ICICI Prudential Mutual Fund files offer document for Active Momentum Fund
ICICI Prudential Mutual Fund has filed offer document with SEBI to launch an open-ended equity scheme named ‘ICICI Prudential Active Momentum Fund’. The New Fund Offer price would be Rs 10. Entry load will be nil and Exit Load 1% of applicable Net Asset Value -If the amount sought to be redeemed or switched out within 12 months from allotment; NIL -If the amount sought to be redeemed or switched out more than 12 months. The Scheme offers Growth Option and Income Distribution Cum Capital Withdrawal Option for investment and seeks to collect a Minimum Target Amount of Rs 10 crore.
The performance of the scheme will be benchmarked against Nifty 500 TRI. The minimum application amount is Rs 5000 plus in multiple of Re.1.
The investment objective of the Scheme is to generate long-term capital appreciation by investing in Equity & Equity related instruments of companies reflecting momentum factors.
