ICICI Prudential Asset Management Company has filed for the ICICI Prudential Life Cycle Fund 2036, a new fund offer under a category SEBI introduced only this year, opening 26 August and closing 9 September 2026.
The fund follows a glide path: money starts weighted more towards equity, and shifts automatically towards debt, gold and silver as it nears its 2036 maturity, ten years from when the scheme was filed.
This suits an investor who already has a goal around 2036, such as a child’s higher education, and would rather the fund handle the de-risking than manage it themselves.
ICICI Prudential Life Cycle Fund 2036 NFO details
Detail | Information |
Direct and Regular Plan, Growth and IDCW options | |
Fund type | Open ended, fixed 10 year maturity with an automatic glide path |
Category | Life cycle fund (newly introduced SEBI category) |
Nature of scheme | Multi asset, shifting from equity heavy to debt heavy over time |
Benchmark | Nifty 200 TRI (65%) + Nifty Composite Debt Index (30%) + gold (3%) + silver (2%) |
Fund managers | |
NFO opens | 26 August 2026 |
NFO closes | 9 September 2026 |
Minimum investment | Rs 100, plus multiples of Re 1 |
Additional investment | Rs 100, plus multiples of Re 1 |
SIP amount | Rs 20 daily, Rs 100 weekly/fortnightly/monthly, Rs 5,000 quarterly |
NAV during NFO | Rs 10 per unit |
Stamp duty | 0.005% of transaction value |
Entry load | Nil |
Exit load | 3% within 1 year, 2% within 2 years, 1% within 3 years, nil after |
ICICI Prudential Asset Management Company details
Detail | Information |
AMC name | ICICI Prudential Asset Management Company Limited |
Website | |
Registered office | 12th Floor, Narain Manzil, 23 Barakhamba Road, New Delhi 110001 |
Contact numbers | 1800 222 999 (MTNL/BSNL), 1800 200 6666 (others) |
Source: AMFI India, New fund offer : ICICI Prudential Life Cycle Fund 2036
What has ICICI Prudential launched?
The ICICI Prudential Life Cycle Fund 2036 belongs to a category called life cycle funds, cleared by SEBI only in 2026. It is open ended with a fixed 10 year maturity, due to redeem in 2036 unless investors consent to move into a similar dated fund.
It does not hold one fixed mix for its life. It follows a glide path, a preset schedule that gradually shifts money from equity into debt, gold and silver as maturity nears. With roughly ten years left, up to 65% can sit in equity, the rest split across debt, money market instruments, gold, silver and InvITs (infrastructure trusts holding assets such as roads and power lines).
The manager cannot deviate from this schedule on a market view. Within equity, the scheme uses bottom up stock picking, alongside top down sector diversification.
How does the ICICI Prudential Life Cycle Fund 2036 strategy work?
The fund tracks years remaining to 2036 and holds its allocation within the matching band, rather than leaving it to the manager’s discretion.
Step | What happens? |
1 | Money pools into the scheme during or after the NFO |
2 | The fund checks years remaining to 2036 |
3 | Allocation is set to match the glide path band for that stretch |
4 | Equity uses stock picking; debt holds only AA and above rated papers |
5 | The mix is rebalanced if it drifts, and again as maturity nears |
Let’s understand ICICI Prudential Life Cycle Fund 2036 through an example
Say an investor puts in Rs 1 lakh with ten years left to maturity. Under the current band, about Rs 65,000 could sit in equity, the rest spread across debt, gold and silver. With only two years left, the same portfolio would hold far less equity and far more debt automatically.
ICICI Prudential Life Cycle Fund 2036 portfolio allocation
Years to maturity | Equity | Debt & money market | Gold, silver & InvITs |
5 to 10 years | 50% to 65% | 5% to 25% | 0% to 10% |
3 to 5 years | 35% to 50% | 25% to 50% | 0% to 10% |
1 to 3 years | 20% to 35% | 25% to 65% | 0% to 10% |
Less than 1 year | 5% to 20% | 25% to 65% | 0% to 10% |
The debt sleeve holds only AA and above rated instruments, with maturities inside the scheme’s own remaining timeline.
Investment strategy behind ICICI Prudential Life Cycle Fund 2036
On equity, the fund looks for companies with above average profitability and durable advantages, spread across sectors. On debt, the team runs its own credit evaluation rather than relying only on ratings, staying within AA and above rated paper. Derivatives such as futures and options are used mainly for hedging, not speculation.
