ICICI Pru AMC launches Prudential Equity Savings Fund-Series

The NFO period is from 20th January – 7th February, 2014

January 16, 2014 1:46 IST | India Infoline News Service
ICICI Prudential Asset Management Company has announced the launch of ICICI Prudential Equity Savings Fund, a close ended equity fund that focuses on investing in equity securities of companies which are likely to see expansion in Return on Equity over the next 3 years.
The fund aims at adopting a focused approach on select high conviction stocks which are likely to gain from factors such as the improving economy, a favorable regulatory change, change in the industry dynamics or company specific factors.
The portfolio will be managed by Mr. Manish Gunwani, Sr. Fund Manager and Mr. Venkatesh Sanjeevi, Fund Manager, ICICI Prudential Asset Management Company.
Nimesh Shah, MD & CEO, ICICI Prudential Asset Management Company said, “The Indian economy with its latest macro indicators has been going through a rough patch causing equity markets, in general, and some very good quality, large companies, in particular, to be shunned by investors. These companies could be ones which are best poised for a bounce-back at the first sight of an improving economy. Such companies with an outlook for improving profits or Return on Equity (ROE) are expected to be good investment opportunities in today’s tough environment. The opportunity becomes even more compelling given the strong linkage between the country’s GDP growth, the ROE of these large companies and their price performance. We thus feel that it is an opportune time to make the most of modest equities that will be greatly impacted by the upcoming turn of positive economy indicators.”
The fund will be adequately diversified while not restricting itself to the benchmark sector weights. The fund is also valid for tax benefit under the RGESS.

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