Mutual Fund News : ICICI Pru Mutual Fund launches ICICI Prudential India Equity FOF

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ICICI Pru Mutual Fund has launched ICICI Prudential India Equity FOF. It is an open-ended fund of funds scheme investing in units of equity oriented schemes.

The investment objective of the scheme is to generate returns by predominantly investing in one or more mutual fund schemes/ ETFs (managed by ICICI Prudential Mutual Fund or any other Mutual Fund(s)) which invest in equity and equity related securities.

The performance of the fund will be benchmarked against S&P BSE 500 TRI (Total Return Index).

The fund will be managed by Mr Dharmesh Kakkad.

The NFO opens for subscription on February 05, 2020 and closes on February 19, 2020.

The New Fund Offer is priced at Rs 10 per unit and the minimum application amount for initial purchase is Rs 5,000 and in multiples of Re 1 thereafter.

The scheme offers Direct Plan and Regular Plan having Growth Option and Dividend Option (with Reinvestment and Payout options).