ABRIDGED ANNUAL REPORT FOR F. Y. 2014-15

ABRIDGED ANNUAL REPORT FOR F. Y. 2014-15

ICICI Prudential Asset ManagementCompany Limited

Ms. Chanda Kochhar Nominee Director – ICICI Bank Ltd.

Mr. Barry Lee Stowe Nominee Director – Prudential plc

Mr. N. S. Kannan Nominee Director – ICICI Bank Ltd.

Mr. Vijay Thacker Independent Director

Mr. C. R. Muralidharan Independent Director

Mr. M. K. SharmaIndependent Director (Appointed with effect from 15.04.2014)

Mr. Suresh Kumar Independent Director

Mr. Nimesh Shah Managing Director

ICICI Prudential Trust LimitedMr. M. N. Gopinath Independent Director (Chairman)

Mr. Radhakrishnan Nair Independent Director(Appointed with effect from 05.07.2015)

Mr. Vinod Dhall Independent Director

Mr. Keki Bomi Dadiseth Nominee Director – Prudential plc

Mr. Sandeep Batra Nominee Director – ICICI Bank Ltd.

Mr. M. S. Parthasarathy Independent Director (Resigned with effect from 30.04.2015)

• ICICI Prudential Balanced Fund

• ICICI Prudential Child Care Plan-Study Plan

• ICICI Prudential Equity Income Fund

•

ICICI Prudential Regular Income Fund (Income is not assured and is subject to availability of distributable surplus) (formerly known as ICICI Prudential MIP 5 Fund (Monthly income is not assured and is subject to the availability of distributable surplus)

• ICICI Prudential MIP 25 (Monthly income is not assured and is subject to availability of distributable surplus)

• ICICI Prudential Monthly Income Plan (Monthly income is not assured and is subject to availability of distributable surplus)

Sponsors: ICICI Bank Limited Regd. Office: Landmark, Race Course Circle, Vadodara 390 007, India; and

Prudential plc, Laurence Pountney Hill, London EC4ROHH, UK.

Investment Manager: ICICI Prudential Asset Management Company Limited Corporate Identity Number: U99999DL1993PLC054135

Corporate Office: 3rd Floor, Hallmark Business Plaza, Sant Dyaneshwar Marg, Bandra (East), Mumbai - 400 051, Tel: (022) 26428000, Fax: (022) 26554165. Website : www.icicipruamc.com, Email id : [email protected]

Central Service Office: 2nd Floor, Block B-2, Nirlon Knowledge Park, Western Express Highway, Goregaon (East), Mumbai - 400 063. Tel.: 022-26852000, Fax No.: 022-2686 8313.

Registered Office: 12th Floor, Narain Manzil, 23 Barakhamba Road, New Delhi 110 001.

Trustee: ICICI Prudential Trust Limited

Corporate Identity Number: U74899DL1993PLC054134 Registered Office: 12th Floor, Narain Manzil, 23 Barakhamba Road, New Delhi 110 001.

Registrars: Computer Age Management Services Pvt. Ltd. (CAMS)

Registered Office: New No 10. Old No. 178, Opp. to Hotel Palm Grove, MGR Salai (K.H.Road), Chennai - 600 034

2

INDEPENDENT AUDITORS’ REPORT

To the Trustees of ICICI Prudential Mutual Fund

Report on the Financial Statements

We have audited the accompanying financial statements of the schemes of ICICI Prudential Mutual Fund - ICICI Prudential Balanced Fund, ICICI Prudential Equity Income Fund, ICICI Prudential MIP 25, ICICI Prudential Monthly Income Plan, ICICI Prudential Regular Income Fund, ICICI Prudential Child Care Plan-Study Plan (collectively “the Schemes”), which comprise the balance sheets as at March 31, 2015, the revenue accounts and the cash flow statements for the year/period then ended, and a summary of significant accounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

Management of ICICI Prudential Asset Management Company Limited, the schemes’ asset manager, is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Schemes in accordance with accounting principles generally accepted in India, including the accounting policies and standards specified in the Ninth Schedule to the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 (‘the SEBI Regulations’). This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal controls relevant to the preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the internal controls. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the financial statements give the information required by the SEBI Regulations in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

(a) in the case of the balance sheets, of the state of affairs of the respective Schemes as at March 31, 2015

(b) in the case of the revenue accounts, of the surplus/deficit as applicable of the respective Schemes, for the year/period ended on that date; and

(c) in the case of the cash flow statements, of the cash flows of the respective Schemes for the year/period ended on that date.

Report on Other Legal and Regulatory Requirements

1. We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purposes of our audit.

2. The balance sheets, revenue accounts and cash flow statements dealt with by this report are in agreement with the books of account.

3. In our opinion, the balance sheets and revenue accounts dealt with by this report have been prepared in conformity with the accounting policies and standards specified in the Ninth Schedule to the SEBI Regulations.

4. In our opinion, and on the basis of information and explanations given to us, the methods used to value non traded securities as at March 31, 2015 are in accordance with the SEBI Regulations and other guidelines issued by the Securities and Exchange Board of India, as applicable, and approved by the Board of Directors of ICICI Prudential Trust Limited, and are fair and reasonable.

For S.R. Batliboi & Co. LLP Chartered Accountants ICAI Firm Registration Number: 301003E

Sd/- per Viren H. Mehta Partner Membership Number: 48749

Place: Mumbai

Date: July 28, 2015

3

TRUSTEE’S REPORT BY

ICICI PRUDENTIAL TRUST LIMITED

Dear Unitholder,

We have pleasure in presenting the 22nd Annual Report of the Schemes of ICICI Prudential Mutual Fund (“the Mutual Fund” or “the Fund”) for the year ended March 31, 2015, along with the audited financial statements of the Schemes.

I. SCHEME PERFORMANCE, FUTURE OUTLOOK AND OPERATIONS OF THE SCHEMES

A. Performance of the Schemes and Investment Folios

1. Performance of the Schemes

ICICI Prudential Trust Limited (“the Company/Trustee”) is acting as the Trustee to all the Schemes/Plans of the Fund. The net asset values (NAVs) and other pertinent details of the various Schemes are given below:

Scheme Name Date of Allotment

Quarterly AAUM for the period

ended March 31, 2015 (Rs. in lakh)

Quarterly AAUM for the period

ended March 31, 2014 (Rs. in lakh)

Net Asset Value per unit at March 31, 2015 (Rs.)

Returns CategoryLast 1 year

returnSince inception

returns

ICICI Prudential Child Care Plan (Study Plan)

31-Aug-01 5,407.00 3,804.25 53.34 31.31% 13.11% Open Ended Debt Fund

Crisil MIP Blended Index 16.45% @@ICICI Prudential Equity Income Fund

05-Dec-14 45,639.00 - 10.24 ** 2.40% Open Ended Equity Fund

30% CNX Nifty + 40% CRISIL Liquid Fund Index + 30% CRISIL Short Term Bond Fund Index

** 1.88%

ICICI Prudential Monthly Income Plan

10-Nov-00 35,016.00 39,272.72 38.60 19.82% 9.84% Open Ended Debt Fund

Crisil MIP Blended Index 16.45% @@ICICI Prudential Balanced Fund

03-Nov-99 1,69,930.00 63,990.92 91.73 38.61% 15.46% Open Ended Balanced Fund

CRISIL Balanced Fund Index 22.53% @@ICICI Prudential MIP 25 30-Mar-04 1,16,889.00 67,502.96 30.63 23.24% 10.70% Open Ended

Debt FundCrisil MIP Blended Index 16.45% 7.95%ICICI Prudential Regular Income Fund

03-May-11 2,609.00 2,209.81 13.74 14.85% 8.47% Open Ended Debt Fund

Crisil MIP Blended Index 16.45% 9.56%

@@ As these Schemes were launched before the launch of the appropriate benchmark index, benchmark returns since inception are not provided.

** Since these scheme(s)/ plan(s) have not completed one year from the allotment, one year returns are not calculated. Since inception returns for schemes which have not completed one year from the date of allotment are shown on an absolute basis.

Past performance may or may not be sustained in the future. NAV of growth option is considered for computation of returns without considering load. Returns are calculated on the basis of CAGR. For computation of since inception returns the allotment NAV has been taken as Rs.10.

Performance figures have been computed based on the last declared NAV.

NAV per unit and returns are pertaining to Regular Plan - Growth Option, wherever applicable.

2. Investment Folios

The total number of live folios as at March 31, 2015 were 33.60 lakh.

4

B. Market Review and Outlook

Market Review FY 151

Global Economy:

The International Monetary Fund (IMF) said global economic growth prospects remain uneven with developed countries witnessing some improvement and developing countries showing decelerating growth. The IMF projects global economic growth at 3.5% in the calendar year 20152.

Uncertainty over interest rate hike by the US Federal Reserve continues because of sluggish US growth and weaker than expected improvement in job sector.

In the Eurozone, stimulus measures announced recently to boost the flagging economy is expected to help matters. In an update, European Central Bank (ECB) President Mr. Mario Draghi said the stimulus program is proceeding smoothly and helping a gradual recovery.Elsewhere, Fitch downgraded Japan by a notch to ‘A’ after the government failed to take steps in the budget to offset delay in sales tax increase.

Indian economy:

The economy is expected to grow 7.4% in FY15. The inflationary pressures have receded, since last one year and both the retail and wholesale inflation has come down significantly. Economy is slowly coming out of the twin problem of high inflation and low growth with both these factors showing signs of improvement.

The external indicators too have improved with Current Account Deficit likely to be below 2% in FY15, which is a sharp improvement from the levels seen in 2013. Fiscal deficit is also improving and the government has remained committed to bring it down further to 3% levels by FY18.

Indian equity market:

Indian equity market continued to rise in FY 15 on the hope of economic revival and enthusiasm about new government unleashing economic reforms over the next 5 years. The clear mandate to the government after a long time has increased hopes of a turnaround in the economy.

Indian debt market:

Reserve Bank of India (RBI) started its interest rate cut cycle in January 2015 and embarked a start for downward trend in interest rates. Debt market performed well with yields across maturities dropping sharply from the levels of over 9% seen one year back.

In the Union budget for FY16, Finance Minister Mr. Arun Jaitley proposed grossmarket borrowings at Rs. 6.00 lakh crore and net market borrowings at Rs. 4.56 lakh crore. The Government is planning to establish a ‘Public Debt Management Agency’ for Government borrowings that is expected to facilitate better planning and management of domestic and foreign market borrowings. The Government announced the borrowing calendar for the first half of FY16, wherein it pegged the borrowing for the first half of the fiscal year at Rs. 3.60 lakh crore. Net borrowing, which excludes repayments, would be Rs. 2.25 lakh crore. The government also plans to raise Rs. 5,000-8,000 crore through 40- year bonds in FY 16.

Gold review:

Indian gold prices closed the year at Rs. 26,250 per 10 grams on March 31, 2015 compared with Rs. 29,770 per 10 grams on March 31, 2014 on the National Commodity and Derivatives Exchange (NCDEX) weighed by subdued demand from jewellers amid weak global trend. Gold prices continue to come down on strengthening on US dollar and increase in risk appetite of investors across the world.

So how is FY16 shaping up?

Economic outlook

The economy is painting a mixed picture at this point in time. While investments, credit growth, industrial growth and capacity utilization still remain low, GDP growth as indicated by the latest number for Jan-Mar 2015 (Q4 2015) provides immediate relief. The new Government has completed its 1 year term which was full of legislative and decisive action on the ground. Over the past few quarters markets posted good returns on the hopes that earnings will revive. However, in line with our expectations, corporate earnings have not really picked up owing to poor demand in the economy and lack of new investments by the corporates. Recently announced earnings for Q4 2015 have been muted and are expected to be so at least for the next 2 quarters. Subdued corporate earnings conjointly with volatility in crude oil prices and International developments, especially Federal Reserve’s decision to hike interest rates, can result in further volatility in equity markets in the near term.

1 FY represents a financial year from April 1 to March 31 of the following year. FY 15 represents the financial year ended in 2015. FY 16 represents financial year ended in 2016.

