ICICI Prudential Mutual Fund has launched a new fund offer, ICICI Prudential Innovation Fund which will be open for subscription from 10th April 2023 to 24th April 2023. It is an open-ended flexi cap fund, which will following an innovation theme.
Investment Objective
To generate long term capital appreciation by predominantly investing in equity & equity related securities of companies and units of global mutual funds/ETFs that can benefit from innovation strategies and themes
Investment Strategies?
The Scheme is an open-ended fund, predominantly investing in companies that are adopting innovation strategies and themes. The Scheme shall have a diversified portfolio across market cap and certain portion can also be invested in ADR/GDR, foreign equity securities (including companies following adoptive innovation and disruption strategies), units/shares of global mutual fund/ ETFs, which can benefit from innovation strategies and theme.
Benchmark
Nifty 500 TRI
The Trustees reserves the right to change the benchmark in future if a benchmark better suited to the investment objective of the scheme is available.
How will the Scheme Allocate its Assets?
Under normal circumstances, the asset allocation of the Scheme would be as follows:
Instruments | Maximum | Minimum | Risk Profile |
|---|---|---|---|
Equity & Equity related securities of companies adopting innovation strategies and themes & Overseas Securities adopting innovation strategies and themes | 100.00 | 80.00 | Very High |
Other Equity & Equity related instruments | 20.00 | 00.00 | Very High |
Debt & Money market instruments | 20.00 | 00.00 | Low to Medium |
REITs and InvITs | 10.00 | 00.00 | Very High |
NFO Details
Particular | Details |
Scheme Opens | 10th Apr 2023 |
Scheme Closes | 24th Apr 2023 |
Scheme Reopens for Continuous Sale/Purchase | Scheme will reopen for continuous purchase/sale within five business day from the date of allotment |
Minimum Lumpsum | Rs. 5,000 (plus in multiples of Re.1) |
Minimum SIP | Daily, Weekly, Fortnightly and Monthly SIP: Rs. 100/- (plus in multiple of Re. 1/-) Minimum installments: 6 Quarterly SIP: Rs. 5,000/- (plus in multiple of Re. 1/-) Minimum installments: 4 The applicability of the minimum amount of installment mentioned is at the time of registration only. |
NAV of NFO Period | Rs 10 |
Entry Load | Nill |
Exit Load | Less than 12 months 1% of applicable NAV More than 12 months Nil |
Benchmark | Nifty 500 TRI |
Fund Manager | Anish Tawakley and Vaibhav Dusad, for Overseas investment Sharmila D’Mello |
Suitability
Long term wealth creation
This is an open-ended equity scheme investing predominantly in equity and equity related securities of companies which will following an innovative theme.
Investors whose investment time horizon is three years or more, this scheme may be suitable for them.
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*Investors should consult their financial advisors if in doubt about whether the product is suitable for them
Note: The above information has been sourced from the Scheme Information Document provided by ICICI Prudential Asset Management. Read the entire document before investing, Disclaimer: Jaiprakash (ARN/Distributor - 70524; brand name Vasundhra Investment) is the distributor of the mutual fund. Please consult your investment advisor before investing
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.