment strategy will be as per the scheme's SID.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
