ICICI Prudential Mutual Fund is launching a new fund with name ICICI Prudential Bharat Consumption Fund. This fund is an open-ended sectoral/thematic fund and aims at investing in companies which are engaged in consumption and consumption related activities. The fund house will launch this fund in NFO (New Fund Offer) from 26th March 2019 to 9th April 2019. During the offer, the units of this mutual fund will be issued at a price of Rs 10 per unit.
ICICI Prudential Mutual Fund was incepted in the year 1993 in India. It is sponsored by ICICI Bank Limited and Prudential Plc. ICICI Bank is one of the largest private sector banks in India and Prudential Plc is the largest financial service company in the UK. The assets of this fund are managed by the ICICI Prudential Asset Management Company Limited. As on 31st December 2018, the total Assets Under Management (AUM) of the company stands at Rs 3,07,735.44 crore.
ICICI Prudential Bharat Consumption Fund – NFO Details
| Type of Offer | NFO (New Fund Offer) |
|---|---|
| Fund House | ICICI Prudential Mutual Fund |
| Name of the Fund | ICICI Prudential Bharat Consumption Fund |
| Type of Scheme | Open-Ended |
| Category of Scheme | Equity – Sectoral / Thematic |
| NFO Starts | 26th March 2019 |
| NFO Ends | 9th April 2019 |
| NFO Unit Price | Rs 10 per unit |
| Minimum Investment | Rs 5,000 |
| Plans | Regular, Direct |
| Options | Growth, Dividend |
| Entry Load | Not Applicable |
| Exit Load | 1% if redeemed within a year; otherwise Nil |
| Investment Manager | ICICI Prudential Asset Management Company Limited |
| Fund Manager | Mr Dharmesh Kakkad and Mr Rajat Chandak |
ICICI Prudential Bharat Consumption Fund – Features of the Scheme
There are following notable features of this new coming fund:-
- It is an open-ended equity fund which follows the consumption theme.
- It aims to generate a long-term appreciation by investing in securities of companies which are engaged in consumption and consumption related activities or allied sectors.
- As a benchmark, it will follow the Nifty India Consumption Index.
- The scheme requires an amount of Rs 5,000 and Rs 500 as a minimum application amount for lump-sum and SIP investments respectively.
- The offers both regular and direct plans with growth and dividend options.
ICICI Prudential Bharat Consumption Fund – Asset Allocation Pattern
There following asset allocation patterns proposed by the fund:-
- It will invest in equity and equity related instruments of companies which are engaged in consumption and consumption related activities or allied sectors. Here it will invest a minimum of 80% to a maximum of 100% of the total asset. High risk is associated with this approach.
- A minimum of 0% to a maximum of 20% of the total asset will be invested in other equity and equity-related securities. A medium to high risk is associated with this approach.
- Out of the total asset, a minimum of 0% to a maximum of 20% will be invested in debt, units of mutual funds A medium to low risk is associated with this approach.
- The scheme shall also invest a minimum of 0% to a maximum of 20% of the total asset in gold, gold ETF, REIT units, InvIT units. A medium to high risk is associated with this approach.
ICICI Prudential Bharat Consumption Fund – Scheme Benefits
The following are the benefits of this scheme:-
- It is a sectoral/thematic fund which will invest in consumption specific companies.
- The scheme aims to provide a long-term appreciation of the invested capital.
- The scheme will follow the Nifty India Consumption Index for asset allocation.
ICICI Prudential Bharat Consumption Fund – Who can invest in this fund?
The following persons are eligible to apply for NFO of ICICI Prudential Bharat Consumption Fund:-
- Resident adult individuals of India.
- Minors through their parents or guardians.
- Companies/body corporate/Public Sector Undertakings.
- Religious and charitable trusts (registered).
- Partnership firms/Limited Liability Partnerships.
- Karta of Hindu Undivided Families.
- Banks, including co-operative banks, Regional Rural Banks and financial institutions.
- Non-Resident Indian and Person of Indian Origin (Subject to RBI approval).
- Please go through the bellow attached SID for more categories.
ICICI Prudential Bharat Consumption Fund – Important Documents
Please click here to read the SID (Scheme Information Document) of ICICI Prudential NFO.
Disclaimer: This post is just information about the scheme. It does not give any advice or recommendation. Mutual Fund investments are subject to market risk. Please read the offer document carefully before investing.
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Tags: #NFO #Mutual Fund #ICICI Prudential NFO #New Fund Offer #ICICI Prudential Mutual Fund #ICICI Prudential Bharat Consumption Fund
