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Get all your mutual fund related queries answered by our expert, Manoj Nagpal, managing director and chief executive officer, Outlook Asia Capital, on our show Mutual Fund Corner.

Q: Kaparouthu Venkatesh writes to us on Facebook. Your opinion on ICICI Value Discovery Fund.

A: ICICI Value Discovery Fund is managed by Mrinal Singh for the last 7-8 years of its total history of around 15 years. The fund was launched in 2004. Performance of the fund over time has been above average for most parts of the time-frames, but in the recent short-term it is below average. Has seen multiple changes in mandate over its life cycle like being a mid cap fund, then a multicap fund and then a large cap and now a value orientation.

However, to be fair, the value orientation has been a consistent across time frames but the changes in the market cap leads the long term performance to be ignored. If you want to choose from the ICICI Fund House, then ICICI Multicap Fund managed by S. Naren is a better choice. Or else Kotak Contra, HDFC Capital Builder are other options which could be better.

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