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ICICI Prudential Mutual Fund launches ICICI Prudential Passive Multi-Asset Fund of Funds
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Highlights:
* An open-ended fund of funds scheme investing in equity, debt, gold and global index funds/exchange traded funds
* The offering aims to be a simple investment solution providing a blend of various asset classes
* Asset allocation: Domestic Equity ETFs/Index Funds (25%-65%), Domestic Debt ETFs/Index Funds (25%-65%), Gold ETFs (0%-15%) and Overseas ETFs and Index Funds (10%-30%)
* The Scheme is capable to invest in any ETFs/ Index Fund launched by any other mutual fund in India
* Minimum investment required during NFO: Rs. 1000/-
Mumbai, December 27, 2021: ICICI Prudential Mutual Fund has launched ICICI Prudential Passive Multi-Asset Fund of Funds. The offering aims to provide returns that closely correspond to the total return of the benchmark CRISIL Hybrid 50+50- Moderate Index (80% weightage) + S&P Global 1200 Index (15% weightage) + Domestic Gold Price (5% weightage) subject to tracking errors.
S Naren, ED & CIO, ICICI Prudential Mutual Fund believes over the last decade easy liquidity conditions and rate cuts by global central banks created a conducive environment for equity markets to perform. Now with the withdrawal of stimulus measures, multi asset philosophy is likely to provide better outcome in the near term.
Speaking on the launch of the product, Mr. Chintan Haria, Head – Product Development & Strategy, ICICI Prudential Mutual Fund said, “We believe this product is a simple solution for an investor looking for multi-asset allocation through the passive route. Apart from allocation to domestic equities ETFs/Index, debt ETFs/Index, and gold ETFs, an investor will also have exposure to ETFs/Index investing in global companies as well through this product, thus bringing in geographical diversification as well.”
ICICI Prudential Passive Multi-Asset Fund of Funds aims to be a simple solution for multiple problems. The Scheme provides a blend of all asset classes and follows the approach below.
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