Icici Prudential Asset Management Company Ltd. · NSE:ICICIAMC
Icici Prudential Asset Management — Debt Investor Presentation (November 2025)
22 slides from Icici Prudential Asset Management's debt investor presentation, Nov 25, 2025
Slide 1: The information contained herein is solely for private circulation for reading/understanding of registered Advisors/D…
The information contained herein is solely for private circulation for reading/understanding of registered Advisors/Distributors of ICICI Prudential Asset Management Company and should not be circulated to investors/prospective investors
Slide 2: What is a Medium Duration Fund?
What is a Medium Duration Fund? Medium Duration Fund as per SEBI - Scheme Categorisation This category of the schemes has to mandatorily maintain Macaulay duration# between 3 Years and 4 Years under normal circumstances*. Asset allocation of ICICI Prudential Medium Term Bond Fund^ Particulars Alloca
Slide 3: Importance of Risk Adjusted Returns in Medium Duration Fund
Importance of Risk Adjusted Returns in Medium Duration Fund Credit Selection Credit Process Concentration Management Management Liquidity Management Duration Management Risk Adjusted Returns 3
Slide 4: Why ICICI Prudential Medium Term Bond Fund?
Why ICICI Prudential Medium Term Bond Fund? Credit Better Risk Investment Investment Selection Adjusted Philosophy Process Process Returns 4
Slide 5: Investment Philosophy: Safety, Liquidity, Returns
Investment Philosophy 01 Safety The investment team seeks to achieve Safety, Liquidity and Returns (SLR) in order of priority Liquidity 02 for managing variety of our fixed income schemes. 03 Returns 5
Slide 6: Focus on Security Selection
Focus on Security Selection Past track record of the company Asset Quality Cash Flows Assessment of Management Credit Due Diligence Risk & Business Risk COMPANY SHORTLISTED FOR INVESTMENT 6
Slide 7: Credit Selection
Credit Selection Process TARGET LIST FILTERS • Independent research team • Decision making is not • Internal Credit Analysis concentrated to one person • External credit rating • Focus not just on credit • Independent and liquidity risk but evaluation by Risk also on diversification team CREDIT SELE
Slide 8: Credit Selection Process – Our Approach
Credit Selection Process – Our Approach • Interest Rate Call • Deal Sourcing Fund Manager Step 1: Portfolio Construction • Background check • Risk based pricing • Liquidity management • Credit evaluation • Structuring covenants • Deviation review Step 2: Credit Evaluation Credit Analyst • AMC level
Slide 9: Credit Selection Process – Test Match Way
Credit Selection Process – Test Match Way “Our approach is similar to how test cricket is played, selecting only those instruments which pass through our credit evaluation filters and leaving those where the risk reward is not favourable “ 9
Slide 10: Better Risk Adjusted Returns – Managing Various Risks
Better Risk Adjusted Returns – Managing Various Risks 44* different securities with 41.81% in AAA & equivalent$ average exposure of rated debt instruments around 1.56% to each individual issuer Liquidity Concentration Management Management Credit Duration Management Management The portfolio is well
Slide 11: Better Risk Adjusted Returns – Portfolio Construction: Liquidity Management
Better Risk Adjusted Returns – Portfolio Construction Liquidity Management – by carefully analysing the liability side of the portfolio with the below mentioned filters Concentrated AUM Scheme AUM contributed by Top 5 Channel partners & Top 5 Investors Time Sensitive AUM % of AUM outside exit load P
Slide 12: Portfolio Construction: AAA & Equivalent Exposure
Better Risk Adjusted Returns – Portfolio Construction Having adequate exposure to quality papers at all point of time to cater to redemption AAA & Equivalent* (% to AUM) 70.0% 60.0% 50.0% 42% 40.0% 30.0% 20.0% 10.0% 0.0% Nov-23 Nov-22 Nov-24 May-23 May-25 Aug-23 May-24 Aug-25 Aug-24 Jan-23 Jan-25 Ja
Slide 13: Portfolio Construction: Exposure across credit ratings
Better Risk Adjusted Returns – Portfolio Construction Credit Management – Exposure across various credit ratings Portfolio Quality (% to AUM) AAA and Equivalent 41.8% AA and equivalent 58.2% AAA and Equivalent AA and equivalent Data as of October 31, 2025. *AAA & Equivalent includes TREPS & Net Curr
Slide 14: Portfolio Construction: Duration Management
Better Risk Adjusted Returns – Portfolio Construction Duration Management – diversified portfolio across various maturity buckets % to AUM Laddered Approach (Investment Above 15 years 9.42% across maturity buckets) : 10-15 years 3.21% • Not overexposed to any one 5-10 years 14.24% segment of yield c
Slide 15: Better Risk Adjusted Returns – Asset & Liability Focus
Better Risk Adjusted Returns – Asset & Liability Focus Assets (Portfolio Construction) Liabilities (Investor Concentration & Trend) Avoidance of Concentration Risk Maximum investment limit per investor is Rs.100crores* Having adequate mix of highly liquid securities to meet any Independent Credit ev
Slide 16: Duration Management – mitigating interest rate volatility
Better Risk Adjusted Returns – Portfolio Construction Duration Management – mitigating interest rate volatility 11.0% 4.0 3.5 10.0% 3.0 Modified duration 9.0% 2.5 Bond Yields Rising interest rate 8.0% phase– Duration 2.0 decreased 1.5 7.0% Falling interest 1.0 6.0% rate phase– Duration Increased 0.5
Slide 17: Summary of our Credit Selection Process
Summary of our Credit Selection Process Credit Risk weighted Consistency Returns Risk Concentration – Sector/ Issuer Pure Play Credit Liquidity Duration Self-Origination CREDIT Support Segregation of Risk Rating Migration Alpha MANAGEMENT Structure Signing Authority Duration
Slide 18: Quantitative Indicators
Quantitative Indicators Scheme Statistics Closing AUM Rs. 5,756.89 crs Average Maturity 5.96 years Modified Duration 3.33 years Macaulay Duration 3.49 years Yield To Maturity (YTM) 7.85% Data as of October 31, 2025; The portfolio of the scheme is subject to changes within the provisions of the Schem
Slide 19: Key Takeaways
Key Takeaways • The spread assets (non-AAA Corporate Bond space) mostly provide better carry and margin of safety • We expect accruals to form a significant component of the return for bond investors, while returns from capital appreciation may take a back seat • We continue to focus on risk-adjuste
Slide 20: Scheme Features
Scheme Features An open ended medium term debt scheme investing in instruments such that the Macaulay duration of the Type of Scheme portfolio is between 3 Years and 4 Years. The Macaulay duration of the portfolio is 1 Year to 4 years under anticipated adverse situation. A relatively high interest r
Slide 21: Riskometer
Riskometer Scheme Riskometer ICICI Prudential Medium Term Bond Fund is suitable for investors who are seeking*: Medium term savings A debt scheme that invests in debt and money market instruments with a view to maximize income while maintaining optimum balance of yield, safety and liquidity *Inv
Slide 22: Riskometer
Riskometer Mutual Fund investments are subject to market risks, read all scheme related documents carefully. All figures and other data given in this document are dated as on October 31, 2025 unless otherwise mentioned The same may or may not be relevant at a future date. The information shall not b
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