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ICICI Prudential MF launches new fund
ICICI Prudential Mutual Fund, a leading fund house in the country, launched a new fund offer (NFO), the fourth edition of ICICI Prudential India Recovery Fund, which would mainly focus on large cap stocks. The NFO opened for subscription on Thursday (February 4) and will close on February 22.
Hyderabad: ICICI Prudential Mutual Fund, a leading fund house in the country, launched a new fund offer (NFO), the fourth edition of ICICI Prudential India Recovery Fund, which would mainly focus on large cap stocks. The NFO opened for subscription on Thursday (February 4) and will close on February 22.
The three-year close ended equity fund is designed to capture the investment opportunity provided by 15-20 large cap companies which currently offer attractive valuations owing to recent sell-off from Foreign Institutional Investors (FII) in the Indian markets.
“These companies are likely to benefit from recovery in the Indian economy. Also, generally, large caps have proven business models and established track record of management teams,” Manish Gunwani, Senior Fund Manager, ICICI Prudential Asset Management Company, told media here.
Through this fund, investors can benefit from better economic indicators and business sentiment, investment recovery and reforms undertaken by the government, he added. Minimum application amount for the NFO is Rs 5,000 and in multiples of Rs 10 thereafter and units will be available during the offer period at Rs 10 per unit.