2 Source: CRISIL.

5

Key Statistics of FY 15

Domestic Indices31-Mar-15 31-Mar-14 % change

CNX Nifty Index 8,491 6,704 26.66S&P BSE MID CAP 10,616 7,083 49.88S&P BSE Sensex 27,957 22,386 24.89S&P BSE SMALL CAP 11,260 7,072 59.22

Source: BSE, NSE

International Indices31-Mar-15 31-Mar-14 % change

DJIA 17,776 16,458 8.01FTSE 6,773 6,598 2.65HangSeng 24,901 22,151 12.41Nasdaq 4,901 4,199 16.72Nikkei 19,207 14,828 29.53SSE Composite Index 3,748 2,033 84.35Strait Times 3,447 3,189 8.09

Source: Reuters, ICRA

Currency Movement Commodity Price Movement

31-Mar-15 31-Mar-14 % change 31-Mar-15 31-Mar-14 % change

INR/USD 62.49 59.91 -4.31 Brent ($/bbl) 55.11 107.76 -48.86

INR/GBP 92.46 99.85 7.40 Gold ($/ounce) 1187 1291.75 -8.11

INR/EUR 67.51 82.58 18.25 Silver ($/ounce) 17.13 19.97 -14.22

INR/YEN 52.11 58.83 11.42 Source: NCDEX, Bloomberg, London Bullion Market Association (LBMA), Crisil

Source: RBI, Crisil

Fixed Income 31-Mar-15 31-Mar-14 % change Institutional Flow as on March 31, 2015 (Equity)Call Rate 9.00% 10.50% -14.29 Pur (` Cr.) Sales (` Cr.) Net (` Cr.) YTD (` Cr.)91 day T-Bill 7.94% 8.60% -7.67 FII Flows 4022 3744 278 35918364 Days T-Bill 7.72% 8.80% -12.27 MF Flows 1503 868 635 9129CBLO 9.26% 11.28% -17.91 Source: SEBI.Repo 7.50% 8.00% -6.25 Sectoral Performance (YOY %)Reverse Repo 6.50% 7.00% -7.1410Yr G Sec 7.74% 8.80% -12.051 Yr CD 8.20% 9.06% -9.49G Sec Volume (`bln) 279.80 122.9 127.66US 10 Yr Bond 1.93% 2.72% -29.04

Source: RBI, Crisil

Data source: Crisil

Equity market outlook:

On equities, a trend started in August 2013, which made equities the most favoured asset class. We believe this trend would continue. There is potential left in equities and the trend is unlikely to peak out until Industrial Production is in double digits, fiscal deficit is very low and credit growth is high.

After a long time, large cap stocks are trading at a discount to midcap stocks. We believe that large cap stocks may fare better than midcap stocks for investments with 3 years horizon and will potentially outperform midcap stocks.

6

We continue to remain optimistic on equities over the long term amidst improving macros, lower commodity prices, falling interest rates, benign inflation and proactive Government policies to revive growth. The next quarterly results for September end may be subdued and may offer attractive entry point for investments, and hence, we have a positive outlook for investment in equities systematically over the next 6 months.

Debt market outlook:

We believe that the next financial year too will be a fertile year for financial assets. Particularly, the fixed income market has potential to outperform all other asset classes and is poised to deliver good returns. India is a large beneficiary of lower commodity prices and the rapid disinflationary pressures worldwide has allowed the Reserve Bank of India (RBI) to start the rate cut cycle. This year we could see more rate cuts reflecting the fact that inflation has come down in India and Current Account balance is set to be within comfortable levels.

The RBI has made it adequately clear that its rate actions will be consistent and we have had 2 off-policy meeting rate cuts already. The growth-inflation path has not changed from the last rate cut and inflation trajectory seems in line with RBI’s January 2016 target despite the unseasonal rains and its associated impact on food prices, which is yet to fully reflect in the inflation data. We believe that the current deflationary backdrop, the dovishness of US Federal Reserve, and stable INR offers the RBI an opportunity to frontload its interest rate cuts over the next two quarters.

C. Operations of the Schemes

1. Average Assets under Management (AAUM)

The AAUM of the Mutual Fund for the quarter ended March 31, 2015 stood at `1,48,822.59 crore, while for the quarter ended March 31, 2014 the AAUM of the Mutual Fund was `1,07,033.28 crore.

As of March 31, 2015, the Fund comprised 47 open ended schemes, 4 exchange traded funds, 20 interval fund plans, 1 fund of funds scheme investing overseas, 6 fund of fund schemes investing domestically and 232 close ended schemes. During the year under review, the Fund launched 85 close ended debt schemes, 12 close ended equity schemes, 2 open ended equity funds and 1 open ended debt fund.

2. Operations and Consumer Service

With a view to rendering timely and efficient customer service, the Investment Manager of the Fund, viz., ICICI Prudential Asset Management Company Ltd. (“the AMC”) has been effectively leveraging on its 134 branches including 50 functioning as official points of acceptance of transactions, as on March 31, 2015, effectively servicing the large client base. Additionally a dedicated contact center has been effective in providing investor support and redressing their grievances. The AMC’s focus has been on technological innovation for facilitating investors’ convenience. Some key initiatives are:

IPRUTOUCH Mobile App

Investors of ICICI Prudential Mutual fund can now make their transactions in a convenient way by using IPRUTOUCH mobile app and accessing their portfolio on the go. First time investment from a KYC complied investor is made paperless and convenient through IPRUTOUCH.

This app enables the distributors to initiate transactions on behalf of their investors by just a touch. Distributor can initiate transactions like Purchase, switch, SIP, SIP Top UP, redemption etc. on behalf of their investors.

Call Center Based Transaction

Transactions can be made by investors in easy way by calling our call center; Distributors can also initiate transactions on behalf of their Investors by calling at the call center.

Invest Online

Simplification of online investment process.

Investment process for KYC verified investors for creating his first folio is made paperless with ‘New Investor’ facility on the website.

3. Scheme-wise commentary

a. Balanced/Hybrid & Arbitrage Schemes

i. ICICI Prudential Balanced Fund

ICICI Prudential Balanced Fund is an open ended Balanced Fund that invests a minimum of 65% into equity & equity related securities and remaining in fixed income securities.

The Regular Plan of the scheme posted a return of 38.61% in FY 15, better than the 22.53% posted by the benchmark CRISIL Balanced Fund Index.

The AAUM of the scheme during the last quarter of FY 15 was `1,699.30 crore.

7

ii. ICICI Prudential Equity Income Fund

ICICI Prudential Equity Income Fund seeks to generate regular income through investments in fixed income securities and using arbitrage and other derivative strategies. The Scheme also intends to generate long-term capital appreciation by investing a portion of the Scheme’s assets in equity and equity related instruments.

The Regular Plan of the scheme posted a return of 2.4% from inception date (December 05, 2014) till March 31, 2015, better than the 1.88% returns posted by the benchmark 30% CNX Nifty + 40% CRISIL Liquid Fund Index + 30% CRISIL Short Term Bond Fund Index for the same period.

The AAUM of the scheme during the last quarter of FY 15 was `456.39 crore.

iii. ICICI Prudential Child Care Plan–Study Plan

ICICI Prudential Child Care Plan–Study Plan is an open ended fund which can invest a maximum of 25% in equity and equity related securities and a minimum of 75% in fixed income securities. The equity portion is multi-cap.

The Regular Plan of Study Plan posted a return of 31.31% in FY 15, better than the 16.45% posted by the benchmark CRISIL MIP Blended Index for the year.

The AAUM of the scheme during the last quarter of FY 15 was `54.07 crore.

b. Monthly Income Plans

i. ICICI Prudential MIP 25 (An open ended income fund. Monthly income is not assured and is subject to availability of distributable surplus)

ICICI Prudential MIP 25 is a debt oriented fund which invests primarily in debt and money market instruments. As a secondary objective, the scheme also seeks to generate long term capital appreciation from the portion of equity investments under the Scheme.

The Regular Plan of the scheme posted a return of 23.24% in FY 15, better than the 16.45% posted by the benchmark CRISIL MIP Blended Index for the year.

The AAUM of the scheme during the last quarter of FY 15 was ` 1,168.89 crore.

ii. ICICI Prudential Monthly Income Plan (An open ended income fund. Monthly income is not assured and is subject to availability of distributable surplus)

ICICI Prudential Monthly Income Plan is a debt oriented fund which invests primarily in debt and money market instruments. As a secondary objective, the scheme also seeks to generate long term capital appreciation from the portion of equity investments under the Scheme.

The Regular Plan of the scheme posted a return of 19.82% in FY 15, better than the 16.45% posted by the benchmark CRISIL MIP Blended Index for the year.

The AAUM of the scheme during the last quarter of FY 15 was ` 350.16 crore.

iii. ICICI Prudential Regular Income Fund (Income is not assured and is subject to availability of distributable surplus) (formerly known as ICICI Prudential MIP 5 Fund (Monthly income is not assured and is subject to the availability of distributable surplus)

ICICI Prudential Regular Income Fund is a debt oriented fund that seeks to generate regular income through investments in fixed income securities so as to make regular dividend distribution to unitholders seeking the Dividend Option.

The Regular Plan of the scheme posted a return of 14.85% in FY 15. The benchmark CRISIL MIP Blended Index posted a return of 16.45% for the year.

The AAUM of the scheme during the last quarter of FY 15 was ` 26.09 crore.

II. BRIEF BACKGROUND OF SPONSORS, TRUST, TRUSTEE AND THE AMC

A. Sponsors

1. ICICI Bank Limited

ICICI Bank is India’s largest private sector bank with total assets of Rs. 6,461.29 billion (US$ 103 billion) at March 31, 2015 and profit after tax Rs. 111.75 billion (US$ 1,788 million) for the year ended March 31, 2015. ICICI Bank currently has a network of 4,050 Branches and 12,665 ATM’s across India. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its group companies.

ICICI Bank’s international footprint consists of subsidiaries in the United Kingdom and Canada, branches in the United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Dubai International Finance Centre and Qatar Financial Centre and representative offices in the United Arab Emirates, China, South Africa, Bangladesh, Malaysia and Indonesia. ICICI

8

Bank’s wholly-owned subsidiary ICICI Bank UK Plc has nine branches in the United Kingdom and a branch each in Belgium and Germany. ICICI Bank Canada has eight branches.

ICICI Bank’s equity shares are listed in India on BSE Limited (BSE) and National Stock Exchange of India Limited (NSE) and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).

2. Prudential plc

Prudential plc is an international financial services group serving around 24 million insurance customers and has £496 billion of assets under management (as of 31 December 2014). It is listed on the stock exchanges in London, Hong Kong, Singapore and New York. Prudential is one of the best capitalised insurers in the world with an Insurance Groups Directive (IGD) capital surplus estimated at £4.7 billion (as of 31 December 2014 before final dividend).

Prudential plc is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America.

The Group is structured around four main business units:

Prudential Corporation Asia

Prudential is a leading international life insurer in Asia with life and/or asset management operations in 14 markets, serving the emerging middle class families of the region’s powerhouse economies. It has built a high-performing platform with effective multichannel distribution, a product portfolio centred on regular savings and protection, award winning customer services and a well-respected brand.

Jackson National Life Insurance Company

Jackson is one of the largest life insurance companies in the US, providing retirement savings and income solutions aimed at the 77 million ‘baby-boomers’. Founded over 50 years ago, Jackson has a long and successful record of providing advisors with the products, tools and support to design effective retirement solutions for their clients.

Prudential UK & Europe

Prudential is a long-established leading provider of life and pensions, with a relentless focus on the life and pensions needs of the age cohorts where wealth is most heavily concentrated. Its core strengths in with-profits and retirement are underpinned by its expertise in areas such as longevity, risk management and multi-asset investment, together with its financial strength and highly respected brand..

M&G

M&G has been investing money for individual and institutional clients for over 80 years, and has grown to be one of Europe’s largest retail and institutional fund managers by developing its enduring expertise in active investment. M&G has a conviction led and long-term approach to investment, developing a deep understanding of the companies and organisations in whose equities, bonds or property M&G invests.

B. ICICI Prudential Mutual Fund

ICICI Prudential Mutual Fund (“the Mutual Fund” or “the Fund”) was set up as a Trust in accordance with the provisions of the Indian Trusts Act, 1882 under a Trust Deed dated August 25, 1993 (since amended from time to time). The Fund is sponsored by Prudential plc (through its wholly owned subsidiary Prudential Corporation Holdings Ltd) and ICICI Bank Ltd. ICICI Bank Ltd. contributed ` 10 lakh and Prudential plc, with the approval of Reserve Bank of India, ` 12.2 lakh to the corpus of the Fund.

C. Trustee Company

ICICI Prudential Trust Limited (“the Company/Trustee”) is the Trustee of the Fund (including its schemes). It was incorporated under the Companies Act, 1956, in terms of a Trust Deed executed on August 25, 1993. The Trust Deed is registered under the Indian Registration Act, 1908.