Potential benefits of ICICI Prudential Life Cycle Fund 2036
Potential benefit | Why does it matter? |
Automatic de-risking | No need to manually shift from equity to debt as the goal nears |
One fund for a fixed horizon | Useful for a 2036 goal without juggling several schemes |
Spread across four asset classes | Equity, debt, gold and silver tend to react differently to events |
Rule based glide path | Removes emotion and timing from the mix decision |
Merger option at maturity | Can roll into a similar dated fund with consent |
Key risks in ICICI Prudential Life Cycle Fund 2036
Risk | What does it mean? |
Market risk | Equity, gold and silver can fall; exposure is highest early on |
Glide path risk | The manager cannot deviate from schedule, even if conditions argue for it |
Credit risk | Debt could be downgraded or default, though rated AA and above |
Interest rate risk | Bond prices in the debt sleeve can fall when rates rise |
Derivative risk | Hedging with futures and options carries execution risk |
Who may consider ICICI Prudential Life Cycle Fund 2036?
Investor type | Why it may fit |
Someone with a goal around 2036 | Horizon matches the fund’s fixed maturity |
An investor wanting automatic de-risking | Prefers not to rebalance manually over a decade |
Someone comfortable with very high risk early on | Equity exposure is highest right after investing |
Who may not find ICICI Prudential Life Cycle Fund 2036 suitable?
Investor type | Why it may not fit |
Goal well before or after 2036 | The glide path is timed to this maturity, not general purpose |
Needs steady income or predictable cash flow | Early equity heavy years bring more volatility |
Wants to control the mix themselves | The glide path is rule based, not investor adjustable |
How does ICICI Prudential Life Cycle Fund 2036 compare with traditional options?
Fixed deposit | Debt fund | Hybrid fund | Equity fund | Life Cycle Fund 2036 | |
Risk | Low | Low-moderate | Moderate | High-very high | Very high, easing over time |
Liquidity | Locked in | High | High | High | High, built for 2036 |
Horizon | Fixed term | Flexible | Flexible | Long term | Fixed, to 2036 |
A factual comparison, not a ranking.
ICICI Prudential Life Cycle Fund 2036 review by Zenith Finserve
The ICICI Prudential Life Cycle Fund 2036 suits an investor who already has a goal around 2036 and would rather the mix shift automatically than manage it themselves. The rule based glide path takes timing decisions off the table, for better or worse.
At this stage, the fund carries very high risk, since more than half the portfolio can sit in equity. That eases only gradually, so investors with a shorter horizon should look elsewhere.
It is a brand new SEBI category with no long India specific track record yet. Weigh it against your own goal timeline and risk appetite through goal based financial planning, not the maturity date alone.
How Zenith Financial Management can help
At Zenith Financial Management, we follow a process driven investment framework. We assess your goals, cash flows, risk profile, time horizon, existing investments, loans and tax situation before suggesting investments. We align our investment suggestions with your financial objectives and review them periodically to keep them suitable as your circumstances change.
For a fixed horizon goal like this, our investment planning and retirement planning services can help. See also Zenith’s guide to mutual funds in India and its Mutual Funds Advisory service.
Similar NFOs on Zenith
Jio BlackRock Prism Hybrid Long Short Fund NFO: another multi asset strategy across equity, debt and derivatives, though structured as an interval SIF, not an open ended glide path fund.
This is the first life cycle fund NFO Zenith has covered, so there is no closer match yet.
Frequently asked questions
What is the ICICI Prudential Life Cycle Fund 2036 NFO?
An open ended scheme following a preset glide path, shifting from equity towards debt, gold and silver as it nears 2036.
When does the ICICI Prudential Life Cycle Fund 2036 NFO open and close?
26 August to 9 September 2026, per Morningstar’s tracker. Confirm with the AMC, as the scheme document seen here was in draft form.
What is the minimum investment in ICICI Prudential Life Cycle Fund 2036?
Rs 100, and multiples of Re 1 after that.
Is ICICI Prudential Life Cycle Fund 2036 NFO good to invest in?
Depends on whether your goal matches 2036 and your comfort with very high risk early on.
What does ICICI Prudential Life Cycle Fund 2036 invest in?
Equity, debt and money market instruments, plus a smaller slice of gold, silver and InvITs, shifting as maturity nears.
Who manages the ICICI Prudential Life Cycle Fund 2036?
The scheme document names Sankaran Naren and Manish Banthia.
What is the exit load on ICICI Prudential Life Cycle Fund 2036?
3% within one year, 2% within two, 1% within three, nil after that.
Can I do a SIP in ICICI Prudential Life Cycle Fund 2036?
Yes, from Rs 20 daily, Rs 100 weekly/fortnightly/monthly, or Rs 5,000 quarterly.
What happens to ICICI Prudential Life Cycle Fund 2036 in 2036?
It redeems at the end of its 10 year term, or merges into a similar dated fund with consent.
How risky is ICICI Prudential Life Cycle Fund 2036?
Very high at launch, since over half the portfolio can sit in equity, easing as 2036 nears.
Is there a benchmark for ICICI Prudential Life Cycle Fund 2036?
Yes: Nifty 200 TRI, Nifty Composite Debt Index, and domestic gold and silver prices, weighted 65:30:3:2.
Does ICICI Prudential Life Cycle Fund 2036 have a track record?
No, it is a new scheme with no prior performance history.
