ICICI Prudential Innovation Fund is an open-ended thematic fund launched by ICICI Prudential mutual fund with the aim of long term wealth creation by investing in stocks adopting innovation strategies or themes. The subscription period for the ICICI Prudential Innovation Fund NFO (New Fund Offer) began on April 10, 2023, and will end on April 24, 2023.
Within five Business Days following the date of allotment, the Schemes will reopen for continuous sale and repurchase. The fund allows you to build a personalized investment strategy with the help of systematic investing options like SIP and SWP. Subscriptions can be made starting at Rs 5,000 and in any whole rupee increment above that. Both a Regular Plan and a Direct Plan are available. There are Growth and Income tiers available for both plans.
About ICICI Prudential Mutual Fund
ICICI Prudential Mutual Fund, one of India’s two largest Asset Management Companies, boasts a long-standing reputation as a top-performing and reliable Mutual Fund. Rated “AAAmfs,” their offerings instill a high degree of confidence. Established in 1993, ICICI Prudential was founded by ICICI Bank and Prudential Plc, a globally renowned insurance company.
As of 31 March 2022, ICICI Prudential manages assets worth over Rs. 4.6 Lakh Crore, and has garnered a reputation for employing some of the best fund managers in the industry. Based in Mumbai, ICICI Prudential Mutual Fund provides a broad range of funds tailored to fit all socioeconomic backgrounds.
ICICI Prudential Innovation Fund – NFO Detail
| Type of Offer | NFO (New Fund Offer) |
| Fund House | ICICI Prudential Mutual Fund |
| Name of the Fund | ICICI Prudential Innovation Fund |
| Type of Scheme | Open-Ended |
| Category of Scheme | Equity Schemes – Thematic Fund |
| NFO Starts | 10-Apr-2023 |
| NFO Ends | 24-Apr-2023 |
| 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 Managers | Mr. Anish Tawakleym, Mr. Vaibhav Dusad, Ms. Sharmila D’mello |
ICICI Prudential Innovation Fund NFO – Scheme Objectives
The scheme aims to generate long-term capital appreciation by predominantly investing in equity and equity-related securities of companies and units of global mutual funds/ETFs that can benefit from innovation strategies and themes. However, there can be no assurance or guarantee that the investment objective of the Scheme will be achieved.
How Will the Scheme Allocate Its Asset
- 80-100% in equity and equity-related securities of companies adopting innovation strategies and themes & Overseas Securities adopting innovation strategies and themes where the risk is very high
- 0-20% in other equity and equity-related instruments where the risk is very high
- 0-20% in debt and money market instruments where the risk is low to medium
- 0-10% in REITs and InvITs where the risk is very high
Where Will the Scheme Invest?
As per the information provided in the scheme information document, the corpus of this scheme can be invested in any of the following securities:-
- Equity and equity-related securities including Indian Depository Receipts (IDRs), and warrants carrying the right to obtain equity shares.
- Securities created and issued by the Central and State Governments and/or repos/reverse repos in such Government Securities as may be permitted by RBI
- Securities guaranteed by the governments
- Debt securities issued by government agencies and statutory bodies
- Corporate debt securities.
- Other (Please refer to to the SID)
ICICI Prudential Innovation Fund NFO – Who Can Invest?
According to the SID, this scheme is suitable for investors who are seeking:-
- Long-term wealth creation
- An equity scheme that invests in stocks adopting innovation strategies or themes.
ICICI Prudential Innovation Fund NFO – SID (Scheme Information Document)
Please click here to read the SID (Scheme Information Document) of this upcoming NFO scheme.
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.