The Trustee holds the Fund in trust for the benefit of the unitholders. The Trustee has been discharging its duties and carrying out the responsibilities as provided in Securities and Exchange Board of India (Mutual Fund) Regulations, 1996 (the “Regulations”) and the Trust Deed. The Trustee seeks to ensure that the Fund and the schemes floated thereunder are managed by the AMC in accordance with the Trust Deed, the Regulations, and the directions and guidelines issued by the Securities & Exchange Board of India (SEBI), the stock exchanges concerned, the Association of Mutual Funds in India and other Regulatory agencies.

1. Share Capital

ICICI Bank Ltd. holds 51% of the share capital of the Trustee; Prudential plc, through its wholly owned subsidiary, Prudential Corporation Holdings Ltd., holds the remaining 49%.

9

2. Board of Directors

As of March 31, 2015, the Board comprised:

Sr. No. Name of the Director Status1. Mr. M. N. Gopinath Independent Director (Chairman)2. Mr. M. S. Parthasarathy* Independent Director3. Mr. Vinod Dhall Independent Director4. Mr. Keki Bomi Dadiseth Nominee Director – Prudential plc5. Mr. Sandeep Batra Nominee Director – ICICI Bank Ltd.

*Resigned with effect from April 30, 2015.

- Mr. Radhakrishnan Nair has been appointed as an Independent Additional Director with effect from July 05, 2015.

D. ICICI Prudential Asset Management Company Limited

ICICI Prudential Asset Management Company Limited (“the AMC”), a company incorporated on June 22, 1993 under the Companies Act, 1956, was registered with SEBI on October 13, 1993 to act as the Investment Manager to all the Schemes of ICICI Prudential Mutual Fund. The Trustee has entered into an Investment Management Agreement dated September 3, 1993 with the AMC to function as the Investment Manager for all the schemes of the Fund.

The AMC has been providing portfolio management services (PMS) since October 2000, with the requisite approvals/permissions from SEBI and the Trustee as envisaged under Regulation 24(b) of the Regulations. Further, the AMC is rendering Advisory Services to SEBI-registered foreign institutional investors (FIIs) and their sub-accounts.The AMC is also providing investment management services to Alternative Investment Funds registered under SEBI (Alternative Investment Funds) Regulations, 2012. These activities are not in conflict with the activities of the Mutual Fund. In the situations of unavoidable conflicts of interest, the AMC undertakes that it shall satisfy itself that adequate disclosures are made of sources of conflict, potential ‘material risk or damage’ to investor interest and develop parameters for the same.

The AMC has secured a leading position in the Indian mutual fund industry with quarterly AAUM of `1,48,822.59 crore for the quarter ended March 31, 2015. The AMC manages a comprehensive range of Schemes to meet the varying investment needs of its investors spread across various cities through 252 Official Points of Transactions (including 202 branches operated through the Registrar of the Mutual Fund) in the country as on March 31, 2015.

1. Share Capital

ICICI Bank Ltd. holds 51% of the share capital of the AMC; Prudential plc, through its wholly owned subsidiary, Prudential Corporation Holdings Ltd., holds the remaining 49%.

2. Board of Directors

As on March 31, 2015, the Board comprised:

Sr. No. Name of the Director Status1. Ms. Chanda Kochhar Nominee Director – ICICI Bank Ltd. (Chairperson)2. Mr. Barry Lee Stowe Nominee Director – Prudential plc3. Mr. N. S. Kannan Nominee Director – ICICI Bank Ltd.4. Mr. Vijay Thacker Independent Director5. Mr. C. R. Muralidharan Independent Director6. Mr. Suresh Kumar Independent Director7. Mr. M. K. Sharma** Independent Director8. Mr. Nimesh Shah Managing Director

** Appointed with effect from April 15, 2014

III. INVESTMENT OBJECTIVES OF THE SCHEMES

• ICICI Prudential Equity Income Fund

The Scheme seeks to generate regular income through investments in fixed income securities and using arbitrage and other derivative strategies. The Scheme also intends to generate long-term capital appreciation by investing a portion of the Scheme’s assets in equity and equity related instruments.

However there can be no assurance that the investment objectives of the scheme will be realized.

• ICICI Prudential MIP 25 (An open ended income fund. Monthly income is not assured and is subject to availability of distributable surplus)

To generate regular income through investments primarily in debt and money market instruments. As a secondary objective, the Scheme also seeks to generate long term capital appreciation from the portion of equity investments under the Scheme.

10

Although the Scheme endeavors to achieve the investment objective, there is no assurance that the investment objective of the Scheme will be realised.

• ICICI Prudential Monthly Income Plan (An open ended income fund. Monthly income is not assured and is subject to availability of distributable surplus)

To generate regular income through investments primarily in debt and money market instruments. As a secondary objective, the Scheme also seeks to generate long term capital appreciation from the portion of equity investments under the Scheme.


• ICICI Prudential Balanced Fund

To generate long term capital appreciation and current income from a portfolio that is invested in equity and equity related securities as well as in fixed income securities.


• ICICIPrudentialRegularIncomeFund(Incomeisnotassuredandissubjecttoavailabilityofdistributablesurplus) (formerly known as ICICI Prudential MIP 5 Fund (Monthly income is not assured and is subject to the availability of distributable surplus)

The Scheme seeks to generate regular income through investments in fixed income securities so as to make regular dividend distribution to unitholders seeking the Dividend Option. The secondary objective of the Scheme is to generate long-term capital appreciation by investing a portion of the Scheme’s assets in equity and equity related instruments.


• ICICI Prudential Child Care Plan–Study Plan

The primary investment objective of the Study Plan is to seek generation of current income by creating a portfolio that is invested in debt, money market instruments and equity and equity related securities.


IV. SIGNIFICANT ACCOUNTING/ VALUATION POLICIES

Accounting policies are in accordance with Securities and Exchange Board of India (Mutual Fund) Regulations, 1996. The changes in the accounting/valuation policies, if any, are stated in the notes to the financial statements of the respective scheme.

V. UNCLAIMED DIVIDEND AND REDEMPTION

Details of unclaimed dividends and redemptions under the various Schemes are given below :

Unclaimed dividend and redemption data for the year ended March 31, 2015Unclaimed Dividend/ Redemption normally represent the time lag between funding of the respective accounts (with bank) by the AMC and the time taken for presentation of redemption/ dividend warrant by the investors. Unclaimed Dividend/Redemption amount in respect of Schemes/ Plans as on March 31, 2015, is as follows:Scheme Name Dividend RedemptionICICI Prudential Balanced Fund 1,13,17,842.57 1,928 25,39,193.25 93ICICI Prudential Child Care Plan-Study Plan 0.00 0 10,87,675.29 39ICICI Prudential Equity Income Fund RP Cumulative 0.00 0 25,004.57 1ICICI Prudential MIP 25 21,73,877.44 2,581 27,60,098.28 163ICICI Prudential Regular Income Fund - Regular Plan - Monthly Dividend

3,130.27 9 20,116.34 2

ICICI Prudential MIP - Regular Plan - Dividend Half Yearly 25,06,277.80 3,679 60,67,724.76 3,567

11

VI. DISCLOSURE OF INVESTOR COMPLAINTS

The disclosure regarding investors’ complaints is given below :

Redressal of Complaints received against the Mutual Fund for the Financial Year ended March 31, 2015Name of the Mutual Fund – ICICI Prudential Mutual FundTotal Number of Folios :3,359,853Complaint Code

Type of Complaint# (a) No. of complaints

pending at the

beginning of the Year

(b) No. of Complaints

received during the

year

Action on (a) and (b)Resolved Non

Actionable Pending

Within 30 days

30-60 days

60-180 days

Beyond 180 days

0-3 months

3-6 months

6-9 months

9-12 months

I A Non receipt of Dividend on Units 2 32 30 2 0 0 0 2 0 0 0I B Interest on delayed payment of

Dividend0 3 3 0 0 0 0 0 0 0 0

I C Non receipt of Redemption Proceeds

2 50 48 1 0 0 0 3 0 0 0

I D Interest on delayed payment of Redemption

0 1 1 0 0 0 0 0 0 0 0

II A Non receipt of Statement of Account/Unit Certificate

0 0 0 0 0 0 0 0 0 0 0

II B Discrepancy in Statement of Account

5 2258 2245 1 0 0 0 17 0 0 0

II C Data corrections in Investor details 3 88 91 0 0 0 0 0 0 0 0II D Non receipt of Annual Report/

Abridged Summary0 0 0 0 0 0 0 0 0 0 0

III A Wrong switch between Schemes 1 102 102 0 0 0 0 1 0 0 0III B Unauthorized switch between

Schemes0 1 1 0 0 0 0 0 0 0 0

III C Deviation from Scheme attributes 0 0 0 0 0 0 0 0 0 0 0III D Wrong or excess charges/load 0 5 5 0 0 0 0 0 0 0 0III E Non updation of changes viz.

address, PAN, bank details, nomination, etc

4 548 547 0 0 0 0 5 0 0 0

IV Others* 5 163 164 1 0 0 0 3 0 0 0Total 22 3251 3237 5 0 0 0 31 0 0 0

* If others include a type of complaint which is more than 10% of overall complaint, provide that reason separately.Example : Complaint number from I A to III E is 1000 and Others alone is 500 and transmission linked complaints (within others) are 200 then provide Transmission as separate reason (V) along with all other parameters# including against its authorized persons/ distributors/ employees. etc.Non actionable means the complaint that are incomplete / outside the scope of the mutual fund.

VII.CORPORATE GOVERNANCE

Pursuant to SEBI circular no. SEBI/IMD/CIR no. 18/198647/2010 dated March 15, 2010 and subsequent clarifications/circulars issued by SEBI, the Fund has formulated a policy for exercise of voting rights by the AMC in investee companies (i.e. companies in whose securities schemes of the Fund have invested).

The AMC has disclosed the Voting Policy and the votes exercised during FY 15 on a quarterly and annual basis alongwith Auditors certification on website of the AMC, viz. www.icicipruamc.com.

VIII. STATUTORY INFORMATION

A. The Sponsors are not responsible or liable for any loss resulting from the operation of the schemes of the Fund beyond their initial contribution of ` 22.2 lakh for setting up the Fund and accretions/additions thereto.

B. The price and redemption value of the units, and income from them, can go up as well as down with fluctuations in the market values of the underlying investments.

C. The full Annual Report shall be put on the website (www.icicipruamc.com) and shall be available for inspection at the Central Service Office of the AMC. An existing or a prospective unitholder can contact the Central Service Office of the AMC to obtain a copy of the trust deed and the full Annual Report of the Fund/ AMC. The AMC/ Fund reserve the right to charge fees for providing copies of these documents.

12

IX. RISK MANAGEMENT SYSTEM

As mandated by a SEBI circular dated September 30, 2002, and in line with the policies of the sponsors of the Fund, the AMC has adopted a full-fledged risk-management framework. In the opinion of the Trustee, on the basis of the data presented by the AMC and reviewed at meetings of its Board of Directors, the system serves its objectives adequately.

X. LIABILITY AND RESPONSIBILITY OF THE TRUSTEE AND THE SPONSORS

The Trustee’s primary responsibility is to safeguard the interests of the unitholders and, inter alia, ensure that the AMC functions in the interests of investors and in accordance with the Regulations, the provisions of the Trust Deed, and the Scheme Information Documents of the Schemes of the Fund. From the information provided to the Trustee by the AMC and discussions with AMC officials at meetings of its Board and Committee, and reviews by the Trustee through its Board of Directors at such meetings, the Trustee is of the opinion that the AMC has operated in the interests of the unitholders and functioned in compliance with the Regulations.

XI. ACKNOWLEDGEMENT

The Trustee expresses its gratitude to the unitholders for their continued support, to SEBI, RBI, AMFI, the registrars, bankers, the custodians of the Fund, the stock exchanges where the units of various Schemes are listed, ICICI Bank and Prudential plc. and the management and employees of the AMC for their continued support and assistance during the year.

For and on behalf of ICICI Prudential Trust Ltd.

