ICICI Prudential MF introduces Passive Multi-Asset Fund of Funds
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ICICI Prudential Mutual Fund (MF) has launched ICICI Prudential Passive Multi-Asset Fund of Funds, an open-ended fund of funds scheme investing in equity, debt, gold
and global index funds/exchange traded funds. The NFO opens for subscription on December 27, 2021 and closes on January 10, 2022. The Entry load is not applicable for the scheme. Exit load will be 1% of applicable NAV, if the amount sought to be redeemed or switched out up to 12 months from allotment. If the amount sought to be redeemed or switched out more than 12 months from allotment, exit load will be nil for the scheme. However, the Trustee shall have a right to prescribe or modify the load structure with prospective effect subject to a maximum prescribed under the Regulations. The minimum subscription amount is Rs 1000 (plus in multiple of Re 1).
The Scheme’s performance is benchmarked against CRISIL Hybrid 50+50- Moderate Index (80% weightage) + S&P Global 1200 Index (15% weightage) + Domestic Gold Price (5% weightage). Sankaran Naren, Manish Banthia, Ritesh Lunawat, Dharmesh Kakkad, Nishit Patel and Priyanka Khandewal will be the fund managers of the scheme.
The investment objective of the scheme is to generate returns by predominantly investing in passively managed funds launched in India and/or overseas.
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