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ICICI Pru MF files offer document with SEBI to launch Global Stable Equity Fund

ICICI Pru Global Stable Equity Fund is an open-ended fund of funds scheme

April 30, 2012 3:12 IST | India Infoline News Service

ICICI Prudential Mutual Fund has filed offer document with SEBI (Securities and Exchange of India) to launch ICICI Prudential Global Stable Equity Fund, an open-ended fund of funds scheme.

The investment objective of the scheme is to provide adequate returns by investing predominantly in units of Nordea 1–Global Stable Equity Fund. The scheme may also invest in the units of other similar overseas mutual fund schemes, which may constitute a significant part of its corpus. The scheme may also invest a certain portion of its corpus in domestic money market securities and/or money market/liquid schemes of domestic mutual funds including that of ICICI Prudential Mutual Fund, to meet liquidity requirements from time to time. The minimum investment amount is Rs 5,000.

The scheme will be benchmarked against MSCI World Index (EUR Hedged) Net Total Return.

Punit Mehta (overseas investments) and Chaitanya Pande (India investments) are the fund managers.

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