Place: Mumbai

Date: July 28, 2015 Sd/-

M. N. Gopinath Chairman

13

ICICI Prudential Mutual Fund Address: 2nd Floor, Block B-2, Nirlon Knowledge Park, Western Express Highway, Goregaon, Mumbai – 400063

Abridged Balance Sheet as at March 31,2015 (figures as per Audited Financials) (As per format prescribed for Abridged schemewise Annual Report- SEBI/IMD/CIR No.8/132968/2008 dt 24/07/08) (` in Lakhs)

ICICI Prudential Balanced Fund ICICI Prudential Equity

Income Fund*

ICICI Prudential MIP 25 (Monthly income is not assured and is subject to availability of

distributable surplus) As at

31-Mar-2015 As at

31-Mar-2014 As at

31-Mar-2015 As at

31-Mar-2015 As at

31-Mar-2014LIABILITIES1 Unit Capital 34,638.26 18,133.77 48,889.28 54,670.55 33,835.38 2 Reserves & Surplus2.1 Unit Premium Reserve 47,040.73 10,704.76 154.05 11,110.97 3,420.27 2.2 Unrealised Appreciation Reserve 25,724.18 11,739.71 - 9,811.37 2,465.16 2.3 Other Reserves 81,495.99 28,680.89 858.47 52,584.70 26,710.70 3 Loans & Borrowings - - - - - 4 Current Liabilities & Provisions

4.1Provision for doubtful Income / deposits

- - - - -

4.2 Other Current Liabilities & Provisions 1,515.70 3,426.39 185.52 1,549.31 458.46 TOTAL 1,90,414.86 72,685.52 50,087.32 1,29,726.90 66,889.97

ASSETS1 Investments1.1 Listed Securities 1.1.1.a Equity Shares 1,25,481.20 46,850.96 33,049.34 24,504.70 14,786.74 1.1.1.b Indian Depository Receipts - - - - - 1.1.1.c Warrants - - - - - 1.1.2 Preference Shares - - - - - 1.1.3 Equity Linked debentures - - - - - 1.1.4 Other debentures & Bonds 3,833.60 4,801.82 95.39 22,504.33 22,686.98 1.1.5 Securitised debt Securities - - - - - 1.2 Securities Awaited Listing1.2.1 Equity Shares - 7.35 - - - 1.2.2 Preference Shares - - - - - 1.2.3 Equity Linked debentures - - - - - 1.2.4 Other debentures & Bonds - - - - -

1.2.5 Securitised debt Securities - - - - -

1.3 Unlisted Securities1.3.1 Equity Shares - - - - - 1.3.2 Preference Shares - - - - - 1.3.3 Equity Linked debentures - - - - - 1.3.4 Other debentures & Bonds - - - 2,499.65 2,436.54 1.3.5 Securitised debt Securities - - - - - 1.4 Government Securities 42,401.66 13,742.89 12,585.48 71,788.44 24,340.84 1.5 Treasury Bills - - - - - 1.6 Commercial Papers - - - - - 1.7 Certificate of Deposits - - - - - 1.8 Bill Rediscounting - - - - - 1.9 Units of Domestic Mutual Fund - - - - - 1.10 Foreign Securities - - - - - 1.11 Gold - - - - -

Total Investments 1,71,716.46 65,403.02 45,730.21 1,21,297.12 64,251.10 2 Deposits 1,887.29 727.72 2,001.64 20.33 - 3 Other Current Assets3.1 Cash & Bank Balance 724.38 154.24 94.55 600.73 61.20 3.2 CBLO / Reverse Repo Lending 14,255.15 4,383.65 140.01 5,394.00 483.03 3.3 Others 1,831.58 2,016.89 2,120.91 2,414.72 2,094.64 4 Deferred Revenue Expenditure

(To the Extent not written off) - - - - -

TOTAL 1,90,414.86 72,685.52 50,087.32 1,29,726.90 66,889.97 Fund Manager Manish Banthia, Yogesh Bhatt & Shalya Shah Manish Banthia,

Chintan Haria Sankaran Naren &

Shalya Shah

Manish Banthia, Rajat Chandak & Shalya Shah

Annexure I- Notes to Accounts *Scheme was launched after 31-Mar-2014 hence there are no previous year figures.Amount less than 0.01 lakhs is shown as zero(

14


Abridged Balance Sheet as at March 31,2015 (figures as per Audited Financials) (As per format prescribed for Abridged schemewise Annual Report- SEBI/IMD/CIR No.8/132968/2008 dt 24/07/08) (` in Lakhs)

ICICI Prudential Monthly Income Plan (Monthly income is not assured and is subject to availability of distributable

surplus)

ICICI Prudential Regular Income Fund (Income is not assured and is subject to availability of distributable surplus)

formerly ICICI Prudential MIP - 5 (Monthly income is not assured and is subject to availability of distributable

surplus)

ICICI Prudential Child Care Plan-Study Plan

As at 31-Mar-2015

As at 31-Mar-2014

As at 31-Mar-2015

As at 31-Mar-2014

As at 31-Mar-2015

As at 31-Mar-2014

LIABILITIES1 Unit Capital 14,114.29 17,554.85 3,488.95 1,744.37 1,063.12 969.80 2 Reserves & Surplus2.1 Unit Premium Reserve 181.00 733.24 17.21 5.59 364.86 111.66 2.2 Unrealised Appreciation Reserve 4,243.37 1,305.30 7.35 - 781.98 422.97 2.3 Other Reserves 17,303.39 17,793.41 974.23 215.15 3,474.54 2,435.73 3 Loans & Borrowings - - - - - - 4 Current Liabilities & Provisions

4.1Provision for doubtful Income / deposits

- - - - - -

4.2 Other Current Liabilities & Provisions 260.15 345.45 30.19 105.77 69.16 52.33 TOTAL 36,102.20 37,732.25 4,517.93 2,070.88 5,753.66 3,992.49

ASSETS1 Investments1.1 Listed Securities 1.1.1.a Equity Shares 4,991.51 5,634.94 - - 1,281.59 956.43 1.1.1.b Indian Depository Receipts - - - - - - 1.1.1.c Warrants - - - - - - 1.1.2 Preference Shares - - - - - - 1.1.3 Equity Linked debentures - - - - - - 1.1.4 Other debentures & Bonds 12,087.57 18,865.89 1,681.81 876.70 1,475.13 1,004.76 1.1.5 Securitised debt Securities - - - - - - 1.2 Securities Awaited Listing1.2.1 Equity Shares - - - - - - 1.2.2 Preference Shares - - - - - - 1.2.3 Equity Linked debentures - - - - - - 1.2.4 Other debentures & Bonds - - - - - - 1.2.5 Securitised debt Securities - - - - - - 1.3 Unlisted Securities1.3.1 Equity Shares - - - - - - 1.3.2 Preference Shares - - - - - - 1.3.3 Equity Linked debentures - - - - - - 1.3.4 Other debentures & Bonds - - 2,353.76 - - - 1.3.5 Securitised debt Securities - - - - - - 1.4 Government Securities 17,530.96 11,962.32 - 1,054.43 2,714.07 1,773.64 1.5 Treasury Bills - - - - - - 1.6 Commercial Papers - - - - - - 1.7 Certificate of Deposits - - - - - - 1.8 Bill Rediscounting - - - - - - 1.9 Units of Domestic Mutual Fund - - - - - - 1.10 Foreign Securities - - - - - - 1.11 Gold - - - - - -

Total Investments 34,610.04 36,463.15 4,035.57 1,931.13 5,470.79 3,734.83 2 Deposits 3.89 2.40 0.01 5.40 2.28 65.82 3 Other Current Assets3.1 Cash & Bank Balance 92.18 82.12 18.73 1.94 13.68 15.15 3.2 CBLO / Reverse Repo Lending 712.87 66.67 296.09 69.40 104.64 94.31 3.3 Others 683.22 1,117.91 167.53 63.01 162.27 82.38

4Deferred Revenue Expenditure(To the Extent not written off)

- - - - - -

TOTAL 36,102.20 37,732.25 4,517.93 2,070.88 5,753.66 3,992.49 Fund Manager Manish Banthia & Rajat Chandak Rahul Bhuskute & Rajat Chandak Manish Banthia, Rajat Chandak &

Shalya Shah Annexure I- Notes to Accounts Amount less than 0.01 lakhs is shown as zero

15


Abridged Revenue Account for the year/period ended March 31, 2015 (figures as per Audited Financials) (As per format prescribed for Abridged schemewise Annual Report- SEBI/IMD/CIR No.8/132968/2008 dt 24/07/08) (` in Lakhs)

ICICI Prudential Balanced Fund ICICI Prudential Equity Income Fund*


distributable surplus)

Year Ended Period Ended Year Ended

31-Mar-2015 31-Mar-2014 31-Mar-2015 31-Mar-2015 31-Mar-2014

1 INCOME

1.1 Dividend 733.01 630.38 124.08 183.69 272.82

1.2 Interest 2,723.93 1,452.42 432.15 4,353.55 4,243.08

1.3Realised Gain /(Loss) on Foreign Exchange Transactions - - - - -

1.4Realised Gain /(Losses) on Interscheme sale of Investments 328.41 (37.97) 2.25 58.86 29.63

1.5Realised Gain /(Losses) on External Sale/Redemption of Investments 16,904.32 3,303.86 258.15 6,288.47 141.68

1.6Realised Gain /(Losses) on Derivative Transactions 256.28 304.93 934.09 60.31 (12.15)

1.7 Other Income 92.79 56.01 22.09 213.56 181.91

1.8 Amortisation of Premium/Discount (0.01) - - (3.48) (0.83)

( A ) 21,038.73 5,709.63 1,772.81 11,154.96 4,856.14

2 EXPENSES (Note 8)

2.1 Interest on Borrowing - - - 0.06 -

2.2 Management Fees 1,586.35 929.68 112.89 1,086.18 942.86

2.3 Service Tax on Management fees 196.07 114.91 13.95 134.25 116.54

2.4 Transfer Agent's Fees & Expenses 86.75 47.08 5.50 41.65 38.08

2.5 Custodian Fees 6.38 4.52 0.48 2.18 3.47

2.6 Trusteeship Fees 0.49 0.33 0.01 0.35 0.42

2.7 Commission to Agents 1,034.46 392.58 105.60 532.94 539.76

2.8 Marketing & Distribution Expenses 33.34 26.04 2.75 10.45 23.55

2.9 Audit fees 1.20 1.17 0.45 1.39 1.30

2.10 Other Operating Expenses 37.70 19.79 4.24 23.43 20.77

2.11 Deferred Revenue Expenses Written Off - - - - -

( B ) 2,982.74 1,536.10 245.87 1,832.88 1,686.75

3Net Realised Gains / (Losses) for the Year / Period (C = A - B) 18,055.99 4,173.53 1,526.94 9,322.08 3,169.39

4Change in Unrealised Depreciation in value of Investments (D) - - 547.06 - -

5Net Gains / (Losses) for the Year/Period (E= C - D) 18,055.99 4,173.53 979.88 9,322.08 3,169.39

6Change in Unrealised Appreciation in value of Investments (F) 13,984.41 7,635.79 - 7,346.16 2,998.97

7Net Surplus/ (Deficit) for the year/period (G = E + F) 32,040.40 11,809.32 979.88 16,668.24 6,168.36

7.1Add: Balance Transfer from Unrealised Appreciation Reserve 11,739.71 4,103.92 - 2,465.16 -

7.2Less: Balance Transfer to Unrealised Appreciation Reserve 25,724.18 11,739.71 - 9,811.37 2,465.16

7.3 Add/(Less) : Equalisation 37,401.82 6,154.56 37.54 18,718.20 2,585.88

7.4 Surplus/(Deficit) brought forward 28,680.89 19,943.80 - 26,710.70 21,986.02

8 Total 84,138.64 30,271.89 1,017.42 54,750.93 28,275.10

9 Dividend Appropriation

9.1 Income Distributed during the year/period 2,642.65 1,591.00 158.95 1,611.15 1,247.27

9.2Tax on Income distributed during the year/period - - - 555.08 317.13

10Retained Surplus/ (Deficit) Carried forward to Balance Sheet 81,495.99 28,680.89 858.47 52,584.70 26,710.70

Fund Manager Manish Banthia, Yogesh Bhatt & Shalya Shah

Manish Banthia, Chintan Haria,

Sankaran Naren & Shalya Shah

Manish Banthia, Rajat Chandak & Shalya Shah

Annexure I- Notes to Accounts *Scheme was launched after 31-Mar-2014 hence there are no previous year figures.Amount less than 0.01 lakhs is shown as zero

16


Abridged Revenue Account for the year/period ended March 31, 2015 (figures as per Audited Financials) (As per format prescribed for Abridged schemewise Annual Report- SEBI/IMD/CIR No.8/132968/2008 dt 24/07/08) (` in Lakhs)


surplus)

ICICI Prudential Regular Income Fund (Income is not assured and is subject to availability of distributable surplus) formerly ICICI Prudential MIP - 5 (Monthly income is not assured and is subject to availability of distributable surplus)


