ICICI Prudential Mutual Fund is launching NFO under its “sectoral fund category”, named as ICICI Prudential Innovation Fund. This open-ended fund of fund seeks to generate returns by investing in stocks adopting innovation strategies or themes.
Investment strategy: 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 marketcap 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.
Asset allocation: The Scheme would invest Equity and equity related securities including Indian Depository Receipts (IDRs), and warrants carrying the right to obtain equity shares.
Who should invest?
Investors with very high risk appetite and want to invest for 7 to 10 years in a mutual fund should invest in ICICI Prudential Innovation Fund.
Risk associated: Very high level of risk.
Benchmark: Nifty 500 TRI.
Fund Managers: Mr Anish Tawakley, Mr Vaibhav Dusad, and Ms Sharmila D’mello.
The NFO is available for subscription from April 10 to April 24. The schemes will reopen for continuous sale and repurchase within five Business Days from the date of allotment. The fund offers systematic investment solutions like SIP and SWP to create a flexible investment plan. The minimum subscription amount is Rs 5000/- and in multiples of any amount thereafter.
It offers Regular Plan and Direct Plan. Each plan offers Growth and Income options. Click here to invest in ICICI Prudential Innovation Fund .
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