ICICI Prudential MF introduces Strategic Metal and Energy Equity FoF
ICICI Prudential Mutual Fund (MF) has launched the ICICI Prudential Strategic Metal and Energy Equity Fund of Fund, an open-ended fund of fund scheme investing in Units/shares of First Trust Strategic Metal and Energy Equity UCITS Fund. The NFO opens for subscription on January 17, 2022 and closes on January 31, 2022. The Entry load is nil for the scheme. The Exit load will be 1% of the applicable NAV, if units purchased or switched in from another scheme of the Fund are redeemed or switched within 1 year from the date of allotment and nil, if units purchased or switched in from another scheme of the Fund are redeemed or switched out after 1 Year from the date of allotment. The minimum subscription amount is Rs 1000 (plus in multiple of Re 1).
The performance of the Scheme will be benchmarked against 50/50 blended benchmark index comrpsing NYSE Arca Gold Miners Index And the S&P Oil & Gas Exploration & Production Select Industry Index and its fund manager is Priyanka Khandelwa.
The investment objective of the scheme is to invest in the units/shares of First Trust Strategic Metal and Energy Equity UCITS Fund and also invest a certain portion of its corpus in domestic debt or money market securities and/or debt mutual fund schemes/liquid schemes of domestic mutual funds including that of ICICI Prudential Mutual Fund, in order to meet liquidity requirements from time to time.
