Publish Date:
ICICI Pru Mutual Fund has launched ICICI Prudential Energy Opportunities Fund
It is an open-ended equity scheme following the energy theme
The investment objective of the scheme is to provide investors with opportunities for long term capital appreciation by investing in equity and equity related instruments of companies engaging in activities such as exploration, production, distribution, transportation and processing of traditional & new energy including but not limited to industries/sectors such as oil & gas, utilities and power.
However there can be no assurance or guarantee that the investment objective of the scheme would be achieved
Under normal circumstances, ICICI Prudential Energy Opportunities Fund will hold an allocation of 80% to 100% in Equity & Equity related instruments of companies engaged in Energy (traditional / new) and allied sectors, 0% to 20% in Other equity and equity related securities, 0% to 20% in Debt and Money market instruments and 0% to 10% in Units issued by REITs/ InvITs.
[Read: Top 5 Green Energy Mutual Funds: Powering Your Portfolio with Sustainability]
ICICI Prudential Energy Opportunities Fund will follow an active investment strategy to generate long-term capital appreciation by creating a portfolio that is invested predominantly in domestic/ overseas instruments of companies engaged in and/or expected to benefit from the growth in traditional & new energy sectors & allied business activities.
The scheme can also invest in domestic/ overseas securities of companies that are engaged in energy allied sectors including but not limited to Chemicals & Petrochemicals companies, industrial & capital goods companies that are engaged in energy consultancy, manufacturing pipelines used in energy sector, manufacturing electrical equipment's for production, transmission & distribution of energy, companies engaged in bio energy value chain, companies making components of new energy, ancillary companies in power transmission & distribution space.
The Fund Manager will have the discretion to invest in all those sectors / areas which are engaged either directly or indirectly in the traditional & new energy sectors.
ICICI Prudential Energy Opportunities Fund is benchmarked against the Nifty Energy TRI
ICICI Prudential Energy Opportunities Fund will be managed by Mr Sankaran Naren, Ms Nitya Mishra and Ms Sharmila D’Mello for overseas investments.
ICICI Prudential Energy Opportunities Fund is open for subscription from July 02, 2024 to July 16, 2024. The fund will reopen for continuous sale and repurchase within 5 business days from the date of allotment.
The fund offers Direct Plan and Regular Plan. Under each plan the fund offers Growth option and Income Distribution cum Capital Withdrawal.
The minimum subscription amount is Rs 5,000/- and in multiples of Re. 1 thereafter.