Year Ended Year Ended Year Ended

31-Mar-2015 31-Mar-2014 31-Mar-2015 31-Mar-2014 31-Mar-2015 31-Mar-2014

1 INCOME

1.1 Dividend 36.44 93.40 - 0.59 7.98 11.08

1.2 Interest 1,998.01 3,078.70 164.68 356.19 313.28 249.17

1.3Realised Gain /(Loss) on Foreign Exchange Transactions - - - - - -

1.4Realised Gain /(Losses) on Interscheme sale of Investments 121.79 (17.86) 32.24 (43.48) 31.68 (9.35)

1.5Realised Gain /(Losses) on External Sale/Redemption of Investments 2,081.57 328.09 2.97 (16.32) 606.48 146.68

1.6Realised Gain /(Losses) on Derivative Transactions - - - - - -

1.7 Other Income 38.76 34.32 4.00 7.35 1.21 2.47

1.8 Amortisation of Premium/Discount 0.23 2.15 (0.74) (0.01) - 0.77

( A ) 4,276.80 3,518.80 203.15 304.32 960.63 400.82

2 EXPENSES (Note 8)

2.1 Interest on Borrowing - - - - - -

2.2 Management Fees 536.75 654.85 8.33 67.98 12.10 7.50

2.3 Service Tax on Management fees 66.34 80.94 1.03 8.40 1.50 0.93

2.4 Transfer Agent's Fees & Expenses 20.16 25.00 1.29 2.67 2.87 2.15

2.5 Custodian Fees 1.06 2.01 0.04 0.10 0.14 0.15

2.6 Trusteeship Fees 0.15 0.27 0.01 0.03 0.02 0.02

2.7 Commission to Agents 201.17 303.01 3.76 24.46 44.88 36.62

2.8 Marketing & Distribution Expenses 8.70 14.97 3.99 3.50 3.06 1.72

2.9 Audit fees 0.83 0.63 0.37 0.25 0.10 0.07

2.10 Other Operating Expenses 13.33 15.61 1.98 1.87 3.39 5.41

2.11 Deferred Revenue Expenses Written Off - - - - - -

( B ) 848.49 1,097.29 20.80 109.26 68.06 54.57

3Net Realised Gains / (Losses) for the Year / Period (C = A - B) 3,428.31 2,421.51 182.35 195.06 892.57 346.25

4Change in Unrealised Depreciation in value of Investments (D) - - - 91.43 - -

5Net Gains / (Losses) for the Year/Period ( E= C - D) 3,428.31 2,421.51 182.35 103.63 892.57 346.25

6Change in Unrealised Appreciation in value of Investments (F) 2,938.08 676.76 56.20 - 359.01 226.88

7Net Surplus/ (Deficit) for the year/period (G = E + F) 6,366.39 3,098.27 238.55 103.63 1,251.58 573.13

7.1Add: Balance Transfer from Unrealised Appreciation Reserve 1,305.30 628.53 - 42.58 422.97 196.09

7.2Less: Balance Transfer to Unrealised Appreciation Reserve 4,243.37 1,305.30 7.35 - 781.98 422.97

7.3 Add/(Less) : Equalisation (2,945.94) (4,752.54) 583.30 (373.23) 146.24 (239.68)

7.4 Surplus/(Deficit) brought forward 17,793.41 21,191.13 215.15 499.84 2,435.73 2,329.16

8 Total 18,275.79 18,860.09 1,029.65 272.82 3,474.54 2,435.73

9 Dividend Appropriation

9.1 Income Distributed during the year/period 727.27 847.73 41.71 45.73 - -

9.2Tax on Income distributed during the year/period 245.13 218.95 13.71 11.94 - -

10Retained Surplus/ (Deficit) Carried forward to Balance Sheet 17,303.39 17,793.41 974.23 215.15 3,474.54 2,435.73

Fund Manager Manish Banthia & Rajat Chandak Rahul Bhuskute & Rajat Chandak Manish Banthia, Rajat Chandak & Shalya Shah

Annexure I- Notes to AccountsAmount less than 0.01 lakhs is shown as zero

17


Notes to Accounts – Annexure I to the Abridged Balance Sheet and Revenue Account for the Year ended March 31, 2015 for the following schemes:

Scheme Code Scheme Name

BALCD ICICI Prudential Balanced Fund EQTYINC ICICI Prudential Equity Income FundIMPL ICICI Prudential MIP 25 (Monthly income is not assured and is subject to availability of distributable surplus)MIP ICICI Prudential Monthly Income Plan (Monthly income is not assured and is subject to availability of distributable surplus)MIP5 ICICI Prudential Regular Income Fund (Income is not assured and is subject to availability of distributable surplus) (Formerly ICICI Prudential MIP - 5 (Monthly

income is not assured and is subject to availability of distributable surplus))STUDY ICICI Prudential Child Care Plan-Study Plan

1. Investments

1.1 All investments of the scheme except Government Securities and Treasury Bills are registered in the name of the Trustees for the benefits of the Schemes Unitholders. All investments in Government Securities and Treasury Bills are held in an SGL account in the name of “ICICI Prudential Mutual Fund”.

1.2 Open Positions of derivatives : (` in Lakhs)

Scheme Code 31-Mar-15 31-Mar-14

Long Positions % to Net Assets Short Positions % to Net Assets Long Positions % to Net Assets % to Net Assets Short Positions

BALCD 12,375.39 6.55% - - 1,347.93 1.95% - -

EQTYINC 599.74 1.20% 18,471.85 37.02% - - - -

Disclosure as required under SEBI Circular -Cir/ IMD/ DF/ 11/ 2010 dated August 18, 2010 – for the year 2014 - 15

a Hedging Positions through Futures as on 31st March 2015 :

Scheme Underlying Security Name Long/(Short) Future price when purchased (in `)

Current price of the contract (in `)

Margin Maintained (` in Lakhs)

EQTYINC ACC Ltd. Short 1592.2796 1573.85 15.69

EQTYINC Aurobindo Pharma Ltd. Short 1180.9213 1228.95 283.09

EQTYINC Bank of Baroda Short 167.7354 164.75 87.73

EQTYINC Bharti Airtel Ltd. Short 398.5146 395.5 41.27

EQTYINC Crompton Greaves Ltd. Short 165.2317 167.35 146.42

EQTYINC Coal India Ltd. Short 364.6515 364.45 91.05

EQTYINC Dr. Reddys Laboratories Ltd. Short 3600.6764 3518.45 38.34

EQTYINC Housing Development Finance Corporation Ltd. Short 1388.5146 1322.1 53.52

EQTYINC Hindalco Industries Ltd. Short 133.9383 130.1 106.15

EQTYINC ITC Ltd. Short 331.0495 327.3 95.19

EQTYINC ICICI BANK LIMITED Short 315.2495 316.5 115.58

EQTYINC Jindal Steel & Power Ltd. Short 154.0034 157.85 331.07

EQTYINC Mahindra & Mahindra Ltd. Short 1213.6696 1192.55 52.10

EQTYINC NHPC LIMTED Short 19.6 19.95 25.08

EQTYINC Punjab National Bank Short 156.3222 145.6 126.12

EQTYINC Power Grid Corporation of India Ltd. Short 148.8157 146.45 82.18

EQTYINC Sesa Sterlite Limited Short 194.16 190.45 16.38

EQTYINC State Bank of India Short 267.9985 267.85 169.31

EQTYINC Tata Motors Ltd. Short 538.5318 551.45 224.00

EQTYINC Tata Consultancy Services Ltd. Short 2596.8462 2566.6 128.02

EQTYINC Wipro Ltd. Short 657.3318 632 31.55

b Other than hedging Positions through Futures as on 31st March 2015 :




EQTYINC Sun Pharmaceuticals Industries Ltd. Short 1,045.32 1,029.25 260.33

BALCD NIFTYFNSEAPR2015FUT Long 8,574.91 8,534.75 990.17

EQTYINC Tech Mahindra Ltd. Long 636.54 634.65 75.04

c For the Year ended 31st March 2015 the following transactions through futures have been squared off/ expired : (` in Lakhs)

Hedging Transactions

Scheme Transactions Where futures were bought Transactions Where futures were Sold Combined Net Profit/(Loss) Total % of existing Assets

No of Contract Gross Notional Value No of Contract Gross Notional Value

BALCD - - 851 2,651.38 20.19 -

EQTYINC - - 19,310 51,244.32 930.25 32.88%

18

(` in Lakhs)

Other than Hedging Transactions



BALCD 22,547 60,619.69 - - 236.09 6.59%

EQTYINC 6,058 13,237.89 800 1,748.91 3.83 5.40%

IMPL 500 1,592.26 - - 60.23 -

d Hedging Positions throught Put Options as on 31st March 2015 is Nil

e No hedging transaction through Options were transacted during the year ended 31st March 2015

f Other than Hedging Position through Options as on 31st March 2015 is Nil

g Non hedging transactions through options have already been exercised / expired for the year ended 31st March 2015 is Nil.

h Hedging Positions through swap as on 31st March 2015 - Nil

Disclosure as required under SEBI Circular -Cir/ IMD/ DF/ 11/ 2010 dated August 18, 2010 – for the year 2013 - 14

a Hedging Positions through Futures as on 31st March 2014 is Nil

b Other than hedging Positions through Futures as on 31st March 2014:




BALCD NIFTYFNSEAPR2014FUT Long 6,669.47 6739.65 107.85

c For the Year ended 31st March 2014 the following transactions through futures have been squared off/ expired : (` in Lakhs)

Hedging Transactions



BALCD - - 176 473.53 (9.24) -

For the Year ended 31st March 2014 the following transactions through futures have been squared off/ expired : (` in Lakhs)

Other than Hedging Transactions



BALCD 4,381 12,952.69 - - 314.18 1.95%

d Hedging Positions throught Put Options as on 31st March 2014 is Nil

e No hedging transaction through Options were transacted during the year ended 31st March 2014

f Other than Hedging Position through Options as on 31st March 2014 is Nil

g Non hedging transactions through options have already been exercised / expired for the year ended 31st March 2014 :

Scheme Underlying Security Name Call/Put Number of contracts Gross Notional Value (in ` )

Net Profit/(Loss) (in `)

IMPL HINDUSTAN UNILEVER LIMITED Call 230 2,43,605 -1,29,855

h Hedging Positions through swap as on 31st March 2014 - Nil

1.3 Investments made by schemes in Sponsor/Associates/Group Companies : (` in Lakhs)

Scheme code Name of Sponsor/ Associate/Group Company Nature of Investment As at 31-Mar-2015 As at 31-Mar-2014

Market value of Investment by Scheme Market value of Investment by Scheme

BALCD City Union Bank Ltd $ Equity Shares 3,356.98 303.29

BALCD ICICI Bank Limited Equity Shares 2,997.25 1,556.31

BALCD ICICI Bank Limited Term Depostis 1,873.00 727.72

BALCD Lupin Limited $ Equity Shares - 466.58

BALCD Wipro Ltd $ Equity Shares 1,917.99 -

EQTYINC ICICI Bank Limited Equity Shares 1,159.46 -

EQTYINC ICICI Bank Limited Term Depostis 2,000.00 -

EQTYINC Wipro Ltd $ Equity Shares 693.90 -

IMPL City Union Bank Ltd $ Equity Shares 520.15 289.06

IMPL ICICI Bank Limited Equity Shares 946.50 1,058.29

MIP ICICI Bank Limited Term Depostis - 2.40

MIP5 ICICI Bank Limited Term Depostis - 5.40

STUDY Blue Star Ltd $ Equity Shares 30.77 -

STUDY ICICI Bank Limited Term Depostis - 65.82

STUDY Sterling Holiday Resorts (India) Limited $ Equity Shares 135.34 -

19

Name of Sponsor/ Associate/Group Company

Nature of Investment As at 31-Mar-2015 As at 31-Mar-2014

Aggregate Market Valueof Investment by all Schemes

Aggregate Market Valueof Investment by all Schemes

Asian Paints Ltd $ Equity Shares 389.35 -

Blue Star Ltd $ Commercial Papers 7,440.13 -

Equity Shares 7,870.23 -

City Union Bank Ltd $ Equity Shares 18,219.62 5,405.55

Eastspring Investment Asian Equity Fund Overseas Mutual Fund Units 3,695.20 -

GMR Infrastructure Ltd - RIGHTS $ Equity Shares 323.54 -

GMR Infrastructure Ltd $ Equity Shares 15,682.62 -

Hexaware Technologies Ltd. $ Equity Shares - 520.73

ICICI Bank Limited Equity Shares 2,45,646.18 1,28,219.10

Term Depostis 58,608.18 20,000.00

ICICI Home Finance Company Limited Debentures and Bonds 3,106.11 6,375.30

Lupin Limited $ Equity Shares - 25,337.68

Sterling Holiday Resorts (India) Limited $ Equity Shares 14,890.87 -

The Federal Bank Ltd. $ Equity Shares - 3,368.43

Thomas Cook (India) Ltd $ Debentures and Bonds 10,143.19 -

Equity Shares 678.11 -

Wipro Ltd $ Equity Shares 1,28,480.28 - The above investments are in normal course and are in accordance with the investment objective of relevant scheme. $ The disclosure has been made as director (s) of the AMC is/ are also on the board of the aforesaid companies.

