ICICI Prudential Asset Management Company Ltd. has announced the launch of ICICI Prudential Growth Fund - Series 1, a 3-year close ended equity fund that aims to provide capital appreciation by investing in a well-diversified portfolio of equity and equity related securities.
The portfolio will be managed by Manish Gunwani, Fund Manager, ICICI Prudential AMC & Venkatesh Sanjeevi, Fund Manager, ICICI Prudential AMC. The fund aims to predominantly invest in companies with potential profit or Earnings per share (EPS) growth higher than profit or EPS of Sensex.
Speaking on the launch of this fund and the thought behind it, Nimesh Shah, MD & CEO, ICICI Prudential Asset Management Company Ltd. said, â€śEconomic outlook has turned positive due to reducing deficits and stability in the Indian currency. Improvement in fundamentals indicates chances of growth recovery and Corporate India doing reasonably well. Themes/sectors like banking, infrastructure and mid-caps are likely to perform. Further with the likely implementation of new reforms, there is a potential for re-rating of earnings of the corporates in various sectors. Therefore, an economic revival, regulatory reforms and favourable industry dynamics could offer opportunities for earnings expansion. Growth in earnings can potentially benefit stock prices and hence offers an opportunity to invest in equity through mutual funds for long term wealth creation. â€ť
The companies with higher earnings growth aim to provide:
- Good corporate Management and efficient utilization of capital
- Increasing market share that can lead to high earnings
- Focus on Healthy margins and Sound financial health
- Earnings expansion could augment the stock prices of companies
- The minimum application amount for the fund is Rs 5,000 (plus in multiples of Rs.10)
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