1.4 Subscription by scheme (excluding Secondary Market Purchases) in the issues lead managed by the associate company during 2014-15

(` in Lakhs)

Name of the Issuer Instrument Name of the Scheme Amount

City Union Bank Ltd. Equity Share BALCD 790.38

Muthoot Finance Ltd Equity Share IMPL 297.00

Subscription by scheme (excluding Secondary Market Purchases) in the issues lead managed by the associate company during 2013-14

(` in Lakhs)


Power Grid Corporation of India Ltd. Equity share BALCD 1,620.00

Equity share IMPL 3,149.96

1.5 Subscription to any issue of equity or debt on private placement basis where the sponsor or its associate companies have acted as arranger or manager during 2014-15:

(` in Lakhs)


Nuclear Power Corporation of IndiaLtd Non Convertible Debenture IMPL 2,500.00

Subscription to any issue of equity or debt on private placement basis where the sponsor or its associate companies have acted as arranger or manager during 2013-14 is Nil

1.6 Open Position of securities borrowed : Nil (Previous Year - Nil)

Open Position of securities lend : Nil (Previous Year - Nil)

1.7 Details of NPA

Aggregate market value : Nil (Previous Year - Nil)

Provision thereof Nil (Previous Year - Nil)1.8 Aggregate Unrealised Gain / (Loss) as at the end of the Financial Year and percentage to net assets: (` in Lakhs)

Scheme As at 31-Mar-2015 As at 31-Mar-2014

Unrealised Gain / (Loss) % of Net Assets Unrealised Gain / (Loss) % of Net Assets

BALCD 25,724.11 13.62% 11,739.71 16.95%

EQTYINC (547.06) -1.10% - -

IMPL 9,811.32 7.65% 2,465.16 3.71%

MIP 4,243.37 11.84% 1,305.30 3.49%

MIP5 7.35 0.16% (48.85) -2.49%

STUDY 781.98 13.76% 422.97 10.73%

20

1.9 Aggregate Value of Purchase and Sale with Percentage to average assets : (` in Lakhs)

Scheme Financial Year - 2014-15 Financial Year - 2013-14

Average Net Assets

Purchases % to Average

Net Assets

Sales % to Average Net Assets

Average Net Assets

Purchases % to Average

Net Assets

Sales % to Average Net

Assets

Equity Securities

BALCD 1,18,811.74 99,494.66 83.74% 49,857.86 41.96% 56,577.58 22,676.91 40.08% 17,903.43 31.64%

EQTYINC 43,345.70 37,458.18 86.42% 3,825.37 8.83% - - - - -

IMPL 83,772.53 15,217.79 18.17% 15,166.08 18.10% 68,813.69 14,995.17 21.79% 18,841.83 27.38%

MIP 34,940.94 113.80 0.33% 3,782.77 10.83% 43,898.42 2,549.99 5.81% 5,244.03 11.95%

MIP5 1,790.76 - - - - 4,078.72 0.00 0.00% 221.30 5.43%

STUDY 4,698.18 265.62 5.65% 648.91 13.81% 3,668.31 184.04 5.02% 430.64 11.74%

Other than Equity Securities

BALCD 1,18,811.74 20,24,520.84 1703.97% 19,88,191.43 1673.40% 56,577.58 6,95,056.81 1228.50% 6,86,941.62 1214.16%

EQTYINC 43,345.70 2,93,056.32 676.09% 2,78,267.77 641.97%

IMPL 83,772.53 7,72,097.29 921.66% 7,23,204.80 863.30% 68,813.69 4,31,489.76 627.04% 4,26,529.56 619.83%

MIP 34,940.94 2,13,425.18 610.82% 2,16,376.22 619.26% 43,898.42 2,21,755.98 505.16% 2,31,358.54 527.03%

MIP5 1,790.76 44,996.32 2512.69% 42,750.13 2387.26% 4,078.72 45,170.48 1107.47% 47,848.49 1173.12%

STUDY 4,698.18 56,081.43 1193.68% 54,968.20 1169.99% 3,668.31 2,37,070.27 6462.65% 2,37,021.58 6461.33%

Total

BALCD 1,18,811.74 21,24,015.50 1787.72% 20,38,049.29 1715.36% 56,577.58 7,17,733.72 1268.58% 7,04,845.05 1245.80%

EQTYINC 43,345.70 3,30,514.50 762.51% 2,82,093.14 650.80% - - - - -

IMPL 83,772.53 7,87,315.08 939.82% 7,38,370.88 881.40% 68,813.69 4,46,484.93 648.83% 4,45,371.39 647.21%

MIP 34,940.94 2,13,538.98 611.14% 2,20,158.99 630.09% 43,898.42 2,24,305.97 510.97% 2,36,602.57 538.98%

MIP5 1,790.76 44,996.32 2512.69% 42,750.13 2387.26% 4,078.72 45,170.48 1107.47% 48,069.79 1178.55%

STUDY 4,698.18 56,347.05 1199.34% 55,617.11 1183.80% 3,668.31 2,37,254.31 6467.67% 2,37,452.22 6473.07%

Equity Securities excludes transactions in futures & options other than equity securities includes units of mutual fund, debt and money market including CBLO and fixed deposit.

1.10 Non-Traded securities in the portfolio: Scheme Particulars As at March 31, 2015 As at March 31, 2014

Amount (` in Lakhs) % of Net Assets Value Amount (` in Lakhs) % of Net Assets ValueBALCD Aggregate value of non traded Debt 3,833.60 2.03% 4,801.82 6.93%

BALCD Aggregate value of non traded Equity 36.38 0.02% 7.35 0.01%

IMPL Aggregate value of non traded Debt 22,491.72 17.55% 25,123.52 37.82%

MIP Aggregate value of non traded Debt 12,087.57 33.72% 18,865.89 50.46%

MIP Aggregate value of non traded Equity 2.85 0.01% - -

MIP5 Aggregate value of non traded Debt 4,035.58 89.92% 876.70 44.61%

STUDY Aggregate value of non traded Debt 1,475.13 25.95% 1,004.76 25.50%

STUDY Aggregate value of non traded Equity 1.84 0.03% - -

2. Details of Transaction with Associates under regulation 25(8).

a. Brokerage paid to associates/related parties/group companies of Sponsor/AMC :

Name of Associate/ related parties/group companies of

Sponsor/ AMC

Nautre of Association/

Nature of relation

Scheme 2014-15 2013-14

Value of transaction (` in Lakhs)

% of total value of

transaction of the fund

Brokerage (` in Lakhs)

% of the total

brokerage related to scheme

Value of transaction (` in Lakhs)

% of total value of

transaction of the fund

Brokerage (` in Lakhs)

% of the total

brokerage related to scheme

ICICI Securities Limited Group Company

BALCD 12,361.99 4.65% 7.42 5.22% 608.77 0.84% 0.12 0.32%

EQTYINC 2,312.29 1.26% 1.36 2.80% - - - -

IMPL 1,688.85 4.72% 1.00 4.73% 70.37 0.11% 0.08 0.38%

MIP 243.44 3.31% 0.14 5.96% - - - -

21

b. Commission paid to associates/related parties/group companies of Sponsor/AMC : (` in Lakhs)

Name of Associate/ related parties/group companies of Sponsor/ AMC

Nautre of Association/ Nature of relation

Scheme 2014-15 2013-14Value of Business

given (` in Lakhs)

% of total value of business

received by the scheme

Commission (` in Lakhs)

% of the total

commission paid by the

scheme

Value of Business

given (` in Lakhs)

% of total value of business

received by the scheme

Commission (` in Lakhs)

% of the total

commission paid by the

schemeICICI Bank Limited Sponsor BALCD 11,523.08 9.62% 307.48 12.56% 773.83 2.92% 33.06 5.26%

EQTYINC 14,209.90 26.74% 324.91 29.75% - - - -

IMPL 4,886.55 5.14% 168.27 5.54% 1,643.12 4.37% 24.12 3.09%

MIP 741.63 9.94% 10.70 3.99% 725.20 7.82% 7.76 2.29%

MIP5 2,314.74 58.93% 22.57 53.66% 400.83 24.35% 7.14 22.16%

STUDY 13.93 1.28% 3.65 12.52% 7.21 3.11% 3.20 8.27%

ICICI Securities Limited Group Company

BALCD 3,339.27 2.79% 57.60 2.35% 1,344.66 5.08% 18.59 2.96%

EQTYINC 822.88 1.55% 17.58 1.61% - - - -

IMPL 925.11 0.97% 24.72 0.81% 405.57 1.08% 5.09 0.65%

MIP 121.67 1.63% 1.60 0.60% 132.42 1.43% 1.08 0.32%

MIP5 52.54 1.34% 0.55 1.31% 75.34 4.58% 0.63 1.95%

STUDY 20.86 1.91% 0.13 0.46% 2.87 1.24% 0.03 0.07%

ICICI Securities Primary Dealership Limited

Group Company

BALCD - - 0.01 ^^ - - 0.01 ^^

Unique Investment Consultants $$

Distributor is a relative of an employee of the AMC

BALCD - - - - - - ^^ ^^

EQTYINC 0.10 ^^ - - - - - -

IMPL - - - - - - ^^ ^^

MIP - - 0.30 0.11% - - 0.33 0.10%

One World Financial & Advisory $$

Distributor is a relative of an employee of the AMC

IMPL 14.77 0.02% 0.22 0.01% - - - -

c. Other Charges paid to associates/related parties/group companies of Sponsor/AMC : (` in Lakhs)

Entity Nature of Payment Scheme For the Year ended31st March 2015

For the Year ended31st March 2014

ICICI Bank Ltd Bank Charges / Interest Charges* BALCD 7.89 2.24

IMPL 0.39 0.69

MIP 0.28 1.01

MIP5 0.03 0.06

EQTYINC 7.11 0.00

STUDY 0.17 0.14

ICICI Securities Limited Investor Education Expenses BALCD - 0.14

IMPL - 0.15

MIP - 0.09

MIP5 - 0.01

STUDY - 0.01

* Bank charges paid include transaction charges paid to ICICI Bank Limited (Professional clearing member) for futures and options transactions

^^ Amount less than Rs. 0.01 Lakhs / Percentage less than 0.01%

$$ The disclosure has been made as Distributor is a relative of an employee of the AMC.

Note : The schemes have paid Management Fees and Trusteeship fees to ICICI Prudential Asset Management Company Limited and ICICI Prudential Trust Limited respectively as disclosed in Revenue Account.

3 Investors holding units in the Scheme over 25% of the NAV as on March 31, 2015 are Nil. (Previous year – Nil)

4 Unit Capital movement during the year/period ended :

2014-15

Scheme Plan Balance at the beginning of the year/

Initial Subscription

Issued during the year/period (includes units issued during

NFO)

Redemption during the year/period

Balance at the close of the year

Face Value of Units at the close of the year

Units Units Units Units Amount (`)

BALCD Direct Dividend Option 23,13,147.46 28,51,200.78 4,44,249.88 47,20,098.36 4,72,00,984

BALCD Direct Growth Option 19,35,816.28 1,22,20,682.41 41,75,367.14 99,81,131.54 9,98,11,315

BALCD Direct Half Yearly Dividend Option - 3,06,176.88 7,177.40 2,98,999.48 29,89,995

BALCD Regular Dividend Option 10,37,60,152.04 10,20,65,436.52 2,73,44,332.67 17,84,81,255.89 1,78,48,12,559

BALCD Regular Growth Option 7,33,28,577.95 9,61,50,201.42 2,05,87,953.99 14,88,90,825.38 1,48,89,08,254

BALCD Regular Half Yearly Dividend Option - 40,42,548.13 32,305.87 40,10,242.26 4,01,02,423

BALCD Total 18,13,37,693.72 21,76,36,246.13 5,25,91,386.95 34,63,82,552.90 3,46,38,25,529

22

2014-15




NFO)





EQTYINC Direct Growth Option - 71,89,843.29 1,00,241.46 70,89,601.83 7,08,96,018

EQTYINC Direct Half Yearly Dividend Option - 1,73,703.50 25,533.18 1,48,170.33 14,81,703

EQTYINC Direct Monthly Dividend Option - 10,10,728.54 12,273.64 9,98,454.91 99,84,549

EQTYINC Direct Quarterly Dividend Option - 5,31,121.28 22,592.90 5,08,528.38 50,85,284

EQTYINC Regular Growth Option - 31,02,64,313.28 1,93,95,684.21 29,08,68,629.08 2,90,86,86,291

EQTYINC Regular Half Yearly Dividend Option - 3,42,83,789.14 6,12,803.83 3,36,70,985.31 33,67,09,853

EQTYINC Regular Monthly Dividend Option - 8,19,39,179.05 85,97,194.54 7,33,41,984.51 73,34,19,845

EQTYINC Regular Quarterly Dividend Option - 8,52,89,594.16 30,23,123.48 8,22,66,470.68 82,26,64,707

EQTYINC Total - 52,06,82,272.25 3,17,89,447.23 48,88,92,825.02 4,88,89,28,250

IMPL Direct Bonus Option 218.61 907.13 218.61 907.13 9,071

IMPL Direct Growth Option 9,45,819.98 14,36,102.04 5,08,245.87 18,73,676.15 1,87,36,761

IMPL Direct Half Yearly Dividend Option 2,639.49 1,31,615.89 1,323.04 1,32,932.33 13,29,323

IMPL Direct Monthly Dividend Option 3,73,450.67 10,09,356.69 3,75,195.86 10,07,611.50 1,00,76,115

IMPL Direct Quarterly Dividend Option 2,31,870.55 3,00,767.03 34,605.22 4,98,032.36 49,80,324

IMPL Regular Bonus Option 4,357.49 7,833.41 8,152.18 4,038.71 40,387

IMPL Regular Growth Option 20,25,98,842.16 23,36,99,414.16 11,60,86,434.90 32,02,11,821.42 3,20,21,18,214

IMPL Regular Half Yearly Dividend Option 20,94,906.00 30,61,700.30 19,64,453.08 31,92,153.22 3,19,21,532

IMPL Regular Monthly Dividend Option 8,25,79,324.64 14,63,42,806.05 7,15,13,731.96 15,74,08,398.73 1,57,40,83,987

IMPL Regular Quarterly Dividend Option 4,95,22,398.54 4,96,07,192.38 3,67,53,704.62 6,23,75,886.29 62,37,58,863

IMPL Total 33,83,53,828.12 43,55,97,695.06 22,72,46,065.34 54,67,05,457.83 5,46,70,54,578

MIP Direct Bonus Option - 2,031.17 - 2,031.17 20,312

MIP Direct Growth Option 4,64,410.46 3,36,074.21 1,34,095.46 6,66,389.21 66,63,892

MIP Direct Half Yearly Dividend Option 8,134.46 74,989.41 26,567.41 56,556.47 5,65,565

MIP Direct Monthly Dividend Option 9,40,839.38 22,82,278.01 8,49,550.69 23,73,566.70 2,37,35,667

MIP Direct Quarterly Dividend Option 37,187.96 9,06,707.35 28,714.56 9,15,180.75 91,51,808

MIP Regular Growth Option 8,05,62,329.78 1,27,73,293.88 2,56,90,151.80 6,76,45,471.87 67,64,54,719

MIP Regular Half Yearly Dividend Option 39,43,992.05 4,15,296.12 9,89,781.87 33,69,506.29 3,36,95,063

MIP Regular Monthly Dividend Option 6,29,88,190.23 1,08,80,521.72 2,99,40,982.55 4,39,27,729.40 43,92,77,294

MIP Regular Quarterly Dividend Option 2,66,03,377.96 32,87,934.02 77,04,832.37 2,21,86,479.61 22,18,64,796

MIP Total 17,55,48,462.28 3,09,59,125.89 6,53,64,676.69 14,11,42,911.47 1,41,14,29,115

MIP5 Direct Bonus Option - 500.00 - 500.00 5,000

MIP5 Direct Growth Option 40,112.57 3,37,254.44 56,366.58 3,21,000.43 32,10,004

MIP5 Direct Monthly Dividend Option 7,457.50 91,492.67 13,578.17 85,372.00 8,53,720

MIP5 Direct Quarterly Dividend Option 391.19 1,89,087.06 2,786.07 1,86,692.18 18,66,922

MIP5 Regular Growth Option 1,07,09,977.52 2,31,96,670.21 91,81,593.59 2,47,25,054.14 24,72,50,541

MIP5 Regular Half Yearly Dividend Option 21,354.77 1,006.60 989.90 21,371.47 2,13,715

MIP5 Regular Monthly Dividend Option 54,25,992.74 54,52,515.74 21,95,807.74 86,82,700.75 8,68,27,007

MIP5 Regular Quarterly Dividend Option 12,38,391.43 6,42,578.21 10,14,194.53 8,66,775.11 86,67,751

MIP5 Total 1,74,43,677.72 2,99,11,104.93 1,24,65,316.58 3,48,89,466.07 34,88,94,661

STUDY Direct Growth Option 1,63,000.88 10,60,278.37 87,328.55 11,35,950.69 1,13,59,507

STUDY Regular Growth Option 95,34,994.52 11,04,656.41 11,44,435.61 94,95,215.32 9,49,52,153

STUDY Total 96,97,995.40 21,64,934.78 12,31,764.16 1,06,31,166.01 10,63,11,660

2013-14




NFO)





BALCD Direct Dividend Option 2,10,384.73 22,15,448.07 1,12,685.34 23,13,147.46 2,31,31,475

BALCD Direct Growth Option 2,07,277.01 19,26,574.95 1,98,035.68 19,35,816.28 1,93,58,163

BALCD Regular Dividend Option 9,81,22,678.72 3,01,21,423.29 2,44,83,949.97 10,37,60,152.04 1,03,76,01,520

BALCD Regular Growth Option 5,52,43,658.83 3,11,52,257.07 1,30,67,337.95 7,33,28,577.95 73,32,85,780

BALCD Total 15,37,83,999.28 6,54,15,703.38 3,78,62,008.94 18,13,37,693.72 1,81,33,76,937

IMPL Direct Bonus Option - 218.61 - 218.61 2,186

IMPL Direct Growth Option 2,59,273.30 8,07,179.77 1,20,633.09 9,45,819.98 94,58,200

IMPL Direct Half Yearly Dividend Option 1,681.80 957.69 - 2,639.49 26,395

23

2013-14




NFO)





IMPL Direct Monthly Dividend Option 2,55,476.72 4,86,092.11 3,68,118.16 3,73,450.67 37,34,507

IMPL Direct Quarterly Dividend Option 13,143.33 2,33,447.00 14,719.78 2,31,870.55 23,18,706

IMPL Regular Bonus Option - 4,357.49 - 4,357.49 43,575

IMPL Regular Growth Option 17,52,53,221.51 11,83,06,971.62 9,09,61,350.97 20,25,98,842.16 2,02,59,88,422

IMPL Regular Half Yearly Dividend Option 31,57,810.74 3,76,633.97 14,39,538.72 20,94,906.00 2,09,49,060

IMPL Regular Monthly Dividend Option 12,69,07,200.13 4,05,18,404.28 8,48,46,279.77 8,25,79,324.64 82,57,93,246

IMPL Regular Quarterly Dividend Option 5,82,85,387.97 2,82,11,655.31 3,69,74,644.74 4,95,22,398.54 49,52,23,985

IMPL Total 36,41,33,195.51 18,89,45,917.84 21,47,25,285.22 33,83,53,828.12 3,38,35,38,281

MIP Direct Growth Option 1,56,056.04 5,16,252.63 2,07,898.21 4,64,410.46 46,44,105

MIP Direct Half Yearly Dividend Option 1,201.40 6,933.06 - 8,134.46 81,345

MIP Direct Monthly Dividend Option 2,11,919.85 9,07,289.93 1,78,370.39 9,40,839.38 94,08,394

MIP Direct Quarterly Dividend Option 2,45,063.73 1,04,040.56 3,11,916.32 37,187.96 3,71,880

MIP Regular Growth Option 10,03,10,207.69 2,29,78,342.33 4,27,26,220.24 8,05,62,329.78 80,56,23,298

MIP Regular Half Yearly Dividend Option 48,82,437.65 6,25,898.64 15,64,344.24 39,43,992.05 3,94,39,920

MIP Regular Monthly Dividend Option 10,74,34,928.78 61,94,958.94 5,06,41,697.49 6,29,88,190.23 62,98,81,902

MIP Regular Quarterly Dividend Option 4,47,47,961.52 29,88,974.86 2,11,33,558.42 2,66,03,377.96 26,60,33,780

MIP Total 25,79,89,776.66 3,43,22,690.94 11,67,64,005.31 17,55,48,462.28 1,75,54,84,623

MIP5 Direct Growth Option 25,017.75 42,442.12 27,347.31 40,112.57 4,01,126

MIP5 Direct Monthly Dividend Option 9,570.02 16,820.94 18,933.46 7,457.50 74,575

MIP5 Direct Quarterly Dividend Option - 391.19 - 391.19 3,912

MIP5 Regular Growth Option 3,50,62,761.27 1,02,99,701.03 3,46,52,484.78 1,07,09,977.52 10,70,99,775

MIP5 Regular Half Yearly Dividend Option 21,354.77 - - 21,354.77 2,13,548

MIP5 Regular Monthly Dividend Option 87,02,125.34 35,24,968.65 68,01,101.25 54,25,992.74 5,42,59,927

MIP5 Regular Quarterly Dividend Option 11,51,662.54 3,75,475.01 2,88,746.11 12,38,391.43 1,23,83,914

MIP5 Total 4,49,72,491.69 1,42,59,798.94 4,17,88,612.91 1,74,43,677.72 17,44,36,777

STUDY Direct Growth Option 91,211.34 1,62,301.37 90,511.83 1,63,000.88 16,30,009

STUDY Regular Growth Option 1,06,44,512.58 4,27,616.41 15,37,134.47 95,34,994.52 9,53,49,945

STUDY Total 1,07,35,723.92 5,89,917.77 16,27,646.29 96,97,995.40 9,69,79,954

5. Previous year figures are regrouped wherever necessary.

6. The Income Tax return filed by certain securitization trust whose Pass Through Certificates (PTCs) were held by the Scheme were taken up for scrutiny by the Income Tax Authorities for certain earlier years. Arising out of this, they had raised a demand on such Trusts. On failure to recover the same from them they sent demand notices to the Mutual Fund as one of the beneficiaries / Contributors to such trust. The Mutual Fund in consultation with its tax & legal advisors has contested the applicability of such demand and proceedings thereon which are pending as on the Balance Sheet date.

7. Contingent Liability. Nil (Previous year: Nil)

8. Expenses other than management fee are inclusive of service tax where applicable.

24

ICICI Prudential Mutual FundAddress:2nd Floor, Block B-2, Nirlon Knowledge Park, Western Express Highway, Goregaon, Mumbai – 400063

Historical Per Unit Statistics (on the basis of closing units) for the year/period ended March 31, 2015 (figures as per Audited Financials) (As per format prescribed for Abridged schemewise Annual Report- SEBI/IMD/CIR No.8/132968/2008 dt 24/07/08)2

ICICI Prudential Balanced Fund ICICI Prudential Equity Income Fund



Year Ended Year Ended Period Ended Year Ended Year Ended


1 NAV PER UNIT (`)

A Open 171.5000 141.9000 -

Direct Bonus Option - - - 25.0972 -

Direct Dividend Option 20.25 16.52 - - -

Direct Growth Option 66.79 54.5 - 25.0997 22.6983

Direct Half Yearly Dividend Option - - - 11.2404 10.9435

Direct Monthly Dividend Option - - - 12.6151 12.1997

Direct Quarterly Dividend Option - - - 11.4049 10.8673

Regular Bonus Option - - - 10.382 -

Regular Dividend Option 18.28 16.49 - - -

Regular Growth Option 66.18 54.39 - 24.8577 22.6604

Regular Half Yearly Dividend Option - - - 10.8157 10.7312

Regular Monthly Dividend Option - - - 12.2999 12.1664

Regular Quarterly Dividend Option - - - 10.8526 10.747

B High

Direct Bonus Option - - - 31.1222 25.0972


Direct Growth Option 96.7 66.79 10.36 31.1271 25.0997

Direct Half Yearly Dividend Option 11.34 - 10.36 13.9396 11.6263

Direct Monthly Dividend Option - - 10.36 14.4024 12.7183

Direct Quarterly Dividend Option - - 10.36 12.8378 11.4891

Regular Bonus Option - - - 12.7941 10.382


Regular Growth Option 95.03 66.18 10.34 30.6335 24.8577

Regular Half Yearly Dividend Option 11.4 - 10.34 12.7283 11.245

Regular Monthly Dividend Option - - 10.34 13.8617 12.6725

Regular Quarterly Dividend Option - - 10.34 12.015 11.2616

C Low













D End













25

ICICI Prudential Balanced Fund ICICI Prudential Equity Income Fund



Year Ended Year Ended Period Ended Year Ended Year Ended


2 Assets Under Management (` in Lakhs)

Closing 188,899.14 69,259.12 49,901.80 1,28,177.57 66,431.49

Average (AAuM) 118,811.74 56,577.58 43,345.70 83,772.53 68,813.69

3 Gross Income as % of AAuM * 17.72% 10.09% 12.87% 13.32% 7.06%

4 Expense Ratio

A Total Expense as % of AAuM (plan wise) *

Direct Option 1.55% 1.99% 1.00% 1.54% 1.63%

Regular Option 2.56% 2.73% 1.80% 2.19% 2.45%

B Management Fee as % of AAuM (plan wise) *

Direct Option 1.34% 1.64% 0.82% 1.30% 1.37%

Regular Option 1.34% 1.64% 0.82% 1.30% 1.37%

5 Net Income as % of AAuM * 15.21% 7.38% 11.08% 11.13% 4.61%

6 Portfolio Turnover Ratio -Aggregate for all Asset category

17.15 12.46 6.51 8.81 6.47

Portfolio Turnover Ratio – Equity 0.42 0.32 0.09 0.18 0.22

7 Total Dividend per unit distributed duringthe Year / Period (plan- wise)

Direct Dividend Option 2.0000 - - - -

Direct Half Yearly Dividend Option - - - - 0.8355




Regular Half Yearly Dividend Option - - - 1.1094 0.9245



8 Returns

A Last One Year

Scheme

Direct Option 39.87% 22.35% - 24.01% 10.53%

Regular Option 38.61% 21.48% - 23.24% 9.65%

Benchmark 22.53% 13.29% - 16.45% 6.46%

B Since Inception

Scheme

Direct Option 25.45% 14.94% 2.60% 14.42% 7.22%

Regular Option 15.46% 14.01% 2.40% 10.70% 9.53%

Benchmark

Direct Option 14.59% 8.58% 1.88% 10.35% 5.66%

Regular Option @@ @@ 1.88% 7.95% 7.13%

Benchmark Index Crisil Balanced Fund Index 30% CNX Nifty, 40% Crisil Liquid Fund

Index & 30% Crisil Short Term Bond Fund

Index

Crisil MIP Blended Index

* Annualised

Note:1. Scheme Returns and Benchmark Returns for schemes launched during the year are computed from date of allotment. These returns are shown on absolute basis. 2. Returns have been calculated based on Growth option except for plans where Growth option NAV is not available Dividend option NAV is considered. 3. Gross Income = Amount against (A) in the Revenue account i.e income4. Net Income = Amount against (C) in the Revenue account i.e Net realised gains/(Losses) for the Year / Period5. Portfolio Turnover = Lower of sales or purchase divided by Average AUM for the Year / Period6. AAuM = Average daily net assets7. Performance for scheme options in which units are fully redeemed & were reissued at Face Value on fresh subcriptions (except in case of Direct Plan where NAV of corresponding Regular

Plan is considered) made by the investors during the year are shown on absolute basis and accordingly corresponding previous year figures are not shown.8. Performance figures have been computed based on the last declared NAV.9. Plans closed during the year are not considered for above disclosure10. @@ As these Schemes were launched before the launch of the appropriate benchmark index, benchmark index returns since inception or the required period are not provided.

26

ICICI Prudential Mutual FundAddress:2nd Floor, Block B-2, Nirlon Knowledge Park, Western Express Highway, Goregaon, Mumbai – 400063

Historical Per Unit Statistics (on the basis of closing units) for the year ended March 31, 2015 (figures as per Audited Financials) (As per format prescribed for Abridged schemewise Annual Report- SEBI/IMD/CIR No.8/132968/2008 dt 24/07/08)2


surplus)



surplus)


Year Ended Year Ended Year Ended Year Ended Year Ended Year Ended


1 NAV PER UNIT (`)

A Open 137.3680 133.3723 75.1390 64.7928 81.7520 69.7366

Direct Bonus Option - - - - - -

Direct Dividend Option - - - - - -

Direct Growth Option 32.5024 29.9487 12.0567 11.5234 41.132 34.9088

Direct Half Yearly Dividend Option 11.8828 12.4872 - - - -

Direct Monthly Dividend Option 11.7659 11.7176 10.138 10.4702 - -

Direct Quarterly Dividend Option 12.8757 12.659 10.3543 - - -

Regular Bonus Option - - - - - -

Regular Dividend Option - - - - - -

Regular Growth Option 32.2163 29.8941 11.9663 11.5035 40.62 34.8278

Regular Half Yearly Dividend Option 11.831 12.4825 10.2934 10.5899 - -

Regular Monthly Dividend Option 11.641 11.6708 10.1237 10.4149 - -

Regular Quarterly Dividend Option 12.6529 12.5124 10.2066 10.2909 - -

B High

Direct Bonus Option 10.7955 - 10.3868 - - -





Direct Quarterly Dividend Option 14.2367 13.2125 10.8768 10.3543 - -







C Low













D End











27


surplus)



surplus)


Year Ended Year Ended Year Ended Year Ended Year Ended Year Ended




2 Assets Under Management (` in Lakhs)

Closing 35,842.03 37,386.79 4,487.74 1,965.12 5,684.52 3,940.16

Average (AAuM) 34,940.94 43,898.42 1,790.76 4,078.72 4,698.18 3,668.31

3 Gross Income as % of AAuM * 12.24% 8.02% 11.34% 7.46% 20.45% 10.93%

4 Expense Ratio

A Total Expense as % of AAuM (plan wise) *

Direct Option 1.82% 1.79% 0.71% 1.95% 0.48% 0.48%

Regular Option 2.43% 2.50% 1.17% 2.68% 1.50% 1.50%

B Management Fee as % of AAuM (plan wise) *

Direct Option 1.54% 1.49% 0.47% 1.67% 0.26% 0.20%

Regular Option 1.54% 1.49% 0.47% 1.67% 0.26% 0.20%

5 Net Income as % of AAuM * 9.81% 5.52% 10.18% 4.78% 19.00% 9.44%

6 Portfolio Turnover Ratio -Aggregate for all Asset category

6.11 5.11 23.87 11.07 11.84 64.68

Portfolio Turnover Ratio – Equity - 0.06 - - 0.06 0.05

7 Total Dividend per unit distributed duringthe Year / Period (plan- wise)




Direct Quarterly Dividend Option 1.4910 0.8131 1.3145 - - -





8 Returns

A Last One Year

Scheme

Direct Option 20.53% 8.51% 15.32% 4.64% 32.66% 17.71%

Regular Option 19.82% 7.75% 14.85% 4.03% 31.31% 16.52%

Benchmark 16.45% 6.46% 16.45% 6.46% 16.45% 6.46%

B Since Inception

Scheme

Direct Option 13.09% 7.42% 9.31% 4.64% 21.99% 13.93%

Regular Option 9.84% 9.13% 8.47% 6.36% 13.11% 11.78%

Benchmark

Direct Option 10.41% 5.77% 10.32% 5.56% 10.34% 5.61%

Regular Option @@ @@ 9.56% 7.29% @@ @@

Benchmark Index Crisil MIP Blended Index Crisil MIP Blended Index Crisil MIP Blended Index

* Annualised

Note:1. Scheme Returns and Benchmark Returns for schemes launched during the year are computed from date of allotment. These returns are shown on absolute basis. 2. Returns have been calculated based on Growth option except for plans where Growth option NAV is not available Dividend option NAV is considered. 3. Gross Income = Amount against (A) in the Revenue account i.e income4. Net Income = Amount against (C) in the Revenue account i.e Net realised gains/(Losses) for the Year / Period5. Portfolio Turnover = Lower of sales or purchase divided by Average AUM for the Year / Period6. AAuM = Average daily net assets7. Performance for scheme options in which units are fully redeemed & were reissued at Face Value on fresh subcriptions (except in case of Direct Plan where NAV of corresponding Regular

Plan is considered) made by the investors during the year are shown on absolute basis and accordingly corresponding previous year figures are not shown.8. Performance figures have been computed based on the last declared NAV.9. Plans closed during the year are not considered for above disclosure10. @@ As these Schemes were launched before the launch of the appropriate benchmark index, benchmark index returns since inception or the required period are not provided.

28

29

30

Foreign Account Tax Compliance Act (FATCA)FATCA is a United States (US) Federal Law, to improve compliance of US tax citizens who have foreign financial assets and offshore accounts. In terms of FATCA, foreign financial institutions (FFIs) are required to report information about financial accounts held by US taxpayers (even if they hold only non-US assets), or held by foreign entities in which US taxpayers hold a substantial ownership interest.

The Government of India and US Government have signed an Inter-Governmental Agreement (IGA) on July 9, 2015 to implement FATCA. Pursuant to the reporting requirements mandated under FATCA, ICICI Prudential Asset Management Company Limited (the AMC)/the Fund would be required, from time to time:(i) To undertake necessary due diligence process by collecting information/documentary evidence about US/Non-US

status of the investors/unit holders and identify US reportable accounts; and(ii) To disclose/report information about the holdings, investments returns pertaining to US reportable accounts to the

specified US agencies and/or such Indian authorities as may be specified under FATCA guidelines or under any other guidelines issued by Indian Regulatory Authorities such as SEBI, Income Tax etc. (collectively referred to as ‘the Guidelines’).

FATCA due diligence will be applicable at each investor/unit holder (including joint holders) level and on being identified as reportable person/specified US person, all folios/accounts will be reported including their identity, direct or indirect beneficiaries, beneficial owners and controlling persons. Further, in case of folio(s)/account(s) with joint holder(s), the entire account value of the investment portfolio will be attributable under each such reportable person. Investor(s)/Unit Holder(s) will, therefore, be required to comply with the request of the AMC/the Fund to furnish such information, in a timely manner as may be required by the AMC/the Fund to comply with the due diligence/reporting requirements stated under IGA and/or the Guidelinesissued from time to time.

Nomination

In terms of SEBI (Mutual Fund) Regulations, 1996, the mutual fund shall provide for nomination facility to the unit holders to nominate a person in whose favour the units shall be transmitted in the event of death of the unitholder. In accordance, with the same, the AMC provides for the nomination facility as permitted under the Regulations.Nomination Forms are available alongwith the application forms at any of the Customer Service Centers of the AMC.

31

The Abridged Annual Report has been extracted from the Audited Balance Sheet, Revenue Account and Notes to Accounts. Full Annual Report is available on the website www.icicipruamc.com. Unitholders may refer to the full Annual Report displayed on the website w.r.t. general policies and procedures for exercising voting rights, the details of proxy voting exercised during the Financial Year 2014-15 alongwith auditor’s certification. For Unitholders of the Scheme, full Annual Report is available for inspection at the Corporate Office/Central Service Office of the AMC and a copy thereof shall be made available to the Unitholder on request.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Disclaimer

Some of the material used in the document may have been obtained from members/persons other than the AMC and/or its affiliates and which may have been made available to the AMC and/or to its affiliates. Information gathered and material used in this document is believed to be from reliable sources. The AMC however does not warrant the accuracy, reasonableness and / or completeness of any information. We have included statements / opinions / recommendations in this document, which contain words, or phrases such as “will”, “expect”, “should”, “believe” and similar expressions or variations of such expressions, that are “forward looking statements”. Actual results may differ materially from those suggested by the forward looking statements due to risk or uncertainties associated with our expectations with respect to, but not limited to, exposure to market risks, general economic and political conditions in India and other countries globally, which have an impact on our services and / or investments, the monetary and interest policies of India, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices etc.

Investors are requested to refer the Scheme Information Document for Product Label assigned to various schemes in terms of risk associated with investing in such Products.